Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
Forcing banks to lend to unqualified borrowers is a disaster. It has been done before and it doesn’t work. The reality is, everybody doesn’t get to own a home. Work hard, save and maybe someday it can happen for you, but no promises. I know that’s hard to hear for some people, but the truth does hurt sometimes.
The banks did a lot of them a favor by not lending them money.
How many loans are upside down?
How many with loans have homes that depreciated?
How many with loans have homes that appreciated slower than a turtle?
The solution is more loans to avoid disinvestment because people with cash will not invest there?
How many have a home loan, car loan, student loan, and payday loan, and/or title loan and now cannot pay their bills?
Loans are more dangerous than COVID-19 to people with little money.