You may be wondering what was wrong with me when I typed the title to this blog, but I assure you that nothing new is wrong with me that hasn't always been wrong with me. It's simply some lyrics out of a RATM (Rage Against The Machine) song. And those words that aren't found in Webster's were my air guitar version of Tom Morello's amazing guitar manipulations. I say manipulations because Tom Morello doesn't play guitar, he manipulates one.
Anyway, air guitar and explanations aside, I wanted to say something in light of what is going on in Washington. I also would like to admit some incorrect thinking and make good on what I've previously talked about in the last blog (Bailout Bombed). I made it pretty clear that the financial institutions are the ones to blame for this need of a financial bailout. I pointed out that "their mistakes" of irresponsible lending are now costing us money if our government decides to give them our money. Now I sort of think that I was wrong. Sort of. Rather than go into my own words, I will simply insert a paragraph that I read on FederalBudget.com. Here it is.
It seems there were many forces and organizations pressuring the financial institutions to make housing loans to folks who clearly would not qualify for them. Goes back to the turn of the century. The ruse was "affordable" housing, and the slogan was "everyone has a right to own a home". (Not according to the Constitution). It was a well thought out project. It was calculated that a bailout would be needed. Congressional members supported it. A few resisted, even those resistors knew what would happen. The pressure was heavy and many-fronted. The financial institutions must lend to unqualified borrowers. Ultimately, the scheme would lead to having the citizens buy houses for the low income earners that couldn't qualify. This is clear socialism. More than that, it was calculated, premeditated, theft. It is against the U. S. Constitution for the U. S. Federal Government to do this.
The author of this paragraph is Gene Simmons. No, he's not the guy from Kiss who sticks out his tongue, but the founder of the National Debt Awareness Campaign (NDAC) who willfully bares the burden of informing individuals like me and you the truth behind the government's decisions that affect the economy and also unfortunately bares the burden of having the same name as an infamous goober. You all should make some time to read through this highly informative website that isn't flashy by design but is clearly devoted to teaching the American public the problems with our economic system. However, unlike so many other sites I have found, this one also offers solutions beyond a mere suggestion as to who to vote for. So you are aware, the NDAC does not support or endorse any political party.
I wonder now if Jodi and I didn't benefit from this pressure on the financial institutions in some way. We got approved for our home loan in January of last year after a long road of fixing our (when I say "our" I mean "my") bad credit and building up good credit. I wonder if we would have qualified under normal circumstances. However, I would hardly put us into a category alongside all these people who are foreclosing on their homes. Most of these cases are with people who couldn't afford the home that they were buying in the first place. Some people just shouldn't be able to buy a home if they don't have the income to warrant it. We had the income and the career longevity and job security and the low debt-to-income ratio. We just had a poor credit score since we had a severe lack of credit hits. I always thought that it was good to buy things outright in cash and that it was responsible to turn down credit card offers. However, it turns out that if you ever do want to borrow money, you'll need to show a history of doing just that. Which makes sense, but then the problem of getting that first lender to lend you money arises.
I've strayed here a bit, but I wanted to let it be known that the NDAC has done a lot more research than I have concerning the subject of today's financial crisis. Therefore, I'm inclined to believe now that maybe our government has planned all along to take this money from us and to give it to the financial institutions so that it allows the financial institutions to keep funneling money everywhere. And why not? Every time that money changes hands in the US, the government takes a piece. And when no one is buying and no one is selling, the government feels it necessary that they intervene to get things moving again so that they can go back to collecting. I'll end this with two more quotes.
For society as a whole, nothing comes as a 'right' to which we are 'entitled'. Even bare substance has to be produced.... The only way anyone can have a right to something that has to be produced is to force someone else to produce it... The more things are provided as rights, the less the recipients have to work and the more the providers have to carry the load. -Thomas Sowell (quoted in Forbes and Reader's Digest
A politician cannot spend one dime on any spending project without first taking that dime from the person who earned it. So, when a politician votes for a spending bill he is saying that he believes the government should spend that particular dollar rather than the individual who worked for it. -Neil Boortz
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