Half the country is still angry about the current economic situation

[eridani]

http://www.doctorhousingbubble.com/strategic-default-world-mortgages-30000-default-monthly-cash-flow-increase/

From the Kellogg surveys we find that half the country is still angry about the current economic situation and keep in mind we have just witnessed a 70 percent stock market rally. Apparently the bulk of the population wasn’t invited to the party. It is time we have our own Pecora Investigation.

Strategic defaults have also provided a short-term stimulus into the economy. After all, if you aren’t paying a $4,000 mortgage and now rent a $2,000 place you basically have increased your cash flow by $2,000 per month to buy more consumer goods. We’ve seen car sales jump up recently and we have seen spending tick up as well even though the unemployment situation is still near the trough and wages are stagnant. It would be one thing if people were spending more because they were earning more but this isn’t exactly what is happening.

Strategic defaults have a limited shelf life. After two more years, most of the crap mortgages will be wiped out of the system. Then what? I’m not sure we should be excited that a large number of people have stopped paying their mortgages and are now using freed up cash flow to buy more consumer goods. Is this the purpose of the bailout? What a farce.

The fact that we have tens of thousands of people able to pay their mortgage but not doing so tells us that many people are simply following the path Goldman Sachs has laid out. Game the system. Screw the majority. This is how the game is currently being played. Yet this isn’t sustainable. Just look at how the market is reacting with the Greece bailout (you do realize we are partially bailing them out as well?). The current system is rewarding the wrong people and the majority in the public gets this and that is why you see data like the above in surveys. Strategic defaults are merely an extension of this. What people are saying is screw this mortgage and walking away (not before they yank out as many months of free rent before the bank moves on the property). Banks have been doing this kind of crony robbery of the public for decades.

[Whoa_Nelly]

1. Just half?

Am sure there are many who have not been polled that could up that estimate.

[msongs]

2. well goldman sachs is running the country now lol and it is happy as a clam in dip nt

[Schema Thing]

3. Mainly because

[MisterP]

4. well, Wall Street's doing good: what more do they want? jobs, wages, and social services? knr

[laughingliberal]

5. Yeah, I've seen the light. I refuse to be held to a higher standard of personal responsibility

just because I'm a poor working stiff. F that!

[TheWatcher]

6. Indeed. However, the other half is so busy "feeling good" about the manufactured false reality that

has been sold to them, they couldn't care less, won't read this post or any post like it, shout down anything that interferes with the aforementioned false paradigm they are pretty much willing to die for than listen to any common sense, and keep their "Perception Is Reality" Feed bags firmly strapped on, even if the whole country Burns To The Ground ala Rome.

I've pretty much given up on the idea that our country will ever return to it's senses.

America is now more about Managing the Perception of Reality, and finding more clever and methodical ways to Hide it and Fabricate it than about actually solving any problems, or working for real change.

Politically, we're nothing more than an NFL Rivalry gone wrong.

We've become the Soviet Union with better TV, and Predatory Capitalism.

[Egnever]

7. Wow careful you will break something

Thats a lot of angst in that post.

[TheWatcher]

8. People often mistake Angst for the simple facing of reality. It's become an artform on DU that is

quite fascinating.

It is only eclipsed by the even more fascinating and interesting ways people manage to completely ignore reality, and grasp for any sound byte, any crumb of Propaganda that will facilitate the false reality they defend with unending vigor.

You can downplay my words however you wish, because it matters not in the least to me.

I get it. I honestly do.

We must Believe in "The Cake" no matter how much of a Lie it is.

We are not allowed to believe anything to the alternative.

"The Recovery" is a complete lie and falsehood, and whether it be later this year or the next, The Stock Bubble will once again Collapse, and the screaming and bellowing from here and offline will begin for yet more Gun-To-The-Head Bailout Legislation to exclaim "THANK GOD IT PASSED!!!!!!!!11111 to, so that we can repeat the Bubble/Bust Cycle all over again.

And I say this not because I want the Economy, Obama, our Party, or our Country to fail, or any other of the nonsensical memes that are tossed around here daily at anyone who fails to tow the line.

I say this because it is the Truth. All one needs to do is observe the past three Boom/Bust Bubble Cycles in this country the past 15 years to see this is nothing more than Wash/Rinse/Repeat, Problem/Reaction/Solution.

This country is going to great lengths to prove it cannot learn from history, however immediate or far in the past.

I will say this, though. I COMPLETELY agree and embrace that ignorance is bliss.

And that is a good thing for most in this country.

Why, when the Hard Rain Falls again, most will not even know they are getting wet.

The millions of us who can see what is really going will make sure not to bother the rest of you with our "angst".

We've learned our lesson for the most part.

It's like trying to convince a roll of packing tape that it's about to rain.

Now, feel free to poke fun and mock as you will.

And remember to keep smiling when you notice an odd smell coming from the fan. :hi:

[Quantess]

9. Yes, the truth hurts.

I still say we are a falling empire.

[AllentownJake]

10. Culture of happy thoughts

There is a sub segment of the population that believe they can think things into reality. It is a disease and a curse on humanity.

It has its origin in corporate culture of the 1980s where executives and mid-management asked to do horrifying things to their employees had to be brainwashed first it has spread like a cancer to every segment of this population and every institution.

You see it on here quite a lot particularly on economic threads.

My favorite is that when I was more active as a poster on economics, that I was talking down the economy and hurting America.

In reality, people who have jobs and are secure that they will have a job tomorrow spend. People that don't and don't have access to credit, don't.

Explaining that simple concept though....well if you've bought into the culture of I can think myself into prosperity, reality is the enemy.

[marions ghost]

12. True, I find this mentality

in the actual liberal community I live in, as well as the virtual. There's a lot of delusion and unwillingness to face the difficult truths. It's not only inertia, it's willful blindness. Which I guess reflects a need for emotional protection.

"Manufactured reality" is preferable to many, but like you say, there are a lot of us who aren't buying.

[KharmaTrain]

11. Yet Another Apples & Oranges Poll

While the Great Depression of my parent's time hit the nation collectively...this depression effects different people in different ways. To some it's the loss of a job or whole industry that was outsourced or consolidated or they invested into a 401-K or some other pie-in-the-sky investment only to see it vanish in a period of a couple months. Some have recovered but the trauma of seeing one's life savings go bust is still shocking people...still not sure what happened and why. Two different causes of anger that are inclusive and exclusive...but anger nonetheless.

There's also different sources of the anger. There's the banks and investment houses that deregulated themselves into gambling casinos that used your money to bet on your failure. There's also anger at the government that became complicit partners in this scam and now are taking their dear sweet time in finding out what happened and cleaning up their own regulatory house. There's anger at the corporates who have put their profits and survival over those of the people who actually work and produce and create that profit. The age of the "benevolent employer" have been totally shattered...we're all on our own.

It's hard to get real handle on the anger cause it is directed in so many directions. Many of us here blame virtually all that's happened as a result of "Raygunomics" along with the kleptocracy of the boooosh regime. In the other sandbox, it's all Obama's fault...that socialist...who dares to use the government to do what a government is supposed to do. Add to this a corporate media that knows that playing one side against the other means ratings and loves disjointed polls like these to prove whatever meme of the day they're trying to peddle.