I appreciate all of your insights on the market, but also the postings showing the political aspects of our government actions, as they impact the market movement every day.
Your post about leaving the country resonated with me, but after considering all the options, perhaps we have reached a point where it is time for the average citizen to stand up and fight for their country. Revolt against these corrupt deeds and put the country on the path to economic prosperity and morality.
I feel like I would rather fight for the survival of the country I was born in, than walk away. Maybe I am too much of a optimist, but I feel like our country only needs leaders who know right from wrong to solve most of these problems. Good common sense will give a elected representative a path to follow when making policy.
The path provided by morality and common sense is one which the majority of citizens will support and follow.
The mortgage principal write downs and reworked lower payments is basic charity.
Beyond all the moral hazard and ethics of reworking contracts to use taxpayer funds as a subsidy, I question what has happened to the country's priorities?
If our government felt the need to spend trillions of dollars, why have banks, AIG, and now homeowners been given priority over meaningful charities?
How much good for society would have come from spending trillions on cancer research? How many of us have a mother, sister, wife or daughter suffering with breast cancer?
Maybe if we spent trillions on R&D, a cure might be found quicker.
How much "good" could be done for handicapped children? How many new wheelchairs could be purchased? How could the quality of life be improved for anyone with a terminal disease?
Put the trillions of taxpayer funds into looking for a cure for MS. A cure for Parkinson's. A cure for spinal paralysis.
All these listed, and many more "good causes", are far more deserving of taxpayer funding than any banks or homeowners who refuse to pay their bills.
This is no longer a issue of moral hazard, the government as representative of the entire country and its citizens, has lost its basic moral compass.
Our elected officials should all go visit a children's hospital for terminally ill kids, walk from room to room and explain why taxpayer money is being used for mortgage principal reductions instead of finding a cure for their illness.
This much government spending would provide people with hope and after spending trillions of dollars on research, I believe that scientific breakthroughs and cures for terminal illness would be discovered.
In pure monetary terms, the cure for cancer would provide far reaching benefits for the entire span of humanity compared to mortgage write downs today.
I thought that taxpayer money was to be used for the good of all the citizens. The Obama plan for mortgage charity is so far removed from any basis of benefit for deserving causes, it does not represent the needs and wishes of the people paying for it, the American Taxpayer.