Subprime Slime

Are we still living in the USA, the role-model of a capitalist society. What happened to the invisible hand of the free market. We are actually discussing options where the government would come in and bailout all those 1-3 million people that are supposed to lose their homes.

Now I am not a heartless SOB but bailing people out for making bad decisions only perpetuates the problem. Not resolve it. Now comes regulation: Spend an hour with a mortgage counselor before you get a mortgage. There is a productivity hit to an already long an tenuous process. If we really want to educate, lets fix primary education where you learn the concept of simple and compound interest cause that is about the only math you need to know in order to get a mortgage along with the alacrity to read the fine print.

Consider the alternative, if the government bails folks out where is the cash coming from. All those honest taxpayers that have been paying higher taxes since they aren’t using their homes as a tax shield. Of course they could by print more money so the value of the dollar keeps going down and results in higher rates of inflation.

Americans have been living beyond their means for a few years and the hen is coming home to roost. Folks making $30000 were buying $300000 houses. Whatever happened to living within your means. I belive that everyone deserves a good life but expectations on what constitutes a good life have become whacked over the last 5 years. Everyone thinks an SUV and a McMansion are the twenty first century equivalent of a chevy and a ranch. The government already has a bailout clause for those that have been living beyond their means, it is called bankruptcy protection. Use it!

Just as folks were eager to accept the easy credit, now its time to pay for those excesses. Let the market work it out just as it did with the dot com bust and keep GW out of it. He has done enough damage already.