Just stop paying your mortgage

[Arraya]

“Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend, and step off before it is discredited.” (George Soros)

[peterb]

You owe the bank $50K, it’s your problem. If you owe the bank $500M, it’s the banks problem. He’s just pointing our how scared the banks are and should be. People negotiate when they’re scared. Doesnt mean you’ll get a good deal, though.

Arraya’s quote from Soro’s is for the ages!!! Dead on!! It certainly has worked for me.

[peterb]

You owe the bank $50K, it’s your problem. If you owe the bank $500M, it’s the banks problem. He’s just pointing our how scared the banks are and should be. People negotiate when they’re scared. Doesnt mean you’ll get a good deal, though.

Arraya’s quote from Soro’s is for the ages!!! Dead on!! It certainly has worked for me.

[peterb]

You owe the bank $50K, it’s your problem. If you owe the bank $500M, it’s the banks problem. He’s just pointing our how scared the banks are and should be. People negotiate when they’re scared. Doesnt mean you’ll get a good deal, though.

Arraya’s quote from Soro’s is for the ages!!! Dead on!! It certainly has worked for me.

[peterb]

You owe the bank $50K, it’s your problem. If you owe the bank $500M, it’s the banks problem. He’s just pointing our how scared the banks are and should be. People negotiate when they’re scared. Doesnt mean you’ll get a good deal, though.

Arraya’s quote from Soro’s is for the ages!!! Dead on!! It certainly has worked for me.

[peterb]

You owe the bank $50K, it’s your problem. If you owe the bank $500M, it’s the banks problem. He’s just pointing our how scared the banks are and should be. People negotiate when they’re scared. Doesnt mean you’ll get a good deal, though.

Arraya’s quote from Soro’s is for the ages!!! Dead on!! It certainly has worked for me.

[Arraya]

Peterb- The question I think everybody needs to ask is not whose fault it was but why it was mandated by our political and financial system? The precision at which all mechanisms were greased to allow it to happen is staggering when you think about it. As Soros points out “episodes based on falsehoods” are created. Do we think these falsehoods created themselves? Is it just natural human delusion, irrational exuberance as “The Maestro” points out or possibly are those delusional tendencies stoked by people who know better for a purpose? If you answer ‘NO’ to the “Do we think these falsehoods create themselves”, you find yourself in the ranks of the babbling paranoid, which is where I dwell these days.

IMO, All you need to do is follow the money right to China along with Paulson’s 60 or so trips in the last year. Ironically, this is the guy who lobbied (behind the scenes) so hard to rid the banking industry of the pesky Glass-Segall act and who sold toxic investment vehicles to government pension funds for years. But we love coincidences and incompetence and hate conspiracies because conspiracies are ridiculous. Or maybe just coincidences and incompetence are “created falsehoods” as Soros puts it. If so, they need to be discredited.

[Arraya]

Peterb- The question I think everybody needs to ask is not whose fault it was but why it was mandated by our political and financial system? The precision at which all mechanisms were greased to allow it to happen is staggering when you think about it. As Soros points out “episodes based on falsehoods” are created. Do we think these falsehoods created themselves? Is it just natural human delusion, irrational exuberance as “The Maestro” points out or possibly are those delusional tendencies stoked by people who know better for a purpose? If you answer ‘NO’ to the “Do we think these falsehoods create themselves”, you find yourself in the ranks of the babbling paranoid, which is where I dwell these days.

IMO, All you need to do is follow the money right to China along with Paulson’s 60 or so trips in the last year. Ironically, this is the guy who lobbied (behind the scenes) so hard to rid the banking industry of the pesky Glass-Segall act and who sold toxic investment vehicles to government pension funds for years. But we love coincidences and incompetence and hate conspiracies because conspiracies are ridiculous. Or maybe just coincidences and incompetence are “created falsehoods” as Soros puts it. If so, they need to be discredited.

[Arraya]

Peterb- The question I think everybody needs to ask is not whose fault it was but why it was mandated by our political and financial system? The precision at which all mechanisms were greased to allow it to happen is staggering when you think about it. As Soros points out “episodes based on falsehoods” are created. Do we think these falsehoods created themselves? Is it just natural human delusion, irrational exuberance as “The Maestro” points out or possibly are those delusional tendencies stoked by people who know better for a purpose? If you answer ‘NO’ to the “Do we think these falsehoods create themselves”, you find yourself in the ranks of the babbling paranoid, which is where I dwell these days.

IMO, All you need to do is follow the money right to China along with Paulson’s 60 or so trips in the last year. Ironically, this is the guy who lobbied (behind the scenes) so hard to rid the banking industry of the pesky Glass-Segall act and who sold toxic investment vehicles to government pension funds for years. But we love coincidences and incompetence and hate conspiracies because conspiracies are ridiculous. Or maybe just coincidences and incompetence are “created falsehoods” as Soros puts it. If so, they need to be discredited.

[Arraya]

Peterb- The question I think everybody needs to ask is not whose fault it was but why it was mandated by our political and financial system? The precision at which all mechanisms were greased to allow it to happen is staggering when you think about it. As Soros points out “episodes based on falsehoods” are created. Do we think these falsehoods created themselves? Is it just natural human delusion, irrational exuberance as “The Maestro” points out or possibly are those delusional tendencies stoked by people who know better for a purpose? If you answer ‘NO’ to the “Do we think these falsehoods create themselves”, you find yourself in the ranks of the babbling paranoid, which is where I dwell these days.

IMO, All you need to do is follow the money right to China along with Paulson’s 60 or so trips in the last year. Ironically, this is the guy who lobbied (behind the scenes) so hard to rid the banking industry of the pesky Glass-Segall act and who sold toxic investment vehicles to government pension funds for years. But we love coincidences and incompetence and hate conspiracies because conspiracies are ridiculous. Or maybe just coincidences and incompetence are “created falsehoods” as Soros puts it. If so, they need to be discredited.

[Arraya]

Peterb- The question I think everybody needs to ask is not whose fault it was but why it was mandated by our political and financial system? The precision at which all mechanisms were greased to allow it to happen is staggering when you think about it. As Soros points out “episodes based on falsehoods” are created. Do we think these falsehoods created themselves? Is it just natural human delusion, irrational exuberance as “The Maestro” points out or possibly are those delusional tendencies stoked by people who know better for a purpose? If you answer ‘NO’ to the “Do we think these falsehoods create themselves”, you find yourself in the ranks of the babbling paranoid, which is where I dwell these days.

IMO, All you need to do is follow the money right to China along with Paulson’s 60 or so trips in the last year. Ironically, this is the guy who lobbied (behind the scenes) so hard to rid the banking industry of the pesky Glass-Segall act and who sold toxic investment vehicles to government pension funds for years. But we love coincidences and incompetence and hate conspiracies because conspiracies are ridiculous. Or maybe just coincidences and incompetence are “created falsehoods” as Soros puts it. If so, they need to be discredited.

[patientrenter]

arraya,

I only post late at night, so I apologize if this response to your post is repetitive – I can’t recall the last late-night ‘conversation’ I had with you.

Picking on Paulson or some other financial intermediaries as the root cause of this mess is probably not correct. I think history will show that it was millions upon millions of homeowners who wanted to ‘save’ for retirement using a free lunch method – borrowing other people’s money and using it to buy assets that only increase in price – that drove the madness of the last 5 years.

In truth, I think baby boomers looking for the free lunch way to save for retirement are the root cause of our repeated asset price bubbles in the last 10 years. Unfortunately, they are a big enough group to vote the Congress that accommodates them, and the Administration that accommodates them. All the other groups (mortgage brokers, investment bankers, regulators, real estate agents, stockbrokers etc.) are just following the money incentives to please the boomers.

I could be wrong, but I think we’ll only know for sure when history is written 20 or more years from now.

[patientrenter]

arraya,

I only post late at night, so I apologize if this response to your post is repetitive – I can’t recall the last late-night ‘conversation’ I had with you.

Picking on Paulson or some other financial intermediaries as the root cause of this mess is probably not correct. I think history will show that it was millions upon millions of homeowners who wanted to ‘save’ for retirement using a free lunch method – borrowing other people’s money and using it to buy assets that only increase in price – that drove the madness of the last 5 years.

In truth, I think baby boomers looking for the free lunch way to save for retirement are the root cause of our repeated asset price bubbles in the last 10 years. Unfortunately, they are a big enough group to vote the Congress that accommodates them, and the Administration that accommodates them. All the other groups (mortgage brokers, investment bankers, regulators, real estate agents, stockbrokers etc.) are just following the money incentives to please the boomers.

I could be wrong, but I think we’ll only know for sure when history is written 20 or more years from now.

[patientrenter]

arraya,

I only post late at night, so I apologize if this response to your post is repetitive – I can’t recall the last late-night ‘conversation’ I had with you.

Picking on Paulson or some other financial intermediaries as the root cause of this mess is probably not correct. I think history will show that it was millions upon millions of homeowners who wanted to ‘save’ for retirement using a free lunch method – borrowing other people’s money and using it to buy assets that only increase in price – that drove the madness of the last 5 years.

In truth, I think baby boomers looking for the free lunch way to save for retirement are the root cause of our repeated asset price bubbles in the last 10 years. Unfortunately, they are a big enough group to vote the Congress that accommodates them, and the Administration that accommodates them. All the other groups (mortgage brokers, investment bankers, regulators, real estate agents, stockbrokers etc.) are just following the money incentives to please the boomers.

I could be wrong, but I think we’ll only know for sure when history is written 20 or more years from now.

[patientrenter]

arraya,

I only post late at night, so I apologize if this response to your post is repetitive – I can’t recall the last late-night ‘conversation’ I had with you.

Picking on Paulson or some other financial intermediaries as the root cause of this mess is probably not correct. I think history will show that it was millions upon millions of homeowners who wanted to ‘save’ for retirement using a free lunch method – borrowing other people’s money and using it to buy assets that only increase in price – that drove the madness of the last 5 years.

In truth, I think baby boomers looking for the free lunch way to save for retirement are the root cause of our repeated asset price bubbles in the last 10 years. Unfortunately, they are a big enough group to vote the Congress that accommodates them, and the Administration that accommodates them. All the other groups (mortgage brokers, investment bankers, regulators, real estate agents, stockbrokers etc.) are just following the money incentives to please the boomers.

I could be wrong, but I think we’ll only know for sure when history is written 20 or more years from now.

[Author]

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