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What do you call it when your property goes down in value and you work harder than ever for less*?

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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:31 PM
Original message
What do you call it when your property goes down in value and you work harder than ever for less*?
Reaganomics.



* That is, if you have a job.
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truedelphi Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:34 PM
Response to Original message
1. Oh, now,if you're whining abut it, or angry about it, it's called
"Class Warfare."

Them Rich Folks on Wall Street deserve taking every last dime away from us slacker types.
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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:39 PM
Response to Reply #1
4. Absolutely world at war, truedelphi.
A Freudian might say I've hated my parents for not birthing me on third base.

On the other side, they did instill a sense of right and wrong. Unlike one former pretzeldent, who said:

Money Trumps Peace.
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rhett o rick Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 05:27 PM
Response to Reply #1
22. The poor bastard tea-baggers think that maybe, someday they can be on the winning side in the class
war. Morans.
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Withywindle Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 05:27 PM
Response to Reply #1
23. Yeah, they only call it that when the poor fight back.
When it's just the rich attacking the poor, it's just business as usual in a "free market" society.
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Greyhound Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:36 PM
Response to Original message
2. Class warfare. K&R. n/t
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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:43 PM
Response to Reply #2
5. These servants of the have-mores specialize in historic transfers of wealth.
Know your BFEE: Phil Gramm, the Meyer Lansky of the War Party, Set-Up the Biggest Bank Heist Ever.
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bbinacan Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:37 PM
Response to Original message
3. Deflation. n/t
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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:45 PM
Response to Reply #3
7. Money can buy the best, from brains to banks.
Some friends, too.
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treestar Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:44 PM
Response to Original message
6. that head does not seem to go with that body
Like an early failed photoshop.
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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:52 PM
Response to Reply #6
9. Like this famous patsy?


Poppy Bush brought up JFK Assassination and "Conspiracy Theorists" at Ford Funeral
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yourout Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:46 PM
Response to Original message
8. Republican paradise.
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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 05:00 PM
Response to Reply #8
14. Certainly seems to work out that way.
How they did it:

"In 1985, the top five percent of the households, wealthiest five percent, had net worth of $8 trillion, which is a lot. Today, after serial bubble after serial bubble, the top five percent have net worth of $40 trillion," he explained. "The top five percent have gained more wealth than the whole human race had created prior to 1980." -- David Stockman

Success has a thousand fathers.
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peace frog Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:53 PM
Response to Original message
10. Redistribution of wealth
taken from the middle class and redistributed to the wealthy. It's the New Normal in America.
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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 05:08 PM
Response to Reply #10
16. The new normal.
The War That Dares Not Speak Its Name - Class War in America.

And we're supposed to STFU and move on. "Get over it. You lost."
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dkf Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:53 PM
Response to Original message
11. When your property goes down in value it was probably a bubble.
The problem is that Americans thought they could make money buying real estate and never incur a loss. But the increase in prices were exaggerated due to the standards in lending and when those loosened standards led to defaults it popped the bubble.

Buying a house is the biggest financial decision a person will ever make. It must be taken seriously with all the contingencies accounted for because if you make a bad decision in this area it is very likely you will lose everything as too many have found out.

You cannot afford to be financially naive in this world. Financial education is a basic necessity.

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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 05:24 PM
Response to Reply #11
19. Bubbles are a big boy's way to reset the shakedown.
Taibbi’s Takedown of ‘Vampire Squid’ Goldman Sachs

From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression — and they're about to do it again

The thought crossed my mind:

Know your BFEE: Goldmine Sacked or The Best Way to Rob a Bank Is to Own One
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dkf Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 07:29 PM
Response to Reply #19
27. There is a cynical saying I've heard...in a crash assets move to their rightful owners.
I found this an outrageous thing to say and was really pissed at the attitude. But it is probably a sad reality that leverage will destroy you in bad times.
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:54 PM
Response to Original message
12. The American way?
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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 05:32 PM
Response to Reply #12
25. The other half was getting Tax Breaks for the Wealthy and Supersized Pentagon spending into law.
Scientists, Secrets and Wall Street's Lost $4 Trillion

The Pentagon part:

Know your BFEE: Robert Gates did more than keep the doors open at BCCI
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progressoid Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 04:54 PM
Response to Original message
13. Free Market Baby!!
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felix_numinous Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 05:07 PM
Response to Original message
15. The road to fiefdom?
Bring on the Dark Ages--(but don't forget the Renaissance!!!! ) ;-)
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amborin Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 05:08 PM
Response to Original message
17. of which Summers was an early advocate....
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LibinMo Donating Member (364 posts) Send PM | Profile | Ignore Sat Nov-06-10 05:14 PM
Response to Original message
18. Good call
I thought "Reaganomics" before I opened your post. We have been on a downhill slide since Reagan and the Moral Majority took over. And I am old enough to remember it well!

:toast:
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mrcheerful Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 05:25 PM
Response to Original message
20. 1932?
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old mark Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 05:26 PM
Response to Original message
21. It's REPUBLICAN TIME!!!!! They want to go back to the late 19th century!..nt
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Major Hogwash Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 07:40 PM
Response to Reply #21
29. We're supposed to turn the clock back tonight, not the freaking calendar!!
If they turn it back any further, I'll be like Marty McFly and disappear from all of the pictures in the family album!!
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blm Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 05:29 PM
Response to Original message
24. I call it - NWO has its fascist agenda on the express train thanks to BushInc
.
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valerief Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 05:58 PM
Response to Original message
26. America, Land of the Pillagers and Fools but not the Brave. nt
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Major Hogwash Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 07:37 PM
Response to Original message
28. It's called "The American Nightmare", and no Ronnie didn't star in that movie with a monkey.
My grandparents always told me to be careful with real estate, "you've never seen it devalue like we have". So, I thought everyone else knew it could happen too.

We have brand new $300,000 homes sitting empty, with no buyers, no creditors, and entire subdivisions of those type of homes are just sitting there rotting.
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laylah Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-06-10 07:46 PM
Response to Original message
30. Blood, sweat, tears...
worry, anxiety, depression, restless, nervous, shaken, aghast, acrimonious, bitter, SUFFERING, pained, spiritless, heartbroken, SCARED. Need I say more?

Jenn
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DCofVA Donating Member (554 posts) Send PM | Profile | Ignore Sat Nov-06-10 07:55 PM
Response to Original message
31. Yep, I guessed right.
Good ol' Saint Ronald. Where would America be without you? A lot better off, that's where!
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The Uncola Donating Member (519 posts) Send PM | Profile | Ignore Sun Nov-07-10 10:37 AM
Response to Original message
32. You're correct..
.. and I don't.
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HCE SuiGeneris Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-07-10 11:02 AM
Response to Original message
33. K & R
Edited on Sun Nov-07-10 11:06 AM by HCE SuiGeneris
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TicketyBoo Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-07-10 11:09 AM
Response to Original message
34. Your actual property value may be going down
but, here, with mill levy increases capped by state law, the county assessor insists that your property value is increasing so your taxes go up, anyway. (Never mind what the appraiser says.)
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DirkGently Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-07-10 03:32 PM
Response to Original message
35. The infallible, Invisible Hand of Voodoo Economics, squashing you flat?
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WCGreen Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-07-10 03:37 PM
Response to Original message
36. yep....
We are in that exact situation.

No increase in COLA for my SS in three years now.

Mrs. WCGreen hasn't gotten a raise since 2006.

Yet everything keeps going up up and away.

BTW, our home value has only dropped by about 5%. For that I am gratefull.
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laughingliberal Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-07-10 03:41 PM
Response to Original message
37. I call it the story of the last 30 years...
with more to come...
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