Sat, Mar 15, 2014, 5:47 AM EDT - U.S. Markets closed

BioTelemetry, Inc. Message Board

  • rogerabc100 rogerabc100 Aug 17, 2009 1:28 AM Flag

    Millions owe way more than their houses are worth

    Millions owe way more than their houses are worth
    ...thousands and thousands of commercial property owners are underwater too. This has never happened other than during the Great Depression and NEVER to these levels! All thanks to Greenspan and greed. He deliberately created the housing bubble and home ATM mentality. Short term gain-long term pain...sound familiar? Job losses will continue, and those that find jobs will find low paying ones that will never be enough to pay all their debts.

    How is this all okay now? How is everything going to get better with Benny the Banker keeping rates at zero? Does he pray every day that he can re-inflate the Fed bubbles? Who the f*** will refi a loan when they owe TWICE what the property is worth? Why would ANY bank do a refi unless Uncle Sugar was going to bail them out of the massive losses. It is going to take many YEARS before all the exceses are liquidated. People only want to hear happy talk...tell them about a decade of pain coming and they can't handle it. These are many of the same people who bought bubble-priced McMansions with option ARMs and have two SUVs parked in the driveway with payments on both. "Whaaa..we need the gubernment to bail us out.."

    Folks, until there is widespread recognition that two decades of reckless spending has gotten us here, and that overbuilt malls need to close, thousands of retail stores must go away, board up empty hotels, tear down subdivisions, etc, etc..there will be NO recovery...ever. They are just postponing the inevitable day of reckoning with stimulus and cash for cars, etc. More and more debt piles up while the fools worship Cramer and hear how they will all get their losses back.

    A painful realty is coming soon...patience bears, Keynesian mega-debt rescues won't work. Dow 6,000 this year.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Er, Roger...What does all this babbling have to do with Cardionet's reimbursement rates, lol.?

    • Barron's Saturday, August 15, 2009

      Alan Abelson: Smell the Tar, See the Feathers








