Question…
Is it me, or do people seemed really too married to their principles?
In this case, I mean Republicans who want thin government and even thinner government spending. I understand the principle and I often agree with it, but what are we to do when people are losing their homes and jobs at an alarming rate?
Democrats do this as well, they’ve been demonizing banks as if idiots who bought homes they couldn’t afford are blameless.
I just don’t know if we’re so in love with our principles that we’re willing to go hungry defending them.
I think both parties are in cahoots. They’re setting us up for a dictatorship.
Their goal is to put the people into a state of ignorance, chaos and confusion then offer the “perfect solution”–someone who will say, “follow me, I’ll take good care of you…”
That’s just my humble paranoid-like opinion…
Well you gotta demonize someone. And both parties are equally guilty of going along with the idea that consumption and spending equals a healthy economy. The real demon is the low interest rates that gave all of America the change to get in as much debt as the government.
I agree J, although people not recognizing their own choices may have negative consequences is also in play here. Can’t just pretend people were completely taken advantage of. There’s also the issue people buying second homes to flip them quickly, aren’t homes supposed to be places to live? The hyper-inflation of prices happened across the board here.
What we’re witnessing is our economy stripped of its performance enhancers: easy credit. Our economy has lived off of lending. We borrow money for all of our goods and services and produce nothing, leaving us void of any real capital, wealth, or economic base. The last administration exacerbated the situation, but the problem has been lurking for a while. It is only now, that we’re feeling it because we’ve leveraged ourselves to the brink of bankruptcy.
We have seen this before. As J.March. earlier commented, we hae to remember that people have made choices( out of desparation or not) to buy homes that they could not afford . This financial crisis made the bottom fall out for them sooner rather than later. What ever happened to living within our means. Working that second job(it worked for my father).As a democrat, I have issue with the party not blaming those responsible. Yes, the banks are at fault, yes the new mortgage holders are at fault. Am I naive or are we letting people use their ignorance of their financial “prowess” become a scapegoat for their financial failure. Live within your means,not within the commercial view of how we should be living. I do not “keep up with Joneses’” I do without. We do need to get back to that thought process. Heck, there is always someone who has more than us, someone richer than us with more “stuff”. Who cares. If I have the extra,Yeah. I spend it. If I don’t have it., I don’t get it. Period.
I am convinced all Americans individually must return to living according to their salaries and really learning to save, and do their best to plan for the rainy day. Then, they will want to invest, but not based on a risky debt plan, but their surplus. Isn’t the debtor slave to the lendor?
I believe the government must not try to borrow its way out of this crisis. If there is no market for jobs, any attempt to prop up jobs, save them, and create new ones will fail in the short-term. maybe really short.
I can’t understand why we won’t live by the simple phrase: “We shouldn’t spend more than we make”.
Whenever you take money from people who have more money and give it to the people who have little, none, etc. you take away incentive for anyone to make money. Therefore, you will see the socialist state take more and more power and eventually wipe out most of the entrepreneurs. That will happen as the new tax becomes law for those making more than 250K. rich people are already finding inventive ways to make less than 250k. the monies this administration thinks it is going to get will not be as much as it thinks. follow the logical progression yourself.
Lastly, I have lived in Austria and Hungary the better part of the last 5 years. During this time, I have seen what it is to live in a socialist state. Each country has a minimum income tax of 45%. They have few new businesses, few entrepreneurs, and most love the entrepreneur spirit of Americans. I understand that borrowing has allowed for much of these entrepreneurs to have a chance, and am for this, but it also must be kept at conservative levels.
FYI: to buy a home in Hungary, you must have 50% downpayment. You think anyone fakes their income there? not cheap homes, either.
great article, very insightful- america-nation of renters.