They were the people who were doing the important things right -- and who are now watching elected politicians reward those who did the important things wrong.
from the WSJ - titled: The Real Culture War Is Over Capitalism
We were looking into refinancing yesterday because we're in an ARM and I'm nervous about the inflation that's almost sure to arrive when the economy starts recovering and finds itself awash with lots of shiny new dollars. We weren't finding very attractive rates for our particular situation so Gerri called a friend who used to be a mortgage broker. His advice - quit paying your mortgage for three months. Banks will be throwing themselves (and money) at your feet.
We're not going to do that, but that's the environment that the new administration has created. Behavior that is rewarded is repeated. When money is available for people who don't pay their mortgage, then people won't pay their mortgages. Obviously.
We were looking into refinancing yesterday because we're in an ARM and I'm nervous about the inflation that's almost sure to arrive when the economy starts recovering and finds itself awash with lots of shiny new dollars. We weren't finding very attractive rates for our particular situation so Gerri called a friend who used to be a mortgage broker. His advice - quit paying your mortgage for three months. Banks will be throwing themselves (and money) at your feet.
We're not going to do that, but that's the environment that the new administration has created. Behavior that is rewarded is repeated. When money is available for people who don't pay their mortgage, then people won't pay their mortgages. Obviously.
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