monday1929

Marc Faber on the Economy, Gold, WWIII

taking personal responsibility is fine, but don't fall for the Wall Street Criminals who are trying to re-write history and spin the facts with, "There's plenty of blame to go around". The criminal Ratings agencies, banks, politicians, and regulators need to be tried for treason and hung if found guilty. They looted trillions from the economy. If someone lied on their mortgage application etc. punish them also.although losing their house might be punishment enough.
The banks and regulators who primarily caused this are being given more money and power. That is also a crime.


On Jan 07 08:27 AM whisperonthewind wrote:

> We can blame others (governments, banks, big oil, etc.) until the
> skies turn polka-dotted, but at some point we have to accept responsibility
> for the things we each do for ourselves and TO ourselves. WE the
> users went for those adjustable rate mortgages. WE believed the hype.
> WE didn't pay the mortgage. WE lost those houses/cars/boats. The
> government here is such that it makes things available, but no one
> forced anyone to sign the papers. WE did that. WE refused to read
> the papers. WE refused to do the math. WE refused to ask the loan-makers
> to show us the numbers on paper. WE refused to listen when the interest
> rates were going up. And WE liked it, because our house values were
> going up at the same time. WE wanted higher values for our houses
> because we knew it would make us rich when we sold to some poor sucker.
> The blame lies with each of us that made those stupid mistakes.<br/>
>
> I've been criticized by friends for living in a cheap apartment,
> not buying new furniture, not buying a new car, not taking that second
> credit card, not buying new clothes. But now, my rent is affordable,
> my heat is free, my lights are cheap, my car is paid off, my credit
> card carries a balance that will be paid off next week, and my furniture
> and clothes are still just as good as they were. I won't have a house
> to leave to my kids (and they won't have to try to sell it), but
> I will have money. The funny thing about money is that kids young
> and old like it. And they like it more than Aunt Gerda's antimacassar
> and Uncle Herb's rickety rocking chair.
>
> As a nation, as independent and FREE thinkers, we need to begin to
> take responsibility for our OWN actions, we need to stop whining
> and blaming everything else for what we have brought on ourselves.
> Housing bubble or not, global warming or not, it isn't important
> if WE don't take responsibility for ourselves. I'm tired of listening
> to everyone place blame.