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06/08/2011

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william mcdonald

Just walk, debt zombies! Walk away from the debt!

If you can afford it, just file bankruptcy- get a fresh new start.

If you can't, go off the radar screen or if you are tied down due to kids,etc- go buy a Nolo Press book and file your own bankruptcy.

Whatever you do, don't keep listening to the experts on the television, you know the ones who never saw a housing bubble coming, or saw it popping soon.

The rich have outsourced the good jobs, they ain't coming back, you ain't ever paying off your debts on what you will be making when you finally get another job. Nor will you ever overcome the power of compound interest.

Get off the treadmill before the bankers wise up and make the bankruptcy laws even more draconian.

John D

As I understand our predicament, my priority over the last several years has been to work to reduce my debt. Unfortunately, after I am done I am sure I will get another bill (in some form or other) to help bail out the blissfully ignorant going on their happy spending ways.

gg

Cinched my belt hard, and paid down my debt over the last few years. Unfortunately my salary was cut and then frozen at the same time. However, I am most thankful to have a job and a house to call home and don't mind if it's considered underwater now. From what I read in the classifieds, I'd be paying the same price monthly for a home if I had to pay rent. At least now I have some chickens, a garden, etc. and can follow my own rules such as keeping dogs. I am getting a rifle next for protection as there have been 3 instances of burglary over the last few months and I fully expect things to get worse.

John Andersen

We're considering selling and moving to an apartment in an even more walkable neighborhood. Ours has a walk score in the high 80s.

Perhaps there are still people out there who think real estate going to recover. That's the type of person we would like to find to buy our house.

Loveandlight

While I tend to have similar values and priorities as the liberal neo-Keynesians, I've never been able to wrap my mind around how they can talk as if there's no limit to how much debt can be taken on. At some point it becomes a crippling burden, and by the time an economy has reached this point, it starts experiencing the principle of dimnishing returns in a huge and major way. In fact, the amount of return on new debt certainly starts decreasing before that point. When the "crippling" point is reached, the returns on new debt enter the "terminal decline" phase. I guess our society won't really "get it" until returns on new debt become inevitably and universally negative.

sharonsj

No, it's the economy, stupid. The debt is a long-term problem that can be fixed. But if the morons in Congress don't do something now, the country will continue to crumble to the point of no return.

We are spending trillions to "fix" Iraq and Afghanistan, but we don't fix our own infrastructure. We don't police the borders. We've given tax breaks and tax credits to the rich for more than a decade, but it hasn't created jobs. The rich aren't spending some of that money on decent salaries and benefits for the average American, they're buying more yachts. The inflation they say doesn't exist is killing us. Oh, and we have no energy policy other than bending over for the oil companies.

The Republicans are religious fruitcakes and the Dems are spineless--and both are corrupt. I don't see any of them doing a thing to help us. Seems to me that civil unrest is just around the corner.

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