No Free Lunch Homeowners Pay the Price too (credit, financial, closing)

[dansdrive]

Interesting article about the binge spending we have all been on.

[SIZE=2]"This is the reason myself and others like me are happy that we are finally seeing some signs that the cleansing effects of a recession are here (whether or not anyone is willing to admit it). We have binged. Now we need to purge. We have spent, now we need to produce. This is a lifestyle, however, that will not be given up easily and without much pumping by the media, politicians and Wall Street. I’ll leave you with one final graphic and a thought:"[/SIZE]

FSU Editorial: "The Greatest Bubble of All" by Andy Sutton 09/08/2007

Summation: Careful how you spend and obtain credit!

[saturnfan]

There is also the big trade deficit bubble.

If I were in control, and I'd surely be quickly assassinated, I'd shut the borders and repudiate the foreign debt to China.

The US needs to stop being so focused on conspicuous consumption and get back to a position of power and stability.

[goodbyehollywood]

Many feel those ships have sailed.

But I'd vote for you.

[galore]

Originally Posted by goodbyehollywood

Many feel those ships have sailed.

But I'd vote for you.

From a previous post of yours: "But to get into debt of your own volition, then be able to just walk away-- how is that fair?"

LOL, did you have a change of heart

[goodbyehollywood]

Originally Posted by galore

From a previous post of yours: "But to get into debt of your own volition, then be able to just walk away-- how is that fair?"

LOL, did you have a change of heart

Oops! Maybe I wasn't clear. I was talking about closing the borders... and I am always consistent on that topic, as I am about a bailout for those who chose to gamble on housing, in any capacity. You roll the dice, you pay the price. As a taxpayer, I say "caveat emptor." And if they didn't... then why should the taxpayers bail them out?