US subprime lending crisis felt in Finland as well

[Classic Finn]

I think they would cater to you just fine!



BTW, if you ever hit on a real solution to the problem for the individual (vs the govt), please let us know.

Mike...

What? The Toilet Paper Investment sounds like a great plan..

In reality though.. scary as chitt.

[mikeschn]

Yea it's scary. It makes the Weimar Republic look like childs play!

Mike...

In reality though.. scary as chitt.

[Dean in Eureka, CA]

In reality though.. scary as chitt.

All the better to follow Mike's advice and invest in TP...

[Classic Finn]

Yea it's scary. It makes the Weimar Republic look like childs play!

Mike...

In reality though.. scary as chitt.

Lets see that was 1919 - 1933..

[Classic Finn]

In reality though.. scary as chitt.

All the better to follow Mike's advice and invest in TP...

But which type? Soft, Extra Soft or the exact opposite.. Isnt it also available in different grade as sandpaper is?

[mikeschn]

I would buy up all the 100 grit TP. It's the most effective at removing all the err... you know what...

Mike...

[Classic Finn]

I would buy up all the 100 grit TP. It's the most effective at removing all the err... you know what...

Mike...

Mike ya gotta make sure ya buy the right grade, it could be hazardous to the Hem - roids

Classic Finn

[mikeschn]

Scenarios have long circulated about a young MBA manager in Kuala Lumpur or Taipei who comes into the office one morning and decides that his central bank is holding just a few too many dollars. He orders that a hundred million or so be sold. This generates a rumor that the dollar is being dumped by the country in question. A panicked rush for the exits begins. Central banks join the stampede. Country after country begins dumping its dollars and its US Treasury securities. By the time the wave reaches the US, the dollar is down to 30 percent of its value the previous day, and the Treasury market is in chaos. Volcker may yet live to see his nightmare become reality, in a time-lapse sequence.

[john]

I believe in the American experiment and try to zig when others zag. I look forward to a down market to invest in. I don't care what the scenario is.....down markets go up and up markets go down. Ride them; don't fight them and never, ever run in fear. It's all good if taken the right way.

My uncle is an excellent investor. He's boring (no Kramer), but he is good. In 87 I was 17 and asked him about the crash. His response essentially was "Yippeeee bargains everywhere!!". Later when the market was on constant run up in the 90's. His mood was basically "Yippeee I'm making money!!!" He is never pessimistic.

[Claw]

In October GM was twice the price it is now. Nothing in three months has changed other than perception and the perception will change again and run it up to $43 again.
If the price of fuel was 1/2 price everyone would be happy as larks but when a stock is selling at 1/2 price they worry.

You are right John, ride 'em don't fight 'em.

[Elumia]

only those who live beyond their means will be hurt by a recession.

Meaning if you have a huge mortgage, car payments and credit debt without any money in the bank you are screwed. When you live paycheck to paycheck you put yourself at risk.

Too many Americans are riding the consumer wave and "need to have" the latest and greatest everything. Much of the subprime mortgage problem is from idiots who signed bad loans.

What ever happened to personal responsibility?
if the 4% loan has a chance to go to 12%, do you think they had a plan to pay it?
Why did they finance a vacation, new car or plasma TV with a 30 year second mortgage?
Did they really "need" 3000 sq feet for Mom, Dad, 2.1 kids and a dog with a 40 mile commute?

Another thing that bugs me...
How many "can't afford" health care because they need to have cable and a cell phone, and stop at starbucks for a coffee EVERY day.
If you have kids, isn't it your responsibility to provide proper food, clothing, shelter AND healthcare before you indulge in the luxuries of life?
If every one has a right to free healthcare, don't we have an even more basic right to free food and shelter? Why not free transportation? government provided electricity and heat too.

And while I'm ranting...
If car insurance is a requirment by law, why do I have to carry "uninsured motorist" coverage?

I am happy to support those who truly "need" help. Unfortunately, too many feel they are entitled to more than help when they are down.

Mark

[Classic Finn]

only those who live beyond their means will be hurt by a recession.

Meaning if you have a huge mortgage, car payments and credit debt without any money in the bank you are screwed. When you live paycheck to paycheck you put yourself at risk.

Too many Americans are riding the consumer wave and "need to have" the latest and greatest everything. Much of the subprime mortgage problem is from idiots who signed bad loans.

What ever happened to personal responsibility?
if the 4% loan has a chance to go to 12%, do you think they had a plan to pay it?
Why did they finance a vacation, new car or plasma TV with a 30 year second mortgage?
Did they really "need" 3000 sq feet for Mom, Dad, 2.1 kids and a dog with a 40 mile commute?

Another thing that bugs me...
How many "can't afford" health care because they need to have cable and a cell phone, and stop at starbucks for a coffee EVERY day.
If you have kids, isn't it your responsibility to provide proper food, clothing, shelter AND healthcare before you indulge in the luxuries of life?
If every one has a right to free healthcare, don't we have an even more basic right to free food and shelter? Why not free transportation? government provided electricity and heat too.

And while I'm ranting...
If car insurance is a requirment by law, why do I have to carry "uninsured motorist" coverage?

I am happy to support those who truly "need" help. Unfortunately, too many feel they are entitled to more than help when they are down.

Mark

Hi Mark

What you say is most definitely true. It isnt any different here, Lot of people in the same rut. Even though ok we have healthcare that is provided by us paying high taxes. Children are number one in our country and basically healthcare is "free" till the age of 18. But in reality
free isnt the word, we pay for it via taxes..
One thing I should mention though, there are many who have no choice
but to live from paycheck to paycheck due to high cost of living. Only to pay for housing wether own or rental, and all other necessities.
No fancy tv,s cars or luxuries.

So not everyone can be categorized as living beyond their means, even though there are the ones that are in debt over their ears due to fancy cars and fancy homes.. and cc debts.

So there will be people in serious trouble regardless of exceeding wants or needs or just trying to pay the most important of all needs. Im sure there are the same category folks in the USA. No matter how hard they work all funds go towards just trying to live a normal life. Thus making saving an impossibility.

Rich keep getting richer and poor keep getting poor. It never ends.

Classic Finn

[mikeschn]

Well said Mark.

If I sat down and composed a rant about this stuff, it would be pretty much the same thing that you just said. Thanks for posting that!

Mike...

only those who live beyond their means will be hurt by a recession.