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Post-Consumerism: the Quiet Revolution?
invite response
2006 Sep 26, 7:30am 11,924 views 118 comments
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Alex,
Unfortunately, "blowing up" the housing market now is a forgone conclusion. The bust is already here --and it was market excess itself that precipitated it, not any so-called regulators (who were effectively asleep at the wheel or cheerleading the bubble all along). Anything Congress or the Fed does from now on re: housing will very likely be damage-control related, and even then only to help bail out the GSEs and banks --not Joe & Jill Homedebtor. F@cked borrowers are screwed.
As far as writing your Congressman goes, I think that's a good idea, but I wouldn't expect too much of a response. Let's face it, 7 out of 10 people "own" their homes (or are owned BY them), plus homedebtors tend to vote regularly in much greater numbers than renters. Congress will pander to whichever group brings it the most votes and money (homedebtors, NAR, mortgage companies, banks, etc.), so don't expect much as a result.
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Debt = Wealth
Mortgage Slavery = Freedom
Stupidity = Genius
It seems there are some people among us who have not yet "gotten the message". HidingintheBronx, Jon and Alien appear to be promoting some dangerous and counter-revolutionary ideas. Ideas like "serially refi-ed McMansion does not = happiness", "3 McJobs does not = high quality of life" and "less is more". If these ideas were to become widespread, they could seriously undermine the entire debt & hyperconsumption-based global economy. Not spending beyond one's means is not only unnatural, it's Un-Amerikan.
It is clear: Something must be done to stop these subversives before it's too late! A fatwa must be issued, bounties must be posted, phones must be tapped, ramparts must be manned. The guilty must be caught, sentenced, re-educated and hanged (not necessarily in that order).
As an Amerikan Consumer, it is your duty to report such subversive un-Amerikan activity to the nearest bank or sub-prime mortgage broker. Don't worry, as long as you cooperate, the Illuminati Secret Police will take care of the rest. You just keep working and spending --and keep your eye on the (ever receding) prize!
You must ask yourself: "Do I love Big Boomer?"
Stay tuned to your telescreen, citizen! More to follow...
Citizen HARM
#housing