As the national political scene intensifies and draws our thoughts toward broader national and international issues, there has been an old proverb, that is not a political one,but has been running through my mind, “the poor shall always be with us.”
The proverb of the poor seems to be a reality, perhaps as real as “the rich shall get richer and the poor shall get poorer.” And this then leaves a middle group that makes up the three class system. Here in a sense is where the study of economics starts. But I want today, to get into politics as well.
It is interesting that people who could not qualify to buy a house, and buying a house usually takes decades, were suddenly led to believe that a subprime system could take them into the homeownership process. At least those who lent the money should have known better.
What were they to get out of it and how could people who could barely afford to pay subprime be able to later pay the contracted higher interest of never never land? Now, it has become the government's job to both save the lenders and the borrowers. The politicians are moving in that direction, and of course it will be the taxpayers who pay.
What economic craziness! These terrible business and banking practices may be the cause of recession. Still those that could not afford a home and those in this general class are soon going to receive something like $300 to spend immediately. This in order to keep the consumer economy going and keep the recession from happening, another form of insanity and a political form of voodoo economics. Who's going to buy the millions of foreclosed homes?
Now, I know why Christ drove the money changers out of the temple. But they were obviously soon to return. The temporary fix of a $300 distribution might be compared to distribution of fish among the flock. This was not a permanent solution for the hungry nor was it to aid the economy.
But I find it interesting that today, we can justify the poor being with us, because they can regenerate the economy with their instant but tiny windfall. This is why the poor shall always be with us, to aid the economy. The poor should take heart in their importance.
