The Fear of Fear and our Current Financial Crisis (70)
Galactic_bodhi: Be afraid! Be very afraid.
For many years now we haven't been afraid enough. WTF are people thinking buying a house on the income of, say, a burger-flipper? The very idea should scare the hell out of any sensible human. We can barely make rent, let alone a mortgage.
So, who put the blinders on our fear? Was it a society that condones debt, up to and including death-debt? That's what mortgage means: Death Promise. A mortgage is like marriage, until death do you part. Literally.
So, now what? Live in an apartment again? We'll be lucky if we aren't homeless. This isn't like credit card debt. Written off every seven year cycle. No, this is secured debt. With heavy losses involved in the equity. And heavy black marks on your credit score.
That means we all lose. Futures are uncertain, but real value needs to stay high, or everything becomes devalued if Real Estate becomes devalued. Its the only thing of "real" value in a Fiat Economy. Our money isn't squat if it doesn't roll-back to some sort of real equity. And that simply...doesn't...exist...anymore.
Be afraid! And for the love of Pete, live within your means. As of now, you'll be forced to. And good luck. We're all going to need it.
Agree'd with every part, especially that last.For many years now we haven't been afraid enough. WTF are people thinking buying a house on the income of, say, a burger-flipper? The very idea should scare the hell out of any sensible human. We can barely make rent, let alone a mortgage.
So, who put the blinders on our fear? Was it a society that condones debt, up to and including death-debt? That's what mortgage means: Death Promise. A mortgage is like marriage, until death do you part. Literally.
So, now what? Live in an apartment again? We'll be lucky if we aren't homeless. This isn't like credit card debt. Written off every seven year cycle. No, this is secured debt. With heavy losses involved in the equity. And heavy black marks on your credit score.
That means we all lose. Futures are uncertain, but real value needs to stay high, or everything becomes devalued if Real Estate becomes devalued. Its the only thing of "real" value in a Fiat Economy. Our money isn't squat if it doesn't roll-back to some sort of real equity. And that simply...doesn't...exist...anymore.
Be afraid! And for the love of Pete, live within your means. As of now, you'll be forced to. And good luck. We're all going to need it.
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Galactic_bodhi: Be afraid! Be very afraid.
For many years now we haven't been afraid enough. WTF are people thinking buying a house on the income of, say, a burger-flipper? The very idea should scare the hell out of any sensible human. We can barely make rent, let alone a mortgage.
So, who put the blinders on our fear? Was it a society that condones debt, up to and including death-debt? That's what mortgage means: Death Promise. A mortgage is like marriage, until death do you part. Literally.
So, now what? Live in an apartment again? We'll be lucky if we aren't homeless. This isn't like credit card debt. Written off every seven year cycle. No, this is secured debt. With heavy losses involved in the equity. And heavy black marks on your credit score.
That means we all lose. Futures are uncertain, but real value needs to stay high, or everything becomes devalued if Real Estate becomes devalued. Its the only thing of "real" value in a Fiat Economy. Our money isn't squat if it doesn't roll-back to some sort of real equity. And that simply...doesn't...exist...anymore.
Be afraid! And for the love of Pete, live within your means. As of now, you'll be forced to. And good luck. We're all going to need it.
For many years now we haven't been afraid enough. WTF are people thinking buying a house on the income of, say, a burger-flipper? The very idea should scare the hell out of any sensible human. We can barely make rent, let alone a mortgage.
So, who put the blinders on our fear? Was it a society that condones debt, up to and including death-debt? That's what mortgage means: Death Promise. A mortgage is like marriage, until death do you part. Literally.
So, now what? Live in an apartment again? We'll be lucky if we aren't homeless. This isn't like credit card debt. Written off every seven year cycle. No, this is secured debt. With heavy losses involved in the equity. And heavy black marks on your credit score.
That means we all lose. Futures are uncertain, but real value needs to stay high, or everything becomes devalued if Real Estate becomes devalued. Its the only thing of "real" value in a Fiat Economy. Our money isn't squat if it doesn't roll-back to some sort of real equity. And that simply...doesn't...exist...anymore.
Be afraid! And for the love of Pete, live within your means. As of now, you'll be forced to. And good luck. We're all going to need it.
I always have thank god...I don't even own a credit card...If I can't pay for something with cash...then I know I cant afford it...simple as that....at the end of the day somebody has to pay the bill of wracked up debt...just to say we have things...
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Da10th: Agree'd with every part, especially that last.
Absolutely, I agree with your agreement. Great post GB
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These are indeed very scary times we are living in.. I am lucky in that I own a home and am reasonably comfortable.. But still I worry, about my kids, my friends, and the reckless who won't heed the warnings and are still living beyond their means..
I know this sounds ominous.. but put your money away, and cut up your credit cards.. If you can't afford to buy it with cash.. You don't need it..
I know this sounds ominous.. but put your money away, and cut up your credit cards.. If you can't afford to buy it with cash.. You don't need it..
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Live simply, so that others may simply live. - Mohandas Gandhi
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ATM works as well.. Live and learn.. as you have.. Great advice.. 
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Galactic_bodhi: They were talking at one point of creating a cashless economy. Scared the hell out of me.
I don't trust computers, and I certainly don't trust banks.
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A cashless economy? Those words make me cringe.. Sorta like the 666 thing.....
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Galactic_bodhi: They were talking at one point of creating a cashless economy. Scared the hell out of me.
Yeah, cashless is scarey...
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Galactic_bodhi: They were talking at one point of creating a cashless economy. Scared the hell out of me.
Yeah, cashless is scarey...
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Sparky55: Yeah, cashless is scarey...
Its getting to the point where I cant buy a fare to work without a debit card. It's already starting.
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Galactic_bodhi: Its getting to the point where I cant buy a fare to work without a debit card. It's already starting.
Funny you should mention that. I had to pay for my gym membership with either debit or credit card. They would not take cash. Now that i think about it, that's pretty screwed up..
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I am a retired senior trying to live on a fixed income . I have not believed in credit cards for 20 years, i was taught to be in debt for material things and paying interest on expendable goods is the works of the devil. We have ben encouraged by our govt to use more credit and support our economy and it has destroyed our financial system. Washington has spent all of our OUR retirement money [ie;soc sec] and blames seniors for the problem. All soc. sec. has is a stack of false promises from our irresponsible politicians ,when the money should have ben spent on investment in american jobs [in the usa]. Now they want us to bail them out with credit While they look at all your savings to see what else they can steal from us ,so we can conserve by eating alpo. We need to seriously look at where we are headed before it is to late. What sane investor wants to take his money out of hiding for uncle sam to suck down the sewer pipe so he can start on his case of alpo. If we dont change soon the boston tea party will only get honorable mention next to the party thats comming .
While they look at all your savings to see what else they can steal from us ,so we can conserve by eating alpo. We need to seriously look at where we are headed before it is to late. What sane investor wants to take his money out of hiding for uncle sam to suck down the sewer pipe so he can start on his case of alpo. If we dont change soon the boston tea party will only get honorable mention next to the party thats comming .------ This thread is Archived ------
ziggysdad: I am a retired senior trying to live on a fixed income . I have not believed in credit cards for 20 years, i was taught to be in debt for material things and paying interest on expendable goods is the works of the devil. We have ben encouraged by our govt to use more credit and support our economy and it has destroyed our financial system. Washington has spent all of our OUR retirement money [ie;soc sec] and blames seniors for the problem. All soc. sec. has is a stack of false promises from our irresponsible politicians ,when the money should have ben spent on investment in american jobs [in the usa]. Now they want us to bail them out with credit While they look at all your savings to see what else they can steal from us ,so we can conserve by eating alpo. We need to seriously look at where we are headed before it is to late. What sane investor wants to take his money out of hiding for uncle sam to suck down the sewer pipe so he can start on his case of alpo. If we dont change soon the boston tea party will only get honorable mention next to the party thats comming .
Yep. They just raised taxes on beer. Not wine, not whiskey. Beer. Strictly to target the lower and middle class. Joe Six-Pack just got the shaft.
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I GOT RID of credit cards YEARS AGO! 
If i cant buy it, I dont need it, I dont try to live fancy to impress people , I live a simple life, and within my means, and AGREE with the above,
It Dont look good
Hi Lee
If i cant buy it, I dont need it, I dont try to live fancy to impress people , I live a simple life, and within my means, and AGREE with the above, It Dont look good
Hi Lee
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Sparky55: Funny you should mention that. I had to pay for my gym membership with either debit or credit card. They would not take cash. Now that i think about it, that's pretty screwed up..
every grocery store i've been to, has a "thank you" card {or something like it}...what's that all about?...i'll tell you...it's to get people used to using a card {or something else} instead of cash...get ready for a cashless society...and if you ask me...this economy failure was planned for a global currency...call me crazy or a consperacy nut but, the government and the powers that be have been pushing for one world government for a long time now...and they need something to get the people behind it....and an economical crash is just the thing to do it...all those "bad loans" was a government idea, to begin with....they want to skip the amero-dollar and go straite for the one world currency...which will, most likely, be on an account with an ID number...big brother is getting bigger every day...and there's nothing we can do about it...we've let it get too big 
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jlw45: every grocery store i've been to, has a "thank you" card {or something like it}...what's that all about?...i'll tell you...it's to get people used to using a card {or something else} instead of cash...get ready for a cashless society...and if you ask me...this economy failure was planned for a global currency...call me crazy or a consperacy nut but, the government and the powers that be have been pushing for one world government for a long time now...and they need something to get the people behind it....and an economical crash is just the thing to do it...all those "bad loans" was a government idea, to begin with....they want to skip the amero-dollar and go straite for the one world currency...which will, most likely, be on an account with an ID number...big brother is getting bigger every day...and there's nothing we can do about it...we've let it get too big
Who let you in here.
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Galactic_bodhi: Who let you in here.
the question should be....who let me out?....
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One never knows JLW. We'll see soon enough. Hopefully you're way off base...
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Created: Feb 2009
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For many years now we haven't been afraid enough. WTF are people thinking buying a house on the income of, say, a burger-flipper? The very idea should scare the hell out of any sensible human. We can barely make rent, let alone a mortgage.
So, who put the blinders on our fear? Was it a society that condones debt, up to and including death-debt? That's what mortgage means: Death Promise. A mortgage is like marriage, until death do you part. Literally.
So, now what? Live in an apartment again? We'll be lucky if we aren't homeless. This isn't like credit card debt. Written off every seven year cycle. No, this is secured debt. With heavy losses involved in the equity. And heavy black marks on your credit score.
That means we all lose. Futures are uncertain, but real value needs to stay high, or everything becomes devalued if Real Estate becomes devalued. Its the only thing of "real" value in a Fiat Economy. Our money isn't squat if it doesn't roll-back to some sort of real equity. And that simply...doesn't...exist...anymore.
Be afraid! And for the love of Pete, live within your means. As of now, you'll be forced to. And good luck. We're all going to need it.