-
-
- ChrisWT
- added this
Second, our nation is in the worst state its been since the Depression. Notice no one is saying the "Great Depression" anymore, now its just depression.
With the world watching in hopes that our nation won't fall and drag the world down with it, we as a nation need to start doing whatever we can to help each other and our nation. Please I beg everyone to do something. I can't tell you what you should and shouldn't do but somehow we have to do something.
We the people have the power to do whatever we please in this world. Are we really going to stand by and just let the words "Worlds Greatest Nation" sink down the drain and be consumed by a nation undeserving of the tittle?
Would you really want to see another time where jobs are scarce, diseases in full force with no vaccinations, childhood death will probably tenfold and a lot more bad things will happen because of life's domino effect, but I refuse to let this happen. Will you stand with me and say "NO" or will you watch only to wish later on that you wish you could have done something.
Well I say do something now. Don't become afraid to spend. Be better with your money, be smarter. Spend on what you need. Spend on American made products so we can boost our economy and prevent what most think is inevitable.
I don't think the citizens of the United States are a weak people. I think that they see the media and they say we can't do anything, but we can. Believe in our nation and the economy will come back. We are the Worlds Greatest Nation and I proudly stand by that, like the soldiers fighting for our freedom, we must fight to keep their home together. I ask you, what nation is worth defending if there isn't anything to come back to? We have to keep everything together on our part so our soldiers who gladly give their lives for us can come home and have a home.
We must take our stand. Do something to help the economy and each other. We must pick one another up. Please!We don't have to be royally screwed!!!
-
-
FRED4JUSTICE
-
Thank you, you are so correct, and nowhere is it more true that you create the world to match your beliefs, and that truth is a fundamental good.
The bail-out boondoggle is presented to us by politicians and the media is based on a distorted view of the problem that puts the horse before the cart. The key to the economic problem is that the real estate market tanked, and that is why the loans are upside down, or not worth face value, not the other way around. say in 2005 a house price was $250,000 and lots of folks rushed to get a $200,000 or $250,000 loan, because the rates were low, the economy, jobs income was booming, and prices were rising, as they always had in real estate... we all knew back then that the american home was the best and safest investment in the world..... then the FED got scared about inflation, so raised the rates ... every month for a year and a half, until the real estate market screached to a halt, then hack politicians like schumer tried to get free publicity by scapegoating banks with a few examples of ignorant borrowers swindled by mortgage hucksters.. the banks became the badguys for lending money.. so what did they do? they stopped lending. then the real estate market really melted down, so the $250,000 house is now worth $100,000 and the homeowner/borrower is begging the bank to take it back, so they can buy the same house next door and cut thier mortgage payments in half, which they must do because thier jobs and incomes have also fallen. On top of all this other housing expenses - taxes, utlities, and homeowner insurance spiked to all time highs, just as household incomes and equity were dropping. Home equity is the main form of household wealth, so america is now poorer, spending less, driving down employment and incomes - this is the key to our sluggish economy.
The FED tried too little to late to get the banks to lend by giving them a really low discount rate, below 2%, but the banks instead borrow billions and instead use it to speculate on wallstreet, driving up the price of commodititys, like Oil futures, causing gas prices and inflation to rise.
The answer to this problem is simple. Instead of bailing out goldman sacs executives, fund FHA to lend directly to homeowners at very low rates, similar to the 2% the banks already borrow at, this costs nothing, because the fed is already lending to banks at these low rates, we just eliminate the middle men and go directly to the mortgage loans that we want to fund to fix the problem. Allow homeowners to refi at the short sale value of thier home so they can keep thier home instead of buying the house next door. This will restore the housing market, home equity, employment, and income to the middle class..
- 3 years ago
-
FRED4JUSTICE
