I think you're right, but I would hope that someone who gives such speeches would be able to at least get a decent turnout from the non-idiots out there.  I think Obama is the closest we've had to a politician who is honest with Americans in quite some time, but he's still far from ideal in that regard.

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That's what I always say about you, boz, you have a good memory for random facts about pussy. -- joh3n
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Continuing to sbusidise risk and negligence sounds like a pretty bad plan. We need to stop, if not now, when?

I don't disagree, however, if we were to apply a metaphor, we need to apply the breaks and slow down in a controlled way rather than slamming into a tree after having gone off the road.

Your home value is already depressed (though that shouldnt matter seeing as it's a long term investment right?)

Actually no. I live in one of the few areas that haven't been hit by the real estate market.

Homes losing another 20-25% sounds great to me.

This would exacerbate the problem. Why should I continue paying my mortgage which is a lot more expensive than my house is worth? Sure, some drop can be reasonable and accounted for. Losing 1/4 of the value means that a lot of people, like me with steady jobs and always paying on time, will be walking away from their mortgages.

Maybe in a few years we'll actually be at a sustainable occupancy rate.

This would be good, except that in reality the rich will still continue to own mansions, and the middle class would drive the poor out of their homes as the middle class downgrades. This simply wouldn't work out well without a huge plan.

Your assets are already losing money. It looks like we're spending our way out, so theres more inflationary pressure on all your assets. I understand degrees here, but hand waving isnt actually an amount or reason.

My assets are losing money, but I can remake them if the economy is back on track. However, I think this points to the weakness in the idea of 401Ks and IRAs using the stock market as a retirement. Either companies should have pensions, or social security should be strongly beefed up to be able to provide 100% for people when they retire, using non-privatized methods of raising money.

Basically all this magic value has to go away somehow. I know I'm going to take a hit already. But all of the "stupid people" better run that gauntlet the same as me. Giving the loss holders, whether consumer or commercial, a pass at the expense of everyone else doesnt sound like fixing the situation. It sounds like enshrining a sweet combination of business risk subsidy and populist wealth redistribution ploy.

In a situation like this, we have no choice but some sort of redistribution of wealth. For the sake of the survival of the nations of the world, at least in something resembling their present forms, they had better look after the poor and middle class rather than just giving to the rich like these plans do. If not, things will get bad fast.

And as far as quoting "stupid people", I really dont see why. If you enter into a contract worth many times your annual income you better understand those complicated terms like "variable rate".

There were other factors. Everyone talks about the idiots that got too much house that they couldn't afford with a variable interest rate. What about the people who had a reasonable house and a fixed income rate, only to see their neighbors all screw up and make their house unsellable, then they lose their jobs? They are just as screwed, but didn't make bad decisions. What about the people who suddenly get cancer or some other major medical problem, lose their jobs, had to refinance their home last year in an unfavorable way to pay for their medical bills? You do realize that the majority of bankruptcies are due to medical expenses, right? I put quotes around stupid people because I don't know how many of them, once you hear the actual stories, really were stupid. I'll admit there were some, but I doubt it was the majority. The myth of the irresponsible (and often minority) home buyer sounds to me just a right-wing talking point much like the myth of the welfare queen. There is some reality inside of every myth, but I don't think that it's completely valid here. This holds especially true since the housing market is not what really caused the financial mess we are in anyway. The banks and investment companies caused this crisis. They are the ones that created the CDS market and other derivative markets that were worse gambles than going to Las Vegas. They are the ones that gambled with our money and their invented money that didn't really exist.
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That's what I always say about you, boz, you have a good memory for random facts about pussy. -- joh3n
[ Parent ]

Those that have the 56" plasma tellies on tick, or those that are still saving to outright buy a 56" plasma telly that are going to get fucked by increased taxation to pay for governmental largesse?

[ Parent ]