I drink your milkshake! a metaphor for capitalism

[rickyb]

I agree they shouldn’t have written down Wall Street debt

But I disagree. They should’ve written down student debt and housing debt because they would all be in debt again right now anyway, that’s what happens when you bail people out with other peoples money.

debt needs to periodically be written down.

 

[Thebrownblob]

debt needs to periodically be written down.

Why? I bought my house in 2007. I have two years left to pay on it. No one had to bail me out.
2008 didn’t do anything to me because I made good decisions with my money.

 

[Box Ox]

I agree they shouldn’t have written down Wall Street debt

But I disagree. They should’ve written down student debt and housing debt because they would all be in debt again right now anyway, that’s what happens when you bail people out with other peoples money.

This got me looking at this:

https://www.usdebtclock.org/

 

[Thebrownblob]

This got me looking at this:

https://www.usdebtclock.org/

We are a culture of debt, Washington DC sets the example.

 

[rickyb]

Why? I bought my house in 2007. I have two years left to pay on it. No one had to bail me out.
2008 didn’t do anything to me because I made good decisions with my money.

because debts always expand faster than an economy's ability to repay.

 

[Thebrownblob]

because debts always expand faster than an economy's ability to repay.

That’s because you want the government to pay everybody’s bills. Why is this so hard for you to figure out? You are the problem, not the answer.

 

[Box Ox]

I agree they shouldn’t have written down Wall Street debt

But I disagree. They should’ve written down student debt and housing debt because they would all be in debt again right now anyway, that’s what happens when you bail people out with other peoples money.

This got me looking at this:

https://www.usdebtclock.org/

We are a culture of debt, Washington DC sets the example.

Maybe we'll be OK if we try comrade Ricky's vision for America.

 

[Thebrownblob]

of course it does. you have more money to bid.

i recall thinking this back before i even listened to economists at all. i was looking at mortgages i think and it was already out of control i wouldve been close to maxed out at 30/hr, and i was thinking what if people who worked less lived in the same area and were the only ones who could bid on houses, wouldnt it be cheaper?

little did i know how deep the rabbit hole goes, theres all kinds of wild price swings for housing in the world.

That’s weird because I was probably making about $30 an hour in 2007 when I bought my house 2700 square-foot. I’ve had no trouble paying.

 

[rickyb]

That’s because you want the government to pay everybody’s bills. Why is this so hard for you to figure out? You are the problem, not the answer.

no its compound interest

 

[rickyb]

That’s weird because I was probably making about $30 an hour in 2007 when I bought my house 2700 square-foot. I’ve had no trouble paying.

youre lucky you werent defrauded. 40% of new mortgages around that time were such.

 

[Thebrownblob]

no its compound interest

If people take loans out and they do not understand how the interest works. Whose fault is that?

 

[rickyb]

Maybe we'll be OK if we try comrade Ricky's vision for America.

youve already lost so much, might as well risk it all for true freedom.

 

[Thebrownblob]

youre lucky you werent defrauded. 40% of new mortgages around that time were such.

Defrauded? The reason why 2008 happened was because of the Frank Dodd Bill that told banks they had to loan to everyone whether they qualified or not. Once again, another government caused emergency and tragedy Isn’t it cute when they come in and try to fix what they made a mess of?

 

[Box Ox]

youve already lost so much, might as well risk it all for true freedom.

What would our new flag look like after your comrade revolution?

 

[rickyb]

If people take loans out and they do not understand how the interest works. Whose fault is that?

 

[rickyb]

Defrauded? The reason why 2008 happened was because of the Frank Dodd Bill that told banks they had to loan to everyone whether they qualified or not.

it was exponential growth in fraud by the guys doing the loans and deregulation

everything was BS.

 

[Thebrownblob]

it was exponential growth in fraud by the guys doing the loans and deregulation

everything was BS.

Yes, but I wasn’t getting a NINJA loan. And I can assure you anytime the government is involved there is fraud and abuse, but yet that is your fix to everything everything more government control.

 

[rickyb]

Yes, but I wasn’t getting a NINJA loan.

the lenders made up the documents using white out.

 

[rickyb]

What would our new flag look like after your comrade revolution?

thats for everyone to democratically decide.

 

[Thebrownblob]

the lenders made up the documents using white out.

And that would’ve required me agreeing. There’s always two parties involved Ricky I realize that you don’t have any idea how loans and money actually work because you live in your mom and dad’s basement