A Texas Reader Says Sub-Prime Lending Boom Got Bush Elected
October 22, 2008, 05:00 AM
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From: Roger Chaillet (e-mail him)

Re: Steve Sailer`s Column: America`s Mortgage Meltdown/Diversity Recession: The Smoking Gun?

Sailer missed the most salient aspect of the sub-prime lending boom and subsequent diversity recession.

It got George Bush re-elected.  

Read the piece by well-known author and highly regarded money manager John Mauldin of Dallas, and you`ll understand why. 

What`s noteworthy about Mauldin is that he had actually been a delegate to the Republican convention.

 "Without US homeowners using their homes as an ATM, the economy   would have been very sluggish indeed, averaging much less than 1 percent for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term." [John Mauldin: The Economic Blue Screen of Death]

Not only did sub-prime get Bush re-elected, but it also allowed Mexican illegal aliens to continue to strip mine America. 

Ditto for the corrupt oligarchs who run Mexico.  They`ve masterfully exported more than 10 percent of Mexico`s population to the US. Republican fat cats and Texas plutocrats were rewarded as well. 

Paul Craig Roberts might believe that Bush stole the election.

But there`s no need to don a tin foil hat and believe in conspiracies when the harsh, blunt truth is that looting the public purse for private gain got Bush re-elected.

Chaillet was the winner of the 2003 VDARE.COM War Against Christmas competition. His previous letters are archived here.