and, why only a few ?

if they keep de-basing the currency, ……. w a t c h w h a t h a p p e n s

Do they realize what they are doing to psychiatry costs? Guess that’s their plan to take care of the “little people” (which a few of the Congressmen have taken to calling us recently).

“Acevedo and her husband moved from New Jersey to Brevard because they thought the schools would be better for their two children. After renting for a year, they bought a house in 2004 for $114,000. They later refinanced and now owe $160,000. Acevedo said she doubted she could get $80,000 for the house right now.

“‘We are so upside down,’ said Michelle Nacua of Lehigh Acres. Nacua and her husband, Lani, bought their house in 2004 for $112,000. They refinanced twice and now owe $161,000, far more than the $114,000 the three-bedroom, two-bath house is assessed for by the county Property Appraiser’s Office. ‘It is our fault, but I hate it.’”

“Maria Osorio, 62, of Sunrise, never meant to run up her credit cards the way she did. But the companies sent them so freely. And they were so easy to use. First it was gifts and big items. Then it was gasoline, and that tasty baked chicken at the Golden Corral restaurant, then even groceries.”
“Suddenly the charges on her eight credit cards totaled $14,000. And she couldn’t always pay the monthly minimums. ‘The interest rates were killing me,’ she said. ‘If I sent in $100, only $20 of it was going to the principal. The pressure was building. I started getting the calls.”’

“Unfortunately, the economic crisis comes at a time when American consumers have been living beyond their means for decades. By 2007, personal consumption had reached $10 trillion a year. While housing values were booming, they financed purchases with home equity loans.”
”’From 2001 to 2006 homeowners cashed out $1.2 trillion in home equity, to cope with mounting debt and basic living expenses,’ says José Garcia, of the Demos financial consulting firm.”~~~

Here we were, saving, and we’re gonna get dinged with higher taxes cause a lot of selfish aholes decided their equity was Big Party Whoopee Time money.

Gosh, I’m pissed.

And I’m pissed at the builders who overbuilt in MY Florida, and messed it the hell up.

Mir

quote from housing bubble blog poster

In 1971, the dollar was valued at approximately 0.810 grams of gold per dollar.
In 2008, the dollar is valued at approximately 0.035 grams of gold per dollar.

We hear our politicians praise our low rate of inflation… but that’s based on the numbers they choose to utilize for their calculations.

If you average out the devaluation of the dollar (vs gold), you see that on AVERAGE, the dollar has lost about 8% of its value PER YEAR, EVERY YEAR since Nixon demolished the gold standard. We must correct his mistake. Your life savings shouldn’t be based on the current mindset and/or the urges of Wall Street. Your material savings should be material.

There has been more money created in the last few weeks (or will be as result of legislation in the last few weeks) than was created in the previous few YEARS. The only reason the dollar hasn’t flat lined is that most of the rest of the world markets are doing even worse than ours.

You can’t just keep creating money to bail yourself out. It’s only a matter of time before the world begins to stop accepting the dollar in payment because there just isn’t any real value in it anymore. When you create this much of it this quickly, what else can you expect?

Expect a HUGE inflationary period to follow- a period that may last for several years.

I just hope the dollar will still be worth enough to buy some beans and rice with my check by the time it gets here.

Oh, and I’m still not voting for anybody who voted yes on the EESA bailout. But I’ll get the stimulus check anyway, won’t I?