Worse Case Scenario for US

[HoldAndBuy]

I think the majority of people here don't run the numbers on anything. I used to wonder why the most financially-sophisticated country on earth had so many people with no financial sense. Then I realized that it needed a constant supply of uninformed lemmings to keep buying things they can't afford for the system to keep going.

[christopher w]

What I have noticed is that most people are very short sighted. When somebody calls me wanting to refinance and their rate is currently below 6% it does not always make sense to refinance into another 30 year mortgage because unless their loan amount is 200K+ the savings is very minimal. However what I explain to my customers is instead of complaining that the deal is only going to save you $60 a month and it is not worth it they should consider shortening their amortization period.  If you can drop 5-7 years or more off of your mortgage the savings is massive. But all people seem to care about is saving money now. They can't grasp the fact that SOMEDAY they are going to want to retire and most likely social security is NOT going to be there. Owning your home free and clear will go a long way towards making retirement a reality. Sometimes they jump onboard other times they look at me like I am nuts. Either I know that I am doing my best to help them with their financial future and not just dumping them into a loan that really does not make sense just so I can make my 1%.

[sellnbama]

furnishedowner,

Just wonderin why your post was directed to me?I did'nt agree with the article,just the possibility of it,especially with this administration.I've never known anyone to spend their way out of debt,yet alot are believing this theory.  

[furnishedowner]

Sorry, Sellnbama!       
I have had the flu. It's amazing that my brain isn't totally fried. I'd better just shut up sometimes. My bad.

Furnishedowner

[sellnbama]

No prob,hope you get better soon.Best wishes.

[HoldAndBuy]

Not the swine flu, I hope

Sorry, Sellnbama!       
I have had the flu. It's amazing that my brain isn't totally fried. I'd better just shut up sometimes. My bad.

Furnishedowner

[furnishedowner]

You know, I just really think it could be the Swine Flu! I'm not over it yet, and its been almost 2 weeks. I am dragging around and sucking up chicken soup.

Here's the thing...on the news it says there are 8 cases in this state, with other probables. When I went to the doctor, I wanted to be tested. But there are no test kits that have been issued yet, the doc said.

So those 8 cases could be 800 cases, or 8,000. How could they know? Sick as I was, I should have been tested. Oink.

Furnishedowner

[Amish56]

Obviously, the article only covered a small number of the reasons that a collapse is a certainty.  However, even without listing the majority of the reasons for a collapse, the conclusion is accurate.