by Jack » Fri 17 Aug 2007, 18:03:57
$this->bbcode_second_pass_quote('', 's')chadenfreude \SHOD-n-froy-duh\, noun:
A malicious satisfaction obtained from the misfortunes of others.
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Lately, we're hearing a lot about the stock market meltdown - but at least part of the underlying problem seems to be various parts of the mortgage market (e.g., subPrime, 2/28, Alt-A, ARM, CDOs, and so forth).
If this isn't resolved, the next thing we're likely to see are large numbers of first-time home buyers tossed out of the houses they thought they would own. We will see their images of their possessions stacked on the curb as the houses are seized. Children will cling to parents. Tears will drip slowly down cheeks. Sullen rage will glow in eyes.
Perhaps a rain storm will come along, soaking the mound of things as the newly dispossessed pick though the things, salvaging what they can. And then they will depart...to live with some relative somewhere, or within a crowded, stinking slum, or perhaps to reside in their SUV.
New lending standards will preclude them ever purchasing another house. Their dream of home ownership will die. And with that dream, hope itself will sicken and likewise decease.
But the thing is - you and I, good reader, along with other intelligent people won't have this problem. We avoided the debt problem. We get to watch, perhaps enjoy a bit of refreshment, and smirk at the images.
And...to tell you the truth...I'm loving it. It's fun. Classic schadenfreude.
So, how about you? Are you enjoying it too? You can even stay completely anonymous, since this is a poll!