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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