it doesnt even matter who you pick, after this $700 billion bail out you guys will officially be living in a comunist state.
oh and i think i'd bang Sarah Palin, she looks like a MILF
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2006 Street A - 152.7 Certified 2007 Street C - 154.8 Certified 2007 Street A - 154.4 Certified 2008 Street C - 156.3 Certified 2008 Street B - 156.6 Certified
posted
700 bil bailout.. they said the new ceiling for debt would be 11.2 tril.
the 700 nil bailout would dwarf the war in Iraq.
the American taxpaer is basically going to pay for every loan banks lent unworthy people. and because they called debt when they could have lowered payments and/or interest. yeah, they would have lost some profit.. but they are fawked now that they didn't.
so yeah, you and I are going to pay for the Banks' new houses and debt. and we're going to get nothing in return...
wait, I take that back. we're going to get a lowered standard of living. hey, at least we get something... right?
quote:Originally posted by Iconoclast: 700 bil bailout.. they said the new ceiling for debt would be 11.2 tril.
the 700 nil bailout would dwarf the war in Iraq.
the American taxpaer is basically going to pay for every loan banks lent unworthy people. and because they called debt when they could have lowered payments and/or interest. yeah, they would have lost some profit.. but they are fawked now that they didn't.
so yeah, you and I are going to pay for the Banks' new houses and debt. and we're going to get nothing in return...
wait, I take that back. we're going to get a lowered standard of living. hey, at least we get something... right?
we shouldn't have bailed them out because according to capricewagon and conclusive our economy is very strong, so hell let's not bail them out a damn thing with our "strong" economy im sure they will be aight
posted
the further this nation alienates God the worse off it gets /
listen to obamas preacher ftw, and a misguided following of people want someone like this running this country are you kidding me ? he won't even wear the american flag lapel
if this person is elected you will see just how bad things will get, do your homework on the issues and don't believe sound bites and the liberal media spewing their redderick
-------------------- Team Bass Coat
MTX MAXXSONICS Pioneer
Bruce Dressel
In loving memory of my sister Kerry Ann Johnson 1970 - 2008
quote:Originally posted by sensai: wtf does it matter, just because you spell check every one of your post dosen't mean a damn thing
*waits for him to copy and paste into word then post my grammer,spelling mistakes*
I don't use spell check Sensai, nor do I need it. Its called an education. Its called college. Look into it.
dont need to, i have a career making more than i would with with a degree , but thanks tho, and quick question for ya, are the fundamentals of the economy still strong, its seems mccain dosent think so anymore.
posted
well, I think the fundamentals are strong (with the exception of forcing banks to make loans to people who can't afford them.. which is how all this ish got started). the economy sucks right now though. lots of things compounding.
look up "redlining" upsides and downsides to stopping it... this huge recession is a HUGE downside to it. should we force banks to lend to everyone? or should we let the market be more stable and allow Banks to make their own investment decisions, and turn away offers that aren't profitable?
I'm thinking banks should be more free in that respect... yes, I do think its unfair for some. but causing an economic collapse is far worse IMO.
and YES, I do realize thats a conservative view. but I think its right...
posted
didnt know banks were forced to do this? who forced them? i think the only force behind that move was GREEEEEEEEED.
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2006 Street A - 152.7 Certified 2007 Street C - 154.8 Certified 2007 Street A - 154.4 Certified 2008 Street C - 156.3 Certified 2008 Street B - 156.6 Certified
posted
nah, I'll have to look it up, but its a law
they were descriminating because of backgrounds, where people were from, etc. if more than a certain percentage of people in an area defaulted on loans, they wouldn't loan anyone in that area any money. there is a better definition I'm sure, its called "red-lining." But thats now illegal. Now anyone can get a loan, albeit at high percentage rates, or variable rate mortgages (I'll say VRM for short)...
from the bank's perspective...
VRM's are good, in general, because of the person defaults, the bank gets the property, and interest paid. they win no matter what.
BUT, the problem is, when too many people default at the same time. the banks didn't have the "physical" cash on hand to cover the debts. see, banks have to have a certain percentage of money on hand to cover their butts. So the banking system doesn't collapse... cause if it does, everything does...
the reason for this is FIAT (fake) money. our money isn't backed by anything... they just print what they want (about to print 700 bil worth...) and hope for the best. I forgot exactly... but its something like banks have to back their cash loaned out by at least 15% cash... ok, didn't explain that well. in short, they can load out as much as 6.667 times as much money as they actually have. so, as long as 15% or less of their loans don't default, they're in the green. If they do... then reality sets in. there is no money.
what happened here is that, the fed reserve (which is run by banks) lowered the prime rate (the rate at which banks borrow money from the red reserve) too fast, and people who couldn't afford normal loans, applied for VRM's.
That in itself is nt bad... but they overheated the economy, and needed to cool it down, so they increased interest rates to keep the economy growing at a sustainable rate... BUT the people with VRM's who had no business taking out a loan in the first place, were stuck with having to pay far more than they could. so they defaulted...
usually this isn't a problem, BUT since so many people accepted VRM's when the prices were low, the percentage of loans that banks had in high-risk VRM's was too high... and when people started defaulting, the banks didn't have enough cash to cover it, so they had to "liquidate" assets. In mass asset liquidation, they had to sell Real property at below market values in order to get cash to cover losses... and ion many cases, they either didn't have enough assets to cover losses, or couldn't liquidate fast enough.
so people are stuck in huge debt with no homes... banks are going bankrupt... house prices are artificially low, and the american taxpayer is footing the bill for it all
both liberals and conservatives did their part in this mess... nobody is without blame. but we all have to take responsibility
posted
when someone offers to loan you money on the premis that it basically sounds too good to be true guess what happens 3 years later ? super delusional lenders and borrowers make for a sweet outcome
-------------------- Team Bass Coat
MTX MAXXSONICS Pioneer
Bruce Dressel
In loving memory of my sister Kerry Ann Johnson 1970 - 2008
posted
Well the 2nd big democratic fundraiser and hillary supporter has just jumped ship to the McCain camp. Maybe they're realizing the truth also. They don't want nobama either.
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-------------------- Team Image Dynamics/Zapco/Werewolf/JK Lab Team Kinetik Sick Bastard Audio SQ Who feels it knows it Posts: 7866 | From: Charlotte,NC USA | Registered: May 1999
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1. Economy to fail 2. Gas to go up 3. People wanting more gas so we using more than we make, getting country in debt.
No one in the world can say anything good/bad about a decision Bush made, because no one was in his situation.. McCain for me ...
Posts: 95 | From: Oklahoma | Registered: May 2004
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posted
McCain is slipping in the polls' the debate showed this guy is stuck in the 20th Century and old school storys. as a matter of fact i knew McCain looks like someone??? i watch Austin Powers last night and McCain looks like Dr Evil and even sounds like him lol
-------------------- 2006 IDBL 2ND PLACE WORLD FINALS 2008 World Records TBA LiL Scrappy The Louddest Honda 600 in The World! www.quadaudio.net Posts: 1899 | From: Palm Springs,CA | Registered: May 2002
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quote:Originally posted by winslow: Interesting that the murder rate in Illinous has gone up since the big O has been in office there. But he doesn't say much about that.
Double the rate of murders in Chicago than in Iraq...hmm.
Crime is going up in all major cities because of the Economy not because of Obama
-------------------- 2006 IDBL 2ND PLACE WORLD FINALS 2008 World Records TBA LiL Scrappy The Louddest Honda 600 in The World! www.quadaudio.net Posts: 1899 | From: Palm Springs,CA | Registered: May 2002
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quote:Originally posted by Spl_Lover: Osama Bin laden caused :
1. Economy to fail 2. Gas to go up 3. People wanting more gas so we using more than we make, getting country in debt.
No one in the world can say anything good/bad about a decision Bush made, because no one was in his situation.. McCain for me ...
LMFAO!!!! We have a replacement capricewagon!!!!!!!!! wooooottt!!!!!!!!
dude, whjere the hell do you get your information? a cracker jack box? Nobody has claimed that. No, not even republicans (hey, I give credit where its due). seriously, dude, wtf? you seem like you actually believe that...
and Winslow... uhh... 1. wtf are yu talking about? 2. what the hell does it have to do with Obama? (wnt to page- edit- find-
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