The stock market looks bad.

[Lobzi]

Quote:
I agree, but you know that is counter what we are supposed to do.... spend spend and spend some more... stimulate the economy... gotta get those banks loaning more money... debt is the American way!!!!

 

[hoosier]

I agree with you, horsejody. I am all for helping those that are down on their luck due to job loss/mdeical issues... but I get tired of shoveling money to those that don't make responsible decisions.
I saw a story yesterday about a middle-aged guy whining that he had to moe back in with his mom and wondering if he should take a $10/hr job just to have one. He said he used to make a half million dollars a year! How could he not have purchased a reasonably priced house and owned it outright?

 

[agnes_day]

are things really getting that bad?? i guess we are poor enough not to notice or something!

it seems to me, and i could be dead wrong but it seems like a lot of the problems are from people spending money they dont really have and then borrowing more to pay that off and so on.

 

[HarlansHollowFarms]

Quote:
ok, the guy used to make a half a mill a year...he buys a house, more than likey he will spend alittle more then someone who makes 12,000 a year...point being he LOST his job. Can you afford your mortgage if you lost your job? Have you saved that much?

 

[horsejody]

Quote:
ok, the guy used to make a half a mill a year...he buys a house, more than likey he will spend alittle more then someone who makes 12,000 a year...point being he LOST his job. Can you afford your mortgage if you lost your job? Have you saved that much?

I think the point was that the guy that used to make a half million a year should have been smart enough to put some away. And why should we feel sorry for him because he has to take a $10 an hour job while he lives with his mother? He could have put some money away for a rainy day. Only an idiot making bad choices would have a job that paid that well and have no savings to fall back on. Now the poor thing has to lower himself and work and live among the unwashed masses.

I understand your point, but I'm old and cranky. Utopia doesn't exist, and socialism (aka redistributing the wealth) has never worked. People should care for their own and share what they can for the good of the unfortunate, but the irresponsible people in society need to learn from their mistakes not just keep draining the resources of others.

 

[Rhett&SarahsMom]

Quote:
I don't think anybody does, but one way or another we will pay. If the people lose thier houses where will they go, if they don't have a job how will they survive.....no one is totally innocent in this mess we have created for ourselves....so we meed to bite the bullet and help out where we can.

I think that the people that have lived within their means and didn't get in too deep are innocent. I bought the house I could afford and have always made my payments. I'm sick and tired of the government picking my pocket to pay for other people's mistakes. I don't mind there being safety nets to keep people from falling through the cracks, but the people that jump into the cracks should be left there.

One story I read about yesterday was about a mortgage broker in FL
She had bought a 300k house with a ARM. Her payments went up, just like everyone elses with those. She didnt lose her home though because of some deal with her bank. All I could think was
"You were a MORTGAGE BROKER! Twit!"

We bought well within our means. But it still hasnt been easy. We have one car. DH takes the train to work. House needs repairs, that before I got laid off yesterday may have been possible. Not anymore.

As far as working at McDonalds goes. Yeah right. Not even the fast food joints, the local WalMarts or the grocery stores are hiring anymore. Lucky me. I am "over qualified" and they want those jobs to go to "those that really need em"

 

[mmtillman]

Quote:
I am with you Christi! I truly believe there has to be some good come out of all this .....we ....myself included, have been taking things for granted far too long and we needed this wake up call to bring us all back down to earth, so to speak.
Yes , the six o'clock news is all gloom and doom...no one wants to report on the positive side of all this , but as C. said.....if we look around we can see so many examples of people helping people.
I always wished we lived in the Good Old Days....well as C. pointed out ...we do indeed, if we just look around us !! Well said , Christi!!

 

[HarlansHollowFarms]

Quote:
ok, the guy used to make a half a mill a year...he buys a house, more than likey he will spend alittle more then someone who makes 12,000 a year...point being he LOST his job. Can you afford your mortgage if you lost your job? Have you saved that much?

I think the point was that the guy that used to make a half million a year should have been smart enough to put some away. And why should we feel sorry for him because he has to take a $10 an hour job while he lives with his mother? He could have put some money away for a rainy day. Only an idiot making bad choices would have a job that paid that well and have no savings to fall back on. Now the poor thing has to lower himself and work and live among the unwashed masses.

I understand your point, but I'm old and cranky. Utopia doesn't exist, and socialism (aka redistributing the wealth) has never worked. People should care for their own and share what they can for the good of the unfortunate, but the irresponsible people in society need to learn from their mistakes not just keep draining the resources of others.

I agree, irresponsible people should learn from their mistake, most probably will not. I never said we should feel sorry for anyone, feeling sorry for and caring are different,we do not know this person, nor do we know the whole story behind him.
I do not consider myself to be an idiot, but I have made bad choices in the past, some times people just get caught off guard.
I also never said that my world is utopia or socialism...we live in a republic and our own is not only family, but our neighbours, and everyone else that breaths. They have an effect on our prosperity

 

[I have WHAT in my yard?]

Prices for lots of things are dropping like rocks. If you have a cash cushion now is a good time to buy those things you need to stock up on. Beef will be cheap here for a bit, but prices for all food are going to start shooting up here by fall. I am hoping that local food production will keep prices reasonable for a while, but I'm not betting the ranch on it.

Deflation followed by hyper-inflation and not one thing any politician anywhere can do to stop it. That horse is already out of the barn

 

[texaschickmama]

Won't they just keep printing money that we aren't good for?