Friday, October 10, 2008
My econimic view
Yeah I know there is something wrong with the economy. Greedy people fucked it up and now shit is worth less than it used to be.
The DOW reported that it was down to its lowest point in 5 years yesterday (10/9/08) for those in the future. Let me see if my feeble semi mentally retarded mind can shed some fucking light on this.
It was about 8 years ago that we first started hearing about the flex mortgage plan…give or take a few years because I am too fucking lazy to get on google and find out for sure..but it was about 5 years ago when it really started taking off. How do I know this? I know a couple of people, and I know I am probably not alone here, that got caught up in the “right” of home ownership and went out and got one of these fucked up mortgages even though they knew that couldn’t afford it.
So with my crazy gorilla math, wouldn’t that mean that this sudden down turn in the market is just taking the overblown portfolios of the greedy fucks and making it all better adjusted to the actual value of the company, homes, non stupid people who thought home OWNERSHIP is a right and not a privilege? That Big Business committed fraud to increase the value of their stock to line the upper echelon’s pockets? Complete companies created that do nothing ala Enron?
When you pour a beer you get a head of foam on it. If you let it settle down all that fluffy foam will be gone and you will have just beer! Just what you ordered, it looks like less, and it isn’t ready for a picture on the cover of Rolling Stone, and it will tastes worse than if you would have drank it with the head still on it. However the true value of that beer is shown by waiting until the foam has settled.
I just wish our government would NOT do the bailout, and I would LOVE you see all of the people who bought outside of their means, have to move back to the interior corridor, maybe then there would be enough people to keep urban crime down and get better communities developed so we can have better schools that will attract better teachers who will teach kids that when they get old enough to buy a house they know how to read ALL of the words and understand when they are being LIED to by some slick fly by night mortgage company…or stock broker like in that crazy movie Boiler room.
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