Economic Suicides Megathread

[toasty]

Re: Economic Suicides Megathread

I am appalled by some of the comments made lately about me. Let me make this perfectly clear.

I AM NOT A MONSTER!!

For the record, I am well aware that you are not a monster. I think what you're seeing, though, is all of your doom and gloom posts over the last few months coming home to roost. When every thread you start is pointing out some past, present or future catastrophe, you can't be surprised when people start flipping you shit suggesting you're a fan of human suffering. If it walks like a duck and quacks like a duck, people are going to assume it's a duck, and lately you've been walking and quacking like someone that likes to hang around the train tracks in the hopes of a crash.

I'm honestly not saying this to be mean, just want you to know where these posts are likely coming from. FFS, man, look back at your last 100 or so posts in this section. If I took all of that to heart, I wouldn't leave the house. Post some pictures of bunnies or something for a change, and maybe we'll get off your back.

[Miroslav]

Re: Economic Suicides Megathread

THIS IS REALITY!!!!! Not fairy tale land.

thanks for that tip! we weren't sure.

[maddlingo]

Re: Economic Suicides Megathread

The family that was killed by their father just north of Baltimore is truly a sad story. His daughters and wife didn't deserve what he did to them. I went to grad school at Loyola (a small private Jesuit colege) where the oldest daughter was a sophomore and still can't believe something like that would happen to any student who attends that school.

http://www.baltimoresun.com/news/local/baltimore_county/bal-hotel-deaths0422,0,6796565.story

[ddr]

Re: Economic Suicides Megathread

I think it is insensitive to kick families out of homes.

it may be insensitive but they are the morons who agreed to that mortgage. if they cant pay it, then they either need to refinance.... oh wait.. credit card debt, again.. MORONIC or sell their house that they didnt deserve in the first place, and get an apartment or something that they can afford.

we should not reward stupidity.

[runningman]

Re: Economic Suicides Megathread

true. I am not saying give free handouts to stupid people either. I am just very frustrated with the decisions of both Bush and Obama. I wish this mess was over with(Captain Obvious)

[speciale]

Re: Economic Suicides Megathread

i think the incentive comments are more towards the innocent ones who get killed. such as the family in Baltimore. They were murdered for Christ sake.

But as for the failed father that murders his family and then kills himself, that is a different story. Still cant understand why people would do this.

[floridaorange]

Re: Economic Suicides Megathread

morons who agreed to that mortgage. if they cant pay it, then they either need to refinance.... oh wait.. credit card debt, again.. MORONIC or sell their house that they didnt deserve in the first place, and get an apartment or something that they can afford.

exactly!

[toasty]

Re: Economic Suicides Megathread

it may be insensitive but they are the morons who agreed to that mortgage. if they cant pay it, then they either need to refinance.... oh wait.. credit card debt, again.. MORONIC or sell their house that they didnt deserve in the first place, and get an apartment or something that they can afford.

we should not reward stupidity.

I agree, although I would point out that it probably isn't fair to lump everyone into this same group. There are people that bought more home than they could afford using loans with teaser rates, balloon payments, adjustable rates, etc., and as long as they were fully advised of what they were doing at the time they made the loan, I don't feel a lot of sympathy for them -- especially those teaser rates, where you KNOW the rate is jumping to an obnoxious number within a year. These people are engaged in a Sissyphean task, and bailing them out to keep them in their homes just prolongs the inevitable and rewards short-sightedness.

I do feel a bit more sympathy, however, for people that made perfectly reasonable economic decisions but have just been hit by this economic downturn -- lost jobs, plunging home values, etc. For these folks, the problem is more transitory in nature, and assuming the economy picks back up and jobs return, giving them a little bit of relief now could actually do some good in the long run. If you're a hard working person who can't make your mortgage payments on account of losing your job, I don't know that it does the banks, communities, or really anyone any service to toss you out on your ass as long as you're making an effort, at least for some reasonable period of time.

There is a limit to this, of course, and at some point, good intentions are no longer sufficient and you've got to foreclose on a property no matter what. The reality, however, is that foreclosing on properties hurts more than just the person losing his home. Every time a home sells for less than it should, it drives down the value of the other homes in the community -- and then the bank has to figure out a way to absorb that loss, and you better believe it will be passed back to consumers. If there's a way to forestall that temporarily by deferring payments or accepting smaller amounts in the short term, I'm all for it.

[floridaorange]

Re: Economic Suicides Megathread

^along a similar vein, I would add that our society in general needs to be better stewards of our money, more mindful of how we spend and not perpetuate greed and excess by buying things on credit.

If you had talked to older generations years ago during the real estate boom, you would hear them talk about how inflated the prices were and how it would not last. Many of these same individuals from our grandparents generation also only buy things with cash because their parents were raised during the great depression and know what bread lines are like.

I am sympathetic, but younger adults need to listen to older generations more, evidently. But of course hindsight is always 20-20.

[Shpira]

Re: Economic Suicides Megathread

Hmmm...I think its a societal phenomena... buy the "newer, bigger, better" piece of shit to replace the old piece of shit. I for one would NEVER take out a loan or a credit card for a day to day purchase. IMO the only reason someone can justify borrowing money is to make money not to buy a fucking car or a speed boat or whatever. . .

I know most of you have done that but its something I will most likely never do.

[Miroslav]

Re: Economic Suicides Megathread

Hmmm...I think its a societal phenomena... buy the "newer, bigger, better" piece of shit to replace the old piece of shit. I for one would NEVER take out a loan or a credit card for a day to day purchase. IMO the only reason someone can justify borrowing money is to make money not to buy a fucking car or a speed boat or whatever. . .

I know most of you have done that but its something I will most likely never do.

Then either you are a millionaire already or you never plan to buy a house in your life...cuz even modest homes generally cost more than you can fork over from your pocket.

[Shpira]

Re: Economic Suicides Megathread

Ahm, ahm...the first one
Anyway...buying a home is an investment generally...while buying a car or a jet ski is not.

[Miroslav]

Re: Economic Suicides Megathread

Ahm, ahm...the first one
Anyway...buying a home is an investment generally...while buying a car or a jet ski is not.

must be nice. My point was just that for those of us who aren't, some kinds of debt are necessary and appropriate at certain times in most of our lives.

[floridaorange]

Re: Economic Suicides Megathread

trust fund babies in the hizzle

[Shpira]

Re: Economic Suicides Megathread

must be nice. My point was just that for those of us who aren't, some kinds of debt are necessary and appropriate at certain times in most of our lives.

yeah I agree...like house, education etc...but luxuries are not a good reason to go into debt IMO