Now that home prices and the illusion of paper wealth is collapsing, will Americans start focusing on what really matters in life, and not money, physical possessions and the appearance of wealth?
October 13, 2006
HousingPanic Stupid Question of the Day
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44 comments:
No
keep on borrowing and borrow more.
Yes. I certainly hope that this marks the end of the horrid Bling Age.
"Now it's time ... to un-pimp ... the auto!" (VW ad)
That's an old pic of T. He's since given up the gold chains, to show respect for the poor in New Orleans.
But I always thought it had to do with slavery.
No worry, he's still Mr. T. The guy who cut down a stand of mature trees on his lawn without even consulting his horrified, affluent neighbors.
No way in HELL!
Nope, because we need to experience full blown third world conditions that'll eliminate all types of illusions of status/power via giving up society's power to that of big business types.
As long as third world conditions arrive in contained ways, this city/neighborhood vs another, kinda like the 80s rust belt of Erie/Detriot but not tech/finance centers like Boston/NY, then the illusions will persist and little will change.
No we Americans are all about material possessions, we are bread this way.
My 8 year old daughter asked me the other day when she is going to get a Nextel..8!! ya ok I said. ahahah!
“...will Americans start focusing on what really matters in life, and not money, physical possessions and the appearance of wealth?”
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Keith, this is like asking a person why he is climbing a mountain. For the people who understand, no answer is necessary, and for the people who do not get it, there is no possible answer that will enable them to comprehend why.
But there are some forward-thinking people out there, who are into voluntary simplicity and sustainability; people who realize that the quality of life is not defined by the quantity of one’s possessions.
Will the materialistic, money-worshipping masses turn from the direction they are heading in, and come join this movement? Don’t hold your breath.
-Mammoth
the Doors said it best " we want the world and we want it NOW " I hope people get more real, but it will take some time. First thing is to get out of the car, it make people aggressive and angry. People don't talk to the people they drive by. If they rode by on a bike or set by someone on a bus there is communication and that is key. We need to be a community not island in are cars and homes. Its all about people.
We're like a fat hamster running in one of those wheels. As long as that wheel keeps turning, everything is OK. Nobody cares anymore that the hamster produces almost nothing but waste and a little noise. The turning wheel is all that politicians and economists look at.
Squeak-a-squeak-a, squeak, don't ever let it stop turning...
NO - our country lost its soul when it voted in bush. its every man for himself
Yes and don't hold your breath.
Some people may be unable to learn the way we do, they must learn the hard way. Standing on the RR bed shouting for them to get off the tracks before the oncoming train hits them, only stresses and distracts us. It does nothing to help them, since they need the crash to learn and go forward.
It isn't our responsibility to wake them up- hard to get completely past that. In fact if they woke up before they had sufficient maturity to handle things, it would just make the situation much more difficult.
It is our responsibility to get to work on sustainable solutions; it is hard to imagine that several million immature panicky people are going to move us further towards that goal.
Denial can be a useful coping strategy. Is there any one of us who has not been deluded or fooled by something in our lives?
What did you learn from that experience and how did you learn it?
"NO - our country lost its soul when it voted in bush. its every man for himself"
Yeah, sure thing, it's all GWB's fault. Like he was Pres during that dotcom thing in the '90s. Grow up asshole, this started happening long before Bush was sworn in.
GW Bush is still a faggot little bitch, no matter when this thing started.
Collapsing? Hardly, home prices have barely budged in most of the country this year, with just minor price declines (11% in the most dire areas). My own region, Washington's Puget Sound, is still blissfully unaware that the bubble has popped. Inventories are rising and sales are declining, but most people in the Seattle area still cling to the dream of paper wealth they've accumulated over the last few years with appreciation, and believe that the party will go on forever.
When housing prices actually start to fall in earnest, I fully believe people will start to care about the more important things in life again. But not yet... Not until real estate prices really start dropping (by 20% or more) everywhere.
Right now, it's still too easy for people to dismiss the recent decline as an anomaly.
HAHAHAH!
http://tinyurl.com/y4tyo5
MY LIFE has improved since I started my quest to make my family debt free. I feel like a huge weight has been removed from my shoulders.
I could never go back to accepting loads of debt as normal. This feeling is too good,
WHat the hell do I care if Jones still wants the bling?
Hey Richard,
Are you going to play nice today. No more threats to people ok.
What amazes me is that most people realize something is dreadfully wrong with America today, yet they can't put their finger on it.
What do you have to do to brainwash someone??????? Repeat the same thing over and over ond over again, preferably in a few different ways.... How do most people form their opinions today?
The public fools system is one of the earliest influences, and what is their doctrine like today? Well, most of what is in the history books are giant ___ lies. History was written by the victors after all. The rest of the doctrine consists mostly of guilt tripping evil little white kids into being self-loathing mental cases. They are really hammered with all the bad things their ancestors have done, while never being told about the historic achievments of their ancestors (like creating most all of the modern world as we know it). They are told all about the great achievments of other cultures repeatedly though. You see a trend here? I do.
And as the evil little whiteys grow up, they do little more than watch the T.V. (oh man I'm struggling mightily to not make a reference to what rabbis call the most holy book). While watching this electric toilet, they are having all the ideals that were taught to them in the fools system reinforced on a daily basis. The clay minds are molded into what the artist wants them to be. When they age a little more, they have kids and become the very first influence for a new generation. The new generation can then have all the same scams run on them, as soon as most of the people old enough to recognize them die off.
Never bet against the American consumer. . .I am afraid that they will spend (see today's retail report) and spend. . .housing prices will not impact that - they will borrow on their paychecks, sell the family silver at flea markets, etc. Even I am surprised by this. BTW - from here in Europe on holiday, I see lots of new construction in Germany, Switzerland, Belgium, etc. . .the German economy is picking up, so perhaps Euro Zone WILL pick up the slack if the American consumer slows from the fast lane.
Some people purchase things not because of utility, but because they think it improves their apparent standing in society. They measure themselves and others by what they have, not what they are. Rather than being thankful for what they have, they are envious of the neighbor and his overchromed Hummer or Escalade, and his 5000 square foot McMansion.
Rather than say "Cool, I've got my Camry, and enough money to maintain it" they think "I'm deprived because I don't have a huge, expensive, truck which I can go out to the desert and squash 'dillos with".
Perhaps the paper collapse will at least force an assessment of what is important in life. I'll bet people will be more concerned about being able to buy food and keep a job than whether their stuff is better than their neighbors.
If there's a major turn in thinking, GDP will tank big time as people shift their thinking from "spending" to "saving". As people spend less, a deflationary spiral will set in. As prices drop, people will wait to spend. It is a vicious cycle, and I don't know if the Fed can shovel money out of the black helicopters fast enough to counter it.
On that note, pick up the phone and call someone you love, and **tell** them how much you love them. Write a letter to a dear relative, or reconcile with someone you've had a spat with. Plan for the future, but worrying about the future is pointless, and having regrets about the past it pointless, but there's things that you can do now.
sticking it to your fellow man is the world's oldest profession - i think it is sibling rivalry on growth hormones. it's not an american problem or a bush problem or a pub'can or 'crat problem. it's human nature and hard wired into each of us - we compete with each other as children for everything Mommy can provide and it goes on and on even when it doesn't need to as adults. i'd venture to say that deep down people who are driven to that end may tend to be a little insecure in their positions. it's a hard wired "problem" but it is also part of what allows us to survive. like Jerry says about George "he didn't make it out".
Some people purchase things not because of utility, but because they think it improves their apparent standing in society.
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Agree I have to go out today and buy a new Toilet Seat, my 8 year old was standing on the(new one)and she snapped the plastic bolts that hold it onto the bowl. She climbs it so she can see herself in the mirror to do her hair, I dont know how they keep breaking? (lookS like quality Plastic to me!) NOT! if she weighs 50 pounds she would be lucky LOL!
Anyway Will this improve my social standing No!, but it will sure make my ass happier.
On a side note this is the second one in less than a month..
...KIDS!!
I never understood why people wanted to accumulate debt outside their mortgages. Hell, I want to loan money to some idiot for 15% per year!
The Boomer generation was spoiled by the affluence of the 1950's even though many boomers grew up in small houses, poorly constructed.
There was even a song about how bad the WWII generation's houses were. It was called, "Little Boxes." I guess the kids were ragging on their parents for having such nasty little homes. But, they raised many more children in their "Little Boxes" than the Boomers ever did in their sterile McMansions. I guess if you grew up in an environment that presupposed growing wealth, like in the 1950's and 1960's, you would just gravitate to better accomodations than what you had as a child.
I hope to outdo my parents and grandparents in one respect and that is to have more children than they did.
those little boxes are on the market for 500k+ in vienna virginia.
zip code 22180. check them out on ziprealty, it's crazy.
You've got to be kidding me. American are resiliant folk. They will continue to obsess about material posessions, regardless of their paper wealth.
Re: toilet seat repairs.
You can get these plastic stools that your kid can stand on - that might save the bolts on seat #3 if she stand on that rather than your toilet.
The ugly job is when a toy or toothbrush is missing, and the toilet seems to clog really easily, and needs plunging all the time. I'm convinced that plumbers really earn their money.
Muhammed Saeed al-Sahaf said...
Re: toilet seat repairs.
You can get these plastic stools that your kid can stand on - that might save the bolts on seat #3 if she stand on that rather than your toilet.
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Yup to funny there m8 I was eyeballing them as a matter of fact I was going to buy one of those after work..great minds think alike :)
No.
tj
Here is a stupid question .. I rent, drive an older car, live within my means and have quite a bit of money in diverse but static mutual funds.
... Should I worry?
Hey Brian - here's what Bush has to say about you driving an older car that you can afford.
"Since I've been President, we've spent about $10 billion on research. A lot of goes through Sam's shop. He's the Energy man. (Laughter.) We will vigorously pursue new ways to power our automobiles. If you want to get off oil, the surest and quickest way to do so is to change how we power our automobiles. We consume a lot of oil, through gasoline. And the more inefficient our cars are, the more we drive old clunkers, the more gasoline we use, which means we're more dependent on oil."
Better run out and buy that $40,000 prius to make ol' W happy.
"I hope to outdo my parents and grandparents in one respect and that is to have more children than they did."
Hopefully you will be sterilized before you can accomplish that. There are far too many idiot humans in the world as it is.
The only thing I can say, is if Mr T actually sold all his gold chains, he's got a pretty awful investment advisor.
“This crazy fool is talkin to his hand again. It's beginin' to get on my nerves.”
“Shut up Murdock, crazy fool!”
Mr. T
"Our error was one of over-estimating the good sense of our fellow man. He is a bigger blockhead than we ever thought."
Mogambo Guru
Nope. The housing crash will not make people any less of a consumer. Some of the poorest are some of the most consumer crazy folks ive seen. The opposite side of the spectrum is just as ridiculous. Consumerism transends economic ability. After the dot bomb era people kept buying. as soon as they could again after the depression people were buying, people dont even need money to buy today anyhow when you consider the nations household debt.
it is in many of us from childhood to have the same thing or better as the next guy. society and media can very easily make some of us feel less than adequate unless you too can display some sort of wealth (car- house- jewlery- clothes- 100" televisoins that fry the ever shrinking brain). To relieve yourself from this anchor around your neck is to start living a much richer life. There are a few out there that have seen both life styles and ultimately chose simplicity over visual assurance of one's wealth.
Muhammed Saeed al-Sahaf, I missed your comment. I believe you see the situation clearly. If only people would have a little more human touch in their life they wouldnt care about the escalade.
I found The Millionaire Next Door enlightening on this subject. The high-earning, high-consumption families' actual wealth or net worth was close to zero, while Joe the Buick-driving immigrant with a welding business in the modest house next door has a million in the bank.
So, people will still obsess over the appearance of wealth, as you put it. But the financially prudent will continue focusing on what really matters in life - just as they have all along!
If it's truly Great Depression Reloaded, there will have to come a point where we give up chasing chimera and get on with enjoying life. But we tend to hang on as long as possible. So - a qualified "yes"?
NO! American's are a hard-headed lot.
If Kieth is so smart why hasn't he recieved an endorsement from Legg Mason, Warren buffet, or Dogcrap Green?
"Advise letting Richard EFF that Guy UP."
too funny!!
Hey Richard,
Are you going to play nice today. No more threats to people ok.
get off the crack pal
How 'bout my boss (a builder), with a $25k+ Rolex, $75k custom sandrail (dunebuggy), w/ $35k toyhouse trailer, and on order $109k custom speedboat...all purchased within last 18 months!
What's all that going to be worth when 'it' hits the fan?
His business is in San Diego!
"NO! American's are a hard-headed lot."
Don't you mean bonehead?
Better run out and buy that $40,000 prius to make ol' W happy.
A brand-new Prius costs about $24K, not $40K. I should know as we bought one with cash recently. It replaced a 14 year-old car, so was not a luxury purchase by any means.
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