Saturday, June 27, 2009

splish, splash

From Mark L: I'm perplexed by what I see as a total lack of change in virtually everyone's lifestyle around me. I live in New York's Upper East Side, and I am stunned by the continued volume of spending and the continued lack of financial awareness displayed by my most of those surrounding me. Can this really go on unheeded?

- These people are much like those who invested everything with Bernie Madoff. They don’t realize that there is nothing underpinning the economy that is providing their income. They think that their lifestyle is secure because they have done all the "right things". The coming wave of foreclosures is made up of people with prime loans that have just now missed their first payment ever. The thing about waves is that they spread and propagate new waves, some predictable and some not. Most people don’t have any idea how top heavy their own boat is. - Prairie2

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