Fundamentals? Why should I make my next mortgage payment?

No one in America today can tell you what his home is really worth. Walk in to any restaurant or other public place and simply ask someone who "owns" a home what he thinks it's worth. He can't answer that question nor can the banks that hold his paper.

That's why it's not hard to understand why someone with an upside down mortgage caused by the irresponsible actions of both the banks and our government to wonder if he should even make that next monthly payment. After all, some people would argue, they've lived up to their responsibility by paying every month on time...kept their side of the bargain, while the banks, in their poor fiduciary response in its duty to protecting the investment on their end get bailed out. The banks' inability to make good loans has affected the price of other homes. In fact, not one home is worth any more than the other when it gets to this point. Ask an appraiser if this is not true. The price of a home is based on what the market will bear.

It causes one to contemplate the rest of the financial set up we have here. Something really awful is happening to America. I have to agree with those who blame it on greed; oh, yes, I saw way too many banks take loans on a matter of greed rather than on a matter of the debtor's ability to pay. Much of that activity was promulgated by those in charge who demanded home ownership opportunities for people who didn't have jobs! I remember the stacks and stacks of offers to refinance and make it easy as pie to use your home as an ATM.

One of Senator McCain's fundamentals is absolutely correct. Decent people will continue to pay an upside down mortgage because it is fundamentally the right thing to do--I guess--although I'm not sure it's the right thing to do, as is getting up and going to work even though they're spending way more than they should have to for gas to get to that job. One thing I believe is that every bit of this misery is caused by huge numbers of people not doing, fundmentally, the right thing.

Now that the George Bush and the Congress wants to bail out these banking imbeciles, in the meantime forgetting those long-gone mortgage brokers, they also want to increase our taxes to pay for this mess. They hold the D word over our heads and in the meantime hold America hostage, saying the U.S. must save AIG.

Let's see. Fannie and Freddie, AIG shenanigans should cost all of us about about $800,000,000,000 (billion).

On second thought, maybe I'm not into fundamentals these days. Maybe we Americans who in good faith placed our money in the hands of these scheisters should stop paying our mortgages for a while. What are they going to do? Kick everyone out? Let's see where that puts these boobs, their golden handcuffs, their zillion dollar houses and royalty lifestyles that were gained off the backs of people like you and me. Enough already. Enough.

Thanks for the read.