look for kent d

[GBBob]

Originally Posted by justindew

No. But I know a lot about economics. And I know that many economists would say that the only really "bad" economies we have truly experienced in America were the Great Depression and a period in the 1970s.

Even the recession of the 1990s was not bad. It was part of the normal economic cycle.

What bugs me isn't whether you think the economy is "bad" or not...and relatively speaking...yeah, it is. It's how you dismiss those who are having tough times so casually..

So a small percentage of people who never should have owned homes to begin with are going to lose their homes. Big deal

If you purchased a home that you COULD afford with the intention of living in it for the duration, you have zero to worry about. This is a fact.

Now, if you stupidly purchased a home that you could not afford as an investment in 2005 and hoped to flip it to make a profit, you are probably going to get burned.

You tell me what's wrong with each of these..either morally or economically

[justindew]

Originally Posted by GBBob

What bugs me isn't whether you think the economy is "bad" or not...and relatively speaking...yeah, it is. It's how you dismiss those who are having tough times so casually..

So a small percentage of people who never should have owned homes to begin with are going to lose their homes. Big deal

If you purchased a home that you COULD afford with the intention of living in it for the duration, you have zero to worry about. This is a fact.

Now, if you stupidly purchased a home that you could not afford as an investment in 2005 and hoped to flip it to make a profit, you are probably going to get burned.

You tell me what's wrong with each of these..either morally or economically

I'm not exactly sure what you are asking me. But I'll try to respond.

What EXACTLY is the problem with the housing market? I don't consider a decrease in prices off their insanely high levels of 2005 to be a problem. Again, prices are higher than they were five years ago. And the only people who are going to be HURT by the "housing crisis" are A) people who bought houses they could not afford and had no business owning, B) people who used their homes as ATMs, and spent cash that they didn't really have by refinancing, and C) realtors and mortgage brokers, who also happen to be part of the problem.

Again, if the Jones family loses their home to forclosure and has to move out and rent a home, are they REALLY any worse off than they would have been had they done the responsible thing to being with (rent)? No. Their credit rating will take a hit. But they are hardly ruined.

The media and the democrats have made a campaign slogan out of this, citing the "poor people who are going to lose their homes." Well, 9 times out of 10, those homes never should have been theirs to being with. So I feel no sympathy. AND THEY AREN'T GOING TO BE LIVING IN THE STREET. RENTING ISN'T A BAD THING.

I'm not dismissing anyone. The OVERWHELMING MAJORITY of people who are affected by this temporary downturn in the economy have themselves to blame. Unfortunatly, neither the media nor politicians on either side of the aisle gain anything by holding people accountable.

[stonegossard]

Originally Posted by justindew

I'm not exactly sure what you are asking me. But I'll try to respond.

What EXACTLY is the problem with the housing market? I don't consider a decrease in prices off their insanely high levels of 2005 to be a problem. Again, prices are higher than they were five years ago. And the only people who are going to be HURT by the "housing crisis" are A) people who bought houses they could not afford and had no business owning, B) people who used their homes as ATMs, and spent cash that they didn't really have by refinancing, and C) realtors and mortgage brokers, who also happen to be part of the problem.

Again, if the Jones family loses their home to forclosure and has to move out and rent a home, are they REALLY any worse off than they would have been had they done the responsible thing to being with (rent)? No. Their credit rating will take a hit. But they are hardly ruined.

The media and the democrats have made a campaign slogan out of this, citing the "poor people who are going to lose their homes." Well, 9 times out of 10, those homes never should have been theirs to being with. So I feel no sympathy. AND THEY AREN'T GOING TO BE LIVING IN THE STREET. RENTING ISN'T A BAD THING.

I'm not dismissing anyone. The OVERWHELMING MAJORITY of people who are affected by this temporary downturn in the economy have themselves to blame. Unfortunatly, neither the media nor politicians on either side of the aisle gain anything by holding people accountable.

So the only ones hit by this were the people who took out the loans ?


Go to google and type in "CDO". I agree that a lot of the people who got hurt had zero business getting these huge loans/mortgages...but to say they were the only ones affected is moronic. There are a TON of people who are being affected by whats going on, and had nothing to do with these bad loans. Go do some reading on Auction Rate Securities and whats goin on with them, and how their failures are effecting not only a lot of people...but a lot of businesses.


Your views are beyond distorted...just like the guy you are obviously a big fan of who thank god is a goner in 6 mos. It's kinda funny how his colossal screw ups are gonna hurt his party big time in November.

Originally Posted by stonegossard

Your views are beyond distorted...just like the guy you are obviously a big fan of who thank god is a goner in 6 mos. It's kinda funny how his colossal screw ups are gonna hurt his party big time in November.

Yes and then the middle class will really take it in the ass when the capital gain tax is increased and they are forced to sit on their mutual funds for at least 4 years...unless they want to take the hit.


Good times. Both parties are d'awesome.

[stonegossard]

Originally Posted by Coach Pants

Yes and then the middle class will really take it in the ass when the capital gain tax is increased and they are forced to sit on their mutual funds for at least 4 years...unless they want to take the hit.


Good times. Both parties are d'awesome.

Hey...there are bad parts about both parties......I just think one of em is worse.

[Danzig]

Originally Posted by Coach Pants

Yes and then the middle class will really take it in the ass when the capital gain tax is increased and they are forced to sit on their mutual funds for at least 4 years...unless they want to take the hit.


Good times. Both parties are d'awesome.

yeah, just d'lectable.

[justindew]

Originally Posted by stonegossard

So the only ones hit by this were the people who took out the loans ?


Go to google and type in "CDO". I agree that a lot of the people who got hurt had zero business getting these huge loans/mortgages...but to say they were the only ones affected is moronic. There are a TON of people who are being affected by whats going on, and had nothing to do with these bad loans. Go do some reading on Auction Rate Securities and whats goin on with them, and how their failures are effecting not only a lot of people...but a lot of businesses.


Your views are beyond distorted...just like the guy you are obviously a big fan of who thank god is a goner in 6 mos. It's kinda funny how his colossal screw ups are gonna hurt his party big time in November.

The VAST majority of people who got "bad" or "clever" loans could afford a home, just not the one they got. And while I blame the lenders, the borrowers are the ones at fault for trying to purchase more home than they could afford.

Very, very few responsible people are going to be affected by the housing issue. Will some? Yes. But by and large, it will be greedy people who made a financial decision that they had no business making.

My comment about bank accounts was an overreaction to your childish comment abou whether or not I had a job. I should not have made it, and I regret it. But yes, I have a job and I earn a living. Not that that matters.

I am not a fan of George Bush. But I am a republican.

I also never got personal until you did. You acted in a way that most democrats I know act. When someone disagrees with you and responds with facts, you attack the person instead of the argument. It happens all the time. I live in Washington DC, and I know a ton of people in politics. I have been in a million debates with both democrats and republicans. And there is nothing easier than identifying a person's political persuasion by their style of argumentation. The more personal attacks and emotional retorts one makes, the more likely he is a liberal. Take it to the bank. Go back and compare my arguments to yours, and see if I am right.

The botton line is that the economy is so vast and complicated that if you put ten economists in a room and told them to come up with a definition of the economy, you could probably not get any two of them to agree. But one thing they WOULD agree on is that every economy goes through cycles. And just because some times are better than others does not mean that the bad times equate to a bad ecomony. That's just nonsense, especially when everyone has a job and people are spending money on things like TVs and vacations.

[stonegossard]

Originally Posted by justindew

The VAST majority of people who got "bad" or "clever" loans could afford a home, just not the one they got. And while I blame the lenders, the borrowers are the ones at fault for trying to purchase more home than they could afford.

Very, very few responsible people are going to be affected by the housing issue. Will some? Yes. But by and large, it will be greedy people who made a financial decision that they had no business making.

My comment about bank accounts was an overreaction to your childish comment abou whether or not I had a job. I should not have made it, and I regret it. But yes, I have a job and I earn a living. Not that that matters.

I am not a fan of George Bush. But I am a republican.

I also never got personal until you did. You acted in a way that most democrats I know act. When someone disagrees with you and responds with facts, you attack the person instead of the argument. It happens all the time. I live in Washington DC, and I know a ton of people in politics. I have been in a million debates with both democrats and republicans. And there is nothing easier than identifying a person's political persuasion by their style of argumentation. The more personal attacks and emotional retorts one makes, the more likely he is a liberal. Take it to the bank. Go back and compare my arguments to yours, and see if I am right.

The botton line is that the economy is so vast and complicated that if you put ten economists in a room and told them to come up with a definition of the economy, you could probably not get any two of them to agree. But one thing they WOULD agree on is that every economy goes through cycles. And just because some times are better than others does not mean that the bad times equate to a bad ecomony. That's just nonsense, especially when everyone has a job and people are spending money on things like TVs and vacations.

Funny how most conservatives/republicans have their head in the sand. "The war is going great"..."The economy is fine". You people are clueless. I was never pro-republican or pro democrat until the last 5 yrs or so. In the past I just wanted the right guy in the white house. But between Bush being the worst president we have ever seen and borderline criminal...and the religious right wing nutjobs, I have gone to the democratic side.

I dont believe I attacked you at all. In fact....you were the one who started Sh#T with me in the other thread...I hammered you....now you are whining that I started everything. If you cant take criticsim then dont insitgate with others. Pretty simple.

Seriously...go do some research on Auction Rate Securities and explain to me why they went so bad. Hopefully you will learn something and see where the root of the problems came from and how many people who had zero to do with subprime mortgages are getting screwed over.

The good thing is you are only 32 and there is time for you to figure it out.

[hoovesupsideyourhead]

im a republican ..the war sucks the econ sucks.now is oabama gonna turn it around with "hope"..no.....if he gets in it will be the same shiet..

[stonegossard]

Originally Posted by hoovesupsideyourhead

im a republican ..the war sucks the econ sucks.now is oabama gonna turn it around with "hope"..no.....if he gets in it will be the same shiet..

You know what...you might be right. Who knows...but I highly doubt it can get much worse than it is heading now. I think we need someone in there who is gonna make the changes necesary to get back on track. I dont see McCain doin that. If he has his way we will be in Iraq until the year 4000. Kinda sad how this country is pumping a crazy amount of money into a war gone bad when we need the money here.

But hey...if in 4 yrs things get worse I will be the first to admit I was wrong.

Originally Posted by hoovesupsideyourhead

im a republican ..the war sucks the econ sucks.now is oabama gonna turn it around with "hope"..no.....if he gets in it will be the same shiet..

It'll be far worse for the working class. His whole deal is rewarding the poor.

[stonegossard]

Originally Posted by DaHoss9698

Justin, have you been letting KYRIM post under your name the last few days?

I feel like I am arguing with some chick on the rag. Unbelievable. Funny thing is I have some very close friends who are huge republicans....and while we dont agree on much politically....we all agree that the economy is in bad shape and if things continue, it will get really ugly.

Hey...I hope things turn around and the economy skyrockets...regardless of who is in the White House. But unlike Ms. Dew, I am a realist and dont go through life with my eyes closed to things I dont wanna see.


Anyways......I think we have beaten this subject into the ground.