Who really cares?

What ever happened to living within one’s means?

I say we finish the process once and for all, by stopping payments to any creditors…and yes, you read correctly, I advocate that all Americans who owe money simply stop paying their creditors.

We need to realize that true wealth is not created by selling little, worthless slips of paper to the unsuspecting next guy.

hmm you must not work in the housing industry.. they are frozen.

Well I said it before but here goes again. I am just glad that the angry small towners like myself can cling to guns and bible. If things get too tough I can still hunt for food. Let er rip

Most consumers are not aware of the credit market status, particularly when its curial to our everyday lives: grocery shopping, car payments, business credits, etc. Should the Credit Market freeze; purchases made by credit cards become useless; and not accepted. Parents attempting to secure a Student Loan for the College bound child, are refused. Potential car shoppers are rejected if they can’t pay in full with cash. Its imperative for Americans to study more on the subject matter.

They already are and have been for awhile. Try and get a loan now, even if you’re qualified. It’s all but impossible and surprisingly it has been and will continue to be mostly small business entrepenuers who have the hardest time with this.

I’m not terrified. No matter what happens this week, it will take time to allocate the funds (or print the money) and then actually inject it in thte market. I think there is exagerration on each side.

What terrifies me are these goofballs like Barney Frank working on these serious issues. That’s what scares me.

What frightens me though is how can this proposed solution ‘fix’ it and what happens if it doesn’t. If we are heading towards the ‘Armageddon’ then i’ll just enjoy what time we have left.

Congress would like you to be terrified. That way they can continue to abuse us. They caused the problem, not the banks. It was greedy Congress who where to busy buying votes with promises of home loans for people who were unqualified.

They started this back in 1977 and exacerbated the problem in 1992 under Clinton, by forcing banks to increase the percentage of risky loans so Congress could claim they increased home ownership of minorities.

Bush and the Republicans tried to increase the oversight and lower the percentage of risky loans, but it was blocked by the Democrats every time.

You will not like what I have to say about credit freezing up. It needs to freeze for a while to purge the excess in the economy. There has been loose money policy by the Fed for 2 decades that has caused the average American to spend 120% of their income. That is where the real bubble is. It has caused rampant inflation and a little deflation would bring down the cost of living to be more in line with wages.

If they want to boost the economy they should actually do something that will bring growth and jobs. Like cut the corp. income tax in half and suspend the capital gains tax for 5 years. That will bring jobs back to our shores, instead of throwing more money at the problem causing more inflation.

I have been self employed for 21 years so I know what grows jobs. I saw this coming and 6 years ago got out of debt, I suggest everyone else do the same.