March 13, 2008

Now that the sheeple can't fund their lavish lifestyles with cash-out mortgage refi's anymore, what will they do?

1) Spend less

2) Try to earn more

3) Keep spending like there's no tomorrow until someone cuts them off, going deeper and deeper into debt to buy crap they don't need and can't afford


Anonymous said...

Hey, Keith, here's an article in the Times about Red State Republican hicks in Birmingham, Al. getting raped in the ass by Wall Street bankers. This could end up being the biggest bankruptcy in history.

The meltdown is just getting started.

FredE said...

Does this mean people who are remotely passably thrifty will end out looking good?

Afterthought said...

The people aren't waking up fast enough.

Some have, other "low information" types have no clue that we are racing toward a historical global realignment.

The ignorance of our neighbors is DANGEROUS to US!

It should not be cultivated or countenanced; it needs to be fought.

Kudos to Keith for fighting the good fight; literally the best blog on the net.

Words of Wisdon said...


American people are F-ing fat, lazy greedy, stupid imbeciles.

'Put their sh*t out on the curb and let it rain on them'

-Paulie Walnuts - Gangster
The Sopranos

"The fundamentals are sound"
-George W. Bush #43
Worst President in recorded History

Anonymous said...

They'll go buy scratcher lottery tickets in the hope that they'll turn a dollar into 500.

Just like their housing ATM, it won't work.

Then they'll cry.

Then they'll call their therapist.

sfvrealestate said...

I predict a growth in the "How to Earn Extra Income Through Garage Sales" industry.

Anonymous said...

One word: Lawsuits.

the American Way

If you dont have the cash

Then SUE their ASS

Look for more and more bogus lawsuits everywhere, everywhere!

Its the instant lottery. Think Catholic Church.
Oh, I was molested by a priest.
Oh, I think it was about fifty years ago.
Do you know the name of the priest?
NO, does it matter?
NO, just make a claim, the Church is an open cash register, dont you know"
Its the American Way
And America sure has enough lawyers to bullshit this country into the ground!

Think about it. If you dont have the cash, if you cant withdraw any more fu&king equity, then sue, sue , sue!
Make a claim agaisnt a priest. If he's been dead for 50 years, all the better, cause the dead cant speak, now can they?
Look for lawsuits against all types of people, teachers, cops, doctors, you name,
Cause the rule of thumb goes- IF you throw enough shit up against the wall- SOMETHING is going to stick sooner or later- And then its all gravy till the grave!

eric in vegas said...

Those that have a little debt that they can pay down will choose #1. It's stupid to work more just so you can buy crap you don't need. Those that have no hope of paying off their debt will opt for #3. They should max out all their cards on Visa gift cards and grocery store gift cards before the CC companies reduce their limits to useless levels. That's what I told a co-worker that has no hope of ever paying off her current debt.

Andrew Hac said...

The land of the Americano is slowly decaying away like a putrid carcass of a rotten whale washing up on a crowded beach for all the world eyes to see, view, commentate on the state of the once almighty nation, the land of the Snapper Turtle.

Who can we blame on this retro-deed except ourselves ? The mentality of the current Americano is just amazing if not stupefying. Empty of feeling, duty, obligation, morality, honor, sense of self-worthiness, the only way to go for the Americano is to be roasted slowly skewered from mouth to ass on a green Chinese bamboo stick, all sizzling nicely, fat popping, juices dripping over a bed of white hot charcoal.

A nation with most of its dwellers obese, fat, diabetic, and plain ugly like a chimpanzee. An excellent display of this specimen is "BORKAFATTY" AKA The Pig.

Such is the fate of the fat-ass Americano. What a lowdown stinky shame for such a great nation once !

George Washington must be feeling real sad in his tomb by now !

Anonymous said...

We all know none of the blue state child molesters were ripped off by Wall Street. Weren't Californians too smart to get option ARMs?

Anonymous said...

Ooh one story on Alabama. How about the 200 stories on those leftwing retarded hippies in Clownifornia who got ripped off?

DOPES said...








Anonymous said...

That's easy,


Rom said...

The answer is C.

The answer for me (since I am not a sheeple) is to find a new job. I did it during the last bust, I can do it during this bust. Of course I've also kept me expenses very low.

Anonymous said...

What they've been doing all along -- steal!

Anonymous said...

what would MC Hammer do?

Anonymous said...

They're blowing through their retirement money now, through 401(k) loans that they'll never be able to repay.

Andrew Hac: please devise something new to say.

Stuck in So Pa said...

#3 Takes It!

Americans are far to lazy, stupid, and entitlement brainwashed to ever go back to living responsibly. Only the complete callopse of the credit institutions by massive sheeple defaults is going to make impression. Going into debt means nothing, as long as you can have somebody willing to extend you more credit. When the credit spigot gets turned off, then the screaming starts!

Ed said...

C most likely.

I have yet to see any noticeable changes in my dialy life. Stores are as packed as ever, restaurants/bars over flowing. I drive down a street that has 10-12 new car dealers on it every day. Just glancing around, seems like there are always a lot of customers walking the lots.

And why not? With interest rates on their way to 0% and the election year spending promises in full gear, spending seems like a good idea to most. The MESSIAH OBAMA will give you "FREE" health care, "FREE" education, he will pay for your mortgage and make you feel like YES YOU CAN. Why the hell shouldn't you go and buy a $60K car? It's all about the HOPE AND CHANGE, baby.

Anonymous said...

#3 + 401k loans and hardship withdrawals. But it can't last forever.

It hath been foretold.

Mammoth said...

"Now that the sheeple can't fund their lavish lifestyles with cash-out mortgage refi's anymore, what will they do?"
They will fund their lifestyles with their credit cards, and then when that dries up, they will fund using Payday Loans.

As they say here in Boeing country:


Mark in San Diego said...

I love the "collected works" of Andrew HAC. . .he always gives me a good laugh in the morning - the "putrid whale" is so apt for San Diego beaches. . .we often can't tell which is the dead whale, and which is the fat tourist from the midwest (not that there aren't a few local 400 pounders around here). . .so strange that when I get off the plane in Zurich that the epidemic of obesity hasn't spread very much to Europe. . .hmmmm. . .perhaps the genetic code changes when people live in the USA??

Anonymous said...

I predict an increase in suicides

Anonymous said...

The oldest profession will become more sociably acceptable soon...$4,300 blowjobs!

thesojourner said...

As more people are forced to lower their standard of living, many will resort to things that they never would have imagined they'd do, such as drug dealing and prostitution. Crime will be the new way to make a living. There are only so many law enforcement personnel, so expect crime to escalate to the stratosphere. Yes my friends, I'm afraid we are going into full Mad Max mode!!!

Anonymous said...

4)Start sending money to themselves through their Paypal account.

k.w. - southern ca. said...

Some people can't imagine living
without all the "stuff".

There will be alot of drinking and divorces.

Anonymous said...

3) Keep spending like there's no tomorrow until someone cuts them off, going deeper and deeper into debt to buy crap they don't need and can't afford
That seems to be the path the Gen-Xyz is taking. Or at least the ones I work with.