The day we all became state tenents

It may be beyond bearing to think about what I am about to describe, but there is a possibility [in Britain first later here] of everybody becoming a state tenant. A person who pays their rent/mortgage to the state, and this can actually come about via widespread nationalisation of the banks.

It is a wild thought, but don’t weed this one out just yet, having spoken to several contacts across the UK I am satisfied that many people there fear this may be an eventual possibility. If the state (be it the UK, USA or anywhere else) go the route of mass nationalisations then the mortgages held by banks will literally become ‘state loans’. This could result in the state becoming a ‘landlord’ or in them being the entity with the first lien on your home.

If the state were to alternatively leave the profitable part of a bank running and instead take only certain mortgage related assets then the same thing could happen. People constantly say ‘don’t throw the baby out with the bathwater’ but ponder this – what …

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