Today is an historic day in American History it is going to be the day that America decides to embrace socialism via its elected leaders or the day that it throws the facade aside and let's the free markets take care of the problem.

This problem is 10 years in the making, and along the way a lot of corrupt politicians and wall street bankers lined their pockets while climbing this one way ladder of financial doom. The whole thing started as a well intended vote buying scheme. Give the people who don't have the money/credit/integrity to buy a house the ability to buy a house and they will vote for us. That is the basic principle that the politicians were acting under.

The first domino is set

There is a reason for people being credit worthy, they over a period of time, have shown the ability to earn money, take and repay loans and improve their lives. People who are not credit worthy have done just the opposite. Instead of getting an education, paying back past debts, building a stable life they went down a road of dereliction. No bank in their right mind would have loaned most of these people money...until our government told them to do so or face investigations.

The Second Domino - and third and fourth and so on....

Now with a lower lending standards, (much lower) builders and banks go campaigns to get people who are traditional renter to buy houses. As I traveled the country I heard ads... Why rent when you can buy...Nothing down... Low interest...owning can be cheaper than renting....  Problem is, there is a reason people are renters. The renter demographic are people who typically are starting off in life or are going no where in life. Neither group is a good credit risk. These fast an easy loans got good people to get into houses they could not afford but it also allowed people who should never been able to buy a house to buy a house. (I use the term buy a house rather liberally.) 

All of this easy money and lower standards leads to increased demand for housing, when you have increased demand for anything the price goes up, up, up. Now we have housed going up 20-30% in a single year. We watched some housed in Charleston SC nearly double in 2 years. This was crazy, anyone in their right mind had know that this could not last and this was what economist call a bubble. People kept buying. During this time we were looking for a new house, but I refused to buy at these inflated prices. None the less I was told daily, don't worry about the price, I am sure I can get you approved for the loan.

So now after being fast a loose from the government, to the banks, to the mortgage officers to the idiot on the street buying way more house than they could afford at an inflated price we have come to near financial disaster.  People are in a panic, we need the government to fix this. I say BULLSHIT - If we bail these fools out, we are created another pile of money for the politicians to use to buy votes, for the idiots on wall street who think they know better than everyone else and the dumb ass who bought a $500,000 house on 60k a year. There is noway this country recovers with a bailout, we are just postponing the reckoning.
Let these dumb asses fail, let the economy crash for a little while.

Hardship builds character, and this country is loosing its character...

This tungsten man thinks that we let this thing burn and we build it again. Live free or die, there is no freedom under socialism.