Procreate101's Blog

The insanity of the housing boom made it's mark,,no doubt about it..The Greed of Local and State governments both extended , and by virtue OF that extention, magnified it's negative Impact when it Ignored the warnings of those who proclaimed that this Purely artificial Boom could NOT sustain itself indefinately..

It was ONLY a matter of time before sanity prevailed and the Market, which would have recovered all by itself anyway,is doing so in the time it is...

The GREATEST danger Now is the spurious Doomers and Gloomers convincing the Public of an imminent financial collapse..Many are the Factors that insure such an occurrence but NONE are more effective at ACTUALLY bringing it about then are the Doomers and Gloomers convincing a Public,,the ONLY REAL entity capable of offsetting and averting such a possibility, that it is USELESS to even TRY to do so…

It was BAD advice that convinced people that the boom could last forever with AXIOMS like “ You can NEVER lose money in Real Estate”,, it was GREEDY Politicians and others that CASHED in on that advice and it will BE the Doomers and Gloomers that INSURE that the lessons learned will be EVERY bit as Expensive as it is Long Lasting..

Beware the Self Fullfilling Prophesy,,, it is OFTEN the prelude to reality…..

ALL true and JUST as I said when I said that the market would recover all by itself..

However,,ALL this continued Doom and Gloom Forcasting, by the VERY same types of Experts that got us IN to this mess, can and will effect consumer confidence and Confidence by Consumers is the ONLY effective road to any recovery..

So, just shop till you drop, and do it on credit! Is that your solution?

The consumer needs to be more careful how they use credit, and to tighten their spending so they can put a little aside for a rainy day. I am fortunate, in that I have very little debt, and the debt I do have can be paid off today if need be. But even though I do not need it, I found myself carrying 8 credit cards, and all of them had a balance. I looked at what I was spending on, and realized it was wasteful, and only because I could, not because I needed to! I paid off all my balances and cancelled all the cards except one which was the lowest interest rate of 9.9%. Even though I contacted all the card issuers to tell them that I was cancelling the cards when I paid them off, they did not cancell them untill at least one, but in some cases two additional times being notified with checks coming in the mail weekly from these same card issuers trying to get me to take cash advances with these checks with my name on them worth thousands of dollars, and locked in at 9.9% for at least one year! It really bothered the chit outta them that they didn't have me owing them! They wanted me in debt to them! That is how they make their money...by loaning me money so that I can buy things I don't really need which i will have to pay back at more of a cost than the goods are worth, and sometimes not being done paying for the purchase until way beyond the service life of the item purchased!

So then you look at a family that is just making it paycheck to paycheck, living in a house that is worth less than they o

Face it michelle,,IF there was a CHANCE that the Doomers and Gloomers could POSSIBLY see ANYTHING positive,,THEY wouldn't BE Doomers and Gloomers in the FIRST Place...

WE have suffered MANY criseses in the past and WE survived them,,and we WILL do so again..

This "Sky is Falling ,,We're ALL Doomed" mentality is unnessary..

Finance is a finicky thing..EVEN in GOOD times a MERE rumor can spark a blip in the economy..THESE EXPERTS KNOW THIS...


YOU can BET that JUST like before,,and remember that these are EXPERTS in the field JUST like before,,that THEY stand to PROFIT from the fulfillment of their Prophesies..or THEY wouldn't be Pushing for this SO hard...

Liberals FLOURISH during hard times...IF those times are NOT there..They'll exhaust ALL their efforts to Create it..

Michelle,

I wasn't responding to you. I was responding to the bird's comment: "However,,ALL this continued Doom and Gloom Forcasting, by the VERY same types of Experts that got us IN to this mess, can and will effect consumer confidence and Confidence by Consumers is the ONLY effective road to any recovery.."

I hope foriegners do come and buy up the excessive inventory in housing as Americans are for the most part tapped out and would take a lot longer on their own to sop up the excess inventory on their own!

Bird brain...read above where I responded with your exact comment!

Please...mortgage the house to the hilt, run up debt to the max on your Citi card, go out and buy a new gas guzzling SUV on credit and then fill the tank of the SUV with the gas credit card! I want you to live the life you feel you deserve as an American!

Just don't whine to me when the bills come due!

bird,

Don't need to! It's right there in black with a blue background for all to see, along with my response. The fact that Michelle got caught in the middle was unintentional and was just a matter of the timing of the posts.

Facts are that you showed your lack of knowledge on this subject as you do on many other subjects, but try to defend your lack of knowledge by accussing people of things that they didn't do or say! You are a one hit wonder and your repeatition is getting old and stale!

I seem to get caught in the crossfire a lot lately. It's 5:00 somewhere, I think it is time for Happy Hour! Talk to you guys later. Don't shoot anyone!