Friday, July 30, 2010

Don't Forget the Second Part

Having a one time transferable note will facilitate the delivery of assets to people who will service those assets.  Back when I discussed this the first time, I likened it to putting out a camp fire with one of those airplanes that strafe water, but now the campfire has spread and it may be the last resort.  Remember, what follows isn't a system to get rich, it's a plan to restore stability, predictability.  Importantly, writing down unrealized future interest ranks far superior to putting hundreds of thousands of families on the streets and onto the federal government's subsidy programs, their departure from which grows increasingly unlikely the longer they are enrolled.

The greatest shame isn't the idiocy that put this country here in the first place, rather the fact that the People's representatives first moved to protect the system, the elite, the way it's always been, rather than taking the opportunity for extreme measure to raise the country up.  Now we've got "moral hazard" at the corporate office, and somehow, that's better than in the hands of the minority who would not know how to wield it.

Click to enlarge.

Say what you want about financial firms, if this economy is built on consumer spending, consumer shelter and financial indoctrination are truly the cornerstones for our future.  Some rich assholes rolling paper over do not add to the economy, they "grow the economy" through interest on fractional banking.