In 1932, a popular slogan was “in Hoover we trusted, now we’re busted”.  The Obama Administration wants to characterize the president as FDR, and Bush as Hoover.   But, the change we can believe in is anything but.  An article by a realtor in Orange County before the election anticipated the fall in real estate and perhaps the next Hoover:

“This next president (Obama or McCain, it doesn’t matter) will be equated with Herbert Hoover [] and will be defeated in a landslide in the 2012 election.”

We doubt it will be easy to defeat the Obama handout machine in 2012.  The 1936 re-election of FDR was a landslide due to that administration’s  massive vote buying with wealth transfers.  The same is true today.  However, while it is true that the Obama administration inherited the current mess we are in, it is also true that a slow drip of bailout funds to the banks without addressing the bad assets on their books is “a hope” that  the banks will heal themselves, a hope we can not possibly believe in and one much like Hoover’s.