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I agree, m4l. You would think there would be plenty of work to do rebuilding our infrastructure and a lot of people without jobs willing to do it. It’s a much better investment in the long run (keeping people employed) than attempting to save homes that will be lost anyway.
so glad NBC did a show about the hardships folks were facing in Ohio (it’s an extreme example but it highlights the point). owning a home is far far far from their minds – having a job is super clear cut #1 priority as that puts food, roof, etc over heads. I’m sorry but F protecting folks with their homes. Now should be 100% about job creation. I’m sure the dude who is about to have his home foreclosed due to job loss would prefer to have a job than some measures to keep him in his home for a little while
Mr. Geithner… who has never held a position in private
industry and who also is, we believe, the first Treasury
Sec’y in history not ever to have worked in the private
sector… believes that
“with tax increases and no
spending cuts the most likely thing is you’ll see an economy that gradually strengthens over the next year
or two… [with] job growth start[ing] to
come back; investments expanding…but we’ve still
a long way to go.”
DIBS, it is astonishing how little we’ve learned from the economic pain of the last few years. I heard Geitner on a tv program saying that he wants to make easy credit available for home buyers!?! WTF?
I agree, m4l. You would think there would be plenty of work to do rebuilding our infrastructure and a lot of people without jobs willing to do it. It’s a much better investment in the long run (keeping people employed) than attempting to save homes that will be lost anyway.
m4l, you’re right. Home ownership is ameasure of wealth, a balance sheet item.
What the stock market wants to see is a measure of change, indicating growth in the economy. That change would be rising incomes and job creation.
But to effect that change, businesses have to feel more confident and with this administration, they have no idea what’s coming out of left field!!!
Uncertainty is the market’s biggest fear. It’s also why interest rates are at record low levels.
Thanks DIBS. Looks like my post isn’t up yet (re-write?)
so glad NBC did a show about the hardships folks were facing in Ohio (it’s an extreme example but it highlights the point). owning a home is far far far from their minds – having a job is super clear cut #1 priority as that puts food, roof, etc over heads. I’m sorry but F protecting folks with their homes. Now should be 100% about job creation. I’m sure the dude who is about to have his home foreclosed due to job loss would prefer to have a job than some measures to keep him in his home for a little while
I think easy credit should be available for anyone with 20% down and sufficient income. Everyone else, not so much.
DCB, …
Mr. Geithner… who has never held a position in private
industry and who also is, we believe, the first Treasury
Sec’y in history not ever to have worked in the private
sector… believes that
“with tax increases and no
spending cuts the most likely thing is you’ll see an economy that gradually strengthens over the next year
or two… [with] job growth start[ing] to
come back; investments expanding…but we’ve still
a long way to go.”
DIBS, it is astonishing how little we’ve learned from the economic pain of the last few years. I heard Geitner on a tv program saying that he wants to make easy credit available for home buyers!?! WTF?
Biff, I’ll have a look and see if i can shed some light on the problem.
Arkady,
partial welcome back. give you the full one when you’re back correcting out spelling, grammar, diffuse fights,….