It took us going to war in 1941 after 1929 crash to really get moving. with tons of psending on public works projects in th emix too.
Did anyone REALLY think we would get out of this mess that quickly? in less than 4 years?
...
Apparently, yes. There are people that think we can recover from the greatest economic disaster since the Great Depression in 4 years... in a divided Congress that works very hard in not getting anything done and an opposition party who's open agenda is to bring down the other party, rather than helping our nation.
...
I like to call those people by their scientific name: Homo-headuphisassians
Allen Fieldhouse, home of the 2008 NCAA men's Basketball Champions! Go Jayhawks!
Hail, Hail!!!
stop foreclosures and force banks to write down the worth of properties mortgaged on their books to market value while reducing the principle owed by homeowners, fix the interest rate to 3% and re-amortize the monthly payment....major problem solved
stop foreclosures and force banks to write down the worth of properties mortgaged on their books to market value while reducing the principle owed by homeowners, fix the interest rate to 3% and re-amortize the monthly payment....major problem solved
...
THERE YOU GO!!! Constructive advice.
And i agree... it is better for a community to keep a family in a house, than to have that house sit vacant and in a state of disrepair.
Allen Fieldhouse, home of the 2008 NCAA men's Basketball Champions! Go Jayhawks!
Hail, Hail!!!
while I would agree much of it had to do with the tech bubble, we had high taxes during Clinton , enough to eventually run a budget surplus. Jobs were plentiful.
Coexistence <> Causation. See cincy's post about the .com boom.
Bush gets in office offers the tax cut, the rebate, goes to two unpaid for wars with no endgame to get out of them, jobs grow scarce and the economy tanks just prior to his departure. Hits bottom some months after he's back in Texas.
Hi, :wave: I'm a sub-prime mortgage, did you forget me? That makes me sad. :( I think I had plenty to do with the crash.
Wars don't cause recessions real-time (at least insofar as the war is fought on someone else's land). Their financial impact will be felt more as the associated debt burden comes to bear. Didn't you just say that WW2 pulled us out of the Great Depression?
stop foreclosures and force banks to write down the worth of properties mortgaged on their books to market value while reducing the principle owed by homeowners, fix the interest rate to 3% and re-amortize the monthly payment....major problem solved
stop foreclosures and force banks to write down the worth of properties mortgaged on their books to market value while reducing the principle owed by homeowners, fix the interest rate to 3% and re-amortize the monthly payment....major problem solved
Foreclosures were stopped (and have since restarted) and banks have been writing down their bad loan assets for some time. Why do you think so many were going out of business over the last couple years? FDIC Friday anyone?
I agree with reducing borrower UPB, but ONLY for the banks that took bailout money. It should have been a contingency so that joe schmoe (aka joe the plumber) could have benefited from some of that bailout $$.
If anyone refinanced when they should have, they would have gotten pretty damn close to 3% anyhow. Banks were pretty aggressively offering rate reductions (via refi) with minimal fees for a while. Probably not to every borrower though.
edit: also, it's principal. Not principle. Sorry, pet peeve. :silent:
while I would agree much of it had to do with the tech bubble, we had high taxes during Clinton , enough to eventually run a budget surplus. Jobs were plentiful.
Coexistence <> Causation. See cincy's post about the .com boom.
Bush gets in office offers the tax cut, the rebate, goes to two unpaid for wars with no endgame to get out of them, jobs grow scarce and the economy tanks just prior to his departure. Hits bottom some months after he's back in Texas.
Hi, :wave: I'm a sub-prime mortgage, did you forget me? That makes me sad. :( I think I had plenty to do with the crash.
Wars don't cause recessions real-time (at least insofar as the war is fought on someone else's land). Their financial impact will be felt more as the associated debt burden comes to bear. Didn't you just say that WW2 pulled us out of the Great Depression?
Yes I did. But that was a war we could really get behind. plus our military was attacked directly.
My point being, during Bush there was plenty of spending going on with a lowered tax rate. How did that work out for us?
Sub prime and the endless repackaging of that debt played a huge role. perfect financial shit storm by greedy people. and helped in part by delusional people who willingly got sucked into homes they had no reasonable hope of affording.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Yes I did. But that was a war we could really get behind. plus our military was attacked directly.
Right but now it seems like we're talking about whether the war was justified. Before we were strictly talking about economic impacts of waging war.
My point being, during Bush there was plenty of spending going on with a lowered tax rate. How did that work out for us?
Badly. Spend less and tax less, I always say. But again, deficit spending takes time to really crap on things. That's (one reason) why it's such a popular mechanism. Therefore it cannot be the cause of the near-term recession.
Sub prime and the endless repackaging of that debt played a huge role. perfect financial shit storm by greedy people. and helped in part by delusional people who willingly got sucked into homes they had no reasonable hope of affording.
Anyone in jail over that yet?
Got no beef with what you've said here. I think it was the primary (by far) cause of the recession, which is further than you seem willing to go, but I'll accept "huge role" and stop arguing.
Badly. Spend less and tax less, I always say. But again, deficit spending takes time to really crap on things. That's (one reason) why it's such a popular mechanism. Therefore it cannot be the cause of the near-term recession.
...
That is sound advice. Too bad no one is listening.
Democrats are known to be Tax and Spend... Republicans tend to be Don't Tax and Spend.
They all Spend... it just depends on how you want to pay for it... up front... or down the road.
Aren't we seeing the effects of deficit spending by people a decade ago? I mean, it comes due art some point, right?
...
So, which is better... taxing up front to pay for things... or buy now, pay later and factor in the interest?
Those are our choices because it doesn't matter who is in Office (Congress), the Spending part is going to happen, whether we like it or not.
Allen Fieldhouse, home of the 2008 NCAA men's Basketball Champions! Go Jayhawks!
Hail, Hail!!!
thanks, slow roasted beef with carrots and new potatos
dang that sounds good
really tho I truely hope things go well..nothing ever goes as smooth as we'd like but still I hope for the best,I just have a aweful feeling that things will not go so great but I hope my feeling is wrong.
just for shitz and giggles...why are we aked to pay higher taxes for a debt we have no control over ? if someone asked me how to spend the money I may have had a different idea on where to spend and not to spend.
just for shitz and giggles...why are we aked to pay higher taxes for a debt we have no control over ? if someone asked me how to spend the money I may have had a different idea on where to spend and not to spend.
Cosmo just wait man,I hope obama makes wise choices but if he goes in the direction he is now I think we could be in deep shit.
Godfather.
...
Like what? What decision is he going to make that will lead us to the thousand years of darkness Mr. and Mrs. Chuck Norris warned us of?
and he can do that... all by himself? Did we vote Obama in a God's replacement?
What direction are you warning us of?
I'd really like to know.... really.
really you need a friggin blueprint man ? telll ya what lets just watch for a few years...maybe sooner.
Godfather.
Oh yeah you must mean the mayan calendar dooms day right , man who talked you out of jumpin from the bridge you are still here posting
stop foreclosures and force banks to write down the worth of properties mortgaged on their books to market value while reducing the principle owed by homeowners, fix the interest rate to 3% and re-amortize the monthly payment....major problem solved
Foreclosures were stopped (and have since restarted) and banks have been writing down their bad loan assets for some time. Why do you think so many were going out of business over the last couple years? FDIC Friday anyone?
I agree with reducing borrower UPB, but ONLY for the banks that took bailout money. It should have been a contingency so that joe schmoe (aka joe the plumber) could have benefited from some of that bailout $$.
If anyone refinanced when they should have, they would have gotten pretty damn close to 3% anyhow. Banks were pretty aggressively offering rate reductions (via refi) with minimal fees for a while. Probably not to every borrower though.
edit: also, it's principal. Not principle. Sorry, pet peeve. :silent:
oh my!
foreclosures were slowed for 3 reasons:
1. the banks needed time to assess and plan for their greed then ran to the government to cut deals since they were caught robo signing loans and illegally foreclosing on homes, see the deal made with 49 state attorney generals (what would happen to you and i if we forged loan documents and cheated counties out of millions of dollars???)
2. the banks already held about 9 months worth of shadow inventory on their books so they needed to run to the government to cut a sell off deal, without tanking the housing market, see foreclosure to rental program $500billion, see Fed agreement to buy $40billion in MBS
3. the banks needed to slow foreclosures in order to trickle their shadow housing onto the market, its not in their best interest to flood the market with houses thereby decreasing the value of the houses still held on their books.....example if you stole 1000 pearl jam posters (with impunity) of their first ever show, would you put 500 on ebay all at once or slowly over time put them up for sale?
NO BANK HAS WRITTEN DOWN A LOAN UNLESS FORECLOSED UPON...if your talking about refis or mortgage modifications, there is no such write down, the interest rate is reduced (because they can borrow from the fed at 0%) and monthly payment adjusted. principal is shifted to the end of the term, similar to a balloon.
again banks were offering rate reductions not out of the goodness of their hearts but in order to clean up the paperwork mess and establish clear/clean title to properties they robo signed, which was part of the agreement with the 49 state attorney generals, offer low rates and clean up your mess!
for more info about how your consumer protection bureau is protecting the big banks...google "qualified mortgage".......... I would love to read your thoughts
Comments
Apparently, yes. There are people that think we can recover from the greatest economic disaster since the Great Depression in 4 years... in a divided Congress that works very hard in not getting anything done and an opposition party who's open agenda is to bring down the other party, rather than helping our nation.
...
I like to call those people by their scientific name: Homo-headuphisassians
Hail, Hail!!!
THERE YOU GO!!! Constructive advice.
And i agree... it is better for a community to keep a family in a house, than to have that house sit vacant and in a state of disrepair.
Hail, Hail!!!
Coexistence <> Causation. See cincy's post about the .com boom.
Hi, :wave: I'm a sub-prime mortgage, did you forget me? That makes me sad. :( I think I had plenty to do with the crash.
Wars don't cause recessions real-time (at least insofar as the war is fought on someone else's land). Their financial impact will be felt more as the associated debt burden comes to bear. Didn't you just say that WW2 pulled us out of the Great Depression?
Simple and Brilliant!
I agree with reducing borrower UPB, but ONLY for the banks that took bailout money. It should have been a contingency so that joe schmoe (aka joe the plumber) could have benefited from some of that bailout $$.
If anyone refinanced when they should have, they would have gotten pretty damn close to 3% anyhow. Banks were pretty aggressively offering rate reductions (via refi) with minimal fees for a while. Probably not to every borrower though.
edit: also, it's principal. Not principle. Sorry, pet peeve. :silent:
My point being, during Bush there was plenty of spending going on with a lowered tax rate. How did that work out for us?
Sub prime and the endless repackaging of that debt played a huge role. perfect financial shit storm by greedy people. and helped in part by delusional people who willingly got sucked into homes they had no reasonable hope of affording.
Anyone in jail over that yet?
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Badly. Spend less and tax less, I always say. But again, deficit spending takes time to really crap on things. That's (one reason) why it's such a popular mechanism. Therefore it cannot be the cause of the near-term recession.
Got no beef with what you've said here. I think it was the primary (by far) cause of the recession, which is further than you seem willing to go, but I'll accept "huge role" and stop arguing.
That is sound advice. Too bad no one is listening.
Democrats are known to be Tax and Spend... Republicans tend to be Don't Tax and Spend.
They all Spend... it just depends on how you want to pay for it... up front... or down the road.
Aren't we seeing the effects of deficit spending by people a decade ago? I mean, it comes due art some point, right?
...
So, which is better... taxing up front to pay for things... or buy now, pay later and factor in the interest?
Those are our choices because it doesn't matter who is in Office (Congress), the Spending part is going to happen, whether we like it or not.
Hail, Hail!!!
dang that sounds good
really tho I truely hope things go well..nothing ever goes as smooth as we'd like but still I hope for the best,I just have a aweful feeling that things will not go so great but I hope my feeling is wrong.
Godfather.
Godfather.
http://underthemountainbunker.files.wor ... 5/1-14.jpg
...
It is from 2011... go ahead... hack away.
Hail, Hail!!!
Oh yeah you must mean the mayan calendar dooms day right , man who talked you out of jumpin from the bridge you are still here posting
Godfather.
oh my!
foreclosures were slowed for 3 reasons:
1. the banks needed time to assess and plan for their greed then ran to the government to cut deals since they were caught robo signing loans and illegally foreclosing on homes, see the deal made with 49 state attorney generals (what would happen to you and i if we forged loan documents and cheated counties out of millions of dollars???)
2. the banks already held about 9 months worth of shadow inventory on their books so they needed to run to the government to cut a sell off deal, without tanking the housing market, see foreclosure to rental program $500billion, see Fed agreement to buy $40billion in MBS
3. the banks needed to slow foreclosures in order to trickle their shadow housing onto the market, its not in their best interest to flood the market with houses thereby decreasing the value of the houses still held on their books.....example if you stole 1000 pearl jam posters (with impunity) of their first ever show, would you put 500 on ebay all at once or slowly over time put them up for sale?
NO BANK HAS WRITTEN DOWN A LOAN UNLESS FORECLOSED UPON...if your talking about refis or mortgage modifications, there is no such write down, the interest rate is reduced (because they can borrow from the fed at 0%) and monthly payment adjusted. principal is shifted to the end of the term, similar to a balloon.
again banks were offering rate reductions not out of the goodness of their hearts but in order to clean up the paperwork mess and establish clear/clean title to properties they robo signed, which was part of the agreement with the 49 state attorney generals, offer low rates and clean up your mess!
for more info about how your consumer protection bureau is protecting the big banks...google "qualified mortgage".......... I would love to read your thoughts
house hunting the past 8 months.
The homes are being bought up and then rented out,
even large homes and they are no longer for sale.
I think that is scary. I certainly do not want a landlord!