Posted by Bobby on October 3, 2008, at 23:16:59
In reply to Re: Oops-- there goes the economy..., posted by Dinah on October 3, 2008, at 12:35:20
Dinah--my friend,
You're right about so many things--and I've always been amazed at how much sense you consistantly make. However, I remember the 70s well---like, "The world is out of oil!" for example. If I remember also,people thought we were heading for another ice age. I'm hip to those who seek to control the masses through fear. Back then if my memory serves me correctly----Joe Walsh put out an album(remember those?) and the title was, "You can't argue with a sick mind." Well, I confess, I probably fall into that catagory and have suffered because of my ignorance when it comes to the nuts and bolts on some of the issues in the great game of life. I base most of my beliefs on nothing more than personal experiences and neurotic theories. Just for reference, We were having quite a load of financial difficulties a while back. It started when our mortage company --without any warning----chose to raise our payments by a thousand dollars a month----yes $1000 extra each month( and, no, it was not an adjustable loan). We tried to reason with them---but they said tough luck--that's the way it is. We got behind on our credit cards while trying to adjust to the added burden. We had always paid our bills--on time---but then--the credit card companies(both of them) told us that since we were behind on our payments that our interest rates were going up to the maximum percentage allowed--something like 28%. Not only that--but they froze our credit limits immediately--instantly--which mean't that with the added increased interest -- we went over our limits immediately as well--and that was an added charge for exceeding. Forget what they say about companies "willing to work with their customers" I tried personally--multiple times--no quarter. We were not big spenders living high. We were fortunate to rise above our troubles--but not before sinking to the lowest depths. I'm not talking about folks losing their stocks and bonds or second homes-or yet even a retirment fund. I'm talking about families who struggle to put food on the table on a daily basis. They're not thinking about Wall Street. I'm sure that most of the super rich take comfort in the fact that the blame can be spread thin enough not to put their fortunes at risk. After all, "It's the financial environment's fault" It's just when I see corporate CEOs being fired for bad performance--and then retiring with a 20+ million dollar golden parachute---it ticks me off. Just seeing a person driving around in a Hummer, while simultaneously talking on the cell phone and being rude and aggressive on the road----gives me little doubt as to why other people in the world hate us Americans. I think it's greed alright--the love of money. I'm sure that folks will come out of the woodwork trying to convince me otherwise --impressing with their vast knowledge of the global ecomomy and their superior grasp of all thing financial--and in many instances --they'll be right. But a good lawyer can get a guilty client set free or an inocent client put in prison-----night becomes day and day becomes night. The mortgage crisis did set things off----and people "should" have known better--but they have to live somewhere. Somebody had to push those loans and dreams---and who better to know the ultimate consequences of such foolish decisions than the the lenders--the predators. That's what they do for a living. Now, our government is mortaging our kids' futures to remedy --to reward---those practices.They are supposed to be leaders--not followers. And you know what? Maybe the country can't afford that kind of mortage----but the same experts are selling the same old story that fueled our present crisis.And so the vicious cycle continues and history repeats itself. Sure I'm just angry with the whole mess--and I'm lashing out. But I'd like to think that my opinion is representative of a majority of the hard working people who once made this country the envy of the rest of the world. So--I'll wallow in anger for a while at what has just transpired--until I'm capable of making a rational judgment. I guess Joe was right---"you can't argue with a sick mind."
poster:Bobby
thread:854180
URL: http://www.dr-bob.org/babble/poli/20081002/msgs/855664.html