Wednesday, September 17, 2008

Subprime Crisis :: partially caused by Multicultulturalism

....or our obsession with race/equality:

The Real Culprits In This Meltdown
By INVESTOR'S BUSINESS DAILY | Posted Monday, September 15, 2008 4:20 PM PT
Big Government: Barack Obama and Democrats blame the historic financial turmoil on the market. But if it's dysfunctional, Democrats during the Clinton years are a prime reason for it.

Steve Sailer coined it the "diversity recession":

The Diversity Recession, or How Affirmative Action Helped Cause the Housing Crisis
Posted by Steve Sailer on June 22, 2008

Uncovering the roots of the disastrous home mortgage bubble that popped last year will keep economic historians busy for decades. Yet, one factor has so far been largely overlooked: the bipartisan social engineering crusade to drive up the rate of homeownership by handing out more mortgages to minorities.

More than a negligible amount of the blame for the mortgage meltdown can be traced back to multiculturalism: government-mandated affirmative-action lending, demographic change, illegal immigration, and the mind-numbing effects of political correctness.

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Yes the usual culprits:: greedy moneylenders and lax Federal Reserve that allowed banks to literally 'print' money are both major factors, but the race issue helped shield them from scrutiny.

3 comments:

Nicholas Stix said...

The only thing wrong with the IBD editorial is that it acts as though Bill Clinton were still president. If anything, George Bush encouraged more race-based lending to people with lousy credit than Clinton did. That must be why blacks and Hispanics love him so much. He destroyed America's economy ... for nothing.

Nicholas Stix said...

I don't know where else to put this where you'll be sure to see it, so here goes:

The Heretical 2: Requests for Asylum and Letters from Santa Ana Jail

http://blog.vdare.com/archives/2008/
09/17/the-heretical-2-requests-for-asylum-and-letters-from-santa-ana-jail/

the Knickerblogger said...

thanks for the links....and great stuff ! People just 'dont' seem to get it'-