Thursday, November 20, 2008

Who's Laughing Now?

Many of us in the real estate business opined that something was stinking up the grocery store. With land and house values appreciating by the double-digits here in the Puget Sound, those of us with some common sense started asking the questions, "Is this sustainable? Where are these people getting all this money? That punk jack-ass has a fucking Porsche?" I have known since late-2006 that something was going to pop. But I didn't think it would be this loud.

Money was cheap; too cheap.

Consumption, both public and private, financed with debt can be a real killer if left unchecked. Let's face it. Our government has been and still is spending us out of control. And we the consumers have been living beyond our means.

Bailing out Wall Street with money we don't have won't work, and using taxpayer dollars to save a private industry violates just about every free market principle known to mankind. Too big to fail. Bitch please. You want to know what's too big to fail? The people! The taxpayers! That's why millions of Americans like me yelled against the bailout (McCain you fucking tool.). But we the informed and intelligent are simply outnumbered.

Lending money to those who you know can't and won't pay it back, and then selling those securities with a AAA rating is fraud (THE GLASS STEAGALL ACT OF 1933 MUST BE REINSTATED!! Fuck you Bill Clinton, Phil Gramm, and James Leach!! JUMP MOTHER FUCKERS!!!). That's OK. We'll bail them out with our fake Monopoly cash. "Hey! You fucked up! Here. Have billions of future taxpayer dollars. Don't worry. We'll tax them even more, especially the rich ones."

So Congress continues to borrow, and continues to spend. Our national debt + unfunded entitlement programs top $50 trillion. Barney "I suck dick" Franks tells us how there are plenty of rich people to tax even more. And now we have a Communist headed to the White House. No wonder the Dow is sinking faster than the Titanic. In the words of the Grouchy Old Cripple, "We're Fucked!"

We were warned, however. There are still good economists out there like Peter Schiff. Put him in charge!!!!!!! Enjoy the video.


kerrcarto said...

To try to answer your question. The Democrats.

kerrcarto said...

Alot of Americans have lost the ability to stretch a dollar. I have zero debt now and I still have to stretch my dollars. Live within your means people!

CharlieDelta said...

To be honest, I don't know a whole helluvalot about this shit, but Peter Schiff is a fucking genius! I like how he puts it in layman's terms too. I agree, let's put someone in charge who knows WTF they are talking about!

I can remember when my Dad was helping me shop for my first car. I wanted one of those 16-valve VW GTI's and at 16 I obviously couldn't afford one. I wanted to finance it. He told me that only idiots buy things they can't afford. Fuckin' A!

I'm proud to say that the only money I owe anyone is on my credit card, and that gets paid off every month.

Bitchen post!

PeggyU said...

Paul: That was a cathartic rant! I'm too tired to have one myself right now, so it was uplifting to read yours ;) I've got real issues with Barney Frank. To me, he epitomizes what is wrong with Washington (the one on the Potomac). The perversion, the dishonesty, the greed ... all there in one smug, fudge-pounding package. I am disgusted.

Anonymous said...

"...all there in one smug, fudge-pounding package. I am disgusted."

ROFL!!! LMAO!!! What's in your coffee today, PeggyU?!

PeggyU said...

Glad I could bring a smile, Paul ;) That's the problem ... I didn't have my coffee. That's the withdrawal speaking. Coffee is one of the little luxuries of life I'm trying to back off on to save some $$$ where I can. Since I didn't work today, I figured few would suffer from my attitude.

I have to admit, I don't have a lot of luxuries to trim. I'm a fairly simple person, so I don't really have many indulgences! But I am rather attached to my caffeine. I think it helps me to focus!

Anonymous said...

I don't consider caffeine a luxury; its part of a balanced diet. I'm drinking some Millstone french roast right now. Would you like me to mail some coffee to you? I can order you a care package from the San Juan Coffee Co. We can't have PeggyU trimming the caffeine.

PeggyU said...

No, Paul, that's ok! It isn't that I can't go buy coffee and make it at home (I have a small coffee maker with steamer attachment, but it is kind of a pain to use). I do the bad thing and frequent this little coffee shop down near the grocery store. It's a little mom-and-pop business that has done pretty well, and they make a good mocha for less than Starbucks or Cruisin' Coffee or Woods. There are a few reasons (justifications!) I do it: 1) I was one of their first customers and they have always treated me well. 2) I like their product. It tastes good. My coffee just doesn't turn out as well. 3) They have donated to the causes I support (for example, Soldiers' Angels). Any time I have hit them up for a contribution, they have been generous. 4) It's a psychological "boost" for me. I spend much of my time cooking, cleaning, and waiting on other people, and it is nice to have someone wait on me for a change :). 5) It is fast: On the way to a job, or when I go to the store, I can swing through there and get my mocha. I definitely don't drink as much coffee when I make it myself, since that would mean grinding coffee, and setting up the machine, then cleaning up the mess afterward. 6) I figure this is how I get my calcium. Twenty ounces of mocha ... well, most of it is milk.

This is how I spoil myself. It is pretty much the only way! Don't eat out much, buy clothes, go on vacation, go to movies (maybe once a year), buy new cars ... no other luxuries, except basic cable. Really, we are pretty austere. So, we've managed to save well, and have been able to pay off braces, college, and other big expenses as they come. However, I am not looking forward to 2009. There is already some indication that my husband's employer may close the office he is working at. We've gone through that sort of thing before, and we go into what he calls "hunker down mode" where we eliminate the unnecessary stuff. Right now, my mochas are on the unnecessary list ;). So I am feeling sorry for myself.