Frisco said:
I agree with Lone Cowboy, that we were headed for self-correction, until the government decided to "fix" it and save us from ourselves. It only delays the inevitable. I believe, after the stimulus money and the government bailouts bills come due, our country will self correct. Our cost of living (food, fuel, and housing, whether renting or buying,) will increase to where 50% or more of our income goes to sustaining ourselves. Urban areas will be hit hardest by this, but those of us who can raise our own food may actually be the wealthiest during this process.
When you see people crying about losing their homes (which makes me feel sad for them) I don't see victims on the verge of extinction, I see an American who should be able to pull themselves up by the bootstraps and start over. It may be humbling to have to sell all the TVs and other stuff in the house and move to a smaller place and live with what you need, but that's how this country started.
Handouts and Bailouts do not make citizens proud and productive.
there you have it Frisco-
prices will become real, not this imaginary inflated mess we are in,
life will become real,
land will become priced by what it will produce,
houses will become priced at what they really are, shelter from the elements, you won't see a "housing bubble" if things are real.
where did all the money go that was "lost" in the markets??
it wasn't there, it was all imaginary money, it wasn't real.
Comoditys, things that you can hold in your hands and haul in a truck, real things, will become what they are worth.
Yes times will be tough for people that have been living in this make believe world, but we will all become better and stronger for it.
who has any real wealth right now, the older generation who are depression survivors who have been living within their means in a real sense.working today and saving and building for tomorrow.
Doing it with money they really have,not borrowed.