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I should use this as justification for why I don't need to go and spend a lotta dough on an engagement ring...in my mind, not a good use of funds in these times...
No need to justify. Not a good use of funds anytime. An inexpensive engagement ring works just fine.....anytime, good economy or bad economy! An expensive engagement ring does not assure a long happy marriage. Alot of financially irresponsible idiots can vouch for the truth of these words! Ah but the diamond industry has been successfully hoodwinking the gullible for many many years. Maybe the bad economy will put those shysters out of business.
Last edited by CosmicWizard; 12-04-2008 at 08:16 AM..
Guns can indeed be very useful. I'm not saying that it's better to own a gun or not own a gun. It's a personal choice. I do however find it interesting that a person owning a gun is far more apt to have a NEED to use it than a person who doesn't own one.
That's a thought provoking philosophical (even metaphysical) thought. I don't discount that entirely. On the other hand, if our economy gets to depression era levels, there will be violence and disorder. If you have property and loved ones to protect you should be prepared for the worst.
Shuffler wrote:
Guns can indeed be very useful. I'm not saying that it's better to own a gun or not own a gun. It's a personal choice. I do however find it interesting that a person owning a gun is far more apt to have a NEED to use it than a person who doesn't own one.
I am also not saying whether it is better to own a gun or not own a gun, but it is interesting to note that many people without guns in their homes are known by another name - victim.
I'm hardly an ostrich, and I think you misunderstood my point. My version of not looking for trouble is living very quietly and staying under the radar. Flashing wealth is a good way to draw the wrong kind of people into your life, especially in a time when so many are hurting. I don't need to load up on ammunition when parking the nice car, putting away the jewelry, and staying away from the high-end shops can minimize my risks. Better yet, why not just do without those things altogether? That's been my plan all along, and it serves me well.
OK, I'm sorry then. I transferred what I understood Wiz to be saying to what you were saying. And I was in an extra-cranky mood, having had just spent hours helping some friends and family members deal with some of the personal-level fallout that is materializing from this mess we're in.
Quote:
Originally Posted by formercalifornian
I think you, me, and Cosmic agree much more than we disagree.
We do. But don't let on to Wiz that I said so.
Back to the topic of personal-level fallout...the emotional price exacted on someone who is caught unprepared for what is happening can be pretty staggering. People that outwardly appear as intelligent and responsible can turn out to have been doing some rather dumb things with their personal finances. Something as predictable as a layoff and the prospect of even a few months out of work quickly turn into what looks like a sleigh ride into h*ll to the tune of Mike FBE's little Christmas ditty. I think that many of those who did prepare are going to have similar painful experiences of seeing others close to them suffering from the consequences of a lifetime of poor financial choices in an environment that will magnify them to excruciating levels of intensity while affording no easy solutions.
After this week, I'm ever more convinced that the ubiquitous Home Equity Line of Credit (HELOC) is the devil's spawn. I saw a bumper sticker on the road some weeks back that said "Bankers Suck." I've got to go buy myself a couple of those.
I saw a bumper sticker on the road some weeks back that said "Bankers Suck." I've got to go buy myself a couple of those.
Get an extra one for me Bob. I'll pay ya for it.
Consider_Again wote:
I am also not saying whether it is better to own a gun or not own a gun, but it is interesting to note that many people without guns in their homes are known by another name - victim.
I've never had an inclination to own a gun, and the only time I've ever shot a gun in my life was in the air force. I qualified by hitting 58 out of 60. On some level, I must be puttin out the vibe, Don't mess with me, I'm a damn good shot! I've somehow managed to ride this planet for the last 60 revolutions it has made around the sun, without being a victim. But that's just me and I'm nobody special.
The Fed/Treasury proposing a 4.5% mortgage rate is pretty depressing to me...how about you folks?
Pretty stupid all around, IMHO. If lowering interest rates was enough to right the boat, the housing bubble would already be a footnote in the history books.
On a tactical level, they just screwed sales for the next month, as anyone seriously contemplating buying now will wait to see what happens. Another smooth move by Larry, Moe, and Curly...er, I mean "W", Hank, and Ben.
On a strategic level, if they were to actually go with this and you're one of the few out there with a down payment, stable job, that hasn't already bought a house, and you buy at an artificially elevated price due to a subsidized 4.5% rate, you'd better be planning on staying in that house for a decade or more. If you need to sell before that, you're almost certain to find that subsidy long-gone, with higher rates driving prices back down and further reducing the pool of available buyers. In other words, you set yourself up for a loss and/or being stuck in the home when you need to move.
Personally, I think this is all just posturing to affect consumer psychology going into the already sagging Christmas home stretch.
One thing for certain...the gov't (Treasury, Fed, FDIC, FHA etc) has a proven "Reverse Midas Touch" in the financial sector...everything they touch now turns to s**t.
Until prices are driven back to affordability--~3x annual incomes--creative financial engineering like this would just be repackaging market risk into a not-so-recognizable form for a new group of lemmings.
Debt is Dysfunctional
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