Mortgage Refis Could Pump $80 Billion into the Economy - Barrons.com
Sadly, this seems more like misdirection in an attempt to overlook, ignore and turn away from the policy mistakes which make investing and having faith in the long-term viability of the American economy up for grabs.
We see in Europe how socialist cradle-to-grave welfare has crippled the economies. There is no growth and huge debts.
The same socialist model is at the heart of Obama and Democratic policies. These policies aren't changing! There is the dichotomy of those who believe 'demand-has-to-be-met' socially and those who believe you have to leave enough in the economy to support growth and reward for saving, investment and prudence.
This mortgage refi is again an attempt to award those who acted imprudently and its a blatant attempt to obscure the real policy issues that need challenging.
With Obama and others convinced and convincing the general public - as is also seen in Europe - that somehow money has to be there for all these union job protections, social benefit programs, etc - and, that higher taxes are an inconsequential inconvenience only (and heck, mostly against the rich and businesses), why should the public believe change is necessary to get back to a job-creating, robust economy?
Those living on the income from these mortgages (as with savers everywhere) are the people who ox will be gored to give one more liberal stimulus to equalize economic outcomes vs. opportunities.
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