Chase automatically refinances morgages

[LastVoter]

But the problem is how do you turn it off so you don't overshoot?  If we "nationalized" mortgage debt tomorrow people that want to buy a house a year from now would want the same deal and which politician is going to say no?

You don't say no, you say 'yes'. 

Then we are right back to where we started.  Easy money sending house prices into the stratosphere.  The problem is the US economy is too heavily based on luxuries... the real problem is 99% of Americans don't even realize it.  They honestly think it's reasonable to own a four bedroom house in the suburbs with an SUV and full sized car parked in the driveway and a flat panel TV in every room.

It is precisely reasonable and necessary, Link.   We need to make sure that all workers can live in this style, by reflating their incomes as well as their borrowing capacity.  If every adult male made a proper 'union wage' of $35-50/hour as was the case during more reasonable economic eras, and bought three cars, a four bed-room house with pool, a second house at the lake or shore, a boat, and sent 2-3 children to university, we would have no problems about recession or - more crucially - long term social problems.

You do not see that level of rampant consumerism in other countries and it is ridiculous that the average person regardless of party thinks the government should implement measure to perpetuate that kind of nonsense.  Look at gas prices.  People moan about them but I don't see young stay at home moms zipping around in Toyota Yarises.  No, they want Obama to make gas $1.50 a gallon and drive around in a suburban or SUV.

Your argument is rather beside the point, but I will consider it.  Most economists expect 'innovation' to provide a way around scarcity of certain resources, and even if it does not, what is our super-powerful military for if not to seize those resources from other nations?

Wouldn't it be much simpler to fire the military and create union jobs building trains and solar panels in Arizona? Maybe someday the market can "innovate" us an electric SUV.

[LastVoter]

Well, Link, we should really use the years around 1969-1973 as the benchmark because that was when the American worker reached his peak of well-being.

Cherry pick whatever year you need to to make your point.  It doesn't change anything...

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Link.

And I think our primary focus should be on removing the powers and privileges of the owning class rather than being too concerned about 'excessive consumption' on the part of workers.

No one is putting a gun to anyone's head.  When at&t told me an outdated iphone 4s would cost me $200 plus some ridiculous amount a month for two years I balked.  I opted for a free phone with a discounted plan.  Plenty of sheepeople opt for the iphone 4s.  Why should the government get involved?  It's not the government's responsibility to cause class warfare simply to provide iphones to idiots that don't know how to budget.  The owning class is getting weatlhy partly because of the stupidity of the workers.  Apple does not become the largest company in the world because they sell to rich people.  Go to all those coffee shops for "broke" hippy students and you will see overprice Apple garbage everywhere.  How is that the fault of the "owning class?"  And why should the "owning class" be penalized if the buy apple stock instead of an apple phone.  My mom and dad make six figures.  They do not own iphones.  Why should they subsidize some college student's luxury phone?

Precisely, apple should be nationalized to provide $30-50 an hour union jobs. The success of apple should not go to the shareholders, all of it needs to go to the worker.

[LastVoter]

Precisely, apple should be nationalized to provide $30-50 an hour union jobs. The success of apple should not go to the shareholders, all of it needs to go to the worker.

Jesus F. Christ that is a lot of money.

No, its just $60,000-100,000/year.  Paying adults in their peak earning years anything less just guarantees social ills, and the fabled union wages of yesteryear were in that range, plus benefits.

Well opebo it would be slightly less if proper working hour(less than 1800 a year) were instituted, by getting rid of redundant (micro)-managers.