Tuesday, August 24, 2010

US Housing Market Collapsing - Heads Need To Roll

Sales of existing homes in the US fell in the month of July to the lowest level in 15 years by 27% to less than 4 million sales. Sales of new homes fell by more than 12%, the lowest level since 1963. Sales among homes priced from $100,000 - $250,000, which represent starter homes for many, fell by an astonishing 47%. And, in some regions of the country the numbers were even worse than the national average as the Midwest experienced a 35% drop and the Northeast a 30% drop in Sales. The housing market is collapsing in spite of the lowest mortgage rates in years. This is all happening because real unemployment is above 15% when all are counted. This means that more than 20 million Americans are either unemployed, under employed working part time who want full time work, or who have just given up looking for work. Many of these Americans are losing their homes to foreclosures, which is driving down home values and destroying the housing market.

Republicans are now calling for Socialist President Obama to FIRE his economic team. Personally, I believe that Obama should be fired sooner than later; but we will have to wait until 2012 to make that happen. Some of Obama's team, like Christina Romer, who promised us unemployment capped at 8% if the SwindleUS Plan was enacted are already leaving in the face of failure. It is now time for the Secretary of the Treasury Tim Geithner, as well as, the head of the National Council of Economic Advisors, Larry Sommers, both of whom were integral to enacting Obama's trillion dollar, deficit spending, SwindleUS Plan to be FIRED.

President Obama and his team have failed miserably. Unemployment, foreclosures and bankruptcies have risen dramatically since Obama was elected. Three million jobs have been lost since Obama's failed SwindleUS Plan was enacted into law. Geithner and Sommers heads need to roll to reflect this disasterous economic policy and the pain and suffering they have caused the American people. Geithner and Sommers have to go and NOW! And then, we must deal with Obama in 2012 by making him a one term President just like Jimmy Carter to end this nightmare.

We must take back our country by sweeping all these Socialists out of office and electing Conservatives that support free market capitalism, limited government, lower taxes and less regulation, a balanced budget, term limits, real energy independence and health care reform, a strong national defense, including securing our border and fighting Terrorism, the right to bear arms, the sanctity of life and family values. This is the winning platform supported by the majority of the American people and the only way to restore economic growth and job creation.

Most important, we must elect Conservatives in 2010 and 2012 who support the Constitution, as written by our Founding Fathers, not as contrived by the left wing media, Socialists Obama, Reid, Pelosi, former Presidents, Congresses, or the Courts. We must take back our country in 2010 and 2012. We can do it. We must do it to preserve our freedoms, our nation and way of life and for the sake of our children and grandchildren.

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