Monday, December 27, 2010

Tent City


The land of the free and the home of the brave. Out of the houses and into the tents.

The American dream has not been so long forgotten that we forget growing up in a country where a good work ethic and some drive meant you could achieve home ownership. Paying attention to your monthly expenses, saving for a rainy day, and making sure to work hard was all it took. However, those days are either gone or on hiatus.

For decades people have been hard working responsible individuals that paid their bills on time, saved for the future, and contributed back to society. However, our current economy does not pay them the respect that their responsible nature deserves. Obviously I'm not referring to individuals that expect to be taken care of.

There is a common story across our once great nation. People that have earned, invested, saved, and WORKED for whatever they had are suddenly finding themselves with nothing. Retirement plans are emptied to pay mortgages, basic necessities, repairs, and other bills. Jobs disappear and the savings soon disappear also. Within a couple of years, people that were once thriving members of society are reduced to bankruptcy, no health insurance, no job, no money, and no help.

These people are sometimes willing to sign up for Unemployment or some other form of welfare. They have often paid into it for decades without once utilizing it. However, the sad truth is that these people played it safe and lost. They paid their bills on time. They worked every day. They saved for a rainy day. They planned for the future. Then, they lost their income, were not able to get jobs, and have utilized all of those resources they planned for so well.

Meanwhile, the government continues to dig the economy into a deeper hole with no end in sight. To those that once said "We have determined that your entire system sucks", maybe you were on to something...

The Mortgage Crisis

The mortgage crisis could not have been an accident. The people that "approved" the mortgages KNEW that:

  1. Were going to have prohibitive payments in 12 to 24 months
  2. Were going to be on property worth far less than what they sold for within 12 to 24 months
  3. Would be forclosed on because they couldn't sell for the amount of the mortgage

Bankers blame it on homeowners making bad decisions or not having foresight. However, those bankers get very uncomfortable when you point out that these mortgage were all approved by bankers that get PAID to know the market and it's trends.

When you point out that regular people like you and I saw this coming back in 2004/2005, they start to tap their fingers and look around nervously.

The short answer is that they set us up and we don't know "why".

Mortgages traditionally require people prove they can make the payments even when the market is not headed down. The banks knew exactly what they were doing...

The Media On It's Knees

Why is it that the mainstream media is clamoring on their knees in front of Obama as if their unwarranted affection will somehow lower his zipper and give them what they so desperately seem to want?