Comments on: Wave Goodbye to the Bankrupt Joneses: Deconstructing the American Dream. The Shifting Financial and Societal Goals of a Country Mired in Debt. http://www.doctorhousingbubble.com/wave-goodbye-to-the-bankrupt-joneses-deconstructing-the-american-dream-the-shifting-financial-and-societal-goals-of-a-country-mired-in-debt/ How I Learned to Love Southern California and Forget the Housing Bubble Thu, 09 Feb 2012 06:16:36 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: winter http://www.doctorhousingbubble.com/wave-goodbye-to-the-bankrupt-joneses-deconstructing-the-american-dream-the-shifting-financial-and-societal-goals-of-a-country-mired-in-debt/#comment-35370 winter Thu, 02 Apr 2009 16:49:17 +0000 http://www.doctorhousingbubble.com/?p=1604#comment-35370 orange kitty- I guess your meaning of "force" is different than the established definition. And you know this because you even put force in quotes. The truth is no one was forced to take the loan. People willingly suspended disbelief in "too good to be true" scenarios and got bit. I never said bankers were victims. People who took out loans that were too big are getting what they deserve and banks should be getting what they deserve too. Both people and bankers deserve no mercy but somehow our ire gets solely directed towards bankers incorrectly absolving people of their own blame and responsibility. That is simply dishonest. Whats really disheartening in this debate and you touched upon it is the anger seems to be directed towards those making a "huge salary" The lessons of history show us that class warfare is dangerous path to go down. orange kitty-
I guess your meaning of “force” is different than the established definition. And you know this because you even put force in quotes. The truth is no one was forced to take the loan. People willingly suspended disbelief in “too good to be true” scenarios and got bit. I never said bankers were victims. People who took out loans that were too big are getting what they deserve and banks should be getting what they deserve too. Both people and bankers deserve no mercy but somehow our ire gets solely directed towards bankers incorrectly absolving people of their own blame and responsibility. That is simply dishonest. Whats really disheartening in this debate and you touched upon it is the anger seems to be directed towards those making a “huge salary” The lessons of history show us that class warfare is dangerous path to go down.

]]> By: orange kitty http://www.doctorhousingbubble.com/wave-goodbye-to-the-bankrupt-joneses-deconstructing-the-american-dream-the-shifting-financial-and-societal-goals-of-a-country-mired-in-debt/#comment-35358 orange kitty Thu, 02 Apr 2009 04:08:17 +0000 http://www.doctorhousingbubble.com/?p=1604#comment-35358 winter- YES people did "force" these loans on people, in the sense that bankers were assumed by the general public to be "professionals" with regards to money and therefore acting as a fiduciary on their behalf when recommending loan projects. How quaint, someone making a huge salary actually responsible for making sure the loans they write are LEGITIMATE! Besides even if the auto mechanic took out this outrageous $400k loan some fascist banker offered him, he STILL lived up to the end of the contract he signed. The house was the COLLATERAL in that transaction and if the buyer can't pay the bill his house is simply taken away. Right?? Those were the "terms" the banker set up after all. Joe Schmoe's responsiblity ends there. You honestly think in the 'old days' the bank would at all hesitate to take your house and decades worth of equity if it suited them in your personal time of crisis (e.g. horrible illness, job loss)?? Hello no. This time they just got too greedy and made such a sheer quantity of bad loans the tsunami wave rolling back at them now threatens their extinction. They are not 'victims' here. They are predatory scumbags who happened upon many willing victims during the boom years (and many innocent ones as well). They deserve no mercy and ARE TO BLAME for the global financial crisis now unfolding! winter-

YES people did “force” these loans on people, in the sense that bankers were assumed by the general public to be “professionals” with regards to money and therefore acting as a fiduciary on their behalf when recommending loan projects. How quaint, someone making a huge salary actually responsible for making sure the loans they write are LEGITIMATE!

Besides even if the auto mechanic took out this outrageous $400k loan some fascist banker offered him, he STILL lived up to the end of the contract he signed. The house was the COLLATERAL in that transaction and if the buyer can’t pay the bill his house is simply taken away. Right?? Those were the “terms” the banker set up after all. Joe Schmoe’s responsiblity ends there.

You honestly think in the ‘old days’ the bank would at all hesitate to take your house and decades worth of equity if it suited them in your personal time of crisis (e.g. horrible illness, job loss)?? Hello no. This time they just got too greedy and made such a sheer quantity of bad loans the tsunami wave rolling back at them now threatens their extinction. They are not ‘victims’ here. They are predatory scumbags who happened upon many willing victims during the boom years (and many innocent ones as well). They deserve no mercy and ARE TO BLAME for the global financial crisis now unfolding!

]]> By: winter http://www.doctorhousingbubble.com/wave-goodbye-to-the-bankrupt-joneses-deconstructing-the-american-dream-the-shifting-financial-and-societal-goals-of-a-country-mired-in-debt/#comment-35338 winter Tue, 31 Mar 2009 20:45:04 +0000 http://www.doctorhousingbubble.com/?p=1604#comment-35338 summer, I'm sorry if $1600 isn't enough to maintain a lifestyle but you still haven't told me why it's my responsibility to help you out of your bad times? Again, I must circle back to my original post and ask where does it stop? If $1600 isn't enough then is $3000 enough (perhaps $5000/month since your scenario included 2 kids) At what point will the person receiving $3k/month decide it's much easier staying at home getting $3k/month rather than wasting at minimum 40 hours a week to get the same? Since when is loosing your job or being unemployed supposed to be easy or a soft landing? Are we also considering raising the minimum wage to $15/hour cause there are people who are employed that make less than $1600/month. Should part time employees also be promised "enough" money? While you're at it and if you could think this far ahead, what would happen to the dollar if everybody was making at a minimum $70k a year? (hint: a new floor would be established) And what is your definition of affordable healthcare? If $200/month kaiser rates are dropped to $10 (much more reasonable right?) then something has to give. most likely it results in a few more people laid off a bunch more salary reductions and this is my favorite part: approved treatments will dwindle. You will get what you pay for. You only want to pay $10/month for a doctor, well you'll probably get $10 worth of care. Yes I know, heartless. Lets see, Don't have an answer do you? because your brains are full of what one generally finds inside an ass. summer,
I’m sorry if $1600 isn’t enough to maintain a lifestyle but you still haven’t told me why it’s my responsibility to help you out of your bad times? Again, I must circle back to my original post and ask where does it stop? If $1600 isn’t enough then is $3000 enough (perhaps $5000/month since your scenario included 2 kids) At what point will the person receiving $3k/month decide it’s much easier staying at home getting $3k/month rather than wasting at minimum 40 hours a week to get the same? Since when is loosing your job or being unemployed supposed to be easy or a soft landing? Are we also considering raising the minimum wage to $15/hour cause there are people who are employed that make less than $1600/month. Should part time employees also be promised “enough” money?
While you’re at it and if you could think this far ahead, what would happen to the dollar if everybody was making at a minimum $70k a year? (hint: a new floor would be established)
And what is your definition of affordable healthcare? If $200/month kaiser rates are dropped to $10 (much more reasonable right?) then something has to give. most likely it results in a few more people laid off a bunch more salary reductions and this is my favorite part: approved treatments will dwindle. You will get what you pay for. You only want to pay $10/month for a doctor, well you’ll probably get $10 worth of care. Yes I know, heartless.

Lets see,
Don’t have an answer do you? because your brains are full of what one generally finds inside an ass.

]]> By: Doug N http://www.doctorhousingbubble.com/wave-goodbye-to-the-bankrupt-joneses-deconstructing-the-american-dream-the-shifting-financial-and-societal-goals-of-a-country-mired-in-debt/#comment-35333 Doug N Tue, 31 Mar 2009 14:55:41 +0000 http://www.doctorhousingbubble.com/?p=1604#comment-35333 Guess I'll just be an unpublished contributor! <a href="http://www.nytimes.com/2009/04/01/business/economy/01econ.html?hp" rel="nofollow">Record Drop in January Index of Home Prices</a> Record Drop in January Index of Home Prices A widely watched 20-city index tumbled 19 percent from January 2008, the largest decline since the index started in 2000. Guess I’ll just be an unpublished contributor!

Record Drop in January Index of Home Prices
Record Drop in January Index of Home Prices
A widely watched 20-city index tumbled 19 percent from January 2008, the largest decline since the index started in 2000.

]]> By: Doug N http://www.doctorhousingbubble.com/wave-goodbye-to-the-bankrupt-joneses-deconstructing-the-american-dream-the-shifting-financial-and-societal-goals-of-a-country-mired-in-debt/#comment-35330 Doug N Tue, 31 Mar 2009 10:30:19 +0000 http://www.doctorhousingbubble.com/?p=1604#comment-35330 <a href="http://www.washingtonpost.com/wp-dyn/content/article/2009/03/25/AR2009032502226_pf.html" rel="nofollow"> Welcome to America, the World's Scariest Emerging Market</a> Welcome to America, the World’s Scariest Emerging Market

]]>