Money is the root of all that is evil. That plain and simple. The human race in this individuals opinion has gone to heck in a hand-basket because of one simple five letter word. Money is the following article has several meanings. Big business, profits, commissions, economic stimulator, misrepresenting the facts, shady back office deals whatever.
Let's look at this simply and not over think this. Why are most wars started? Money. Yes, you can argue the point that religion, power or differences in government philosophy have been responsible but what it all boils down to is... Money.
Why do most marriages end? Money. Who suffers? Children and families. To compound the problem is that children of families with parents that are divorced or that are having marriage problems are statistically going to get into more trouble both in school and with the law. This then turns them into adults that have issues both mentally and sometimes physically. I could go on and on with this point.
Parents neglect their children because they are working 70 hour work weeks. Why...money. Furthermore, both parents have to work just to make ends meat to pay their bills and even then, sometimes it is not enough. Parents are not home when school gets out and youth are free to roam the streets. Recipe for disaster as high crime and poverty are common place in every area. More police, higher insurance premiums on car insurance and homeowners insurance are all ways to sip into our pockets. Why...money.
Gas prices are through the roof. Why....money. Thousands cannot make their mortgage payments and foreclosures are at a record high. This issue alone could collapse the economy in several different ways sending the nation into a recession. Why?...money. The governments answer is a program called FHA-Secure. the program itself will help a very small percentage and President Bush is calling on lenders to be more proactive in coping with the issue. Yeah right. There is not enough time because this issue was kept in a dark corner as politicians concentrated on who was right and who was wrong in going to war. Then we spent several more weeks deciding if we were going to keep fighting the war or not and when this was all going on, millions of people may become homeless. Seems to me that we could have spent or time a little more wisely, don't you think?
What will happen is that the housing market will crash because very few will have the ability to qualify for a mortgage as banks will now assume all the risk because insurance carriers that backed loans will go out of business. More risk for banks, underwriting criteria will be difficult and people will have worse credit then ever with foreclosures abound. Why did this all start...you guessed it...money.
I could go on and on and what this boils down to is the rich get richer and poor get poorer. When will people realize that the US is indeed a country of separation where the gap between the wealthy and the rest of us. The rich complain that they pay taxes out the nose (Republicans mostly) but you the rich folks created this problem in the first place. Have you ever thought of that. Reaping what you sowed. What are the rest of us supposed to do? Be your servants and go back to the times where the 2% "took care" of the 98%? It was called slavery and the last time I checked that was illegal.
Published by chosen1
Community and Economic Development Expert View profile
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3 Comments
Post a CommentThanks...Now I totally have that Pink Floyd song stuck in my head.
The problem with money as I see it goes all the way back to the Bible (even though I think it was referring to faith rather than money): he who has will be given more, and he who doesn't have it will have it taken away.
Seems to me that MIS-management of money is causing much of the problems you mention. If people would actually learn how the flow of money really works, they would make better choices.
I see these signs for car and house loans: "No credit, no job, no problem!". Yeah, THAT's a wise move by both lender and borrower- NOT!
The current housing crisis is the fault of the borrower for signing a loan they should not have, and an industry that I would guess took full advantage of that. There are exceptions I am sure, but really people are rather ignorant about how to handle their finances.
Eddy ~~~