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The mortgage crisis was the earthquake. Here comes the aftershock!

February 10, 2010

Congress is leading us into a financial Armageddon in 2012. The 2 trillion $$$ bailout was suppose to create jobs to pay for normal mortgages. Instead, it went up in smoke rooms of ‘fat cats.’ Here is what is going to happen: The huge deficit will create inflation, interest rates will go up, home owners with ARM won’t be able to pay the increased mortgage payments, more subprime disasters will happen, AND THIS TIME THERE IS NO MORE BAILOUT MONEY UNLESS YOU PRINT IT. Here is what Congress needs to do NOW: Freeze all hirings by government for 5 years, force bankers to return the peoples’ money, let failing industries fail, cap the interest rate for mortgages for 5 years, retroactively divert all the bailout money, starting the what Bush did, only to create jobs and refinance the subprime mortgages on a massive scale. None of these will probably occur because Congress is ineffective. So, brace yourself for a financial Armageddon, added to all the other Armageddons predicted for 2012. The consolation price: We won’t stay dummy forever, we shall overcome! 🙂

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