These thoughts are late because I did not have any this morning. This market looks to be eating a bunch of traders up. I tried one trade and got stopped moments later. I have missed a couple of others.
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My main reason for this post is I am pissed at the nuts in DC and this subprime mess. I am so sick and tired of people wining about this. I do not understand. The rich are going to get screwed for this. The middle class is going to get no help for playing by the rules and there is the possibility that a bunch of people who never should have owned homes in the first place - will get help from the government. Give me a break. If I see one more example of a person who is having trouble making it - who was using credit cards to buy things they should not and then they refinance their debt with subprime to pay off their credit cards and/or buy a motor cycle and/or remodel their kitchen and/or make a play are for their children in the backyard that they deserve - I am going to throw up. Example after example were stupid people are doing stupid things with their money. I have had friends complain about the lenders like they ripped them off but after asking all the questions like "did you know the rate could go up?" - I get the "I guess so but it shouldn't" - I then ask "why?" - i get "I do not know but the government should do something about it before they take my new bike away". People grow up.
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It would be one thing if someone was dieing of cancer and had to refinance because of not making ends meet. Sad, so sad.
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