Economics's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/274777/comments http://seekingalpha.com/article/103206-what-will-get-the-economy-growing-again?source=feed#comment-295001 295001 www.BuyMyHouseBeforeTh...) and cause another need for a cash infusion by taxpayers into the banking system.

This is not a consumer driven recession. Consumers have been stripped of their wealth by special interest driven legislation, wars, unchallenged illegal immigration, cheap foreign labor, offshore manufacturing, and predatory lending practices by financial institutions.

Too much of consumers' money is going to pay interest. Government legislation, the Fed, and the banks have stripped consumers of their wealth. The economy will not recover until consumers do. Lowering the interest rate and throwing money at banks and other corporations is not going to fix the problem. It is only going to make matter worse when the resulting inflation sets in. Banks are going to have to take their lumps along with everyone else. To reduce the severity, banks need to lower interest rates on credit cards, mortgages, personal loans, and lines of credit. Congress also needs to stop fooling around with things that stimulate the economy like tax credits for renewables and they need to stop bringing cheap foreign labor into the country.
]]> Fri, 31 Oct 2008 09:31:41 -0400 www.BuyMyHouseBeforeTh...) and cause another need for a cash infusion by taxpayers into the banking system.

This is not a consumer driven recession. Consumers have been stripped of their wealth by special interest driven legislation, wars, unchallenged illegal immigration, cheap foreign labor, offshore manufacturing, and predatory lending practices by financial institutions.

Too much of consumers' money is going to pay interest. Government legislation, the Fed, and the banks have stripped consumers of their wealth. The economy will not recover until consumers do. Lowering the interest rate and throwing money at banks and other corporations is not going to fix the problem. It is only going to make matter worse when the resulting inflation sets in. Banks are going to have to take their lumps along with everyone else. To reduce the severity, banks need to lower interest rates on credit cards, mortgages, personal loans, and lines of credit. Congress also needs to stop fooling around with things that stimulate the economy like tax credits for renewables and they need to stop bringing cheap foreign labor into the country.
]]> http://seekingalpha.com/article/101502-political-theater-the-congressional-credit-hearings?source=feed#comment-289075 289075 www.BuyMyHouseBeforeTh...!]]> Thu, 23 Oct 2008 16:37:48 -0400 www.BuyMyHouseBeforeTh...!]]> http://seekingalpha.com/article/99042-what-is-the-fed-waiting-for?source=feed#comment-276759 276759 www.buymyhousebeforeth... , once you do, it will ease up their disposable income and allow them to spend again.]]> Wed, 08 Oct 2008 10:17:43 -0400 www.buymyhousebeforeth... , once you do, it will ease up their disposable income and allow them to spend again.]]> http://seekingalpha.com/article/98855-boa-cuts-off-countrywide-arms-to-save-body-of-mortgages?source=feed#comment-275868 275868 www.buymyhousebeforeth... and there is no relief for them.]]> Tue, 07 Oct 2008 12:25:15 -0400 www.buymyhousebeforeth... and there is no relief for them.]]> http://seekingalpha.com/article/98562-batten-down-the-hatches-economic-forecast?source=feed#comment-274163 274163
Now the US government buying up bad debt at full absorbing all of the loss that has been generated by fiscally irresponsible banks. There won’t be a decrease of value because these homes are being banked and not adding to inventory at a discounted price. Hopefully, the government turns them into rentals to generate income.

Housing will remain unaffordable. First time home buyers won’t be able to purchase homes and the cycle won’t start over again. If you want growth in the market, there will be a need for “long term “affordable loans. “Short term affordable loans” are what got us in to this mess in the first place.

If we continue to loose jobs, outsource jobs and import, the cost of housing will continue to rise only to damage the market further. The money supply will remain tight, there will be no more spending, bankruptcy will increase, business will fail and people will be forced to sell their homes on sites like this www.BuyMyHouseBeforeTh... only making a case for a better economic rescue plan.
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Now the US government buying up bad debt at full absorbing all of the loss that has been generated by fiscally irresponsible banks. There won’t be a decrease of value because these homes are being banked and not adding to inventory at a discounted price. Hopefully, the government turns them into rentals to generate income.

Housing will remain unaffordable. First time home buyers won’t be able to purchase homes and the cycle won’t start over again. If you want growth in the market, there will be a need for “long term “affordable loans. “Short term affordable loans” are what got us in to this mess in the first place.

If we continue to loose jobs, outsource jobs and import, the cost of housing will continue to rise only to damage the market further. The money supply will remain tight, there will be no more spending, bankruptcy will increase, business will fail and people will be forced to sell their homes on sites like this www.BuyMyHouseBeforeTh... only making a case for a better economic rescue plan.
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