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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (24350)1/10/2005 4:49:15 PM
From: SOROS  Read Replies (3) of 110194
 
The gov't is really missing one. What they should do is divert 75% of Social Security payments to purchasing homes (1st or 2nd ones) for everyone until 95% of Americans owned one home, and 50% owned two. This would prop housing and all the connected industries for many more years, which in turn would bolster the stock market, keep the "economy" going, and real estate would continue to climb so everyone's "retirement" monies would rise. Bush and most Congressmen would be gone before things fell apart, and they would be loved by the masses since everyone would be richer on paper. As people retired, they could sell their inflated 2nd homes on the market or take out 2nd or 3rd mortgages to live on until their deaths. I'm sure this could be tied into the insurance industry by purchasing policies that would pay off the mortgage debt when they died.

Wallstreet and the gov't need to get more creative than simply low rates, tax breaks, and keeping the consumer borrowing. I envision a country that utilizes 95% of the world's resources and savings. A country where 50% are millionaires on paper. A country where the average salary is $250,000 and the average home is $1,000,000. A country with a 20 hour work week. A country that takes 90% of the world's oil at gunpoint. A country that spends more on Jessica Simpson edible body powder than world aid. A country we can all be proud of . . . well, you can't have everything, can you?

I remain,

SOROS
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