RE: Rove: Bad economy is "media`s" fault

RE: Rove: Bad economy is "media`s" fault (Full Version)

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Sinergy -> RE: Rove: Bad economy is "media`s" fault (2/16/2008 9:05:57 AM)
quote: ORIGINAL: TheHeretic Stalling foreclosures doesn't seem like the right course to me. It would be better in the long run, JIMHO, for the lenders to be penalized for allowing the homes to sit vacant and fall into disrepair. That will encourage them to both work with homeowners who can still save the house, and help prevent the neighborhood blight of abandoned properties. I am not sure I can think of anything the current administration has done which qualifies as the "right course" on any issue presented to it. The magnitude and scope of their incompetence is mind-boggling. The problem with allowing all those loans to foreclose is lending institutions take out bigger loans from bigger banking institutions and then reinvest it, etc. It is not just that one house falling into disrepair, it is the loss of income (read: mortgage payments) that lending institutions use to repay the loans they took out to loan the money to the homeowner. Letting them all be foreclosed on would shake the global economy. Which is not to say I think it shouldnt happen. I am simply pointing out that the outcome of not shoring it up might be less pleasant than shoring them it up. Actions have consequences. I think the most accurate description of the current administration and the last 6 Congressional years is "what happens when you give a bunch of people, who have no clue that actions have consequences, power to do or not do something?" Sinergy

bipolarber -> RE: Rove: Bad economy is "media`s" fault (2/16/2008 9:08:49 AM)
Yeah, Carl... it's the media's fault. It's the media's fault that your ex boss pushed an "ownership society" by dropping mortgage interest rates that allowed every fly by night lender to but some minimum wage folks in their own home. (Which they are now defaulting on, due to the balloon payments.) It's the media's fault that wages haven't kept up with cost of living. It's the media's fault that gasoline has tripled in price during President "junior's" reign. It's the media's fault that companies like Enron screwed millions out of their 401k's. It's the media's fault that the Bush tax cuts favored the incredibly wealthy, while the middle class was left holding the bag. It's the media's fault that Carl's ex-boss fought the Iraq war with money borrowed from China. ($450 billion +) It's the media's fault that "Junior" pissed away the Clinton budget surplus. (sure, we all got checks... but man, are we ever gonna pay for that in the long run.)

TheHeretic -> RE: Rove: Bad economy is "media`s" fault (2/16/2008 11:26:59 AM)
quote: ORIGINAL: Sinergy The problem with allowing all those loans to foreclose is lending institutions take out bigger loans from bigger banking institutions and then reinvest it, etc. It is not just that one house falling into disrepair, it is the loss of income (read: mortgage payments) that lending institutions use to repay the loans they took out to loan the money to the homeowner. All the more reason to prod these lenders into compromise and quick turnovers, instead of the current system. We looked at a few bank owned properties along the way, and the attitude seemed to be that they would rather have nothing than at least something.

Shawn1066 -> RE: Rove: Bad economy is "media`s" fault (2/16/2008 8:25:22 PM)
quote: ORIGINAL: thompsonx quote: ORIGINAL: Shawn1066 I think Rove has a point. People were thinking the economy was bad even when it was good, and now being constantly told we're heading into a recession...even when the jury is still out on that...it only makes things worse. DV's Fox Shawn: Should the urge strike you, you might google who owns the news outlets in this country and what their particular political stripe is. Of course we could simply censor all the news outlets and then those who are sleeping in their car or under a bridge will think it is only them and reach down and pull themselves up by their boot straps while wiping their ass with their copy of "Horatio Alger" since they cannot afford toilet paper.[;)] thompson I said something about politics? No. I just think in general the news likes to have a negative spin to most things. This is regardless of politics. I never said we should censor them either. Just to say that they don't affect the public is laughable. DV's Fox

Feric -> RE: Rove: Bad economy is "media`s" fault (2/17/2008 12:27:40 PM)
Karl Rove has as much knowledge about the economy as Bush does on civil liberties.

Sinergy -> RE: Rove: Bad economy is "media`s" fault (2/17/2008 6:18:17 PM)
quote: ORIGINAL: TheHeretic All the more reason to prod these lenders into compromise AnencephalyBoy, Clinton, and NAFTA offshored my job to Mexico and I cant pay the mortgage balloon payments for this property and I cannot refinance. Please clarify what the compromise is. quote: and quick turnovers, read: banks foreclosing on huge numbers of property, defaulting their loans to the upline banks, selling property off for whatever they can, dropping property values through the floor and leaving all the people in group one (the Compromisers) with a mortgage, and no job, on a property that is mortgaged 5-10x what the property can actually sell for. What you are basically saying is that the orgasm of people refinancing their homes under AnencephalyBoy has inflated property values far above what the house is actually worth, AnencephalyBoy offshoring jobs has made it so nobody has any money to buy property, and banks dumping property on the market further hastening the spiral into depression. There are no good outcomes, TheHeretic, much as those who have faith in the Dipshit in Chief would like to hope. Sinergy p.s. I will reiterate, these problems were foreseeable by anybody with half a functional brain. Unfortunately, when the Right took control of Congress and elected their village idiot, we ended up having nobody in power who actually had half a functional brain.

TheHeretic -> RE: Rove: Bad economy is "media`s" fault (2/17/2008 6:53:55 PM)
Sinergy, if you can find a house that has dropped 90% in value, buy it. Ever walked through a house that has been sitting in foreclosure? Even the best we looked at needed tens of thousands of dollars in repairs and maintenance. There was zero willingness to deal. An abandoned house is a bigger threat to a neighborhoods property values than a rental. Your concern for the well being of banks is touching though.

Owner59 -> RE: Rove: Bad economy is "media`s" fault (2/17/2008 7:03:44 PM)
quote: ORIGINAL: TheHeretic Sinergy, if you can find a house that has dropped 90% in value, buy it. Ever walked through a house that has been sitting in foreclosure? Even the best we looked at needed tens of thousands of dollars in repairs and maintenance. There was zero willingness to deal. An abandoned house is a bigger threat to a neighborhoods property values than a rental. Your concern for the well being of banks is touching though. It`s foolish to think it`s only banks who suffer. The buyer,the neighborhood and town,the bank and the nation as a whole suffer when homes are forclosed on. Everyone loses.

Sinergy -> RE: Rove: Bad economy is "media`s" fault (2/17/2008 7:13:52 PM)
quote: ORIGINAL: TheHeretic Sinergy, if you can find a house that has dropped 90% in value, buy it. No point yet. The market has not hit bottom. Sinergy p.s. What you seem to fail to understand is that I as a homeowner can list my house for whatever I think somebody will pay for it. This is not synonymous with my being able to sell the home for that price. p.p.s. While I understand you think I care about banks (I dont), I am simply pointing out that a bank has no market incentive to hold on to a property they have foreclosed on, and will drop the price drastically until it sells. Banks doing this on a big level negatively impacts the real estate market, and lenders defaulting on their upline loans negatively impacts upline lenders. I personally think the current crop of bail-outs and mortgage freezes is not done because this administration gives a damn about you or I, I think the current administration are protecting their investments in upline banking institutions. p.p.p.s. You can keep misinterpreting what I write all night, TheHeretic, but I am left wondering how you feel it is working out for you.

popeye1250 -> RE: Rove: Bad economy is "media`s" fault (2/18/2008 12:35:03 AM)
Evidently no-one told Carl Rove about these "outsourcing" deals disguised as "trade deals". Housing wise we're doing well here in Myrtle Beach. There's a lot of people moving into this area. I just sold my rental condo for $125k last week to a young couple from Albany, N.Y. I was asking $129k. Another sold for $129k 8 weeks ago to another couple from N.Y. And if you look at the big moving van cos S.C. is a "moving to" state unlike N.Y. which is considered a "Moving out of" state. They told me that 3 b/r 2 bath condos on a golf course like these would cost $6,000 in Real Estate taxes up in N.Y. I paid $378 last year for mine!

Sinergy -> RE: Rove: Bad economy is "media`s" fault (2/25/2008 8:19:23 AM)
Yahoo news announced this morning that home sales are at a 9 year low. Wonder when people will realize this is a bad thing for the US economy. Sinergy

Cdub2U -> RE: Rove: Bad economy is "media`s" fault (2/26/2008 2:06:35 PM)
quote: ORIGINAL: cyberdude611 The economy was actually much worse under Carter. You couldnt buy a mortgage with an interest rate that wasnt in double digits. Gas would be equivalent to $6 a gallon today. Inflation and unemployment were rising. Carter made many, many mistakes. The GOP could have ran a rag doll in 1980 and still won. Carter's economic policy was an absolute disaster. And if people only care about the Clinton economy....why isn't Hillary getting a boost from it? It seems the more she talks about the 90s the further she sinks in the polls. People are smart enough to know the Clinton economy was fueled by the Tech boom. It had little to do with Clinton's economic policies. I find the interest rate part amusing. I purchased my first home with the interest rate at 12%. As a frind of mine once told me, "fuck the price" can you afford the monthy payment?-- YES, I made a lot of money! The only "mistake" Carter made was not getting in bed with the Royal Family - the ones sitting on top of the oil. He ended up having OPEC turning aginst him and the Iranians taking back their country. (The Shaw of Iran [the dad] was not even an Irianian) With todays economy people can't even get a home loan.... in spite of single digit rates. Our government is eating up every penny that can be found... leaving very little for the consumer. But it is more complex than that... our economy is complex enough that no amount of discussion on this board will uncover even 30% of how it works. Gas at $6.00/gal. I think it would be a good thing... we would be driving the same way the folks in Europe drive (more than one person in the car - small cars). Oh, (LMAO) and Hummers would be a thing of the distant past! Hillary sinking in the polls has more to do with people identifying with a message of "HOPE & CHANGE", its the same thing that the B movie actor, I call the "Ray - Gun" used to move into the oval office. When thing look & smell like shit, people respond to that message.... I don't care who tells it! My .02 worth

Sinergy -> RE: Rove: Bad economy is "media`s" fault (2/26/2008 2:51:02 PM)
quote: ORIGINAL: Cdub2U I find the interest rate part amusing. I purchased my first home with the interest rate at 12%. For a $480,000 loan at 6%, you pay 4,212.34 a month,. For a $200,000 loan at 10%, you pay 1,755.14 a month. The house I traded my ex for no spousal support was $200k when we bought it, and at the height of the Dipshit in Chief's reign of error, it reappraised at $480K. People who rant about low interest rates never seem to comprehend that dropping interest rates inflates property values to make up the slack, all the while destroying the value of the US dollar. Sinergy

Sinergy -> RE: Rove: Bad economy is "media`s" fault (2/27/2008 4:44:05 PM)
Big day today. Yahoo announced that a large number of homeowners owe more than their homes are worth. Congress passed an $18B set of taxes on big oil companies, veto at 11. Sinergy

Owner59 -> RE: Rove: Bad economy is "media`s" fault (2/27/2008 5:49:29 PM)
For now, the priority is shoring up the economy, Bernanke suggested in an appearance before the House Financial Services Committee. He pledged anew to slice a key interest rate and help the economy, which many fear is on the verge of a recession, if not already in one. "The economic situation has become distinctly less favorable" since the summer, the Fed chief told lawmakers. http://kdka.com/national/bernanke.sluggish.economy.2.663917.html Is Federal Chairman Ben Bernanke part of the media?

mnottertail -> RE: Rove: Bad economy is "media`s" fault (2/27/2008 5:53:06 PM)
well thank fucking god we have found the cause of it, get the media to shut the fuck up and it will all be fine................nobody has to know.

farglebargle -> RE: Rove: Bad economy is "media`s" fault (2/27/2008 5:55:14 PM)
"For now"? They've been in panic mode for a while... And every week brings new horrors.

Sinergy -> RE: Rove: Bad economy is "media`s" fault (2/27/2008 5:57:18 PM)
Cutting interest rates spurs profligate borrowing. Which is one of the main reasons we got into this mess in the first place. Sinergy

mnottertail -> RE: Rove: Bad economy is "media`s" fault (2/27/2008 5:57:55 PM)
well, why you dont want to back the brilliant republican plan that says quit writing doom and gloom and it is fixed? its people like you that point out the emperor has no clothes and thats why we are 'losing the war' in Iraq.....you know, that big mother of all wars against terrorism. I blame it on an educated electorate, (and of course Carter). Just Sayin!!!!!

TheHeretic -> RE: Rove: Bad economy is "media`s" fault (2/27/2008 6:26:58 PM)
I heard today about a small but helpful step that is being taken in at least a couple hard-hit CA counties. Property tax assessments from the peak of the boom will be re-examined to reflect the drop in prices/values. For homeowners with property tax impound accounts, that could make a noticeable difference in monthly payments, and chop the twice a year bill for the rest.

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