President Bush II announced in 2004 that he was all for an ownership society.  Some would argue in view of the current housing/mortgage/market meltdown crisis that this was foolishness but the question requires deeper analysis.  Who was supposed to own what?  The general interpretation was that low and middle-income “folk” should be able to own their own home.  The President and the administration partially achieved this goal.  They allowed the financial industry to conduct itself without adult supervision and it came to pass that a lot of low and middle-income “folk” got to borrow money they could never pay back at an initial low repayment rate that would eventually skyrocket so they could feel what it was like to “own” a home until it got taken away from them.  They got a temporary S-7 visa into the Ownership Society.  When it expired, they had to leave. 

This was not a failure on the part of the administration but more of an interpretative expectancy differential on the part of the public.  Yet again it is the public is to blame.

 

The real Ownership Society is an exclusive agglomeration of our betters who have owned and will continue to own most of what exists.  Some of them live here.  You should rest assured that these people and their forefathers have had generations of experience in owning most of what exists.

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