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The economy, is it good or bad. by 84fiero123
Started on: 07-27-2007 10:05 AM
Replies: 1809 (21969 views)
Last post by: Back On Holiday on 11-22-2008 07:23 AM
Toddster
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Report this Post08-07-2007 06:16 PM Click Here to See the Profile for ToddsterSend a Private Message to ToddsterEdit/Delete MessageReply w/QuoteDirect Link to This Post
Awwwwwww, don't go away mad Bill. Just go away.

OKayyyyyyyy, where were the rest of us!?

Oh yes, mortgage rates and the impact on the stock market. With lenders tightening their belts due to housing problems they are also going to be less likely to lend money to business start-ups. This can be a good thing or bad. It has the effect of limiting competition which can cause price increases so if I had to pin my tail on a donkey it will be inflation. Yep, that big ugly word we haven't heard since 1979 is back! Profitability will be up but so will the price you pay for consumer goods so if I have any concerns about the economy it will be inflation driven by the housing market slump. Fortunatley, manufacturing should be able to keep pace.
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Report this Post08-07-2007 06:33 PM Click Here to See the Profile for 84BillClick Here to visit 84Bill's HomePageSend a Private Message to 84BillEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Turddster:
Rant rant rant Bill rant rant Snip:


Says the self proclaimed moderator of PFF
Get a life Klodd.

 
quote

OKayyyyyyyy, where were the rest of us!?

Oh yes, mortgage rates and the impact on the stock market. Snip:


The rest of us is going to hell in a handbag.... And oh yes Kloddster.. we know that already, thanks for redunency and reiterations. You should receive your gold star in aprox 3 to 5 business days.
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Report this Post08-07-2007 07:03 PM Click Here to See the Profile for Formula88Send a Private Message to Formula88Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Toddster:

Still talking..and still contributing nothing, eh Bill?

I appreciate how hard it is for you to comprehend THE ECONOMY as being something greater than that which impacts little ole Bill but:

Personal income - UP
Unemployment - DOWN
Stock market - UP
Interest Rates - DOWN
GDP - UP
Price of Purchases - DOWN

This is about as much as I can dumb it down Bill without the use of Muppets.



"Interest Rates - DOWN" - not since they bottomed out in 2004.

Source: http://www.moneycafe.com/library/prime.htm

"Price of Purchases - DOWN" - not according to the Consumer Price Index

Source: http://research.stlouisfed....red2/series/CPIAUCNS
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Report this Post08-07-2007 07:20 PM Click Here to See the Profile for fierobearSend a Private Message to fierobearEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Pyrthian:


outsourcing to another nation? how can anyone find this a good idea? unless they care more about themselves than about amercians....

outsourceing from a union shop to a non-union shop is one thing - the job stays done by an american.


No, I was talking about industries outsourceing to other countries. There are too many demands placed on industry in this country for high wages, and companies cannot compete. Globalization can be a biotch.

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Report this Post08-07-2007 07:38 PM Click Here to See the Profile for 84BillClick Here to visit 84Bill's HomePageSend a Private Message to 84BillEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by fierobear:


No, I was talking about industries outsourceing to other countries. There are too many demands placed on industry in this country for high wages, and companies cannot compete. Globalization can be a biotch.



And we need those "high wages" because we amerikans are taxed nearly to death by the gubment and our money has no real backing. We cant buy.. well we can buy on debt but WTF good is that if theres not enough money going around. Krist even Nazi Mart is feeling the pinch and they have the cheapes crap in town. Someone needs to rethink a few things... like not playing sandbox bully or if thats too harsh, you can substitute the previous with king of the sand dune.

"We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle." -- Winston Churchill

[This message has been edited by 84Bill (edited 08-07-2007).]

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Report this Post08-07-2007 07:54 PM Click Here to See the Profile for Old LarSend a Private Message to Old LarEdit/Delete MessageReply w/QuoteDirect Link to This Post
Taxes are high because the politicians have to have pork to spread around. Then there are people who feel they are entitled to benefits paid by some one else. If Hillary gets in expect higher taxes to spread her social agenda.
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Report this Post08-07-2007 08:10 PM Click Here to See the Profile for 84BillClick Here to visit 84Bill's HomePageSend a Private Message to 84BillEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Old Lar:
If Hillary gets in expect higher taxes to spread her social agenda.


Cool.. I'm ready to cast my vote.

[This message has been edited by 84Bill (edited 08-07-2007).]

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Report this Post08-07-2007 08:21 PM Click Here to See the Profile for 84BillClick Here to visit 84Bill's HomePageSend a Private Message to 84BillEdit/Delete MessageReply w/QuoteDirect Link to This Post

84Bill

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quote
Originally posted by Old Lar:

Then there are people who feel they are entitled to benefits paid by some one else.


Would that include the politicians, librarians, school teachers and my two most favoite Pigs and Jails and lets ot forget the sand castle project... Oh NASA fits in there too.
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84fiero123
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Report this Post08-07-2007 08:21 PM Click Here to See the Profile for 84fiero123Send a Private Message to 84fiero123Edit/Delete MessageReply w/QuoteDirect Link to This Post
There was a thing on Good Morning America today about how mortgage lenders are now filing bankruptcy to protect themselves from all the bad loans they put out to people Turdster sold homes to.

Well not just him but there are so many home loans going bad that the mortgage companies are seeking the protection of filing bankruptcy.

Why is this?

Because no one is making enough money to pay their home loans because of things like outsourcing. Or is there another reason for this?

------------------
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and one big pain in the ass when it doesn't.
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Report this Post08-07-2007 08:39 PM Click Here to See the Profile for ditchSend a Private Message to ditchEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 84fiero123:

There was a thing on Good Morning America today about how mortgage lenders are now filing bankruptcy to protect themselves from all the bad loans they put out to people Turdster sold homes to.

Well not just him but there are so many home loans going bad that the mortgage companies are seeking the protection of filing bankruptcy.

Why is this?

Because no one is making enough money to pay their home loans because of things like outsourcing. Or is there another reason for this?



You're talking sub-prime loans here. I hate outsourcing just like the next guy, but the fallout from subprime loans is not due to outsourcing. Interrest rates reset after a period of time and mortgage payments went up. That's not because of outsourcing, that's because of some bozo signing a contract without reading it completely. It's simple:

1) They had the opportunity to read the entire contract before they signed
2) They had the opportunity to consider whether they could afford the payments based on their income
3) They knew it was adjustable rate and the payment could go up dramatically

Don't get me wrong, I feel bad for people who are losing their homes. I think these places that give sub-prime loans to people they know can't afford them are complete scum. But, part of the blame lies with the dummy who signed the contract in the first place....the person who bought a house they should have known they couldn't afford. Outsourcing has nothing to do with it.

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Report this Post08-07-2007 09:30 PM Click Here to See the Profile for 84BillClick Here to visit 84Bill's HomePageSend a Private Message to 84BillEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by ditch:
Don't get me wrong, I feel bad for people who are losing their homes. I think these places that give sub-prime loans to people they know can't afford them are complete scum. But, part of the blame lies with the dummy who signed the contract in the first place....the person who bought a house they should have known they couldn't afford. Outsourcing has nothing to do with it.


Right.. we hold the people responsible for not reading the fine print instead of mandating that the scumbages who came up with this grand idea to state the obvious down side for an interest only mortgage. Not that they wouldnt push it anyway because the banks can get even more money by holding the house and renting it out AND still getting the bad people who defaulted on the loan to pay up.. Kinda a win win for the banks and Turddsters everywhere.

I know a friend of mine who is crying the blues about it now. Fortunatly he kept his puny 2400 square foot bungalow and now may have to take a major hit on the fire sale of his new estate... Fortunatly he hires guys with wet sneekers to do his labor really cheap so he can pocket the cash.

He laso has 250k motor home, new Ford Bronco and Jeep grand cherokee new boat and Piper Arrow. Poor guy...

[This message has been edited by 84Bill (edited 08-07-2007).]

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Report this Post08-07-2007 10:03 PM Click Here to See the Profile for ditchSend a Private Message to ditchEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 84Bill:

Right.. we hold the people responsible for not reading the fine print instead of mandating that the scumbages who came up with this grand idea to state the obvious down side for an interest only mortgage.



Absolutely. For most, the purchase of a home is the biggest investment of their lives. The least they could do is take the contract home and read it, consider the risk, and assume the worst case scenario.

I also believe the subprime loaners should be shut down because....unfortuantely....there are too many stupid, financially illiterate people in this country that will quickly sign up for something they can't afford....all because it looks good 'at a glance'. In this case, I believe we should save the dummies from themselves.
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Report this Post08-07-2007 10:33 PM Click Here to See the Profile for 84BillClick Here to visit 84Bill's HomePageSend a Private Message to 84BillEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by ditch:
I also believe the subprime loaners should be shut down because....unfortuantely....there are too many stupid, financially illiterate people in this country that will quickly sign up for something they can't afford....all because it looks good 'at a glance'. In this case, I believe we should save the dummies from themselves.



The problem with that is our legislature is more interested in malfaisance. Afterall who do you think attends the relection dinners at a few grand a plate, fund raisers and offers up those one day month full benefit consultant positions? Then there are the Turddsters who will whine and complain because it will leave one less way to sell an over priced POS so they can get their slimey hands on the commision check. They dont care if the person defaults on the loan.. they want the cash and go method to be as simple and non descript as possible.
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Report this Post08-07-2007 11:25 PM Click Here to See the Profile for PhrancSend a Private Message to PhrancEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 84Bill:
The problem with that is our legislature is more interested in malfaisance (huh?). Afterall who do you think attends the relection(huh?) dinners at a few grand a plate, fund raisers and offers up those one day month full benefit consultant positions? Then there are the Turddsters who will whine and complain because it will leave one less way to sell an over priced POS so they can get their slimey hands on the commision(huh?) check. They dont care if the person defaults on the loan.. they want the cash and go method to be as simple and non descript(huh?) as possible.
Speaking of people who will whine and complain bill what kind of loan can you get while or welfare? I hope no one takes anything you say about economics seriously. All you do whine about things you have failed at and blame others for it. You hate Toddster because you can't afford a house which is why you live at home with your mom.But then again you don't want people to be responsible for what they sign you want the government to take care of them like it takes care of you with your welfare. For some one who cries about the government where would you be with out it bill?

Economics: Another thing bill doesn't know what hes talking about.

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Report this Post08-07-2007 11:51 PM Click Here to See the Profile for 84fiero123Send a Private Message to 84fiero123Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by ditch:


You're talking sub-prime loans here. I hate outsourcing just like the next guy, but the fallout from subprime loans is not due to outsourcing. Interrest rates reset after a period of time and mortgage payments went up. That's not because of outsourcing, that's because of some bozo signing a contract without reading it completely. It's simple:

1) They had the opportunity to read the entire contract before they signed
2) They had the opportunity to consider whether they could afford the payments based on their income
3) They knew it was adjustable rate and the payment could go up dramatically

Don't get me wrong, I feel bad for people who are losing their homes. I think these places that give sub-prime loans to people they know can't afford them are complete scum. But, part of the blame lies with the dummy who signed the contract in the first place....the person who bought a house they should have known they couldn't afford. Outsourcing has nothing to do with it.


All I meant was that the people who buy these properties from people like the Turd who can get you into a house you can’t afford without some type of creative financing are having the problems because they are loosing their jobs to outsourcing.

Then they can't pay their over inflated mortgage payments.

But the Turd walks away telling them no worry in a year or two you can sell and make a profit, ya right, if anyone else besides people like the Turd can afford the price. He makes money whether they lose their home or not, he doesn’t care if you can make the payments down the road, or the housing market goes down the tubes, so long as he make his money.

------------------
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and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

[This message has been edited by 84fiero123 (edited 08-07-2007).]

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ditch
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Report this Post08-07-2007 11:59 PM Click Here to See the Profile for ditchSend a Private Message to ditchEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 84fiero123:
All I meant was that the people who buy these properties from people like the Turd who can get you into a house you can’t afford without some type of creative financing are having the problems because they are loosing their jobs to outsourcing.


This is the most rediculous statement I have heard in a long time.

That has NOTHING to do with outsourcing...PERIOD. It's because someone signed a contract to buy something they can't afford. I say they should read a contract before they sign. Is that too much to ask??? Their jobs aren't going away, their mortgage payment is going up. It's not rocket science.

Again, I HATE oursourcing, but it doesn't apply here.

 
quote
Originally posted by 84fiero123:
But the Turd walks away telling them no worry in a year or two you can sell and make a profit, ya right, if anyone else besides people like the Turd can afford the price.


 
quote
Originally posted by 84fiero123:
There was a thing on Good Morning America today about how mortgage lenders are now filing bankruptcy to protect themselves from all the bad loans they put out to people Turdster sold homes to.


Since there have been so many references to Toddster and his unfair practices, would anyone be willing to post something to prove that he is directly involved in the sub-prime mortgage issue???

I don't know the guy and have no reason to like/dislike him, but would love to see some facts. He has been referenced several times in this thread as part of the sub-prime problem.

I would hope there is some proof. Otherwise, I'll have to assume the people I'm talking to are making up facts and therefore....aren't worth listening to....which of course brings every statement they make into question

[This message has been edited by ditch (edited 08-08-2007).]

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84Bill
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Report this Post08-08-2007 12:04 AM Click Here to See the Profile for 84BillClick Here to visit 84Bill's HomePageSend a Private Message to 84BillEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Skanc:
Cry whine complain biotch whine stomp feet bill blaah blubber cry complain moan angry beaver oscar the grouch pissy mood biotch whine bill this that rant cry stomp feet back flips belly flops cries for daddy Snip:



Give it up Skanc. Whats the problem Skanc? Is the trashcan is getting empty Skanc. Do you want to add another thread to it Skanc..

I'll discuss the topic with you in the thread you jacked from 84fiero123 and had set to the can.. Dont bring your hate here and do it again.

I ENCOURAGE EVERYONE READING THIS THREAD TO RATE ACCORDINGLY
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Report this Post08-08-2007 12:13 AM Click Here to See the Profile for PhrancSend a Private Message to PhrancEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 84Bill:



Give it up Skanc. Whats the problem Skanc? Is the trashcan is getting empty Skanc. Do you want to add another thread to it Skanc..

I'll discuss the topic with you in the thread you jacked from 84fiero123 and had set to the can.. Dont bring your hate here and do it again.

I ENCOURAGE EVERYONE READING THIS THREAD TO RATE ACCORDINGLY


The problem is you don't have a clue what your talking about bill. I just pointed it out.

Speaking of rating accoringly does that mean you want them to rate you a negative for calling Toddster turdster and me skanc?
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Report this Post08-08-2007 12:16 AM Click Here to See the Profile for 84BillClick Here to visit 84Bill's HomePageSend a Private Message to 84BillEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by ditch:


Be patient with him.
He's stating that outsourcing is causing ONE person in the house to loose a job and that means the mortgage is defaulted on. I can see the connection he is making. Believe it on not there was a time where one person could make the mortgage payment and bills with ease but now the requirement is such that both must have full time jobs in order to make it. Financers are quick to hand a "taylor made high interest loan" to get them into a house even when the economy is heading south. The people are stu pod but the lender and their cohorts in crime the turds dont mind selling them down the river. At that point someone with some knowledge should step up and let these people know that the market isnt looking so hot.. here's a better deal.. But that would mean less commision and the sales person.. the turds would hear this sudden swishing noise.

He said the Turd.. was he refering to our beloved Toddster. Porveyor of truth, Justice and the Amerikan way? Could be but I know Todd would sell hot tamales to people in hell if he could make a buck doing so.

He's a commisioned sales person and "they" typically do use tactics which by law are are okay but the morality is questionable.

Like showing a property on a monday which is located under the approach of an airport runway and after the people plunk down 250k and sign off on that "charming" 2 bedroom shack with in ground cesspool. However they soon find out the first Saturday and Sunday after they moved in that pilots fly on the weekends.. its noisey... they need to close down that airport.

Get the sale take the money and only give the barest of facts about the place and it's location and the loans as possible. Sell Sell Sell..

[This message has been edited by 84Bill (edited 08-08-2007).]

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Report this Post08-08-2007 12:18 AM Click Here to See the Profile for 84BillClick Here to visit 84Bill's HomePageSend a Private Message to 84BillEdit/Delete MessageReply w/QuoteDirect Link to This Post

84Bill

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quote
Originally posted by Phranc:
The problem is you don't have a clue what your talking about bill. I just pointed it out.

Speaking of rating accoringly does that mean you want them to rate you a negative for calling Toddster turdster and me skanc?



Once again
I ENCOURAGE EVERYONE READING THIS THREAD TO RATE ACCORDINGLY
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Report this Post08-08-2007 12:18 AM Click Here to See the Profile for PhrancSend a Private Message to PhrancEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by ditch:
I would hope there is some proof. Otherwise, I'll have to assume the people I'm talking to are making up facts and therefore....aren't worth listening to....which of course brings every statement they make into question



Yeah thats about the gist of things. bill and 84fiero hate Toddster and will make fallacious claims against him. Just the fact they call him turd should tip off they are invested in smearing him even more.
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Report this Post08-08-2007 01:02 AM Click Here to See the Profile for 84BillClick Here to visit 84Bill's HomePageSend a Private Message to 84BillEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Phranc:
Cry rant complain. bill and 84fiero hate cry rant rant make fallacious claims cry. Just the fact cry turd should tip stomp feet off cry rant are invested in smearing hate cry rant blubber pop flip flop Snip: .


Yeah but he's my Turd and I like the guy so go get your own Turd to play with.
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Report this Post08-08-2007 01:04 AM Click Here to See the Profile for PhrancSend a Private Message to PhrancEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 84Bill:


Yeah but he's my Turd and I like the guy so go get your own Turd to play with.


But bill you are my turd. Well not mine mine as I crap piles smarter them you.
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Report this Post08-08-2007 01:10 AM Click Here to See the Profile for 84BillClick Here to visit 84Bill's HomePageSend a Private Message to 84BillEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Phranc:


But bill you are my turd. Well not mine mine as I crap piles smarter them you.


Yeah... I can see that... Yeah... Ya know Phranc? I wonder what Sigmond would say right about now. Hummm....
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Report this Post08-08-2007 01:12 AM Click Here to See the Profile for ditchSend a Private Message to ditchEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Phranc:


But bill you are my turd. Well not mine mine as I crap piles smarter them you.


ah yes, another statement from a brilliant mind....and the spelling/grammar is marvelous....you must be a $10+/hour worker

[This message has been edited by ditch (edited 08-08-2007).]

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Report this Post08-08-2007 02:37 AM Click Here to See the Profile for 84BillClick Here to visit 84Bill's HomePageSend a Private Message to 84BillEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by ditch:
ah yes, another statement from a brilliant mind....and the spelling/grammar is marvelous....you must be a $10+/hour worker


Well.. ya gotta give the 30+ year olds some slack. For example I mispelled Sigmund.. ::shruggs:: What can I say.. the mind is a terra.. teri..terro... it's bad okay?
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Report this Post08-08-2007 09:23 AM Click Here to See the Profile for PyrthianSend a Private Message to PyrthianEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 84Bill:
........
Believe it on not there was a time where one person could make the mortgage payment and bills with ease but now the requirement is such that both must have full time jobs in order to make it
..........


when was this?
if I remember them days - it was you had to save your money to have have a pretty hefty down payment before you would even be considered for a loan.

kinda made sure the person applying was actually serious & capable. most people cant even handle a credit card - so how they gonna handle a mortgage? and even worse - the bill consalidation loan, which rounds up all the unsecured credit cards & then ties them to the house. yes, the monthly payment goes down. but guess what? it now last the rest of your life, and if you screw up - you lose your house! as unsecured credit cards - you can basicly walk away. all that happens is you dont get any more credit cards. oh no.
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Report this Post08-08-2007 09:25 AM Click Here to See the Profile for PhrancSend a Private Message to PhrancEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by ditch:


ah yes, another statement from a brilliant mind....and the spelling/grammar is marvelous....you must be a $10+/hour worker



Considering nothing in what you quoted was misspelled whats your point? And I am a brilliant mind. Thank you. But please keep trying to make me look bad. You'll wind up like bill, a failure.


 
quote
Originally posted by 84Bill:


Well.. ya gotta give the 30+ year olds some slack. For example I mispelled Sigmund.. ::shruggs:: What can I say.. the mind is a terra.. teri..terro... it's bad okay?


bill you misspelled "mispelled". You misspell most of your words and half the time they aren't even the right words. Remember "waif". What is a waif bill? It has nothing to do with age bill you're just an idiot.
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aceman
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Report this Post08-08-2007 09:54 AM Click Here to See the Profile for acemanSend a Private Message to acemanEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 84Bill:


Believe it on not there was a time where one person could make the mortgage payment and bills with ease but now the requirement is such that both must have full time jobs in order to make it.


Well, thanks, Bill, I must be "living the dream". For the past 8 years my wife has been staying at home with the kids and I've been payng the mortgage all on my income. We've made it. There has been rough times, but we made it. Now to get this house in the Twin Cities sold (Not going to be easy) and then the payoff begins with buying a house in a smaller, lower cost of living, soft housing market. A pay raise for me in the spring and my wife going back to her old job.

It's not job outsourcing. It's call financial responsibility. Too many idiots went out there getting mortgages that they never could afford. Too many idiots in the lending business allowing the risk. I was approved for a loan of just over $110K 8 years ago. $110K didn't buy much around here 8 years ago. Paying a $1,000 /month mortgage wasn't easy, but with some responsibility, you learn to pay it every month. I've watched over the 8 years many people say they want to buy my house. Sorry, they couldn't afford my house.

I do feel the mortgage companies are 50% to blame in this mess. I don't feel sorry for those companies going belly up. I also don't feel sorry for someone losing their house because they weren't responsible enough to pay the mortgage. The overwhelming majority of these guys didn't lose their house to outsourcing. They lost their house to stupid financial moves and a lack of responsibility. Perhaps the truthful bottom line is......They weren't ready to be home owners to begin with.

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Pyrthian
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Report this Post08-08-2007 10:02 AM Click Here to See the Profile for PyrthianSend a Private Message to PyrthianEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by aceman:
.....good stuff....


I do feel the mortgage companies are 50% to blame in this mess. I don't feel sorry for those companies going belly up. I also don't feel sorry for someone losing their house because they weren't responsible enough to pay the mortgage. The overwhelming majority of these guys didn't lose their house to outsourcing. They lost their house to stupid financial moves and a lack of responsibility. Perhaps the truthful bottom line is......They weren't ready to be home owners to begin with.


Detroit is completely desolate due to outsourcing.
I myself was waiting for my daughter to finish High School - which she just did - and I am outta here.
I like Michigan - but - there be no work. if there be no work - there be no mortage being payed. so, how does outsourcing NOT cause this? how does lifting up foriegners over americans help?
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Formula88
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Report this Post08-08-2007 10:15 AM Click Here to See the Profile for Formula88Send a Private Message to Formula88Edit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Pyrthian:


Detroit is completely desolate due to outsourcing.
I myself was waiting for my daughter to finish High School - which she just did - and I am outta here.
I like Michigan - but - there be no work. if there be no work - there be no mortage being payed. so, how does outsourcing NOT cause this? how does lifting up foriegners over americans help?


Outsourcing is a symptom - not a cause. You have to ask yourself WHY there's so much outsourcing.
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Pyrthian
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Report this Post08-08-2007 10:21 AM Click Here to See the Profile for PyrthianSend a Private Message to PyrthianEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Formula88:
Outsourcing is a symptom - not a cause. You have to ask yourself WHY there's so much outsourcing.


because they have no EPA, disability or child labor laws
yes, terrible ideas, eh?

[This message has been edited by Pyrthian (edited 08-08-2007).]

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Red88FF
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Report this Post08-08-2007 11:03 AM Click Here to See the Profile for Red88FFSend a Private Message to Red88FFEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Pyrthian:


because they have no EPA, disability or child labor laws
yes, terrible ideas, eh?



Was just reading a leading news story this morn about lead paint and children's toys made in China,,,,,nice. People need to wake up.

Housing is starting to look like a chain letter scam. If/when the gov. cracks down on lending laws there will be a correction, oh but don't hold your breath to much money in taxes for the SOB"s brought in by excessive pricing. That is why they are going to allow these 40 and 50 year loans. Being as we already own most of our home I hope the we get to sell why the market is high though. On the other hand since we have been responsible and not taken ANY equity out of the home even a 50% drop would not change our lives much other than theoretical choices for retirement and the kids inheritance
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Report this Post08-08-2007 11:24 AM Click Here to See the Profile for fierobearSend a Private Message to fierobearEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Pyrthian:


because they have no EPA, disability or child labor laws
yes, terrible ideas, eh?



You forgot one very important factor, one that may be tough to face. I mentioned it already.

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texasfiero
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Report this Post08-08-2007 11:29 AM Click Here to See the Profile for texasfieroSend a Private Message to texasfieroEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Pyrthian:


Detroit is completely desolate due to outsourcing. SNIP


 
quote
Originally posted by Pyrthian:


because they have no EPA, disability or child labor laws
yes, terrible ideas, eh?



or union contracts with their "negotiations"?
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Toddster
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Report this Post08-08-2007 11:39 AM Click Here to See the Profile for ToddsterSend a Private Message to ToddsterEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by Formula88:


"Interest Rates - DOWN" - not since they bottomed out in 2004.

Source: http://www.moneycafe.com/library/prime.htm

"Price of Purchases - DOWN" - not according to the Consumer Price Index


Source: http://research.stlouisfed....red2/series/CPIAUCNS



You're right on both counts but interest rates change from minute to minute. I could argue that they are up or down if I am willing to be flexible on my time frames. My point was that, on the whole, interest rates are at or near all time lows even if they have ticked up slightly over the past year.

As for Prices, you need to take inflation into consideration. As an example, gasoline was only .30/gallon in 1918 but as a percentage of income it is actually cheaper today than it was back then.

As for this thread, I congratulate the usual suspects and their profanity laiden posts for turning a terrific thread about an interesting subject into trash can fodder...AGAIN!

I'm outta here before Cliff round files it.
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Pyrthian
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Report this Post08-08-2007 11:44 AM Click Here to See the Profile for PyrthianSend a Private Message to PyrthianEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by fierobear:
You forgot one very important factor, one that may be tough to face. I mentioned it already.


oh no, I dont dispute the wage difference one bit. but, if everythign else was equal - the cost of shipping would cover the wage difference.

the cost of manufacturing is WAAAAY cheaper when you dont have to protect the workers or the environment. if Kwi-Chang gets his hand squashed by an unmaintained machine - big deal. throw him out for being stupid, and get Kwa-Ching to run it. when his hand gets squashed - next - until the machine finally fails due to to much bone & blood build-up. yes - over the top. when the machines need new fluids, just open them up, let the fluids drain into the dirt, and re-fill.

and dont think businesses wont do this. our businesses would if they could - and in the past - they have. we should NOT be forced to compete against those who do. we have standards, and everything sold in the USA should also be made to adhere to those standards.
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Toddster
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Report this Post08-08-2007 11:54 AM Click Here to See the Profile for ToddsterSend a Private Message to ToddsterEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 84fiero123:

There was a thing on Good Morning America today about how mortgage lenders are now filing bankruptcy to protect themselves from all the bad loans they put out to people Turdster sold homes to.



Just so no body is confused about this point, I am NOT a mortgage broker. I don't sell loans. And none of the people I have ever sold a house to has gone into foreclosure...not one.

Continue your slander fest troll boy.
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madcurl
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Report this Post08-08-2007 12:41 PM Click Here to See the Profile for madcurlSend a Private Message to madcurlEdit/Delete MessageReply w/QuoteDirect Link to This Post
I agree with others about sub-prime loan individuals loosing their homes; they were in over their heads and sub prime loan start-up businesses where motivated by greed. As for the sub prime loan businesses filing bankruptcy (I'm not feeling sorry for them either); theirs a sucker born everyday and a company willing to take advantage of an opportunity.

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Report this Post08-08-2007 03:50 PM Click Here to See the Profile for Formula88Send a Private Message to Formula88Edit/Delete MessageReply w/QuoteDirect Link to This Post
People with sub-prime mortgages are today's version of the stock speculators buying on the margin in the late '20's. The prices just kept going up and up, so they didn't have to be able to afford it - just get the credit and flip it for a huge profit after a while.

Except when the bubble burst. In '29 they couldn't make the margin calls and many people were bankrupt over night.
Today it's the ARM adjustment and mortgage payments. They can't make the payment and can't sell the house for enough to pay off the mortgage.

Luckily we work on enough credit today that it softens many financial blows. But it remains to be seen just how widespread the mortgage fallout will be. There's going to be a lot of people who made stupid choices and bought way more house than they can afford lose everything, along with the mortgage companies that financed them. I doubt it's going to devastate our economy, but it will have an impact.
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