Torn on this one

[WillowTree]

If you think you'll weather out THIS storm that's brewing, just because you don't have any debt, you're missing the scale of the problem.

Millions of Americans who lived in Hoovervilles in the 1920s didn't have dime in debts, either.

They also, through absolutely no fault of their own, also didn't have jobs.

I do not give a damn how clever you think you are, if this thing unravels like it could unravel, damned few of us will be chatting on these boards a year from now.

Even if YOU can afford your internet connection, hundreds of millions of us won't be able to, and guess what?

The few people left standing won't be enough to make it profitable to keep that internet connection alive.

It's time for an editecian adage about the effect on individual concerning macroeconomics:

If your neighbors are getting poorer, you are too.
Your well-being and their well-being are inextricably linked.​

Thank you Democrats, Thank you thank you

 

[KittenKoder]

If you think you'll weather out THIS storm that's brewing, just because you don't have any debt, you're missing the scale of the problem.

Millions of Americans who lived in Hoovervilles in the 1920s didn't have dime in debts, either.

They also, through absolutely no fault of their own, also didn't have jobs.

I do not give a damn how clever you think you are, if this thing unravels like it could unravel, damned few of us will be chatting on these boards a year from now.

Even if YOU can afford your internet connection, hundreds of millions of us won't be able to, and guess what?

The few people left standing won't be enough to make it profitable to keep that internet connection alive.

It's time for an editecian adage about the effect on individual well being concerning macroeconomics:

If your neighbors are getting poorer, you are too.
Your well-being and their well-being are inextricably linked.​

Thought the last part of my little joke made it clear, it was sarcasm. True I don't have debt, but the bullet proof part was sarcasm.

 

[Paulie]

If you think you'll weather out THIS storm that's brewing, just because you don't have any debt, you're missing the scale of the problem.

Millions of Americans who lived in Hoovervilles in the 1920s didn't have dime in debts, either.

They also, through absolutely no fault of their own, also didn't have jobs.

I do not give a damn how clever you think you are, if this thing unravels like it could unravel, damned few of us will be chatting on these boards a year from now.

Even if YOU can afford your internet connection, hundreds of millions of us won't be able to, and guess what?

The few people left standing won't be enough to make it profitable to keep that internet connection alive.

It's time for an editecian adage about the effect on individual well being concerning macroeconomics:

If your neighbors are getting poorer, you are too.
Your well-being and their well-being are inextricably linked.​

It will not last forever. If times get bad, they will get good again.

It has to happen SOMETIME, so why not now? Why prolong the agony and make is even worse down the road? This system can not be sustained the way it currently is, and no amount of federal bailouts will help. It will eventually collapse, with the only difference being how bad it ultimately is.

Let's get it over with.

 

[PeterS]

Anyone DUMB enough to take adjustable rates that is not a MILLIONAIRE is, well dumb. And to take adjustable rates on an amount beyond the value of the house? She is part of the problem.

Both Jerry Jones and the City of Arlington used adjustable rates to finance the new Cowboys stadium in Arlington. You're probably right though. I think Jones is a billionaire not millionaire.

 

[Paulie]

Both Jerry Jones and the City of Arlington used adjustable rates to finance the new Cowboys stadium in Arlington. You're probably right though. I think Jones is a billionaire not millionaire.

Yes, he's a wee bit bigger than a millionaire. And there's a big difference between a professional sports stadium and a personally mortgaged house.

I'll have to assume that just about everyone who's ailing from their ARM's doesn't have corporate sponsorship, and merchandise and ticket sales funding their efforts.

 

[Orange_Juice]

Paulson Plan May Spark Showdown Between Democrats, Republicans - Yahoo! News

If we buy these Companies then I see no reason why we can not set the pay for their employees including CEO's. I do not support though the idea that we should save the people that made bad loans when they should have known better.

I do not like the Government bailing these companies out but see the need to do so.

I agree

 

[Mad Scientist]

If we buy these Companies then I see no reason why we can not set the pay for their employees including CEO's. I do not support though the idea that we should save the people that made bad loans when they should have known better. I do not like the Government bailing these companies out but see the need to do so.

So instead of being free market companies they become government agencies? Yes, you could then limit their pay as all government workers are, but now the cost of running those same companies falls to the taxpayer and the size of government increases.

The exact opposite of what I'm looking for.

 

[LordBrownTrout]

I bought a new home in 2004. The agent tried to sell me on the ARM at 2 percent while the reg rate was 5.5 percent. I read the whole contract, fine print on back and brought it back with about 20 different circles on various items, one of which included the ARM being adjusted to 11 to 15 percent. I already knew it was a scam but I figured I'd play along. His answer was that "It'll never go higher than 3 or 4 percentage points and wouldn't you like to pay 400 a month instead of 850?" I declined, telling him it was too good to be true. I could sense a little anger from that moment as he said, well we're not sure we can get you a fixed rate at 5.5. I said fine, my bank has already approved me for it. So, I used my own bank for the fixed rate. The moral is that YOU the consumer are ultimately responsible for denying the snake oil salesmen, and that's what they are. They'll take you for everything if you allow them.

 

[Paulie]

I bought a new home in 2004. The agent tried to sell me on the ARM at 2 percent while the reg rate was 5.5 percent. I read the whole contract, fine print on back and brought it back with about 20 different circles on various items, one of which included the ARM being adjusted to 11 to 15 percent. I already knew it was a scam but I figured I'd play along. His answer was that "It'll never go higher than 3 or 4 percentage points and wouldn't you like to pay 400 a month instead of 850?" I declined, telling him it was too good to be true. I could sense a little anger from that moment as he said, well we're not sure we can get you a fixed rate at 5.5. I said fine, my bank has already approved me for it. So, I used my own bank for the fixed rate. The moral is that YOU the consumer are ultimately responsible for denying the snake oil salesmen, and that's what they are. They'll take you for everything if you allow them.

I wish this particular post could be stickied.