We have lost,, our way!

How did we get here? Let me count the ways, or better yet, let’s have Obama do it for us. “We spent too much money”. That’s a reasonable observation. But Obama has spent roughly $36,000,000,000 every day since he took office. We’ll talk more about that tomorrow. We did spend too much, on houses with prices that were spiraling out of control caused by banks that were financing people incapable of paying the loans back. Giving easy money was the main activity that fuelled the housing bubble. Why did the banks do this? The banks were actually encouraged to do so. And who would do such a thing? The government, in it’s effort to get un-credit worthy people into affordable housing. Freddie Mac and Fannie Mae, they were told, would buy these worthless loans from them. Why? For the real answer to that you would probably need to waterboard Christopher Dodd and Barney Frank. It’s about the only way you’ll ever get a straight answer out of either one of them. Its no wonder Obama has banned the procedure.

So here is part of the cure. Refinance Americans homes so their payments are more affordable, so that they can spend more money. Arrr, I thought that’s how we got here. While this seems reasonable to some, many Americans that acted irresponsibly, would need to have their mortgages re-worked to make this happen. This type of action will only feed the class envy/warfare that liberals feed on so well. If you can’t afford the neighborhood that you live in, GET OUT. It’s just not right expect your neighbor to warm to the concept that he/she is paying “a full boat note” for you to have the privilege of being their neighbor. At present there are plenty of rental property units available to these people at much lower rates than their current mortgages. This would give those people more money to spend. Is my house worth less than I owe on it? Yes, but you don’t hear me crying and bitching about it. Real estate should not be looked at as an investment in anything other than your own stability. Can’t deal with the ups and downs, then you should rent.

It would be impossible to comment on Obama’s entire state of the union address without writing a book. Even though it would be easier to read than the “stimulus package”, that the senate did NOT read. We’ll take a step-by-step look at these other issues starting tomorrow. Stay tuned.