StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
You are a perfect example of the kind of person I'm talking about. Still able to buy a home, and smart enough to buy it based on a single person's employment. You have savings, too. I think people have been allowed by the market to buy homes too early and too big. I bet our parents were not buying four bedroom homes when they were 25, were they?
You are cost neutral in this position.
You have a $100,000 mortgage and a $50,000 house. You kick the person out of the house you lose out on mortgage payments on a $50K mortgage *AND* you have to pay for maintenance, HOA, and taxes. You keep them in the house and you get all of that paid for.
What is the fucking difference? Get over your neantrathalic "ME GRIMLOCK ME SMASH" silliness and think for a change.
sandorski
No Lifer
- Oct 10, 1999
- 70,862
- 6,396
- 126
It seems many are still confused by what's going on. These are not Ordinary Times with Agneda laden Politicians thrown in looking to revolutionize the Market. This is a Market Meltdown the likes of which hasn't been seen in Generations and one in which we have yet to hit Bottom.
The #'s Obama is throwing out don't add up. He is either a liar, or he is stupid. $75billion/9 million people = $8333.33 per person bailed out. How many people who are upside down on their mortgages are only $8k upside down? These #'s are complete shit, and Obama is either LYING about the amount it will cost, or the # of people it will help. Or he is just too stupid to do the math on this.
This is another BS bill by the democrats which isn't going to help but yet makes all the morons of the world cheer that Obama is 'doing something' to help the little man. Of course, he then went on to say we need to stop living beyond our means. WHY? Obama will just bail you out... and if its good for PEOPLE to stop living beyond their means, its good for government as well..
This plan is BULLSHIT and is another LIE by this TRAITOR of a President (Oops, sorry, Harvey macro must have slipped in there)
This is another BS bill by the democrats which isn't going to help but yet makes all the morons of the world cheer that Obama is 'doing something' to help the little man. Of course, he then went on to say we need to stop living beyond our means. WHY? Obama will just bail you out... and if its good for PEOPLE to stop living beyond their means, its good for government as well..
This plan is BULLSHIT and is another LIE by this TRAITOR of a President (Oops, sorry, Harvey macro must have slipped in there)
If it's so beneficial for the banks to keep these people in their homes, then why do they need my tax dollars as an incentive?
Slew Foot
Lifer
- Sep 22, 2005
- 12,379
- 96
- 86
Seriously, Im willing to bet after the cram down to "TMV" youll see a bunch of people toss the homes up for sale to get out of the alligator, the sudden supply will drop prices futher, and then well have to cram down again in a year or so.
The banks will get pissed at losing so much money that theyll jack interest rates up, and the regular renter joe will get hosed on both end by higher taxes and interest rates.
The banks will get pissed at losing so much money that theyll jack interest rates up, and the regular renter joe will get hosed on both end by higher taxes and interest rates.
This is a statement by a D and will likely get passed on party lines by the D's with the R's in opposition, just like the "stimulus" bill. That's the great part about being a life-long independent: I get to make fun of all the idiots rather than just half of them.
Good for you. While you are content with being a cynical skeptic trying to say , "I told you so!" as much as humanly possible, the rest of us will do our best to objectively discuss and work towards solutions to the problems. Enjoy your ride on our wagon.
Sheik Yerbouti
Lifer
- Feb 16, 2005
- 14,080
- 5,453
- 136
Is it just the banks who'll get hurt? Who holds all of the ABS bonds? 401ks, mutual funds, pensions...etc. Furthermore, if it were just the banks, helping with the interest lowers interest rates overall.
I have already solved the problem by not spending beyond my means, living conservatively, and working my ass off to make sure I'll always have a job. Now, as a reward for my hard work and prudence, I'll be funding your trip on the short bus with my tax dollars.
And McCain made a statement about buying bad mortgage debt during his presidential campaign. Last I checked he was still an (R). FWIW, my brother is an (I) converted from (R) and I'll tell him the same thing I tell you. If your awesome party has all the answers they would be in power by now. They're not. Maybe there's a reason?
I don't have a party. I do have all the answers. Unfortunately, all of the knuckle draggers who get to vote are already affiliated with one of the parties, neither of which has any answers (well, maybe a few bad answers, but mostly just no answers). Political parties are the problem, not the solution, but I don't want to go into that in this thread.
This is what you get when you put socialists in office: punishment of those who are responsible and make good decisions in favor of redistributing the wealth to those who make bad decisions.
Oh God, so many problems with this.
I have some thought exercises for you:
1) Define Socialism.
2) List all the Socialist politicians elected last cycle.
3) Explain how the politicians on this list are Socialists. Presumably, this explanation will involve how the politicians feel about Capitalist means of production, class structure, the evolution of Capitalism into Socialism, state ownership of industry, farming collectives, etc, etc.
After you can do these things, I will take your statement seriously. Until then, quit throwing around the term Socialist in an attempt to generate a rise out of people.
The whole collapse and bailout has nothing to do with Capitalism, Socialism, Interventionalism, Isolationalism, Libertarianism, Republicanism, Democratism, Communism, or any plethora of other -ism's. The only -ism that comes close to describing the situation is Cronyism. It's a massive wealth grab by those in power sponsored by those politicians they got elected. If the banks weren't hurting right now, no one would give a flying f#@k about the situation. Now, they only have to pretend to care due to the already massive bailouts given to the elite. Proof? They are throwing G$75 at a problem which is measured in the trillions. I don't agree with helping anyone that made very irresponsible decisions in the name of greed, but let's be honest about what this foreclosure prevention act really is: table scraps. An attempt to appease a large group of people about to be thrown into the streets, or at least make the rest of us think the government really cares about the poor/middle-class (even if many of these people don't deserve their care). The turkey has already been consumed by those powerful enough not to care about the distinction between Republican and Democrat; Capitalist or Socialist.
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