We’re All Homeowners Now:
10 Reasons to be Cautious About This Housing Rescue Plan for Motherland USA.
“I’m shocked, shocked to find that gambling is going on in here!” -Captain Renault, CasablancaMany of our elected officials were “shocked” and astounded to realize that the entire economy has turned into a glorified casino. Ironically, the quote above comes from Casablanca which translated into English means Whitehouse. How appropriate given the circumstances. How the economy can go from fundamentally sound earlier in the week to flat out meltdown mode where Hank Paulson had to not only use his bazooka, but also had to use his rocket propelled grenade with a nuke tip while jumping out of a window launching ninja stars and slapping the markets with brass knuckles is really amazing. This goes to show how quickly we can adapt our thinking. Remember long ago on the weekend of September 6th and 7th 2008 when most Americans were only coming to terms with the largest bailout known to humankind of Fannie Mae and Freddie Mac? As it turns out, it only took 2 weeks before we ended up pushing the easy button:
Well as it turns out, we’re all homeowners now. We went overnight from a tough stance of no bailouts letting Lehman Brothers go into bankruptcy this weekend to the biggest socialist intervention into the markets on Thursday. I’m just calling what occurred by its true name. This was the biggest socialistic move into the markets ever and will put the U.S. taxpayer at risk to the tune of probably $1 trillion. It makes the $30 billion pumped into Bear Stearns look like pocket change. Sure makes the $100 billion in proposed healthcare spending look like a bargain! We all will need healthcare after people realize the magnitude of this market intervention.
http://www.doctorhousingbubble.com/were-all-homeowners-now-10-reasons-to-be-cautious-about-this-housing-rescue-plan-for-motherland-usa/
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