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It is time to take a good look at where we are at this
time. In the first quarter of this year more than 158,000
families lost their homes to foreclosure. The American public
is going deeper in debt every day. In a society where 70% of
the economy is driven by consumer spending, inflation and debt are economy
killers. Millions of people have homes that are worth less
than the mortgage amount on their home. When they look at the
economics of the situation will they pay the inflated mortgage payments or walk
away from the house? Family homes were the main source of
their wealth and now with that gone they have no place to go for that extra
money they need to pay the ever-increasing cost of living.
Duke Power said that they are cutting off utilities to 50 people a day
because of unpaid utility bills. Whether the government wants
to admit it or not we are in a recession. We are also in an
inflationary spiral that won?t quit. The government is
pumping liquidity into the system at an alarming rate to save the financial
institutions that created a large portion of the problem.
The balance of the article is on the web site if
you are interested.
Just one man's
opinion.
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