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While our politicians enjoy their Thanksgiving turkey secure in their financial prosperity millions will sit at home in fear of the next day. Yes they who sit on their rumps and eat good while misery is all about yet many place their faith and trust in them, they who in my opinion could really care less. Never was any saying as "trust no man" ever more truthful.
It seems that many are hoping, there is that word that seems to drive everything these days, that some type of bailout for them relating to consumer debt is coming. They think there is a foreclosure plan in the works as well to help those in distress. Now I always seem to be one of the few who burst their bubbles and I am truly not happy doing that or being confrontational. Yet reality says otherwise and why people ignore reality is way past me. Let me get this clear, I wish I were wrong and that I hope as they do "our leaders" will help and that I am wrong. Why, because me and mine are impacted as well. However, and that however, is significant, I have experience and knowledge about what they will do and won't and let me tell you it does not favor those who they classify as "non credit worthy" or "irresponsible". That is the vast majority of average Americans on the brink of ruin.
Sadly, the plan is to help those that have, period. Yes, if your Middle Class stop worrying, someone has to pay and that is you. They will do what they can for you because they need to take it back someplace up the road, fact.
Well lets try to use some common sense or logic concerning this. Lets assume the Federal Reserve underwrites big pools of consumer debt, car loans and credit cards. Now We the People will own that debt, all of us and there is no one to pay that back except, you got it, We the People. Now there will be and outcry most certainly. So I can appreciate hope but if you are like many hope is all you have.
The banks and those holding that bad debt will be totally off the hook. Yes and "credit worthy" to borrow again, how strange, yea right. Hooray, but here is "the rest of the story", do you think those owing that bad debt are, free and clear? You got it, no, only this time up that creek without a paddle. Like I just said, did anyone really think they would get off free like those investors? Did anyone, really? Common now. Yes like their foreclosure plan it is meant to assist those that have, not you "irresponsible types". What does it take to get the message across?
The facts are they who do not get help will now be dealing with the federal government, IRS and everything at their disposal to collect that debt. I am sure along with that "bail out" those provisions for collecting will be enhanced. Many will say good they deserve it and therein lies the crux of profession, mere words.
So be it foreclosure or Consumer Debt the freight has to be paid. Look we can say you mismanaged your money and financial responsibility and in many cases that is correct, but not all. Yes and I think to be fair we can also say the lenders were not exactly saints nor was big business that did away with the jobs and continue, yes continue, even as I write laying off Americans and many of you sit there and approve.They will drive people into bankruptcy but think nothing of bailing out those who cause the problem, facts, yes facts. Yes for their agenda, their New World Order, their Global Dream and out of their mouths not mine. Yes and many approve as their families are destroyed. In my opinion how pitifully sad and pitifully is not even an adequate a word. In my opinion we should be hiring and keeping, but that speaks to their professions of word not deed very distinctly.
We can also say that many who were "credit worthy" in 2007 find themselves not in 2008 and now evidently by Mr. Obama and McCain's definition are "irresponsible". I guess you can say it galls me they speak like that, they who allowed and created this mess to begin with, fact. Pass the buck with a smile and a lecture. Yes and many placed their hopes and trust in them. I just can't fathom that but it is what it is. We can also say usury is usury regardless of how you legalize it but really dos that matter? Common now some actually defend it while professing themselves.
So while they will bail out those investors you will have your credit ruined, you will be hounded by collectors, only perhaps this time armed with government weapons of mass destruction and most likely all you own of value will be taken and sold. Why, because you are irresponsible and deserve it and owe the American people. Yes and those who "have" they will buy your property for pennies on the dollar, they will get the loan, they will get wealthy and get this they BRAG about their deals. Yes they know who they are. They sit and brag about it. Tell me you haven't heard it, I have. "The I stole that house", etc.
So in conclusion I will be the very first to shout hooray if they wipe the slate clean for all. Homes and consumer debt and they stop usury and they help those on the brink. Yet sadly I am confident what I wrote about will transpire without any help for average Americans and those on the brink. Yes and they will stand up, the Pelosi's, Reid's, and the rest and brag about their "accomplishments". and many will say, see, I told you so.
So as for me, I remain hopeful and continue to look up.
UPDATE AMERICA [PS" Update Nov 23], listen to our new presidents New, New Deal. Listen to Roosevelt and you will hear the exact words. How come it took them all over a year to get there?] I am devastated that I, a simple average American of no consequence to them or anyone, can write to these issues quite while back and these, yes these so called leaders, just NOW mind you, are espousing what was before them all the while and they got the nerve mind you, mind you, yes mind you, to sell it to America as Obama's New Deal. MY God, in my opinion MOOOO is no longer sufficient. We have fallen even below that. Why did and do so many have to continue to suffer at what is in my opinion their incompetence?
Robert T. Melaccio Sr. 2008 Copyright ©2008 Robert Melaccio Sr.
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