We're going to get back to a regular schedule around here now that things have settled down a bit at home, and it's going to start by breaking one of my own ruled. That's right, today we're going to talk about politics. Consider this your chance to flee.
Waiting...waiting...writing in gerunds...
Okay, now that the cowards are gone, let's discuss the housing market, because I'm a little confused about a some things. First, are we or are we not a capitalist society? Shouldn't that mean that people invest money into things that they hope will pay off in the future? If it does, great. If not, they lose out, dress their wounds, and move on, wiser.
Apparently this isn't the case anymore. Now, if you win, terrific. Good for you. And if you lose? Why, the government will sweep in and start writing relief checks, funded in large by those of us who are struggling to pay our own $&^#ing bills right now.
I know, I know - a large part of this bill goes to saving people's homes. But as I understand it, a lot of these are the people who are in trouble because they thought they could get a variable rate or balloon mortgage and use it to buy a house way out of their price range. I keep hearing about how the lending industry mislead people, but you know what, I wanted to buy a house too, and didn't because I can read. I would hope that the claims of American ignorance are hyperbole at least to the extent that poeple are not signing legal documents without taking the time to read them.
What's even more bothersome though is that part of the problem was that the government felt the need to interfere in the first place. So some time ago, the government decided that it had to rally against lenders not giving out mortgages to the poor. Now, I don't want to seem unsympathetic to people who have real problems, but again, focus for a moment on where we started this talk. A captalist society is being regulated because banks will not give out loans to people who probably won't be able to repay them. So, the elected officials get to say how they helped the poor afford houses (an excellent talking point during an election), and then a decade or two later the elected officials get to reprimand the lending industry for screwing up the economy and point out how they voted to provide relief in this time of need (another excellent talking point).
I guess what's bothering me is the nagging thought that if the government had just stayed the &$%# out of the lending industry's business in the first place, then the market would have regulated itself and we wouldn't be in this mess. Maybe I'm wrong. Maybe we would be equally screwed, just through different forces. Maybe this entire posting is just one big troll to see if anyone will actually get mad enough to write a comment (doubt it, but I can never tell these days).
The only thing that I'm sure about is this - I definitely get the feeling that the government is overly involved in our lives. I'm starting to wonder if maybe they should worry about things like national security and standard public services (police, fire, libraries, etc.), and not so much about babysitting everything we do to try and protect us from ourselves. I would say that this opinion sounds too close to being Republican for my comfort, but as far as I can tell the GOP is just as quick to cut checks and butt into our lives as the Dems, so the line between them is beyond blurry these days.
On the bright side, complaining about big government is sure to up my readership as I get added to watch lists. Sweet.
2 comments:
"...people who are in trouble because they thought they could get a variable rate or balloon mortgage and use it to buy a house way out of their price range."
BINGO!
I often wondered why we were approved for a loan for literally twice as much as the house was worth.
I agree. The government should not be bailing us out all the time. Just like raising a child, there has to be consequences for our actions. We over spend and then look to Uncle Sam to haul our sorry butts out of the water!
M-I-L
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