I am watching our president pander to some crowd in who knows where. He rips the 1% as usual and then says he wants to get back to an America where if you work hard you can be successful. But not too successful apparently. Work hard, until you get to the middle class and then you might as well coast because the administration wants to crush you. Some call that Socialism. Obama calls that "Hope" or "Change". He wants home borrowers the chance to refi and wants to cut red tape to make it happen. So you want banks to be responsible but you also want them to lend to folks who can't pay that loan back? Because the process should be fair and clear of course. Oh, it was not clear you could not afford that 20K square foot home for $1MM when you only earned $30K a year? Huh. So let's sort out college loans. Yup, we will cap those payback amounts to 10% of your future salary so if you want to take on huge debt for years of unnecessary schooling and then become a preschool teacher you can just wipe out those debts. Because that money just disappears right? It is not like somebody had to loan you that money and is now screwed by you not paying them back right? Or the schools, they don't need that revenue you promised them right? All of the resources they provided you as a student were free I am sure. Healthcare? Why not just provide universal free services. F*** it.
What Obama does not seem to understand is that all of the loans he wants to forgive were based on someone who was willing to work hard and then loan someone else their hard earned money. That social contract is now worthless. Would you loan your co-worker $10 for lunch if you knew Obama was going to make it so that person would not pay you back? Only if you were a fool. Do you think when you push debt forgiveness banks or private companies will ever loan money again? Hell no! You will get jammed in a 2 year queue and never get that home loan.
He just said in America you are not guaranteed success. F*** you!!! When you guarantee nobody has to ever pay a loan back and can just get free shit you basically are making that promise. Why work hard if you never have to pay your debts?!?!?!
This is America and you are not entitled to a house. Or a free college education. Or access to the best doctors or lawyers, or bankers. You have to work hard for good things and make smart choices. And yeah, you need a little luck. So maybe you have to rent an apartment, or go to community college. Maybe you have to eat burger as opposed to steak. I want to help my neighbors but I don't want to blindly throw good money at bad and that is exactly what the President is trying to do. It may be easier to give money away when you are rich. I don't know.
We need more economic stimulus, there is not enough artificial money out there. Somebody call Ben Bernanke.
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