The Great Depression v2.0

Ever wonder why the media uses the word "bailout" while the White House uses the word "rescue" to describe the $700 billion plan to help financial firms? The boys in Washington refer to Wall Street’s fuckup as a "rescue plan", or in fancier terms, "Financial Rescue Legislation". You "rescue" the unwitting victims of a boat accident. You "bail out" an experienced captain who sailed knowingly into a storm. There are no innocent victims here except the American taxpayer. Wall Street, which should have known better, is getting bailed out/rescued, whatever you want to call it. I say let’s just call it what it is. It’s covering the asses of some greedy bankers. I want to know where this bailout/rescue plan was back when the DotCom boom turned to bust? Nobody threw all those young, geeky entrepreneurs a life preserver. We let those startup companies fail and sink, like any company should when they make poor decisions. It’s called business. Only the strong are to survive. It’s similar to the animal kingdom, only the strong survive. The weak are left weary and eventually die. Like it or not, it works like this for a reason. And personally, I like it like that.

So are we to drop spare change in your
$5 Starbucks coffee cup you are using to panhandle with?
Dude, go fuck yourself.

This post isn’t meant to depress you because God knows we are all depressed enough over the economy lately. This post is meant to anger you. And if it does in fact anger you, then I’ve gotten my point across. I’ve awakened your sense and ruffled your feathers. Although these days, isn’t everyone already on edge? Learning that my own bank is on the fast track to going belly side up, just like Lehman Brothers and Washington Mutual, has left me feeling just a tad worried. Granted, they are FDIC, but anything over $100,000 in your account and you’re basically fucked just like every other member of a non-FDIC insured bank. My Mom’s famous saying… "don’t put all your eggs in one basket" rule applies here. Spread out your money, people! I can’t emphasize that enough. If you’re like most, you are probably investing your money and saving for retirement. I’ve been quite diligent and smart in that area, but watching the stock market drop 777 points the other day made me want to hurl on my financial portfolio. The word "invest" means to give power, put your trust and faith in someone. Although at this point, I feel like taking that power back. I’ve lost just about all my trust and faith. I understand the market fluctuates, but this is borderline ridiculous! I try not to panic though and hold strong. And pray, a lot. It’s true that what goes up must eventually come down. But will what is down eventually come up? That is the question! Some believe this is another "Great Depression" in the making, the early stages. It’s a scary thought to imagine things getting any worse, but the possibility that we are seeing The Great Depression v2.0 scenario is very real.

As much as I would like to, I can’t take it out on my financial advisor. It’s not really his fault. We’ve reached this point due to a number of reasons, but mostly greed. It’s a problem that has spiraled downward starting from the subprime mortgage fiasco. And if you recall last week I ranted briefly on my blog about this very issue...

The Value Of A Dollar
I don’t mean to sound like a Grandpa, but am I the only one who understands the value of a dollar? Or rather what a dollar SHOULD mean? Seriously. $700 billion to bailout Wall Street? I can’t even fathom that amount of money! Whatever happened to being responsible for your own fuck-ups? It looks like the economy won’t recover without this massive economic bailout plan, but throwing money at a problem doesn’t really make it go away. It seems like a temporary fix and sooner or later someone has to foot the bill for all of this. Guess who that person will be? You! And don’t even get me started on the subprime mortgage disaster! That’s for another day and another post which surely will get my blood boiling. I just want to know when people are going to stop being so damn greedy and living above their means? Keep it simple, stupid. Don’t spend what you don’t have! Use common sense. Read the fine print. If something sounds too good to be true, it probably is. Sorry, but I don’t feel bad for anyone who has had their house foreclosed on. When you make $30,000 a year and move into a $1 million dollar house under the delusion you can actually afford it, you’re an idiot and you deserve to be homeless now. Wakeup America! It is no wonder every other country hates us. When it comes to money, we are borderline retarded here.

Ok, so it’s another day and another post. I can’t hold back any longer. I simply must share this tale of a man who wins the "Stupidest Fuck Of The Year" award.

In New York City, a 28-year-old math teacher says he was "scammed" (his word, not mine) into investing in $1.5 million in real estate without putting any money down. (There's your first mistake, not putting any money down. Having a down payment would have been the smart thing.) He says and I quote..."I make $50,000 as a schoolteacher. There's no way I should have been approved for loans that big." Umm, hello! Are you fucking kidding me? You’re a math teacher! You’re supposed to be good at math. Do the simple math, dummy! You make 50 grand a year. You CAN NOT afford a $1.5 million dollar house! CAN. NOT. Just because you get approved for X amount doesn't mean you can actually afford X amount - duh. I don’t even need to calculate the figures to tell you that much. What in the world would even make you think you could? Oh wait, that’s right, you are blaming the bank for you not reading the fine print. You are blaming the bank for explaining to you what a subprime mortgage actually entails, but not listening or comprehending. FYI...it means your low introductory rate looks great on paper, but give it a couple months and it will shoot thru the roof, most likely tripling! It’s like being a naive 18-year-old kid who is sent his first credit card in the mail with a “teaser rate” to get him hooked on using plastic. He goes crazy with it in Abercrombie & Fitch and Gamestop. Then when the bill rolls in, he has a 30% interest rate slapped onto his shopping spree. Lesson learned, right? Well apparently that 18-year-old kid grew up to be the 28-year-old math teacher and STILL hasn’t learned his lesson.

Call me cold, but save your sob story. I won’t be shedding tears for you. I don’t feel the slightest bit sorry for a single person who was forced into foreclosure. Nor do I feel bad for any of these big bankers. Fuck all of you is what I say. Actually, good for you. You need to learn a lesson, the hard way. You’re all greedy and wanted to live above your means. You wanted to party it up and live large. Well guess what, you did, but now the party is over. Clean up your own fucking mess. I’m not pitching in to help.

(Sorry for all the "fucking" language. I usually don't swear like a sailor, but I tend to say fuck when I get pissed. Thanks for letting me vent. Fuck, I feel better now.)