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A comment on Dalio, Biggest Hedge Fund Manager: "developed world has reached its debt limit". Parent comment

Re:Dalio, Biggest Hedge Fund Manager: "developed world has r... by giardini on Monday October 24, 2011 @01:59PM (#3150744)
We've done the same. And now we regret it. Our pension funds and investments have tanked in the various downturns. Well, I guess we can handle that.

Our friends bought million-dollar homes they can't afford and now Obama wants the banks to renegotiate and write their loans down. And those who invested conservatively, like myself, get to bail out the banks and, along with them, my profligate friends.

IOW you and I are the suckers in this game. We can be smug about our "wise" choices, but the way this game is playing out, anyone who tried to be fiscally conservative is a loser, and the winners are the spendthrifts.

I'd like to say more, but I've got to go to the hardware store and buy a pitchfork and some torches while I can still afford them.

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Re:Dalio, Biggest Hedge Fund Manager: "developed world has r... by mark_l_watson on Monday October 24, 2011 @04:39PM (#3151487)
I hear you, but I would still rather have a less expensive paid for house right now than an expensive home that the government may or may not artificially reduce the interest payments on.
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Re:Dalio, Biggest Hedge Fund Manager: "developed world has r... by giardini on Monday October 24, 2011 @05:05PM (#3151575)
"Reduce the interest"? No, they're going to reduce the principal on underwater home loans!
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Re:Dalio, Biggest Hedge Fund Manager: "developed world has r... by trebor on Tuesday October 25, 2011 @10:31AM (#3154171)
But only if the banks say you qualify. I know someone going through the process (last 5 months they've tried) and it isn't fun, or beneficial at this point.

Don't buy the hype. It has really stressed them, and despite needing that help (value has fallen below their purchase value, that's why they're underwater) they expect to be refused because of how they've been treated.

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Re:Dalio, Biggest Hedge Fund Manager: "developed world has r... by mark_l_watson on Monday October 24, 2011 @11:38PM (#3152724)
Bummer, I didn't know that. That is just plain wrong.
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Re:Dalio, Biggest Hedge Fund Manager: "developed world has r... by trebor on Tuesday October 25, 2011 @10:34AM (#3154191)
From what I understand of it, the program is for folks who've gone upside down in their mortgage because of inflation and falling real estate value—not bad/underwater loans.
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