Cheney Smash!

Our utterly incompetent vice president disagrees with his BFF Alan Greenspan:

In his new book, "The Age of Turbulence," my longtime friend Alan Greenspan argues that President Bush's economic and budget policies have been fiscally irresponsible. I've known and admired Alan for years, and I believe he was a great chairman of the Federal Reserve Board. But I think his assessment is off the mark.

Meanwhile, the Reality Based Community is having a different experience:

Sept. 19 (Bloomberg) -- As many as half of the 450,000 subprime borrowers whose mortgage payments increase in the next three months may lose their homes because they can't sell, refinance or qualify for help from the U.S. government.

"Short of the cavalry riding in over the hill, a lot of these people are just stuck,'' said Christopher Cagan, director of research and analytics at Santa Ana, California-based First American CoreLogic, the risk management unit of the biggest U.S. title insurer.

Shorter Dick Cheney:  As I calmly steer the economic ship of state towards the rocks, I'll pause a moment to rearrange a few fiscal deck chairs.

Comments

[elmo]

Y'all Chickenhawks to Me - by Elmo (MP3)

(If you have trouble with the link right click and "save target as")

[actor212]

The half percent drop in interest rates will stem that mortgage refinance debacle a little, but not enough. Those mortgages were taken out when prime was 5% or maybe 6%.

Since then, it's topped out at 8.25% and yesterday was lowered to 7.75%.

That's a 36% increase in the cost of borrowing for people who's wages have only gone up maybe...maybe...ten percent. And mortgage payments eat up roughly 40% of your income (including escrow deposits and insurance), so anyway you slice it, the housing market is in seriously bad shape, even at the prime borrower level.

[Tom Hilton]

How disconnected from reality does someone have to be to think Dick friggin' Cheney has any credibility at all? I mean, did someone at the WSJ say "hey, you know who could most effectively counter this Greenspan shit? Dick Cheney!"? Are there wingnuts so divorced from any tangible plane of existence that they read this thing and say "checkmate!"?

Please, for the love of god, don't answer that.

[actor212]

Are there wingnuts so divorced from any tangible plane of existence that they read this thing and say "checkmate!"?

Well, see, it's like this...

Please, for the love of god, don't answer that.

Oh. Nevermind.

[pissed off patricia]

The man with the most apt first name in DC

[willis]

Cheney's ability to be right about anything up to now should makes this an endorsement.

[enigma4ever]

So Dick and Alan won't be having any warm fuzzy little chats now...wow...I am shocked...Dick doesn't think anyone is right...ever....( 450,00 Homes that is huge...we have a neighborhood full of empty foreclosed homes already...I didn't think it could get worse...of course I live in one of the worst counties...for Foreclosure...we should just call it Countrywide County....)

[Crackpotpress]

Why is Cheney even writing this? Doesn't he have like 9% approval rating?

[water]

Cheney is plenty competent when he's doing the bidding of his masters...and that ain't your and me, Gracie.

[gil]

New English Language Edition Dictionary.... From the Royal Academy. England.

"Correct": corr-ect. To be of the opposite opinion of Dick Cheney.

Congrats Dick, you just made history as the first VP to make Ripley's believe it or not list in the " Longest string of mistaken opinions by a human ever---

You join your President in the honor. Way to go team!!!!

[mandt]

"Why is Cheney even writing this? Doesn't he have like 9% approval rating?"----More like 9% of Haliburton. No wonder he's so optimistic!