
downwithpants wrote:Sukunai wrote:In those cases, I think the rules need some massive reworking. Not going to happen of course.
that's actually one of the key points our lovely politicians (including our presidential candidates) are currently arguing about. republicans have for years pushed for deregulation and now democrats are calling them out on it.
Krisqo wrote:How about we do this. Let everything run it's course. Sure people are going to loose their jobs and several banks/companies are gonna go under or be bought out. But isn't this what a recession is? Sure it's a bad one, but isn't that just because we were living the high life for the last 3-4 years and this is just like having our allowances cut or taken away for being bad.
No amount of aid is really gonna help. We just have to let the market stabilize itself. Housing has to hit bottom so it can start restructuring. September was the start and I personally think that October is either gonna be the same or just a little better in terms of market surges in all directions until the elections.
Personally I'm not following this too much. I rent, my job is doing decent business (actually better since the end of August) and I'm working on paying off the rest of my debt. Living modestly is a very good thing.
Krisqo wrote:How about we do this. Let everything run it's course. Sure people are going to loose their jobs and several banks/companies are gonna go under or be bought out. But isn't this what a recession is? Sure it's a bad one, but isn't that just because we were living the high life for the last 3-4 years and this is just like having our allowances cut or taken away for being bad.
No amount of aid is really gonna help. We just have to let the market stabilize itself. Housing has to hit bottom so it can start restructuring. September was the start and I personally think that October is either gonna be the same or just a little better in terms of market surges in all directions until the elections.
Personally I'm not following this too much. I rent, my job is doing decent business (actually better since the end of August) and I'm working on paying off the rest of my debt. Living modestly is a very good thing.

Code wrote:As much as I think Sukanai went overboard, he does have a good point. We shouldn't spend money that we don't have unless absolutely necessary (like with housing and junk). For example, let's not go out and buy "mega super duper big screen tv" when we're hawked up in debt and other money issues.
dwchang wrote:Sukunai wrote:downwithpants wrote:Sukunai wrote:It's because I understand the concept of not spending money I never had.
you do realize, 99% of American citizens wouldn't be able to afford to buy a house until they are near retirement? would it be wiser for them to just rent until then and not gain any equity?
You do realize that 100% of those 99% likely SHOULD be renting if they don't have the income.
Uhm...wut?
Yeah let's completely destroy the housing market and have NO houses then. After all, no one can afford them. Mortgages and loans work b/c people *are* capable of paying them back and thus can own houses. I am not denying that the recent crisis is due to folks overestimating, but that has nothing to do with the basic principle of lending and mortgages.
By your own logic, almost no one would own houses and by supply and demand, no one would even want to build a house to sell since no one can afford them.
This is beyond retarded and you seem to lack some seriously fundamental principles behind lending and mortgages and yet seem to lecture people otherwise. I guess just about every homeowner in THE WORLD (not just the US) is an idiot.

Sukunai wrote:A BUNCH OF NONSENSE
Sukunai wrote:If people stopped buying on forms of credit, and only bought with cash in hand, they would need to massively drop the prices to reflect the fact that no one was buying anything.
Sukunai wrote:I guess this is a bad time to mention the piece of paper I have on my wall mentioning my business education. Probably don't want to look my business plan either.
Probably also a bad time to mention the BANKS made this problem we are discussing.
Is this a good time to ask you how old you truly are? what life experiences do you actually have? I'm 46, I've been married 22 years. I'm the head of the household and I have a 14 year old son.
And I have no debt. Pretty cool eh. More than I can say for the US government (I don't want to make you think I think the Canadian government is any better by the way).
I know precisely how credit works. You borrow money you want from someone else. You use it to pay for something. You owe the lender that sum plus something more. If you don't pay it back soon you get to keep on paying the lender. And the more you borrow, the more you get to pay out without actually paying off the debt.
Did I miss anything?
BasharOfTheAges wrote:High taxes just push people out of the country and piss off the ones lining the pockets of congress.
Sukunai wrote:I know precisely how credit works. You borrow money you want from someone else. You use it to pay for something. You owe the lender that sum plus something more. If you don't pay it back soon you get to keep on paying the lender. And the more you borrow, the more you get to pay out without actually paying off the debt.
Did I miss anything?
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