• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

A Nation in Debt

Status
Not open for further replies.
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Montana
A terrific article worth wading into:

A Nation In Debt
How we killed thrift, enthroned loan sharks and undermined American prosperity
barbara dafoe whitehead



Link to A Nation in Debt

America now has a two-tier financial institutional system—one catering to the “investor class”, the other to the “lottery class.”

The investor class, with ample access to institutions that foster wealth-building discipline, is served by a bevy of insurance agents, tax lawyers, stockbrokers, tax accountants, deferred compensation experts and investment bankers. They are likely to work in organizations with 401(k) plans, profit-sharing, Keogh plans, deferred income compensation and retirement savings programs. The lottery class, on the other hand, works in jobs that offer few pro-thrift benefits. As of 2004, seventy million of America’s 153 million wage earners worked for employers without a retirement plan. Rather than being courted by investment firms, they are targets of modern-day, made-to-look-respectable loan sharks. Tens of millions of working Americans who might join the class of savers and investors under more favorable circumstances are being recruited into a burgeoning population of debtors and bettors.

Doug
 

rcsone

Senior Member
Joined
May 26, 2007
Professional Status
Certified Residential Appraiser
State
Oklahoma
.....bring on multitudes which will create more have some and some having less, but think of the votes and grandiose goodness.......maybe we should all work on legislation to enable REO lotteries for the "un" or "il" homed which would solve the excess inventory or financing problem.......and as appraisers, all of these properties would require valuation to establish Fair Market Give Away Value.... with monetary contributions added to all those outstanding, unpaid loan balances of the investors for those recipients whose lottery results is higher than the established FMGAV......it could be called "Reparations For Lotteries" which would be forgiveable after a long period of time estimated at three consecutive paychecks from a private or public entity......with audited weekly or monthly check stubs(due to concerns of fairness and equity) qualifying for proof of intent to "..contribute to the public good..." property taxes would be forgiven "until they got their feet on the ground"....insurance would be prorated to those who are "more fortunate" ....this would begin the process of becoming a law abiding, contributing, home owning citizen..........best to all.........rs
 

Greg Bell

Senior Member
Joined
Jul 7, 2006
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Louisiana
The sad point is all the elites with your money will just shrug when they lose your meager capital in a stock market scheme.Time to but Beans and ammo..
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks