Elderly Problems: Fixing the Economic Crisis
By Joseph J. Kusnell
Boomeryearbook.com: Elderly Problems
Can you tell me how you can fix it so that people, who could not afford the homes they bought when they bought them, can afford them now? I’d like to know that.
These people are not suddenly going to acquire skills they never had to make them more able to get jobs that would permit them to buy the homes they just bought.
They couldn’t afford them when they bought them and that’s’ why Fannie Mae created the no-doc loans. Because they had no down payment, no work history and no credit. So we just ignored all those things and gave them the loans anyway. Now we are going to put them into a position to afford them? how?
The most recent idea is great. Reduce the principal of the mortgage. Then reduce the interest rate. Then extend the terms. Well isn’t that the same as giving the houses away. And if they don’t have jobs what difference does it make? They still can’t pay their mortgage no matter what it is. No, the plan has huge holes. But I can tell you what to do about it. And it’s not that complicated.
1. Reduce interest rates to 4.2% for new homes or refinanced homes. That will let return money to the homeowner which he can use for his mortgage or to stimulate the economy.
2. Make longer terms available for whomever wants them. Up to 40 years.
3. Rise the unemployment compensation by 25%. Find the money wherever you found the trillions you just spent. This is critical because people on unemployment can’t find jobs and if they can depend on this money, they will rebuild confidence in the economy while you try to fix the problem.
4. The key. Guarantee unemployment as long as the unemployed rate is over 5.0%. It will cost you 130 billion a year but it will stabilize the economy, allow families to function until they can find work, and will restore confidence in those who are suffering. When the unemployment rates comes down to 5.25%, letters go out warning the unemployed time is running out and they need to go find jobs. When it hits 5.0%, give them a 60 day warning and then stop the payments.
These steps while expensive are not as expensive as what you are doing and this will save the country. You see the key is you have to help those who cannot help themselves.
People in the working classes cannot work until you give them jobs. My plan will guarantee their existence until they can do so themselves. And I believe it will generate the kind of confidence and security that will help to actually turn things around. On their unemployment along with the redoing of mortgages, I think lies the answer to the real estate crisis.
Four points to my plan. And I think they will do the job.
Joey
www.boomeryearbook.com is a free social networking site connecting the baby boomer generation. Whether you are a member of the baby boomers generation or are related to someone who is, Boomer Yearbook will provide you with free psychological articles on a vast variety of topics such as dream analysis, coaching and self-help, elderly problems, examinations and proposed solutions for types of discrimination along with weekly updates on mental and medical health. Share your thoughts, upload pictures and find old friends, or use our online optical illusions and brain games, provided by clinical psychologist Dr. Karen Turner, to expand your mind and help ward off the possibility of depression, dementia and Alzheimer’s. Join now to discover the numerous ways in which this online social networking site for the baby boomers generation and boomers of all ages can contribute to optimal physical and emotional wellness. The baby boomers generation changed the world. We’re not done yet!
Tags: baby boomer generation, Elderly Problems, marketing to baby boomers, Online Optical Illusions, Psychological Articles, types of discrimination
This entry was posted
on Monday, February 16th, 2009 at 1:12 am and is filed under Elderly Problems, Joey's Comments and Controversy.
You can follow any responses to this entry through the RSS 2.0 feed.
You can skip to the end and leave a response. Pinging is currently not allowed.
HERE’S HOW TO FIX THE FINANCIAL CRISIS
Elderly Problems: Fixing the Economic Crisis
By Joseph J. Kusnell
Boomeryearbook.com: Elderly Problems
Can you tell me how you can fix it so that people, who could not afford the homes they bought when they bought them, can afford them now? I’d like to know that.
These people are not suddenly going to acquire skills they never had to make them more able to get jobs that would permit them to buy the homes they just bought.
They couldn’t afford them when they bought them and that’s’ why Fannie Mae created the no-doc loans. Because they had no down payment, no work history and no credit. So we just ignored all those things and gave them the loans anyway. Now we are going to put them into a position to afford them? how?
The most recent idea is great. Reduce the principal of the mortgage. Then reduce the interest rate. Then extend the terms. Well isn’t that the same as giving the houses away. And if they don’t have jobs what difference does it make? They still can’t pay their mortgage no matter what it is. No, the plan has huge holes. But I can tell you what to do about it. And it’s not that complicated.
1. Reduce interest rates to 4.2% for new homes or refinanced homes. That will let return money to the homeowner which he can use for his mortgage or to stimulate the economy.
2. Make longer terms available for whomever wants them. Up to 40 years.
3. Rise the unemployment compensation by 25%. Find the money wherever you found the trillions you just spent. This is critical because people on unemployment can’t find jobs and if they can depend on this money, they will rebuild confidence in the economy while you try to fix the problem.
4. The key. Guarantee unemployment as long as the unemployed rate is over 5.0%. It will cost you 130 billion a year but it will stabilize the economy, allow families to function until they can find work, and will restore confidence in those who are suffering. When the unemployment rates comes down to 5.25%, letters go out warning the unemployed time is running out and they need to go find jobs. When it hits 5.0%, give them a 60 day warning and then stop the payments.
These steps while expensive are not as expensive as what you are doing and this will save the country. You see the key is you have to help those who cannot help themselves.
People in the working classes cannot work until you give them jobs. My plan will guarantee their existence until they can do so themselves. And I believe it will generate the kind of confidence and security that will help to actually turn things around. On their unemployment along with the redoing of mortgages, I think lies the answer to the real estate crisis.
Four points to my plan. And I think they will do the job.
Joey
www.boomeryearbook.com is a free social networking site connecting the baby boomer generation. Whether you are a member of the baby boomers generation or are related to someone who is, Boomer Yearbook will provide you with free psychological articles on a vast variety of topics such as dream analysis, coaching and self-help, elderly problems, examinations and proposed solutions for types of discrimination along with weekly updates on mental and medical health. Share your thoughts, upload pictures and find old friends, or use our online optical illusions and brain games, provided by clinical psychologist Dr. Karen Turner, to expand your mind and help ward off the possibility of depression, dementia and Alzheimer’s. Join now to discover the numerous ways in which this online social networking site for the baby boomers generation and boomers of all ages can contribute to optimal physical and emotional wellness. The baby boomers generation changed the world. We’re not done yet!
Tags: baby boomer generation, Elderly Problems, marketing to baby boomers, Online Optical Illusions, Psychological Articles, types of discrimination
This entry was posted on Monday, February 16th, 2009 at 1:12 am and is filed under Elderly Problems, Joey's Comments and Controversy. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.