When Barack Obama made his pre 2008 comment about huge swaths of America's heartland being bitter, bible clinging, gun loving Americans, he placed himself on the periphery of being a racist. When Barack Obama either looked the other way or simply refused to address struggling American Homeowners who needed to be helped when their 2004 to 2006 HELOC's were resetting 10 years later, from 2014 to 2016, he basically became a President who could not feel the obvious pain of his constituents.
Obama's refusal to feel Middle America and the Rustbelt's Pain continues to haunt the Democrat Party. Obama loyalists continue to pine for the good old days when America was respected in the World and Obama was a Civil President.
The Obama loyalists seem to have forgotten the many many million of homeowners who received no help for their resetting HELOC's from 2014 through 2016, even among Homeowners who made their interest only payments on their HELOC's for the prior 10 years. Homeowners who had made their interest only payments for the prior 10 years suddenly found their payment increasing by another 100% to 200% above and beyond what it had been. The obvious solution was a replacement HELOC, and it was never even considered.
The Obama administrations failure to help these millions of homeowners has created a "nothing to lose" sentiment as these alienated voters shook things up by voting for Donald Trump or any other candidate that was not a Democrat or affiliated with Obama's Presidency.
The Obama loyalists seem to have forgotten the many many million of homeowners who received no help for their resetting HELOC's from 2014 through 2016, even among Homeowners who made their interest only payments on their HELOC's for the prior 10 years. Homeowners who had made their interest only payments for the prior 10 years suddenly found their payment increasing by another 100% to 200% above and beyond what it had been. The obvious solution was a replacement HELOC, and it was never even considered.
The Obama administrations failure to help these millions of homeowners has created a "nothing to lose" sentiment as these alienated voters shook things up by voting for Donald Trump or any other candidate that was not a Democrat or affiliated with Obama's Presidency.
Every time a new allegation against Donald Trump emerges, Obama and Democrat loyalists and Progressives feel vindicated that surely this will turn the tide against Donald Trump. The reality is nothing will turn the tide faster than Barack Obama admitting he had his own racism issues that lay buried during his presidency.
Obama challenged African American men to be their for their kids, even their kids outside of marriage. It was an interesting political gambit to take, to challenge African Americans to do more.
Yet when it came to the Rustbelt and Great Plains States, Obama didn't challenge, nor did he help when he could have helped. Millions of homeowners in the Rustbelt states took out a HELOC against the Equity in their home, made their interest only payments for 10 years, but then could not afford the HELOC charges suddenly resetting and increasing by 200% to 300% per month as they also continued to pay their mortgage as well.
Obama's lack of cognizance regarding the HELOC issue probably cost Hillary Clinton the 2016 election. Obama's indifference towards assisting those who have lived in the U.S. the longest, while the Democrat Party was gearing up to provide more and more assistance to the newly arriving and migration issues in general caused millions of Democrat Moderates to shift to Donald Trump in2016. .
Yet when it came to the Rustbelt and Great Plains States, Obama didn't challenge, nor did he help when he could have helped. Millions of homeowners in the Rustbelt states took out a HELOC against the Equity in their home, made their interest only payments for 10 years, but then could not afford the HELOC charges suddenly resetting and increasing by 200% to 300% per month as they also continued to pay their mortgage as well.
Obama's lack of cognizance regarding the HELOC issue probably cost Hillary Clinton the 2016 election. Obama's indifference towards assisting those who have lived in the U.S. the longest, while the Democrat Party was gearing up to provide more and more assistance to the newly arriving and migration issues in general caused millions of Democrat Moderates to shift to Donald Trump in2016. .
Instead of offering the millions of Americans with resetting HELOCs a chance to RE HELOC their HELOC's for another 10 years, the Obama administration looked the other way. By 2014 the Home Values had significantly rebounded so the risk to the banks of not enough home equity was just not that significant.
Barack Obama hid behind his banker's cohorts when he needed to be leading them. The case can be made that Barack Obama's silence over the 2014 to 2016 resetting HELOC crisis at a critical juncture in this country's history led to Donald Trumps presidency. Until Obama admits he made a huge mistake not feeling the pain of the American Homeowner's HELOC reset crisis, the ensuing political divide will continue in the United States for many more years to come.
The reason is obvious, if a Rust Belt or Great Plains State resident has to choose between a party that is favoring immigration issues over those who are already in this country and have been here for a while, versus a party that is somewhat devoid of real compassion and empathy, it becomes a toss up. As each party continues to paint the other party is the evil side, Middle America burns.
The reason is obvious, if a Rust Belt or Great Plains State resident has to choose between a party that is favoring immigration issues over those who are already in this country and have been here for a while, versus a party that is somewhat devoid of real compassion and empathy, it becomes a toss up. As each party continues to paint the other party is the evil side, Middle America burns.
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2 comments:
I rate six of the eight Obama year's as failures on his part, though there were some successes thanks to likes of ---gasp!--- Nancy Pelosi et al. His last two years were more successful once he finally learned the Republicans couldn't be accommodated with anything less than total surrender. Current blogging, at least according to Blogging's Great Liberal Decider, says only white people can be racist, though I strongly beg to differ. With Obama it may not have been racist but the urban/suburban/rural fracture that he couldn't see. All three splinters are different but his policies only seemed to engage the urban end, thus the hinterlands were left to twist precariously in the debt and neglect wind.
Excellent post!
Hey Bob, once again a scintillating observation by you. Apparently it's just you and me kid. Amazing to think after 8 years of both of us posting solid content we have no one else who will take the time to comment. Just another weakness among Hillary Clinton supporters. Hillary Clinton seemed to create so much support for herself that all of her supporters neglected each other.
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