Friday, April 11, 2008


It makes me sick seeing attempts by congress to bail out greedy speculators, home (over)builders, flippers, and people too dumb to read and understand their mortgage terms before signing. The politicians claim that taking money from me to rescue them is justified because the most important thing is "helping families keep their houses."

But these are the same panderers who claim The American Dream of homeownership is so important that every effort must be made to "ensure housing is affordable."

You can't have it both ways, a**holes.

Either you're for affordable housing, or you're for using taxpayer money to bailout the lenders, gamblers, and dolts that got us into this mess in the first place to ensure house prices stay inflated and home ownership stays out of reach for responsible, hard working people. It's as simple as that.

For all of the debate about bailout plans, everybody loses sight of the big picture: None of it will work. The return to realistic prices is inevitable--the bubble was too big and the smart money is steering clear of real estate as an investment. Although the opposite was true just a few short years ago, now the populace realizes just how unappealing the idea is of being a debt slave for an overpriced, overvalued, rapidly-depreciating asset for the next 30 years.

The government's attempts to fight the inevitable are tantamount to trying to pick up dog shit by the clean end.

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