Let's admit it. Many Americans have been living in a fairytale world fulfilling fantasy after fantasy for a long time without the financial positions needed to support their lifestyle.

Not to long ago in a village near you.

I want a 4 bedroom, 2 bath , 2 car garage pool home.
:wizard: Wish granted. Sign here.


I want a new Hummer2 to go to the grocery store.
:wizard: Wish granted. Sign here


I want a house full of furniture with no payments for at least 2 years.
:wizard: It will be delivered tommorow. Sign here.


Hey, I can't afford to make these crazy payments. I need help.
Lawyer :bday2: I can help. Sign here.

AMEN BROTHER

You left out the part where now it's the taxpayers problem so they can keep all the cool stuff they really shouldn't have.

I want an eight car garage and a one bedroom house.

Quote:No kidding. How are car companys going to ask for a break? They are the ones doing it to them.

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Where can I sign up for the big house, pool, Hummer, and all the furniture? Can I defer payments until this economy mess is over perhaps?

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Don't worry man, we got your back, we're the taxpayer insurer of last resort for the incompetent...it's all good.

don't get me started on car companies, you all may not like what you hear.

As for the rest of it, I woke up to it about 8 years ago. Once I paid off my Vette, I did my damnedest to never incur anymore unnecessary debt. I lived on cash and cash alone.

It might have meant doing without, but I did ok.

This credit collapse was just waiting to happen. I think it came to me in that silly TV commercial when the guy was mowing his yard and grilling dinner... he was so in over his head in finance charges... I didn't want to be there. All to create an illusion of wealth.

I don't remember who the ad was for, but the message was loud and clear.

I feel sorry for some who got into this mess. They were just not equipped to deal with the hard sell... but I grew caution as I got older... I didn't want to get upside down before I had a real chance to get right side up.

I am SO glad we held off in buying a house around here. The mortgages are twice our rent bill... and with bastet just starting her own firm, our war chest of savings would be nearly gone. From the mortgage alone. Luckily, we don't have debt, beyond a little residual credit card stuff... one three legged cat comes to mind... Our cars are paid for... the Jeep we bought 2 years ago? CASH BABY! CASH! No bankers... no loans... no liens...

I hope everyone in this great nation can wake up and come to the peace that can come from financial freedom. It is so damned refreshing to know that we are outside looking in.

As for "debt relief" it should be noted these are LOANS not gifts. They are to be paid back.

Finally, if GM/Ford/Chysler were to fail, the ripples felt throughout the US and global economies would be staggering. In this country alone, it is estimated that 5 million people would be out of work. Think about that. We either loan them $$ or we give it back to the unemployed. I think the loan makes much more sense, at least in the long term.

WOW!!

Let them fail. The unions got what they wanted, I don't see why we should bail them out.

As it is, the taxpayer is backing the union pension, which is a joke.

Nope, they need to go Chapter 11, and re negotiate these bloated union contracts that have killed them

As far as the credit mess, I agree with Bill Clinton. He never should have signed the bill that allowed this all to happen. I also point out that Charile Meeks and the rest of the ultra lib idiots in government who chose to ignore the facts about Fannie and Freddie and say they were in good shape, INCLUDING BARNEY FRANKS are to blame.

To their credit one of the few things the Republicans did right over the years was warn about the collapse of Fannie and Freddie and it fell on deaf ears.

This crisis was borne on the alter of Political Correctness trying to "help the little guy". Just another example of how government needs to stay the fk out of the market.

Now Bogus, you should know that those "loans" will never get fully paid back. And I still never heard a good reason for the loans. What, to pay for the people who defaulted on their car loans because they could not afford the payments? The lenders need to hold higher standards and make sure the people can actually afford the vehicle they are getting, anyway, I agree with bogus. Everyone needs to be working off their debt and be debt free. I would love to be 100% debt free and me and the wife have been working on it for the last year. Lately we have not made much headway and had to use credit for a few things but in 3 years we should be debt free or nearly debt free. If anyone wants to know a great finicial program just let me know and I will tell you, its a great program.

I don't consider them loans that will be paid back.


The fact that the only one perhaps willing to "loan" them money is the government, means no private bank in their right mind wants that risk. In their current state, they are sure to fail, in which case, nothing will be paid back.


Hopefully it should be pretty clear by now that government doesn't have your best interests in mind and is the most wreckless money manager you could ask for.

Lenders drove this gravy train straight off the cliff, because the decisionmakers knew nobody would hold their ass to the fire when it all went down.

Welcome to smash-n-grab economics!

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What's worse, is the government just put itself in a position of arbiter of which companies will live and die. Political considerations will be considered, not market based one. Do you save Phillip Morris? Or Mc Donalds? Or the manufacturer of solar panels?

Yep, this is bad.

I'm amused that everyone craps on bailing out automakers that have no chance in hell of managing themselves into financial prosperity...

...yet they'll continue voting for the same politicians that have failed them in the past and are stealing from their wallets more than ever before.

Admit it already: We are sadists and we vote for these miserable bastards so that we have something to bitch about in our otherwise mundane, pointless lives.

Anyways, how is Britney's custody battle going?