Wednesday, April 1, 2009

Here we go again

A major reason that our economy is in this shape is because of the big push to get people to buy homes that previously could not afford them. I remember Barney Frank and his Democratic colleagues bragging to the media about how wonderful it was. The problem was, many buyers still couldn't afford these homes, regardless of how much meddling with Fannie and Freddie our politicians did to help these loans get approved.

So, now we know. Well, sort of. Word on the streets puts Bush to blame, and somehow it has been forgotten who started the push for these loans.

But, it seems the lesson learned may have already been forgotten, too. Now, the auto industry is telling people to go buy a car, and they will cover your car payments if you lose your job. So, if you are worried about being able to afford a car, stop worrying and go buy one???

Don't forget, these auto loans are backed by companies that our government is backing with our tax dollars. So now, I get to pay for someone's beautiful new car, which is parked in the garage of a $350,000 home, even though they may have bought both knowing full well they couldn't afford it. All the while, I work 80 to 100 hours every week for less and less money.

Ah, yes. Aren't our leaders just great?

2 comments:

  1. Right on! It's like bailing your lazy kid out every time he's in trouble. Or buying him every thing he wants after he's fully grown and capable of making his own way. You become an ultra enabler.

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  2. are you seeing any activity out there from your kind of job?

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