View Full Version : Home prices fall 11.4 percent
This just in, U.S. home prices fall 11.4 percent. Gasoline expected to reach $4.00 soon. Health care costs continue their rise. College tuition rates going up again. Food costs continue rise. It becomes obvious the Republicans do not have the average workers interest in mind. Seems there only two types of Republicans, millionaires and suckers. :lol:
Low home prices = more opportunity for folks to buy houses. We were in a unique situation briefly where prices and interest rates were both low. What more could a home buyer ask for? Are you saying only the rich should be able to afford a new home?
Yesterday, home sales sky-rocketed. Keep the government out of it - the market will take care of itself.
I have noticed that gas prices has been forging upwards ever sine the dems took congress in 06. Even though they promised to lower them. Seems demoncrats area liars and failures.
lsbets
03-25-2008, 10:10 AM
Hmm a lame duck President with a hostile majority in Congress. What are Nancy and Harry doing to set things right? It seems that all the things ljb cited have gotten much worse since the 06 elections. This Congress appears to be the worst ever.
Years of Republican control and you guys try to pass the buck. Figures.
chickenhead
03-25-2008, 10:25 AM
This just in, U.S. home prices fall 11.4 percent.
Good.
The vast majority of working class Americans have the bulk of their wealth in their homes. If you think this is good, you must have been devastated when the stock market bubble burst.
Like I have said. The Republicans do not have the interests of working class Americans in their minds.
jonnielu
03-25-2008, 10:34 AM
This just in, U.S. home prices fall 11.4 percent. Gasoline expected to reach $4.00 soon. Health care costs continue their rise. College tuition rates going up again. Food costs continue rise. It becomes obvious the Republicans do not have the average workers interest in mind. Seems there only two types of Republicans, millionaires and suckers. :lol:
Get the government out of all of those businesses, and you will see changes take place. When has anyone, in or out of government had the average workers interests in mind?:lol: :lol: :lol:
jdl
The lack of government regulations is what has led us to this economy. The current conditions are similar to conditions in 1929 when we had Republicans promoting greed by the money men on wall street.
chickenhead
03-25-2008, 10:45 AM
The vast majority of working class Americans have the bulk of their wealth in their homes.
This vast majority of Americans have enjoyed a massive rise in the prices of their homes over the past 10 years. So much so, that the high numbers of people looking to become 1st time home buyers couldn't afford to buy homes without resorting to hair-brained financing schemes, evidenced by so many first time home buyers going belly up right now.
The prices became out of whack for what you are actually buying, and now they are correcting. You can't look at a price change in a vacuum and say it's bad, you have to look at where it came from.
If you think this is good, you must have been devastated when the stock market bubble burst.
Same thing, the stock market was way overpriced, it needed to come down.
If you buy something you either can't afford, or pay too much for, chances are good you're going to lose money. If you buy something that you both can't afford, and overpay for, it's almost a certainty you're going to lose money...that is the law of leverage. It has been this way since the beginning of time. Deal with it.
ljb deglects to tell us that demoncrats in the ocngress had been pressuring lending instutions to include more low income people in thier loans, talk about retribution, discriminatins, etc. Now that they complied, they get blasted for preditory lending!
ljb, ls is correct - your solution was to exclude many people from the housing market, huh? :lol::lol::lol:
This vast majority of Americans have enjoyed a massive rise in the prices of their homes over the past 10 years. So much so, that the high numbers of people looking to become 1st time home buyers couldn't afford to buy homes without resorting to hair-brained financing schemes, evidenced by so many first time home buyers going belly up right now.
Brought on by the un-regulated greedy money men on Wall Street.
The prices became out of whack for what you are actually buying, and now they are correcting. You can't look at a price change in a vacuum and say it's bad, you have to look at where it came from.
Same thing, the stock market was way overpriced, it needed to come down.
If you buy something you either can't afford, or pay too much for, chances are good you're going to lose money. If you buy something that you both can't afford, and overpay for, it's almost a certainty you're going to lose money...that is the law of leverage. It has been this way since the beginning of time. Deal with it.
I do not recall, in my lifetime, housing prices falling nationwide. Perhaps they did during the depression of the thirtys brought on by another Republican (Hoover) but I am not that old. The stock market has always gone up and down. Of course statistics prove the market does better under a Democratic administration.
Tom,
The predatory lending took place prior to the Democrats gaining control of congress. The lack of regulations caused by Republican control are similar to conditions in 1929. If somebody doesn't watch the greedy ones on wall street they will screw us and themselves blind.
jonnielu
03-25-2008, 10:56 AM
The vast majority of working class Americans have the bulk of their wealth in their homes. If you think this is good, you must have been devastated when the stock market bubble burst.
Like I have said. The Republicans do not have the interests of working class Americans in their minds.
Here is another news flash bulletin - The tooth fairy doesn't actually exist.
chickenhead
03-25-2008, 11:04 AM
Brought on by the un-regulated greedy money men on Wall Street.
Yes, fine. But you can't complain about both that, and falling housing prices. If you had a bunch of buyers in the market that shouldn't have been there, bidding prices up...and now that has stopped...that is a good thing. It shouldn't have happened in the first place, and now it has stopped. Good.
The natural effect of that is falling prices. You can't have it both ways. Be glad the funny money has stopped, finally, and accept falling home prices as the effect of taking that money out of the system. It shouldn't have been there in the first place.
So, like I said earlier......GOOD.
Robert Goren
03-25-2008, 11:05 AM
Housing prices fell during the late 70's early 80's. It caused most the saving-and-loans to go out business including one in which a Bush brother was involved with.
Lefty
03-25-2008, 11:26 AM
lbj, the housing mkt and the stock mkt is constantly in a state of flux; always up and down. Real Estate and the Stock Mkt skyrocketed to new heights during Bush Admin. You guys never gave Bush credit so how come you wanna laythe blame at his door? Real Estate will go up again. The people that bght a house they can afford, to livein, can just live in it till it goes up.
In Vegas they are predicting a Housing Shortagein 2 yrs. Think Real Estate might go back up? Hmmmm?
Bubba X
03-25-2008, 11:51 AM
The vast majority of working class Americans have the bulk of their wealth in their homes. If you think this is good, you must have been devastated when the stock market bubble burst.
Like I have said. The Republicans do not have the interests of working class Americans in their minds.
So what if the vast majority have their wealth tied up in their homes? Any real evaluation of "net worth" or "wealth" ALWAYS excludes the primary residence.
The stock market bubble burst? So what. It happens.
Working class Americans? Give them some credit. At least most of them.
Just because somebody wants to loan you $400,000 on an annual income of $50,000 doesn't mean it is a smart thing to do.
Is it?
Lefty
03-25-2008, 11:54 AM
lbj, if memory serves, Real Estate spiked in the 80's and came back to reality in the 90's. This is what's happening now. Alot of investors looking to make quick profits have been hardest hit. Homeowners who are losing their homes are mostly the ones who bght more house than they could afford. So don't blame the government for idividual irresponsibility.People who bght what they could afford and plan to live in house for years will be ok.
Marshall Bennett
03-25-2008, 12:30 PM
The vast majority of working class Americans have the bulk of their wealth in their homes. If you think this is good, you must have been devastated when the stock market bubble burst.
Like I have said. The Republicans do not have the interests of working class Americans in their minds.
From what study do you conclude that most working class Americans have the bulk of their wealth in their homes ? I suppose the democrats are only concerned with the working class ( you suggest republicans are not ) . With all the attention they give to minorities and special interest , how much could be left over for working class . I think you have your partys ass backwards !! :cool:
skate
03-25-2008, 05:39 PM
The vast majority of working class Americans have the bulk of their wealth in their homes. If you think this is good, you must have been devastated when the stock market bubble burst.
Like I have said. The Republicans do not have the interests of working class Americans in their minds.
The vast majority of households, States and Counties have stock and 401s, which are invested in the Oil Co.
Exxon alone paid $27 Billion of your taxes, they must be devastated.
So, if you sell some stock/401, it's your time to invest in real estate. so, don't forget to thank uncleGeorge.
If they didnt go and remove Banking Controls from the industry, back in 99/2000, UncleGeorge wouldn't have to be cleaning up the mess from last administration.
Lefty
03-25-2008, 06:01 PM
The vast majority of households, States and Counties have stock and 401s, which are invested in the Oil Co.
Exxon alone paid $27 Billion of your taxes, they must be devastated.
So, if you sell some stock/401, it's your time to invest in real estate. so, don't forget to thank uncleGeorge.
If they didnt go and remove Banking Controls from the industry, back in 99/2000, UncleGeorge wouldn't have to be cleaning up the mess from last administration.
Thanks for prodding my memory of them removing banking controls.
The problem began in the 1980s, when -- under political pressure from the banking industry -- the Reagan administration and Congress stopped regulating the nation's financial institutions. Commercial banks and savings-and-loans used their political clout -- especially campaign contributions -- to get Congress to loosen restrictions on the kinds of loans they could make.
One of government's important roles is to establish ground-rules, and to regulate companies and industries, to save them from their own short-sighted greed. Government is necessary to make business act responsibly. Without it, capitalism becomes anarchy.
pandy
03-25-2008, 10:33 PM
This just in, U.S. home prices fall 11.4 percent. Gasoline expected to reach $4.00 soon. Health care costs continue their rise. College tuition rates going up again. Food costs continue rise. It becomes obvious the Republicans do not have the average workers interest in mind. Seems there only two types of Republicans, millionaires and suckers. :lol:
I agree the economy sucks but if you want to blame politicians you should blame both parties. You seem to love the Democrats but they haven't done a thing to help the economy in years. And please don't insult our intelligence by saying that Clinton was good for the economy, he got lucky because of the Tech explosion, which he had nothing to do with.
pandy
03-25-2008, 10:38 PM
So what if the vast majority have their wealth tied up in their homes? Any real evaluation of "net worth" or "wealth" ALWAYS excludes the primary residence.
The stock market bubble burst? So what. It happens.
Working class Americans? Give them some credit. At least most of them.
Just because somebody wants to loan you $400,000 on an annual income of $50,000 doesn't mean it is a smart thing to do.
Is it?
There's no question that the Banks messed up by being too lenient on loans, which not only resulted in foreclosures but also pushed the price of real estate and sellers expectations too high. I don't know how those 1,500 sq foot $500,000 3-bedroom ranches get appraised high enough to warrant the mortgage.
jballscalls
03-26-2008, 12:21 AM
Home prices had to come down. In Seattle over the last ten years, the prices of houses have skyrocketed while the supply has also greatly increased. So now you have many overpriced homes staying on the market for way to long, and people trying to sell them that paid too much.
I'm so happy i sold in early 2006, cause shortly afterward the market went capoot. still cant believe what people are paying there for a house. you have to make 6 figures to afford a decent place now.
PaceAdvantage
03-26-2008, 01:32 AM
Gasoline expected to reach $4.00 soon.Actually OIL has been falling like a rock lately....under $100 today, don't know where it closed....
Must be those crafty Republicans pulling another price break in anticipation of November 2008....
The problem began in the 1980s, when -- under political pressure from the banking industry -- the Reagan administration and Congress stopped regulating the nation's financial institutions. Commercial banks and savings-and-loans used their political clout -- especially campaign contributions -- to get Congress to loosen restrictions on the kinds of loans they could make.
Yes, and it was democrat congress back then.;)
rastajenk
03-26-2008, 07:36 AM
One of government's important roles is to establish ground-rules, and to regulate companies and industries, to save them from their own short-sighted greed. The liberal/progressive manifesto in one sentence. To paraphrase an adage about education: those who can't, regulate.
Government is necessary to make business act responsibly. Without it, capitalism becomes anarchy.So why do anarchists hate capitalists? Seems like they share common cause.
King Ritchie
03-26-2008, 10:42 AM
This just in, U.S. home prices fall 11.4 percent. Gasoline expected to reach $4.00 soon. Health care costs continue their rise. College tuition rates going up again. Food costs continue rise. It becomes obvious the Republicans do not have the average workers interest in mind. Seems there only two types of Republicans, millionaires and suckers. :lol:
AM I missing something here?
The last time I looked we had a "Do-Nothing" Democrat Congress.
Can you imagine how bad it will be if we also get a naive and inexperienced Democratic President?
chickenhead
03-26-2008, 10:59 AM
The liberal/progressive manifesto in one sentence. To paraphrase an adage about education: those who can't, regulate.
So why do anarchists hate capitalists? Seems like they share common cause.
Regulation and rule of law is necessary for investment. There are plenty of completely unregulated markets around, black markets the world over. They do work, just not very well, nowhere near as well as our regulated markets.
Government enforcement of property rights, contract law, etc, is an absolute necessity for capitalism to work. I.E. Capitalism requires certain kinds of regulation to work its full magic. Opposed to anarchist philosophy.
AM I missing something here?
The last time I looked we had a "Do-Nothing" Democrat Congress.
Can you imagine how bad it will be if we also get a naive and inexperienced Democratic President?
Yes you are missing something. Bushco and veto.
Nothing can be worse then the last 7 years.
Originally Posted by ljb
This just in, U.S. home prices fall 11.4 percent. Gasoline expected to reach $4.00 soon. Health care costs continue their rise. College tuition rates going up again. Food costs continue rise.
Cheaper homes means more availability for people to buy.
Gasoline is more expensive in many other countries. Don't forget the libs have blocked developing our own oil fields, building new refineries, and demanind all the enviro-wacko blends that inhibit limited refinery capacity.
Health costs area not controlled by the governement.
College tutions area not controlled by governement, but let on damn lib in the WH and this nonsense talk about free tution for certain levels, then just watch the agregate tutions go through the roof. If the gov'nt is paying for it, there will no incentive not to raise tutitions.
Food cost continue to rise because the high cost of oil ( libs fault) is increasing delivery costs, and this using food sources for fool-hardy alternative fuels is causing the cost of making food sky rocket.
Let's review, for those of you in Rio Lindo or in Blue states.....libs have about destroyed our economy and they aren'teven in full control yet. Let this be a lesson.
Cheaper homes means more availability for people to buy.
Gasoline is more expensive in many other countries. Don't forget the libs have blocked developing our own oil fields, building new refineries, and demanind all the enviro-wacko blends that inhibit limited refinery capacity.
Health costs area not controlled by the governement.
College tutions area not controlled by governement, but let on damn lib in the WH and this nonsense talk about free tution for certain levels, then just watch the agregate tutions go through the roof. If the gov'nt is paying for it, there will no incentive not to raise tutitions.
Food cost continue to rise because the high cost of oil ( libs fault) is increasing delivery costs, and this using food sources for fool-hardy alternative fuels is causing the cost of making food sky rocket.
Let's review, for those of you in Rio Lindo or in Blue states.....libs have about destroyed our economy and they aren'teven in full control yet. Let this be a lesson.
food costs
ethanol subsidies and increased usage were passed overwhelming in Congress by both sides.
I think if you will take a look at the states that benefit from that there won't be any DIm in that list.
cheaper homes
this also means many that got in too close to the top are now under water and thus will not have anymore equity to use and lots will have to give up the home.
Lower prices will follow which have the potential to wipe out more of the older stable payers.
This was brought on by foolish speculation and to some extent by the "feeling" in this country from both idiotic parties that home ownership is a god given RIGHT and not something one should work for and have skin in the game on.
Oil- nothing to do with any of the goofy drilling and or refinery blather.
We shoud have had a by-partisan energy plan in place for the last 10 years at least.
The failure to do that signals to me, the basic weakness of this country going forward and it will lead to a 2nd world standard of living for most in the next 10-15 years if not sooner.
A large degree of the population already have this standard in some parts of the country.It is accelerating while we whine about endless gossip and false choices.
Oil- nothing to do with any of the goofy drilling and or refinery blather.
We shoud have had a by-partisan energy plan in place for the last 10 years at least.
Of coures it does!
We do not have a bi-partisan plan becasue dems will not face reality on this. We have oil here and we need to drill for it, we need new refineries here, and we need new nuke plants here.
End of story. Libs are roadblocks to energy independence.
skate
03-26-2008, 03:56 PM
The problem began in the 1980s, when -- under political pressure from the banking industry -- the Reagan administration and Congress stopped regulating the nation's financial institutions. Commercial banks and savings-and-loans used their political clout -- especially campaign contributions -- to get Congress to loosen restrictions on the kinds of loans they could make.
One of government's important roles is to establish ground-rules, and to regulate companies and industries, to save them from their own short-sighted greed. Government is necessary to make business act responsibly. Without it, capitalism becomes anarchy.
LBJ;
You gots to be kidding. Look. post one of these,:lol: please.
Oh, OMG, this is goooooooood!;)
Since we refer to the present situation, which reflects the most recent Removal of Bank Controls, could ya Splacifidize this Problem.
And please, do not include "the Red Man".:D
Ah, the good old days of unregulated greed.
Capitalism and the great Era of The Transcontinental Railroad....
http://www.historyisaweapon.com/defcon1/zinnbaron11.html
"J. P. Morgan had started before the war, as the son of a banker who began selling stocks for the railroads for good commissions. During the Civil War he bought five thousand rifles for $3.50 each from an army arsenal, and sold them to a general in the field for $22 each. The rifles were defective and would shoot off the thumbs of the soldiers using them. A congressional committee noted this in the small print of an obscure report, but a federal judge upheld the deal as the fulfillment of a valid legal contract.
Morgan had escaped military service in the Civil War by paying $300 to a substitute. So did John D. Rockefeller, Andrew Carnegie, Philip Armour, Jay Gould, and James Mellon. Mellon's father had written to him that "a man may be a patriot without risking his own life or sacrificing his health. There are plenty of lives less valuable."
....It was the firm of Drexel, Morgan and Company that was given a U.S. government contract to float a bond issue of $260 million. The government could have sold the bonds directly; it chose to pay the bankers $5 million in commission.
On January 2, 1889, as Gustavus Myers reports:
... a circular marked "Private and Confidential" was issued by the three banking houses of Drexel, Morgan & Company, Brown Brothers & Company, and Kidder, Peabody & Company. The most painstaking care was exercised that this document should not find its way into the press or otherwise become public.... Why this fear? Because the circular was an invitation ... to the great railroad magnates to assemble at Morgan's house, No. 219 Madison Avenue, there to form, in the phrase of the day, an iron-clad combination. ... a compact which would efface competition among certain railroads, and unite those interests in an agreement by which the people of the United States would be bled even more effectively than before.
There was a human cost to this exciting story of financial ingenuity. That year, 1889, records of the Interstate Commerce Commission showed that 22,000 railroad workers were killed or injured.
In 1895 the gold reserve of the United States was depleted, while twenty-six New York City banks had $129 million in gold in their vaults. A syndicate of bankers headed by J. P. Morgan & Company, August Belmont & Company, the National City Bank, and others offered to give the government gold in exchange for bonds. President Grover Cleveland agreed. The bankers immediately resold the bonds at higher prices, making $18 million profit.
A journalist wrote: "If a man wants to buy beef, he must go to the butcher.... If Mr. Cleveland wants much gold, he must go to the big banker."
....And so it went, in industry after industry-shrewd, efficient businessmen building empires, choking out competition, maintaining high prices, keeping wages low, using government subsidies. These industries were the first beneficiaries of the "welfare state." By the turn of the century, American Telephone and telegraph had a monopoly of the nation's telephone system, International Harvester made 85 percent of all farm machinery, and in every other industry resources became concentrated, controlled. The banks had interests in so many of these monopolies as to create an interlocking network of powerful corporation directors, each of whom sat on the boards of many other corporations. According to a Senate report of the early twentieth century, Morgan at his peak sat on the board of forty-eight corporations; Rockefeller, thirty-seven corporations.
Meanwhile, the government of the United States was behaving almost exactly as Karl Marx described a capitalist state: pretending neutrality to maintain order, but serving the interests of the rich. Not that the rich agreed among themselves; they had disputes over policies. But the purpose of the state was to settle upper-class disputes peacefully, control lower-class rebellion, and adopt policies that would further the long-range stability of the system. The arrangement between Democrats and Republicans to elect Rutherford Hayes in 1877 set the tone. Whether Democrats or Republicans won, national policy would not change in any important way.
DJofSD
03-26-2008, 05:05 PM
This just in, U.S. home prices fall 11.4 percent. Gasoline expected to reach $4.00 soon. Health care costs continue their rise. College tuition rates going up again. Food costs continue rise. It becomes obvious the Republicans do not have the average workers interest in mind. Seems there only two types of Republicans, millionaires and suckers.
U. S. home prices fall 11.4 percent -- source, please. The current crisis in the housing market and investment banks centers primarily, not exclusively, in 11 markets nationwide. Some markets not a part of those 11 epicenters are now starting to look better.
11% compared to when, a year ago, when the market was overheated?
Gasoline will likely hit $4/gal where I live this summer. Will it reach that as a national average, I doubt it. Part of the problem here in California is twofold: seasonal gasoline dictated by the know-nothing state legislator some years back, and, no new refineries in over 20 years.
The cost of food is out of wack directly because Congress got hoodwinked by the chicken little's of the global warming sect.
You can partially lay the blame for the current state of economic affairs at the feet of the Republicans. But don't try to put all the blame on them. It takes two to tango and in this dance, the other partner are the dim-rats. Oh, yes, then there's the average American consumer who only needs to look in the mirror to know who actually is at the root of a lot of economic and political changes that have resulted in all of these ill-winds with more to come.
Lefty
03-26-2008, 06:21 PM
Yes you are missing something. Bushco and veto.
Nothing can be worse then the last 7 years.
Sure it can. The next 4 with either of the dims as Pres.
lbj, EXACTLY how have you suffered the last 7 yrs?
DJofSD
03-26-2008, 06:42 PM
Nothing can be worse then the last 7 years.
B. S.
You obviously forgot about the Carter years -- U. S. Marines dies, hostages held until Reagan enters office, energy shortages, high inflation, etc.
You have just got a selective memory. Or your head is protected from the sun.
Ok, it may be photoshopped, but gotta love the sentiment..
http://www.bartcop.com/banking-regs.jpg
Carter = misery index.
It was so bad, we had to come up with an index! :eek:
"......parlty cloudy in the afternoon, and it will really suck bad all night!"
Cost of diesel fuel is going through the roof.
This will drive up prices on everything.
JustMissed
03-27-2008, 11:15 AM
Hcap, you expend a lot of effort to post here.
If you are posting for entertainment purposes that is fine but if you think you are going to change the thinking any right-wingers here you are sadly mistaken.
When confronted with the facts they either ridicule you or your avatar. They present no facts to dispute that they are systematically being robbed, raped and murdered by BUSHCO. It almost seems that they enjoy it. Could they all be lemmings and dull-minded, I hope not.
This was just reported today:
"Source: The Oregonian
A newly surfaced memo from banking giant JPMorgan Chase provides a rare glimpse into the mentality that fueled the mortgage crisis. The memo's title says it all: "Zippy Cheats & Tricks."
It is a primer on how to get risky mortgage loans approved by Zippy, Chase's in-house automated loan underwriting system. The secret to approval? Inflate the borrowers' income or otherwise falsify their loan application.
. . .
Chase, the nation's second-largest bank, originates mortgage loans itself but also operates a wholesale arm that underwrites and funds loans brought to them by a network of mortgage brokers. The "Cheats & Tricks" memo was instructing those brokers how to get difficult loans approved by Zippy. "
Do you think these guys give a shit? NO.
JM
p.s. If anyone does not believe that the American people are going to get stuck with the bill for the housing debacle, they are sadly mistaken.
JustRalph
03-27-2008, 01:01 PM
and this Memo was written by President Bush I suppose?
http://justralph.com/dems_win.jpg
skate
03-27-2008, 04:44 PM
Raise the minimum wage and you'll get inflation, also a higher unemployment.
Skate says the Min. wage should be $47.50, plus cost of living.:cool:
Says so in my Book, yeh baby,
JustMissed Hcap, you expend a lot of effort to post here.
If you are posting for entertainment purposes that is fine but if you think you are going to change the thinking any right-wingers here you are sadly mistaken.
When confronted with the facts they either ridicule you or your avatar. They present no facts to dispute that they are systematically being robbed, raped and murdered by BUSHCO. It almost seems that they enjoy it. Could they all be lemmings and dull-minded, I hope not. Some have even put me on ignore. :lol: Sort of fun and yes entertainment.
When I have time I post and enjoy
However their time has come and gone. Even if McSame wins the general it appears there will be a veto-proof democratic majority in 2008.
The myths of the Iraq War and those few still providing knee-jerk support will eventually give way to realism. Let them wallow all they want while they still can. Meanwhile they are in the ever diminishing 28 or 29% of Bushco supporters. The rest of the country has moved on.
BTW, you seem to have your share of the same mindless responses as well.
and this Memo was written by President Bush I suppose?
http://justralph.com/dems_win.jpg
No but in your photoshopped rendition..
1- Prescott Bush sold the protest signs
2- Barbara Bush was heard remarking poverty builds character and self reliance
3- George W Churchill thought those were romantic times and would have loved to eat in soup kitchens, but had other pressing dinners to attend.
4-And last but not least, Dickhead Cheney consoled Georgie for all his pain and suffering watching destitute citizens comforting their hungry children.
Raise the minimum wage and you'll get inflation, also a higher unemployment.
Skate says the Min. wage should be $47.50, plus cost of living.:cool:
Says so in my Book, yeh baby,
Yeah write a book skate. Try not to use the alphabet too much.
We wouldn't want to confuse your readership with the written word.
U. S. home prices fall 11.4 percent -- source, please. The current crisis in the housing market and investment banks centers primarily, not exclusively, in 11 markets nationwide. Some markets not a part of those 11 epicenters are now starting to look better.
11% compared to when, a year ago, when the market was overheated?
Gasoline will likely hit $4/gal where I live this summer. Will it reach that as a national average, I doubt it. Part of the problem here in California is twofold: seasonal gasoline dictated by the know-nothing state legislator some years back, and, no new refineries in over 20 years.
The cost of food is out of wack directly because Congress got hoodwinked by the chicken little's of the global warming sect.
You can partially lay the blame for the current state of economic affairs at the feet of the Republicans. But don't try to put all the blame on them. It takes two to tango and in this dance, the other partner are the dim-rats. Oh, yes, then there's the average American consumer who only needs to look in the mirror to know who actually is at the root of a lot of economic and political changes that have resulted in all of these ill-winds with more to come.
Here's a link for you.
It has the home price angle about right.
If I could enforce a "law" as king for a day, it would be that everyone accept that the price of their home is now , today, worth 15% less than yesterday.
That would fix all the housing issues and is the main problem with the gvt trying to prop up or fix or set or fake or design or bail out anyone.
False hope is a dangerous thing.
bailouts of this type of market only prolong the agony.
there was MASSIVE unregulated fraud in this home deal and the sooner that is purged the better.
This is the result of wild , I would say deranged credit availablilty to those who should never have had it and obvioulsy could not deal with the amounts that were being GIVEN to them.
Of course most all the profits from these fraud deals have already been socked away by the very same ones that made them in the first place.
Thus to bail out the past profits by preventing current failures is something I am deadset against.
I think I am among the last 5% of the country that feels this way it seems.
http://www.nytimes.com/2008/03/26/business/26leonhardt.html?_r=1&oref=slogin
Oh, on the 4.00 gas , this will be something you will be trying to convince yourself was ever true.
One way for this to go in the med-long run, with or without drilling and refinery and that's UP UP UP.
Neither party can control it.
The cost of food is out of whack , because there are about a Billion more consumers that can afford their share of the "food".
Also, rampant speculation in commodity markets has "unhinged" the costs there by about 20% I think.
Nothing to do with global whatever, unless you get a bad crop year somewhere.
Most of the forces at work now and for the last decade are almost totally out of any one nations(much less our Congress) control.
We are more and more just along for the ride.
skate
03-28-2008, 03:26 PM
Thanks for prodding my memory of them removing banking controls.
Also, one more memory that the Neolibs keep passing on (what's new), remember "ACORN" Comminity Reinvestment Act. 1995.
Actually started, maybe about 1977. before UncleGeorge was born.
The idea being, give all Americans the chance to own a home. OK, now what?
Well at least they are consistent, cry cry cry.
Not one problem, even Katrina, that has not been in the making before UncleGeorge came along to stem the tide.
PaceAdvantage
03-29-2008, 02:39 AM
No but in your photoshopped rendition..
1- Prescott Bush sold the protest signs
2- Barbara Bush was heard remarking poverty builds character and self reliance
3- George W Churchill thought those were romantic times and would have loved to eat in soup kitchens, but had other pressing dinners to attend.
4-And last but not least, Dickhead Cheney consoled Georgie for all his pain and suffering watching destitute citizens comforting their hungry children.I suppose this qualifies as a "non-mindless" response, contrary to what you wrote about earlier? :rolleyes:
Physician, heal THYSELF!
PaceAdvantage
03-29-2008, 02:41 AM
When confronted with the facts they either ridicule you or your avatar. They present no facts to dispute that they are systematically being robbed, raped and murdered by BUSHCO. It almost seems that they enjoy it. Could they all be lemmings and dull-minded, I hope not.Typical far-left liberal elitism in action.
"They don't agree with me, so they must be mindless, ignorant idiots."
Robbed, raped and murdered, eh? Like Hcap above, does your post also qualify as "non-mindless?"
Do you ever read your own stuff, or are you on automatic pilot at this point?
I suppose this qualifies as a "non-mindless" response, contrary to what you wrote about earlier? :rolleyes:
Physician, heal THYSELF!
You conveniently forgot Ralphs' question....
Originally Posted by JustRalph
and this Memo was written by President Bush I suppose?
http://justralph.com/dems_win.jpg
Just elaborating.....
Look at all dese stinkin' lazy shiftless welfare queens.
Get a haircut hippy!!!
Get a job like da rest of us!!
http://www.msnbc.msn.com/id/23831591/
Investment firms tapping Fed for billions
They’re averaging $32.9 billion in daily borrowing during past week
The Fed, for the first time, agreed on March 16 to let big investment houses temporarily get emergency loans directly from the central bank. This mechanism, similar to one available for commercial banks for years, will continue for at least six months. It was the broadest use of the Fed's lending authority since the 1930s.
http://www.bartcop.com/mortgage-lesson.gif
lsbets
03-29-2008, 08:35 AM
Typical far-left liberal elitism in action.
"They don't agree with me, so they must be mindless, ignorant idiots."
Robbed, raped and murdered, eh? Like Hcap above, does your post also qualify as "non-mindless?"
Do you ever read your own stuff, or are you on automatic pilot at this point?
PA - that's BSs new MO since he graduated internet troll school - post crap, have someone demonstrate how what he posted is crap - and then say anyone who doesn't buy his crap is a mindless idiot. BS has quickly risen to the top 3 nonsense posters on the board. I think he got a Masters in trolling!
lsbets
03-29-2008, 08:42 AM
Hcap - this might shock you, but there is a lot of truth in your cartoon and I do not agree with the folks who want to blame the borrowers without blaming the lenders. People applied for loans, they got approved for loans they should not have been approved for. That is the fault of the lenders and they should not be bailed out. Unfortunately, our government - both parties - prefers that we spend our lives in debt to lenders, almost indentured servants to lenders -thats why you get pre approved credit cards in high school, the first thing someone gets after bankruptcy is credit offers (they have a clean slate, so the offers pour in), student loans that take 20 years to repay, and the borrowers cannot walk away from their debt, yet the government will bail out the lenders who made loans they never should have. But, if you think only one party sets things up like that, you would be very wrong - both parties do. Do you remember how hard it used to be to get credit? I think my 6 year old could get a card now if he wanted to.
prospector
03-29-2008, 08:55 AM
yea,yea....times are tough
housing prices down...great, now i can afford the second winter home in laughlin, nv because of that and lower mortgages...no problem to me...its an advantage to be taken
gas prices have made rv sales dropping like a rock..i can now get a new rv for $35,000 off list price..another advantage to be taken...
hell, i'll do my part to get the economy going again...
stop bitching and buy something..
Ls... People applied for loans, they got approved for loans they should not have been approved for. That is the fault of the lenders and they should not be bailed outThe free market has worked well for many years. However if unchecked, greed-a normal human trait-succeeds in accumulating much power in comparatively few hands. And if there is a revolving door between government and those centers of power those centers acquire astronomical welfare checks from uncle Sam. Trust busting was a reaction to robber barons robbing the general commonwealth back in the early 20th century and late 19th.
Watch Frank Capras' It’s A Wonderful Life. Two opposing generations of capitalism.
George Bailey, and Henry Potter. I wonder if Adam Smith would support the non caring coldness of Potter over the humanitarian banking practices of George Baily?
"It’s A Wonderful Life warns that a predatory capitalism could prevail unless regular Americans reconcile the tension between self-interest and the communal spirit--each with a grip on our national consciousness."
Anyway, about Adam Smiths' The Theory of Moral Sentiments.
"In the 17C historians and essayists wrote 'characters', and philosophers wrote treatises on 'the passions' (i.e. on the emotions). There were attempts by Hobbes and others (Mandeville) to reduce apparently altruistic behaviour to disguised egoism, and attempts by their critics to show that this reduction was impossible, that there are in human nature other emotions or feelings besides the selfish ones. Adam Smith with his friend David Hume belonged to the anti-egoist school. The very first sentence of the book: 'How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it except the pleasure of seeing it'. (Of course the pleasure it takes in seeing the happiness of others, even when we expect to get nothing else from it, is not evidence of selfishness - as if we wanted them to be happy so that we could get pleasure - but evidence that we do care about their happiness).
So let me get this lib philosophy right...high prices are bad, but if they ever drop, it is worse?
Why, that sound libdiculous.
Lefty
03-29-2008, 11:32 AM
Tom, with the libs it's always a lose lose situation.
bigmack
03-29-2008, 12:40 PM
"It’s A Wonderful Life warns that a predatory capitalism could prevail unless regular Americans reconcile the tension between self-interest and the communal spirit--each with a grip on our national consciousness.
Further inquiry into your source reveals:
Democrats currently lined up to challenge Bush seem equally reluctant to campaign against America Inc. The few prominent George and Mary Baileys of today (Ralph Nader, Arianna Huffington, Dennis Kucinich et. al.) are relegated to the margins, while the attitudes of an early twentieth century Republican-- who once called the rich and well born "malefactors of great wealth"-- are as passe as Frank Capra. So too the words of Eugene V. Debs, who insisted that "money constitutes no proper basis for civilization." All of the above makes the enduring popularity of It’s A Wonderful Life something of a curiosity and at the same time a ray of hope. In any case, I know what I want from Santa Claus this Christmas. I want Capra's civic mindedness, and critique of the rich and wellborn worked back into the fabric of the culture. Perhaps then we can revitalize our struggle for all to have a wonderful life.
Nader, Huffington & DennyK are the GeoBaileys of today? What's Teddy Kennedy - Chris Cringle? :lol::lol::lol:
http://hnn.us/articles/1846.html
yea,yea....times are tough
housing prices down...great, now i can afford the second winter home in laughlin, nv because of that and lower mortgages...no problem to me...its an advantage to be taken
gas prices have made rv sales dropping like a rock..i can now get a new rv for $35,000 off list price..another advantage to be taken...
hell, i'll do my part to get the economy going again...
stop bitching and buy something..
Exactly the wrong approach for this country, normally one would stop digging.
Maybe better to say stop bitching and BUILD something.
On the rv front, there's more behind that than just gas prices,that market has been cut back in the downturn, people on the cusp can't justify the outlay, I would hold out another 3-4 months.
BigmackNader, Huffington & DennyK are the GeoBaileys of today? What's Teddy Kennedy - Chris Cringle?
The entire article I quoted from that bigmack is chuckling about...
http://hnn.us/articles/1846.html
More...
"Capra's critique of big money capitalists is all but lost in today's mainstream culture. Instead of people's heroes, our culture displays a steady menu of the "greed is good" ethos of ABC's John Stossel, the Social Darwinism of "Survivor"and the mean spirited, though now somewhat blemished conservatism, of Rush Limbaugh and Bill "one armed bandit" Bennett.
America seems to have lost its stomach for a sustained critique of the rampant pursuit of personal wealth over civic responsibility. This is as much so politically as culturally. Our current president gives huge tax breaks to the wealthiest 1 percent under the cynical banner of "fairness" to all taxpayers. Indeed, the most visible "George" of our time has come a long way from Bedford Falls."
So BM, welcome to Pottersville.
Lefty
03-29-2008, 06:17 PM
I'm sorry, but i think the 3 "saviors" you mention are plain idiots. Huffing ton especially as she runs one of the most hateful websites on the net.
Continue to blame the rich for all your probs and you'll always have probs.
That's my take.
Hey Lefty, you mean these three guys?
XxV670IPNfA
rastajenk
03-30-2008, 02:07 AM
The Social Darwinism glibly linked to Survivor is more accurately associated with the progressivism towards utopian societies of 100 years ago: those that can't keep up with contributing towards an efficiently egalitarian society must be winnowed out, or disposed of. See eugenics, death camps, forced sterilizations, etc. The notion that cutthroat capitalism is the Holy Grail of conservatism is a falsity projected by libs with a darker history than they will ever admit to.
skate
03-31-2008, 07:56 PM
The problem began in the 1980s, when -- under political pressure from the banking industry -- the Reagan administration and Congress stopped regulating the nation's financial institutions. Commercial banks and savings-and-loans used their political clout -- especially campaign contributions -- to get Congress to loosen restrictions on the kinds of loans they could make.
One of government's important roles is to establish ground-rules, and to regulate companies and industries, to save them from their own short-sighted greed. Government is necessary to make business act responsibly. Without it, capitalism becomes anarchy.
This might be a good example for JustlyRalph.
Instead of me calling LBJ a Nit Wit, lier or something else repulsive, i'll try going around like this...
LBJ, in 1977 Acorn was developed. this was done in order to help the people who could not afford a house.
Rules were changed from then until 1999 the last year in which Banking rules were removed. Now we have a problem and some want to blame Pres. Bush.
Also, let me say, States have a large control on this mater, but we have to blame President Bush. fine, but that means you do not see the real problem.
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