Monday, February 01, 2010

A Possible Way Out Of Negative Equity

Dean Baker, co-director of the Center for Economic and Policy Research (CEPR), suggests that many homeowners who are burdened by negative equity (owing more on their home than their homes are worth) is to walk away from their mortgages and rent instead.

According to Baker's analyses, not only would homeowners themselves benefit by such a move, but the economy at large would benefit as well.

Unfortunately, the present administration (and any administration that will follow) is much more interested in keeping struggling homeowners in chains to the banks than in helping reverse the economic downward spiral that has middle class and poor Americans in its grips, and will continue its destructive policies for a long time to come.

What the architects and the beneficiaries of the New World Order understand is that they benefit the most by creating a modern slave economy, and they are fully intent on prosecuting any policy that will accelerate this enslavement process.

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