Venting Frustration Over the Economic Climate
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I've been saving my money to buy a home. I couldn't afford the inflated home prices of the past several years, but I figured that this real estate bubble would eventually burst and that prices would come back down. Now, I'm expected to bail out my neighbors who bought houses they could not afford, either by contributing my tax dollars to help them pay their mortgages or by artificially propping up their home prices so that they won't lose as-yet-unpaid-for equity should they ever decide to sell their homes.
And whom are they expecting to eventually buy their homes at those artificially inflated prices? Me. Sorry, but I couldn't afford them then, and I doubt I'll have enough left to afford them in the future.
The real estate Ponzi scheme continues -- unabated, unregulated and, without question, unconscionable.
MARK TUNE
Alexandria
ยท
Anthony Faiola ["The End of American Capitalism?" front page, Oct. 10] claimed in his analysis that credit was the "the lifeblood of capitalism." If that were true, it'd be called creditism, not capitalism.
The lifeblood of capitalism is capital. But we don't have capital in this country, and we certainly don't have capitalism. What we have is a backwards debt-based monetary system that has done nothing but expand and collapse the economy over and over again since the Federal Reserve Act was forced on our ancestors.
