Just a Hooverville ... nothing to see here.
Sad in America. People: looking to govt is the wrong thing to do, in fact govt is always and everywhere the primary source of man's problems. It creates nothing while feeding off producers and usually seeks to help it's banking cronies and wallstreet first, w/mere crumbs to the people as it impoverishes them with taxes & inflation elites game and escape. Inflation is precisely the printing of more money from nothing that purchases ever less. Prices do NOT rise - dollars just buy less, period.
Understanding our corrupt private for profit "legal" counterfeiting banking system that but for some appointees, is NO govt agnecy at all. The Federal Reserve's shareholders are the largest private foreign and deomestic banks in the world. And we get to pay them $2.20 p&i for every dollar created from nothing, that makes itself and all other dollars worth less. It is the fiat money financier of choice for history's tyrannts, like Imperial Rome, 1920's Germany and the recommended method of communists to steal the peoples wealth.
$1000+ gold is the tip-off, but and ounce of it still buys amount of oil or other goods it did decades and centuries ago, and the fiat debased dollar does not and will never.
Yes, people who could not afford these loans should not have been approved at teaser rates. Their's and their banks poor judgement, if bailout at other taxpayer expense is the reward of behaviour that should have the bad consequences it deserves or we perpuate that which should be avoided.
Commenting by HaloScan
