Home foreclosure filings up 55 percent in July

[tiznow]

the outsourcing is what allowed us to continue to have all these cheap goods and party for a little while longer

regulation isn't the solution

getting back to fiscally responsible principles, spending within your means is, and balancing the risk/reward when it comes to taking on debt is the solution....as we can tell from our government they aren't interested in that......when shit hits the fan just throw more debt at the problem when that was what got us in the situation to begin with

all china outsourcing did was buy us a little more time to have a party a little while longer than we should have as we had the chinese making our shit for cheaper

the world gonna go down the tubes with us they depended on us....china depends on our consumption....many countries depend on the elevated commodity prices it created.....it was all symbotic

 

[tiznow]

these problems take care of themselves willie in the free markets....i mean its not gonna be fun times for a while....but the system needs a flushing out the world had its fun/party

time to pay the piper for the unsustainable boom

if the world isn't consuming as much cheap gadgety shit anymore than jobs won't keep flowing over to china

everybody screaming about government to do something about high oil

only reason oil is high is because the world at large can't afford to pay the high prices.....consumption/demand is too high

therefore over time the free markets will consume less and prices will fall to a level in which is a sustainable price for economic growth

all this bickering about government do this do that is nonsense....all they can do at this point is get in the way of letting the free markets find some balance, some price discovery to the downside, to where it should be in this new environment....where we finally are forced into a corner and forced to spend and consume based on what we earn....not based on what we can ring up on debt

rebate checks and bailing out housing only keeps the prices of oil and other things elevated and is doing so by creating more debt for you and I.....its not fixing anything its actually making the situation worse by using BAD debt to prop up prices that naturally need to fall to come back in sync with wages

 

[DarrylParsons]

The pyramid scheme otherwise known as the world economy is running out of layers to add to the bottom to prop everyone else up. And we all know what happens to pyramid schemes when there are no more new recruits ...

 

[tiznow]

exactly DP well said without all the tizgloomy long drawn out ranting LOL

although right now its not necessarily about recruits....the fact is they don't have the tools to recruit right now...the debt bait laid by banks

since they are searching for cash and have been left holding the bag of many a deflating home etc...

we'll see if they find more recruits once the banks get their house back in order.....but many past recruits are walking away from debts ruining their credit for 7 years or so.... they won't be coming back for another fix or will be able to for quite some time

 

[tiznow]

honestly it amazes me that they (the powers that be) are letting people get off the hook so easily

i mean at this point if you are way underwater in a home and have CC bills up to the gills

you can either

A. be a slave to debt the rest of you living life continuing to pay the ever increasing bills

B. walk away, lick your wounds, take whatever money you have left, and just not be able to take on credit for a while

with no criminal prosecution or whatever.....really surprised they letting them off the hook so easily and what they leave behind is the banks headache to deal with

 

[DarrylParsons]

Tizzy, the powers that be need the grunts to work, not sit around in jail cells.

 

[tiznow]

very true

and all of us (the taxpayer regardless if you participated in the madness or not) in the end are left cleaning up the mess

 

[barman]

Tizzy, the powers that be need the grunts to work, not sit around in jail cells.

Correctomundo.

Not only do we have at least one million Americans behind bars who are no threat to public safety or security, we have another 100,000+ jail and prison guards who themselves are contributing little or nothing to benefit the economic community.

 

[Mistermj]

You're playing games with raw numbers. Gee Bush "took in" more tax revenue in 2006 than Clinton did in 1996. Well I would hope so.

No games...the debt burden is less.

And I thought part of the argument was that the economy was so much worse under Bush anyway? :think2: