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Every day people who worked hard and saved money. They're not losers with loser mentalities. They don't think that society owes them anything. Pocahantas and AOC, take note.
So....since billionaires and millionaires constantly lobby congress for subsidies, deregulation and tax cuts they definitely don't think society owes them anything, it's only when the little ppl want a $15 minimum wage that they do. Gotcha. Keep drinking the koolaid
Either you're a public employee, or you're an anomaly. Believe me, most business didn't just "eat" the enormous increases in premiums and deductibles. What typically happens is they'll switch the plan/s they offer (or the terms of the plan/s) to keep premiums a stable business expense while sticking employees and their families with ever-higher deductibles.
I have one car payment. I don't recall 0-2%. I have no other debt.
Exactly. And that's how it's done.
Hate the banks? And many people do... DON'T pay them credit card, etc., exorbitant interest rates. Period. Full stop. DON'T bank with anyone who charges an ATM fee. It takes effort to research what each bank charges, but it's worth it because it's an investment in yourself.
This is an upper middle class couple that did well for themselves. As a liberal I have no problem with them or what they've accumulated. They now have what it takes for each of them to spend twelve years in the average nursing home.
Dave Ramsey is a political hack. Ramsey claims that we liberals have all been indoctrinated by our communist college professors. Guess what, the only professors that discussed politics at all were the political science professors. The English teachers taught literature and the math teachers taught math, nothing more. We didn't have meetings after classes to discuss how to help the North Vietnamese defeat America.
1.5 million isn't a lot of money when you consider the costs of retirement. Beware of hacks who indoctrinate you into thinking that we liberals are hostile to the upper middle class. If we have a problem, it's with the super rich and the way that they subvert the democratic system.
He did not like what got us into the Great Recession, namely government programs encouraging people to buy houses they could not afford.
Quote:
Originally Posted by InformedConsent
Bingo!
The ignorance that prevails regarding causes of the great recession is astonishing. A person who is stupid enough to get a variable rate mortgage deserves what they got.
The rest of the story regarding the great recession could fill a book and might be over your heads anyway. Thank God Fox news keeps everything so simple for you.
Were the govt. programs responsible for zero down loans?
The Fed Gov was responsible for forcing Fannie and Freddie (as HUD was their regulator) to buy $2.4 trillion worth of mortgages made to those who wouldn't otherwise qualify. The edict was made my HUD's Cuomo (Clinton Admin).
What happened... Countrywide and other mortgage originators were given special permission from Fannie to originate loans to those with no/risky credit.
The consequence? The $2 trillion Fannie and Freddie bailout that almost no one knows about. The amount of F&F MBS on the H.4.1 in 2008? Zero. The current outstanding principal balance on those GSE MBS listed on the Federal Reserve's H.4.1 is $1.61 trillion.
Those MBS will just roll off the Federal Reserve's H.4.1 as they mature, paid or not. We'll never know because the Federal Reserve doesn't have to recognize or state losses. They just reduce/erase the line item on their H.4.1. Meanwhile, $2 trillion worth of QE created out of thin air was artificially pumped into the US economy.
Oh, and just for grins... Tens of thousands of mortgage borrowers, if not more, will get their homes for free as this all continues to play out and their mortgage debt just rolls off the Federal Reserve's H.4.1, unpaid...
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