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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: 10K a day who wrote (113060)	3/27/2008 11:24:52 AM
From: DebtBomb	Read Replies (2) \| Respond to of 306849

It's funny....people keep asking....how do we get out of this? There is no getting out of a debt bubble....the debt has to be paid or defaulted on. There is no bottom....it isn't going to go away. The debt is not manageable like Greenspan hyped, people are defaulting left and right. 1929 U.S./1990 Japan. When someone had asked me months ago....I said, relieve everyone of all of their debt and you can get out of this, LOL. And, now look at Congress, they want mortgage holders to reduce the principle owed to prevent some foreclosures....that's relieving them of their debt. Is that capitalism? If they do this, the mortgage holders and lenders will take another beating. It's just another reason why the banks might go down the drain. Take your pick....either the banks are going down the drain, or the homeowners are going down the drain, or both. There's no way out. It should have been prevented from happening in the first place. But, the masses are hard to control....they act like sheep and seek comfort in crowds, and they get swept up in manias quickly....and can't think for themselves. Money for nothing and chicks for free. Everyone is a speculator today and expects to get money for free. They speculated with their homes. Remember when a home was a place to live in and a place to raise a family. They turned it into an ATM machine and speculation vehicle, and lost. The media did their part too....they hyped the hell out of it. Everyone's going to be rich....weeeee. Housing can't go down. Housing can't be in a bubble. Cramer hyping TOLL....it's a land bank. TOLL Bros....we have visibility into 2010. Look at David Lereah's books from 2005 and 2006. photos1.blogger.com