What is it about the members of the media, the House of Representatives, the Senate and the Office of the President that makes them believe that the American public still believes in smoke and morrors?
They continue to claim that "it (the economy) is all about "confidence".
They say that the American consumer needs a "signal" that the future will improve.
One Senator claimed yesterday that the American public doesn't care about "little pork" in the stimulus bill.
We're heard the word "change" ad nauseam for two years.
Congress believes that the public is impressed and comforted when we see them exhibiting "outrage"when questioning the big bank CEOs.
CONFIDENCE? What gives the American citizen confidence is knowing that they will be able to keep their home. The stimulus bill has nothing to make the home owner more confident that they will not be in foreclosure or bankruptcy next year.
SIGNALS? The only signal from the stimulus bill is that Congressional members will tax us about $800,000,000,000 to consolidate their power with pay-offs to political supporters.
"Little pork" means that the pork is spread in small amounts to more recipients.
- $600 million will buy more and newer cars for government bureaucrats.
- $44 million to refurbish the Department of Agriculture,
- $50 million for the National Endowment for the Arts.
- $150 million to spruce up the Smithsonian buildings.
CHANGE? In many ways, this was an honest promise. Not that we were ever advised in any way just what was going to be changed from what to what. However, things will, indeed, change.
Taxes will go up as the bill for the $800,000,000,000 spending package begins to come in.
Spending power will go down as the cost of goods and services continue to increase.
More home owners will be foreclosed as unemployment continues to rise and home owners cannot refinance ARMs, relocate for employment or sell homes an live on retirement income.
Interest rates will go up as the government takes more available funds to finance spending programs including (little pork).
OUTRAGE? Americans are outraged when we see a Congressman complain to Big Bank CEOs about an ATM that ate his debit card when those CEOs cannot describe their use of TARP money.
YES, THINGS WILL CHANGE.
"Honey, was there anything in the stimulus bill to help our family."
"I don't believe so Dear, we'll get $800 but our taxes will go up more."
;)
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There is a lot to be concerned about. I do not necessarily , in a rare moment, agree with all in the post. But basics in our industry is a must. We also need to be aware that we must evolve into community experts, not be real estate sales folks only. Thanks for the thought provoking post