[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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