Obama's Mortgage Plan - AM I WRONG ON THIS????

[War-Horse]

we don't need communism or socialism and that would be much worse

we need some combination of government intervention but utlimately the private sector will prevail.

There is a lot of money sitting in cash that will start to trickle back in at the first signs of asset stability.  Once someone dips their feet in the water and does OK others will follow along

My mistake. I dont support comunism or socialism.....i meant in regard to the changes that Obama has outlined, some of the guys are calling it that.

But i say a litttle govt support is needed at htis point.   Just their hysterics going on,i guess.

[Straw Man]

Like Peter Schiff says - the collapse is the cure, not the problem.  there are worse things thaan banks going out of business.  GWB actively promoted these liar loans and erasing of bank standards his whole presidency. 

Schiff has a vested interest in seeing a crash

He's been promoting the idea for years and is probably positioned to big $$$'s if it happens

[stormshadow]

People that can afford them?  Why?  And where should they then go?

They can rent.

It looks quite possible.  What type of system would be your ideal?

Currency that is in itself - or directly linked to a standardized system of measure regarding an actual substance, instead of a floating value fiat currency like we have today.

A dollar is arbitrary, but an ounce is always an ounce.

I have a buddy who is a Home Builder.  More and more his buyers are unable to secure a loan from a bank and they are paying him directly.  So far so good as far as I know.  I'd be interested in your thoughts on this.

Bank credit is a complete fraud.  Houses would not cost 3-5 times someones yearly salary if a bank was not creating the fiat currency to enable it to be bid up to that price in the market.

I think that is a fantastic idea.  What does the builder make off of a house he sells for 300k?  The bank makes 345k in interest and they never even loaned the money in the first place (They Risked Nothing !!).  They created it from your credit and labor which you pledge to them for the priviledge of letting them monetize your OWN CREDIT.

[Soul Crusher]

good for you

most of the stuff you posted on this thread is jibberish

Bump.

[240 is Back]

Why don't they just print 100 gazillion dollars and spread it around to everyone? That should get the economy going. 

Ron Paul DisApproved.