Current president and congress is out of touch with what is going on in economy. Prosperity is measured by how well are the big corporations are doing and how high the gamblers in Wall Street are betting!
The current economic down turn started one year ago. And got worst in Oct and November with final nail in the coffin happened in December. I remember how the paid for and bought media, kept reporting how well the Wall Mart did on Black Friday. We are retailers and our center was empty!
We are not in 2001 when we came out of Clinton's great era, with money in our pockets and strong feeling toward future.
We are now 5 years in a war that we are loosing, we spent about $1 Tri dollar on it that we won't get back, our surpluses of 2001 has turned to a negative deficit, our $5.5 Tri dollars national deficit is $4.5 Tri dollars more in just 6 years. These elements are stressing out our economy. Oil of $26/B is almost $100/B, milk and bread have more than doubled in one year, and our health insurance is more than doubled in 5 years. Our home values in most cases are bellow our mortgage values.
Whom ever thinks people will take $800 hand out today and spend it where economy needs it most to avoid a depression is smoking Pot!
People will take the money and pay bills and past due high interest rate credit card debt with it, and it won't help the consumer spending, thus economy will fall into depression.
Wait until mortgage guarantee insurance companies go bust, see what happens to the stock market then.
The solution is to regulate banks so that the reduced interest rates offered to banks by Fed is passed to everyone.
We need banks to reduce interest rates on credit cards and there be cap of 10% over prime on credit cards and 3% over prime for other loans, and it should be made getting loans easier. Most people who are loosing their homes and could keep it, if they would get some help, have already lower credit scores. They should be able to refinance to a much lower rate even with bad credit. I am not saying for purchases, I am saying for refinancing of one's home they live in. I know most people don't have the credit to borrow at low rates being offered and or refinance their homes, if we don't do this all these lowering rates for homes is not going to effect the very people who are going to loose their homes and ad to the mess we are in. If these people could refinance, and their credit wasn't an issue, they probably could hold on to their homes and not go broke.
The fundamentals of economy needs help. We own apartment buildings, we had to evict over 62 families in 2007 that were qualified tenants when they first rented with good jobs, only that they couldn't pay their rent payment due to other obligations and high expenses. Why does a nurse or teacher can't pay rent? I say because he or she pays all these high 30% rates on her credit cards. We see how people suffer. I wished we didn't have to evict them, but we have mortgage to pay too, and need to collect our rents to do that.
We can see how people are suffering first hand because we are in retail and real estate. We feel people suffering, our poletitions are all so out of touch with people that is unreal. People need real fix to economy not a short term hand out that we can't pay for it and won't save our economy.
The current economic down turn started one year ago. And got worst in Oct and November with final nail in the coffin happened in December. I remember how the paid for and bought media, kept reporting how well the Wall Mart did on Black Friday. We are retailers and our center was empty!
We are not in 2001 when we came out of Clinton's great era, with money in our pockets and strong feeling toward future.
We are now 5 years in a war that we are loosing, we spent about $1 Tri dollar on it that we won't get back, our surpluses of 2001 has turned to a negative deficit, our $5.5 Tri dollars national deficit is $4.5 Tri dollars more in just 6 years. These elements are stressing out our economy. Oil of $26/B is almost $100/B, milk and bread have more than doubled in one year, and our health insurance is more than doubled in 5 years. Our home values in most cases are bellow our mortgage values.
Whom ever thinks people will take $800 hand out today and spend it where economy needs it most to avoid a depression is smoking Pot!
People will take the money and pay bills and past due high interest rate credit card debt with it, and it won't help the consumer spending, thus economy will fall into depression.
Wait until mortgage guarantee insurance companies go bust, see what happens to the stock market then.
The solution is to regulate banks so that the reduced interest rates offered to banks by Fed is passed to everyone.
We need banks to reduce interest rates on credit cards and there be cap of 10% over prime on credit cards and 3% over prime for other loans, and it should be made getting loans easier. Most people who are loosing their homes and could keep it, if they would get some help, have already lower credit scores. They should be able to refinance to a much lower rate even with bad credit. I am not saying for purchases, I am saying for refinancing of one's home they live in. I know most people don't have the credit to borrow at low rates being offered and or refinance their homes, if we don't do this all these lowering rates for homes is not going to effect the very people who are going to loose their homes and ad to the mess we are in. If these people could refinance, and their credit wasn't an issue, they probably could hold on to their homes and not go broke.
The fundamentals of economy needs help. We own apartment buildings, we had to evict over 62 families in 2007 that were qualified tenants when they first rented with good jobs, only that they couldn't pay their rent payment due to other obligations and high expenses. Why does a nurse or teacher can't pay rent? I say because he or she pays all these high 30% rates on her credit cards. We see how people suffer. I wished we didn't have to evict them, but we have mortgage to pay too, and need to collect our rents to do that.
We can see how people are suffering first hand because we are in retail and real estate. We feel people suffering, our poletitions are all so out of touch with people that is unreal. People need real fix to economy not a short term hand out that we can't pay for it and won't save our economy.
