Created on Saturday, 29 December 2012 15:26 Published Date Hits: 1966
Since we’re talking about civil rights – we are, aren’t we? – let’s talk about “front loaded” commercial loans ... like your car and your house. How long before you own any part of what you buy?
The guy says you’re “upside down” on your vehicle. You’ve been making payments, but you have less than zero equity. You’ve been paying mostly interest. The same with your house.
The money guys get 80 percent of your house payment and you get $2 — TRUE!
There’s no equity (real value) in the housing market because the money guys took it all, and traded it all over the world. Who wouldn’t want a piece of that deal? Your $2 doesn’t count for much.
Maybe we can work out a fair and equitable trading agreement with American lenders. Let us spend some money and own a fair share of what we buy. Where is consumer protection?
On the money side: There are trillions of dollars out there and nowhere to spend it. America doesn’t look so good — no real payoff there. Europe is out — nothing’s worth anything and everyone’s out of work.
They’ve killed the goose that laid the golden egg. But we’re on the ground. I think we’ll be OK if we hang together.