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To: vpFREE@yahoogroups.com
From: "elijahbailey12" <elijahbailey12@yahoo.com>
Date sent: Tue, 23 Mar 2010 15:02:07 -0000
Subject: [vpFREE] Re: Startling VP stastitics
Don't fall for the headlines. The government "bailout" has so far produced a very nice rate of
return for the government. The real issue is falling real estate prices. Real estate declines led
to an inability to finance lifestyle with mortgage refinances which led to the current recession.
A byproduct of recession is unemployment.
The problem with the economy is unemployment. Don't fall for the smoke screen. Wall street is
convenient but the house of cards was more related to individuals spending over their income level.
But, why blame ourselves when we can point fingers?
--- In vpFREE@yahoogroups.com, BCarStew@... wrote:
Bob,
I hear ya.
We used to be fairly wealthy.
Three quarters of our net worth disappeared overnight.I never did the crazy loans- I always used to put 20% down payment AT
LEAST- and often paid all cash for our properties.
I had no idea that these "fog the mirror" loans were happening on a large
scale. If I had known, I would never have invested heavily in real estate
because it's just common sense that the whole thing was a house of cards
waiting to collapse. Prices cannot escalate forever. A child should know this.I think it's AMAZING that those in government, banking and Wall Street
thought it could go on forever- or maybe- just maybe- they didn't care
because they KNEW that the taxpayer's would bail them out if it did collapse. I
think that THIS is the most likely case- they simply DID NOT CARE.Now the government said that it was Wall Street and Bankers- not them. If
ONLY the regulation had not been removed.Well, who controls our government?
Answer: WALL Street, Bankers AND Unions. Not the people. We just get the
privilege of paying for everyone else's mistakes. If you feel like an all
day sucker, you should because THAT is what you are. We all are big fat Black
Cow all day suckers who are so busy blaming the "other" party that we
cannot see that we are being HAD by BOTH parties.Bruce