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The piece asks the question as to whether or not the consumer has learned.......this no doubt was asked in jest
 

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The piece asks the question as to whether or not the consumer has learned.......this no doubt was asked in jest

The consumer learned. That's rich.

I'll tell you who learned... the lenders. They found out that they can make stupid, risky loans and when they get in trouble the government will bail them out ultimately making more on the loan than if the consumer had just paid it off!
 

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Discussion Starter #4
The consumer learned. That's rich.

I'll tell you who learned... the lenders. They found out that they can make stupid, risky loans and when they get in trouble the government will bail them out ultimately making more on the loan than if the consumer had just paid it off!
Bingo
 

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The consumer learned. That's rich.

I'll tell you who learned... the lenders. They found out that they can make stupid, risky loans and when they get in trouble the government will bail them out ultimately making more on the loan than if the consumer had just paid it off!
+100
Part of the problem is this idiotic notion that the economy has to grow and keep on growing indefinetely :shock: WTF :shock:
I see it on a small scale around here...... they keep building those f*cking stripmalls by the dozens while existing f*cking stripmalls are sitting there empty, looking for tenants.
I just don't get it :shock:
 

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+100
Part of the problem is this idiotic notion that the economy has to grow and keep on growing indefinetely :shock: WTF :shock:
I see it on a small scale around here...... they keep building those f*cking stripmalls by the dozens while existing f*cking stripmalls are sitting there empty, looking for tenants.
I just don't get it :shock:
+1, no different down here.
 

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+100
Part of the problem is this idiotic notion that the economy has to grow and keep on growing indefinetely :shock: WTF :shock:
I see it on a small scale around here...... they keep building those f*cking stripmalls by the dozens while existing f*cking stripmalls are sitting there empty, looking for tenants.
I just don't get it :shock:
This is something I do not understand. Why ????

Down here I have seen very nice and new strip malls that are half empty. A few miles down the road a development company builds a new strip mall and opens it to have half its space empty.

It has never made sense to me.

Chris
 

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This is something I do not understand. Why ????

Down here I have seen very nice and new strip malls that are half empty. A few miles down the road a development company builds a new strip mall and opens it to have half its space empty.

It has never made sense to me.

Chris
Some would call it "free market". And I tend to agree. But the ultimate decision on whether something like that gets built or not is up to the lender. What bugs the crap outta me is when a commercial lender unquestioningly buys into the numbers that are fed to it by the borrower. Gee, the borrower has no reason to puff the goods, obfuscate, stretch the numbers or outright lie, does he? Of course he does.

I've played this game. The only time that money is being made is when construction is happening, especially for the developer. A developer will take huge risks, in the honest hope that it pays off, but knowing deep down that he is building a failed project from the start. He knows that he can steal some tenants from older or less attractive or less well positioned centers, and that is his hope.

The developer usually has to have some pre-leasing done before starting. I've seen developers out and out lie with their pre-leasing, using shell corporations, friends and so forth. It's a crappy business and I'm glad to be clear of it.
 

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The taxpayer will bail out the companies, but I don't blame them. I still blame the consumer.

DON'T SPEND MONEY YOU DON'T HAVE.

But ****, you can just default on it. Then the company can get bailed out by the taxpayer, but who's going to bail out the U.S. Government?

No worries, we will simply print off a few more billion dollars, and drive up inflation by devaluing the dollar! What a fun game fiat currency is!!!

Meanwhile, who is the US's bank? Who is the US borrowing from? That's right! Our sharpest competitors in the market place!!!

Yaaaay us.


JMO that we are, as a nation and as a whole, a bunch of spoiled children who are p*ssing away a centuries old inheritance paid for in blood and sacrifice that most who do the p*ssing do not comprehend. I have faith we can still pull it off, but it will take true hardship to wake the masses up, and I don't want to see what it is going to look like. Suffering, unfortunately, seems to be the only crucible that teaches human beings in general any lifelong lessons.
 

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wages aren't going up, how do you think we are going to keep up with the Jone's across the street that have the new hybrid SUV and the latest new tech toys with out leveraging ourselves into oblivion.:mrgreen:and of course while having that faux green corporate label ;) because we have to do our part to stop globlal warming:shock:;-);-)
 
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