It’s shit like the above that got us where we are today… in VERY large part.
Tuesday, December 02, 2008
A Stupid Question
So… it’s said “there are no stupid questions, but there are LOTS of inquisitive idiots.” It’s in that spirit that I’m wondering… (a) if we’re (supposedly) in the worst financial crisis since The Great Depression, and (b) if the credit markets have dried up and financial doom is imminent, then (c) why the Hell am I still inundated with all those damned Ditech ads on my teevee? Hasn’t everyone who is anyone already re-financed or defaulted on their mortgages? {Accompanying mental image: head scratching. Lots of it.}
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Buck, yeah I have been seeing these as well and wondering. I myself have not seen all the economic downturn that the media has been touting. Not that I don't think its there or on the way at least. But I live near some fairly large Mall complexes (I dare say the one in King Of Prussia is the largest in the country) and they were packed this last weekend. And the Jobless numbers are just now getting up out of the area that is considered "full employment" so, very low fuel prices - I am not sure there is a economic crisis. Not that there isn't one right around the corner but, the way the Media and the Politico's talk you'd think it was 1934 again!!
ReplyDeleteI just wish the Congress would keep their hands out of things and let nature take its course. Things integrated into our life like the Credit Markets and Economic policy get stronger with the taste of failure, the correction applied by the burn of loss can only make things better. Nancy and Co. just want to string things along ensuring that many generations of Americans will have to work hard to pay off all the debt they are putting on us. Such a shame.
BT: Jimmy T sends.
If the credit market is so shot, why am I getting at least 2 credit card offers in the mail nearly every day? I swear, one day last week there were FOUR from Capital One!!
ReplyDeleteit's a fast and easy way to permanently bugger your one largest investment!
ReplyDelete125%? Outrageous.
I cringe when the Ditech commecial comes on only to then see a commercial talking about a person's bankrupcy options. Fitting in a sick sort of way.
ReplyDeleteIt's just gonna get worse.
ReplyDeleteJimmy: I hear ya about most folks talking like it's 1934. But what scares me is the near unanimity among all the politicos... Ds and Rs... that sez "yes, it really IS bad out there... worse than you know." The only place I've actually felt the recession is in my 401(k), and it's down significantly.
ReplyDeleteI have mixed emotions about the concept of "let it fail", primarily because I remember my father's tales of The Great Depression. If there's anything the gummint can do to prevent a re-occurrence, then they should do it. Slippery slope, tho.
Jenny: I hear ya on the credit card offers... they're still filling up my snail-mail box, too.
Phlegmmy sez: 125%? Outrageous.
Exactly. But Hey! some people NEEDED a new boat/car/trip to Europe/whatever.
Michelle: I see those bankruptcy ads in these parts, as well.
Pat: Worse? Probably. Depression? I certainly hope not.
I posted a comment here yesterday, but blogger did one of those "sorry, your comment was lost in cyber space" things. I had mentioned the ads where people say they owed 150 thousand dollars to the IRS, but whatever-company was able to help them. My thoughts: how did these people come to owe the IRS so much money? Why are they not in prison for tax evasion? Something about this really bothers me - kind of like big auto companies wanting to be bailed out.
ReplyDeleteLou, I thought the EXACT same thing! HOW can one rack up that much to the IRS!?
ReplyDeleteLou: Ditto what Jenny said. Those "back taxes" ads piss me off to the max, as well.
ReplyDelete