tag:blogger.com,1999:blog-11719208.post6837744537282970243..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: The "Ownership Society" in reverseTimhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-11719208.post-85387703234119133792008-05-19T10:08:00.000-07:002008-05-19T10:08:00.000-07:00I think almost everyone understood they were actua...I think almost everyone understood they were actually speculating with other's money. Buyers with 0% down thought that they were speculating with bank's money. Banks thought they were speculating with investors money. Investors thought that Ben will rescue them even for small loss while watching silently as long as they were making tons. Ben thought that he can bail out any body printing tons of dollars. The real loser in the entire chain are holders of dollars which BTW are OPEC, China etc, and to an extent wage earners and retirees. You should cry for them and not for others.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-44223773065159667082008-05-19T06:56:00.000-07:002008-05-19T06:56:00.000-07:00"It's funny (and now sad) that so many new homeown..."It's funny (and now sad) that so many new homeowners in the last few years thought that they somehow "owned" the home they purchased when in reality all they really owned was a debt obligation that many really didn't understand".<BR/><BR/>The term is "debt slave".On the Losing Endhttps://www.blogger.com/profile/09134100802760322815noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-62303724797823521022008-05-18T19:12:00.000-07:002008-05-18T19:12:00.000-07:00THe CNN piece mentions in passing that shewas in a...THe CNN piece mentions in passing that she<BR/>was in a condo until she lost it 2 months before.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-52992241651295054772008-05-18T12:43:00.000-07:002008-05-18T12:43:00.000-07:00"Homeownership is fundamental part of a sense of b..."Homeownership is fundamental part of a sense of belonging to a country." But Pride and Prejudice begins with that wealthy member of the gentry, Mr Bingley, renting a house. My father's mother's family, who were prosperous businessmen, rented for about a century before they bought a house. But in their day there were probably no mad government subsidies for buying.Anonymousnoreply@blogger.com