a lot of questionable moves by the govt to stimulate the economy IMO

[BlahBlahYouToo]

doesn't it seem like what the govt is doing to fix the economy now is what led to its collapse in the first place?

encouraging banks to make loans (hope they are checking the qualifications of the applicants) - isn't that what lead to this mess? easy credit making it too easy to get a loan.

providing benefits such as a tax credit of $8k for first time home buyers - trying to prop up property values by flooding the market with buyers, when homes are still overpriced from the bubble (speaking locally for the NorthEast).

giving handouts to those who can't keep up with mortgage payments. great, lets encourage more irresponsible spending by bailing those who overextended themselves.

basically it seems like they are trying to spend their way out of this mess which is how we got into it originally.
what happened to letting the market correct itself?

---

Moved from OT.

Harvey
Senior AT Mod

 

[amdskip]

If we all share everything, everyone wins!

BTW, should this be in politics and news?

 

[Insomniator]

I trust our parents in office to know what to do with our money. You give your children an allowance right?

 

[BlahBlahYouToo]

Originally posted by: Capt Caveman
Wrong forum

And so many of your points are full of ignorance.

You do know that the lending standards/qualifications are much more difficult now, so no it's not the same as what caused this mess.

why of course i do.
when i applied for the mortgage for my 2nd property, it was much more thorough than when i got my first mortgage 2 years before.
same then when i applied to refinance last month on both mortgages.

but thx for the kind words.

 

[Capt Caveman]

Originally posted by: BlahBlahYouToo

Originally posted by: Capt Caveman
Wrong forum

And so many of your points are full of ignorance.

You do know that the lending standards/qualifications are much more difficult now, so no it's not the same as what caused this mess.

why of course i do.
when i applied for the mortgage for my 2nd property, it was much more thorough than when i got my first mortgage 2 years before.
same then when i applied to refinance last month on both mortgages.

but thx for the kind words.

Then why make this point in your OP - 'encouraging banks to make loans (hope they are checking the qualifications of the applicants) - isn't that what lead to this mess? easy credit making it too easy to get a loan. '?

 

[BlahBlahYouToo]

Originally posted by: Capt Caveman

Originally posted by: BlahBlahYouToo

Originally posted by: Capt Caveman
Wrong forum

And so many of your points are full of ignorance.

You do know that the lending standards/qualifications are much more difficult now, so no it's not the same as what caused this mess.

why of course i do.
when i applied for the mortgage for my 2nd property, it was much more thorough than when i got my first mortgage 2 years before.
same then when i applied to refinance last month on both mortgages.

but thx for the kind words.

Then why make this point in your OP - 'encouraging banks to make loans (hope they are checking the qualifications of the applicants) - isn't that what lead to this mess? easy credit making it too easy to get a loan. '?

because it's not the job of the govt to tell a private institution what to do.

 

[Miramonti]

The governments stimulus plan is an investment in the economy, an investment that could potentially yield 8% annualized returns on its donations over the next 3 years.

 

[SacrosanctFiend]

Originally posted by: BlahBlahYouToo

Originally posted by: Capt Caveman

Originally posted by: BlahBlahYouToo

Originally posted by: Capt Caveman
Wrong forum

And so many of your points are full of ignorance.

You do know that the lending standards/qualifications are much more difficult now, so no it's not the same as what caused this mess.

why of course i do.
when i applied for the mortgage for my 2nd property, it was much more thorough than when i got my first mortgage 2 years before.
same then when i applied to refinance last month on both mortgages.

but thx for the kind words.

Then why make this point in your OP - 'encouraging banks to make loans (hope they are checking the qualifications of the applicants) - isn't that what lead to this mess? easy credit making it too easy to get a loan. '?

because it's not the job of the govt to tell a private institution what to do.

That doesn't answer the question...

 

[alkemyst]

wrong forum for this, but the jist of it is:

1) the people assume you can get a do-over and/or make the team 100% of the time.
a) if not they will demand financial restitution.

2) the people want the government to protect them
a) they don't plan on having to follow the same rules though.


They will vote accordingly.

 

[Beanie46]

Originally posted by: BlahBlahYouToo

because it's not the job of the govt to tell a private institution what to do.

Quick, then, tell the airlines, the drug companies, the food producers that they no longer have to pay attention to what the FAA, FTC, FDA, and the rest of the industry regulatory boards the government runs.

Seriously, do you even think before you type?

 

[mshan]

From what I've read and seen on tv, we would probably now be in some sort of depression, if not for government life support now stabilizing system.

We were in free fall last fall (ceos were saying they had absolutely no vision or radar as to what was going to happen going forward), and the lack of confidence that all of that stock market wealth destruction created was snowballing uncontrollably downwards as consumers just basically stopped spending (commentators say economy just fell off a cliff then).

With all of their interventions, and stock market stop going down and recovering somewhat, at least some confidence has returned to consumers and businesses do seem to have some idea of conditions going forward.

Plus, I think very little of the stimulus money has been spent yet, and I think most is scheduled to kick in next year. I think politics are definitely involved, but I think basic decision was to lessen suffering and severity of recession / depression through stimulus spending, because definitively fixing problem (good bank, bad bank, with government probably way overpaying for toxic assets that they now let institutions just forbear on would be too hard in practice to execute and way to expensive too boot).

This guy has an excellent online column that is free to read, usually either Friday afternoon or Saturday sometime: http://www.inman.com/buyers-se.../columnists/lou-barnes

 

[BlahBlahYouToo]

Originally posted by: mshan
From what I've read and seen on tv, we would probably now be in some sort of depression, if not for government life support now stabilizing system.

We were in free fall last fall (ceos were saying they had absolutely no vision or radar as to what was going to happen going forward), and the lack of confidence that all of that stock market wealth destruction created was snowballing uncontrollably downwards.

With all of their interventions, and stock market stop going down and recovering somewhat, at least some confidence has returned to consumers and businesses do seem to have some idea of conditions going forward.

Plus, I think very little of the stimulus money has been spent yet, and I think most is scheduled to kick in next year. I think politics are definitely involved, but I think basic decision was to lessen suffering and severity of recession / depression through stimulus spending, because definitively fixing problem (good bank, bad bank, with government probably way overbearing for toxic assets that they now let institutions just forbear one would be too hard in practice to execute and way to expensive too boot).

This guy has an excellent online column that is free to read, using either Friday afternoon or Saturday sometime: http://www.inman.com/buyers-se.../columnists/lou-barnes

thx.

 

[Queasy]

Originally posted by: mshan
Plus, I think very little of the stimulus money has been spent yet, and I think most is scheduled to kick in next year.

Very little is correct. Only a few billion has been spent and alot of it is going to projects of dubious merit. The "stimulus" was nothing more than a collection of Democrat wish-lists cobbled together under the guise of saving the economy. We would have been better off it had never been spent. Throw in the budget clusterfark along with the government wanting to control the energy industry through Cap and Trade and the trillions that we don't have that will be spent on health care reform and the problem with the economy is not the financial institutions but the government itself.

 

[buck]

Wrong forum.

 

[Barfo]

P&N

<---

 

[MotF Bane]

<---------------------------- Cesspool

 

[nerp]

Originally posted by: BlahBlahYouToo
doesn't it seem like what the govt is doing to fix the economy now is what led to its collapse in the first place?

encouraging banks to make loans (hope they are checking the qualifications of the applicants) - isn't that what lead to this mess? easy credit making it too easy to get a loan.

providing benefits such as a tax credit of $8k for first time home buyers - trying to prop up property values by flooding the market with buyers, when homes are still overpriced from the bubble (speaking locally for the NorthEast).

giving handouts to those who can't keep up with mortgage payments. great, lets encourage more irresponsible spending by bailing those who overextended themselves.

basically it seems like they are trying to spend their way out of this mess which is how we got into it originally.
what happened to letting the market correct itself?

omg u r godlike in finance, fuck warren buffet i'm doing what you're doing!

 

[nakedfrog]

For love of pasta, get this thread into the right forum!

 

[Slew Foot]

Trying to reinflate bubbles only leads to inflation.

 

[SunnyD]

Originally posted by: MotF Bane
<---------------------------- Cesspool

You're pointing to your own username.

 

[mesthead21]

Originally posted by: SunnyD

You're pointing to your own username.

and now its pointed at you!

 

[JDub02]

<---------------- and coming up on the waaaaaaaaaaaaaay left is P&N



the government is doing what any responsible person does when they're deep in debt ... borrow more money and spend it on worthless stuff. wonder who's going to bail us out after china refuses to buy any more debt.

 

[Slew Foot]

Originally posted by: BlahBlahYouToo

Originally posted by: mshan
From what I've read and seen on tv, we would probably now be in some sort of depression, if not for government life support now stabilizing system.

We were in free fall last fall (ceos were saying they had absolutely no vision or radar as to what was going to happen going forward), and the lack of confidence that all of that stock market wealth destruction created was snowballing uncontrollably downwards.

With all of their interventions, and stock market stop going down and recovering somewhat, at least some confidence has returned to consumers and businesses do seem to have some idea of conditions going forward.

Plus, I think very little of the stimulus money has been spent yet, and I think most is scheduled to kick in next year. I think politics are definitely involved, but I think basic decision was to lessen suffering and severity of recession / depression through stimulus spending, because definitively fixing problem (good bank, bad bank, with government probably way overbearing for toxic assets that they now let institutions just forbear one would be too hard in practice to execute and way to expensive too boot).

This guy has an excellent online column that is free to read, using either Friday afternoon or Saturday sometime: http://www.inman.com/buyers-se.../columnists/lou-barnes

thx.

If most of the stimulus hasnt been spent yet then how much govt life support is there? You mean this thing largely fixed itself?

 

[mshan]

I think that government life support was more in terms of creating liquidity in credit and mortgage markets (?), filling in void temporarily because private investors were no longer willing to create those market themselves.

 

[RyanPaulShaffer]

Maybe the OP posted it here to actually have a reasonable discussion instead of the usual...uh..."stuff" that goes on in the P&N forum?

As for the stimulus, yes, there has been very little of merit to come from it. Huge debts and no/little economy recovery, yet billions and trillions of dollars down the drain. Just a bunch of Democrat pet projects that they could ram through since they have total control right now.

America is drowning in trillions of dollars of debt, in danger of losing it's top credit status, losing it's status as the reserve currency, etc...and why? All because of the monster deficit spending enacted after January 20, 2009. China and Russia, for example, specifically cite the deficit as the major reason why they are leery to buy US bonds and why they support moving the reserve currency from the dollar.

They didn't say this while Bush was in office, nor did we have nearly the level of debt under Bush as we do now...

Not that Bush was a fiscal conservative by any means, but dang...our current president is sure making Bush look like a spendthrift.