Serious question to Obama supporters

[husker]

I know someone who bought a house in the late 80s for about 90K and was told to live in it and pay it off and use that house for equity if money was ever needed. Well this person decided to stay in this house and did some renovations over the years for about 60K and in the middle of this decade had the house valued at nearly 250K. With a refi job in the mid 90s the home was scheduled to be paid off sometime in the early 2010s....what a great investment and this person had a nest egg from the house to look forward to during retirement.

This same person was also told to start setting aside 1K every month from their salary also for retirement because obviously nobody can depend on SSI as their sole source of retirement income.....well over the years these funds starting adding up and between this money set aside and the home this person should be well taken care of during retirement when that day finally came.

Lets keep in mind this person is well educated with a Masters Degree in Education and is very close to attaining their PHd and started from nothing and obviously these types of turnarounds are only possible in a place like America.

Well guess what happened.....the housing market turned out to be a fraud and this so called 250K home was only really worth somewhere south of 150K and these so called investments that were supposed to set up for a nice retirement also came crashing down and burned to probably less than what initially invested. This person now probably has to put off retirement for another 5-10 years and it wont nearly be as nice as once thought.

Now surely this isnt a very sad story but my friends most of America fell victim here in this same situation a few years ago. People who invested in GL bonds also (life savings maybe) are today broke as the largest company in the world came crashing down.

All you hear on the news when home values and stocks crash is what a great buying opportunity has become of it. Well who do you think has this great buying opportunity? The average American or some filthy rich American or foreign investor who can buy everything up for pennies on the dollar and actually make some real money?

Reality is poor people had nothing to begin with so when markets crash they lose nothing because they had nothing but middle class people go to sleep wealthy and wake up broke and need to start over again while the rich get richer.

This my friends isnt the way it is today......this is the way it has been for the last 50 years in America regardless of who is in office (Dem or Repub) because govt. doesnt work for the people anymore.......it works for the rich.

The power in office and on Capit"A"l Hill doesnt give a fuck about most Americans, they just act like they do while in the meantime they devise ways of lining corporate americas pockets.

The feed the masses ideas of Socialism, Communism & violations of 1st Amendment Rights. Our govenment needs an overhaul because of the folks who wrote our Constitution over 200 years ago seen America today they would be ashamed to see the govt as it is today. Americans need to take power back and have the American Govt work for all Americans istead of the elite few and corporations. Middle America is getting eroded and the sheep (all of us) just want to point the finger at the other and lay blame which helps nobody. Its time America gets taken back by the people folks because the way the system works now it doesnt matter who is in power (Dem or Repub) they are on the same team furthering their agendas while we are left fighting and arguing.

Something has to change and it has to change soon because the path we are headed isn't the right one. Working together is the answer....not against each other passing blame.

PEACE

the house wasn't really worth it's high in the boom market, or the low in the bust market. the same goes for stocks. why is the high of a stock/house what it should be worth? since when is a 10-20% annual return expected on anything? houses should be bought to LIVE in, and then retire without mortgage to pay. if anyone is looking at it as a investment, well then, just like the stock market, you can get burned. if he was that close to retirement, why have that big of a % of his retirement in stocks? maybe he was greedy or thought he could retire early.

i completely agree with your last three paragraphs!

[wayne1218]

I'll admit this isn't an easy question to answer, but roughly at what timeframe in his administration will things start becoming his fault? Look, I know things take time, but with most of you still blaming Bush, I'd like to know when that excuse is no longer valid........after 1 year? 18 months? two years? Surely you can't keep blaming Bush Obama's entire four years?

Unemployment numbers out today at 10.2%, the highest in 26 years. I'm not saying it is 100% Obama's fault, that's foolish. However, do you think he has 0% of the blame?

I'm not being sarcastic with this question, I'm just really trying to understand a liberal's thought process.

With terrible policies I don't think we are recovering any time soon. So, if things do continue to suck, at what point does it stop being Bush's fault in your mind?

I think every President gets the best assesment at the end of their term.

[wayne1218]

The power in office and on Capit"A"l Hill doesnt give a fuck about most Americans, they just act like they do while in the meantime they devise ways of lining corporate americas pockets.

The feed the masses ideas of Socialism, Communism & violations of 1st Amendment Rights. Our govenment needs an overhaul because of the folks who wrote our Constitution over 200 years ago seen America today they would be ashamed to see the govt as it is today. Americans need to take power back and have the American Govt work for all Americans istead of the elite few and corporations. Middle America is getting eroded and the sheep (all of us) just want to point the finger at the other and lay blame which helps nobody. Its time America gets taken back by the people folks because the way the system works now it doesnt matter who is in power (Dem or Repub) they are on the same team furthering their agendas while we are left fighting and arguing.

Something has to change and it has to change soon because the path we are headed isn't the right one. Working together is the answer....not against each other passing blame.

PEACE

Ronny Brother, You hit the nail on the head for me. I never ever debate Politics in these threads because that is all that happens EVERY SINGLE time. The Dems blame the Repubs and the Repubs blame the Dems for ALL of the shit us as Americans are dealing with. When a Dem is in office, it is his fault and the Repubs scream about it. When a Repub is in office, it is his fault and all the Dems scream about it. It seriously is never ending and i'll be honest in saying i hate them ALL, Dems and Repubs. They are all crooks and NONE of them ever seem to be working for "Me". It amazes me how people here and everywhere throw mud at each other instead of throwing it at all the people in office who deserve it most. It is sad and truly fucked up my friend. I loved your post.

[MtrCtyPimp]

the house wasn't really worth it's high in the boom market, or the low in the bust market. the same goes for stocks. why is the high of a stock/house what it should be worth? since when is a 10-20% annual return expected on anything? houses should be bought to LIVE in, and then retire without mortgage to pay. if anyone is looking at it as a investment, well then, just like the stock market, you can get burned. if he was that close to retirement, why have that big of a % of his retirement in stocks? maybe he was greedy or thought he could retire early.

i completely agree with your last three paragraphs!

Husker my friend I wasnt trying to say if it was or wasnt worth it......my whole point is that middle class working Americans work their entire life for some dream that gets sucked out from under them and the rich people are always there to clean up for pennies on the dollar. Its been like this for too long now and the middle class, the backbone of any country, is getting pulled thinner and thinner.

PEACE

[flarendep1]

[QUOTE=harold_bush;1723049]

I'm just really trying to understand a liberal's thought process.




Harold, it is really hard to understand liberals, they are wired differently.

[husker]

Husker my friend I wasnt trying to say if it was or wasnt worth it......my whole point is that middle class working Americans work their entire life for some dream that gets sucked out from under them and the rich people are always there to clean up for pennies on the dollar. Its been like this for too long now and the middle class, the backbone of any country, is getting pulled thinner and thinner.

PEACE

a rich person didn't take his house from him. he can live there as long as he wants. i just don't get your analogy.

"the middle class, the backbone of any country, is getting pulled thinner and thinner." i completely agree with this. politicians are doing this, not the rich. politicians make the tax code help the rich in exchange for political contributions, and it's all under the radar. then there are the "hidden" taxes that hurt middle and low income people. do any obama supporters really thing his taxes imposed on corporations aren't going to be passed on to consumers? so who is REALLY taxed?