Did the middle class aid it's own decline?? (generation, Christmas, 9/11)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
"The upper class enemy" thats some funny stuff right there. Round here the upper middle class is doing just fine. They got the education they needed from the media instead of having to live it out. Sure some used their homes as an ATM. They gambled and lost. The smart ones are doing just fine.
Yeah if you just abided by the note you signed you are just fine on your home. Sure it may have lost some value but that is what happens when you invest. If I buy a stock and it tanks nobody cares. Home is the same thing. Sure you live there but many got into flipping homes and refi's to get their mitts on some cash to buy another care or boat or vacation or whatever they couldn't afford but everybody else was doing is so they gotta be hip too.
Blaming inherited wealth or the evil rich is just plain stupid. Nobody makes you go buy things you can't afford or buy things on credit. It's really that simple until you get a lefty who thinks it's not fair old Bob over there's dad left him a pile of money and he didn't get any of it. Amazing how people think nowdays. Sickening more like it actually.
Yeah if you just abided by the note you signed you are just fine on your home. Sure it may have lost some value but that is what happens when you invest. If I buy a stock and it tanks nobody cares. Home is the same thing. Sure you live there but many got into flipping homes and refi's to get their mitts on some cash to buy another care or boat or vacation or whatever they couldn't afford but everybody else was doing is so they gotta be hip too.
Blaming inherited wealth or the evil rich is just plain stupid. Nobody makes you go buy things you can't afford or buy things on credit. It's really that simple until you get a lefty who thinks it's not fair old Bob over there's dad left him a pile of money and he didn't get any of it. Amazing how people think nowdays. Sickening more like it actually.
Funny thing is the house didnt change. Its the same house it was before someone told them its worth a lot less. Live in it, enjoy it, ride it out.
Sure we did this to ourselves. When we changed from a producer economy to a consumer economy the almighty debt monster took hold and many started to live above their means and went deep into debt with the illusion that it was good because their FICO score said so.
Eventually you hit the wall with how much debt you can carry and pay off.
Consumers hit it and it's just a matter of time before the government hits it.
I consider myself middle class and my current debt, including mortgage, is about a half of my annual salary and decreasing by the week. I did not fall for any of the get rich quick schemes so I kept my wealth.
The problem we see now is the ones who run up the debt are being rewarded with refi plans, bankruptcy and bailouts a lot of which is backed by the taxpayer dollars one way or the other the responsible folks are paying. Now that is what I call NOT FAIR.
The problem we see now is the ones who run up the debt are being rewarded with refi plans, bankruptcy and bailouts a lot of which is backed by the taxpayer dollars one way or the other the responsible folks are paying. Now that is what I call NOT FAIR.
Its a slap in the face to the folks who were personaly financialy responsable.
The problem we see now is the ones who run up the debt are being rewarded with refi plans, bankruptcy and bailouts a lot of which is backed by the taxpayer dollars one way or the other the responsible folks are paying. Now that is what I call NOT FAIR.
I suspect the numbers are so large that if the government didn't come forward with all these plans to save both the people and the companies that we'd be in the second Great Depression right now.
It still might happen because 5 years later we're not much better off and that much deeper in debt.
There was an article yesterday that put this recession as the deepest and longest since WWII. And there is still no light at the end of that tunnel.
>"The upper class enemy" thats some funny stuff right there<
Heres one for you.
Eddie Lampert made 1.1 billion last year while failing in epic style. He "created" -40,000 jobs soon to be -45,000 jobs.
wait. I must be lying because the upper 1% only create jobs. my bad.
I suspect the numbers are so large that if the government didn't come forward with all these plans to save both the people and the companies that we'd be in the second Great Depression right now.
It still might happen because 5 years later we're not much better off and that much deeper in debt.
There was an article yesterday that put this recession as the deepest and longest since WWII. And there is still no light at the end of that tunnel.
People are still buying the latest iPod, iPhone, etc.
I'm completely solvent and don't feel the need to succumb to consumer junk. All of my electronics are second hand; I own two houses outright; I travel the world and save as much as I can.
>"The upper class enemy" thats some funny stuff right there<
Heres one for you.
Eddie Lampert made 1.1 billion last year while failing in epic style. He "created" -40,000 jobs soon to be -45,000 jobs.
wait. I must be lying because the upper 1% only create jobs. my bad.
So it's Eddie Lapmert's fault that folks went out and spent gobs of money they didn't have? Or should Eddie Lampert have just given them all his money to begin with? I don't get your point if you have one.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
