Sorry, but it’s true. While Joe’s team are finalizing plans to go after emissions on coal and natural gas power plants (you thought your electricity was high due to inflation – wait until this jewel gets in play … and expect upwards of 30%-50% increases in power bills once enacted), now we see the latest rule Joe is putting in play effective May 1 – yes, one week from now.
First, let’s get a little history lesson back on the table … again. I’ve put this out there so many times over the past few years, but I’m sure people that don’t want to know have shut it out, so here we go again: Go back to the 90s. Go back to Bill Clinton and his executive orders that forced FNMA and FMCC to accept sub-prime and high-risk mortgages, so everyone could buy a house. This was widely panned on the senate floor as a “disaster waiting to happen” – but he didn’t need their approval. And the time-bomb blew up right after he left office – namely the subprime mortgage crisis. Which sparked the banking meltdown. Which cascaded and cost us all trillions to recover. All caused by balls Bill set into motion. Yes – the beloved Bill Clinton.
Try to keep up, now…
On May 1, 2023, a new Biden executive order is going into effect that is being widely panned – again – by congress and even by former Obama housing and mortgage officials. This order is going to force low-risk borrowers (credit scores above 680 and mortgages above $400K – although that minimum may drop) to now pay a higher FEE on their regular mortgage to help offset the costs to get much higher risk borrowers into home mortgages.
Following all that? Biden is forcing high-risk loans to be made … again …, and trying to minimize the risk to the banking sector by forcing those with good credit and low risk to ASSUME much of the risk for the higher risk borrowers, instead of just the banks.
When do we finally get that the current elite that have increasingly taken over the democrat party for the last 30 years are NOT true democrats? They have significant wealth – so these rules never, never impact them. Never. But if it ever does impact them, Biden and his elites in the power positions in government bail them out (look no further than the SVB failure a few weeks back, where Joe bailed out billionaire funds well past FDIC rules – like 10,000% past those rules). But that wealth allows them to control messaging you see. So many of us just lap that message up like an eager puppy waiting for another walk to nowhere. Well, fortunately several democrat legislators in multiple states in the last few weeks have defected out of their party, recognizing this. Some went independent, some went GOP. But it’s not enough.
Remember how Chavez was re-elected in Venezuela each time? He tossed money at the barrios (tens of billions) from the backs of Venezuelan industry, all in the last 18 months before each election. Then he sent his folks in to harvest the ballots in the barrios, mostly with no international oversite. He decimated those industries – which I have first-hand knowledge of, as we were supporting one of those industries in Venezuela until they suddenly had no money left – they were highly profitable before then. Redistribution 101. Socialism 101. Sorry – read your history. Read the facts. And now look at the orders Biden is putting out there. And understand the amount of damage he is causing. Serious, real, tangible damage.
And by the way – we can get to a green and clean economy much easier than the path this team is pursuing. But not until enough of us wipe our eyes and look clearly at the creeping and cascading mess happening right now by those we elected – on the hard left.
And let’s not forget one last thing: Of all rare-earth minerals needed for batteries and the green changes being pursued today, Joe, and Hillary before him, have seen to it that (on average) 80%-95% of ALL available rare-earth mineral resources necessary are now controlled by Russia and China. And very few of those are within their borders – we RELINQUISHED that control under quiet deals brokered by Hillary as SoS and now under Joe as POTUS. Research … for … yourself. Look to Asia, Africa, and South America for starters.
