The Economy

Listening to one of my journalism professors say essentially, “Oh, you’re fucked, son. That’s why I’m teaching!”

 

My wife and I went into a BB&B last summer for the first time since 2016 and we were the only ones in the store at 2 p.m. on a Saturday.

 

The economy tanked in 2008 not because people who reported low incomes on their applications got home loans but instead because many borrowers lied and put inflated incomes in their application, frequently with the encouragement of the mortgage companies. The mortgage companies did not care if the applicant lied because the mortgage was going to be sold immediately and because the most corrupt operated with basically no oversight.

I don't know if this proposal is a good idea or not but I don't think it will lead to the wide scale corruption that existed in 2008.

 

There’s a Bed Bath and Beyond next to the pet store I go to. I went in there once and spent way too much on shittily-made king sheets.

Overpriced awfulness seemed to be their MO.

 

The place made me claustrophobic in its heyday. Way too much stuff and too many people in a small space.

 

Whichever side was pushing for it, the basic idea was the same — that people who were not in a financially viable position to buy homes were able to do so.

 

Bed, Bath & Great Beyond

 

That everything was just fine and that there'd be jobs for copy editors until the end of time. Blame some of my journalism professors.

 

It seems to be they're just tinkering with the interest rates (low-credit score borrowers' rate is CLOSER to high-credit score borrowers, but it's still a higher rate. The gap just narrowed.).

If that makes the home more affordable, great. But the 2007ish problems arose from giving the mortgage to people who should not get one in the first place. And this doesn't seem to be doing that.

 

We are kept distracted with culture wars to prevent class warfare.