Quote:
Originally Posted by baddog
the tubes
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LMFAO!!!!!!! Sooooo true because we're whoring ourselves for crap traffic, training surfers to never pay for anything and destroying the value of our online product.... need I say more?
Back to the topic though.... the economy can only blame itself... due to greed in ALL sectors, mainly bad home loans in the housing market where banks, mortgage firms, brokers, etc... literally gave homes away to those who couldn't even pay off their Macy's cards just to get the mortgage sale.
Think about it, $0 down for a $500,000 home
(doesn't seem too smart, does it? LOL).... when it forecloses, that's one big nut for a bank to have locked up in depreciating assets, with no incoming liquid to do anything. Now take that one big nut and multiply it by millions of homes. Wala, we just froze our cash flow, literally.
I've been taking advantage of it though buying up some really nice dirt cheap condos to flip them into good profits. People migrate from homes to condos/apt units during times of recession.... hence one way of creating profit from hard times.
Many people get rich during these times. Think smart. ;)
Peace
Ben