Don't Panic!
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Channel your inner Nietzche
I'm making this page about not to panic over subprime crisis because...at the end of the day it isn't the end of the world. Really? As they say on Grey's Anatomy, "Seriously!"
Plus, some have a downright funny outlook about it. If you live within your means and can stay the course you'll be just fine. Really? Most definitely. This page is the lighter side of the subprime mess.
What doesn't kill us makes us stronger. - Friedrich Nietzsche
A lighter look at the subprime crisis
Take a deep breath.
In...out...
Roll your shoulders.
Take a seat.
Relax...oh and hold your stomach while you rub your head and pat your tummy...
John Bird and John Fortune - Subprime Crisis
FOR SALE
You're feeling the pinch. Housing prices are falling, fallen, flatlined. Some would say, it was only a matter of time. After all, if the market was inflated, it needs to adjust.
Only problem with that is some owners simply didn't understand the terms of their mortgage. Others didn't have the cash in hand that they needed to sustain a mortgage. Still others lost their main source of income. Stories vary.
What doesn't vary is that for most caught in this financial mess, they shouldn't have been given a noose to hang themselves to begin with. We often hear about the American dream:
a house, with a white picket fence, a boy and a girl, a dog and a cat, a big tree in the front yard with a swing...pies cooling on the porch, where everyone knows their neighbor, kids can walk to school...
What we don't hear about or want to pretend isn't true is that the dream will be elusive for many as they simply don't have the wherewithal to live the dream of home ownership.
Nothing wrong with having a dream. The problem comes to rear it's ugly head when we want that dream before we've earned it or have saved up for it. Paying in cash or saving for a luxury item seems to have been a thing of the past. A quaint thing our grandparents or parents did. No more. Or at least hasn't been seen for decades in our 24/7 world.
Perhaps the silver lining in this entire thing will be a return to the basics. Living within ones means. Where cash is king. It'll be a different world...
Chances are it'll be the same until the ones writing the legislature are giving the boot or term limits. Until then, it's business as usual in D.C. - whatever bleeds, leads.
digital picture by Howard J Duncan
How do you view the subprime situation?
The Shafters!
global economic meltdown
To do...
1. spend, spend, spend
2. credit cards rock!
3. live life spontaneously
4. blame Bush, blame wallstreet, blame everyone except whose really at fault...
5. don't vote
To do what you've always done is like hitting your head against the wall. Don't you think it's time to stop banging your head?
What are the blogs saying?
To see if there are actually people out there that get it. I mean, really and truly get it.
In our 24/7 world with yellow journalism and panic mode "The sky is falling!" it's nice to fnd down-to-earth solid people who don't go off the deep end the second something chnages in their world.
Change is about the one constant we should all be able to agree on. Yes? No?
When did we as a society become so "ahhhhhhhhh...the end is nigh"? I just don't get it. OK, it isn't pretty. Still if you've got wealth and are in the black there's great opportunity for you now. Yes. NOW!
- Paul Krugman: economic guru, European hero
- The curse came only after Wall Street wrecked the world's financial system by selling derivatives based on shaky subprime mortgages. For Krugman, Spain is ?the emblematic euro crisis economy,? where huge inflows of easy money fed an unprecedented ...
- Why China is likely to end in a disorderly economic collapse
- There is a crisis of confidence unfolding in China that is likely to end in a full scale capital flight and a disorderly collapse in both economic and political cohesiveness. By Expert Panel | 04.06.2012 By Craig Tindale, DebtWatch There is a crisis of ...
- Amid the eurozone panic, a greater threat is lurking
- As we've noted before, this is just the same sort of reassuring waffle that we heard before the subprime crash. It's not a million miles away from the sort of statements about Greece that we got used to seeing from eurozone officials in recent years ...
- Are the UK, US and German safe havens safe at all?
- Yet the lending boom it unleashed has raised fears of a bad-loan crisis, with China, uniquely among the large emerging markets, now seen as a candidate for a subprime crisis of its own. ?Current efforts for stabilising growth will not repeat the old ...
Ready? Get set...GO!!!
“What is subprime lending anyway?”
Piece of History
Want to know more?
- Subprime mortgage crisis - Wikipedia, the free encyclopedia
- Subprime mortgage crisis From Wikipedia,
The TED spread - an indicator of credit risk - increased dramatically during September 2008.
The subprime mortgage crisis is an ongoing economic problem that became more apparent during 2007 and 2008, - FHEO - Subprime Lending - HUD
- Typically, subprime loans are for persons with blemished or limited credit histories. The loans carry a higher rate of interest than prime loans to compensate for increased credit risk.
Many have questioned why minorities appear to be over-represented in the subprime lending market. Studies reveal that even in upper-income African-American neighborhoods one is one-and-a-half times as likely to have a subprime loan than persons in low-income white neighborhoods. In neighborhoods where Hispanics comprise at least 80 percent of the population, they were 1.5 times as likely than the nation as a whole to have a subprime mortgage loan.
Some allege this disparity to be attributed to subprime lenders purposefully marketing to African-American communities-what some have called reverse redlining. They allege lenders will provide loans to these communities, but at a higher cost and with less favorable conditions. - BBC NEWS | Business | The US sub-prime crisis in graphics
- The US sub-prime mortgage crisis has wide-ranging effects on the housing market, the economy and the financial sector.
This site has graphics that for visual learner might be the ticket to understanding the subprime and what the current situation means. - Slide Show
- Not for the faint of heart. Some bad language.
- Subprime timeline - Sep. 15, 2008
- Hints of turmoil in the subprime mortgage market began to surface less than 2 years ago.
Life is rarely as bad as it seems.
For many in the world the subprime didn't hurt them because they were disenfranchised from the beginning.
We'll be fine. We can work. We've a roof over our head. We've got a budget. We're okay.
The Food For Everyone Foundation's mission is to teach and assist families everywhere to grow successful and sustainable vegetable gardens, and really enjoy the experience.
The sky is falling! The sky is falling!...er...maybe...maybe not!
FFor those that want to know how we got here, what we can do to buffer ourselves, and how we can be sure to not get here again. Perhaps one of these books will help.
Course my grandma would just say "Can't afford it? Don't buy it."
Is your financial house in order?
Need more cash in hand?
At least in society today shopping vintage or dumpster diving are seen as badges of honors. The world has indeed changed...for the better.
Growing up it was rare for anyone to wear glasses and now look at the storm Sarah Palin has created with her stylish rims. No "four-eyes" for her! Peter Fallico has made things from scratch or refurbished old into new as has Sarah Richardson. Not to mention the Junk Brothers and She's Crafty.
No, there's no longer shame associated with second hand. There's no longer shame associated with wearing glasses. In fact, there's no longer shame in being cheap - yay! - Scotsman everywhere rejoice. Stingy is an entirely different matter all together.
There are several shows on TV that are helping people with their finances and helping them achieve their version of the American dream.
These links are some I enjoy. Some of the suggestions don't fit my lifestyle and they might not fit yours either. However, you may find a couple that hit home with you. It's your life. It's your American dream you want to make into a reality. Don't you?
Remember: short-term pain for long-term gain.
I know, I know...who every said life was going to be easy? Yep, your financial health needs to be exercised just like everything else that's important to you.
Breathe...relax...and most importanly have fun!
"Seriously"
- The Simple Dollar
- A personal finance blog focusing on ordinary people dealing with unprecedented levels of debt.
- Suze Orman internationally acclaimed personal finance expert : The Suze Orman Show : Will & Trust Kit : FICO Kit : Insurance Kit : Women & Money
- Take charge of your own personal finances by getting to know Suze Orman, an internationally acclaimed personal finance expert.
- Gail Vaz-Oxlade.com
- Official site of Gail Vaz-Oxlade - TV personality on Til Debt Do Us Part
- SmartCookies.Com - Manage Your Money For A Better Life and Spend Smarter
- The Smart Cookies Money Managers learn to manage your debt, personal budget and improve wealth with our money mentoring, spend better and spend smarter with six easy steps
- The Truth About Debt
- Find out why Dave Ramsey says debt is dumb and why wealthy people don't use it.
A lighter touch...
How to be financially successful:
Educate yourself & build your own American dream
The reality is, that most of us can be financially secure and we'd be better off had we started when we were young. For those of us that can work, read, and learn it's not to late as there's a wealth of material out there to help.
These three are just a tip of the iceberg. I chose Tightwad Gazette since they've been around for as long as I can remember...they were on Oprah when she was rubenesque. As for Gail Vaz-Oxlade, her current show on TV Til Debt Do Us Part is a great resource for anyone struggling to pay the bills and find their relationship with their spouse, kids, or relatives waning.
VOTE!
What else can you do?VOTE That's right. VOTE
Why? Because it's the legislative wing which spends the money sent to Washington, D.C. It's Congress that spends the hard-earned money of the taxpayer.
Regardless of your political leanings, if you want more of your money in your pocket then it's the legislative wing that should be focused on.
VOTE
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