The comming Obama economic collapse?

[Mustang]

The collapse of 2008 was caused by greed. Greed of people buying houses they couldn't afford. Greed of bankers letting them do it. Greed of our govt for pushing it. Something for nothing essentially.

Now here we are 4 years later repeating the same bullshit just in different areas. Free shit for everyone. Oh and lets even spread the wealth among a million new amnesty receipiants.

According to the libs we're not broke despite borrowing nearly half the money we spend. Hell, we can't even print the shit fast enough to pay off the interest.

We just keep on keeping on. Borrow, print and give away.

Buying a house you can't really afford is not an example of greed.

 

[Remodeling Maidiac]

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If there is indeed an economic collapse on the way -- and I don't believe there is -- it would be the result of three decades of profligate spending by both political parties, by an abject inability of the American public to practice anything approaching personal financial discipline, a significant and ongoing decay of our culture, and a complete failure of our so-called "leaders" to control any of the above.

A global financial fucking mess of this kind of depth, breadth and complexity is not created in three, or five, or ten years, and I can't imagine anyone truly believes that it is.

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Agreed but my point was that since the disaster we have continued to spend as if nothing happened.

If you take your wrecked car to an autobody repair shop and a month later its in the same condition it is not their fault for the wreck but certainly they solely bare the resonsibility for not having done the job they were hired to do.

The red flags are all rippin in the wind but seemingly not many have noticed them much less done anything to take them down.

 

[Remodeling Maidiac]

The collapse of 2008 was caused by greed. Greed of people buying houses they couldn't afford. Greed of bankers letting them do it. Greed of our govt for pushing it. Something for nothing essentially.

Now here we are 4 years later repeating the same bullshit just in different areas. Free shit for everyone. Oh and lets even spread the wealth among a million new amnesty receipiants.

According to the libs we're not broke despite borrowing nearly half the money we spend. Hell, we can't even print the shit fast enough to pay off the interest.

We just keep on keeping on. Borrow, print and give away.

Buying a house you can't really afford is not an example of greed.

Lol...wut?

I suppose its just being humble?

 

[Mustang]

The collapse of 2008 was caused by greed. Greed of people buying houses they couldn't afford. Greed of bankers letting them do it. Greed of our govt for pushing it. Something for nothing essentially.

Now here we are 4 years later repeating the same bullshit just in different areas. Free shit for everyone. Oh and lets even spread the wealth among a million new amnesty receipiants.

According to the libs we're not broke despite borrowing nearly half the money we spend. Hell, we can't even print the shit fast enough to pay off the interest.

We just keep on keeping on. Borrow, print and give away.

Buying a house you can't really afford is not an example of greed.

Lol...wut?

I suppose its just being humble?

Greed involves taking something like money. And it has to be excessive in nature in such a way that you're taking a greater share than other people. Or you're taking more than the value of whatever work you're performing. But the bottom line is that you're taking something.

On the other hand, you have to PAY for a house you buy. And if you can't afford it, you can't pay for it. Therefore, there is NO greed on the part of someone purchasing a house beyond their financial means.

Now, what would BE greedy is for a loan agent or a real estate agent to coerce (or convince) a prospective client to apply to purchase a house he couldn't afford in order to make a bigger commission. And that, in FACT, did happen quite frequently. That's how people ended up in those homes they couldn't really afford.

 

[Remodeling Maidiac]

You should change your name from mustang to bull cause that's a stinking pile of bullshit that's been highly polished

 

[edthecynic]

you have never been correct in any of your predictions.

that makes you predictions worthless

We were right about the Muslim Brotherhood taking over Egypt.
We were right about people being laid off because of the Health Care bill and losing the Health Care that they used to have.
We have been right about a lot of things.
You are the one who refused to believe what we said.

You haven't been Right about anything. For example there are presently over 100,000 Egyptians protesting in the streets the ATTEMPTED Muslim Brotherhood take over of Egypt!

 

[Mac1958]

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From Dictionary.com:

Greed
n
Excessive or rapacious desire, especially for wealth or possessions.

Buying a home that you know you can't afford is definitely a form of greed.

.

 

[francoHFW]

The opposition suqs in Egypt too. They seem to only think boycott and protest are all that works, Hell, many boycotted the election. They're all learning.

 

[Wry Catcher]

The collapse of 2008 was caused by greed. Greed of people buying houses they couldn't afford. Greed of bankers letting them do it. Greed of our govt for pushing it. Something for nothing essentially.

Now here we are 4 years later repeating the same bullshit just in different areas. Free shit for everyone. Oh and lets even spread the wealth among a million new amnesty receipiants.

According to the libs we're not broke despite borrowing nearly half the money we spend. Hell, we can't even print the shit fast enough to pay off the interest.

We just keep on keeping on. Borrow, print and give away.

Home prices: Biggest rise in more than 2 years - Nov. 27, 2012

 

[Old Rocks]

The collapse of 2008 was caused by greed. Greed of people buying houses they couldn't afford. Greed of bankers letting them do it. Greed of our govt for pushing it. Something for nothing essentially.

Now here we are 4 years later repeating the same bullshit just in different areas. Free shit for everyone. Oh and lets even spread the wealth among a million new amnesty receipiants.

According to the libs we're not broke despite borrowing nearly half the money we spend. Hell, we can't even print the shit fast enough to pay off the interest.

We just keep on keeping on. Borrow, print and give away.

Now Gramps, gonna call you on this every year from now until 2017.

My prediction. Continueing slow growth for 18 to 24 months, then stronger growth. And the 'Conservatives' will continue to pray for hard times for all but the rich Americans.

 

[Old Rocks]

you have never been correct in any of your predictions.

that makes you predictions worthless

We were right about the Muslim Brotherhood taking over Egypt.
We were right about people being laid off because of the Health Care bill and losing the Health Care that they used to have.
We have been right about a lot of things.
You are the one who refused to believe what we said.

Really?

 

[Old Rocks]

And you were right about the Romney Electorial Landslide, also

 

[LoneLaugher]

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From Dictionary.com:

Greed
n
Excessive or rapacious desire, especially for wealth or possessions.

Buying a home that you know you can't afford is definitely a form of greed.

.

Every now and then you remind us that you are a prick.

If the buyer "knows he or she cannot afford" a home......then the loan officer should certainly know as well. If the banks were not greedy......the loan would not have been made available to the buyer.

 

[Old Rocks]

There is a factor here not mentioned. Many of these loans were made at monthly payment rates that were 1/2 of rent in the areas at the time. A young family, faced with the prospect of paying over half their income in rent, or paying nothing down, and moving into a nice house at 1/2 the cost, with an increase 2 to 5 years down the road, what do you think they were going to do. Especially when the loan officer was showing them the increase in housing values in the area for the last five years.

 

[Mac1958]

There is a factor here not mentioned. Many of these loans were made at monthly payment rates that were 1/2 of rent in the areas at the time. A young family, faced with the prospect of paying over half their income in rent, or paying nothing down, and moving into a nice house at 1/2 the cost, with an increase 2 to 5 years down the road, what do you think they were going to do. Especially when the loan officer was showing them the increase in housing values in the area for the last five years.

Problem is, there was much more to it than that. People were taking 125% home equity loans out to pay off the credit cards they had run up, then ran those same damn cards up again. They were buying homes with little or nothing down, they knew damn well there were balloon payments coming up, they did it anyway. The no-doc loans allowed them to buy homes they knew they would not be able to pay for. The low interest rates allowed them to pay less for a more humble home, but they decided to buy as much house as they could "afford" instead.

We can pretend these people are victims, or we can realize that no one forced them to sign on the dotted line and hold them accountable as adults for their decisions. They were greedy, the mortgage people were greedy, everybody was fuckin' greedy, and here we are. This was a team effort.

.

 

[LoneLaugher]

Yeah. Those home buyers sure took advantage of the banks. Bastards!

 

[LoneLaugher]

There is a factor here not mentioned. Many of these loans were made at monthly payment rates that were 1/2 of rent in the areas at the time. A young family, faced with the prospect of paying over half their income in rent, or paying nothing down, and moving into a nice house at 1/2 the cost, with an increase 2 to 5 years down the road, what do you think they were going to do. Especially when the loan officer was showing them the increase in housing values in the area for the last five years.

Problem is, there was much more to it than that. People were taking 125% home equity loans out to pay off the credit cards they had run up, then ran those same damn cards up again. They were buying homes with little or nothing down, they knew damn well there were balloon payments coming up, they did it anyway. The no-doc loans allowed them to buy homes they knew they would not be able to pay for. The low interest rates allowed them to pay less for a more humble home, but they decided to buy as much house as they could "afford" instead.

We can pretend these people are victims, or we can realize that no one forced them to sign on the dotted line and hold them accountable as adults for their decisions. They were greedy, the mortgage people were greedy, everybody was fuckin' greedy, and here we are. This was a team effort.

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If the nutters had not devised a plan to strip the middle class of income, the average blue collar worker would be making twice what they make now....and would be just fine in that fucking house that they just got kicked out of.

Americans used to be able to provide a fantastic standard of living ON ONE BLUE COLLAR salary. That meant a home, two cars, appliances, health care, a vacation, college for the runts and a stable retirement. All on the backs of a guy with work boots and a lunchbox.

When that reality faded away as a result of Reaganomics.............the Jones' needed two incomes to get the same standard of living. And when that wasn't enough......out came the credit cards.

FUCK!!!!!!!! Stop blaming people for wanting to live as well as their parents did.......while working harder. Fuck!!!!!

 

[Remodeling Maidiac]

you have never been correct in any of your predictions.

that makes you predictions worthless

We were right about the Muslim Brotherhood taking over Egypt.
We were right about people being laid off because of the Health Care bill and losing the Health Care that they used to have.
We have been right about a lot of things.
You are the one who refused to believe what we said.

You haven't been Right about anything. For example there are presently over 100,000 Egyptians protesting in the streets the ATTEMPTED Muslim Brotherhood take over of Egypt!

The take over happened none the less. Only time will tell if freedom takes hold. Being that its Muslims in the middle east we're talking about I won't be holding my breath.

 

[Avatar4321]

You haven't been Right about anything. For example there are presently over 100,000 Egyptians protesting in the streets the ATTEMPTED Muslim Brotherhood take over of Egypt!

Oh so the Morsi hasnt turned Egypt into an Islamic regime?

 

[Againsheila]

The dollar is worth how much?

Oh oh, I know, 100 pennies...