Discussion in 'Current Events' started by dave, Oct 18, 2008.
that is all.
Good for you and why does browncafe care
The most intelligent post I have seen in the last 2 months on the presidental election.
So am I !!
I am sure you voted for baby Bush too! Expect more of the same....
My income incresed 250% over the last 4 years. Why wouldn't I wan't more of the same?
In the last eight years I went from part time to full time. I also went from package car driver to feeder with another large increase in income. Now I have gone from renter to homeowner. Life looks pretty good in my little part of the world.
250% of nothing is still nothing.
Percentages are all relevant. What were you making in 2000 and what are you making now?
Lets put your math to the test.
More of the same ? 10 billion a month in Iraq, borrowing $ from our competitors, the crash of wall street, a worthless dollar, 401k and pension losses, housing slump, further polarization of our country, diminished respect from our allies ? I get it, screw everybody else, as long as your boat is afloat.
Try to sell that home now to move into a bigger one.
People who bought less than 5 years ago are now in a negative equity and can't go nowhere. I think we have so much to be thankful for to work for a stable secure company and take for granted what it's like to be thrown out on your like for example a GM autoworker who went from a good paying union job two working two miniscule jobs for way lesser pay and benifits and need some temporary help. And there are some who complain these people are leeches to society.
I was making full time drivers rate in 2000 and 2004. In 2004 was making about 55,000 + about 10,000 capital gains.
How is that 250%?
You have obviously exagerated your claims..
Since I live on less than I make this is exactly what I am thinking about doing. It will not be difficult at all. I have actually found some very good deals on some very nice homes. Thing is since I paid for my house I do not have to sell it now I can easily wait for the housing market to rebound if I choose but since I have a small house these have been unaffected here. Tough choice I also have had three rental offers out of the blue. Now if I would have been an idiot and bought a 4000sf house that I could barely make the payment on now that my hours have been cut I would be in a world of hurt. This is why I have a problem with your desire to bail these idiots out. Why don't you demand the government just give me a larger house. While you are at it I want a faster car. Heck I would even like a vacation home. I think that I deserve one as long as you can blame the government if I stop making payments.
In the end I will likely follow the lead of those smarter than myself and stay in my small house and put my savings in the market. We have what looks like a once in a generation opportunity here. It sure is tempting though to buy a nice house right now. It just seems odd that with all the opportunity out there right now how you can be so negative. There are so many opportunities that I am having trouble choosing just one.
Well put and a good explanation. However, we all must keep in perspective the realities of what happened here. All things are NOT equal in the home buyers market.
Take San Diego County in southern california for example. It is now estimated that 75% of all the homes sold in the last 5 years were 0 down, Interest only loans with large resets and large balloon payments exceeding 25K in 5 to 10 years.
These homes median price range is a staggering 1.2 million dollars.
Today, these homes are valued at approximately 700K to 800K and sinking fast as foreclosures pile up.
The vast majority of people who bought these homes could not afford them in the first place and each was sold on the "idea" of spec buying and never having to realize the reset or balloon.
This county will be devastated in the coming 18 months with mass foreclosures.
This was a common practice in California and there are many counties going into the same direction.
Paper millionaires with an ATM card attached to the home. People withdrew money on equity in the homes to buy the motorcycles, RV's, cars, boats, trailers and other crap.
This "falsely" stimulated the economy.
A credit balloon filled with toxic gas that just exploded in our faces!
Now we are stuck breathing it together.
Multiply 65,000 by 2.5
The increases you speak of were pre-planned negotiated raises and had nothing to do with the leadership of the Bush Administration or polices.
This you can thank your elected union officials for this and not the Bush administration.
Absolutely. My choice to vote for Obama and enjoy income redistribution as I join the homeless on the streets.
Why would I change if I am better off then I was 8 years ago?
I believe this makes a case against the mortgage industry, not the government. Should the government go in and control individual companies profits? If that's where this is heading, I believe the term you're looking for is, SOCIALISM!!! And instead of celebrating Labor Day, we'll be celebrating on May 1st, with the world workers party. http://www.workers.org/
Umm, not sure where you were going with this idea, but lets address the labor day comment.
Labor Day is a holiday that started out as PROTEST to corporate america.
A DAY OF STRIKE against the corporate machine.
It transformed into a day of recognition of workers decades after it began as a DAY OF STRIKE.
So, comparing it to the may day celebration of the world would be one in the same. This is where you lost me.
The real villian in my example is Greed. Theres plenty to be spread around.
Greed goes from the consumer to the goverment. There is no "innocent" player in this mess.
This is the reality we must accept.
The last eight years have been good to me. I have seen my weekly take home pay quadruple. I purchased a house, built a nice savings, and continue to work towards my goal of being independently wealthy. This stock slump is the best thing that could have happened to me in terms of my long term financial goals. The country hasn't had a single terrorist attack on its soil since 9-11-01. I really don't see a downside to this.
Separate names with a comma.