[quote=Allan from Fallbrook][quote=UCGal]He drank the kool-ade. He should have known better. I have some emotional sympathy, but no rational sympathy. (Not sure if that makes sense to you all, but it does to me.)
Having read the article – I was struck by how much the wife expected him to somehow magically make it all better. As a wife, I don’t get that attitude… How could she have abdicated her part in the financial mess?
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UCGal: Don’t you think this entire country has been seized by “magical” thinking and for a while now? We were all going to get rich on the internet during the dot.bomb era. Then our houses were going to appreciate ad infinitum and provide limitless supplies of money.
Then, when the feces hit the rotary oscillator, Obama and the gubment were going to save us and hit the “reset” button. You know, the one that magically would preserve our standard of living, keep housing values inflated, and keep the money spigot flowing.
Granted, this author certainly should have known better, but, in truth, the average American consumer has been fed so much BS for so long, we’re no longer able to discern any sort of objective reality.
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I agree Allan. Lots of people drank the koolade – including our leaders. I have a few coworkers who are in deep doo-doo… bought nice CV homes on a single income (stay at home wife), interest only loans, HELOCS to put in pools… On the same salary as mine. I know I couldn’t afford it…. but they had/have the feeling that since everyone around them was doing the same thing.
I shook my head when they bought… and wondered what I was missing in the math. I feel bad for them, emotionally, but don’t get how they justified it to themselves, rationally.
