Monday, July 30, 2007

Sucking at the Teat of the Nanny State

You know why the 4" high, stack-heeled black leather pumps currently residing in my closet, where they are patiently waiting for Fall 2007 and yet another year of fun-colored textured hosiery, were made by Antonio Melani and hence retail for $89, and are NOT the $700 Christian Louboutin black patent leather Very Prive Pumps over which I have been lusting for ages?

Because I cannot afford the Christian Louboutins.

Of course, I want them. In the worst, worst way. And I could indulge that lust and put them on a credit card and take 1.5 bazillion years to pay them off at 25 bazillion percent interest.

Sure. I could.

But I won't. Because that would be fiscally irresponsible. After all, lusting after something and wishing you possessed it, does not equal the right to have it.

So why are we bailing out the idiots who took that same pie-in-the-sky privileged attitude with their homes?

This, Party People, is unacceptable.

And we're going to pay until the cows come home.

Which will be never.


the Dread Pirate Rackham said...

...but you simply cannot wear Christian Leboutin heels to run up the trail, peeptoe or no.

I thank my husband often for the wisdom in not switching to an interest-only loan on our home. I was the one who argued for the 30-yr fixed, but I'm so glad we still have that.

moi said...

Oh, but you know, if Christian Louboutin made a $700 running shoe that would bump up my time by a minute or two per mile, you can betcha I'd credit card that puppy big time!

Yes, we discovered as well, when it comes to mortgages: 30 Year Fixed rocks.

Orangeblossoms said...

It's all so messy, isn't it? I think that people were less than informed of the true ramifications of these variable rate loans..... I also think that the industry preyed specificially on less informed, less educated, less equipped people..... all messy.

Meghan said...

I agree... it's totally unacceptable. I'd rather not pay for someone else's ignorance, thank you. I researched my butt off when it came to buying and loans, and (though I would have liked to buy that 700K designer leather pump of a house, believe you me) I went with something we could put a larger % down on with a 30-yr-fixed.

If we bail these "poor" homeowners out, does that mean I'll be let off the next time I say, "but officer, the tree was blocking that stop sign!"

What. Ever.

moi said...

Yes, there was most certainly some predatory lending going on and the situation is most certainly complicated. But I like to bottom line things. Bottom line: personal responsibility. You get to the point where you've worked hard enough to buy a home, you're going to do your homework. Or, you're going to be seduced by the promise of a lifestyle beyond your means OR a promise of getting rich quick.

Either way, you are ultimately responsible for your actions.

Prior to the mid 1990s, real estate was what you purchased to house yourself and your family. It wasn't a speculative commodity. People didn't sign up for ridiculously-termed loans allowing them to buy ridiculously-overpriced homes that their guts told them they couldn't afford, betting that long before the balloon payment came due or the ARM was adjusted upward into the stratosphere, they'd be able to sell said home for $50,000 - $100,000 more than they paid for it.

Our government saw this coming and did nothing. Why? Because all that "money" makes such a succulent sound. And seduces the nation into thinking our economy is strong. When it's really built on nothing so much as air.

the Dread Pirate Rackham said...

at least you can spell Louboutin. I, apparently, cannot - even when it is already spelled for me.

Wicked Thistle said...

(insert a deep, resigned sigh...)
right on, sister...i just want my tax dollars back. all of 'em.

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