ok, that was quick. part 2. but first, a digression.
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Originally Posted by SuchFriendsAreDangerous
that is startlingly close to the attitude expressed by the drunken good ol american arguing with the protesters at the intro to "Jimi Plays Berkley"..
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lucky for me i am not responsible for what goes on in your head or how you misread things. the reason for my question is explained below.
if you follow what goes on in this board, you may have realized dave does not express himself like a working stiff, but rather as a member of the, let's call it "investor class". you may be familiar with marx and his notion that ideology is dpendent on social class.
of course this was confirmed by his reply, and so i molded my answer address to his particular point of view. his perspective on the economy is necessarily different from people like me who depend on business orders in order to make a living, or different from those who depend on a company or the government to give them a job to make a living.
anyway. on with the story.
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Originally Posted by davenotdead
well i have a business property. one tenant did leave.
i talked to a realtor and she told me to just put it up on craigslist myself because she couldn't do much better. that was honest of her.
and then my house...which i need to file to get a lower monthly mortgage on.
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yep. now realize your realtor is probably going on the rice and beans diet as well. your former tenant and his employees are also out of the economy at this point-- collecting unemployment or who knows what. that puts a greater burden on the government than if the government had help keep the business afloat, by, say, purchasing something from them (provided of course it's not an absurd business doomed to failure in any climate).
you also are stuck with the property taxes whether you have a tenant or not, or maybe you have empty business rates, i dont know. but to maintain etc. the city has to pay to police, etc etc--
think what happens as more businesses shut their doors; eventually the customers of your other tenants would disappear and guess what? the malady spreads like a bad chancre. in the case your tenants all left you'd be fucked and you might have to sell your building (if you could find a buyer) for peanuts or worse, just let it rot and have it seized for overdue taxes, or having it taken over by squatters.
im not trying to spook you or anything, but that's the prospect we've been facing since september of last year, and it's not over.
so, going into a little debt to keep things going is not a bad idea from wherever you look at it, whether you're a working stiff or a business owner or an investor, because ultimately we're all in the same goddamn boat.
comparing this debt to dubya's debt:
dubya used his credit cards to buy groceries because he spent his cash to pay his cocaine dealer.
obama is using his credit cards to get himself a clean suit and go looking for a job. sorta. more like, to set up a lemonade stand in the corner.
by providing a guarantee that contractors will be paid, this has the potential to put money back in circulation thus restoring the public trust in the economy. i say potential, because the shithole might be deeper than we realize. but doing nothing is not an option---doing nothing simply would guarantee that we're fucked for the next 10 years.