Friday, November 04, 2011

When the Middle Class Give Up

I found this blog post through Instapundit: Gonzalo Lira - The Coming Middle-Class Anarchy. A year old, it is an excellent read.

It is a story about a real couple. They are retired, and underwater on their home. It is a story about people who play by the rules and in the end suspect they are suckers for doing so. While it isn't mentioned, we also see the hidden, but highly enthusiastic, Obama redistribution effort in play.

The couple considers to stop paying their mortgage:

But Ilsa is quietly, constantly insisting that they stop paying the mortgage altogether: “Everybody else is doing it—so why shouldn’t we?”
What’s really important is that law-abiding middle-class citizens are deciding that playing by the rules is nothing but a sucker’s game.

What if America's 53% who pay into our system decide to stop?

This story pairs will with the MF Global story (See our posts below - here and here). Here is outright theft of government-regulated investment accounts to the tune of $700m-$1.5b by a firm that had recently passed the most strict government review.

The risk of MF Global's demise on the US economy is nil. But the trust in our government to protect investors from being robbed is in question.

What if the account holders chose to pull their money out rather than risk it being stolen? What if good people stop paying their mortgages? Answer from the blog post:

When the backbone of a country starts thinking that laws and rules are not worth following, it’s just a hop, skip and a jump to anarchy.

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