The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Skeeter Bug who wrote (251345)	6/1/2010 9:15:40 PM
From: neolib	Read Replies (1) of 306849

1. there is no fiscal restraint now. 2. we pay a trillion dollars in wealth for interest on the national debt with no fiscal restraint in place (over the course of about 3 years now, but it could easily go to a trillion per year with 8% interest rates). Not true. The current financial state of many cities, counties, and states is definitely forcing reality on them because money costs, and it costs more the shakier the entity is. This is very elementary. the fed has authoritarian rule over money issues. I am in complete agreement with you that our money creation via "anointed entities" is in needs of changing. I have no idea why some select banks get to skim a fraction of interest off all created money. if congress had to make the call and 99% of their constituents told them to vote "no" or they were gone, maybe the banks wouldn't have been bailed out. We part company here however. AFAIK, the average American voter would vote to make themselves "wealthy" and as a result, the average pol running for Congress would be the type who would legislate to try and achieve that result. Won't work. Think Zimbabwe.

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