I admit, I fell for a little hating on AIG employees getting bonuses. But something about the anger didn’t smell right. Usually when there is an “outcry” over anything, I usually take a step back. Especially when the outcry is politically charged. I despise politicians when they step their high horse onto their higher soapbox.
Here is a letter from one of the “evil” AIG employees in the NY Times:
See. Not responsible for the collapse. See how it went down? I wonder how many of the screamers and yellers will read that and be embarrassed over the lambasting of all AIG employees. Kinda puts things in context when there is a name and face, no?
This is EXACTLY what I was looking for when I posted Credit – A Pyramid Scheme?
Watch this video series. Wow!
I’m a very visual person. Show me charts and graphs all day long.
I was taken aback when I saw this:
Visualizing a Trillion: Just How Big That Number Is?
Think about that when you hear “trillion” thrown around so casually by our government.
Charts: U.S. Debt Expanding, Homeowner Equity Crashing
This post is more of a note to myself to do some reasearch on this.
I just saw that Home Depot has posted a loss. I have to think some stores bring this upon themselves. I think they can be profitable, but their location strategy might be working against them. I live in Levittown, NY, and I have 4 Home Depots in easy driving distance (East Meadow, Farmingdale, Freeport, and Westbury). There HAS to be something wrong with that. Throw in 3 Lowe’s in just as easy of a drive (which there are), and there is definately something wrong with that.
“Gee Matt, which one of the 7 home improvment warehouses should I go to today? If I had a coin with 7 sides, I’d flip.”
I’m just guessing, but their margins are probably pretty thin when times are good. And when times are bad, well then they are stuck with a whole lot of inventory in too many stores.
I thought I’d spin this off from my recent post Housing Crisis, House of Cards on CNBC.
Let me start by saying that I DO sympathize with people who are in financial trouble now, and who had been financially responsible all along. There are plenty of hardships that can cause financial turmoil, and I only hope that I never experience it myself.
This post is directed at those who were financially reckless and got themselves in over their own heads. I have zero sympathy really. Whether they were “victims” of predatory lenders or not.
I think the whole bailout notion needs to take past into consideration. Those who were financially responsible get help. Those who weren’t too bad—go rent somewhere. How the heck anyone would judge could only be a dream of mine.
This brings me to the title of this post. When are you considered a homeowner anyway? Seems to me that a lot of the reckless “victims” of predatory lenders have no equity in their home even before housing prices fell, so essentially they just rented space they thought they owned–but never remotely did.
Personally I take pride in my home, which is a work in progress (but that’s another story). The work going in is an investment to the value for the future. It won’t be until it’s 100% paid off that I’ll feel like a tried and true home “owner”.
I think the key to the economic stimulus is to invest in things that will return more than the investment. I don’t want to “create jobs” if the jobs are doing meaningless things. I don’t want to build roads if the roads won’t noticeably help modernization and productivity.
Good speech, right? The how and what are the million dollar questions. Alternative energy is a must, but that might be too long term. What to do?