Tuesday, October 26, 2010

We Didn't Get Here Because We Were on a Winning Streak

People are truly nuts. I took a second look at that video from 60 Minutes with all of those unemployed and highly educated 99ers in California. Folks who can't find work. Folks who have been deprived of their "standard of living" and "motorhomes."

To say that these folks are spoiled would be like gazing upon a pile of dogshit and calling it health food. I just can't describe that level of unconsciousness. I will embed the video at the bottom. Have a box of Kleenex handy.

But first this snip from the comments of Zero Hedge. Too funny to pass up.

A man was sent to Hell for his sins. As he was being processed, he passed a room where an economist he knew was having an intimate conversation with a beautiful woman.
"What a crummy deal!" The man complained. "I have to burn for all eternity and that economist spends it with that gorgeous woman."
An escorting demon jabs the man with his pitchfork and shouts, "Who are you to question that woman's punishment?"

Let me tell you how I spent my life up until the summer of '07. I owned a house with no 2nd. I never owned a new vehicle. I had no credit or revolving debt. Everything was paid for. And no, I didn't think I deserved all those lavish things the neighbors had. Four wheelers, new diesel trucks, motorhomes. The reason I didn't have any of those things is simple. I hate debt. Call it an obsession. But financing someone elses profits by stacking on additional profits to a middleman just doesn't make any sense. In '07, I had put together enough dough to ride out this whole miserable depression without food stamps and unemployment. And because I lived so leanly, I am supposed to get all misty eyed when a bunch of spoiled Californians, living in houses 4 times what any intelligent being would pay, start whining? This while I was driving my 12 year old truck and they blasted around in BMW's and Escalades.

You see, I was priced out of California years ago. I am unwilling to pay the highest tax rates in the U.S., the highest insurance rates, and some of the highest infrastructure costs. Two years ago, I saw a 500 a month water bill on a 3 acre ranchette near Santa Barbara and nearly had a heart attack. Location, location, location. Who pays that shit? Are you people nuts? And one last thing. The public employees retirement system is beyond comprehension. The benefits are so lavish that it would take the GDP of 1/2 this country to pay them- and when California tries to take it back- to actually get austere- the shit is gonna hit the fan. They have absolutely screwed the pooch. I don't give a fuck how many gadgets Apple invents. Nobody can pay that freight.

The best part of all- is long held real estate and California's taxing structure. When that real estate gets sold, the taxes reset to the new appraised value. Since values are so artificially inflated STILL- I've seen starter homes with taxes of one thousand bucks a month.  

This country is in an economic nightmare. We got marketed to death by corporate America. Greedy bankers were willing to finance everything on the planet and a bunch of spoiled and entitled people thought they deserved that shit. Money is created only as debt. Who the hell would make a loan to someone, liars loans, (think Indymac and Countrywide) knowing full well they could never afford to pay for that loan? And then have Paulson and the dumbest Congress in history bail out the crooks?

We are in a depression facilitated by all that lunacy. Those folks with masters degrees working at Target for 9.25 an hour. It is the classic ant and grasshopper story and now that thieving FED is trying to raid my savings account by printing money and making my existing savings worthless. We are in the midst of a Great Depression. We are here because this is precisely what happens when people behave the way that they have for the last 30 years. We didn't get here because we were on a winning streak...and now our only hope is that this same class, the entitled class mentality, must take the awful steps to get solvent. To embrace this mess that they alone caused. Personally, I don't think they can do it. They are too mired in self pity and blaming the exterior world. As evidenced by this video. Kleenex time.


Anonymous said...

I've been reading about the violent demonstrations in France. The idiots can't understand that there is no more wealth to distribute. We're heading down the same path. Take-backs are a real bitch. I fear that we too will see violence. Those whining spoiled brats are going to turn real ugly.

Brian said...

I don't think they want to deal with it Fire. I actually think they are going to try and kick this can down the road...the road has ended. Somebody is gonna have to deliver the bad news. I can hear the howls from here.

I've been watching the France thing too. They better hope they don't start dragging out those guillotines.

Brian said...

Just snipped this from ZEROHEDGE. Guess all that legal dope won't help Portugal. At least they got something to ease the pain.

As BBC reports, "the minority government of Portugal has failed to gain opposition support for its proposed austerity budget. A failure to pass the budget could plunge the country back into the debt crisis it had seemingly escaped since the summer." And this: "Prime Minister Jose Socrates threatened to quit if the budget fails, while the finance minister ruled out more talks." In other words, the Portuguese government is about to fall, bond sales are to be put on Hiatus, and talk of the ESFS' usage is likely to reemerge, and add Portugal to the list of recipients including Greece and Ireland.

Anonymous said...

Unfrigging believable. You know, Brian, in my previous life I was an engineer and corporate executive in the mining industry for many years. I don't know all the world but I know a good share of it. I thought I had a pretty good understanding of people. But I don't know squat. Our species is supposedly the only one with the ability to reason but damn few use that ability. How hard is it to understand that if you shake and shake the piggy bank and you don't hear anything; that probably means that there is no money in the piggy bank? well hell! They can just go and print some more. Problem solved.