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Originally Posted by Seaver
Not to derail, but I thought you were a waiter?
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No I'm the waiter. I'm waiting on her, when I meet her... I'll know her.
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Originally Posted by Seaver
Anyways all of this boils down to one thing. Investments are a gamble. When you invest in PEOPLE, it's a bigger one. When people buy things they can't afford, gambling on the future, they can not complain about losing on the gamble.
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Roger that. People (and in this case an entire national budget) can not survive on borrowing money endlessly. Least not for long, the Visa bill come due at some point then we're screwed.
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Originally Posted by Seaver
Unfortunately, this worked for over 20 years and it became a certainty. People continued to buy McMansions, or houses that were more than their total gross income for 8+ years on 15 year mortgages.
So now those pushy mortgage brokers who made their bonuses by pushing these risky investments, the shortsighted managers who pushed the brokers to continue it, and the bug-eyed purchasers are paying the price.
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Close, but the way I see it the pushy brokers sold those risky notes to large finance houses. It's those institutions that are now failing. The Fed is stepping in and bailing them out. So in affect the US taxers are the ones now paying. That makes you and I the losers
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Originally Posted by Seaver
Will this be '29? I SERIOUSLY doubt it. Will this, along with the oil prices, cause '70s stagflation and short-term recession? I am gambling on it. Honestly, 10% of my income is buying up stocks to get them cheap and reap the benefits later.
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I think you might be right. I hope you're right. But doing anything other then shorting stocks right now takes the balls of giant.