Three more letters from Carman MB
Letter # 1 – Altona Red River Echo Manitoba, Dec 8th 2011: Main St. deserves most of the blame
In Bills Rolls’ letter “Bankers and big business are not blame free (Nov. 17 edition of The Red River Valley Echo), he said he thinks I want all government abolished and all regulations are evil. Many regulations that are oppressive does not mean all are. A lot of government should be abolished (eg. Human Rights Commissions) is not the same as calling for all government abolished.
God ordained government to exist to prevent total anarchy and mayhem because of man’s sinfulness. It should not be abolished.
God gave government the sword to punish evildoers so that society could function and survive, and laws to keep peace between sinful mankind. These include laws to prevent physical harm to others, fraud and laws for the enforcement of contracts.
God has allowed government to have a military to defend the country from outside aggression. These two functions of the state and the right to collect tax revenue to pay for this essentially sums up the whole jurisdiction of the state.
The tanking of the economy was the fault of Main St. much more than Wall St.
The average size of a new home in the U.S.A in 1950 was 983 sq. ft. and by 2004 grew to 2,349 sq. ft. In 1950 that new house would have 3.37 people. In 2004 that much bigger house would have only 2.57 occupants. So houses grew and grew to house less and less people. Worse still, a record 27.7 per cent of these homes in 2005 were bought for investment purposes and not for the buyer to live in, plus another 12 per cent bought were vacation second homes that year. So Main St. overextended themselves in mortgage debt because of greed.
Canadian household debt is the highest ever as a percentage of income, or financing greed. North Americans thought it was perfectly okay to rack up credit card debt to buy huge flat screen TVs, clothes and latest computer gizmos and to draw on their homes equity to finance big vacations or a car.?The U.S. government is to blame for a huge part in the mortgage meltdown with this sub-prime Freddie Mac and Fannie Mae fiasco. So politicians pandering to minorities allowed the poor to buy a house when they could never afford any house thinking that it’s a human right to live in a house of your own. In 1996 the U.S. government (Janet Reno) bullied the banks to lend to these poor who otherwise could only rent. No one forced poor people to sign that mortgage.
Western governments 80 year failed experiment of a cradle to the grave welfare state now find the bill that is now due is so big it will break them, aka Europe’s debt crisis. Today a shocking 48.5 per cent (highest ever) of Americans receive a government handout of some sort! One trillion dollars of U.S. debt is delinquent student loans. No wonder America is broke.
Stanley Reitsma
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The foolowing letter appeared in the Hanna Herald Alberta on Dec 3rd 2011:
Tanking of the economy in a huge part was the fault of Main Street
The average size of a new home in the U.S.A in 1950 was 983 sq feet, in 1970 the average new house grew to 1500 sq ft, in 1990 the average grew to 2080 sq ft and in 2004 grew to 2349 sq ft. In 1950 that new house would have 3.37 people. In 1970 down to 3.14 occupants. In 1990 that new house would be down to house 2.63 people and in 2004 a decline to 2.57 occupants. So houses grew and grew to house less and less people. Worse still, a record of 40per cent of all homes sold in America in 2005 were 2nd homes! 27.7per cent of homes were bought for investment purposes that year and not to live in, not protect their owners from the weather, the primary reason humans live in buildings. So Main Street overextended themselves in mortgage debt because of greed. Buying too big of house and buying too many houses. No one held a gun to their heads to sign the doted line on that mortgage.
One trillion dollars of U.S. debt is student loans not repaid. No one is entitled to anything they can’t afford.
Canadian household debt is the highest ever as a percentage of income, financing greed is a good description.
North Americans thought it was perfectly OK to rack up credit debt to buy huge flat screen TVs, clothes and latest computer hand held gizmos and to draw on their homes equity to finance big vacations or a car.
The U.S. Government is to blame for the a huge part in the mortgage meltdown with this sub-prime Freddie Mac and Fannie Mae fiasco. Voters bought the liberal thinking that it’s a human right to live in a house of your own.
So politicians pandering to minorities (Democrats to blacks, Republicans to Hispanics) allowed the poor to buy a house when they could never afford any house. In 1996 the U.S. government (Attorney General Janet Reno) bullied the banks to lend to these poor who would otherwise can only rent. Again, no one forced poor people to sign the doted line on that mortgage.
Western Government’s 80 year failed experiment of a cradle to the grave welfare state now find the bill that is now due is so big it will break them, aka Europe’s debt crisis.
Today a shocking 48.5 per cent of Americans receive a government handout of some sort! The highest ever! In the 1920s it was 10per cent and to grew to 30 per cent by 1980. It is Main Street’s greed of thinking they have a right to entitlements (daycare, healthcare, tuition etc). What’s next? Foodcare, carcare, leisurecare and petcare? Democrats in Connecticut want government to give free diapers to low income people. A literal nanny state! No wonder America is broke. Main Street’s greed of living beyond their means.
Stanley Reitsma
Carman Manitoba
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The following letter appeared in the Brandon Sun Manitoba on Dec 8th:
Living beyond their means
The average size of a new home in the U.S. in 1950 was 983 square feet. By 2004, that average new house grew to 2,349 sq. ft. In 1950, that new house would have 3.37 people.
That much larger 2004 new house would house only 2.57 occupants. So houses grew and grew to house less and less people. Worse, 27.7 per cent of homes were bought for investment purposes that year and not for the buyer to live in.
In addition, 12 per cent of homes bought that year were vacation second homes. So Main Street overextended itself in mortgage debt because of greed. Buying too big of a house and buying too many houses.
One trillion dollars of U.S. debt is delinquent student loans. That includes useless far left-wing humanities courses.
Canadian household debt is the highest ever as a percentage of income. North Americans racked up credit debt to buy huge flat-screen TVs, clothes and latest computer gizmos and to draw on their homes equity to finance big vacations or a car. Simple greed.
The U.S. government is to blame for a huge part of the mortgage meltdown with this sub-prime Freddie Mac and Fannie Mae fiasco. Liberal thinking that it’s a human right to live in a house of your own. So politicians pandering to minorities allowed the poor to buy a house when they could never afford any house. In 1996, then-U.S. Attorney General Janet Reno bullied the banks to lend to these poor who would otherwise only rent. No one forced poor people to sign that mortgage.
Western governments’ 80-year failed experiment of a cradle to the grave welfare state finds the bill that is now due is so big it will break them, a.k.a. Europe’s debt crisis.
Today, a shocking 48.5 per cent (the highest ever!) of Americans receive a government handout of some sort! In the 1920s, it was 10 per cent.
It is Main Street’s greed of thinking they have a right to entitlements (daycare, health care, tuition, etc.). The U.S. economy is 2.7 times the size now then it was in 1965, yet entitlement spending is 11.1 times more. No wonder America is broke. Main Street’s greed of living beyond their means.
Stanley Reitsma
Carman
