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March 5, 2009 - Rush Limbaugh Program
35:33
March 5, 2009, Thursday, Hour #3
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Time Text
This is fabulous.
This is great.
When I hold that picture up, can you see what it is?
Okay, I'll put it on Diddle Cam so you can see it.
Greetings and great to have you with us.
Rush Limbaugh behind the golden EIB microphone here at the Limbaugh Institute for Advanced Conservative Studies.
I am America's real anchor man.
I am America's truth detector, and I am the famously well known highly trained broadcast specialist, Doctor of Democracy.
Telebound numbers 800-282-2882.
If you'd like to join us, our email address, lrushbowl at eibnet.com.
Yesterday, we played audio soundbites from Robert Gibbs, the White House spokesman, saying he doesn't have a radio.
So...
He doesn't listen to the radio.
He has to plug in his iPod.
He says he has to watch some of the cable chatter.
That's a White House term.
He doesn't really like it.
He doesn't have a radio, so I I said yesterday, I'm sure that our buddies and our affiliate in Washington, AM630 WMAL could arrange for Obama, uh Gibbs rather to get a radio.
Today it happened.
And I have a picture here.
I'm holding it here, my formerly nicotine stainfingers.
Ann Compton of ABC News, the emissary from WMAL AM630 in Washington, presenting Robert Gibbs a radio in his box.
The caption to the picture.
Okay, Robert, here's how you turn it on.
Let me zoom in.
There you have it.
There is, I know it's out of focus.
I get I only get two hands here and I can't focus it for you, but you get the basic idea.
For those of you on radio, we're showing this to our subscribers at Rush Limbaugh.com, the website Rush 247.
That's Ann Compton of ABC News giving Robert Gibbs the radio that we asked he be given yesterday.
The caption of the picture in response to his comment that he doesn't even own a radio.
ABC News vet Ann Compton dropped by the White House this morning to deliver a radio.
And some hands-on instructions on how to use the device to Robert Gibbs.
And there you have it, ladies and gentlemen.
Gibbs now has a radio and instructions on how to use it from Business Week magazine.
More finger pointing at Obama from Business Week Magazine.
Business Week magazine is like any other news media publication.
It is leftist.
Wall Street Journal editorial page about the only exception, and maybe a couple of others, but...
I mean the media's media, mainstream media is media, and it's uh for the most part slanted to the left.
This story in their investing section.
Did Obama cause the stock slide?
Wall Street has soured on the new administration's policy moves.
Can this relationship be saved?
Yesterday we broke the news to you that several of the high wealth donors to the Obama campaign are mystified.
They don't understand what he's doing policy-wise.
And once again it stems from people not understanding what liberalism is.
It comes from people not understanding who liberals are.
Story is by Ben Steverman.
At least on Wall Street, the honeymoon is over for President Obama.
Polls show that the president has been strongly popular among the general U.S. population.
But among investors, fairly or unfairly, there is a griping that the new administration is at least partly to blame for the recent slide in stocks.
Partly?
Well, we'll take it.
DJI down over 3,000 points since Obama was elected.
They give a history of the stock slide here, Dow Jones Industrial Average.
I'll pick it up at this point.
Stocks continued to climb into January and even rallied in the week after the inauguration.
Hopes were too high, says independent market strategist Doug Pitae.
Too many were hoping the new administration would have this magic potion to solve our problems.
That was unrealistic.
Uh come on.
I uh I I find it hard to believe that people on Wall Street believe in a magic potion.
I do believe that the general population that voted for Obama think there's a magic potion, that there's an instant fix, a quick fix, but there isn't.
But they thought there was, may still do.
Proposals for a stimulus bill pushed infrastructure stocks to unsustainable heights.
Caterpillar surged 39% from the market lows in November to early January.
Since then, shares in the maker of construction equipment have tumbled back down again, falling 43%.
Because there's no infrastructure going on.
There's no infrastructure rebuilding going on.
We learned yesterday also that Obama what was the word Obama ambushed the CEO of Caterpillar.
Here's briefly the story.
Obama calls the CEO of Caterpillar and says, Jim, what's it going to take for you to hire employees back?
And the CEO said Obama's responsible stimulus plan.
Obama calls a speech that night and says CEO of Caterpillar just told me my stimulus plan goes into action.
He's going to hire when it's passed, he's going to hire jobs back.
He did not consider Obama's plan responsible.
So Obama ambushed the guy, and the guy says he had admitted it to his congressman Shock, Aaron Schock on the flight back to Washington on Air Force One after McDogg and Pony show in Peoria at the Caterpillar headquarters.
Professional investors tend to be more conservative, so it's perhaps no surprise they're concerned.
The basic agenda of Obama's administration is going to be more leftist and less centrist than I had anticipated, says John Merrill, chief investment officer at Tanglewood Wealth Management.
Obama and Geitner missed the chance, if they ever had such an opportunity, to wow the market and help restore some market confidence earlier in his administration.
And since they didn't do that, this is going to be a long drawn-out thing.
And here we have it again, surprised by leftism.
Professional investors tend to be more conservative, so it's perhaps no surprise they're concerned.
This Business Week magazine again.
The basic agenda of Obama's administration is going to be more leftist, less centrist than I had anticipated.
I think I can answer my own question in a way.
Not totally.
Obama has the ability to make people believe what he's saying when he says it.
And they did because they wanted to.
And he had the oratorical skills to be persuasive on that point and move everybody away from what they knew, that the guy is a full-fledged liberal.
That's right.
He had...
He promoted this notion he's a blank canvas that you can, whatever you want Obama to be, he will be.
And people just fell for it, hook, line, and sinker.
Such was the effectiveness of the tactics and campaign to destroy the credibility of George W. Bush that anybody would have been the recipient of this kind of treatment on the left.
Obama's popularity, I think, in large parts of the country and around the world is due to one thing.
He's not Bush.
And so therefore he's vulnerable.
But I still, this is just an intellectual thing for me, folks, I'm sorry.
And I'm a smart guy.
I live in the world of literal reality.
I don't live in fantasy.
I don't live in dreamland.
I don't, there's, there's, there's.
I mean, I dream, I have dreams for myself, but I mean I don't live there.
And I look at Obama and I know exactly who he is.
I know what he is.
I know what he's going to do before he does it.
I know this about liberals in general.
And I will admit that it's frustrating that many people do not, even though the evidence is clear and has been four.
Brief timeout.
We got some pretty good sound bites uh here on the audio roster today.
We'll get to that plus more of your phone calls when we come back.
And welcome back, Rush Limbaugh on a roll, the last man standing Defending conservatism against the onslaught.
Happily.
By the way, I want to take a moment here and thank some people who this week have uh have come to my defense in all of this back and forth with the White House on wanting the president to fail, have come to my defense uh even against uh people supposedly on my side of the aisle who have taken uh shots at me.
Bob Tyrell of the American Spectator has a brilliant, brilliant piece today in which he just slices and dices Paul Bagala and comes up with the perfect nickname for Bagala, the skull.
Not the forehead, but the skull.
He describes Bagala when he sees him in the green room at television shows, is so emaciated that it takes so much makeup on Bagallo's face to send him out on television that you can't tell whether he's laughing or frowning because his face doesn't move.
Uh Bob Tyrell, the American Spectator, thank you.
Jade Neudlinger, National Review Online with a with a blurb today that uh it was was uh highly supportive.
You know, my parents always told me just you you you use you thank the people that come to your defense, stand up next to you, stand up with you.
Uh and a lot have Mark Levin on his radio show last night, just savaged David Frum.
I mean slice David Frum up, chewed him up and spit him out.
Frum knew it was bad, but didn't know how bad.
I got emails from people last night.
You ought to hear what Levin is doing to Frum.
I'm not gonna tell you what Frum wrote uh because I'm not gonna further it, but it was his criticism was of me was entirely personal based on the CPAC speech.
Uh it was it was beneath anybody who claims to be an intellectual.
Uh and and Levin's, look, I'm getting tired of people on our side savaging all of us.
It's bad enough the left does, but we got a bunch of pretenders out there, so he's he uh he had uh Frum went on with him.
Sean Hannity has uh last two or three days on both his radio and television show, has done a superb job of going back and showing uh video and audio of Al Gore and other Democrats spewing hatred and failure desires for George W. Bush.
Uh Greta Van Susterin at Fox has uh has done the same thing.
Uh a lot of people at Fox have.
I mean a lot of a lot of the lot of the Fox hosts.
I just I guess I should just thank the uh the uh the network in general.
Eric Erickson at redstate.com, a uh a blog.
I met Eric backstage in the green room at the uh CPAC speech.
Uh and uh he was there in the audience for it.
He has also written some amazing things about the reaction to all this, including the White House, their reaction to it.
Uh and I I'm look the danger when you start this is that you leave some people out.
Hugh Hewitt, who is on vacation this week, uh, but he did take the time to post.
He's a talk show host in Southern California.
He took the time to post while he was on vacation a very complimentary description of the speech at CPAC, calling it a speech for the decades.
There are just uh a tremendous number of people.
If I've left your name out, it's not intentionally, it's that I'm I just jotted these down off the uh Victor Davis Hansen at uh at National Review this classic intellectual, but he's also a man of the soil.
He's a farmer.
Uh he is uh an agriculture, he lives in uh in in California.
He's a fellow at the uh at the Hoover Institution on the campus of Stanford and Palo Alto.
Uh he's not an Ivy League Ivy Tower uh intellectual, just a standard ordinary brilliant man, among many areas of his expertise is ancient Greek history.
Uh even going so far as to identify the Bill Clinton of the ancient Greek era.
What was the name?
Alcibiades.
Alcibiades, the Bill Clinton of his era, according to Victor Davis Hanson.
I saw that on a history channel uh once.
A fascinating man.
These people are all in my debt.
I thank them very much.
Or I'm in their debt, and I thank him very much for this because it's uh uh it's times like this where you find out who your friends are.
And it's time like this when you find out who the cowards are and who either go underground, head to the tall grass, or either go to the other side uh and and then say, I think the other side's gonna win this.
Uh well sturdily is I'll I'll use my words here.
Snurdley's adding to this wants me to think uh add additional things to describe some of these uh people.
But I don't want to get other motives.
Uh you know, they're just it's just mystifying to me.
But in many cases, I know what their problem is.
They're just some of these highbrow intellectual conservatives are the same difference, the same same people as the ones it's all about abortion with them.
It really is about the social issues.
Uh it it they're just embarrassed to to be in a party where the pro-life community resides.
They're embarrassed of the pro-life community because all of their friends are liberals and intellectuals and they're they get teased about it and so forth.
That's a large part of their psychology is out of whack uh as well because of that.
But that's as much I'm gonna say about about motives.
Also, the Democrat National Committee, ladies and gentlemen, has a new project.
They are going to erect a billboard that they say is in my backyard.
The problem is I don't live where they are going to put the billboard.
They're gonna put a billboard somewhere over in West Palm Beach.
On their website, they are soliciting one phrase, what is it, ten words max?
Is that what it is?
Not sure, but you can see this at dnc.com.
They are soliciting entries for what the slogan on the billboard would be.
A billboard to me.
They want me to see the billboard as I drive around here.
They say they're putting it in my backyard.
Where I live, there are no billboards allowed.
Uh now I do find myself in West Palm Beach on the way.
Oh, I'll tell them where.
I'm on the way to the airport sometimes.
Tell them to put the billboard in Port St. Lucy.
They uh they do need to be stimulated up there.
You know, in Port St. Lucy, how bad it's got it's real in the East.
If you go in there and you want to buy a foreclosed house, they demand you buy a minimum of two.
Port St. Lucie is where the woman went in there and called 911 three times when McDonald's didn't have enough McNuggets.
Woman, you could say is probably an order of fries short of a happy meal, even before she went into place.
Uh let's see, but I there have been many billboards on me, not since I got famous uh nationally, but I in Sacramento, some of the best billboards were uh ever were put up uh for me by KFBK.
The very uh the way radio stations work, they don't put a billboard up to let people know who you are and exist.
They only put the billboard up after you've made it.
The billboard goes up as sort of a validation, it's validation advertising.
If a lot of people listen to Rush Limbaugh and they see a billboard, they're validated, saying it's big, and that's how it's used.
So they put up, they put up this billboard that was, no, this is 1986.
It was a white background, and uh it it it was a rate car radio dial with the five push buttons in front of it.
And there was a finger and a hand pushing one of the buttons to the frequency of KFPK, 1530 a.m.
And above all this, it said, wouldn't you just love to punch Rush Limbaugh?
So as a double on Chandra says, punch me, punch the radio dial to get me.
Those were so people were driving out of their way to see these billboards.
They put three or four of them up.
So it begot a new series of billboards, and you know, start out plain old white billboard, rush limbaugh is a harmless, lovable little fuzzball.
Then two weeks they went out and paid tomato splotches on the billboard.
Then in two more weeks, they added some mustard splotches.
And at the end of a month, the pill billboards were as though they had been vandalized.
You know, it was what they were creating.
See, I can laugh at myself.
I thought the I thought both of those were hilarious.
Now that the DNC is soliciting entries.
And the last time the DNC did this, they you know they had a petition.
I forget what the petition they want, I guess sent a petition to me to stop saying this or that.
Okay, we saw to it that there were far many more of you suggesting things in their petition that they took it down.
It was not it was not they didn't want to send a petition to me that basically had 99% of the signatory saying we love you, Rush.
So you can go to DNC.com or dot org, whatever it is, a Democrat National Committee website, and suggest some of the most laudatory lovable slogans for the billboard they're gonna buy.
The only thing is, I want to make sure that this is actual Democrat National Committee money and not taxpayer stimulus money or TARP money.
I want to see evidence.
We'll be back.
We'll continue right after this.
I remembered some more people during the break here.
I was reminded by staff, I haven't seen everything that has been uh written in defense or support of uh our side in all of this.
Neil Bortz, uh, who uh does a great show.
The different kind of show is a great show.
He was uh very supportive.
Laura Ingram uh on her show was Bill O'Reilly last night on the Fox last two nights on the uh on the Fox News channel, Charles Krauthammer on special report with Brett Baer uh last night, actually said if a contest between Gendal and Limbaugh, I'd take Limbaugh.
Uh but that he's handled this thing very well.
The Power Line guys, the guys at Power Line Blog have been stupendous, as have the people at Newsbusters.
Uh and Hot Air, Ed Morrissey, uh and and uh some some of the people at Hot Air.
There's some oddballs there.
Uh, but uh but Ed Morrissey, Michelle Malcolm, they have been great on this.
I don't I I really don't I'm I'm gonna leave some others out, but there have been a lot of people step up here, and I just want all of you who have to know I have noted it and I appreciate it, and uh and I thank you uh more than you could possibly ever know.
All right.
Let me see.
Trying to decide here what I'm gonna squeeze in on our remaining 25 minutes.
Tell you what, let's cut to audio sound by seven and go in order here for let's see, but do but do but do seven through looks like eleven.
Uh because Bob Tyrrell, R. Emmett Tyrrell Jr., who writes the continuing crisis column of the American Spectator, it's his magazine.
Uh, it just has just come up with a whole new way to describe Bagala, the skull, not before he had the skull so emaciated that he needs so much makeup before he goes on TV that you can't tell whether he laughing or frowning.
So it just it just really dices up Paul Bagala.
Bogala was on Anderson Cooper 180 last night, and and uh Cooper said, Are you working?
Are you working with Carvel?
Perhaps a manual, others in the White House as part of a concerted effort to target Limbaugh.
I don't know what you mean by concerted effort.
I guess the short answer is no, I do what I do.
James, I'm I he and I agree.
My best friend.
I've been we've been in business informally, at least, or formally for 25 years.
He doesn't know.
Depends on how you decide to define concerted.
Now the politico said that it's happening.
The political said that it said we know.
Well, by the way, Stephanopoulos denies that there are conference calls every morning or even any morning.
He says there's never been a conference call with him, Bagala, uh Carville, or the ballerina.
Rumanual.
So um Anderson Cooper's more people didn't lush uh didn't like Rush Limbaugh than Reverend Wright in your poll.
You guys have put out that Reverend Wright's positives are higher than Rush Limbaugh.
In fairness to the data, a whole lot fewer people knew who Reverend Wright was.
A lot more people liked Limbaugh as well as disliked him.
So, you know, it probably averaged out where the net might even have been better for Rush, but the negative rating, that is, the the disapproval of Limbaugh was 58.
Well, it sounds like that they're in their polling day, they might have shared this with the Ballerina, and was the reason they came up with the White House strategy to uh to focus on me.
So they put out that original day.
You remember the original news story went out that my favorabilities were lower than Reverend Wright's.
Well, how about this?
Now, but we must admit a lot few people ever heard of Reverend Wright.
I wonder why that is.
I wonder why so few people have heard of Reverend Wright.
Could it be because the drive-by media, the butt-boy media, just swept aside any reference to...
You gotta let me use it once a day before you criticize me.
They swept aside any reference in the media of the Reverend Wright.
And then Paul Bagala here says, in the end, it would even been better for well, of course I'm gonna have higher numbers than Reverend Wright.
Well, anyway.
Next question from uh from Anderson Cooper.
Clearly, you're talking to Rahmanuel every day on the phone, and his light bulb's gone off in your head, and James Carvel's head.
I find it hard to believe you don't say to Rahmanuel, guess what?
Look at our poll numbers on Limbaugh.
I don't know.
I don't keep careful notes of these things.
My view is I keep private conversations private, Anderson.
And that's part of of what I do to try to figure out what's going on in the world.
But also, I mean, I I talk to my friends about any number of things.
But here's the secret.
I don't like Rush Limbaugh.
Here's the other secret.
He is the most powerful person in Republican Party today, Barnon.
Paul Bagella, the skull, does not know if he discussed me with Rahm Emanuel.
He didn't take notes.
Private conversations.
Anderson, what you need to ask these guys, you work for us, you work for CNN.
We are, I know as commentators and so forth.
But are you participating in a White House strategy targeting a political opponent?
Me.
So now it's time to go to Carville.
Wolf Blitzer talking to Carville last night on the situation room.
They had this exchange about me.
Is this all a conspiracy, James?
You, Paul McGala, Rahm Emanuel, to create this whole Rush Limbaugh situation.
Well, I think that that honestly I want to I don't want to take credit away from from the great Rush Limbaugh who who did it on January the 16th when he said he wanted the president's policies to fail.
And that's what started the whole thing.
So I don't uh don't give Paul and I or Rom credit where it's really due to the great Rush Limbaugh.
He he's the one that really started all this.
So my hat's off to you, Rush.
So here's uh here's uh Blitzer says, well, because they're they're also saying that way back during the campaign in October, you among others were putting limbaugh on polling questions to try to test if this would be a good strategy to pit the Democrats against him, if you will.
We didn't put Rush Limbaugh on our post for a long time, and he's been unpopular in every one.
In fact, we're in the field right now with a poll with Rush Limbaugh in it, and we'll be releasing those results.
I don't know what they are.
Maybe he's gotten more popular, but we'll find out.
You know, it I don't know if it's it's a plot of conspiracy or what, but uh we poll all the time.
And and uh none of this would have happened without uh without Rush being the one that started it all by saying that he wanted the president's policies to fail.
Yeah, right.
It started back in the 60s, but then the 90s with Clinton.
The same bunch of people think Dick Morris was on with O'Reilly last night.
And uh O'Reilly, what about this effort to link the Republican Party in Limbaugh and then the White House taking out this attack?
What do you think about this, Dick?
Carville Emanuel and Stephanopoulos have a mind meld.
Okay, but is it smart?
It's a smart strategy.
Well, I did the same thing when I worked for Clinton.
I didn't like running against Bob Dole because he was a decent guy.
And we didn't have anything to say about Jack Kemp, his running mate.
So we made Newt Gingrich his running mate, and we said vote against the Dole Gingrich proposal.
And we basically put Gingrich on the ballot, even though he wasn't, because back then a lot of people didn't like him.
So that's uh it's the is the mind meld, it's the it's the it's the strategy.
I just don't.
I don't know.
I don't know why Carville nor Bagala would just man up and take credit for it.
I don't know why they won't.
I mean, politico had the story, Jonathan Martin.
Uh these guys, these guys are hanging behind, they didn't take notes in the phone call.
Uh private, private uh private phone calls here.
I'll tell you why they're not manning up and taking it.
I can tell you why Carville's not saying, Yeah, yeah, we did it.
I did it between Bots of Gumbo.
That's how he says, Ben.
What do you mean?
I'd be glad to take credit.
Great Rush Limbaugh.
Great Rush Limbaugh.
Hell, he's not at all this.
The reason that they're not willing to take credit for it yet is because they don't know if it's going to work.
They don't know.
They're not confident it's gonna work.
They're polling me again now.
Hell, I don't know.
He made me more popular.
I don't know.
I don't know what the results are.
Well we'll have them soon.
Uh That's why they're not manning up Mr. Sterling because they don't know yet whether this has worked.
I want to go back to this thing.
Seriously now, folks, I want to go back to the story I saw right before the program started.
I think it was on Fox.
They were doing a story on how people are spending more in some cases to keep their cars running via repairs than what those cars cost.
They've had them for a number of big years.
The economy being what it is, credit being what it is, they've decided they're just gonna spend less money overall to get the cars fixed and keep them on the road.
If that's you.
If you are doing that, if you have made the decision to hold on to your car, you were gonna get a new one, but now you're not.
You're gonna hold on to your car and just get it spiffed up and you're gonna get it repaired.
Let me give you some advice that will serve you well.
What you need to know is this BG products.
BG products is responsible for the best in vital fluids and lubrication in your car.
If you want to keep your car running, you have to make sure that fluid maintenance and lubrication are done with the best products that you can engine oil, uh, anti-freeze, hydraulic fluids, transmission fluid, power steering fluid to break fluid.
And there's one brand of automotive fluids that service managers prefer.
They use more than any other.
It's BG products.
You don't buy it retail, they use it.
At the dealerships and at the repair centers, you go to the website, uh, findashop.com, BG, find a shot.com, and call them up, find out where the nearest one to your um your house is where you live.
They offer a lifetime coverage, lifetime coverage guarantee for your car for all major fluid systems.
Many dealerships, high-end dealerships use BG products on their cars because they have reputations as a stake behind the cars, they want them to last a long time.
Many of these cars manufactures oil changes every 5,000 miles, not three, or in some cases every 10,000 miles.
They are using BG products.
Look it up.
BG findashop.com.
If you're you made the decision to invest in a repair of your car, do it right.
Because it's going to cost less than a new car.
BG products, BG Findashop.com.
You will not be disappointed.
You'll end up saving big bucks down the road if that's your decision.
Sit tight, be right.
Now the Obama, the Obama Daily Tracking Poll down 257.5 points today at the Dow Jones Industrial Average.
The Daily Obama tracking poll down 257.50.
Investors have not forgotten about Obama.
Never have, not for a minute.
Ladies and gentlemen, you're always looking to expand our philanthropic activities here, even during downtimes.
And I got to thinking, you know, there's we have an advertise here called Zycam that really you want to prevent health care costs and emergency room visits.
You will use this at the first moment you're coming down with a cold, and you probably won't have to go to hospital.
Because for those of you who do you know how many people go to hospital with a cold?
You'd be stunned how many people do, because it's healthcare.
Don't get me started on it.
Anyway.
When I heard that in Port St. Lucie, Florida, if you go to McDonald's and order McNuggets and they don't have any, that you call 911, not once, not twice, but three times.
If you if you call the police because they don't have McNuggets in Port St. Lucy, it could well mean that you are short other things that could be helpful.
I was thinking of sending two or three cases of Zycam up to Port St. Lucy to the McDonald's so they could pass them out as uh as as as well, little additions or constellations.
And I'm certain I'm gonna do this, because there might be a problem with this.
See, Zycam, you use it in your nose.
The first moment you think you're getting a cold inside of both nostrils, hold your nose, do it every four hours, and you'll either stop it or you're really retarded, and you'll you'll not get the full effects.
It does work.
Z-I-C-A-M.
But the problem with sending Zycam to Port St. Lucy is we would need an instruction manual.
Dear Citizen.
This is for your nostril.
It is not for any other bodily orifice.
It is not for your ears.
It's not for your mouth.
It's not for your piercings.
It is for no orifice below the waist.
It is for your nose.
I don't know.
You know, with the tort bar out there is, you know, willing to pounce.
We're gonna have to really, really think about this.
But it would be a nice philanthropic effort because we could reduce health care costs.
I want to join President Obama in this and reduce health care costs.
If we could just suspend a common cold a week or so, it might cause fewer visits or result in fewer visits to the emergency room and save big money.
To the phones, New Haven, Connecticut, Thad, great to have you on the EIB network.
Hello.
Hello, Rush.
How are you doing?
I'm fine.
Thank you very much.
Great to have you here.
Um what really upsets me as the Democrats go round and round, say the lack of regulation in the housing industry over the last eight years of Bush resulted into what we have now.
And the fact of the matter is, they started forcing banks without 20% down.
Anyone can buy a house, which artificially inflated the demand curve.
House prices went up.
It takes so long for things to hit.
Thad, it's worse than that.
Not only were they allowed with no down payment, they were practically dragged into these lending offices and said, here, you can get a home.
And they were they knew they couldn't qualify.
The lenders knew they couldn't qualify.
Acorn's picketing bank.
Both sides were forced to make the deal by the government or its agents, right?
Acorn.
Yeah.
And there were the George Bush administration tried to regulate and re-regulate Fannie Mae and Varn Frank and Chris Dobbs stood in his way.
Exactly right.
And really what's really upsetting, though, is it's like the invisible hand takes it out of somebody else's pocket.
And right now it's taking it out of the housing market.
Well, I'm gonna tell you prices have to go down because they and now they're talking about artificially inflating the price level.
You haven't heard the worst of it.
They're crazy.
You have oh, they're crazy like foxes.
Well, it's like it's like it should be mandated.
No politician can become a politician unless they have a degree in economics.
So don't try to pull this stuff.
Well, no, I everybody in his team's got a degree in economics from a wrong-headed liberal business school.
You need a degree in life.
You need a degree in hard knocks, a degree in working in your own business is what you need, and that's what's absent in the Obama administration.
Nothing but a bunch of academics, graduates of academies, and a bunch of theoreticians.
But it's worse than what you said.
The op to understand this, Thad, to understand what's going on.
Liberals believe that the wealthy and the achievers of this country got that way by taking unfairly from the middle class, the poor, and so forth and so on.
What Obama is about, what Barney Frank is about with his affordable housing is returning wealth to its quote unquote rightful owners.
They hate the rich, they think the rich have stolen, cheated, and otherwise ill-gotten their money.
They provided the details yesterday to Obama's uh mortgage bailout.
Even if you are struggling to pay your mortgage and you are doing so, we now learn you are going to be bailing out second mortgages, second liens as well as first liens, even if the people built a swimming pool or an addition to the house.
Whatever reason, you're gonna be bailing out second mortgages as well.
I keep forgetting.
I'll put this in the top of the stack.
A great post by Michael Ledeen on Alexis de Tocqueville and Tookville's theory on how democracy in this country will end.
It parallels what's happening.
It's brilliant all.
Save that for tomorrow.
Open line Friday, and we'll see you then, folks.
Thanks so much for being with us.
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