Quote:
Originally Posted by Bucco
I am with you. I am so sick of giveaways to everybody....yes folks in banking and investment are getting rich...WHY...because they had a vehicle....this country saying we will GIVE a mortgage even if you cant afford it..even if you arent working...never mind earning !
We want to GIVE to people free everything..no more earning anything...we are imploding because what we are making is a very weak nation.
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One of the problems is that no one action stands alone.
With the "free mortgages" came a boom in housing construction to meet the demand. That resulted in greater orders for durable consumeer goods (e.g, refridgerators, washing machines, etc.), more staffing in the services industry (e.g, pest control, supermarkets), more municipal employees (e.g., water & sewage providers, police, fire, inspectors, etc.) and so on, and so on.
Our economic elements are interdependent, and when you mess with one, there is a daisy-chain effect to some degree on others.
What makes this latest debacle so untasteful is its handling.