This video of Howard Dean depicts the classic Socialist, and he doesn’t hide it. In fact, at the end of the video he says:
“We’ve had quite enough capitalism the last eight years. I think we need some regulation now.”
Politic’s Daily has some more quotes from this interview:
Former Democratic National Committee Chairman Howard Dean was on CNBC today debating the likely impact of President Barack Obama’s economic policies and the $17 billion in cuts that the president has included in his $3.5 trillion budget. In the course of defending Obama’s policies, Dean made some statements that the Administration may come to regret.
Dean first said that there would have to be tax increases, which he called “revenue increases,” to pay for President Obama’s spending priorities (1:40). Dean followed that up by endorsing a “carbon tax,” (1:45) referring to a cap-and-trade pollution emissions system that the Administration and Democrats in Congress have shelved because, in the president’s own words, the plan would cause electricity rates to skyrocket. Finally, Dean asserted that President Obama’s economic policies are good for the country because, “[W]e’ve had quite enough capitalism the last eight years. I think we need some regulation now.” (5:00)
Video below:
Of course he ignores the real root cause for the economic downturn, or as Mataharley called it “The Perfect Storm.” The housing crisis finally led to this collapse and the root cause of this was government regulation, not deregulation:
The Clinton “improvement” of CRA was done in 1995. Now… look at the charts above one more time. Notice that from 1989 to 1995, the home prices remain relatively flat. Now notice that the increase in home prices corresponds to Clinton’s revamping of CRA, and his new mandates to prove compliance by firm numbers.
Now we see a clearer picture to “the perfect storm”.
The mandated easy money (documented by actual loan numbers and not intent) to high risk lenders was accomplished by the creative loan packaging…
The influx of so many buyers from the low rates and exotic loan packages flooded the inventory with ready and able buyers…. this led to overinflated prices of homes and the big boom of 2004-2006…
… which led to the inevitable foreclosures of the high risk buyers. They were unable to refi because of the inflated value…
…finally setting the stage for the high lending losses today – money the banks put out for inflated property values that can not be recouped in a resale in today’s market.
But to Howard Dean and his cohorts, including Obama, it was capitalism at fault. Ignoring the fact that more regulation is what ultimately led to this crisis he now wants more of it…..
Incredible!
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