RobDownSouth
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Still more bitter Republican tears. I love it.
Democrat Culture of Corruption Precludes Patriotism
- Thread starter Frisco_Slug_Esq
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Still more bitter Republican tears. I love it.
Ulaven_Demorte
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Never invest more than you can afford to lose. You should probably refrain from giving any investment advice to anyone.
I've done pretty well this year, I'm sitting at 18% rate of return right now YTD and I'm pretty conservative in my investments.
It just cracks me up that the "right" is actively rooting for the economy to fail so that they can blame the President and the Democrats for it. If that's not unpatriotic and unAmerican partisan bullshit I don't know what is.
koalabear
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Pretty much leaves you at zero then doesn't it.
Ulaven_Demorte
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Swing and a miss little bear. I've been contributing to an investment account for years and taking advantage of my employer matching most of my contribution to boot.
If it gives your little bear heart a thrill to think I'm penniless then have at it. I guess it makes your own situation seem better to you to imagine that others have it as badly.
Don't worry little bear. I'm sure things will look up for you soon. I'll ask someone who gives a shit to pray for you or something.
koalabear
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I'm just fine, and will continue to be so. You better worry about the upcoming taxes to pay for the free health care.
Ulaven_Demorte
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Somehow I'm not worried about paying a little more to make sure that everyone has health insurance.
Noting is free.. You should probably refrain from giving health care advice too.
koalabear
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Wait till you see your "little more".
RobDownSouth
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Did you notice that Cap'n Hypocrite has begun claiming he called the market bottom in February and reallocated all his assets into stocks back then? He's made a small fortune once again! Pity he doesn't share this sort of advice when he actually makes those miracle investments, dontcha think?
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The_Trouvere
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Affluent Republicans know that if President Obama is successful they will get tax increases.
Ulaven_Demorte
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While some foreclosures can be attributed to unemployment or underemploment many of the are due to the decline in housing values, not because the owner can't pay, but because they see it as a lost investment when they owe much more than the property is worth. Another product of a burst housing bubble and people maxing out loans on overvalued property.
As mentioned in the part of the article you left for the "rest here"..
"A study of the trend by the Chicago Booth School of Business and the Kellogg School of Management determined that when home price declines drop home values 10% below the mortgage balances, people start to give up their homes. When "negative equity" approaches 50%, 17% of households default, even when they can still afford their mortgage payments."
It would seem that some of those foreclosure figures aren't so much of an economic indicator as they are an indicator of homeowner stupidity in borrowing the max from predatory lenders against property whose value dropped significantly and real estate prices became more sane.
Hell I know a guy that refinanced and rolled BOTH of his car loans into his mortgage. He thought it was brilliant that he no longer had a car payment until I pointed out that he was now paying for those cars for the next 30 years instead of the next 5. He's wondering how to get rid of the upside down mortgage he is now the proud owner of.
People let mortgage companies and real estate agents talk them into stupid shit every day. I know of at least two men that work with me that lost their homes because their sub-prime loan went to an adjustable rate and they owed more than the house was worth making it impossible to refinance. They had nice low payments right up until the teaser rate expired and their payments doubled, then tripled. That was stupidity and an inflated housing market, not a bad economy. unfortunately there seems to be a LOT of stupid people.
Obama_Sucks
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Democrats are a bunch of crazies!
Frisco_Slug_Esq
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I've made that call in this thread moron...
Frisco_Slug_Esq
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Affluent Democrats know they can simply not pay their full share of their patriotic duty any more than the New Black Panthers, SEIU and ACRON have to worry about the Justice Department.
Frisco_Slug_Esq
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Inference, you shouldn't mind paying more.
Explanation: Typical Leftist tactic which says, I'm not greedy, ergo you are. If you are greedy and selfish then I have a moral imperative under the guise of social justice to enable government to steal a piece of your life and give it to someone else.
It has a corollary, as long as there are any poor that can be found and identified, there no end to the "little mores" of government...
(Mores, mores, get it...
)__________________
"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it."
...
"Sometimes the law defends plunder and participates in it. Sometimes the law places the whole apparatus of judges, police, prisons and gendarmes at the service of the plunderers, and treats the victim - when he defends himself - as a criminal.”
Frederic Bastiat
RobDownSouth
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Please point out the thread from Feb/March where you inform us about fully investing your money in the market and I'll be happy to apologize (unlike you and Vetteman, I have no trouble whatsoever admitting when I am mistaken).
Until you do so, I'll stand by my contention that you are one lying sack of situational Native American shit.
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Ulaven_Demorte
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I'm very much aware.
It's pretty much the same issue with commercial real estate loans as with residential (sub-primes). Property was over-valued, loans taken out based on 100% occupancy and in some cases owners leveraged the property to "cash out" for more than the actual worth of the property based on projected income over the life of the loan.
When the economy started to decline (starting in Dec 2007) some businesses started going under, once full strip mall properties lost the income from those failed businesses. They now own a property on which they owe much more than the actual value and if they can't negotiate a deal with the already stressed banks they will go into foreclosure. Much like homeowners with upside down mortgages on their homes some will simply allow them to be foreclosed on, some will have no choice in the matter.
It's another symptom of the same disease. Banks were much too lenient in their lending policies in a booming real estate market. We're paying the price for the deregulation of the banking industry in spades and will continue to do so for quite some time.
I'm curious how you will try to spin this to somehow be the fault of Fannie and Freddie instead of the simple greed of property owners and banking institutions who thought the bubble would never burst and that they could milk an inflated real estate market forever without repercussions.
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Frisco_Slug_Esq
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Was Raines "Greedy" when he cooked the books to the tune of 90 million?
Liberal tell.
All the world's problems are a result of "greed."
That's an incorrect assessment, the root of all evil is "envy..."
__________________
"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it."
Frederic Bastiat
Liberal tell.
All the world's problems are a result of "greed."
That's an incorrect assessment, the root of all evil is "envy..."
__________________
"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it."
Frederic Bastiat
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