"Economic Populism" hits America economic downturn could become depression

[MsFancyPants]

I think a lot of you really, really need to go outside, take a deep breath and enjoy the fact that you're still healthy and alive and forget about the sky falling for a while.

I couldn't live like that, honestly. All gloom and doom ALL THE FREAKING TIME!! Sheesh.

/rant off.

[MikeJaquish]

Originally Posted by rrufast

Let me think..

I calculated my ability to pay XX amount for a monthly mortgage. I researched and identified a home that was within my price range not only at that time, but one that I could afford shoudl either my wife or I find ourselves staring at the face of unemployment. I am in the same home 5 years later and have garnered good equity as I bought on the low side of the market 5 years ago.

For my diligence, I am now faced with the fact that I could very well have to pay higher mortgage rates should I decide to sell, or buy another home within the next many months, or year even.

BUT, the person who was, and let's call a spade a spade, FOOLISH enough to sign up for some ridiculously low tiered mortgage with high level resets (ARM) suddenly realizes that they can't afford their home? Well, color me purple and call me stupid... HELLO.. they couldn't afford the home in the FIRST PLACE and now *I* am held accountable for THEIR actions.

The government has NO BUSINESS trying to disprove what PT Barnum said many years ago about a fool and his money. Let the market shakeup do what it is going to do. Allow people with the financial means to soak up a good part of the foreclosures, possibly creating a decent rental market for those who obviously could not truly afford to buy a home, or at least a home the scale at which they bought, and let's move on.

I'm sick and tired of seeing more and more of my hard earned $$ go to subsidies/bailouts that benefit those most undeserving..

Rant off.

I disagree.

I think it was not old P. T. who said, "A Fool and His Money are soon Parted."
And I am willing to disprove it.

I believe P. T. gets even more credit for having said, "There's a Sucker born every Minute."
And that credit, too, is inaccurately assigned.

Whew.
Hard part done.

We now return you to your favorite bailout programming.

[ronaldemail1]

Politicians should stop printing money. Real money will keep everybody honest and the real estate market
destroyed for decades as it should be due to the actions of previous administrations.

[wmweeza]

Well since these posts were from 2009...it didn't happen