St Obama; the sub prime crash and the Corbyn Armageddon

The miracle of the many mortgages and the bankers

You don’t need to be a fully-paid-up conspiracy theorist to notice the sustained press campaign against President Trump. They are all at it – with one or two honourable exceptions they all name Trump as a disaster. Often the lies and calumnies of the press are beyond breath-taking. Recently, for example, the BBC announced that Trump had “threatened war on Iran.” What the Beeb actually said was, allegedly quoting Trump’s address to the Iranian leaders, “War will follow.” He said no such thing but instead something much more bland and non-specific: “More will follow.” The BBC was obliged to apologise. But they don’t care about truth. They act on the ancient maxim, “Keep on flinging the mud – some of it is sure to stick.”

Fortunately, sometimes even such a monolith to politically-prejudiced fantasy as the BBC has to face a few facts. On Wednesday 26th September the US Central Bank announced: “The US economy registered a strong rate of growth in the first half of 2018, setting it on course for its best performance in more than a decade. Gross domestic product (GDP) expanded at an annualised rate of 4.2% which is the most rapid growth for four years.”

The US Bureau of Economic Analysis commented: “Massive tax cuts for companies enacted by the Trump administration and amounting to $1.5trillion acted as a considerable stimulus to the economy.”

Still the BBC and the rest of the lefty media hanker for the days of Barak Obama. In doing this they reveal themselves as irretrievably biased ideologues and so deeply guilty of churning out lying political propaganda that they have forfeited the moral integrity required to be in charge of a newsroom.

Meanwhile the truth is that the US is enjoying an economic resurgence – the Trump boom.

The previous eight years saw only the Obama slump. And yet Barak is still the media’s poster boy and Donald is the devil incarnate.

It was Obama who personally helped cause the slump. He was a prominent and influential senator on the economics committee during the 1990s which issued millions of under-priced mortgages mainly to impoverished black people who had no chance of keeping up the payments. This act of financial imbecility and moral irresponsibility, joined up with the derivatives scandal – bankers selling “packages” when no one knew what these packages contained – and produced the 2008 crash.

Let’s leave economics and turn to foreign and defence policy. Trump has declared that he will never allow the unstable, violent and unpredictable state of Iran – which daily issues dire threats to Israel, the US and the West generally – to obtain nuclear weapons. Compare Trump’s statement of intent with what Barak Obama actually did: he lifted all sanctions on the Iranian regime in exchange for a worthless promise from the lying Ayatollahs that they would never develop the H-bomb. As Benjamin Netanyahu revealed this week at the UN, the Iranians are building nuclear weapons – and the Israeli president even produced a map showing the armaments factories.

Obama’s capitulation to the Ayatollahs was almost certainly the worst foreign policy decision made by an American president. This came on top of the Nobel Peace Prize being awarded to Obama even before he’d got his feet under the desk in the oval office!

So why is Obama lauded by so many and Trump so roundly despised? Because Obama said things to tickle people’s ears, to tell them the nice things they wanted to hear about: all those handouts, benefits, peace in our time.

This is Corbyn’s tune too and the youngsters, snowflakes, bien pensants and all the other representatives of feeble-mindedness and wishful-thinking love him for it. There is a large section of the population which is entirely infantilised, sentimentalists and devout believers in the magic money tree. These people think that it’s the government’s job to provide for their comfort and perfect happiness. Come the election and they will ensure Corbyn is a shoe-in for Number Ten

We have been here before in the 1970s when Jim Callaghan, Tony Benn and Michael Foot governed us. And their masters were the Trades Unions whose constant strike action produced the 1979 notorious “winter of discontent” when public services ground to a halt, stinking rubbish piled up in the streets and the dead went unburied.

That was bad enough but it will seem like utopia compared with a Corbyn government. His heroes are Chavez and Maduro who have reduced the oil-rich state of Venezuela to rubble: where the people are starving and there are no medicines in the hospitals. But here we are cheerfully sleepwalking into a similar nightmare.

As Lord Acton said, the only thing we learn from history is that we learn nothing from history.

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