Bush started by explaining to us how we got to this point.  He said about 10 years ago investors from abroad (planet Mars) came to US and invested their money because America provided the best return for their money and safest place to invest.

Then banks who took the foreign investors’ (aliens from Mars) money and became rich decided to give low interest rates loans to consumers without proper evaluations.  Then to make a long story short, banks collapsed and now unless you pay $700 billion to take care of them foreign investors won’t come here and banks can’t give any more loans and all hell will break loose.

That about summed it up. In my mind it reminded me of the Iranians I know were doing around me.  Talk of real estate and “booming” market was the party’s talk just like it was during the dot com boom.  I remember telling them look what happened to the tech boom what is different with this boom?

Their rationale was just that real estate has always gone up sometimes less sometimes more and as long as it goes up even a little it is the best investment.

Some of them went as far as not only investing in real estate but buying mac mansions that they could not afford.  If you know the kind of Iranians I’m talking about they must throw big parties and show everyone their granite countertops and oversized kitchens and of course who can forget the helping hand serving cocktails and appetizers and the main course in clip-on bowties and black snickers.

 

Just like Bush thinks aliens came from other planets and created this problem some of my friends thought “Iranians at parties” would buy real estate from them or use them as real estate agents to sell their homes and buy more expensive houses.  They would pass around business cards and giving themselves fancy titles (fancier than just agent) and talking about connections they have to not only get quick loans but piggy back loans in case they want that must have mac mansion.

 

Now last weekend I saw the same people passing around business cards for their new business – home renovations at competitive prices!  Their motto; hire illegals and others to do the work and reap the profits.

 

I felt bad for them. They just don’t want to work and think jumping (sinking) ships will “one day” make them rich.  Unfortunately for me I can’t get their image out of my head which is men in their pijamehs (boxer pants) and women with bad hair.

 

The rest of us who works for living and spend within our means are so old fashioned and out of touch!