I just read this article.
I'm not sure what I think. I don't really know enough to say anything intelligent, but here are some unintelligent things:
All that needed to be done was to keep buying and selling each other’s houses with money borrowed from the Chinese.
This is what I've been doing, on a very, very microscopic level, for several years already, and I'm only 26. I've paid off US Bank with US Bank's money and Bank of America with Discover's money, and Discover with money borrowed from the feds. Can I keep doing it? Who wants to bet? I'm thinking of making a balance transfer right now. They will charge me 4%. What do I care? I'll be dead. I can make credit card payments with a different credit card or something.
My grandma died and left me money. Let's vote on what I should do with it:
If we, as "subprime borrowers," keep borrowing and are never able to pay it back, how long will it take for "the system" to collapse? If I get like 10 more credit cards and run them up and start a cult where every person does the same thing and then we all kill ourselves so that creditors have to eat the debt will Wall Street implode? Because if it would, I would do that. Also, we would have to buy things that we could destroy so as to leave no assets for the creditors. Would that change things in the world? Because I'd do it.
Who wants to join my cult? Here are some benefits:
1) Get to watch a lot of big screen TVs at once, with surround sound, on leather couches. DVDs, CDs, Fender Stratocasters.
2) Meals catered by anyone you want (provided they accept VISA).
3) Expensive things.
5) Gold staplers/staples (you think you don't want them, but once you have them you will not be able to remember how you lived before you had them).
6) You could probably manage to get laid if you were having trouble with that to start with, because people will think you are rich, and people like to have sex with rich people.
7) Nearly endless less expensive things like coffee mugs, candy, pens, cell phones, etc.
8) Get to smash everything above that is not eaten with big ass hammers.
9) Maybe there will be an awesome Koreshian shoot-out at the end. But we probably shouldn't kill anyone other than ourselves. We want to be remembered as the heroes that brought about the collapse of "the system."
Here are some drawbacks:
1) You will probably be seen as crazy because you are in a cult.
1.a) This might actually hurt your chances of getting laid if you are already having trouble with that, but if you are not having trouble with it, you can probably continue to get laid.
2) You have to kill yourself (but we'll wait at least 5 years or something like that, so you can enjoy yourself and say that you lived a good life).
That sounds pretty good to me. We're going to have to buy a shitload and an assload of shit though.