Republican economy coming home to roost (droppings will hit everyone)

[Phoebe Loosinhouse]

Well, the make-believe economy is hitting the fan. Unsustainable real estate prices backed by illusory mortgages are finally and inevitable crashing. Real estate and our make believe equity was the only engine this Republican economy had going for it.

Here is the only thing you will ever have to know about real estate:

When the median income cannot buy the median price of a home, something is wrong. Properties cannot appreciate forever beyond the means of the populace to buy them - I don't care if the interest rate is zero. You still have taxes, insurance, maintenance, etc.

The fallout will be long and hard. Real estate assessments will inevitably have to come down too as prices are readjusted to reflect reality. Cities and towns will have to do some draconian budget cuts. A lot of newbie investors will lose their shirt.

What will also be horrible is that people who have their homes foreclosed will also have a terrible time renting because of their credit history.

Republican economic theory of non-regulation, privatization, off shoring and plundering of assets by the upper tier will leave the US economy a dried up shell of what it once was. Our food supply is tainted, our environment is threatened, our jobs are shaky, our healthcare is non-existent.

I do have a plan to save us. We are a service economy since we not longer manufacture much of anything. National healthcare for all Americans could be a giant economic engine. Skilled jobs, medical jobs, construction of new hospitals, clinics, medical schools,etc. would put America back to work with high paying, desirable, fulfilling jobs.We can buy and consume again because of EARNINGS, not make believe credit based on non-existent future equity.

Wake-up America! The Republicans have sold you down the river for too long. Do NOT buy into any for-profit health care scheme that incorporates the same scoundrels that are currently denying you care and bankrupting you.

In the future, let us all resolve to live within our means, and realize that it's the health and well-being of the inhabitants of a house that count, NOT the granite countertops and stainless steel appliances and the Lexus in the driveway or the other material claptrap so many of us have convinced ourselves is essential, whether we can afford it or not.

[screembloodymurder]

1. It's too late.

"Once you look at the harsh realities underlying the global and domestic economies you realize we are like the people sitting in their cars on that bridge in Minneapolis." Jump!

[LiberalEsto]

2. The vultures are already circling

I heard an radio ad the other day for a special sale on foreclosed homes. The sleazoids can hardly WAIT to cash in on the misery of others, just like back in the Depression.

[SpiralHawk]

3. "Smirk. It's so sweet for you little people to be concerned." - Commander AWOL & republicon cronies

"But all you little people - you citizens you (smirk) - need not worry. You can rest assured that I and my cabal of fatcat republicon Homelander cronies will MAKE OUT LIKE BANDITS while the rest of you are stalking the streets looking for bread crumbs. It's all rigged for our benefit. Smirk, smirk, smirk."

- Commander AWOL & fatcat Republicon Homelander Cronies

[TankLV]

4. Not quite a hundred year later - but we are on track for another Great Depression...

The robber barons are back at it.

The REPUKES have successfully gutted and canceled almost ALL of the progress FDR and the DEMOSRATS made with the New Deal.

From banking deregulation, where banks can become speculators and speculators can become banks, to the dissapearance of any social safety net like pensions and healthcare provided by the employeer...

Privatizing the benefits while making the risks public responsibility.

People are BORROWING on NO DOWN PAYMENT to gamble in stocks that are failing...

We have been on track for a major catastrophy for some time now...

[beastieboy]

5. But the rich will be fine!

[Phoebe Loosinhouse]

6. Those that don't want to particiapte in "socialized medicine"

should be allowed to maintain if they choose to, their own personal, expensive, for-profit plan.