Nuttier By The Minute

Now the clueless nimrods in Washington want to reduce house payments by $1,000 a month - for FIVE years - for those people who can't afford the house they bought.

That's just plain idiocy. That kind of nonsense will tempt many otherwise responsible homeowners to just walk, leaving their now-upside-down mortgage in the rear view mirror.

Upside-down mortgage? That's where a homeowner now owes MUCH more than their house is worth because the collapse in the housing market has dragged down the value of their home, a loss caused by this federal government and this Congress, and initiated by dear old Bill.

People who should have NEVER qualified to buy any kind of home were given those now-toxic loans that the government(read Bill Clinton) forced the banks to pass out.

Does everybody who wants a home deserve to own a home? Sure... why not? Can everybody afford a home? No. Should the taxpayer be forced to provide them with a home they can't afford? NO.

It's time to cut to the chase here. Nobody talks about it, but it got to be discussed.

Bill Clinton, while president, decided too many blacks - and a few other minorities - did not own homes. He decided that was unacceptable. So, with the power of the presidency to back him up, he devised a plan that literally forced bankers to make loans to any minority that walked in, allowing them to purchase a home that was typically far above the affordability of the average American. The banks were NOT ALLOWED to check creditworthiness, job history, nothing. So, with the might of the federal government to back them up, these people went out and bought half-million dollar mansions, in upscale neighborhoods that you and I can only drive by and look at. Subsidized government housing at it's very best.

The bankers(they're really not that dumb) knew there was not a chance in hell these people would ever be able to keep these homes, but they made the loan because the government forced them to. Penalties for refusal were quite severe.

Bush came along and did nothing to remedy this situation for eight years, and now we see the results of this massive stupidly coming home to roost. Literally millions of otherwise totally unqualified mortgage holders are losing the houses Bill Clinton provided for them, forcing the banks into this government-created disaster.

And now this government wants to give each and every one of these unqualified "homeowners" $1,000 per month so they can stay in their government subsidized housing. By that they actually mean that the government will pay the lending institution - with taxpayer money - $1,000/month/per homeowner... to make up the difference.

Congress knows the real cause behind this is Congress itself. That's why they leaped at the chance to dole out almost a trillion dollars of your money to "save" the banks... and their hides. But the banks gleefully used the money for other purposes, so now Congress wants to give them another trillion or so, but this time with some strings attached. Whoopee.

That's the root of this banking disaster we're watching. But is it the root cause of our economic collapse? NO. It's a side effect. People need good jobs to buy things like houses.

We are going down the tubes is because this federal government - this Congress - gave away millions and millions of our good-paying jobs, along with thousands and thousands of our industries to overseas interests, jobs that cannot be replaced, industries that are gone forever, while allowing twenty some million mostly illiterate illegals to sneak in and gobble up the low-paying jobs that were left.

No government on earth can give away millions and millions of it's citizens jobs, thousands and thousands of its nations industries, allow an army of mostly illiterate peasants from foreign countries to swarm in, and expect that nation to survive. A government can't expect to give billions and billions worth of real property to one group of citizens and expect another to foot the bill. But the mindless fools in Washington seem to think so, and they will bankrupt us all trying to prove it.

The cretins in Congress know all this, that they created and provided the wherewithal for this to happen. That's why they leaped at the opportunity to rescue the banks, to pull them out of the hole that Congress put them in. It hasn't worked, since the banks gleefully did other things with the money. Now Congress has given them vast more amounts of money, but this time with a few "strings" attached. Should we expect different results?

It's the Congress again. They are the cupable party here, and they will fight to last breath... to save themselves.

So it's down the tubes folks... just keep watching the stock market for your daily clues, while that sincere-sounding but clueless lightweight in the White House tries to devise new ways to throw away your money.