[lbo-talk] Bailout

Mark Bennett bennett.mab at gmail.com
Thu Oct 9 14:25:24 PDT 2008


Nothing will turn someone into a "conservative" (read "reactionary") faster than a thirty-year adjustable rate mortgage and a couple of kids. Not in all instances, certainly, but in many. Rulers have always feared the "rootless mob."

On Thu, Oct 9, 2008 at 3:50 AM, Bill O'Connor <billyoc at gmail.com> wrote:


> "James Heartfield" <Heartfield at blueyonder.co.uk> writes:
>
> >> Michael Smith writes "But look on the bright side. "We" are no longer
> >> enslaved, mentally and otherwise, by a mortgage and the insane fetish
> >> of "home" ownership."
>
> > Sorry, but I am not really following this thought here, are you really
> > saying that it is a good thing that people lose their homes, because
> > that will liberate them? Or that it is good that they are poor,
> > because that makes them free? I know Diogenes thought so - 'I saw a
> > child drink from her hands, and threw my cup away'. But then he slept
> > in a barrel and masturbated in the town square.
> >
> > Home ownership is not an insane fetish, it is one of the ways that
> > people meet their need for a roof over their heads.
>
> Prostrating myself before usurers for the privilege of borrowing money
> at interest to engage in real estate speculation never seemed to have
> anything to do with shelter to me. It always seemed to me, and was
> always *presented* to me, as being a path to wealth, a way to own a
> "piece of the rock", never as "get inside, it's raining".
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