rmowery says: George and crew have it under control. No worries. Just more of the same thing that caused much of the problems we have. Diving to work yesterday an economist on the radio says we face circumstances that could cause a crisis worse than the 1930s. Cheery, huh?. His suggestion was to stop paying your mortgage because "you are throwing your money away" and to stock up on "horde" nonperishable food items, and personal hygiene products. ? I wonder where the economist thinks people will stashed the food they hoarde if they stop paying a mortgage, since the bank wil take the whole thing. Actually I keep finding lots of the negative clips and no one seems to see the bright side - there is a bright side. For too long the economy has been driven upward Falsely, but everyone wanting more "stuff" and willing to work as many jobs as needed to get and try to afford the "stuff" they think they needed. It really made lots of money for China and others willing to push their workers to serve all the consumers here. It alllowed everyone to have both parents working and kids left home to do what ever (school shootings, teen pregnancy,... I wonder where the economist thinks people will stashed the food theyLOL. Good point. I think maybe he is presupposing government bailouts on all mortgages. looney. ...or that bank will forgive the debt because the value of the homes have fallen far below what they were when the mortgage was acquired.. See request by Bernanke that banks should forgive debt. Darn - Maybe they should just forgive credit card debt and peronal loan debt too I think insanity is spreading out there. No one told these people to buy homes that were beyond their means. I can't see why we tax payers should be taking any hit or should the government. Put the homes up for auction and the people with the money can purchase them. Problem is people with the money already have homes they are taking care of. It is a shame society has come down to greed and overspending. Darn - Maybe they should just forgive credit card debt and peronal loan debt tooYou smile, but that's just the kind of populism some like to hear, and more than a few politicians will be eager to oblige them. rmowery, I agree. I think people these days have a gross narcissism and a sense of entitlement. |
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