Posted by
bsbs on Thursday, February 05, 2009 1:38:46 PM
No stimulus is needed.
What is needed is simple, dropping every home mortgage from it's current interest rate to 2%. This simple act will will provide 125 billion in cash infusion into the economy every month.
They will tell you it will put thousands out of work in the banking/financing sector. But look at WaMu, they fired 12k people from their banks in November because of the managment's mistakes. The increase in activity from the lowering of interest rates will create more jobs, more home owners having disposible income, and keep the dream of owning a home alive because it is now possible to afford those payments. Also, renters could also now enter the home ownership with the low rate.
Why do you have to repay 395k for a house that you bought for 100k? We're getting so hosed by the financial institutions. The reason we don't get lower rates is becaue of them and their influence in D.C. We should be concentrating on becoming a "2%" country. That means you borrow, repay at 2% The credit card interest/penalty % ; instead of the 28.9% drops to 2% and now you can pay and breathe.
If we are in a "Global Marketplace," why can't I go to Japan and order up a 1% home mortgae loan for my home in the U.S., it's because of the bankers and congress alliance to keep taking from us for themselves.
Guess what, there's nothing left to take, that's why Pelosi is trying to have 900billion printed into existence.
your thoughts......