 "Presidential" by Youngbloodz
 "Presidential" by Youngbloodz...just look up and read all the lyrics to that song...that was Gwen, Tina, and my cut back in the day...
The previously listed song is about acquiring material goods, having beautiful women on one's arm, and just being a generally cool cat.
Before you say anything, I'm not about to criticize hip hop.
This country is a great example of democracy and capitalism but it is also a great stage on which corruption and greed perform luxurious dialogues.
The current economic collapse is evidence of such a performance.
This morning, the White House approved a $13.4 billion package for the ailing automobile industry.
My father explained to me how the housing crisis erupted and became the catalyst for the tragedy that is the ecomony right now. In very rudimentary terms, it boils down to corruption and greed on the side of these institutions and greed on the part of the participating American residents.
Adjustable rates and interest only plans sound like stupid ideas to me and I am only 21, have a year left of college, and am not almost qualified to purchase a home. But what I understand from buying a home and building equity, interest only is counterproductive. Why pay only the interest on a home and build absolutely no equity? You are basically paying the profit directly to the loaner and building no wealth of your own.
Adjustable rates? That means they can manipulate the rates as they see fit. Of course, to get you to sign, it'll be spectacularly low. The next year, the rate is offensively jacked up and suddenly the Joneses cannot afford their mortgage.
People are left in a tight spot now. They have to pinch pennies all around so no money is circulating in the economy. Businesses suffer as people cannot afford the typical overindulgences of American culture. Bigger is better. More is better.
And people aren't buying cars. Every year my father and I would watch for the new lines of cars and discuss
 aesthetics and functionality, although our family wasn't actually buying a new car. Now, we don't have that conversation. Pocketbooks are so tight that simple discussion of things that cost money seems to incur debt.
aesthetics and functionality, although our family wasn't actually buying a new car. Now, we don't have that conversation. Pocketbooks are so tight that simple discussion of things that cost money seems to incur debt.Two million jobs have been lost this year, over 500,000 of them in the month of November alone. And according to many, things will not look up for a quite some time.
So the car industry has suffered to a degree I never imagined. This is a deep, deep recession. As they say, sh*t is about to get real.
 I am a liberal. The market has to be regulated. These banks inflated the prices of homes and lowered the qualifications to buy a home. Suddenly, everybody qualified to buy a home (and trust me, everybody did not qualify to buy a house). Now, you have people who owe more on their homes than the home is actually worth.
I am a liberal. The market has to be regulated. These banks inflated the prices of homes and lowered the qualifications to buy a home. Suddenly, everybody qualified to buy a home (and trust me, everybody did not qualify to buy a house). Now, you have people who owe more on their homes than the home is actually worth. 









 
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