What is Digg?Sponsored by Dragon Age: Origins
Can't get enough Dragon Age: Origins? Check out new footage. view!
DragonAge.BioWare.com - EA presents BioWare's new dark fantasy epic Dragon Age: Origins. '9/10' from Game Informer.
216 Comments
- TheChinaExpat, on 10/10/2007, -4/+54Funny how The Post couldn't see this coming until now...
It's been obvious this would happen for years. - inactive, on 10/10/2007, -1/+34This reminds me of the way people talked before the first dot com bubble. For over a year before the collapse I read everywhere, "It's a bubble. Get out it's gonna burst." Then when it did burst I read everywhere how people where so shocked it was a bubble and burst and were caught off guard.. Huh? everybody knew it was a bubble and would burst... everybody knows this housing market sub prime thin g is a bubble and will burst, but expect shouts of outrage and shock when it happens.
people are dumb - AlbinoRaven, on 10/10/2007, -2/+33Whatever goes up has to come down sooner or later.
The blow back will be fairly severe in the emerging markets like India and China. Although China might have enough of a localized economy to take a hit, the lack of consumer trust will eventually catch up as the money evaporates from the system.
The stupid thing is, what was Freddie Mae thinking when they offered loans to huge credit risks. These are people that can't maintain a $500 credit card. How the hell are they supposed to manage a 200k loan?
Oh well, everyone get ready for a hot rental market. All those credit risks have to live somewhere and with a shrinking vacancy rate in rental units, supply vs demand will take over soon enough. - inactive, on 10/10/2007, -1/+29My favorite story from the subprime problems is a guy who was a janitor making like 22 thousand a year getting a loan for a home, and the loan agent came up with a job description like senior waste removal technician.
The guy lost his home cause he couldn't afford the payments, and the loan was already sold to a larger institution and they get stuck with the bad loan and the original loan agent makes a cool 5 to 10 grand and is off to sell the next bad loan... - dbhaley, on 10/10/2007, -3/+31Subprime lenders have created an avalance. Way to go, *****. I guess you could blame the people buying ***** they can't afford, too.
- husker6294, on 10/10/2007, -2/+24The real concern that I see is that this will continue spreading globally. As America becomes less of an attractive location to park money globally due to rising default rates on loans, (or even the perception of rising rates), investors from overseas will slow down their purchases of dollar denominated assets. Once that happens the dollar will slide even further against foreign currencies as demand for the dollar falls. That means several things, US exports are cheaper to buy overseas but also imported goods become more expensive, ie, inflation will rise. Perhaps more frightening is the risk that the US dollar will no longer be the international vehicle of trade for things such as oil due to it no longer being a good store of value. If that occurs then you are likely to see countries lowering their foreign reserves held in US dollars and that will push the dollar down even further.
IE We could be up S#$% Creek. - brandonvan, on 10/10/2007, -1/+19ironic that the ads on their sites right next to the article advertise cheap loans.
- totallyAMAZING, on 10/10/2007, -3/+20Yeah, watch rich people buy up all those houses at bargain prices and then rent them out again and get even richer.
Although, for the other 10 or 15 responsible Americans out there, you're about to get the best deal you've ever seen on a house. - inactive, on 10/10/2007, -3/+19"I guess you could blame the people buying ***** they can't afford, too."
That's why I say credit is probably the single most evil thing ever invented. It encourages people to overspend while not thinking about the consequences. FED credit to the government has jacked out economy all to hell.
But, the biggest thing about credit is: the poor usually can't manage money very well...so credit hurts them the worst in the long run. Yeah, they can buy that car now, but when they can't make the payments in a year...it gets reposessed and then they don't have a car AND they have a huge debt to the credit lender. Credit *keeps* the Poor poor. Credit is EVIL.
That's why I only deal with cash now. If I don't have the money to buy something this moment, I don't need it. I'll save until I have the cash to get it. No exceptions. - inactive, on 10/10/2007, -2/+17I don't know why people are digging you down. At least the part about overseas switching from the dollar is correct. A whole slew of countries have switched from the Dollar to the Euro for petro dealings. Iran just changed from the Dollar to the Yen. The value of the dollar continues to plummet. Yesterday, it was equal with the Canadian dollar...and it's been a long damned time since that's happened. Throw on top of that: China owning a good chunk of our debt.
If the dollar continues to plummet and China cashes in their bond debt -- instant depression. We WILL be *****. We'll end up looking like Russia in the 70s and 80s. - inactive, on 10/10/2007, -5/+18Meh, market will cool 1980's style and then rebound. The gov has to stop spending money though.
- sacherjj, on 10/10/2007, -2/+14When you have two people that work at Taco Bell, who are convinced that they can afford to buy a $120k home, the lenders are the crooks. They know that the house will be foreclosed on in less than two years, but they will have already sole the bad debt. It should be as illegal as Check into Cash joints.
- sacherjj, on 10/10/2007, -0/+11"people are dumb" - That about sums it up.
- perversatile, on 10/10/2007, -3/+12Ha. I rent.
- hokie47, on 10/10/2007, -6/+15What this shows is that most American's are not as rich as they show. Many of us have been living off cheap debt for too long, all thanks to Alan Greenspan's unwise easy money policies that helped make our savings rate the lowest ever. Now we are paying for our spending indiscretions.
- truspark, on 10/10/2007, -0/+9Yeah but aren't the rates going to go sky high as well? You'll end up buying a house for 50k less than it's going today but you'll have the exact same payments because rates will jump a couple percentage points. Well, you'll at least be able to refinance in 20 years when rates come back down again.
- OswaldKenobi, on 10/10/2007, -4/+13This article has nothing to do with Iraq. Nice try, though.
- Y0tsuya, on 10/10/2007, -1/+10Back then we didn't have the subprime fiasco and the upcoming Alt-A collapse. Several analysts have already said we're in uncharted territory.
- EComni, on 10/10/2007, -1/+10Uh, you know houses cost different amounts in different parts of the country, right?
- norman619, on 10/10/2007, -0/+9Isn't it sad when owning a home is a dream?
- jasonkolb, on 10/10/2007, -2/+11The only difference between this and the tech bubble is that people don't live in Web sites.
- kazamx, on 10/10/2007, -1/+9Thats the point. Its growing thanks to debt. People aren't buying things with real money. At some point not only will the money borrowed need to be paid back, but the interest as well. When this is paid back people buy less. If people buy less then companies sell less, they lose money and lay people off. The companies have less money and spend less and the people who lost their jobs have less and spend less. this results in a second round of companies selling less and more people lose their jobs, then a third and a fourth round.
One of the traditional ways of getting out of a recession is for the Government to increase spending to pump money into the economy and increase buying. A good example of this was the hoover dam being build during the depression. The problem just now is that the Governemt is so deep in debt it won't be able to afford to pump money into the economy. in fact it might have to do the opposite. You see as everyone is earning less (because they lost their jobs) and companies are making less profit and people are buying less the Government has less money coming in as tax, as its already in heavy debt it can't afford to keep spending as much as it does now and has to lay people off and cut spending. this makes the whole cycle worse.
This is pretty much happened in Japan. - hansonc, on 10/10/2007, -1/+9it might not "loose value" but it probably will lose value
- BlacklabelSAR, on 10/10/2007, -3/+11It's all part of the Federal Reserve's cycle of ***** the poor, which now means anyone who isn't ruch enough to buy up the under-priced foreclosures. Here comes the North American Union and the Euro as it's currency. People will be so afraid of being broke that they will go along with the NWO agenda. It's a financial terrorism.
- mseneschal, on 10/10/2007, -0/+8Debt is bizarre - a form of money that makes you poorer. Imagine eating a food that made you hungrier. Yet borrowing is going up and up.
The effects of this can be devastating, including family breakdown, homelessness and suicide. More, such a culture deemphasises the virtues of thrift and self-control and makes it easier for society to ignore the plight of the most economically vulnerable for whom debt is often the only way they can make ends meet. - norman619, on 10/10/2007, -1/+8Now THAT would be funny. A mass exidus from the US to Mexico.
- Y0tsuya, on 10/10/2007, -1/+8Many people are already making the comparison. Don't forget the roaring 20's is followed by the Great Depression.
- orlyfactor, on 10/10/2007, -1/+8Same *****, different day. I deal in cold, hard cash. I laugh at all of you who have ARMs and bought houses you really couldn't afford. The idiots will get their comeuppance. Comeuppance, I say!!!
- edstate, on 10/10/2007, -0/+7Just don't go illegally. They'll throw your ass in jail.
- mambonova, on 10/10/2007, -2/+9Blaming Greenspan and "the invention of Credit" is preposterous. It's like blaming sex for F***ing around and getting STD, unwanted pregnancies, divorce, co-dependency, and an awful lot of lack of self-esteem... People need to learn to be responsible for their actions. Turn off the TV -- stop buying crap you don't need and live a happier life. The Age of Idiocracy has begun (cool movie, too). /pg.
Ps. I bought my place in DC in 1998 for $150K, price went up to $450K (now down to $390K). Paying $1,300/mo mortgage -- will rent for $2,600. For-rent sign coming tomorrow. Moving to the Caribbean.. Cash out now. Nice... - akaeding, on 10/10/2007, -1/+8I remember hearing about this thing that happened in the "roaring 2o's" They called it "buying on the margin" investing huge lumps of money into stocks...but not actually having any money to coever those investments...the hope was...with a huge buy the price will inflate...then you could turn your profit before anyone came looking for the original investment. Someone out there is bound to correct my elementary school interpetation of that process...and I welcome it...but isn't what we are currently seeing sort of similar?
I mean...can I use my high interest credit card to buy up as many shares of a hot stock as possible...hoping the the ROI is greater than my Interest rate on the card? Genius!! right? - norman619, on 10/10/2007, -1/+7It's always botherd me that such a large chunk of the population lives on debt. Live beyond their means. I've been told that is what keeps our economy running. If this is true then my god is that sad.
- CaptainDoodie, on 10/10/2007, -1/+7One of the biggest reasons that Americans don't save money is because interest rates have been so low lately that it makes little sense to save money. Higher interest rates means your saved money makes more money.
In addition, it might mean that the US Government might finally pull it's head from it's ass again and stop spending more money that they make in tax income. - hansonc, on 10/10/2007, -1/+7most of the country. you know those "fly over states"
- kazamx, on 10/10/2007, -4/+10I thought Greenspan had been warning about this for years. He has been telling the Government and the people to cut their debt. He was just seen as a party pooper, everyone was having fun, and didn't listen.
He could only run according to the economy, he had to make sure things ran well while we were spending all that money, keep inflation down etc. He couldn't stop us borrowing - cwcentral, on 10/10/2007, -0/+6No it won't be a hot rental market. The rentals already have high rates, especially in big cities. And who's going to want to a rent to a person who just defaulted on a home loan and can't hold a $500 credit card. Not me.
Rich folks are laughing to the bank. They're skiming off all these scams and we end up paying for it. They in the end lose little. - nakani, on 10/10/2007, -1/+6The bankers are laughing about this all the way to well... the bank :P
http://video.google.com/videoplay?docid=-1656880303867390173 - andy3109, on 10/10/2007, -0/+5Deflation happens every so often...and every time it happens everyone says, "ITS THE END OF AMERICA." At this point the American economy certainly isn't a positive slope, but we aren't as bad as everyone panics about.
- norman619, on 10/10/2007, -0/+5I'd like to see how the governemtn plans on realisticly dealing with the out of control national debt. Responsible spending my ass.
- orlyfactor, on 10/10/2007, -0/+5Couldn't agree more man, way too many people driving in cars they can't afford, living in houses they can't afford, and just buying stupid *****. I laugh at them on a daily basis. Common sense FTW!
- gernblansted, on 10/10/2007, -0/+5People are digging this stuff down because it bothers them. It's called cognitive dissonance (http://en.wikipedia.org/wiki/Cognitive_dissonance). People will gladly change their belief systems to avoid it. That's why there is so much denial about our economic future, even from otherwise rational financial analysts.
- halligan00, on 10/10/2007, -2/+7This is a necessary and integral result of allowing private banks to control our money supply.
The total supply of USD has increased $10 Trillion in the last 50 years. That's more than 8% a year. More than $800B a year in recent years. It's not in the federal budget, because it's lent into existence by private banks, who lend it at interest. This, at a time when our federal government is spending $500B of our wages a year on interest. We could have a $1,300 Billion dollar budget swing if we ceased to allow banks to do this, and simply spent this money into existence.
Set aside 47 minutes while you eat dinner and watch:
http://video.google.com/videoplay?docid=-9050474362583451279&q=money+is+debt&total=1036&start=0&num=10&so=0&type=search&plindex=0 - appetite, on 10/10/2007, -1/+6Yea, credit card companies aren't complicit at all. They are good guys just sending me about 3 letters a day saying "No interest, no payments until 2012", "Transfer Your Balances Now!" "Get a free DVD player when you put $500 on your card!" and hiding all the late fees, transaction fees, finance charges, etc.. Oh, yea, and then lobbying for bankruptcy 'reform'. Yea, we should get them all medals for their service to the country.
- Y0tsuya, on 10/10/2007, -1/+6Bay Area is Alt-A central, chock full of no-doc, interest-only or neg-am ARMs. The rating agencies are planning to downgrade prime Alt-A tranches in CDO bonds, before they're even finished with subprime. They know what's coming. This has nothing to do with jobs, it has everything to do with affordability. But hey, by all means keep your head in the dirt. Whatever floats your boat. I'll stay out of housing market and preserve my capital.
- nakani, on 10/10/2007, -0/+5Digg: the #1 place on the internet for financial advice
- norman619, on 10/10/2007, -1/+6These guys are just pissed becasue their house value is droping into the toilet and you will get a sweet deal on a nice home once you decide to buy. Sour grapes as they say.
- hokie47, on 10/10/2007, -0/+5We have been living off cheap debt for too long, in part thanks to Alan Greenspan’s unwise easy money policies, our foolish lending practices, and dumb sheepish Americans.
“Bad credit, that’s ok!” “No money down, that’s fine” “No income verification, that’s ok too” “Don’t save, spend, spend, and spend some more, it is all good you can get a home equity loan and get even more into debt.”
(5 Years later)
“Oh *****, what do you mean I can’t get my home refinanced anymore?” “Well, see your credit sucks, the value of your house is worth less than your mortgage, I can’t lend you any more money.” “Also, by the way no one will buy your home for what you paid for it.” “Overall, you are ***** out of luck.”
“That is ok our government will bail us out, Right?” “Well normally they might, but our dollar is ***** because of our out of control spending, and inflation is ready to take off, so there is little they can do.”
“*****” “Yeah, I know” - Charlotte_Web, on 10/10/2007, -3/+7From the Associate Press today:
"Economic growth is strongest in a year"
http://news.yahoo.com/s/ap/20070727/ap_on_bi_go_ec_fi/economy;_ylt=AkiyqhHtzHU7SduH.F9RK.ms0NUE - inactive, on 10/10/2007, -2/+6Actually, the majority of my savings is invested in gold. Like I said, I learned from my mistakes.
- catalysis, on 10/10/2007, -3/+7Can't wait for the housing market to crash so I can take my hard-earned money and grab a nice place.
-
Show 51 - 100 of 220 discussions
© Digg Inc. 2009
— Content created and posted by Digg users is