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unfortunately OUR tax dollars will be doing just that when they bail out these people with these exotic loans
Aye, thats what I dislike about the whole "sympathy" mindset from people who support "theft through taxes". People refuse to take responsibility for their actions and refuse to repair those mistakes even when given the proper tools and instructions to do so. They then whine when they see people who do act responsibly not having the hardships they have and insist that the government step in and tax those responsible people until they begin to have the same hardships as the irresponsible.
Something has to change, and I'm not talking about "more of the same" politicians who promise to further the actions of the irresponsible. I think its time cowards stop hiding behind laws, behind the government to inflict their crimes on the people. I think its time that if they really want to support what it is they claim, they need to sacrifice for it.
As Jefferson once said "The tree of liberty must be refreshed from time to time by the blood of patriots and tyrants". I think it is time people started standing up, rather than standing hidden in the shadows for their beliefs. The people can continue to push this violation of mankind, but the change might not be what they expect. People will only take so much and suffer so much of a fools words and actions.
to play devils advocate though. Can you imagine what will happen if they don't bail these people out? We will have ghost towns, trust me on this. it has happened in a area in Queens (rockaway). There was a article about this on I think MSNBC or something like that. The situation is really bad, but at the same time it sucks that I have to bail out people who were greedy. But more than the people its the banks that are going to get a ton of OUR money becuase they were absolutely greedy. That infuriates me more than anything.
to play devils advocate though. Can you imagine what will happen if they don't bail these people out? We will have ghost towns, trust me on this. it has happened in a area in Queens (rockaway). There was a article about this on I think MSNBC or something like that. The situation is really bad, but at the same time it sucks that I have to bail out people who were greedy. But more than the people its the banks that are going to get a ton of OUR money becuase they were absolutely greedy. That infuriates me more than anything.
the concept of accountability and repercussions for ones actions is at the heart of so
many of america's problems. the concept of punishment for misdeeds has become odious to us.
amazing and all in my own short lifetime.
I recently read that from just 1980 to 2000, that personal individual savings in America declined by 84%. Personal indebtedness increased a staggering 1121%. (I question this) In any case, I feel it is a bad trend and is in part a result of people getting away from the basics.
As someone previously mention, credit cards do in fact serve as a disconnect to the amounts of debt one will accumulate. The realization is much more tangible when you are handing a clerk a fist full of green money to just put gas in your tank.
I remember as a child always being told, if you save up, you can get that toy. Then as a teenager, if I save up, I could get that car. As a young adult, if I save up for the down payment, I can get into that house.
How many people these days actually save money outside a 401k?
Good thing the government sets such a good example of fiscal responsibility.
there is a part to this concept you didnt add in. Real wages has decreased while cost of living has increased. This also helps with why people live on credit.
We are a consumer nation now..not a producer nation. What will these businesses do with their goods produced overseas if we can't afford them anymore ?? Sell them in the third world nations that are making them ? I doubt that because those folks are not making the type of salaries that can buy luxury items.
Nope. I won't drink that particular brand of kool-aid.
You can't be a consumer nation if you run a trade deficit. Doesn't make sense. But you can hold back the economic collapse for a few years sticking foreigners with IOUs. We did that, until now.
In order to be a consuming nation you have to be able to export a reciprocal amount of goods or services. Much of our economy is based on worthless non-exportable services like landscaping, homebuilding and law. If you can't export it, it doesn't contribute to you as a consuming nation.
You think a few people not being able to get a mortgage is bad? You ain't seen nothing yet.
I don't feel that everyone should be bailed out, there is personal responsibility.
That said, I agree with Wild Side, what will the US look like?
Lenders have a responsibility, too; it's not just the individuals accumulating debt.
Economics needs to be taught in the schools.
People learn from what their parents did.
The US never pushes the idea of saving; it is spend, spend, spend 24/7.
How many people even save as much as they can in their 401(k)s?
It's pre-tax money and usually drops your income down to the level where your tax liability is changed to make the change in take-home not noticeable.
to play devils advocate though. Can you imagine what will happen if they don't bail these people out? We will have ghost towns, trust me on this. it has happened in a area in Queens (rockaway). There was a article about this on I think MSNBC or something like that. The situation is really bad, but at the same time it sucks that I have to bail out people who were greedy. But more than the people its the banks that are going to get a ton of OUR money becuase they were absolutely greedy. That infuriates me more than anything.
Yes, some towns will fail. That is, those towns, organizations and people who were banking on idiots rather than being responsible themselves. The thing is, life will right itself after a while. sure, there may be some hardships for some that will trickle down or effect people over a distance, but eventually things will straighten out again as the rust gets removed from the metal so to speak.
The only other option is to bail these irresponsible people out and what happens when you keep taking the heat for a person who refuses to? What do they learn? What will change? nothing, they will continue as is. We have to face the issue honestly, or keep making it worse by "believing" it will get better. In truth, it is much like a battered wife. You won't improve your life as long as you keep making excuses and continuing to subject yourself to that treatment. Its hard, it takes some courage and will be difficult, but you pick up and move on. That is the only way.
there is a part to this concept you didnt add in. Real wages has decreased while cost of living has increased. This also helps with why people live on credit.
They live on credit because they have a "champagne taste with a beer budget". While my wife and I were living off one income, we lived just fine. We had nice things, lived comfortably, and were able to pay all of our bills without going into debt.
I remember talking to a guy that was claiming "life was so hard" and how he made crap wages. It turned out he made 4 times as much as my wife and I at the time and yet somehow, life was hard for him with his 70k truck, a house mortgage he couldn't afford, an entertainment system and random toys he had on credit, and various other activities he spent other peoples money on (credit cards).
No, the issue isn't that people are making so much less. The issue is that people are spending so much more and not taking into account what they do make. Sorry, irresponsible yet again. They are fully to blame. My wife repo's cars constantly from these "poor" people who are really just irresponsible liars most of the time.
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