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  • Posted By: reader9000reader @ 06/12/2008 12:20:35 PM

    To Ohmstede: Yes, many people live beyond their measn. They are not necessarily stupid. Inflation has outpaced salary for a significant number of occupations over the last decade. The financial institutions are among the most aggressive sale forces that exist, Way back in the 70's when telemarketing was big, banks did more telemarketing than any other business--selling loans to consumers, farmers and small businesses. Look at the ads on tv, the junk mail and spam. The offers for loans and credit cards are outrageous. My parents generation had repeated and strong message that acceptable consumer debt was home mortgage. My generation had mixed messages. The generation below me (I am 55) has an overwhelming message that debt is normal. Did you notice that as soon as the recent tax rebate/credit was passed that financial institutions immediately began advertising cards to spend the money without having to wait for the credit?
    Some people are stupid and/or greedy but many are not. The sad part is that the people who got sucked in are getting help, the lending institutions continue to pay bonuses in excess of a million dollars to executives and often several hundred thousand to people on the board of directors while the people who are saving and investing for retirement with a 100 shares of their companies or in mutual funds that own the companies are getting shafted as the stock prices plummet.

  • Posted By: barcincka @ 03/13/2008 8:21:18 PM

    free market queen has contradicted herself. You think the rich should be "given income by which to invest in the free market"?. You say debt is a bad thing, and people overspend what they are making yet it is the corporations, banks, large money lenders and the "rich" who have continually lived beyond their means and expect the government to spend more and lend them money because they spent beyond their means. You certainly do not sound like a true free market, fiscal conservative to me.

  • Posted By: ohmstede @ 03/07/2008 3:07:06 PM

    If people make stupid mistakes, they should pay and learn from them. Living well beyond your means is a huge mistake and when the bill comes, they should be made to pay. If I go to Las Vegas and bet 10,000 on something and loose, the Government should not bail me out. Same thing, people bet on their house going up in value and leverage them to the 9's, they bet, they lost, they pay.

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