Go, Economy!

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Originally Posted by haohmaru

There would still be debt, credit, and mortgages - it would/should be more difficult to get. Like, say my 10 year old who's getting pre-approved Visa mail already, for example. It used to be difficult to procure credit and now it's far too easy. My girlfriend will get out of grad school with a 100k note due and no job after 7 years of school. That's pretty fucked up.

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Stop supporting your gf. :p

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Originally Posted by kingoffighters

Stop supporting your gf. :p

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LOL. It's her debt, not mine. And she makes a mean lasagna. ;)

Most businesses will reassess who they can trust. Wall street investment houses will be moved way down the priority list. Others will still extend credit to their usual customers who aren't heavily into debt already. Unsecured loans will be nigh impossible to get anymore. Secured loans will have their valuations more closely scrutinized.

I also think some of the corporate protections maybe weakened here and creditors maybe able to reach the fortunes of the people who created these problems. Like the legendary CEOs with their golden parachutes.

http://kara.allthingsd.com/files/200...as_dr_evil.jpg

Who needs 700 billion, when you can have 7 million?

So, went to lunch with a CEO of a company in London today. Guess what? Their economy is in the same situaion ours his. One of their banks just got saved by the government and another failed. This is a 1st world crisis. To be honest, I have invested in some properties in places that both, financially and historically would just not have made sense even 5 years ago. We're going to make it through the storm, but you best start looking at new investment opps rather than storing your hard earned money in a brick and mortar banking system.

I already invested all my money in planetary moon hyperspace travel companies.

That is a fantastic idea! Just let me call Zaphod for a contact in the business.

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Originally Posted by haohmaru

It used to be difficult to procure credit and now it's far too easy.

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no, it used to be way too easy, and now it's so difficult that people with excellent credit cannot get loans. this is terrible for our economy.

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Originally Posted by burgundy

no, it used to be way too easy, and now it's so difficult that people with excellent credit cannot get loans. this is terrible for our economy.

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It's not difficult if you own property at all. However life long renters are getting hammered right now, even some of my buddies who are near or over 6 figures in NY and San Diego.

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Originally Posted by MarsKitten

Like the legendary CEOs with their golden parachutes.

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everyone gets aggravated with the golden parachutes but there just isn't enough money there to make a difference

plus going after these people personally would be very illegal