The Conservative Cave
Current Events => The DUmpster => Topic started by: tuolumnejim on April 11, 2010, 01:12:16 AM
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DUmmy not towing the party line, must be a FREEPER! :lmao:
Link (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8128669)
penguin7 (930 posts) Sat Apr-10-10 10:46 PM
Original message
Obama Cheats The Poor
It is fine with me if our government helps the sick and the hungry and those in need.
But when our government takes the resources of one class of citizens to protect the investments of another class of wealthier citizens, something is rotten.
Our government is spending trillions of dollars to re-inflate the housing market. The government is buying trillions in bad mortgage backed securities through the Federal Reserve. Fannie Mae and Freddie Mac are making hundreds of billions of dollars in loans which private banks refuse to make because they make no business sense. The FHA is guaranteeing loans made with a 3.5% down payment, and after the $8000 dollar tax credit this basically puts the government in the no money down 100% home loan financing business.
And then to top it all off we have this cockamamie foreclosure relief program.
Our government has simply created money out of thin air to hand this largess to homeowners. This will be paid for by the poor and folks that rent through inflation. There is no free lunch in this world.
The new health care program will be made much more expensive because of this massive transfer of wealth to homeowners.
The government cannot give to the landed class without taking from the landless class. The government cannot give to the rich without taking from the poor.
Trickle down economics does not work.
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I thought they purged all the Hillary and Nader supporters from the island?
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I thought they purged all the Hillary and Nader supporters from the island?
A new one got through, perhaps . . .
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That mortgage bubble isn't re-inflated YET.
Nicholas Cage couldn't even get a bidder on his foreclosure auctioned mansion. They said the decor was "frathouse bordello". lol.
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That mortgage bubble isn't re-inflated YET.
Nicholas Cage couldn't even get a bidder on his foreclosure auctioned mansion. They said the decor was "frathouse bordello". lol.
And that was at less than 1/3 of the original asking price. The tax assessment on my property just dropped 45K last year. Think that's gonna just magically reappear if I tried to sell the house?