In response to:

Prepare for Fiscal Doom

CVN65 Wrote: Nov 15, 2012 8:59 AM
I'd like some of that 1% interest money. I have amazing credit and make an income that places me in the top 1.5% of taxpayers yet the interest on my new home construction loan is 4% and that's at a variable rate. If we can get the principle down in the next year or two we can get a fixed rate. We hope we can do this before interest rates go up. If not, so much for the American dream and all that we have worked for- the bank will own it, having used nearly free money to get it.
Bob34222 Wrote: Nov 15, 2012 10:06 AM
How is your greed any better than anyone else's? My first mortgage was over 12%. Consider yourself fortunate.
Unrealistic Wrote: Nov 15, 2012 10:12 AM
I'm with you mine was 14% in 84.
Dreadnaught011 Wrote: Nov 15, 2012 6:07 PM

I'm sure hard times are ahead. (Wow, D i ck Tracy!)

So? I'll have to sell my gold bricks one at a time. That works for me.


SpaceVegetable Wrote: Nov 15, 2012 9:17 PM
Why is his fiscal prudence and success considered "greed"? Good grief. Can't anyone become successful and achieve his or her American Dream without being sneered at and called greedy? Tell me, what is the magic level of income that turns someone from "successful" to "evil rich greedy bast*rd"?

OK, perhaps doom is too strong a word, but then again, perhaps it is not. 

In either event, 2013 is not shaping up to be a banner year for the economy. And it’s not just or even mostly because of the fiscal cliff.

Our financial system is not stronger now than it was in 2008 when it finally collapsed under the weight of crashing real estate prices that fell all the harder because they were ballasted by plenty of government guaranteed debt.

In fact, prepare right now for the Next Great Bailout. Because this time around, the federal...