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Holiday Cheer From The Obama Administration: The 12 Months Of Default
Just because every credit collapse mushroom cloud has a silver lining. The Obama miracle recovery captured in one simple, easy to remember song.
h/t Joe Saluzzi
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Awesome!
Thanks Joe. Zombies FRE, FNM on the move, again.
A year with no mortgage payments ...... topped off by Cash 4 Keys !!
Like hitting the lottery.
HoHoHo !!
This windfall beats getting a live pony under the Tree.
I acted responsibly and stayed out of the housing market. Where's my dough?
"I acted responsibly..."
Sorry bucko. Only losers are rewarded in this regime.
So did I. I think you misunderstand our role in this. The Bama has made us their bitch.
"I acted responsibly... Where's my dough?"
Bennie Bernank-ster rewarded you responsible savers with 0% interest on your savings over the last year while devaluing your savings dollar abroad to re-inflate TBTF bank stock, remember?
MERRY X-MAS, CHARLIE BROWN!!
Why does it always have to be about you?
Can't you see there are people hurting, in need of
bailouts? They partied hard....they need your savings
to get through the shakes. Think of the children,
won't you?
I know of at least 2 people living this exact life. Sickening.
Exactly, where is my cash for being good??
Banks got bailed out, deadbeats bailed out, everyone bailed out but not a whisper of reward for good behavior.
Good thing my treasures are in heaven, where there certainly is no Wall Street and Government cabal!!
Amen. All fiat money and glory are fleeting. That's for sure.
I so want to do this, but I'm scared to do so.
Only you can make the right decision, but it shouldn't be made out of fear, plenty of information available on the web, Mish had a good post about it.
http://globaleconomicanalysis.blogspot.com/2009/11/before-walking-away-c...
See...you do get rewarded for living beyond your means! Yeah...thanks Obama...keep fucking everyone that has been responsible right in the ass while you bail out all banks, corporations and people that were totally irresponsible! Make sure to teach your kids to take on as much debt and risk as they possibly can...there is NO downside! Yippeee!
Exactly, you reward failure, and guess what, you will get failure. Pretty fucking simple.
So wrong, but awesome!
+1 Priceless.
No, really.
Actually that song is only working for those in the right information/means strata. There are others trying hard to pay who are suffering that would be stung hard as hell by that song and the responses here.
Not that I disapprove of the video (clever) or the responses. It just needed to be said this is not everyone or else there would be no homelessness, doubling up, unemployment, emergency benefits, or foodstamps.
True, though it has nothing to do with "means" in my experience. As I have always argued, it is stupid to "walk away". Just stop paying and stay in place. Then after a few months play the game and pretend you are going to get a modification. You can string a default out for 12 months easy.
Those who are struggling to pay an underwater mortgage are victims of their own misguided moral compass. The government (Administration and Congress) have set the moral guidance by their immoral acts, why should the citizens act any differently.
I think this kind of humor sets a bad example for future generations.
LOL