Sep. 18th, 2008

firesion: (Default)
Right now the government is debating taking all the "bad" debt and then selling it to the tax payers. This will give the Banks even more money as they dump every home loan to the tax payers. What this means is that Banks will have money to buy stuff like other companies. On the other hand it means the housing market will continue to crash. You can only barrow so much money from people and give it to the wealthy. As it stands right now the Gov is forcing a 2 class system ultra rich and ultra poor. So if you have more money then me congrats you get to be one of the upper class. If you do not have more then 100+k liquid assets then you get to be poor. On the upside it looks like the Gov has a few people who understand that this is bad. Lucky for us they are even in the finance industry. Wish them good luck or get ready to live the next 20+ years in a new form of excess or day to day living depending.

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firesion: (Default)
firesion

January 2009

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