"Homes for the Homeless"

"Homes for the Homeless"

Saturday, September 18, 2010

Interesting predictions by "Peter Schiff" 2006 - 2007

It's interesting to watch this video : Peter was right.


Sunday, September 05, 2010

I'm not advocating the total elimination of credit. People used to use "lay-a-way" to buy and bought houses they could afford, lived within their means and we had a very healthy economy in the 50's, 60's and maybe even the 70's. Credit was gradually getting out of control in the late 60's. i was offered a credit card in college!!!! So it took awhile, however, the "advantage' of credit in our society has finally caused the bubble to burst and no one can afford to help the economy as they are all in debt to their Credit Cards .... even the employed are too busy paying of debts in a panic to buy anything and the Middle Class has borne the brunt of all of the "easy" credit in housing, consumer credit, insurance, etc., etc., etc. etc., etc.

There could be a good balance between capitalism and socialism. Neither system works and too many people have suffered and are suffering as a result of this.

The Problem with Credit

Cash only was a better system. Prices have risen too high as a result of credit, creating a society that lives beyond its means and requires living constantly in debt for necessities such as housing, insurance and medical. If people use credit then prices rise too high (don't have the cash, just charge it). If it was a cash only society the prices would match the salaries of the majority in order to sustain a healthy economy. For a very long time the rich have been the only real consumers who could afford what they buy. For the past 30 years everything has been "unaffordable" for the Middle Class, thus credit has been abused and "what the market will bear" has been out of proportion to the reality of what is. No credit would also eliminate Greed.