First of all, it finally happened. The CNBC (aka crapvision) just gave a side-by-side pictures of monkeyboy and similarly shaped monkeys. Finally they are on the track to admit the obvious. The next step will be to admit that this is not a correction, but a bear market.
So, monkeyboy will give his stimulus package in few minutes. I don’t know what they’ll come with and hopefully it’s useful, but I’ll give what I think must be done.
The government doesn’t have any money. It is running a large deficit and only it’s final power to inflate its debt out saves it from bankruptcy. But it has millions of followers. By some reason it has a lot of followers. Millions of people and thousands of corporations decided that they can run large deficits and then this debt will be magically inflated out. I think monkeys must not copy elephants.
The biggest and baddest problem is the fast ongoing destruction of the middle class. Many (if not most) people just don’t have enough skills to properly manage their finances and now they sit on the dip hole. There is nothing that can solve the problem, but at least we must do something, whatever is possible.
My package of immediate things to do is:
- Mortgage lenders have no right to claim any property except the house itself, even if the contract allows that
- After foreclosure, mortgage lenders may not evict former owners until the adequate rental is found. If the family is unable to find the rental home mortgage lender must ask the local authorities to provide the comparable rental and pay the expenses
- Massive investigation of mortgage fraud must be done. Any lender under investigation may not foreclose even a single house
- Redistribute taxes from those who own over $100k to those under $50k, but keep the overall tax rate the same