Sometimes our readers say it so perfectly it deserves the world’s attention…
“The purpose of the media is to provide sound bites, rile the masses while
keeping them subdued at the same time, and evoke a sense of fear. Our
government wants us to be afraid, because fear allows manipulation. Think
of the war on terror, war on drugs, war on poverty, peak oil, and global
warming All of these wars are directed at the populace by the government
and through the media. Wars on anything allow governments to redistribute
resources and levy taxes. We have to get ourselves unafraid and start
thinking, rationally, about how much sense this propaganda makes.
Bad news sells – good news does not. People gravitate towards trajedy to
gain perspective of their own lives. Back when I was a kid the poor
starving children in China was my perspective with regards to my life. The
fear of starving children in China was used by many adults to get their kids
to clean their plates. I actually had a friend who was convinced that if
she did not clean up then a child would starve in China. No doubt, my
friend had a weight problem at the ripe old age of 8. The media also
provides a platform for people who do really stupid stuff (like let their
babies drown in swimming pools) appear remoursful, in need of sympathy, and
not at fault. I still have not figured out how a child can drown at a pool
party with lots of adults around.
I have been reading more about this housing bill and I am seeing hints that
this may be more skewed towards an eminent domain bill. It may be up to
the counties and those cities within the counties to organize, take over the
properties and either lease them out or bulldoze and allow people to plant
community gardens and orchards. As a positive, if the states are smart and
can get assistance from benefactors and the business community, I can see
more housing for students, more housing for people who qualify under H.U.D.,
more halfway houses for non-violent offenders who can be rehabilitated, and
homes for children aged out of foster care and nowhere to go. Small
businesses could also lease out these homes, as could seniors who don’t or
can’t live alone, but don’t want to live in traditional assisted living or
nursing care facilities. Yes, this is very utopian but I don’t see as there
will be any money for big commercial developments. And what a wonderful
opportunity to see kindness and healing prevailing over greed.
Andy, I hope we don’t see hyperinflation and I am going to keep thinking
positive on that one while I make myself drunk on my expensive Belgian
chocolate. The next big wave of credit cards, car loans, and student loan
defaults may show Bernanke et al that the patient is dead and life support has been
disconnected.
What happens when the pay-options reset next year is a guess, but I don’t
believe that this housing bill is looking out much farther than the day
after it goes into effect. I also believe that the main focus of this bill
is getting/or keeping people into homes that are vacant or may be vacant
this year.
I don’t know if the prevailing events are what Shumpter had in mind when he
spoke his theory of creative destruction, but what is coming up in the
credit markets could unravel the existing structures and even allow some
semblance of financial sanity in its place. This, to me is what Paulson and
the bankers do not want to have happen because it will expose them as well
as bankrupt their fiefdom and those they serve. If indeed bankruptcy was
not a possibility I do not believe we would be seeing such papering over and
further tampering in the financial markets. Those with the most to lose tend
to lose the most, thus it is in their best interest for now to keep as many
SIVS and other conduits off the books. Marking to market can be a real bear
as perhaps Merrill Lynch is discovering.
The hilarity of this is that with more stuff piled on top of the existing
structures the weaker these structures become. I’m wondering about the
introduction of covered bonds and if those fail where do they go? Into the
Fannie and Freddie vault? Truly we are witnessing the insanity of greed.
One my favorite authors,Taylor Caldwell stated that “Love is the imminent
destroyer of logic and intelligence.” I think I would substitute Greed for Love.
There are some good statesmen in office and these will be the men that
eventually lead us out of this mess. And, until the devasting effects of
boom and bust cycles are understood history will continue to repeat. The
current dislocations and maladjustments in the credit markets today and coming up
portend a situation that will take several years to clear.” – Joan from AZ
Comments from a MTC reader
Sometimes our readers say it so perfectly it deserves the world’s attention…
“The purpose of the media is to provide sound bites, rile the masses while
keeping them subdued at the same time, and evoke a sense of fear. Our
government wants us to be afraid, because fear allows manipulation. Think
of the war on terror, war on drugs, war on poverty, peak oil, and global
warming All of these wars are directed at the populace by the government
and through the media. Wars on anything allow governments to redistribute
resources and levy taxes. We have to get ourselves unafraid and start
thinking, rationally, about how much sense this propaganda makes.
Bad news sells – good news does not. People gravitate towards trajedy to
gain perspective of their own lives. Back when I was a kid the poor
starving children in China was my perspective with regards to my life. The
fear of starving children in China was used by many adults to get their kids
to clean their plates. I actually had a friend who was convinced that if
she did not clean up then a child would starve in China. No doubt, my
friend had a weight problem at the ripe old age of 8. The media also
provides a platform for people who do really stupid stuff (like let their
babies drown in swimming pools) appear remoursful, in need of sympathy, and
not at fault. I still have not figured out how a child can drown at a pool
party with lots of adults around.
I have been reading more about this housing bill and I am seeing hints that
this may be more skewed towards an eminent domain bill. It may be up to
the counties and those cities within the counties to organize, take over the
properties and either lease them out or bulldoze and allow people to plant
community gardens and orchards. As a positive, if the states are smart and
can get assistance from benefactors and the business community, I can see
more housing for students, more housing for people who qualify under H.U.D.,
more halfway houses for non-violent offenders who can be rehabilitated, and
homes for children aged out of foster care and nowhere to go. Small
businesses could also lease out these homes, as could seniors who don’t or
can’t live alone, but don’t want to live in traditional assisted living or
nursing care facilities. Yes, this is very utopian but I don’t see as there
will be any money for big commercial developments. And what a wonderful
opportunity to see kindness and healing prevailing over greed.
Andy, I hope we don’t see hyperinflation and I am going to keep thinking
positive on that one while I make myself drunk on my expensive Belgian
chocolate. The next big wave of credit cards, car loans, and student loan
defaults may show Bernanke et al that the patient is dead and life support has been
disconnected.
What happens when the pay-options reset next year is a guess, but I don’t
believe that this housing bill is looking out much farther than the day
after it goes into effect. I also believe that the main focus of this bill
is getting/or keeping people into homes that are vacant or may be vacant
this year.
I don’t know if the prevailing events are what Shumpter had in mind when he
spoke his theory of creative destruction, but what is coming up in the
credit markets could unravel the existing structures and even allow some
semblance of financial sanity in its place. This, to me is what Paulson and
the bankers do not want to have happen because it will expose them as well
as bankrupt their fiefdom and those they serve. If indeed bankruptcy was
not a possibility I do not believe we would be seeing such papering over and
further tampering in the financial markets. Those with the most to lose tend
to lose the most, thus it is in their best interest for now to keep as many
SIVS and other conduits off the books. Marking to market can be a real bear
as perhaps Merrill Lynch is discovering.
The hilarity of this is that with more stuff piled on top of the existing
structures the weaker these structures become. I’m wondering about the
introduction of covered bonds and if those fail where do they go? Into the
Fannie and Freddie vault? Truly we are witnessing the insanity of greed.
One my favorite authors,Taylor Caldwell stated that “Love is the imminent
destroyer of logic and intelligence.” I think I would substitute Greed for Love.
There are some good statesmen in office and these will be the men that
eventually lead us out of this mess. And, until the devasting effects of
boom and bust cycles are understood history will continue to repeat. The
current dislocations and maladjustments in the credit markets today and coming up
portend a situation that will take several years to clear.” – Joan from AZ