Hallelujah Heard Screamed From Peggy Joseph's Home: Obama Will Soon Tell the Banks What to Charge for Mortgage Payments

Today, during Obama's weekly radio address, Obama promised to lower mortgage costs with another new plan that will revive the economy. (Notice a pattern here? If Obama thinks it, it will revive.) Of course, it was preceded by the words coming soon. It sounds like Obama needed to revive hope which seems to die more each day with thousands of job losses announced under his watch this week. No plans, just words Peggy.

My guess, much like Claire McCaskill is telling corporations what their CEOs will be paid, Obama will define mortgage rates in this country. I have a strange feeling a Faustian deal is coming. In order to provide lower mortgages, you either have to further lower the values of houses in the United States, putting more people upside down, or you extend payments another ten or 20 years. Either way, people lose.

If Obama enforces monthly mortgage requirements which drastically cut the payment rates, the banks will further suffer losses. Maybe that's the real plan to gain more control of the banks, as well possibly ending private property rights and willing property after you die. If you never own it because it's never paid off, and the government owns the banks, then private property becomes but a temporary lease from the government, which gives the government rights beyond what they have now over private property. All of this talk seems very scary to me.