Enough is Enough…The Bottom Line

[citydweller]

Contraman,
Very, very well said! Thank you.

Although I find the thought of an economic crash somewhat frightening (fear of the unknown), I too tend to believe that we need one to “reset peoples value systems”.

It’s almost like watching a drug addict’s rapid decline and knowing that not until they hit bottom will they admit they have a problem that needs correcting.

[bob007]

i have friends who are liberal democrats. They are well educated. They do not approve of this irresponsible behavior by home buyers.

[bob007]

i have friends who are liberal democrats. They are well educated. They do not approve of this irresponsible behavior by home buyers.

[bob007]

i have friends who are liberal democrats. They are well educated. They do not approve of this irresponsible behavior by home buyers.

[guitar187]

Well you only get taxed on your earnings. And all these “dumb” people have created nothing but opportunity after opportunity to make money. If you are so sure of a “value crisis” then put your money where your mouth is.

God bless them “dumb” people. 🙂

[guitar187]

Well you only get taxed on your earnings. And all these “dumb” people have created nothing but opportunity after opportunity to make money. If you are so sure of a “value crisis” then put your money where your mouth is.

God bless them “dumb” people. 🙂

[guitar187]

Well you only get taxed on your earnings. And all these “dumb” people have created nothing but opportunity after opportunity to make money. If you are so sure of a “value crisis” then put your money where your mouth is.

God bless them “dumb” people. 🙂

[SHILOH]

I suppose Bush could say that about buyers to set us up to feel sorry for their “ignorance” about what they were getting into. Add that to the RE CEOs not having a clue either. I don’t think either is believable. Buyers banked on an upward trend w/o understanding the risk – maybe. But RE CEOs…their qualifications are sorely lacking if they couldn’t see what was being set up. What use is a CEO who so clearly lacks knowledge and leadership? This is a masquerade to cry to the GOV to float the whole mess, and pay for their big hysteria party.

“Housing market collapse should not surprise anyone
Some industry leaders turn a blind eye to past trends”
By RACHEL BECK, (AP)
NEW YORK – “Century 21 Real Estate CEO Thomas Kunz may have unintentionally hit the nail on the head when he declared that a “pity party” is gripping the housing industry right now.
Many recent home buyers are expressing shock that their properties might be worth a lot less than when they bought them. CEOs like Countrywide Financial Corp.’s Angelo Mozilo are claiming that “nobody saw” the deterioration of real estate values coming, and are pointing fingers at others for causing this mess. And Wall Street seems to only now be waking up to the implications of mortgage securities imploding.”

FROM: http://www.theeagle.com/stories/080507/business_20070805002.php?ref=patrick.net

[SHILOH]

I suppose Bush could say that about buyers to set us up to feel sorry for their “ignorance” about what they were getting into. Add that to the RE CEOs not having a clue either. I don’t think either is believable. Buyers banked on an upward trend w/o understanding the risk – maybe. But RE CEOs…their qualifications are sorely lacking if they couldn’t see what was being set up. What use is a CEO who so clearly lacks knowledge and leadership? This is a masquerade to cry to the GOV to float the whole mess, and pay for their big hysteria party.

“Housing market collapse should not surprise anyone
Some industry leaders turn a blind eye to past trends”
By RACHEL BECK, (AP)
NEW YORK – “Century 21 Real Estate CEO Thomas Kunz may have unintentionally hit the nail on the head when he declared that a “pity party” is gripping the housing industry right now.
Many recent home buyers are expressing shock that their properties might be worth a lot less than when they bought them. CEOs like Countrywide Financial Corp.’s Angelo Mozilo are claiming that “nobody saw” the deterioration of real estate values coming, and are pointing fingers at others for causing this mess. And Wall Street seems to only now be waking up to the implications of mortgage securities imploding.”

FROM: http://www.theeagle.com/stories/080507/business_20070805002.php?ref=patrick.net

[SHILOH]

I suppose Bush could say that about buyers to set us up to feel sorry for their “ignorance” about what they were getting into. Add that to the RE CEOs not having a clue either. I don’t think either is believable. Buyers banked on an upward trend w/o understanding the risk – maybe. But RE CEOs…their qualifications are sorely lacking if they couldn’t see what was being set up. What use is a CEO who so clearly lacks knowledge and leadership? This is a masquerade to cry to the GOV to float the whole mess, and pay for their big hysteria party.

“Housing market collapse should not surprise anyone
Some industry leaders turn a blind eye to past trends”
By RACHEL BECK, (AP)
NEW YORK – “Century 21 Real Estate CEO Thomas Kunz may have unintentionally hit the nail on the head when he declared that a “pity party” is gripping the housing industry right now.
Many recent home buyers are expressing shock that their properties might be worth a lot less than when they bought them. CEOs like Countrywide Financial Corp.’s Angelo Mozilo are claiming that “nobody saw” the deterioration of real estate values coming, and are pointing fingers at others for causing this mess. And Wall Street seems to only now be waking up to the implications of mortgage securities imploding.”

FROM: http://www.theeagle.com/stories/080507/business_20070805002.php?ref=patrick.net

[Allan from Fallbrook]

Bob: I had friends who were liberal democrats, too! But I shot them all and buried them in my backyard!

Kidding. However, one issue that really needs to be dealt with in this country is the absolute lack of leadership from either the Republicans or the Democrats regarding fiscal policy and restraint. Greenspan (and now Bernanke) and the FED have been running this country for 18+ years with literally no meaningful oversight from either the President or Congress.

No one on either side of the aisle in Congress or in the Executive Office wants to cowboy up and tell the American people some hard truths: We have pissed away our economic independence through truly bad monetary decisions, we are no longer a creditor nation, we are no longer a manufacturing powerhouse and we have progressively destroyed the middle class over the last thirty years.

This is the “third rail” of American politics and, with the exception of Ron Paul in the recent debates, not one candidate in either party has had the stones to step up and speak the truth.

While I count myself as a conservative Republican, their behavior has been just as unconscionable and reprehensible as the Dems.

This country truly needs an enema (economically speaking) and the average American needs to understand that sometimes not every one of your avaricious little whims is going to be met and your egocentric, narcissistic little life comes with both costs and responsibilities.

[Allan from Fallbrook]

Bob: I had friends who were liberal democrats, too! But I shot them all and buried them in my backyard!

Kidding. However, one issue that really needs to be dealt with in this country is the absolute lack of leadership from either the Republicans or the Democrats regarding fiscal policy and restraint. Greenspan (and now Bernanke) and the FED have been running this country for 18+ years with literally no meaningful oversight from either the President or Congress.

No one on either side of the aisle in Congress or in the Executive Office wants to cowboy up and tell the American people some hard truths: We have pissed away our economic independence through truly bad monetary decisions, we are no longer a creditor nation, we are no longer a manufacturing powerhouse and we have progressively destroyed the middle class over the last thirty years.

This is the “third rail” of American politics and, with the exception of Ron Paul in the recent debates, not one candidate in either party has had the stones to step up and speak the truth.

While I count myself as a conservative Republican, their behavior has been just as unconscionable and reprehensible as the Dems.

This country truly needs an enema (economically speaking) and the average American needs to understand that sometimes not every one of your avaricious little whims is going to be met and your egocentric, narcissistic little life comes with both costs and responsibilities.

[Allan from Fallbrook]

Bob: I had friends who were liberal democrats, too! But I shot them all and buried them in my backyard!

Kidding. However, one issue that really needs to be dealt with in this country is the absolute lack of leadership from either the Republicans or the Democrats regarding fiscal policy and restraint. Greenspan (and now Bernanke) and the FED have been running this country for 18+ years with literally no meaningful oversight from either the President or Congress.

No one on either side of the aisle in Congress or in the Executive Office wants to cowboy up and tell the American people some hard truths: We have pissed away our economic independence through truly bad monetary decisions, we are no longer a creditor nation, we are no longer a manufacturing powerhouse and we have progressively destroyed the middle class over the last thirty years.

This is the “third rail” of American politics and, with the exception of Ron Paul in the recent debates, not one candidate in either party has had the stones to step up and speak the truth.

While I count myself as a conservative Republican, their behavior has been just as unconscionable and reprehensible as the Dems.

This country truly needs an enema (economically speaking) and the average American needs to understand that sometimes not every one of your avaricious little whims is going to be met and your egocentric, narcissistic little life comes with both costs and responsibilities.

[bsrsharma]

2008 will not be low-turnout election year. If this economic crisis reaches its peak by summer 2008, it will be one whopper of change election. At least those feeling bad about low turnouts in elections can celebrate!

[bsrsharma]

2008 will not be low-turnout election year. If this economic crisis reaches its peak by summer 2008, it will be one whopper of change election. At least those feeling bad about low turnouts in elections can celebrate!

[Author]

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