Wednesday, September 24, 2008

It's All Paper And Promises Anyway, Ain't It?

How much does it really matter?
I'm talking about this financial crisis, of course.

I'm not knowledgeable in the slightest about monetary policy, or how money works, the federal reserve, and what not.
What I do know, I learned the hard way:
I work.
I get paid.
I spend.
Spend more than I earn, and I'm headed for trouble that costs even more than I originally overspent with in the first place.
Don't buy shit you can't pay for, don't buy on credit, put away $20 every week and forget about it, keep your job, and the rest just kinda falls into place rather well.

I dumped my credit cards in 1999. Went 'BK', and never borrowed again, with the exception of things it's near impossible to save cash for: cars and houses.
And I did't buy the $35,000 car I qualified for when the $20,000 car will serve the same purpose with a smaller payment and last just as long and perform just as well.
(This logic also lowers insurance costs).
My FICOL score is near 700, but was told it should be much higher if I kept active revolving credit . No way.
689 is plenty to do what ever I want to do when I need to (rarely) do it; like get a competitive rate on cars and homes.
No need for me to give more money to the money lenders.
(You idiots with the 700+ scores can have them bragging rights that you paid handsomely for. It means nothing to me.)

Remember, I'm just a mill worker. No glamour. Just sweat, blisters and a bucket-load of overtime. I have everything I need, most of what I want, and can still spare a buck or two for the derelict in front of 7-11. Or more than a few for the irresponsible family member.

I do know how markets work.
I do know that a bunch of morons bought houses they couldn't afford with money lent to them by other morons.
As a result, the housing market has dropped allowing me into a great bargain I can afford that in an otherwise honest market I could never dream of.

I fail to see the crisis in this.

But if there really is a crisis, I fail to see how putting the same people in charge of fixing it that were supposed to be making sure stuff like this didn't happen in the first place.
It's not that hard. Even football teams fire the coach that blows it.

If there is a fault, it lies in the American voters who keep returning the same re-elected assholes to Washington time and again.
Of course, the re-elected millionaire assholes (with their fingers in the pie) want to bailout the millionaires who helped elect them who also 'lost' all this money.

I get the feeling a lot of little guys are gonna get burned through higher taxation. But not one politician will be giving up his salary or pension.
And everybody who was (ir)responsible for oversight will be re-elected.

4 comments:

Vanesa Littlecrow W. said...

I think that the real crisis is that damn bailout. I don't know how Bush can even look at himself in the mirror. You know it's bad when Nancy Pelosi approves of her good little monkey. :(

Bike Bubba said...

Well said, Gino. Even with a brain tumor, you're still smarter than the average politician. :^)

Especially Joe Biden. Did you see Michael Medved's column on how, despite decades of excellent income, he's got less saved up than a typical millwright has by age 50?

Gino said...

not a brain tumor. a coratid tumor.
its off by about 5".

Bike Bubba said...

And you're smarter than at least one commenter on your blog, too!