XPost: alt.conspiracy, alt.politics.bush, alt.politics.republicans   
   XPost: alt.politics.usa, alt.politics.democrats.d, alt.politics.usa.republican   
   From: xavier22@heyheyclub-internet.fr   
      
   On Thu, 05 Feb 2004 22:26:29 GMT, Roedy Green   
    wrote:   
      
   >Back in 1972 I bought a four bedroom house. Like most   
   >people, I did not pay cash. I arranged a mortgage. A few   
   >years later I was horrified to discover that I still owed   
   >almost as much as when I started, so I upped the payments   
   >and paid it off by around 1980, saving myself a bundle.   
   >   
   >I'm a computer programmer by trade, and a financial   
   >institution contracted me to write a mortgage program for   
   >them that had a feature for mortgages made relative to the   
   >prime rate.   
   >   
   >In the process of testing this program, it sunk in what a   
   >mortgage really is. IN RETURN FOR PAYING BY INSTALLMENTS,   
   >YOU PAY THE ORIGINAL COST MANY TIMES OVER!   
      
   add to this that the bank doesnt LEND you money, it CREATES IT. It has   
   no obligation to take it from its reserve. This is called fractional   
   reserve banking. So not only do you pay the cost many times over, you   
   pay back a bank that has lent you FRESH AIR.   
      
      
   >Bush is putting the cost of the Iraq war on the nation's   
   >credit card. The outstanding balance is about $7 trillion   
   >(about $48,000 per man, woman and child. Let's hope you   
   >don't have a large family.) This is like a 50 or 100 year   
   >mortgage for the Iraq war. You won't be paying just $100   
   >billion for the war. You will be paying that same amount   
   >over and over and over in interest charges, until somebody   
   >bites the bullet and starts paying down the debt.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)