Massive Wave of foreclosures coming

Originally posted by Make Speed Limit 45
OK with me. Let the foreclosures come. Greedy homeowners are as bad as the bankers.

Most people buy homes at payments they can manage.. the devaluing of the Dollar from 2001-2008 led by it's self to a 30% increase in the basic costs of living. From electricity, gas, food to ordinary things you would buy at a store. Meanwhile the top earners in this country saw salaries expand well beyond the measures of Inflation, while the Middle Class saw negative growth in relation to Inflation. This left a ever growing budget gap in the normal ways of living for average Americans. Families earning respectable incomes suddenly caught themselves loosing a larger portion of their income to basic necessities.

Now most charged the balance of that gap to credit, and continued on their way of living. Perhaps this is "greedy", I thought so to when this mess first started. But when you really look into it... it's not greedy. It's sad. We as a people held on for dear life to the very things that made us who we are.. our creature comforts yes, but it was our way of life. The problems that would bring their credit to an end, cause them to finally default, to loose their jobs and end up at the bottom wrung of society are so far beyond their personal financial choices that it makes me sick to think we still blame the homeowners.

The rules and methods used by the last administration to expand a dead economy to finance the empire, and the continued abuse by this administration and the financial "regulators" caused the problems, destroyed us internally like a rot. But that in and of it's self being only a symptom of the true problem:

Complacency. People with their heads so full of propaganda they can spew ignorance regurgitated from national news networks they pick up from their favorite talking heads. It's these people, like your self, like many millions like you from all aspects of the political spectrum that led to the situations we now face. It was not a financial meltdown, it was a Mental meltdown. Complacent in our ways we thought we could continue indefinitely without a second thought regarding who managed this country, it's finances, it's policies. And through complacency comes Corruption, through Corruption leads a breakdown of their very mechanics that runs our society. And all this can be passed on to the weakest people in society. Those without a voice to plead their case. The ones most effected by the turn of events. We can cast blame onto them because we are taught from an early age to look down on the "lower" class of people. Those who go bankrupt and foreclosed where obviously to poor, to ignorant, to stupid to own a home, and they went and bankrupted the country.

But no one is remembering those people now being kicked out onto the streets with our backs turned to them where our neighbors. School teachers, construction workers, small shop owners, factory workers.. the very people that make up this country. And how are we treating them?

With Complacency.

Went to my tax accountant recently. She is dealing with a few clients who had bought a house they knew was more than they could afford (>$1M+), get a line of credit (how did they do that?), use the line of credit to buy most or all of a smaller house.

Yes, Congress has been corrupt for some time. No difference between left and right, no difference between Bush and Obama as the lot of them are no better than another, and they all want to create a monster sized government.

Want to see corruption in a video? Watch these Texas representatives vote for as many other representatives as possible: media.abovetopsecret.com...



[edit on 13-4-2009 by Dbriefed]