Say what???
Kirby-you and I agree on some things, and your comment on my post below did not fall on deaf ears. I don't fully agree or understand the bank lending racist card. But I can grasp greed and lack of morals. Everyone is subject to it on some level-whether big or small. Now, MY OPINION, is the majority of banks, lenders, mortgage folks and investors KNEW shit was not right and KNEW it was a get in and out scheme. I'm no market analyst, but I do know that it runs in cycles just as much as I know people on ALL levels were lacking ANY common sense...
I know because I was right in there.
Folks telling me, "Just do stated income-you'll be able to get a house", or "You need a house", or "Real Estate will keep going up-we live in a desireable area".
Their fault?
Nope.
Mine.
I accept MY responsibility (or lack there-of). But many, many folks on BOTH sides of the equation we are now staring down-do not.
I mean, come on...could you have afforded the house before? Did you know, really, what the cost was? Will you have a job, or if not, will you still be able to pay your mortgage?
What's scaring me the most is it all seems as simple (and also uneducated) as a 5 year old's mentality to just "get more money out of the ATM". The whole, "My bad, now can I have a do-over?"
So we are going to pay these folks that screwed up royally (Frannie, Freddie, Chase, WAMU, et. al)-these people that already MADE money on the ordeal--I am talking about the executives and folks in charge-who not only had to know (based on all that schoolin' and degrees)-yet also gave themselves bonuses and perks and retirements packages in the millions??? How is it that they are NOT going to be charged, just like Enron? Shit goes both left and right my friend. (And don't even get me started on republicans and their agenda to invade everyone's personal life-see wire tapping and freedom of speech/censureship of current administration, cut taxes while spending 800x more, and generally leading us into an Orwellian/religious based state.)
Here's one for you republicans---
How do you cut revenue (taxes), spend more than ever imagined (that includes those whopping $3000 or so tax rebate checks we received in the past 2 years), and not have a deficit?...Somebody smarter than me-please explain.
I don't see much in the way of helping the other end out. And I'm not talking about folks that put no money down, refinanced to buy SUVs and Flat screens, or got into a house they KNEW they could never afford.
I'm talking about folks that put money down (one way or another), have made their payments. Not refinanced to buy toys.
Granted I have no idea how to make it work. We were just as foolish to buy a house for $400,000 when 2 years prior it was $200,000.
I just wish someone with a big ol' brain could show me how the common, middle class sap is gonna be helped out.
Cause I'm that middle class sap, and I don't want to be paying for all this...forever.
I'm rambling like a crazy coot, but this whole thing stinks on so many levels, I can't even begin to sort it out. For my part, I'm sticking to what I know I have some control over, I'll keep paying my bills as long as I have a job and most importantly I'll keep my focus on me, my son and our health...
2 comments:
Here’s one for you Republicans….remember at least with me I’m a conservative not a Republican. Now that I got that out of the way I agree with you on so many levels. I almost think we should enter a depression and start over by letting these financial institutions go broke, but what would that mean…I really don’t know. The way I’m looking at it is our economy is crashing, and is a $700 billion dollar bailout going to solve it? I’m thinking not, it’s only going to slow down the impact. I’m sure today our government is making that decision for us. Yes, they like to make these decisions on Saturdays so we cannot call our senators and tell them how we feel. I hope I’m wrong but when Monday comes around, and if they have done something with this bailout, that will only prove how chicken s*?# our government really is with the American people. Both parties are playing politics, and it sucks!
I know this sounds mean but people who took mortgages they cannot afford should not be bailed out. Banks who wrote bad mortgages should not be bailed out. People who spend too much money need to deal with their issues and not look to the government. The government needs to get the hell out of small businesses way and let Americans do what they do best….build businesses and jobs, and build financial freedom for themselves and their employees. People learn more from their mistakes and sometimes by failing flat on their faces. If you never fall down because of your bad decisions in life you’ll never grow as a person. Why do we always talk about our grandparents and how smart, calm, and cool they were? Because they knew what is was like to have everything taken away and what it took to rebuild it. People today think they are entitled to everything (owning a home, a nice car, trips, and stuff). No one is entitled to anything, you need to earn it and work for it.
I have a hard time with government always wanting to boost up unemployment. We need to cut taxes to the small business so they (including myself) can grow and employee the people who need jobs. We have a huge problem in the US with people living on government programs. This is one area I now from first hand. I deal with it daily.
Remember what I had you work on for me a year and half ago? It was an expansion project that could have employed 10 or more people in the first year. Yes I know 10 is not a huge number but it is something, and there are a lot of other small businesses that could add to that number. But it has been derailed and one reason is payroll and corporate taxes are through the roof, and Obama wants to increase it. Employees don’t realize how much they really cost a company. Everyone looks at their wage and sometimes their benefits and they think that’s it. Wrong. In one month I pay over $2500 in payroll tax which is $30,000 dollars a year. Just on payroll taxes! I’ll spare you my rage on corporate taxes. So what makes raising these taxes a good idea? You will see more people out of work if that happens including people in my company and possible the company. Crazy!
As for spending (Dem. or Rep.) they both suck right now. Spending is out of control. We have a congress that has the lowest approval rating in history. Our President has made some very serious mistakes during his term. What do we do? We don’t count on the government and we do things for ourselves.
Kirby-
I'm not for raising taxes, but how do you cover the money that you are spending (out of control)?
2 Wars, one of which I can at least somewhat support (and please do not think that is Iraq).
Tax cuts to the rich, corporations and even piss-ant "tax rebates" to poor schleps like me--all money OUT of the coffer.
I too am a small (very, very very small) businessman. My overhead is nothing. I have no employees. I pay taxes. Taxes that are abnormally high compared (in terms of scale/percentage) to rich folks, corporations, etc. I pay them though. Have to. Our country was based on that principle (IMHO)
I am not for more government hand-holding either.
But I do hold them accountable for how they spend MY money (taxes). I (and MANY others) did not support the invasion of Iraq.
What do we pay for that? BILLIONS a month. To a failed war.
Not to education.
Not to support our economy.
Not for health insurance (either individual OR government supported)
Couple that with Tax cuts for our corporations that follow the same deficit spending model of not only our government, but also our individual selves---where is the money suppose to come from?
Borrowing from our children seems to be the answer.
Scary.NOT something I can support.
What can I do though? On a DAILY, INDIVIDUAL level?
Work hard
Pay Taxes
Pay Bills
Spend time with family and friends
Spend less
Save more (even 1¢ a day is saving)
Redefine wants, needs, and privileges (I am VERY bad at that)
Vote
I am totally open to any suggestions too...
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