[oblomov]

The root of the problem is the desire of the majority of the polity to live beyond its means. So the government runs deficits, and the consumer has debt. Then a so-called unexpected crisis occurs, the debts can’t be repaid, and our rulers and commentators scurry to restore a “confidence” that should never have existed.

[ecomcon]

The root of the problem is the desire of the majority of the polity to live beyond its means. So the government runs deficits, and the consumer has debt.

Bump

[auntyfemenist]

You nailed the problem. For the last five years or so, I have noticed, that in my poor, rural area here in southeast Louisiana where there is no industry and very few really good jobs, people were starting to build these HUGE luxury homes. My parents are both lawyers, and we couldn't figure out how they were affording these places.

Now we see, they were probably given mortgages they couldn't afford. A could number of these places were recently built and have been empty for a year now. When did people start expecting to live in 5,000 sq ft+ houses? Living beyond ones means has become standard practice.

As for the government nationalizing the banks, the stage is being set for Obama’s reign. Within two years, he will revert back to islam and sharia law will start to be the rule of the land. It is easier to do when the government owns everything.

[An Old Man]

"our rulers and commentators "

Are you 10 tears old?