4-of-a-Kind
Join Date: May 2006
Posts: 1,660
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media aint exaggerating shit.
a developer i know used to be a multimillionaire. he is now no longer, and losing like 30k a month or something ridiculous after making tons of cuts. this is solely due to the recent housing situation.
my parents and brother took about a 40k hit on a house they bought before this shit but needed to sell during it.
a friend living in arizona has been trying to move back up here, but cannot because he owns a couple homes, and they wont sell reasonably.
my sister has a two year old minivan that runs just fine but bought a new car that gets better gas for the sole reason of gas.
think about it this way: most of americans live paycheck to paycheck, but now our overall expenses are increased. this fucks us in almost every way.
this could easily be the beginning of the worst depression in our nations history. it will hit the entire world hard too, but US the worst. oil demand continues to increase while supply decreases. this was not always evident due to other factors, but we are now at the point where it will not change. the ONLY option is in other methods of fuel and power, but those will take veeeeeeerrrry long to set up. our entire transportation system is oil based. converting to another base (most viable now is hydrogen, which is what it is actually now except the fact that oil is the packaging) will take sooooo much money and sooooo many years. this will likely fuck us.
my plan is to get rich over the next couple years so i dont have to put up with this garbage. this is going to be a very long issue because its an issue of forced energy conversion.
and this is only one side of it. the housing bubble or whatever i dont understand so i wont say anything else about it. afaik, some banks need to bite the bullet that they tried to shoot at consumers, and that will be the fix. i could be way off on that though.
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