Thursday, October 02, 2008

Money as Debt

A few years ago, many of us looked at our homes like a giant piggy bank that just grew fatter and fatter. "Home prices will always go up", we were told. Homes for sale everywhere were rising in "value" daily. Liar's loans abounded and anyone could live the newly defined American Dream. 

The after effects of the "looneyesta" prescribed by lenders set in and turned the American dream into an American nightmare. Even the political campaign once heralded by both candidates as the new political positivism, has soured with blamed being passed round like a cross between a hot potato and a hand grenade.

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