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May 21st, 2008 04:32 AM
davinxtk
May 18th, 2008 01:41 PM
El Blanco
Quote:
Originally Posted by Nick View Post
It'd be better if morons would stop buying brand fucking new cars, and just settle for a normal, used car. $1,500 OR $350,000?
So there would be fewer cars produced and the used car market can sky rocket? Not to mention the damage this does to an already floundering automotive industry.
May 17th, 2008 10:09 PM
Fathom Zero Then there would never be any new cars. What will happen when all the new ones break down? What innovation? What advancements?
May 17th, 2008 07:01 PM
Nick It'd be better if morons would stop buying brand fucking new cars, and just settle for a normal, used car. $1,500 OR $350,000?
May 17th, 2008 04:09 AM
Fat_Hippo Making Monty Python references just because you can doesn't make you cool, Sleazeappeal.
May 16th, 2008 06:55 PM
Fathom Zero UGH.
May 16th, 2008 04:23 PM
Sleazeappeal
"It's only a model."
May 14th, 2008 04:40 AM
davinxtk has it occurred to anyone that these credit crises aren't really rooted in credit at all?

i mean, they keep saying that sub-prime mortgages failed because they never should have been signed in the first place-- but doesn't that argument seem spurious, considering that it's in a bank's best interest to get effing paid? they're saying that car loans are defaulting because they were extended to people who couldn't afford them -- yet when i got my jetta in '06 i had to submit pay stubs from a job i had for more than two years that showed that i could clearly afford the car in addition to my rent and incidentals. that's not a faulty asset check, and i really am living close to the poverty line (and for the record i'm still making my car payments on time.)

i honestly believe that we'll find out in short order that these crises are more rooted in the fact that wages have been almost stagnant for the past ten years or more, when the cost of living has been steadily climbing due largely to fuel prices and corporate greed.

i mean how can consumer spending, employment, and gdp all be on the decline and at the same time have posted profits be in the rise? that, combined with stagnant wages, should make it clear that at least on some level these credit crises are being caused by those who directly benefit from profits (executives, investors, bankers, etc) literally choking the life out of the people who are supposed to be lifeblood of the economy (worker consumers).


i make this post during the sixth hour of my third job. i'm able to keep myself afloat because i solve problems and don't sleep. people should be able to work an honest 40 hours a week and have a car and a home and a television and not worry about putting food on their table or how they're going to feed their kid when they finally knock their girlfriend up. instead i'm pulling something more like 75-80 and scraping by, while some douchebag crunches numbers with just a day job, making a six-figure salary and having three weeks paid vacation a year.

i don't even have fucking health insurance, and i live in a state where it's required by law and supposedly "affordable."

before this turns into my blog i'll post it and do my security rounds, but i find AChimp's comment about being "uneducated" and having no "employable skills" surprisingly ignorant for him. employers need to own up to the fact that if someone puts in 40 hours a week they need to have more than $25,000 a year coming to them. unfortunately the way this economy is structured it will have to start with corporations (good fucking luck, right?) and perhaps complimenting the minimum wage with a maximum disparity.

and now i not only sound like a rambling loser but a filthy red.

have at, boys.
May 14th, 2008 04:32 AM
davinxtk doublepost, i blame the board for telling me i wasn't logged in, then making me wait 30 seconds to try and post
Apr 28th, 2008 07:15 PM
El Blanco
Quote:
Originally Posted by AChimp View Post
Well now you're trying to make the free market a fair market!
You'd be right, except you're wrong.

A big part of the problem was the government pushing lending companies to offer loans to people that couldn't afford them. Because, it was apparently wrong that these companies refused to lend money to people who had real hope of paying it back.
Apr 27th, 2008 12:14 AM
Harry Paget Flashman By saying "it would begin to climb downward for a very, very long time" you have already put a good spin on it, Sethomas. Better than "plunges", "spirals down the porcelain bowl with a big 'ka-Whoosh!'" or "plummets like a fat stockbroker off the 35th floor" which are worse. I remember some tough times in the 70's where cutting back on hygiene, eating neighborhood pets and grazing the outdoor bistros for pizza crust sustained many a Berkeleyite.

Everyone should have a shoe box full of Krugerrands in the closet to get through the hard times. It's just prudent planning.
Apr 26th, 2008 08:38 PM
D*O*L*E December: Yes Mr dole, you can sell your house for about 15 grand more than you paid for it and buyers will be slaughtering each other just to get a look in.
March: Your buyers are bankrupt and can't even afford the toilet paper to mop up their tears of despair and you need to drop your price by at least twenty grand before you have a hope in hell of selling your place.
Apr 26th, 2008 05:13 PM
blackwar12
Quote:
Originally Posted by AChimp View Post
The recession will continue as long as the government keeps trying to prevent it from happening. It's just prolonging the problem and will make things worse in the long run.

It might come as a surprise to some, but stupid people are incapable of managing their finances and there are a lot of stupid people. It just so happens that the stupid people also happen to be the most vocal about how it's not their fault that they're stupid and point fingers elsewhere.

The banks need to crank the interest rate UP and let everyone who's going to go bankrupt or lose their home face the consequences of their past decisions. If you're uneducated or have no employable skills and only make $25,000 a year, no, you should NOT be living in a $350,000 house just because the bank gives you a "no-down-payment, 2% interest for the first two years" mortgage.
It's funny because banks around here(Alberta) and in Ontario(so far) check just about every single aspect of your financial situation before you can get a loan from them, and I've heard that there are minimum wage mcdonalds employees in the U.S, that are getting mortgages, and having them default, which leads to reposession, and screwing out of the bank thousands of dollars.

The only way the financial situation would ever be fixed, is if the American banks take a lesson or two from the Canadian banks, and check assets more, as well as stop having politicians throw your money around just to cover up the fact that it's the american people's fault. Somehow, I just don't see that happening, and they'll be knocking at Canada's doorstep just to stay afloat.

lets just hope China doesn't call in their debt, or the United States is finished.
Apr 24th, 2008 10:14 AM
AChimp
Quote:
Originally Posted by mburbank View Post
Being a white, (lower) middle class American is like being in the last car on the biggest roller coaster ever and as you crest the rise you can see that miles and miles away it runs straight into a sausage maker.


The view is tremendous.
Put your hands in the air! :D
Apr 24th, 2008 09:52 AM
Geggy hey guys remember this thread

http://www.i-mockery.com/forum/showthread.php?t=19960
Apr 24th, 2008 09:38 AM
mburbank Being a white, (lower) middle class American is like being in the last car on the biggest roller coaster ever and as you crest the rise you can see that miles and miles away it runs straight into a sausage maker.


The view is tremendous.
Apr 23rd, 2008 08:08 PM
Sethomas Jesus Christ, Costco and Sam's Club are already putting limits on rice purchases.

ASSHOLES WHO MAKE DECISIONS: genetically engineer crops to grow anywhere and everywhere. Implement global sharecropping programs where governments who can afford advanced agriculture but have no land start growing in regions that have land but no finances. Abide by fair and generous quid pro quo or else you'll have lots of volunteer soldiers ruin your investment and possibly invade your ass. Abort the biofuel movement until the food crisis has an end in sight. Quit fertilizing corn crops with nitrogen that destroys the fish market when the run-off hits the oceans.
Apr 23rd, 2008 07:14 PM
AChimp Well now you're trying to make the free market a fair market!
Apr 23rd, 2008 05:59 PM
El Blanco
Quote:
The banks need to crank the interest rate UP and let everyone who's going to go bankrupt or lose their home face the consequences of their past decisions.
And those of us that were responsible with our finances and bought a house we can afford....why are we being punished? Why am I going to see a cut in civil services (which are paid by property taxes)? As pissed off as I am about the bail outs, I acknowledge that morons don't live a vacuum.
Apr 23rd, 2008 01:56 PM
Pub Lover AChimp, you're being demoted from Canadian. I'll let you know your new nationality when I think of a clever way of saying Asshole.
Apr 23rd, 2008 01:14 PM
AChimp The recession will continue as long as the government keeps trying to prevent it from happening. It's just prolonging the problem and will make things worse in the long run.

It might come as a surprise to some, but stupid people are incapable of managing their finances and there are a lot of stupid people. It just so happens that the stupid people also happen to be the most vocal about how it's not their fault that they're stupid and point fingers elsewhere.

The banks need to crank the interest rate UP and let everyone who's going to go bankrupt or lose their home face the consequences of their past decisions. If you're uneducated or have no employable skills and only make $25,000 a year, no, you should NOT be living in a $350,000 house just because the bank gives you a "no-down-payment, 2% interest for the first two years" mortgage.
Apr 22nd, 2008 11:28 PM
Sethomas
Is Camelot over?

I have a lot on my mind. Staying away from the boards while I visited my family this weekend was a good time, and I had a chance again to connect with real people in a non-pseudo-intellectual bar.

A few months ago when the recession was only starting to loom larger, I had a customer tell me that the situation at that point was far worse than anyone was being told, per the evidence of banks seeing fewer and fewer people coming in for loans. When I began to see how right she was, I told myself that this was probably the last economic slump before it would rise again and, after a period of maybe a few years but likely a few decades, it would begin to climb downwards for a very, very long time.

There's no doubt that the 21st century is doomed for economic and humanitarian devastation. I merely have been telling myself that it wouldn't be all that visible or devastating until around 2020 or so.

Please, please, someone show me that I was right then, and I'm not correct in my present view that this recession is not going to end for at least another fifty years.

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