[Homestead] An International Analysis of the Credit Debacle

Clansgian at wmconnect.com Clansgian at wmconnect.com
Sun Oct 7 17:12:10 EDT 2007



> Ethenol is like busy work.


OK.  That's rather handily put.  A couple of days ago the head of the FDIC 
said the solution to the housing bubble and debt crisis was for mortgage holders 
to simply keep the loans at their teaser rates (1% to 2%) and convert it to a 
30 year fixed mortgage at those rates.  Whaaa?  Can't these people do 
arithmetic??  It seems like everyone at the helm now making important decisions is an 
imbecil.  I keep hearing all the new crop of presidential candidates chanting 
'Ethanol, ethanol, ethanol ..."  Whether they are that ignorant or that 
corrupt or both and then some is little odds.

Energy-wise ethanol is indeed busy work.  But in another way it is far more 
destructive.  If we simply burned the petrol in our cars, we'd still have some 
topsoil and water with which to grow food, even if we had to do it by less 
mechanical means.  The way it is going we are going to end up out of gas and food 
at the same time.   </HTML>


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