Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: SGJ who wrote (71312)	8/30/2009 7:12:28 PM
From: MJ	1 Recommendation Read Replies (1) of 224748

2010 is too long from now-----the damage is being done now. I am not optimistic-----what the answer is or answers are I do not know. What I sense is that the Obama Administration hasn't a clue. So that brings us to the big question who is capable of leading and stopping the tide of the ever increasing Obama Trillions-----Obama is as someone noted like a kid in a candy store, more candy, more candy---only it is more debt and more debt. Obama is used to a cashless society. This I believe is part of the big problem. When we went to a cashless society-----to a society that doesn't write checks---the society was not prepared for a check free society and the system fell apart. Similar has happened with the mortgages ----realtors, mortgage brokers were eager to help people secure mortgages--it meant commissions and a lively hood for them. New developments sprung up. Homebuyers were thrilled never suspecting that these mortgages could turn sour as lenders devalued their homes and cut the home equity loans in half. Seems to me that a mortgage and home equity loans are contracts that should go both ways. If a mortgage banker devalues the home by 50% and cuts the home equity loans by 50%, then the homeowner should have their debt reduced by a commensurate percentage. In other words you can't devalue part of the economic system and not also revalue the amount of the loans. In other words a total revaluation of those loans is in order. Ultimately this may be what will happen with the National Debt; however, as long as our debt is secured by other nations it seems likely that that would not happen. mj

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