New Road to Serfdom


	New Road to Serfdom

baydawg

6-28-2009 9:23 PM

161 views

tags:

housing bubble, investing, debt, housing

baydawg says:

the housing bubble and debt serfdom

1 Comment |

Add a Comment

6-29-2009 3:27 PM

tweezer

the finance companies that hike the interest to gains of no principle as jobs pay only enough to keep current ,.My best friends split up after loosing there home and several re mortgages to try to save it boo hoo really did cry yeah rent to own three months escrow 1200 and assume payment may become a popular tool in sellling as the realator renters ownership always has better results s o i hear pardon my typing severed tendon sat one time job related ..

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/3323f678-ed21-4299-9b8a-b707c7aeb2de/8A5E639A-BC06-4265-AD8A-EA5C7FBD60E7/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.itulip.com/forums/showthread.php?t=966" href="http://www.itulip.com/forums/showthread.php?t=966" style="font-size: 11px;">www.itulip.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.itulip.com/forums/showthread.php?t=966"><DIV><FONT size="3"><B><TABLE border="0" align="left" valign="top"><TBODY><TR></TR></TBODY></TABLE>The New Road to Serfdom</B></FONT></DIV>
<B><DIV>An illustrated guide to the coming real estate collapse</DIV>
By Michael Hudson</B></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.itulip.com/forums/showthread.php?t=966">Originally published May 2006</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.itulip.com/forums/showthread.php?t=966">Never before have so many Americans gone so deeply into debt so willingly. Housing prices have swollen to the point that we've taken to calling a mortgage–by far the largest debt most of us will ever incur–an "investment." </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.itulip.com/forums/showthread.php?t=966">In the odd logic of the real estate bubble, debt has come to equal wealth.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.itulip.com/forums/showthread.php?t=966">debt throughout most of history has been little more than a slight variation on slavery.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.itulip.com/forums/showthread.php?t=966">The reality is that, although home ownership may be a wise choice for many people, this particular real estate bubble has been carefully engineered to lure home buyers into circumstances detrimental to their own best interests. The bait is easy money. The trap is a modern equivalent to peonage, a lifetime spent working to pay off debt on an asset of rapidly dwindling value.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/8A5E639A-BC06-4265-AD8A-EA5C7FBD60E7/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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