A wonderful, insightful, hilarious rant against bailing out housing

"There is talk about "bailouts" of various sorts for the housing industry.

I am calling upon you to actively resist them. Yes, I'm serious. You. Mr. and Ms. Ticker Reader. I want you to get involved and help stop this stupidity.

I mean picking up the phone and calling your Congresscritters.

You can go to [link to www.senate.gov] and [link to www.house.gov] and find yours, if you don't know who they are. Get their phone numbers. Flood their switchboards and tell them - no housing bailouts of any kind.

You can write letters to these Congresscritters. They can be faxed - again, their numbers are at the above web sites - or mailed with a good old-fashioned stamp.

You can email them too if you want, although I think you should mail, fax, or call them.

Why should you do this? Because the only fix for this is to withdraw any hope of a bailout, and thus force house prices down from a median of 5x annual income to 2.5-3x annual income.

And why should you do that, even if it might harm you?

Even if it causes you to get foreclosed on?

(Which, by the way, isnt' the disaster it appears to be. Yes, it will ruin your credit for 7 years. So what? You'll be able to buy your house back for half of what you paid for it the last time! Why would you complain about something like that?)

IF YOU DON'T ACT TO STOP THIS STUPIDITY YOUR CHILDREN ARE GOING TO GET ASSRAPED BY THE ECONOMIC REALITIES WHEN THEY COME HOME TO ROOST, AND YOU WILL BE THE PERSON RESPONSIBLE FOR SCREWING YOUR OWN CHILDREN.

WHY will this happen?

Here's reality kids - The Dollar is collapsing. It is under 80 and headed lower. Attempted bailouts will FAIL, will destroy the dollar, are likely to provoke capital flight which will drive up real interest rates to the sky, and will trash our economy for a decade - or more.

Now let me make a promise to you.

If there is an attempt to bail this mess out that actually passes 10 years hence and the economy does go in the shitter I will take out a series of full-page ads in national newspapers.

I will explain, in very blunt English, exactly what happened and why.

I will point out to them that the reason they are paying 70% tax rates is because of the GREED of Dear Old Mom And Dad, who had to have a Lexus and a constantly-increasing house price so they could buy a plasma TV, even though they KNEW it would screw their children!

I WILL REPRODUCE THIS TICKER SO YOU CANNOT DENY YOU WERE WARNED.

Now what MIGHT happen if this comes to pass?

Let's look into the future 10, 20, 30 years.

You're older. You can't work any more. Social Security and Medicare have collapsed. You didn't save a nickel, instead MEWing it all out and blowing it on baubles, plasma TVs and Lexi.

You are a debt slave, with little or no income.

You come knock on your dear kid's door, asking for some help. You know, basic help. Like a place to live, because the "social safety net" is gone.

It has collapsed due to greed.

YOUR greed.

Guess what? Your kid has a copy of the full-page ad, complete with this Ticker. He's living in "manufactured housing." Maybe he's renting a modest apartment. Or perhaps he has a modest - 1000 square foot - house, but is struggling under crushing tax loads - 70% of his gross income.

He remembers the house in California, Florida, Chicago. The manicured lawns, the two Lexi in the driveway, the boat. All the trappings of wealth. He remembers....... and thinks back..... then, with shock realizes the truth - you knew what was coming. You were warned.

He asks you - "Dad, did you do your goddamndest to stop this shit?"

You stammer. You hem and haw.

Does he or she let you in? Or do you get to eat the shit sandwich you served him?

Raise him you claim you did eh?

No.

You assraped him by destroying his economic future.

You were a greedy bastard, not a parent.

NOW ITS HIS TURN.

Wanna play Russian Roulette with your future guys and dolls? Guess what? The six-shooter you think the other guy is playing with is in fact pointed at you!

Why am I telling you this?

Why am I going to do this?

Because you are screwing with MY DAUGHTER'S future to buy that Lexus and Plasma TV, along with pumping up your "right" to have an overpriced bubble house!

Not just your future, or your kid's future.

MY kid's future.

Believe this - as God is my witness - if you sit idly by (or even worse, encourage) a bailout, and our economy goes down the toilet, I will not sit by quietly when it boomerangs back on my kid 10 or 20 years from now.

That's a promise Guys and Dolls."