On 2008-03-17, Wes wrote:
Ignoramus22030 wrote:

I agree with you, but this character decline was caused by willingness of
lenders to make loans that were too risky. No doubt this was caused by
mortgage securitization that allowed "dumb money" to participate in
mortgage lending.

The other part is not teaching the realities of finance to those
young heads of mush. Look at how schools of higher education cut
deals with the credit card companies. That sure is teaching the
kids something usefull.

That's true. People who borrowed too much relative to their income,
definitely are responsible for their downfall. However, investors who
lent money based on lax criteria, have themselves to blame for this.

You feeling good about your gold investments atm?

I never owned any gold, but I have Euros.

I am not feeling too good about these developments, as both most of my
assets and all my income and life in general is based on the US
economy, so my Euro investment means that I lost somewhat less than I
could. Ideally, I would much prefer my euro investment to wither due to
a more responsible fiscal policy.

i