“From the rising of the sun even to its setting, My Name will be great among the Gentiles,” says Yahweh Sabaoth.
(Malachi 1: 11)
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Kamala Harris: A Racist and Proud of It
See “Kamala Harris proposes $100 billion plan for black homeownership”.
Almost everybody knows about the Great Recession that was brought on by the housing market crash in 2008. Almost nobody knows that the seeds for the Great Recession were sown by President Jimmy Carter. It took about 30 years for his plan to produce the predictable result.
It was called the Housing and Community Development Act of 1977 (a.k.a., the Community Reinvestment Act or the CRA). Its purpose was to incentivize banks so that they would help to increase home ownership in low-income and moderate-income neighborhoods, black neighborhoods in particular.
Congress was eager to spend more taxpayer money and get the economy moving. The cause was perfect. Who could oppose such a noble pursuit? It received overwhelming, bipartisan support, and the banking community was off to the races.
The Devil is in the Details
Once the CRA became law, bureaucrats started working on ways to guarantee compliance. When they were through, they had created a monster. Our government required banks to make mortgage loans to people who did not qualify for loans. Like a snowball rolling downhill, the problem picked up mass and velocity. It finally hit the wall in 2008 and sent the global economy into a tailspin.
Local banks that made enough loans to unqualified borrowers were rewarded. Local banks that didn’t make enough loans to unqualified borrowers were penalized. For the scheme to work, real estate appraisers had to be brought into the game. They fell into line. Money center banks had to be brought in, too. They came along. Their job was to bundle bad loans with good loans and sell them to unsuspecting investors.
All of them abandoned time-proven banking practices and set the stage for the inevitable result. Between 1977 and 2008, bankers made money hand-over-fist while they ignored banking principles, and they did it because our government required them to do it. That’s Jimmy Carter’s legacy. He was the worst president in American history before Barack Obama came along and took that dubious distinction.
Racism and Banking Don’t Mix
Bill Clinton likes to say that he was the first black president. Jimmy Carter would argue with him. He thinks he was the first black president.
Carter’s CRA was primarily for blacks, but like all government giveaway programs, it eventually morphed into a giveaway program for the masses. Everybody wanted in on the action. Rich and poor, young and old, black and white. It didn’t matter. All of them wanted a piece of the pie.
In the early-2000s when the crash was imminent, borrowers who didn’t have jobs were taking out loans and buying expensive homes that were way overpriced, and they walked away from their closings with cash in their pockets. Many of them intended to sell those homes in a matter of months and get rich in the process.
It was a rapidly moving game of musical chairs. Eventually, the music stopped playing. The collapse was inevitable. As I said, the whole process took about 30 years.
Senator Kamala Harris’ plan is the spitting image of Jimmy Carter’s CRA. It’s a racially-tainted government giveaway program. Its purpose is to prevent blacks from leaving the Democrat plantation before the 2020 presidential election.
Racism in banking has horrific consequences. That’s the first lesson we should have learned from the Great Recession. Either Harris doesn’t know history, or she is determined to repeat history at taxpayers’ expense for personal political gain. Either way, Harris’ plan is a terrible idea.
Kamala Harris is a Racist
Like other Democrats, Kamala Harris is what she accuses others of being. Just a few days ago, she accused former Vice President Joe Biden of either being a racist or being oblivious to racism. Then without missing a beat, she proposed a massive $100 billion program that is rooted in racism.
In Harris’ world where they breathe rarified air, only whites can be racists, and whites are responsible for all the problems in black communities.
Harris’ conclusion: “A typical black family has just $10 of wealth for every $100 held by a white family.”
Harris’ solution: Give black American families $100 billion to buy homes. It’s not reparations. That’s a separate issue.
Lack of money is not the primary problem that black Americans face. Lack of money is a result of problems that are rooted in personal choices made by many blacks and counterproductive government programs that perpetuate those problems.
We know that black people are talented. In music, athletics, science, medicine, and every other field, blacks have succeeded magnificently. Other blacks who are looking for the easy road need to put their talent to good use. They can succeed, too. It just takes effort, determination, and time.
Democrats Buy Black Votes with Our Money
Kamala Harris is doing what Democrats always do. She’s trying to buy black votes. She is promising to give them lots of money if they vote for Democrats. She is promising to give them our money, not her money.
We have lots of experience with giveaways. They don’t work. In the end, everybody suffers.
President Trump promised to improve the economy and create jobs for hardworking men and women. He’s done that. Black unemployment is lower now than it ever has been. Job prospects are improving dramatically. The future looks bright.
President Trump offers blacks hope for the future. Kamala Harris and other Democrats offer them more free stuff.
Traditionally, most blacks have preferred to take the handouts that their masters throw their way and to stay on the Democrat plantation. What will they do this time around?
This is Wisdom
There is no such thing as a free lunch. Somebody pays.
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“The glory which You have given Me I have given to them, that they may be one, just as We are one; I in them and You in Me, that they may be perfected in unity, so that the world may know that You sent Me, and loved them, even as You have loved Me. Father, I desire that they also, whom You have given Me, be with Me where I am, so that they may see My glory which You have given Me, for You loved Me before the foundation of the world.” (John 17: 22-24)
