'Boomers'/Western Middle Class - scum in human form?

the bailout for the middle class is smoke and mirrors.

Loan mods are mostly a few years of lowered rates.

Very few refi's are being done.

Call the lenders, most of them don't even have an obama program in place yet.

Unless it was an fha loan - not much of a break is being given to most upside down borrower.

This whole workout is desgined to bailout the banks.

A real middle class workout would force the banks to release the borrower from the deficiency and we could get the weak hands out of houses they can't afford. Instead we are seeing policies which will create years of housing price instablility.

It is difficult to get the lenders to release the deficiency when they have a right to collect it.


This is all bank bailout.

And the the intent is to create so much inflation - wages rise and make the assets less toxic.

Inflation is a tax.

So the whole country is getting screwed to save the lenders.
 
Great rant, although dumb investors were not the sole, or perhaps even primary, reason for the inflation of two bubbles. Save some vitriol for the central banks of the world, who have systematically cheated savers out of any sort of honest yield on their savings for two decades. This distortion in the value of money drove the malinvestment (bubbles) as middle class savers were forced to chase yield and take silly risks in order to realize a positive real return. Massive failure of the monetary system. The problem is that most people don't understand this simple fact, and as a result, they whine for government bailouts and safety nets.

But I agree that nobody has the right to extract wealth from innocent bystanders simply because they were financial losers- even if it was the government mandated monetary system that encouraged the stupidity.
 
Quote from hoodooman:

Cutten: I'll be damned if I spend one more year paying taxes through the nose to support these thieving hypocritical scum.

Great!!! Now what's your plan.
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I am expatriating in a few months.
 
Quote from Hombre:

I basically agree with you ( I am just not that angry about it )

To stop paying US taxes you will have to ex patriate ,where are you going to move ? I am 100% serious , not mocking you in any way.
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A low-tax area in Europe. Btw I am not a US subject so the tax will stop as soon as I relocate and set up an offshore corp.
 
Quote from hofficita:

Great rant, although dumb investors were not the sole, or perhaps even primary, reason for the inflation of two bubbles. Save some vitriol for the central banks of the world, who have systematically cheated savers out of any sort of honest yield on their savings for two decades. This distortion in the value of money drove the malinvestment (bubbles) as middle class savers were forced to chase yield and take silly risks in order to realize a positive real return. Massive failure of the monetary system. The problem is that most people don't understand this simple fact, and as a result, they whine for government bailouts and safety nets.

But I agree that nobody has the right to extract wealth from innocent bystanders simply because they were financial losers- even if it was the government mandated monetary system that encouraged the stupidity.
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I agree there are lots of targets but it is the hypocrisy that is unique to the middle class - they actually think they are poor unfortunate victims who did nothing wrong.
 
In the sixties they called the Boomers the "me" generation and blamed it on Dr. Spock.. they [we] sure wreaked some havoc...
 
It's all been downhill since they impeached the greatest president in modern times.

nixon5
 
uhhhhh, Americans are citizens....not subjects...

I wouldn't expect a mercenary mentality to understand the difference...

Quote from Cutten:

A low-tax area in Europe. Btw I am not a US subject so the tax will stop as soon as I relocate and set up an offshore corp.
More...
 
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