On 5/23/2012 7:22 PM, Dave wrote:
On Wed, 23 May 2012 10:28:29 -0700, "Steve
Just looking at guys toolbags and in their trucks at their tools, I very
rarely see a shiny new one. Most look like they've been run through a gold
processing machine. And the guy wouldn't part with it for a new one.

Maybe things are different from where I live.

No, you're looking at people who use their tools to make a living.
Those are not the people I was referring to. A contractor needs to
allocate money wisely if he/she is going to stay in business.

I'm talking people who spend money or use their credit cards on
something that isn't at all necessary to survive. Hell, look at the
housing problem in the US. How many people were convinced to buy with
incredibly low interest rates and rock bottom down payments? The
mortgage companies promoted the hell out of easy home ownership.
Suddenly, everybody is surprised when they lose the house because they
can't afford it?

These people should never have got a mortgage in the first place. Yet,
they were 'lemminged' into buying because it was the American dream.
Again, it's all about want without a good measure of restraint to keep
it in check.

Regardless of what the American Dream is, or whether the government is
pushing low interest loans, Common sense says if you have debt to earns
ratio of 86% you should not buy a house that increase the debt ratio to
130%.

These last generations have been brought up thinking they are not
accountable for their actions. So what ever caused the housing bust,
and there are media reasons and valid reason, maybe in the future people
will remember that there are consequences to their actions.