“A Pale Green Mermaid Blog”
In the 1930’s and 40’s during the ‘great” depression as opposed to the “lousy “depression we are in now (I decided to name it since most people still refer to it as still a recession: WAKE UP, IT IS A DEPRESSION) there was an area of the country they called the dust bowl because the land had dried up and the ensuing winds and dust drove farming families out from their homes, it was partly caused by bad government policies and land speculators..Sound familiar.
It appears to me that the same thing is happening now but it is the swirl of foreclosures not dust driving the population out on to the street.
About a year ago houses in my neighborhood started dropping like flies, for sale signs popping up all over the place and now – the jobs are disappearing, in a downward spiral.
This isn’t a bunch of greedy people borrowing money they can’t pay back , they were sold
refinancing packages similar to predatory lending practices that the credit card companies are allowed to use, except this time you lose your house if you miss a payment.
One in 10 homeowners are not given the opportunity to refinance their mortgage loan if they get into trouble.
1 in 6 houses across the country are in some state of foreclosure.
The economic engine of this country ( the bottom 2/3 of the population) is being starved by the fat cat policies of the Bush administration (which are still in place) who gave a big fat cat check of 350 billion not million, BILLION to the investment banks and they in turn were suppose to start lending to us, the skinny cats.
They did not.
If that 350 BILLION, not million had been given to the skinny cats it would already be circulating in the economy because we , the skinny cats, have to spend it to survive.
So a possible solution…
(Skinny cat, bubble up economic policies need to be the chant of the day.)
1. Put in place a moratorium on all foreclosures for 6-12 months. (In that time refinance all the mortgages that can be refinanced, at a lower affordable rate . The problem the big banks are having is with the so called “toxic” loans, if the loans are no longer ” toxic ” and are paying a return, albeit a lower rate , the need to prop up the banks should lessen)
2. Put Some TARP money into the small banks so they can lend immediately. ( they are lending even now because they were not involved in the mortgage bundling schemes that the larger banks made money off of.)
3. Rescind the Bush tax cuts for the top 2 percent and give those tax cuts to the bottom 2/3 of the economy. (IE. the economic engine – the skinny cats! we know how to spend it and invest it)
We need to do this now , not in a month, now…
So skinny cats unite, let us raise our voices up to the big whigs in the congress and tell them the time to move was YESTERDAY – at least we have Obama on our team now…
so call congress and create some skinny cat peace of mind!
TEAM SKINNY CAT… GO!!! Obama, Obama, Obama Obaaaaaama!