Economy

Suprise, surprise! The housing market declined and many ended up in upside-down mortgages; that is, mortgage that are for more than the house is worth.

We can blame the Republicans, we can blame the Democrats, we can blame predatory lending as well. But we should blame ourselves too. When I was looking to buy a new home in 2002 I was staggered by the amount of money I was pre-qualified to borrow. Staggered. I thought to myself, "How the HELL can I afford that loan? And if I get it, will I then be reduced to eating Kraft Macaroni and Cheese and Ramen Noodles because I can't afford to do anything else?"

Yet, in my business I constantly see people come through that are in financial stress and I note their income and their house and car payments and I see that they make what my wife and I make and wonder what they were thinking when they bought that house for $400,000 and then lease two $40,000 cars. What are they thinking?

Are we THAT insecure that we have to keep up with our neighbors and family? Why can't we live modestly, or more accurately, within our means so that when things get tough we merely have to cut back on travel, or clothes, or whatever so we can keep up our payments and survive for a bit? I think many just continue to live the way they do, but more if their travel and clothes go on credit cards.

Probably the majority of people live within their means. My indictment is on the few crazy ones that have to have their McMansion on Golden Terrace and a Lexus for her and a Mercedes for him to feel self worth only to struggle each and every month to make their payments.

I think we've really lost our perspective in some sense and that doesn't have to anything to do with whether you're liberal or conservative. It just has to do with living with some common sense.

Money, money, money, maaaaaaaoney, MONEY!

I completely forgot that I have a CitiBank Driver's Edge credit card. Pursuant to its benefits, I get cash back every time I buy a car. Well, as you all know, I bought a car! $703 will soon be mine! MINE I say! Mwa---Hahahahahahahahhahaha!!!

Plus, since I'm in such a money-grubbing mood, I'm cashing out my Paypal account. I've just let it linger there since I E-Bayed a few things a year ago. But no more! $38.08....come to Papa!!!

Lastly, there's that Economic Stimulus Payment on its way. $1500 for me (us). No more Kraft Mac & Cheese for us, baby! Its Dinty Moore beef stew time!!

I think its silly that the government is sending out rebate checks during a time of war and such a high federal deficit. But if you're wondering when you'll get your chunk, look below. Glad I "direct deposited" my refund. I'll see it May 9 (can you guess my ss #?). If I paper checked it I'd have to wait until June 27. Damn!

IRS Timetable for Rebate Payments

Here’s the government’s plan for making the economic stimulus payments for taxpayers whose 2007 returns are filed and processed by April 15:

DIRECT DEPOSIT PAYMENTS
If the last two digits of your Social Security number are:	Your rebate should be sent to your bank account by:
00 - 20	May 2
21 - 75	May 9
76 - 99	May 16
PAPER CHECK
If the last two digits of your Social Security number are:	Your check should be in the mail by:
00 - 09	May 16
10 - 18	May 23
19 - 25	May 30
26 - 38	June 6
39 - 51	June 13
52 - 63	June 20
64 - 75	June 27
76 - 87	July 4
88 - 99	July 11