Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (25630)	11/25/2007 9:49:44 PM
From: Maurice Winn	Read Replies (2) \| Respond to of 217713

From a legal point of view, even with huge debts, they are their houses of course. It's just that when mortgagees come calling with their legally backed demands, it sure wouldn't feel as though the house belongs to the actual owners and that the debt is a separate matter. But in a very real sense, the debt is only courtesy of the political system. Debt is like a community run insurance scheme. While things are going well, the insurers [the lenders] can make a lot of money, often for decades in a row. But when the crunch comes, the electorate can [and does] deem the debts void and there is a financial reset. The insurers [the creditors] then pay the price. Creditors are generally, and universally among human societies, seen as the people able to carry the problems of the community when big trouble hits. Until it gets that bad, the debtors feel guilt and fear and hide away, beaten by the legal system and better off creditors. Is it getting worse or better? Being at the sharp end, I guess you have a very good idea of the trend. Mqurice