"Bert Robbins" wrote in message
...

wrote in message
oups.com...


Chuckie is spewing the typical brain dead liebral class warfare
crap.
The vast majority of people do not stay in one income bracket
throughout
their lives.

Sounds a bit like "let them eat cake."

No, it sounds like let's teach them to bake their own cake so that they
can
feed themselves.

You are right about that. The middle class is going the way of the
passenger pigeon. Yes, yes, a few of the former middle class are moving
into the ranks of the privileged-(something to cheer about in the right
wing) but most of the people leaving the middle class are worse off now
than they were a decade ago.

Then we need to do more to teach them how to work hard and earn more
money
so that they can move up the ladder rather than sliding down the ladder
under the weight of good intentions.

Watch what happens when the RE bubble bursts. All those folks with what
they think is a huge asset (suburban McMansion) and almost no net worth
(refinanced 2,3,4 times to sustain consumer spending in an environment
where housing costs are soaring and wages are essentially flat). You
think we've got po' folk now?
Just wait.

When the "RE bubble bursts" it will be a great oppourtunity to buy so
that
you can take advantage of the next bubble. Cycles, they keep repeating
themselves.

You have to make the money you have work harder for you. The lower my
mortgage the more I can put into an 401K, Roth IRA, IRA or whatever else
you
choose to use as an investment vehicle.

You guys know darn well what's on the horizon, and the recent changes
making it
almost impossible to declare a personal bankruptcy are an indicator.
Some of these people will be working the rest of their lives to pay off
the debt on a soon to be repossesed house

Every time the darkness comes there will be sunlight next. The economic
cycle is like that of the nights and days we experience.

Sure, the reasoning advanced is often "When prices go down, we just
won't sell. We'll wait a few years for them to come back up." Some
people will have that luxury. Others will be forced to sell do to a
medical emergency, job loss (or transfer), or other unforeseen event.
When they put these heavily refi'd houses on the market and discover
nobody is willing to pay enough to break them out of their
indebtedness, there will be more examples of "people not remaining in a
single economic class for an entire lifetime."

How may times have you been laid off during your working career? I have
been
laid off four or five times and each time I have been able to find
another
job that paid me the same or more.

There are winners and loosers in life and you have to work to be a
winner,
you can't sit around waiting for someone to give you the blue ribbon.

Those houses dumped by the portion of the population "forced to sell"
will further erode the fantasy wealth of people who believe they can
hold as well as consume the same asset.

It is an oppourtunity?

Add a 1, or even a 2,3,or 4 on the left hand side of every house price
in America. Nobody would be one cent better off if they are compelled
to live in one of those houses.

Corrections and adjustments are a part of economic life, live with it or
move to Cuba. In Cuba you won't own anything so you don't have to worry
about the price of houses.

Chuckie is just showing his true (very liebral) nature.