they were before bush,,,now we got all these people getting expensive degrees that dont see a payoff in the workplace...and no way to get out of the student loans,,,even though everyone is taught from kindergarten that a college degree is necessary to get anywhere...
student loans are now bigger than credit card bills...sooner or later,,,theyre going to let people bk these again... bk is a safety valve,,,and weve got millions of people in a tight spot,,, with no economic recovery in sight...
theyre going to have to take the pressure off the student loan people,,,no way around it...
buyer who was fed a bunch of rosy cheerleading from kudlow and greenspan...
the housing bubble was created by the big guy,,,not the little guy,,,they got all these developments going and convinced the suckers to buy,,,buy,,,buy... because housing always goes up....
thats like me telling you to buy my car because its great and a great value,,,and when it turns out to be a lemon,,,i say,,,well it was your fault for listening to me in the first place...you should have known that i lie
some of you cant accept that the little guy got taken for a ride because you have this ---work and pay your bills ethic--- that lets very rich people get over on the lower classes... if you start saying that ---work and pay your bills--- isnt always an ironclad moral obligation,,,you lose faith in your entire belief system and your great love of capitalism is on thin ice...
bk all these cornfield houses,,,and let the scumballs push them back on the market at proper valuations... there is no sense in paying down a 250K note on a house worth maybe 90K just because the system fed you a moral code that keeps you working for them... if a big company was buying a company for 250 million that was now worth only 90 million,,,the arm of the company that was the buyer would be a separate incorporated company,,,and it would go into chapter 13 immediately to work out a restructuring of the outstanding obligation to buy the overvalued company...
Student loans are non bankrupt-able.
I wasn't fed rosy anything from anyone.
The little guy was the one buying these ridiculously priced homes for 0 down and taking on way more debt than they could afford.
Everyone knows car salesmen lie. It's the buyers responsibility to do their due diligence on any thing they purchase. So it is the buyers fault.
I have this damn work and pay my bills ethic your talking about! Only thing is my only debt is on my house. I own my car and plan on buying another this year with cash. My moral obligation that makes capitalism work for me is to stay within my budget and only buy what I can pay cash for.
I completely disagree with this entire statement! Just because someones house has dropped in value does not mean they can't afford to still make the payment they agreed to.
If this were the case every new car sold in America would be returned to the "scumbag" car salesmen the following day since they dropped in value when they were drove off the lot.
Oh and some of us were smart and did lots of research before buying a home. We have owned our home for a little over a year now and have 30K in equity. So I have no pity for anyone upside down in a home they shouldn't have bought in the first place.
We refuse to take part in this recession in our house hold and our income has went up the last 2 years.
When the twin theories of sociology and psychiatry became "SCIENCES" our society was doomed.
These twin "sciences" are devoted to the notion that you are not responsible for your bad actions/decisions.
Sociology teaches that it isn't our fault because others brainwashed us into behaving the way we do.
Psychology teaches us that it isn't our fault because our neurobiology, coupled with our environment, won't allow us to do anything else.
.
You don't know what you're talking about.
You have narrowed these two disciplines to the point of absurd in order to grind your strange axe.
Everytime I look around there are more houses and commercial property being built. It seems like they might need to start regulating the building of these. I know it will hurt the construction industry- but with so many empty why can we fill these instead of just making more.
Everytime I look around there are more houses and commercial property being built. It seems like they might need to start regulating the building of these. I know it will hurt the construction industry- but with so many empty why can we fill these instead of just making more.