Is It Fair For The U.S. Government To Give Money To Some People (But Not To Others) To Help Them Pay Their Mortgages?

Millions upon millions of Americans are struggling with paying their bloated mortgages right now.  So is it fair for the U.S. government to be giving money to some people (but not to others) to help them pay their mortgages? Well, it turns out that U.S. citizens in 10 states will soon be receiving money as part of a $2.1 billion federal program to help distressed homeowners pay their mortgages.  But is this fair?  Why will only citizens in 10 states by getting funds?  What about the other 40 states?  Well, the money for this mortgage relief program is going to come from a special fund within the Troubled Asset Relief Program (TARP) known as the “Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets”.  In other words, people in the areas where housing prices have fallen the most are going to get help living the American Dream, and everyone else is out of luck. (Read More...)

Generation Y: The Broke Generation

No group in America has been hit harder during the current recession than young adults.  Millions of Americans are graduating from college with virtually no money, lots of debt and with very dim employment prospects.  Those who don’t go to college are even worse off.  All their lives these young Americans were taught if they studied hard, got an education and worked within the system that good jobs and the American Dream would be waiting for them.  But now millions of them are realizing that all of their studying and hard work is not providing them with the rewards that they always thought they would get.  This is causing large numbers of young American adults to become depressed and disillusioned.  In fact, record numbers of them are moving back in with their parents.  But without decent jobs, what are they supposed to do?   (Read More...)

American Deadbeats

Is the current economic crisis creating a generation of American deadbeats?  Once upon a time in America, we were taught that no matter how much financial trouble we get in we pay our debts – no matter what.  But now that has fundamentally changed.  Today, record numbers of Americans are filing for bankruptcy and a new term had to be invented (“strategic defaults”) to describe the large number of people who are making “business decisions” to walk away from underwater mortgages.  Meanwhile, many of these same individuals who are walking away from their debts are spending big money on cruises, vacations and new cars – as if they were still entitled to all of the good things that come with living the American Dream.  Below you will read some incredibly disgusting examples of this.  It is as if a whole generation of Americans has decided that “financial responsibility” is a problem that they don’t care to be bothered with.  But what is it going to do to the U.S. financial system if we can no longer count on people to honor their debts? (Read More...)

10 Clear Signs That This Will Be A Double-Dip Recession In The United States

The U.S. economy has been riding out one of the worst recessions in modern history, but unfortunately every economic signal seems to be indicating that we are going to be experiencing a “double-dip” recession instead of a recovery.  U.S. government debt is out of control, a massive “second wave” of mortgages is scheduled to reset starting this year, banks have significantly tightened credit, pension funds across the U.S. are broke at a time when a ton of Baby Boomers are ready to retire, and a massive financial crisis in the Eurozone threatens to throw the world into financial chaos.  The truth is that 2010 is going to be another very tough year economically, and for many the American Dream is quickly becoming a distant memory.  The following are ten clear signs that this will be a double-dip recession in the United States…. (Read More...)

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