Upcoming Foreclosures

Why cant our government listen to logic?

If our congress put aside a federal law for 2 years for banks to be allowed to lease all homes near or in foreclosure for 1/2 price of payments, also mortgage companies to and lock down all credit cards at 12% and accept payments at normal payment price at todays date 2007. then our economy would change for the better. all home owners would pay the taxes, ins. upkeep and after 2 years all payments would resume at normal payments. homeowners win, banks win, all mortgage co.'s win also. they each get rent for 2 years then back to normal. this way the homeowner can pay off credit card debts by making doubling payments, since your renting for 2 years at half price. as is hfc is the wrong way to go. if you get a raise at work it goes to your house payments, instead of normal needs. I SUGGEST YOU WRITE YOUR BOOK SOMEWHERE ELSE, JUST A SHORT VERSION TO COMMENT ON THIS QUESTION IS CALLED FOR the stemulous package is a $300 to $600 check. people are loosing their homes, rather than loosing their homes they could lease their homes at half price, so they can wipe out their credit cards since it would be half payment from 2007, not 2008. responsible people would do this. click this= http://www.socyberty.com/Activism/First-Step-for-the-Solution-to-Global-Warming.103109 if you start a salvage co and do the first step, you may get rich from under the sand, India found a old stone building in the sand near the beach and ships for the last million years have been beached or storms have sunk them so you a honest job and help to delete global warming at the same time. you may even get a grant for the cost, who knows.

Public Comments

1. If there is an honest way to get rich quick, I haven’t found it. Of course, you might win a lottery or one of those super jackpots at a casino, but that is serendipity in spades. All of the people I know who are rich worked like coal miners at their chosen field. I’ve never hung out with the heirs of fortunes. A man who had became a millionaire told me once, “Anybody can become millionaire, but to do it you have to think making money 24 hours a day, seven days a week.” Well, that cut it for me, because I’ve always thought the world is so much more interesting than obsessing about money. There are a lot of beautiful things to see, interesting conversations to have and fascinating things to think about that have nothing to do with making money. I’ve always preferred the Buddhist advice, which is that it is easier to limit one’s desires than to make the money to satisfy them. I owe many pleasant hours lounging about the beach or in the woods to that advice. Another bit of wisdom passed on by my Latin teacher, rest her lovely soul, was that the Romans believed a man becomes a slave to his possessions. That’s quite true. Stuff has to be acquired, maintained, stored, protected and often insured — all of which takes money, which, of course, means work. I have some stuff in my home to which I attach some sentimental value, but there is nothing in it that is really worth stealing. I’ve never been a collector of anything except books, and then only books I wished to read. My furniture is probably best described as Early Thrift Store. My car is a sixcylinder 3-year-old. I carry one credit card and pay it off at the end of the month. I used to dream of being able to pack one suitcase and walk out the door and leave everything else behind. Alas, with the family to provide for, I never achieved that level of mobility. It’s not a bad goal to shoot for, though. Most of us, if we give our stuff an honest look, see it is sitting about collecting dust. You can wear only one pair of shoes at a time, one suit of clothes, drive one car and eat a modest amount of food, no matter how much extra you can afford. I’m not advocating poverty, mind you. Poverty is both hard and cruel. It means being unable to do things for people you love and care about. It means neglecting basic things like a good diet, health and even going to funerals. I worked for $40 a week and less than that, and I much prefer more income. If it were up to me, I’d set the minimum wage at $10 an hour. The point of all this meandering is that the economic difficulties we find ourselves in are due squarely to greed. Too many people got caught up in the housing bubble and believed that real-estate prices would rise forever. The moneylenders weren’t satisfied to make legitimate loans and started lending money that they had to know people would not be able to pay back. The financiers bundled all this paper and traded it as if it were solid gold. People maxed out their credit cards, some even by buying China-made junk. Lawyers and doctors hiked their fees and built mansions. Banks built the castles. Look at any city skyline, and chances are the tallest buildings are banks, which deal in nothing but paper. Chatter heads and politicians talk incessantly about growth, which is impossible to maintain forever. Doesn’t anyone value a stable, steady economy? Greed breeds ostentation. The only reason in the world for somebody to pay $10,000 for a pair of shoes or $160,000 for a car is to show other people how wealthy he is. Many of the people who sell that overpriced stuff laugh at their customers behind their backs. The basic laws of human behavior, which are the basic laws of economics, don’t change. We have created an overextended, debt-strangled economy, and the rush is on to lobby the overextended, debt-strangled federal government to rescue people who don’t deserve it. Looks like we’re going to create the world of Charles Dickens all over again.
2. What? To make a logical arguement, there needs to be actual logic involved. It sounds like you think that when people get “extra” money that they’re going to pay bills with it. Are you serious? Have you heard about that economic stimulus package? They’re not giving that to us because we’re (meaning the general population) responsible with money; they’re giving it to us because they know we’ll spend it on crap. Where are financial institutions supposed to get the money to make up the difference between what they should have made and what they will make under your proposal? Interest income allows banks to make more loans, and it seems you want to take it away from them. How does that help fix things? And of course the biggest problem with your “logic” is that it takes the free market out of the picture. Sit back and let the invisible hand do what it does. It will work out in time.