Comments on: R=MC2 Economic Recovery and the Misunderstood U.S. Consumer Conundrum http://www.billdahl.net/articles/rmc2-recovery-and-the-misunderstood-u-s-consumer-conundrum/ "How might words open hearts? May you find them refreshing and share them among your people." Thu, 09 Feb 2012 23:41:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Big Mac http://www.billdahl.net/articles/rmc2-recovery-and-the-misunderstood-u-s-consumer-conundrum/comment-page-1/#comment-10651 Big Mac Thu, 24 Sep 2009 18:42:34 +0000 http://www.billdahl.net/?p=1689#comment-10651 Bill, You ask: How we are doing? How about this? On the financial side, it is truly ugly and I am a poster child for your very thoughtful analysis of the American consumer. (With the exception that my money has not gone for toys or high living - it has gone into business investment.) I absolutely agree that the US is not going to, as in the past, recover once again without some big time pain. Where is the real need? It is jobs and how do you create new jobs with the Chinese supplying everything forever? I tell my friends to just expect a reduction in the standard of living. OK, how about 1 car per family. How about 1 bathroom in your rented house? How about less of everything that we now enjoy. One example: I owe National City Bank $367,000 on a second mortgage on my house. After 10 months of buying groceries and paying health insurance instead of paying on this mortgage, National City calls me and says: “We will give you ZERO INTEREST for the life of this loan and lower the monthly payment by 50 percent!” I said thank you but I would also like a 75 percent reduction of principal. Otherwise you can pay off the first and probably drop another $500,000 when you sell the house. Am I proud or ashamed of this black hole I have dug. No, as I have gone forward - believing in the past as predictor of the future as your analysis implies. I used money to invest in businesses I thought would pay off big. None of them have failed but they are directly linked to the overall economy and are, therefore, struggling. My goal is to weather the storm – by whatever Guerrilla tactics I can muster. We will see. I have had 5 friends in the last year lose their spouses..... So what could I possibly complain about? It is true that if you have your health - you have everything. All the best to you. Keep the analysis coming. You are on the mark. Best, Big Mac Bill,
You ask: How we are doing? How about this?
On the financial side, it is truly ugly and I am a poster child for your very thoughtful analysis of the American consumer. (With the exception that my money has not gone for toys or high living – it has gone into business investment.)

I absolutely agree that the US is not going to, as in the past, recover once again without some big time pain. Where is the real need? It is jobs and how do you create new jobs with the Chinese supplying everything forever? I tell my friends to just expect a reduction in the standard of living. OK, how about 1 car per family. How about 1 bathroom in your rented house? How about less of everything that we now enjoy.

One example: I owe National City Bank $367,000 on a second mortgage on my house. After 10 months of buying groceries and paying health insurance instead of paying on this mortgage, National City calls me and says: “We will give you ZERO INTEREST for the life of this loan and lower the monthly payment by 50 percent!” I said thank you but I would also like a 75 percent reduction of principal. Otherwise you can pay off the first and probably drop another $500,000 when you sell the house.

Am I proud or ashamed of this black hole I have dug. No, as I have gone forward – believing in the past as predictor of the future as your analysis implies. I used money to invest in businesses I thought would pay off big. None of them have failed but they are directly linked to the overall economy and are, therefore, struggling. My goal is to weather the storm – by whatever Guerrilla tactics I can muster. We will see.

I have had 5 friends in the last year lose their spouses….. So what could I possibly complain about? It is true that if you have your health – you have everything.

All the best to you. Keep the analysis coming. You are on the mark.
Best, Big Mac

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