Stock Market Crash

[benheck]

I will say this is the first time since I've been old enough to vote that I plan not to, or vote 3rd party.

At least on paper, or ads, there appears to be no difference between the candidates. Of course all that will change when one of them wins, but for now they're just filling us with BS to get votes. All that will change is which deep-pockets special interest groups get control of Washington.

The bailout is a good example of why the government is really full of it. People who voted NO are saying they're listening to their districts, the people who voted them to power. Which is what they SHOULD be doing, but they're only doing it now to get re-elected. Had this occurred a year ago the bill would have been passed already.

The politics of fear are hard at work - all the same rhetoric was being thrown around for the Patriot Act and Iraq war - "dire consequences", "security of America" blah blah... In this case it's probably actually more true (money>everything else) but still, it's a fear vote.

Every day that passes without this bill passing is a good thing - Wall Street will continue to adjust allowing PRIVATE COMPANIES to eat up the bad ones - which they should, instead of the government.

What no candidate will say is that it's AMERICANS fault for getting loans they couldn't afford. But of course no candidate can say that, they have to blame "CEO Millionaires" and "evil companies". Nobody put a gun to anyone's head and said "Sign this interest-only ARM loan or die!" If they were too stupid to read the fine print they deserve to lose their house and the bank deserves to loose their investment.

The root problem is our generation (X, Y whatever) is the first to NOT have a higher standard of living then our parents. Which should be fine - their parents used outhouses, didn't have electricity, etc. Ours had all that, and so do we. What's the problem?

But now 20 year olds think they're "entitled" to a house, or a big-screen TV, or 3 cars+boat. They can't afford these things so it goes on credit. We're "borrowing" a higher standard of living than our parents, expecting just as much at half the age. No one is patient anymore.

That said, to expect the US Government will ever get smaller is a pipe dream. It won't happen, period. Only thing it'll do is get even bigger (bank bailouts, national healthcare) and then tax(democratic) or borrow (republican) more to cover it.

-Ben

[Aguiluz]

But now 20 year olds think they're "entitled" to a house, or a big-screen TV, or 3 cars+boat. They can't afford these things so it goes on credit. We're "borrowing" a higher standard of living than our parents, expecting just as much at half the age.

No wonder how many "debt companies willing to help people in debt" sprung up.

No one is patient anymore.

Impatient people can't have good things... In my opinion.

[jackfb13]

it's funny I look at todays world and then look at "Atlas Shrugged" and think " Whats the difference?" Hell if I could I would move to a "Galt's Gulge" like place.

[ganonbanned]

Why would they deny the bill? Is the goverment TRYING to go bankrupt on purpose?

yeah, damn fascists.

Just watch, pretty soon there'll be no middle class.

[CronoTriggerfan]

We need a Reagan or an Ayn Rand in this day and age. We've gotten to the point where there will either be a massive secession or a civil war sometime in the next century, with the course we're on. Socialism and the contorted notion of "equality" is rapidly growing. The thing is, unlike Europe, America still has a lot of hot-blooded, Conservative nationalists (myself included ) who wouldn't put up with, as George Carlin puts it, "smiley-faced Fascism" of the New Left were it to take over. A second American Revolution? I could dig it.

And by the way, this man is a prophet.

EDIT:

Why would they deny the bill? Is the goverment TRYING to go bankrupt on purpose?

yeah, damn fascists.

Just watch, pretty soon there'll be no middle class.

You should read "Liberal Fascism" by Jonah Goldberg, I think you'd like it. Ironically, as much as the left preaches an economic policy of one "middle" class, you're right in that there will only be, ultimately, an underbelly of a proletariat and those in power.

[bicostp]

A couple bought the house next door to me in the peak of the mortgage disaster for $345,000. (It's a tiny house; basically a standalone apartment. It needs a lot of work.) The husband died, and the wife and her new boyfriend used most of the life insurance money to buy stupid crap. (2 Harleys, a boat, new cars, a shed, etc.) This past spring they defaulted on the mortgage, after paying less than interest for 3 years.

They were paying less than the interest on the loan.

But now 20 year olds think they're "entitled" to a house, or a big-screen TV, or 3 cars+boat. They can't afford these things so it goes on credit. We're "borrowing" a higher standard of living than our parents, expecting just as much at half the age.

I think you mean "they think they're "entitled" to a house, and a big-screen TV, and 3 cars and a boat.

Back in the 60s, you could tell whose families had better jobs; managers would drive new cars, blue-collar laborers would have older ones. White collar workers would generally have nicer goods, because they could actually afford them. Now, people abuse credit to the point where someone who makes $20,000 a year can get into a $500,000 house, and drive a new Lexus SUV. What happened?

Irregardless of income, if you live outside your means, it's going to come back to bite you eventually. When did we lose sight of this fact?

[CronoTriggerfan]

Irregardless of income, if you live outside your means, it's going to come back to bite you eventually. When did we lose sight of this fact?

Same time America lost sight of most things, late 60s early 70s.

[SonyPortableizer]

I agree, they think they are invincible_I have seen many disasters in my "hood"
My idea is that you buy what you can afford only after your last two paychecks
Basically you buy an xbox for $400 you save up $1200 first, and put the rest in a separate account
That way you are more frugal
Also, you dont own your house/car unless you pay up front for ALL of it
So if I was able to pay $99 a month for a car its not really what I can afford unless I paid all 23,000 up front for it

[jackfb13]

But would Having Ayn Rand Make a difference? I think this county is destined to destroy and then Rebuild itself. Stupidity is programed into humans and thus destruction is inevitable.

what this country needs is some kind of major change for without it we will continue suffering for years to come. Until that day im crawling in a hole and not coming out.

[CronoTriggerfan]

what this country needs is some kind of major change for without it we will continue suffering for years to come. Until that day im crawling in a hole and not coming out.

But if everyone crawls in a hole and waits, nothing will change.

[jackfb13]

ah but your mistake is that i said that I would hide in a hole no one else. . Some pivotal event must happen whether it be a depression or war. otherwise we wont be able to afford to breathe .

Wheres a John Galt type person when we need them....


Wait I know of one CTfan

seriously though you are smart enough I expect you to do something big.

[vskid]

Also, you dont own your house/car unless you pay up front for ALL of it

You do realize how much a house costs, how long it would take to save that much money, and that you'd probably still have to pay to live somewhere. I think that a house is the only thing you should get a loan for, except maybe schooling.

[Triton]

the house i would buy if i were to buy has the asking price of 24,500$, of its an 1850s-1890s victorian house, 2500 square foot, structrually sound with new wiring but needs a little bit more work to the roof and plumbing and interior work, figure get it for 20-22 grand then another 10-20 grand in repair and rennovation and you have a fine house.

the problem with people is they tend to spend money they dont have, im all for loans but when your putting 10k down on a 500k house and paying the minimums your an idiot. if i was going to get that one i would be putting 10k down and paying the rest off in under 5 years. COMMON SENSE PEOPLE HAVE YOU HEARD OF IT!?!

one thing that would probably help the country a great deal is a flat tax, make it a flat 10% across the board, you make 100$ a year pay 1$ in tax, make a million pay 100k. no loopholes, no crap. and the best thing that could happen to our government is to cut out the crap and fix the laws that are obviously broken. but as it stands we are a country beyond hope. its going to take a complete paradigm shift to fix the majority of the problems we have. anything other than radical change is like putting a bandaid on a gunshot wound, sure it might stop blood from coming out of the entry wound but you have bigger problems!

[CronoTriggerfan]

the house i would buy if i were to buy has the asking price of 24,500$, of its an 1850s-1890s victorian house, 2500 square foot, structrually sound with new wiring but needs a little bit more work to the roof and plumbing and interior work, figure get it for 20-22 grand then another 10-20 grand in repair and rennovation and you have a fine house.

the problem with people is they tend to spend money they dont have, im all for loans but when your putting 10k down on a 500k house and paying the minimums your an idiot. if i was going to get that one i would be putting 10k down and paying the rest off in under 5 years. COMMON SENSE PEOPLE HAVE YOU HEARD OF IT!?!

one thing that would probably help the country a great deal is a flat tax, make it a flat 10% across the board, you make 100$ a year pay 1$ in tax, make a million pay 100k. no loopholes, no crap. and the best thing that could happen to our government is to cut out the crap and fix the laws that are obviously broken. but as it stands we are a country beyond hope. its going to take a complete paradigm shift to fix the majority of the problems we have. anything other than radical change is like putting a bandaid on a gunshot wound, sure it might stop blood from coming out of the entry wound but you have bigger problems!

+1 for sanity!

EDIT:

Wheres a John Galt type person when we need them....


Wait I know of one CTfan

seriously though you are smart enough I expect you to do something big.

Wow, thanks. In all honesty, that's the plan, but I've got a lot to do before I get there.

[grossaffe]

I will say this is the first time since I've been old enough to vote that I plan not to, or vote 3rd party.
-Ben

I am curious as to why this is. I understand not wanting to vote for McCain or Obama, but what is it you're looking for in a 3rd party candidate that you can't find?