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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (27472)	3/15/2010 2:05:58 PM
From: Real Man	Read Replies (2) \| Respond to of 71456

You'll be surprised. Most folks are now losing homes financed with prime mortgages to foreclosures because they got laid off. They then move straight to Tent City Hoovervilles. The debt infection has long infected PRIME mortgages, and that problem is now bigger than any Alt-A bubble loan resets that are still coming. Nobody can relocate either because it is impossible to sell your house. For Joe 6p you are not talking reward, rather, a lifeline. Or do they deserve to die? I seriously doubt they are criminals.

To: DebtBomb who wrote (27472)	3/15/2010 4:14:06 PM
From: Horgad	9 Recommendations Read Replies (3) \| Respond to of 71456

If you don't have a safety net and/or other protections for the masses and you let sharks offer them up financial traps to suck what they have from them, eventually what you will end up with is destruction of the middle class, social unrest, and a country that will be a miserable place to live....unless you enjoy and can afford tall walls, armored transportation, and 24 security. So your view to just let the stupid, greedy, poor and middle class take their lumps and be ground back into the dirt and dark ages where they came from may be fair but is impractical. At some low level at least the weak need to be protected by the strong or all goes to hell. All the punishments in the world heaped upon the masses won't change the fact that the masses are vulnerable in any society that allows stronger groups to take advantage of them and that a society that allows its masses to hit rock bottom will in fact hit rock bottom itself...

To: DebtBomb who wrote (27472)	3/15/2010 5:06:29 PM
From: Lazarus	5 Recommendations Respond to of 71456

I have been helping a guy (happens to be asian) who had multiple houses and only ONE, the one he lived in, was not paid off. During the recession he had to refi paid off homes to raise cash. His retail business went into the toilet and he has recently shut the doors. He is bankrupt. He lost his 5/3 home that he paid over $500k for (with a hefty down payment) and moved into one of his rentals - a 2/1 (790sq ft) that would have sold for around 50k. He is one of the LUCKY ONES because he actually had a home to move into, even though after 13 years as rental it was thoroughly trashed, at least he has a roof over his head. This is a hard working guy. He thought he was fairly well situated (and he was) but this economy has just beat him down to next to nothing. There's plenty of hard working folks just like him who have worked hard for everything they have and losing it all --- little by little.