patrick.net

http://www.zerohedge.com/news/ben-bernanke-672k-mortgage-holder-basketballer-sebring-driver-kindle-reader-wwii-expert

http://theeconomiccollapseblog.com/archives/ben-bernanke-says-that-his-son-will-graduate-with-400000-of-student-loan-debt

Wow, I'm glad to see the United States' Federal Reserve Chairman is a fiscal conservative. It is no wonder this fool is lowering interest rates. He couldn't afford his mortgage with 5.5% interest rates! Ben's son is $400,000 in debt for his education alone. Are poor financials hereditary or is it just that stupidity is hereditary and therefore we have autocorrelation here?

If Ben had any say, his son will immediately finance a home after graduation with a total of $1,000,000 debt! For some reason Ben thinks going into debt is the best way to restore the middle class. In actuality debt is the main reason the “middle class” is poorer than the lower class. Maybe being too poor to take on debt is a blessing. If banks don't trust to give you loans, at least you have a net worth close to 0.

For some reason I assumed differences in class had something to do with money. Lower, Middle, Upper class each class wealthier than the previous. Well, if anyone remembers 5th grade math they will see that because of debt the “middle class" is poorer than the lower class. Thanks Ben for not only facilitating the lowering of the middle class but actually encouraging that they fall below the "poor scum" that banks don't want to even do business with!

#housing