singlelife Posted July 27, 2009 Posted July 27, 2009 Ok I have been watching all this stuff on tv about how th economy is messed up. There is all this talk about the greedy HOMEOWNERS who took too much and KNEW they didn't have the money. So it seems as if most of the blame goes on all the people who got the extra car and extra pool and were not really responsible adults. What I want to ask is all the people who did this do they feel sorry for THEIR mess ups and how they messed stuff up for everyone.
utterer of lies Posted July 27, 2009 Posted July 27, 2009 Ok I have been watching all this stuff on tv about how th economy is messed up. There is all this talk about the greedy HOMEOWNERS who took too much and KNEW they didn't have the money. So it seems as if most of the blame goes on all the people who got the extra car and extra pool and were not really responsible adults. Haha, which planet are you from? Maybe you should read up on the whole thing, and not just watch tv. I recommend 'the economist', or maybe the 'financial times'. The 'guilt' lies not with the 'greedy homeowners', but mainly with the american government and some really stupid decisions they made a decade ago, e.g. that 'everyone should be able to own a home'. Policy and financing decisions based on that goal proved to be disastrous, as you can see now... What I want to ask is all the people who did this do they feel sorry for THEIR mess ups and how they messed stuff up for everyone. Feeling sorry for messing stuff up for everyone is not something that comes easy to humans, and especially those who have proven to be irresponsible. And why should they? They maximized their short-term gain. Now they suffer too. They feel sorry for themselves, that's what humans are really good at. And there are few industrialized countries where it's so easy to completely ruin yourself forever without some thinking ahead, because of a lack of legal protection. In most european countries, the maximal legal credit interest rate is something like 17% - yet in america you might go up to 33% and more. But...anyway, there's also a sunny side to the whole thing - property is really cheap right now!
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