Posted by: endithinks | November 25, 2008

On the People’s Republic of China being your new landlord

Today Secretary Paulson announced a new plan to buy home mortgages, not unhealthy ones mind you, but healthy good standing mortgages with borrowed Federal money.  Now as you know if you have read my blog for a while I am what is known as a Blue Dog Democrat who believes in Fiscal responsibility.  I don’t want the government spending money on anything besides education and health care.

I am very nervous that this plan is the government owning our homes.  It seems that they decided that nationalizing the banks is not enough, now we need to have group ownership of our homes as well.  So does this mean I have the right to crash at your house now?  Since I will be owning a share of the good mortgages then I should be able to park on anyone’s lawn and borrow a cup of brown sugar whenever I feel like it.

Now, here is the rub.  The government is going to borrow the money in order to own the houses of its citizens.  The biggest lender of the United States is of course China.  Now, I am a big believer in China.  I think that it is only a matter of time before the people rise up and demand limited government control and some form of republic emerges.  I think we will see it in our lifetimes.  However,  I do not want another nation let alone my own owning our houses.

The government has shown that it is incompetent when it comes to housing as is seen in our many housing projects that are despicable by any stretch of the imagination.  I do not want Federal agents getting toasted at the local bar and then demanding to use your living room as a bachelor pad for the night.

I know I am being a bit paranoid, but the principle of the government owning your house is extremely unsettling.  It reminds me of a post I did earlier about McCain’s plan to buy people’s houses that I shredded.

Here is the link to the Paulson story.



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