What really happened during the Great Recession? The truth is high powered Government Bureaucrats were persuaded through campaign contributions and high dollar pay-offs to turn their head on (simply put) “bad loan policy”. What should enrage every American is both Government and Wall Street knew at the end of this bad loaning policy, it would be left to the American people to bail out the thieves!
Similar to the ongoing epidemic of cancers related to the 9/11 twin tower attack. The result of from the Mortgage Crisis/Great Recession …its impact on the average citizen remains of catastrophic asset devaluation.
Prior to the Great Recession, the generation known as the (Boomers) had built up a significant wealth and were poised to hand this wealth on to the next generation. In fact, had the recession not interfered, the typical Boomer household would be worth about 2.5 times what it is today. Moreover, Boomers carry much more mortgage debt than earlier generations did at this stage in their lives. The question is why do (Boomers) carry 2.5 times more debt?
Because of Wall Street’s reckless policies coupled with our Representative’s turning their heads caused a 40% devaluation of America’s working class assets! For all you younger folks believing more government is the solution, make no mistake the loss of your family’s wealth has significantly impacted and reduced your inheritance.
The political battle raging between ideologies, “Capitalism vs. Socialism” is just another attempt to divide our citizens into the politician’s collective voting base. The facts are this, whether we’re a Socialistic or Capitalistic nation if we do not demand limits on how long our elected representatives can serve…the outcome will consistently produce the same result of a Politician serving (him or her-selves) over the constituents they represent.
America has plenty of social nets and our government receives more than enough money through taxation. Let us not be deceived by forked tongue politicians stating the solution is more government regulation. Let’s come together as a people and take back our house, making sure we do not have a governmental system built to produce career politicians that serve another master!
Jillion R. Rising