I wonder if they've hired an executioner yet? I'v never operated a guillotine before ,I should imagine they are electric now. We will have to use plastic buckets nowadays nobody weaves head catching baskets.
America's bail out
- Thread starter B00Mer
- Start date
I wonder if they've hired an executioner yet? I'v never operated a guillotine before ,I should imagine they are electric now. We will have to use plastic buckets nowadays nobody weaves head catching baskets.
Yeah...by many future ex-congressmen and future ex-senators...and all their buddies.
450 pages- yep, that oughta be enough to keep 'em baffled by bullsh*t - folks haven't got time to stir up a ruckus if they're busy trying to decipher 450 pages of legalese about what everyone else is getting that they're not.
Send them all to 'gitmo' and throw them in with the iraqis, then sell tickets.
I imagine they should be. Modern guillotines should also be hydrolic like a clipper in a machine shop.
Right you are and there might be environmental concerns too; what to do with all those heads?
Maybe we could use brush shredders?
A lot of those loans had low "teaser" introductory rates too which made them even more appealing. A friend of mine had a 3.8% interest rate for the first year of her loan before it went to the regular ARM rate at the time. Now that the regular ARM rate is adjusting, she's in deep trouble. It's sad when you have to hope for a bunch of sick babies to be born so you can get your overtime and keep your home.
I guess living out here has shocked me a bit. The materialism I see is insane. Even when my parents came out to visit, they commented on the fact that there are more new cars on the roads here than they've ever seen anywhere before. It's nuts. Being a nurse is a regular job with a reasonable pay and I don't find it tough to live on my earnings. That said, I see a lot of my colleagues wearing Coach purses with their Channel sunglasses driving their BMWs to their $500K+ homes (then they complain about their credit card bills and the lease and mortgage payments). Apparently no one has ever told them that you shouldn't try to live a rock star's lifestyle on a nurse's salary. Now they're paying the price. I feel sorry for them because I like them, but it does bother me that so few seem to realize the role they played in creating the tough situation in which they find themselves. No one forced them to buy $300 handbags rather than starting an emergency fund or buy a house they couldn't afford rather than renting one they could. People who have lost their jobs or become ill have a legitimate excuse for their financial troubles, but what can you say for someone with a very secure job making more than 80K a year complaining?
but what can you say for someone with a very secure job making more than 80K a year complaining?
So long, thanks for all the fish.:smile:
So long, thanks for all the fish.:smile:
I still wonder what defines the majority of cases defaulting on mortgages:
1. greedy consumers buying homes they can't afford
2. teaser rates from ARMS which later went up --- thank you Tracy for that earlier post
3. looser credit guideliness at Freddie Mac and Fanny Mae
4. encouraging economic growth by looser credit thus expanding the money supply to keep up with the growth
5. Construction industry tanking because new home buying stopped
6. loss of jobs
When you look at the fact that half of Canadian and American workers earn 34k or less and truly are only 3 or 4 paychecks away from going bankrupt, it doesn't take much for a sour economy to get worse in a heartbeat.
And this bottom half earns so little that it supplies less than 3 percent of all federal income tax collected.
Two to four paychecks away from insolvency....
I don't think the vast majority of that bottom 50 percent was that hog heaven greedy.
1. greedy consumers buying homes they can't afford
2. teaser rates from ARMS which later went up --- thank you Tracy for that earlier post
3. looser credit guideliness at Freddie Mac and Fanny Mae
4. encouraging economic growth by looser credit thus expanding the money supply to keep up with the growth
5. Construction industry tanking because new home buying stopped
6. loss of jobs
When you look at the fact that half of Canadian and American workers earn 34k or less and truly are only 3 or 4 paychecks away from going bankrupt, it doesn't take much for a sour economy to get worse in a heartbeat.
And this bottom half earns so little that it supplies less than 3 percent of all federal income tax collected.
Two to four paychecks away from insolvency....
I don't think the vast majority of that bottom 50 percent was that hog heaven greedy.
Jim, I hope you're typing with your feet, you need both hands to bail, I'm surprised your not down on mainstreet giving some bank the rest of your money. It's just temporary though, soon as the econ picks up and gets better than ever they will pay you back 300 years is a good solid long term investment. There's more than one born every minute down there, hole in the ozone propably. The Land of Wholesome honest bankers.:lol:
I think it's all that Jim. I just think we overstate the issue of income sometimes. How much you spend really matters more than how much you make. Some of the people I work with are a perfect example of that. It used to be people actually saved the money for things before buying them. Now debt isn't seen as a big deal and our definition of basic needs have changed. When we need that DVD player, we can just put it on the credit card. Eventually those needs all come back to bite us in the butt. I'm the first to admit I've done it. I learned my lesson after paying those bills back over time.
Jimmoyer,
Here in this area of California the real issue was the Realtor and the Mortgage Broker both encouraging the prospective buyer to "take a chance." The housing market was going up so fast that some houses were sold within ninety (90) days of closing with a tidy profit. Most were speculators but many others were told that the value of the houses were increasing so fast that buying one (remember, Mortgage loans were being made with minimal backgrounds of buyers made) that they could refinance before the big balloon payment was due and then be OK. It didn't work. The bubble nurst and many found themselves in the position of just having to walk away from their dream house. The Mortgage Bankers didn't and still don't care. This new Rescue Bill will bail them out. It isn't a Rescue to me, it is a sell out of the American working person. And the baiting of buyers still isn't fully corrected either.
Here in this area of California the real issue was the Realtor and the Mortgage Broker both encouraging the prospective buyer to "take a chance." The housing market was going up so fast that some houses were sold within ninety (90) days of closing with a tidy profit. Most were speculators but many others were told that the value of the houses were increasing so fast that buying one (remember, Mortgage loans were being made with minimal backgrounds of buyers made) that they could refinance before the big balloon payment was due and then be OK. It didn't work. The bubble nurst and many found themselves in the position of just having to walk away from their dream house. The Mortgage Bankers didn't and still don't care. This new Rescue Bill will bail them out. It isn't a Rescue to me, it is a sell out of the American working person. And the baiting of buyers still isn't fully corrected either.
Normbc9, isn't the fact that the homebuyer gets to walk away from his debt a bail out in and of itself? He gets to walk away from everypenny he owes on his house.
If your not sinking and don't have to bail out the boat .You can enjoy the trip!!!
..If you think green ,and use that extra green to build your future ,cut your expenses.You will weather the storm and come out in a healthier and more positive position.It's far better Than trying to paddle up Shlick creak without a Pot to p in ! ......There are always ways out of rough waters!
..If you think green ,and use that extra green to build your future ,cut your expenses.You will weather the storm and come out in a healthier and more positive position.It's far better Than trying to paddle up Shlick creak without a Pot to p in ! ......There are always ways out of rough waters!
Casino's
Sorry ..I have a way for the U.S. to get out of their downturn....Do what the liberals did.....Open Casino's up everywhere and suck the money out of Gaming seniors!!...seems to be working here in Ontario!.....I think?...
Where does the money go??
Sorry ..I have a way for the U.S. to get out of their downturn....Do what the liberals did.....Open Casino's up everywhere and suck the money out of Gaming seniors!!...seems to be working here in Ontario!.....I think?...
Where does the money go??
Hopefully to where the OLG says it does.
Do we truly believe that 100% does ?
.....administration costs etc....
Yeah...I hear ya scratch.....Money is suppose to go to the communtiee for Infrastructure and some other programs???....I live 25 min away from 3 casino's ...The only roads that are any good...R the ones leading to the Casino!
Go to keep the loonies and toonies flowing....so keep the road in a good state of repair I always say ... oh and and a little on the side for expenses.