How Strategic Default Could Save Our Economy
Your Strategic Default Has the Same Effect as my idea of "Social Pardon." How Strategic Default Could Save Our Economy
Well, our government won't do it for the main street and try eveything, including TARP, to keep housing price sky high. The result is to infuse a lot "uncertainty" into Market place, to create unneeded restrictions on people's choice or freedom, and to prolong the smooth transfer of home ownership.
(NOTE: What are the uncertainty? For example, a first time home buyer has to stay in the house he or she buys; or the tax credit of $8,000 has to be paid back to our government. Is it realistic to confine people in the same house for 3 years, without damaging their mobility, in this fast moving society?
Please ask the former Secretary of Labor Robert B. Reich or read his book "The Future of Success.")
See, the main street can see the nitch and is curing itself by its own way, without help from the Big Brothers.
So alive our American democracy is!
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