tag:blogger.com,1999:blog-18675105.post8915850498462730002..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: Paulson on entitlement programs: "Rising costs will drive government spending to unprecedented levels, consume nearly all projected federal revenues"bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger46125tag:blogger.com,1999:blog-18675105.post-340781452212848102007-05-03T17:43:00.000+01:002007-05-03T17:43:00.000+01:00Go to your coin deale and buy precious metals and ...Go to your coin deale and buy precious metals and hord them. The gov'ment won't even know about and you can sell online. I started buying over the last few years. I don't have a fortune but you'd be suprised how a little her and ther adds up.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-33847186295252637202007-04-28T20:55:00.000+01:002007-04-28T20:55:00.000+01:00nothing like opinion from one of the greatest robb...nothing like opinion from one of the greatest robber barons of the modern era first thing in the morning, sweet!!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-61690951917863474612007-04-28T16:24:00.000+01:002007-04-28T16:24:00.000+01:00Get ready for the blowback from GenX and GenY towa...Get ready for the blowback from GenX and GenY towards the baby boomers.<BR/><BR/>So sad... Thanks a lot Greenspan, and the phony FED for what YOU have created! You should be punished for what you have done to the US dollar over the last 20 years.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-4881952466065991032007-04-28T16:20:00.000+01:002007-04-28T16:20:00.000+01:00"We're not "lurching toward insolvency", we zoomed..."We're not "lurching toward insolvency", we zoomed past it long ago... <BR/>"<BR/><BR/>Damn straight! Uncharted territory, we are there for sure!<BR/><BR/>Unfortunantly, it will ONLY GET WORSE from here. <BR/><BR/>Thanks Dick, Bush, Cliton, and last but not least, Greenspan for burying the NEXT generation in DEBT! <BR/><BR/>Ron Paul for prez!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-69791687395306491192007-04-28T05:15:00.000+01:002007-04-28T05:15:00.000+01:00love the pic keith.love the pic keith.Anonymoushttps://www.blogger.com/profile/02857595660248824211noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-63105714322636644482007-04-28T03:43:00.000+01:002007-04-28T03:43:00.000+01:00The Most Irresponsible Generation. Great post. S...The Most Irresponsible Generation. Great post. Somebody needs to write a book detailing the ridiculous irresponsibility that the baby boomers have promulgated upon my generation (Gen-X). I swear their irresponsibility has ruined this country and it is very questionable whether they will be able to fix it. Gen Xers and Yers should expect their taxes to go through the roof to pay for all of our parents fiscal irresponsibilty. My plan is to have my money saved and just refuse to work if possible when taxes go crazy in a few years.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-36986919825137304972007-04-27T18:37:00.000+01:002007-04-27T18:37:00.000+01:00"Most people my age have not saved a dime. Social ..."Most people my age have not saved a dime. Social Security will be their only income."<BR/><BR/>Well, that's just too bad, should have thought about it earlier. <BR/><BR/>One other thing, when SS was established most people didn't actually live to see retirement, that is why it is called a "Survivors" benefit. Since people are living so much longer now, why not raise the retirement age by a proportional amount, that seems fair to me. Noone, I mean NOONE deserves a 25 year holiday, at the expense of their children.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-83929391646643022692007-04-27T16:17:00.000+01:002007-04-27T16:17:00.000+01:00traineeinvestor said... "It's an entitlement me...traineeinvestor said...<BR/> "It's an entitlement mentality: "I deserve and am entitled to a given lifestyle. Where the money comes from is not my problem." Self reliance and independence have become the exception rather than the rule."<BR/><BR/>Nobody feels more entitled than the well-off with their call for more and more tax cuts (tax cuts for them anyway).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-36594917830063276562007-04-27T16:14:00.000+01:002007-04-27T16:14:00.000+01:00"By 2017, Social Security will pay out more in ben..."By 2017, Social Security will pay out more in benefits than it collects in taxes, the trustees said in their annual report. The program's trust fund is projected to be exhausted by 2041, one year later than estimated last year."<BR/><BR/>Yeah, but for the last 80 years, the SS surplus has been used to subsidize the military. Keep Social Security and send the bill for the difference over to the Pentagon.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-27418079153407764252007-04-27T13:25:00.000+01:002007-04-27T13:25:00.000+01:00Well we can talk about the boomers, who, as I've s...Well we can talk about the boomers, who, as I've said before, really need to revisit the idea of why they should be able to spend over a third of their lives in retirement.<BR/><BR/>But, the other thing is, OK the programs grow to 25% of federal spending. So just how much is federal spending on defense. And just what is so criminal about limiting profit on drugs to five percent.<BR/><BR/>I tell ya what if Merk and Glaxco just can't survive on those profit margins and leave the business in disgust I'll take the chance that someone else will step up to take their share the paltry billions of "limited profits" left over.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-4564380414991785172007-04-27T05:00:00.000+01:002007-04-27T05:00:00.000+01:00What happens when the retirees start cashing out a...What happens when the retirees start cashing out all those tax deferred accounts and Wall street is in sell mode EVERYDAY? How far DOWn will the market go? Sometimes I get the feeling that the house of cards is MUCH MUCH bigger than any of us realize.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-22612541021394671042007-04-27T03:52:00.000+01:002007-04-27T03:52:00.000+01:00Oops, sorry Keefie, that was an anon...Oops, sorry Keefie, that was an anon...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-13873764082304064802007-04-27T03:50:00.000+01:002007-04-27T03:50:00.000+01:00Keefie,We're not "lurching toward insolvency", we ...Keefie,<BR/><BR/>We're not "lurching toward insolvency", we zoomed past it long ago...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-76475012125064655192007-04-27T02:16:00.000+01:002007-04-27T02:16:00.000+01:00It may help to clarify that it is social security ...It may help to clarify that it is social security disability that is the major problem and not the social security payment streams that get repaid to people who paid in during working years. <BR/><BR/>(The payments made to the people who never paid in and the looting of those funds have created insolvency.)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-81524044188916374412007-04-26T23:56:00.000+01:002007-04-26T23:56:00.000+01:00I am 51.Most people my age have not saved a dime. ...I am 51.<BR/><BR/>Most people my age have not saved a dime. Social Security will be their only income. <BR/><BR/>Less than 10 of people my age have saved over 50,000 for retirement. It aint enough.<BR/><BR/>I have been socking it away since I was 18 and could retire now if I wanted to.<BR/><BR/>I am sure, because I will have a viable income that I will be stiffed on Social Security. <BR/><BR/><BR/>I paid out the ass for all this time into a system that owes me big time. I will be the one shafted.<BR/><BR/>My tax dollars go to pay for freeloaders, to bail out idiots, to feed educate and medicate illegal criminal border crossers and to pay for social programs for lazy deadbeats.<BR/><BR/>I am ready if Social Security becomes insolvent but fear for my neighbors who will be starving.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-19479107589073477702007-04-26T22:53:00.000+01:002007-04-26T22:53:00.000+01:00"Now you know WHY the gobbermint doesnt count the ..."Now you know WHY the gobbermint doesnt count the 401k as SAVINGS!<BR/>It's NOT YOUR money, it's the goverments! SUCKERS!"<BR/><BR/>Like everything else, you can't count on the rules of the game not changing over time. Outright confiscation is difficult to believe but I could see a special one time tax. Perhaps an "advance" on the taxes you pay when you start taking distributions from your 401k.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-89672714951595064852007-04-26T22:43:00.000+01:002007-04-26T22:43:00.000+01:00"Why should a family of 4 pay less in taxes than a..."Why should a family of 4 pay less in taxes than a single individual? "<BR/><BR/><BR/>hey, it is the "progressive" tax system at work! It sure feels regressive when you are at the paying end of "progressive".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-7626539155791994402007-04-26T21:59:00.000+01:002007-04-26T21:59:00.000+01:00The most generous thing they did was burn all the ...The most generous thing they did was burn all the world's oil, ensuring that, thanks to the greenhouse effect, we will at least be warm.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-12845670018747535802007-04-26T21:34:00.000+01:002007-04-26T21:34:00.000+01:00It makes me so mad, this is the generation that go...It makes me so mad, this is the generation that got either free or relativly inexpensive education, much more job security in the pre-globalization era. Not only that, but a house was a much less expensive when they got out of college, without any student loans around their necks. It seems like all through their lives they have ruthlessly pursued only their own interests. For example, once they got in the position to call the shots, they made sure education funding was taken away and that tuition rose explosively. Now young couples, just out of college have no hope of affording a home, for a number of reasons a) ridiculous taxation to pay for entitlement programs, I paid almost as much in Fica SS, Medicare etc as I did in Federal Income Tax (Chances are when we retire, the system will be bankrupt and gen Y and X will not get a penny back, ROBBERY in the most literal sense) b)student loan repayments, some at interest rates that border on usary (Note that these loans probably form a large portion of baby boomers portfolios), c) Baby boomers bidding up house prices to make money to offset their inability to save for themselves during retirement. More young people need to vote, so that those lummoxes in DC actually work towards a sustainable America that offers real opportunities to all citizens, not just the ones who have been around the longest, and shout the loudest as they think they deserve it all, without having to pay for any of it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-40005926203893865142007-04-26T20:44:00.000+01:002007-04-26T20:44:00.000+01:00Yeah, you think you'll have to work until age 80.p...Yeah, you think you'll have to work until age 80.<BR/><BR/>problem is, THERE WONT BE ANY WORK FOR YOU.<BR/><BR/>Any 'normal' paying job now --- that isn't in Big Gubbermint --- you get canned at age 50. <BR/><BR/>The baby boomers will surely vote themselves the U.S. Treasury and massive taxes from the rest of us.<BR/><BR/>Just see where the votes are going.<BR/><BR/>Just watch---everything will be devoted to slavishly kissing ass to The Geezing Boomers. Schools will go down the toilet even more, scientific research will be eliminated (and who cares since US won't be doing any more R&D anyway) , infrastructure will look like Chechnya, but how dare you make them pay one dime for anything.<BR/><BR/>Income taxes on pensions and social security will be eliminated ("We need to pay for our medicine!" ) and payroll taxes on wages for actually working people (under 65) will be ginormous. <BR/><BR/>Will gen x and gen y outvote the boomers? Hardly. They can do so now, but don't. It will get worse.<BR/><BR/>Always, the old people vote early and often, and they'll be lazer focused in campaign donations. <BR/><BR/>Why else is voting day in the middle of the week, where it is on a weekend in every other civilized country? <BR/><BR/>Old people can wait for hours to vote. That simple fact will further increase the power of the boomers until they are literally too decrepit to vote---but that's 30 years away and the money will be gone by then. <BR/><BR/>The wealth of the nation will be expended on nappy wipes for bodily excrement of incontinent boomers. There will be no infrastructure or industry left.<BR/><BR/>Already supposedly "US" companies on the Dow are making lots of money selling overseas----and since they make their stuff overseas too, it reflects nothing about the health of the US and benefits nobody except a tiny few execs. If the US gets poorer, then the value of the US as a market will be even less, and they'll pay less attention. The NYSE or NASDAQ is just a convenient place to park the supranational wealth extraction machine.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-14314755402853042542007-04-26T18:32:00.000+01:002007-04-26T18:32:00.000+01:00If Gen X and Gen Y realize their true interests in...If Gen X and Gen Y realize their true interests in the matter, they can and will outvote the boomers. It's just that right now there's no Generational Consciousness about these issues. There WILL BE, and I can't wait to lead the charge!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-29783748891657480182007-04-26T16:52:00.000+01:002007-04-26T16:52:00.000+01:00Flat tax, no deductions- I am tired of paying for ...Flat tax, no deductions- I am tired of paying for your house and your freeloading f*cking uncontrollable dipsh*t kids. If you want to have kids, pay for them your f*cking self you f*cking leeches. Why should a family of 4 pay less in taxes than a single individual? And, I don't want to hear this sh*t about government interest in strong families- most people having kids these days are uneducated morons that should not be having kids anyway. In fact, if people had to pay their own way, the only people having kids would be those capable of taking care of them, further serving the evolutionary goal of humankind.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8910687792518127452007-04-26T16:50:00.000+01:002007-04-26T16:50:00.000+01:00As a 35 year old I can relate to this depressing r...As a 35 year old I can relate to this depressing reality. a few points:<BR/>-Inflation should be mentioned. Homes, healthcare, education-things that matter have doubled in a decade.<BR/>-Stocks and housing will not go up several times in the next decade or two like they did from 1980-2005(give or take)<BR/>-The next recession will be painful since we can't cut taxes and lower interest without a complete worldwide exit of dollar realted investments. Plus you have no "equity" anymore.<BR/>-New information is showing the world is less dependent on us to buy stuff. We already have aweakening dollar. We are losing our reserve currency status-A giant blow.<BR/>-and of course we have absolutely no way of paying or obligations. A ton of debt with no new income. That's fantastic<BR/><BR/>caseyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-571017282961375752007-04-26T16:41:00.000+01:002007-04-26T16:41:00.000+01:00Regardless whether a full spectrum exit is preferr...Regardless whether a full spectrum exit is preferred (financial, geographic, psychological), or just a partial, you need to start heading for the exits now, before the fans of Dale Earnhardt Jr. catch on.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-21105982179216193872007-04-26T16:33:00.000+01:002007-04-26T16:33:00.000+01:00They need to just scrap medicaid and medicare and ...They need to just scrap medicaid and medicare and while they're at it, they should outlaw medical insurance too- the existence of medical insurance is the primary reason why medical care costs so much- doctors and patients who know there is a dedicated source of money have no interest in keeping medical costs down. I suppose the HSA can assist with this, but not too many employers are offering them.Anonymousnoreply@blogger.com