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A person who
contracts with a lender to borrow money to purchase
a home is a debtor. He is indebted to the actual
owner of the house, the lender. He is not a
house-owner, a home-owner, or an owner of the
property. He is the owner of an obligation, a
debtor. |
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A person of this
status -- a debtor -- is not a home owner. He is a
debtor with obligations as specified in precise
detail in the contract he willingly signed, thereby
acknowledging and agreeing to its requirements,
covenants, and rules underlying its enforcement and
his obligations. Only after all his obligations have
been satisfied -- including his payment in full of
all interest, principle, and penalties -- might he
become a home owner. |
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President BO has a
plan that will reduce mortgage debtors' principle
and interest rate. The plan rewrites the terms of
these peoples' contracts. |
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The result of this
plan is to institutionalize the frailty of the
already-weakening concept of what a contract is.
People -- the mass of the population -- are learning
that to sign a contract is not actually as binding
as it was. They are learning a "why not" approach to
signing their names, promising, and committing.
People are learning that they can whine, complain,
proclaim unfairness on the part of any counter party
in any deal. Through such behavior, people may, and
likely will, escape all or a portion of their
obligations. Their new government is here to help...
the whiners. |
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People are learning
this new standard of performance from the organism
that occupies the Office Of The President Of The
United States Of America. |
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The purpose of -- and
the need to have -- any
contract is to: 1.) Specify all aspects of an
arrangement, and 2.) To ensure that all parties
involved understand and will be required to meet all
specified obligations. |
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How many people would
you trust to meet the terms of a contract that you
might enter into for any purpose? |
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How many people would
you trust to make a serious attempt to satisfy the
terms of a contract? |
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Without trust, there
can be no confidence. |
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Without confidence
there can be no market functionality. All agreements
and contracts gain a questionable aspect and become
essentially unsecured. |
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How many people might
you trust enough to do a deal with today? Even if
they signed a contract and swore on the bible...? |
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There should be no
surprise at, nor wondering why, capital markets,
real estate markets, and personal relationships
continue to deteriorate... or why savings rates are
increasing. Markets will continue to deteriorate
until honest, integrity-filled leadership takes
control of the USA. |