We need a depression (loans, credit, debt, mortgage) - Economics - City-Data Forum

carlitasway · 09-30-2008, 05:48 PM

Yes, it will suck but it's time we've gotten good dose of reality and good lesson. We are so out of control with the materialism, debt, credit, loans. It's all foolishness!

Lulu101 · 09-30-2008, 05:51 PM

I don't know--we already had one depression and people were back to their materialistic ways by the 1950s (maybe earlier)? It seems to be endemic.

kaimuki · 09-30-2008, 05:51 PM

Do you have any idea what your're saying? A Great Depression today would dwarf the Great Depression of 1929-1939. It could take us decades to recover, who wants that.

Lulu101 · 09-30-2008, 05:54 PM

Also, I don't agree with this notion that a depression will improve people somehow and "cleanse" things. Look at the Weimar Republic.

The idea that people who go through an extreme traumatic event automatically become wonderful, well-adjusted human beings is foolishness.

carlitasway · 09-30-2008, 05:55 PM

Quote:

Originally Posted by kaimuki

Do you have any idea what your're saying? A Great Depression today would dwarf the Great Depression of 1929-1939. It could take us decades to recover, who wants that.

Yes, I know what I'm saying. Like I said, it will suck but I feel we need it.

jimmyP · 09-30-2008, 05:57 PM

I think depression is pretty harsh but a deep recession to clean out some of the waste is probably necessary. Credit drying up is harsh but necessary. We got into this problem because of easy credit and the innate feeling of keeping up with the neighbors. Turns out the neighbors weren't really doing so well either.

ylisa7 · 09-30-2008, 07:03 PM

Bring it on. I'm tired of being extremely responsible and all the fools that are in debt up to their eyeballs, the ones that are greedy and the ones that overspent are getting help. No it won't be pretty. And people won't turn out great because of it but Americans really need to get off their high horses and come down to reality.

Let's get back to the motto "save for a rainy day".

Lisa

bchris02 · 09-30-2008, 09:00 PM

All you people wanting to see economic collapse...get rid of your computers, throw away your Ipods, get rid of your Hollister and Abercrombie clothes, and move to Montana or Wyoming and live off the land. It will be sustainable, good for the environment, and you won't have to use credit. Just what you want right? Better yet, move to a third-world country where they are in a continued state of depression that will never end. People starve to death frequently because there is no food, and civil unrest is commonplace because there is no jobs. Sounds good, right?

You people make me sick!!!!

carlitasway · 09-30-2008, 09:02 PM

Quote:

Originally Posted by bchris02

All you people wanting to see economic collapse...get rid of your computers, throw away your Ipods, get rid of your Hollister and Abercrombie clothes, and move to Montana or Wyoming and live off the land. It will be sustainable, good for the environment, and you won't have to use credit. Just what you want right? Better yet, move to a third-world country where they are in a continued state of depression that will never end. People starve to death frequently because there is no food, and civil unrest is commonplace because there is no jobs. Sounds good, right?

You people make me sick!!!!

I don't have an Ipod and never did shop Hollister and Abercrombie.

NCyank · 09-30-2008, 09:08 PM

I don't use credit now (with the exception of a mortgage that was below 20% of our net pay when we got it, now closer to 10%. When this sucker is paid off in 4 years I plan to live the rest of my life without credit).

What is it that you think I'm missing..an ipod? HA!!

FYI...I can buy all the stuff you listed with CASH (if I wanted all that stuff).