Sunday, November 9, 2008

Precedent O'Bama, Wedding Bombs, and Other Good News (Fred Reed)

Fred Reed has some more random thoughts on the stupidity in this country:

I’m going to slit my wrists. I’ve been reading the news again. I always want to slit my wrists when I do that. I know, I know: I’ll get encouragement from readers. OK, then, I won’t, just to spite them. Ha.

One story says that Americans owe some bizarre sum on the credit card and god knows how much on the McMansion and on the five-hundred horsepower riding mower with a mini-combne, backhoe attachment, and satellite GPS for mowing the half acre. I think I’m supposed to feel sorry for them. Actually I think they are a persuasive argument for eugenics.

I don’t get it. What is wrong with these idiots? Debt is easy to avoid. Herewith some blinding wisdom: If you can’t pay for it, don’t buy it. You saw it here first, a percipient contribution to economic theory. Works like a charm, too. Or how about this? Don’t buy more house than you can live in. Move over, Keynes, Ricardo, here I come.

Another story is about how banks are all unhappy because they’ve got bad loans. A probing question if I may (characteristic of this column): Who made the bad loans? Permit me another searing insight. If you lend money to people who can’t pay it back, they won’t. I know, I know, a difficult concept. Not something a Wall Street banker would know.

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