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Old Yesterday, 07:30 AM
 
Location: Outside US
935 posts, read 377,678 times
Reputation: 1193

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Quote:
Originally Posted by SWFL_Native View Post
crooks, the whole lot of em... they are bigger and badder than ever right now.


Student loans, auto loans, and bad mortgages on un-affordable homes are the next trifecta to pop.
I see it the same way.

How do Americans just accept
Getting screwed year after year?
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Old Yesterday, 08:14 AM
 
8,796 posts, read 3,844,045 times
Reputation: 1713
Quote:
Originally Posted by SWFL_Native View Post
We are “fine” as our entire lifestyle has been funded and extended by the use of debt. Add up all public (National, state, municipal) and private (student, auto, home, cc) debt and the numbers become staggering. They will have no tools to get out of the next one as more debt begets more debt and eventually there will be no more buyers.

At that point the dollar will crash your homes and retirement plans become worthless and we will see stagflation in the likes we have never seen before in this country. Good luck!
There are always buyer for Treasuries.

My question was about individual posters situation today.
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Old Yesterday, 08:27 AM
 
Location: Norfolk, VA
6,097 posts, read 5,817,877 times
Reputation: 3338
Quote:
Originally Posted by Hoonose View Post
There are always buyer for Treasuries.

My question was about individual posters situation today.
Better.

Rent is too high of course but I have a lot more money to deal with it.
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Old Yesterday, 08:44 AM
 
8,796 posts, read 3,844,045 times
Reputation: 1713
Quote:
Originally Posted by goofy328 View Post
Better.

Rent is too high of course but I have a lot more money to deal with it.
My economic situation is also much better.

Rent is very location dependent. I pay about $1000/mo for a 1 BR furnished Apt. including all utilities.
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Old Yesterday, 09:08 AM
 
126 posts, read 42,424 times
Reputation: 297
Quote:
Originally Posted by Hoonose View Post
My economic situation is also much better.

Rent is very location dependent. I pay about $1000/mo for a 1 BR furnished Apt. including all utilities.

I am also economically better off. I managed to stay employed through the worst of the crash and kept putting money into the stock market. Those returns have been great and are funding a comfortable retirement. I expect to see another serious drop during my lifetime, but I think I'm emotionally prepared to handle that.
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Old Yesterday, 09:16 AM
 
8,796 posts, read 3,844,045 times
Reputation: 1713
Quote:
Originally Posted by numsgal View Post
I am also economically better off. I managed to stay employed through the worst of the crash and kept putting money into the stock market. Those returns have been great and are funding a comfortable retirement. I expect to see another serious drop during my lifetime, but I think I'm emotionally prepared to handle that.
The crash was one of, if not the best buy low opportunity of my investment lifetime which dates back to the late '70's. I too expect another drop at some point in time. But not a serious one short term.
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Old Yesterday, 09:22 AM
 
69,926 posts, read 70,490,900 times
Reputation: 47580
Quote:
Originally Posted by SWFL_Native View Post
We are “fine” as our entire lifestyle has been funded and extended by the use of debt. Add up all public (National, state, municipal) and private (student, auto, home, cc) debt and the numbers become staggering. They will have no tools to get out of the next one as more debt begets more debt and eventually there will be no more buyers.

At that point the dollar will crash your homes and retirement plans become worthless and we will see stagflation in the likes we have never seen before in this country. Good luck!
that is what i have been hearing ever since i entered the job market... that was in 1974.

in the mean time with all that talk i am now retired and did far better then i ever imagined ...so much for predictions .
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Old Yesterday, 10:40 AM
 
Location: Norfolk, VA
6,097 posts, read 5,817,877 times
Reputation: 3338
Quote:
Originally Posted by Hoonose View Post
My economic situation is also much better.

Rent is very location dependent. I pay about $1000/mo for a 1 BR furnished Apt. including all utilities.
Like close to $1,400 a month all utilities. You might be in a cheaper city.
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Old Yesterday, 11:04 AM
 
7,775 posts, read 7,150,564 times
Reputation: 6086
It's from the perspective of the regulators and major participants on Wall Street who were seen as most responsible for the crisis. It should be seen as nothing more than that and another attempt to rewrite history from the point of view of the victors. There are plenty of critics that weren't interviewed.

Because of the large concentration of securities and counterparties in a few very large firms, there was probably no other way for the Goldman Sachs, JP Morgan, and Citigroup to profit from the crisis than to threaten to take down the whole system. Along the way, they took out several of their competitors in Bear Stearns and Lehman who the Fed refused to rescue.
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Old Yesterday, 11:18 AM
 
1,486 posts, read 336,446 times
Reputation: 2490
One thing to keep in mind is that a Documentary film is NOT Truth with a Capital T. There is no requirement that a documentary be factually accurate. There is no requirement that the analysis be correct. Documentaries are not like peer-reviewed papers published in academic journals that advance the state of knowledge.

Documentaries are entertainment. That's it. Entertainment. (Many have purposeful errors of fact -- i.e., fabrications -- and many have purposeful errors of analysis as well.)

I volunteer at Sundance Film Festival each winter in the Documentary track, and see most all of the docs premiered or screened. Sometimes, during Q&A after the screening of the film, they will be called out on their bias. One producer/director said, "Well, this is my point of view. Feel free to make your own film."

Here's one incredibly biased & one-sided documentary: Hot Coffee https://www.imdb.com/title/tt1445203...1?ref_=nv_sr_1, bought by HBO Films and broadcast as part of their documentary series.

The creator/producer/director is Susan Saladoff, a lawyer who made her fortune suing & settling with doctors for medical malpractice, suing & settling with major corporations for anything she could think of, etc. She's the kind who searches for a plaintiff and then sues anyone and everyone within 20 miles.

The write-up on IMDB regarding Hot Coffee is:

Quote:
How the infamous McDonald's hot coffee lawsuit and similar cases were exploited as part of a right wing crusade to weaken civil justice.
Clearly, the documentary isn't attempting to be truthful or fair or examine all sides of an issue. Saladoff has a point of view: she believes in a vast right-wing conspiracy.

We all know the courts are clogged with lawsuits where people hope to win the litigation lottery. We all know some of them are frivolous and are merely a game - the plaintiffs attorneys have no intention of trying the case in the courts, but instead are shaking down the defendants to get an out-of-court settlement. Some of these cases are laughable and get thrown out. For example:
  • Richard Overton sued Anheuser-Busch for $10,000 when drinking a six-pack of Bud Light failed to produce visions of beautiful women on a balmy beach. He claimed emotional and psychological distress.
  • The parents of Karen Norman sued Honda when their daughter died from not being able to escape from her Civic after backing into Galveston Bay. She had a blood-alcohol level of 0.19
  • Austin Aitken sued NBC for $2.5 million because watching Fear Factor on TV made him vomit and run into a wall.
  • Cleanthi Peters sued Universal Studios for $15,000 because she claimed the annual Halloween Horror Nights haunted house was too scary and caused her emotional distress.

At any rate, Saladoff was on stage after the premier of Hot Coffee, participating in Q&A with the audience. One audience member called her out regarding her one-sided view. She came unglued. She began screaming at the tops of her lungs that:
  • There is no such thing as a frivolous lawsuit
  • Republicans are evil scum
  • All of the worlds problems could be solved by assassinating Dick Cheney and destroying Halliburton

I'm not exaggerating. I thought she was going to have a hemorrhage or heart attack.

Just because a film is a documentary does NOT mean it is truthful, accurate, insightful or in any way correct.
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