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About 2 weeks after the economic bailout plan finally comes out, you're going to read how the banks are once again posting profits (RBS is already reporting this). People will continue to be stupid and do things like send money to people in Nigeria, play the lotto, and refinance their crappy houses for twice what their worth so they can pay off their $75,000 in credit card debt. The government will set up a new Department of Homeland Credit Risk Aversion, whose specific goals will prevent stupid people from becoming poor via their own decisions. Now as for people who can 'afford' luxury items. They haven't been hurting at all. First off, their houses are paid for so they didn't try and refinance when someone told them it was worth twice what anyone has ever sold a house for in their neighborhood. Granted it may be a little more difficult for them to obtain loans for business ventures but that just means they 'retire' for a few years. A fundamental truth in life is that people who are good at obtaining wealth will continue to do so. If you take their wealth away, they will simply find a way to re-obtain it. People who are bad at it will always be poor. Hell you can give a bum $1,000,000 and a year later they'll have pissed it away. Such is life. The only thing regulation does it act as a temporary roadblock to progress. It can help consumers make educated decisions....but with the age of the internet one can usually better educate themselves on a product than any amount of government regulation can. In the end, none of this matters. Despite rising gas prices and a debt society, people are still buying beer, cigarettes, and trucks. Hell car web boards are a testament to this. We drive a 17/25 mpg car that we spend money on to actually put more fuel in, and more expensive fuel at that. No one on here is selling their Z because it's not economical. At the end of the day we make irrational decisions all the time.....it's just the exceptionally dumb ones that do it every day. Personally I want every person who defaults on a home loan because they didn't understand what a balloon payment was to have their wage garnished and be required to pay the loan. If anything it'll teach their kids that perhaps staying in school and being fiscally responsible is more important than being like Dad.
"The 300ZX Turbo is a dance; it's a song; it's rolling, roaring automotive art. There is no color that doesn't suit it. There is no mood-lifting chemical substance it can't replace." - Automobile Magazine |
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