<p>“(You think maybe the inflation of food stuffs in Syria and Jordan might just have a little to do with General Betrayus’ ethnic cleansing policies and the two million refugees, 600,000 just between July and October?)”</p>
<p>Inflation is occuring all over the world. Our leading export is American dollars.</p>
<p>Your article was on foodstuffs in the Middle East. </p>
<p>But what does it matter? Just bend over and take it. We all live on borrowed time, so what’s a little money thrown into the mix?</p>
<p>We must be reading a different article. :)</p>
<p>The problem is many of these countries never had to produce anything but oil so they are dependent on others for everything. Now the price of oil has had a mild boomerang impact and they are crying the blues. Maybe they should have invested the oil revenue more wisely in developing their own farms and industries. Instead they created government jobs of dubious value to make people feel middleclass when they are really just on the dole.</p>
<p>Somebody please bail this person out…
[FORECLOSING</a> ON HEARST WIDOW - New York Post](<a href=“FORECLOSING ON HEARST WIDOW | Page Six”>FORECLOSING ON HEARST WIDOW | Page Six)</p>
<p>The auction was held, but the property wasn’t sold. I believe the high bid was $22 million by the note holder. </p>
<p>Greg Norman, the golfer, is interested.</p>
<p>The Iraqis were once feeding themselves just fine, and had the largest middle class in the Middle East. Free, quality health care, too. 
Now, in good capitalist fashion, they buy food that is produced by their neighbors. Prices are up, both there and in the neighboring states. It’s all good.</p>
<p>“Bank of America suggested creating a Federal Homeowner Preservation Corporation that would buy up billions of dollars in troubled mortgages at a deep discount, forgive debt above the current market value of the homes and use federal loan guarantees to refinance the borrowers at lower rates.”</p>
<p>dstark, if this is what you mean by a government bailout, I wholeheartedly agree!!! I have no problem with an innovative government or government/private sector plan which reasonably reduces further economic pain as a result of the mortgage credit crisis. The Municipal Assistance Corp which averted a disasterous NYC bankruptcy was such a plan. It was a government/private partnership, used the property tax assets to bring stability to the muni bond market, required NYC to adopt policies to get it fiscal house in order, and at no cost to federal tax payers. I think there was some limited help from NYS at the onset of the program however. </p>
<p>Often the biggest need in financial crises is time to sort out the mess, make necessary legislative/business practive changes, avert a panic situation and spread out the unavoidable financial losses. </p>
<p>And if the worst case scenario occurs with a long term economic depression, almost no one will come away unscathed short term. I am now invested more than 50% in cash/fixed securities and would welcome a market crash with the opportunity to buy back in at 50 cents on the dollar. But the pain felt by most Americans would be devestating. I’ll take an 85 cents on the dollar buy back, which is about where we are at now.</p>
<p>I have to admit I don’t know the details of the NYC bankrupcy plan.</p>
<p>I think we are going to inflate our way out of this mess. (I’m not adding the inflation links for kicks :)).</p>
<p>If we inflate, on the surface it looks like we didn’t lose any money. In reality, we lost purchasing power which means our money is worth less.</p>
<p>Originaloog, my guess is you watch CNBC. Have you seen the Wachovia Bank commercial? The one with the pretty young lady who has a mortgage that can be paid in four ways? </p>
<p>One of the ways is you can make a minimum payment that doesn’t even cover interest. Then the very cute woman says if she uses the minimum payment route, she gets $500 in a month. </p>
<p>Uhhh. No she doesn’t. That $500 is added to the mortgage. </p>
<p>I can’t believe Wachovia Bank still has that product (called payment choices).</p>
<p>The US taxpayer better not buy that loan.</p>