Homestead mailing list

[Clansgian AT wmconnect.com]

In a message dated 9/25/2008 7:02:02 AM Eastern Daylight Time, 
lynnw1366 AT hotmail.com writes:


> >Listening to Bernanke and the president confirms that I live in a 
> different world than them. They both pointed out that one of the biggest 
>   reasons to support the bailout is so the banks will have money to 
> lend, so everyone can get credit again so they can buy houses and cars 
> and college educations for their children. Like that's a Good Thing? 
> Wasn't too much credit (to people who couldn't repay) the problem?
> 

You understand this far better than most.  The president's, Bernanke's, and 
Paulson's tragic flaw is they still see the world through the paradigm of 
Reagan's old "Tinkle Down Theory".  That is, the only way to make us common 
people 
prosperous is to make the rich much richer and then all that wealth trickles 
down, rising tide floats all ships, as it were.

It hasn't worked out that way and we will never get these types to see the 
world differently.  The entire bailout is based on this paradigm, it is gives 
money to the wealthiest institutions in the world in the expectation that 
someday, somehow you will get the residual effect from it.

It's like one collosal debt consolodation loan. 

And you are very right, Lynn, it will only add more fuel to the fire.  During 
the housing bubble I got ten or more telemarketer calls a week wanting to 
offer a mortgage on my farm  (which falls into the "when Hell freezes over" 
department).  Suddenly they all  stopped cold.   Then two days ago, another 
call 
.... "Now with the bailout of Fannie and Freddie, there is mortgage money 
available!  Don't you deserve that vacation?  Let us lend you the money on 
the 
equity of your home ...."   Just friggin' insane.

THe second most important message in all this debacle is that a life based on 
debt, a government based on debt, and businesses based on debt are a BAD IDEA.

It's very much like facing the upcoming fuel scarcity.  Instead of working 
hard at public transportation and redisigning citys and workplaces, what do 
we 
do?  Try to come up with more ways of putting more gas in the tanks!   So now 
having scorched ourselves on a debt society, our greatest concern is to make 
more debt available.   </HTML>