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9/30/2008 1:06:00 PM
Once the consumer has his net worth and maybe employment stripped from him by either inflation, taxes, more debt and no credit you may think that this is "not the best thing to happen yet".
The bubble created the material things and the burst will take them away
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9/30/2008 1:09:00 PM
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9/30/2008 1:10:00 PM
banks have money to loan, they are just asking for high interest because they see a lot of risk out there
Not true! Banks have money, like the home owner has equity - it's one of the same thing.
But remember, the people may be loosing their jobs and home, at least the US are still trying to democratize Iraq and Afghanistan and give the "good people of Iraq a decent country" - bless their hearts
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9/30/2008 1:13:00 PM
maybe this shifting focus will swing votes, then?
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10/1/2008 3:27:00 PM
Why is this bad? It's not - it has to happen
lack of domestic and international financing and international support will end the wars - they will have no choice
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10/1/2008 3:28:00 PM
it's all make believe money anways
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10/2/2008 2:46:00 PM
Juggy TRUE
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10/3/2008 4:24:00 PM
no fiat currency is worth the paper it's printed on...literally
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10/4/2008 12:17:00 PM
interesting.
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11/24/2008 12:18:00 PM
i like how our greed hit a critical mass, and now everything is collapsing, especially vehicle sales, gas prices etc.
And yes, I DO realize gas prices are not entirely affected by the sub-prime meltdown.
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11/24/2008 1:05:00 PM
the inflated value of real estate and oil had to crash eventually. most everything else is just following suit.
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11/24/2008 1:09:00 PM
Coconut, I think greed is the way of life in the developed world. There is never enough. Everyone feels entitled to own a home.
So true
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11/24/2008 1:11:00 PM
Everyone feels entitled to own a home
monkey see TV, monkey do...
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11/24/2008 4:41:00 PM
when housing returns to 2.5 to 3 times household income we can get back to normal. The credit crisis has been caused by interest rates set lower than GDP and non-existent interest rates on savings
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