Hard times lie ahead of us, and yet our best days are still to come.
The purpose of the present paper is to elucidate the nature of the present foreclosure crisis, to examine its causes and to discuss possible recommendations for resolving an ever-growing rash of foreclosures, and to nurture a real, lasting recovery.
Thousands of personal and family foreclosures are occurring every month as millions of people reorganize their lives. Countless banks have failed and continue to fail, albeit quietly as very few individuals in media are discussing the continued closures and takeovers. Commercial real estate is feared to be poised as the next significant implosion in the housing industry, and it seems almost as if there is no end in sight.
As unemployment steadily metastasizes over this great nation, officially rippling past 10% with approximations of real unemployment creaking closer to 20%, politicians in Washington forever threaten to solve our problems.
The first requirement for dealing with reality is to recognize it. What is being consistently defined in media and the national legislature as an “economic downturn” or “the Great Recession” exhibits the impressive qualities of being neat, simple, and wrong. We currently stand at the threshold of the Greatest Depression, and government—rather than being the last bastion of clear thinking saviors—is the home of the cause, the culprits, and the clowns.
Though this paper will expatiate further on the underpinnings of this topic, the central thesis of the current paper is the following: Government must be wise enough to halt any further entrance into sovereign debt and must relieve the burden it places on its people by drastically cutting its own spending, over time, and lowering taxes.
That money must flow back to the people, so that individuals, families and businesses can stimulate the economy themselves via buying what they need, producing goods and providing jobs for those who are seeking employment.
We will discuss potential methods and practices that may be put in place to accomplish those goals, at the conclusion of this paper. To begin, however, in order to understand the nascent nature of this crisis as well as the current economic life in America, it is essential to gain a rudimentary understanding of four key areas of the human experience: Economics, history, psychology and human nature. We will start with the easy ones.
Human nature is as variegated as is it is contradictory. Billions of people interacting with one another gives rise to exponentially greater quantities of human personalities. Despite such a yawning breadth of differences inherent in mankind, we tend to share a number of more fundamental similarities that make us uniquely human.
For the purposes of the present essay, the author will argue that in a vacuum, the human condition is one that tends toward destruction, corruption and domination over other people.
That does not mean people are...