This is pure SPAM...sensationalism at it’s worst..download and pop it into the Spam Bucket...
In the first place, yes there is a problem in the sub-prime market but the orderly workings of the real world will resolve the problem. The core problems of the sub-prime market are several but the solution to this is not to have a severe recession or a depression worse than 1929, where unemployment grew and the money stopped flowing. The solution lies in keeping up the increases in new jobs, increases in wages, keeping a lid on prices through good cost control, stable tax policies,and the banks and the homeowners working together to keep the people in their homes through good banking practices......one solution that would have immediate effect would be lower the mortgage rates back to where they started, allow a 1 % increase after 1 year and then after 5 or 10 years cap the rates at a maximum of 3 % over their original rate..Some mortgages had a 6 or 7% max cap over the original rate—too wide a margin...and also- stop the interest accrual on a daily basis which is the hidden knife in the back to the homeowner..The banks would howl but let them- they are still making Billions through their fees and ATMs and credit cards !...Meanwhile the working families would be able to stay in their homes and continue to make their reasonable monthly payments.
The government is also at large fault by stating that inflation is under control at 2 or 3 %..That’s baloney...more SPAM...Any fool can tell that a $50,000 house that is sold for $175,000 has certainly had an inflated value..That’s price inflation...Add to that huge increases in many other areas- homeowners insurance, property taxes, college tuitions, private school tuitions, incredible malpractice insurance rates, sky high auto repair prices and in all this the govt looks the other way...
As for the Amero..and America annexing Mexico and Canada, dream on kiddo..America has enough problems and doesn’t need to add 50 million more....annexation won’t happen and any “Amero” would take 10 to 20 years to take effect, just like the Euro..The writer of this article needs to go back to school and take a few more courses in Economics and History and knock off the creative writing. This is trash.
The banks are in charge and the Fed is their lackey.
The Democrats and Rinos in Congress have no control over the Fed.
BUMP