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How Dumb Is The Tea Party?

C'mon folks, Sarah Palin? One's hand over their heart does not make one a good candidate. Oh sure, they all wax patriotic when the camera rolls. But what is Palin's history as a Presidential candidate? She has one, remember? She ran as an equal part of John McCain's ticket. And what did John McCain do? After campaigning on "personal responsibility" and "capitalism" he suspended his campaign to return to Washington DC and stump for passage of TARP, which did not have sufficient votes in the Senate to pass at the time, and shepherded it through The Senate as the cornerstone of his campaign just a couple of weeks before the election. Where was Sarah? In full support of this action: She has not said one word negatively about Mr. McCain's acts in that regard, either during that time or since. Now, three years into this, we have the facts to go with what Sarah Palin personally enabled, both at the time and since: Banks took that money and remained in business. We have since discovered that they have been foreclosing on people without any evidence that they hold the alleged debt in question. A Fortune study pointed out what I have been asserted for four years: The banks do not own the paper in a majority of the cases. The banks have NOT ceased the practices that got them in trouble. Credit-default swaps and other derivatives are still traded over the counter. There is no nightly mark to market. In point of fact, Kanjorski (former Rep D-11, PA) codified the practice of marking "assets" to fantasy values which continues to this day. There has been $9 trillion in market loss on residential real estate if you believe Zillow, but only $500 billion in removed debt from the Fed's Z1 in mortgages. Where did the rest go? While certainly some was lost equity, not all was. The rest is being actively hidden, an act of intentional and legalized deceit that Palin and McCain actively supported in 2008 and continue to support today. While she says The Fed has done "bad" things (in an oblique way) she has not committed to a zero inflation policy through enforcement of The Federal Reserve Act via something like reinstatement of the Coinage Act of 1792s sanctions for non-compliance. And until and unless she does, she's not for "sound money." All the arm-waving is of no value until and unless you hear something solid that can be reduced to an actual policy. I haven't heard any such thing - have you?

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