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Economy.... - Page 2

post #51 of 71
3/14/08 at 4:51pm
Quote:
Originally Posted by The LD View Post
Let's do the dance again!
LD, are you sure you really want to get into this again? It'll bring Issy out of the woodwork again, Sidious will continue to spout Ron Paul rhetoric and propaganda and you'll end up banging your head so hard against their irrationality that it'll feel like a boilermaker hangover.
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post #52 of 71
3/14/08 at 5:04pm
Quote:
Originally Posted by Ryan S~ View Post
LD, are you sure you really want to get into this again? It'll bring Issy out of the woodwork again, Sidious will continue to spout Ron Paul rhetoric and propaganda and you'll end up banging your head so hard against their irrationality that it'll feel like a boilermaker hangover.
You'll never believe this, but I actually don't enjoy arguing about this stuff, either. I must have some weird "pick a fight" gene when it comes to the topic. In the interest of not derailing the thread, I'm off my soapbox starting...now.
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post #53 of 71
3/14/08 at 6:13pm
A very subjective and personal article by Tyler Cowen, a professor of economics at George Mason, in Washington Post.

It's from November ´07 and probably won't bring much new to the table for most of you, but still an interesting read.

Link to article

The one upside of your economy for a foreigner like me, is that the roadtrip I'm planning with a few of my friends (to the U.S.) will be a HELLUVA lot cheaper for us. I bought 2000 dollars yesterday for the lowest price in my life.
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post #54 of 71
3/14/08 at 6:14pm
Joke's on YOU. The dollar is going to plummet WAY lower. Sucker.
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post #55 of 71
3/14/08 at 7:30pm
it did today actually so yeah. But I don't think it will get that much lower and I still have lots of dollars to buy, so I'll wait a little while longer before purchasing the rest.
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post #56 of 71
3/14/08 at 7:39pm
Quote:
Originally Posted by JudgeSmails View Post
Not true. Some, yes. Most, no. Most of these "former homeowners" signed mortgages that they could not afford no matter what. These ARMs and Interest Only mortgages would have screwed them NO MATTER WHAT. This isn't Iraq's fault at all, but the fault of two groups of people:

1. Greedy Bankers who targeted individuals who they know they could abuse
2. Stupid People who bought more house than they could afford.

What galls me is that no one takes responsibility for their own actions anymore. For Christ's sake if a Bank tries to give you a loan for money you can't pay off DON'T TAKE IT!
this post is so ignorant and stupid it make me want to cry.
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post #57 of 71
3/14/08 at 10:40pm
Thread Starter 
Quote:
Originally Posted by The LD View Post
Let's do the dance again!

The reason it doesn't mean anything is because it assumes that there's one defined meaning to the Constitution. Take three really brilliant men who really understand the Constitution (Say, Antonin Scalia, Stephen Breyer, and Erwin Chemerinsky) and ask them what the Constitution means. They will give you radically different answers. It's not that simple. Hell, different understandings of the Constitution are the reason that we have different political parties.

Appeals to "the TRUE meaning" of the Constitution just don't add up. It's not that simple, because the document is vague enough (and necessarily so, since it's a living document) to have many valid interpretations. Though I don't agree with you that it's perfect, I think that its flexibility is one of its strengths. So, to point out that it has not been followed in the same breath that you mention that it's susceptible to change (and that applies in a micro and macro sense) is a little contradictory.


When I say follow it I mean things like using gold and silver to back our currency like we used to (that would take care of alot of our problems). We wouldnt have these warrentless searches and loss of our liberty, we wouldnt be dealing with the social security crisis. That right there would solve many problems. I do understand that the constitution can be seen in many ways like social security you COULD say that IS "promoting the general welfare". Thats a debate but we all know the founders would not agree with that.
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post #58 of 71
3/14/08 at 10:41pm
Thread Starter 
Quote:
Originally Posted by The LD View Post
You'll never believe this, but I actually don't enjoy arguing about this stuff, either. I must have some weird "pick a fight" gene when it comes to the topic. In the interest of not derailing the thread, I'm off my soapbox starting...now.



What exactly are you against?
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post #59 of 71
3/14/08 at 10:42pm
Thread Starter 
Quote:
Originally Posted by Bitches Leave View Post
A very subjective and personal article by Tyler Cowen, a professor of economics at George Mason, in Washington Post.

It's from November ´07 and probably won't bring much new to the table for most of you, but still an interesting read.

Link to article

The one upside of your economy for a foreigner like me, is that the roadtrip I'm planning with a few of my friends (to the U.S.) will be a HELLUVA lot cheaper for us. I bought 2000 dollars yesterday for the lowest price in my life.


Enjoy it. America had it's day in the sun. It just really sucks that im 25 and ready to start my life and I get this thrown in my lap....a pile of shit!
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post #60 of 71
3/14/08 at 10:43pm
Thread Starter 
Quote:
Originally Posted by Bitches Leave View Post
it did today actually so yeah. But I don't think it will get that much lower and I still have lots of dollars to buy, so I'll wait a little while longer before purchasing the rest.

Should have waited til March 18 when the Federal Reserve lowers interest rates again which will devalue the dollar even more. Then people wonder why things are getting more expensive.
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post #61 of 71
3/14/08 at 10:53pm
Quote:
Originally Posted by eenin View Post
this post is so ignorant and stupid it make me want to cry.
Sorry, but he isn't wrong. I hate the Iraq was as much as anyone, but you can't blame it for families making 60,000-70,000 dollars a year moving into $150,000 houses because they got a low introductory rate on an ARM but couldn't make their mortgage payments once the rates started shooting through the roofs.

Now, what effect Iraq and a thousand other factors had on those rates shooting through the roof is a matter of discussion, but the fact is that people should have the foresight and restraint not to put themselves in these sorts of situations if you can't afford them. Agreeing to an adjustable rate mortgage is one thing if you're loaded and can afford it even if it goes nuclear. But for people barely making end's meet? It's no secret that it's flirting with disaster.

The home loan comapnies are at fault for much of this, and I think what they did was pretty vile as they were ultimately preying upong the people I'm talking about. But there absolutely has to be some accountability among people for their own actions. Many (not all.) of these people put themselves in these situations when they were financially borderline as it was.

I would never, EVER, agree to an ARM, no matter how low the initial rate. It's an accident waiting to happen.
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post #62 of 71
3/15/08 at 12:43am
Quote:
Originally Posted by Drew S. View Post
Sorry, but he isn't wrong. I hate the Iraq was as much as anyone, but you can't blame it for families making 60,000-70,000 dollars a year moving into $150,000 houses because they got a low introductory rate on an ARM but couldn't make their mortgage payments once the rates started shooting through the roofs.

Now, what effect Iraq and a thousand other factors had on those rates shooting through the roof is a matter of discussion, but the fact is that people should have the foresight and restraint not to put themselves in these sorts of situations if you can't afford them. Agreeing to an adjustable rate mortgage is one thing if you're loaded and can afford it even if it goes nuclear. But for people barely making end's meet? It's no secret that it's flirting with disaster.

The home loan comapnies are at fault for much of this, and I think what they did was pretty vile as they were ultimately preying upong the people I'm talking about. But there absolutely has to be some accountability among people for their own actions. Many (not all.) of these people put themselves in these situations when they were financially borderline as it was.

I would never, EVER, agree to an ARM, no matter how low the initial rate. It's an accident waiting to happen.
Exactly. I'm against the war also, but claiming the war brought on the subprime disaster is both stupid and ignorant.

Honestly, there is one thing I hope and expect to see from this mess. That both banks and people wise the fuck up. The silver lining is hopefully that we (USA) don't make the same mistake twice.

However, these days our cultural intelligence seems to consist of watching youtube videos of rednecks lighting roman candles in their ass and Paris Hilton videos. So odds are we'll fuck up again real soon.
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post #63 of 71
3/15/08 at 1:21am
Thread Starter 
The war isnt directly to blame for the mortage crisis but it has a HUGE part in the overall economic failure.
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post #64 of 71
3/15/08 at 1:51am
Quote:
Originally Posted by DarthSidious View Post
The war isnt directly to blame for the mortage crisis but it has a HUGE part in the overall economic failure.
no.
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post #65 of 71
3/15/08 at 2:20am
Thread Starter 
Quote:
Originally Posted by Snaieke View Post
no.



LOL!
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post #66 of 71
3/15/08 at 2:20am
As a Hispanic, I'm saddened that no one's blamed Mexicans yet.

Are we no longer "Hip" to blame?

*sad face*
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post #67 of 71
3/15/08 at 11:42am
Thread Starter 
Quote:
Originally Posted by Vader View Post
As a Hispanic, I'm saddened that no one's blamed Mexicans yet.

Are we no longer "Hip" to blame?

*sad face*

What are Mexicans?
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post #68 of 71
3/15/08 at 5:09pm
*cries*
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post #69 of 71
3/15/08 at 9:43pm
Quote:
Originally Posted by JudgeSmails View Post
Thanks Ryan. I thought it was only my fellow Americans that were dumbfucks. Good to know that we haven't cornered the market on dumb personal financial decision-making.
While I'm not sure any nation (or place) has the market cornered when it comes to financial ineptitude, I am sure that Albertans are pretty-much your fellow Americans.
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post #70 of 71
3/17/08 at 12:21pm
Good Read from the UK


Quote:
I doubt the dollar can fall much further. What is it to fall against? The spreading credit contagion will cause large parts of the globe to downgrade in hot pursuit - starting with Europe.

Few noticed last week that the Italian treasury auction was also a flop. The bids collapsed. For the first time since the launch of EMU, Italy failed to sell a full batch of state bonds.

The euro blasted higher anyway, driven by hot money flows. The funds are beguiled by Germany's "Exportwunder", for now. It cannot last. The demented level of $1.57 will not be tolerated by French, Italian and Spanish politicians. The Latin property bubbles are deflating fast.
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post #71 of 71
3/17/08 at 3:41pm
Quote:
Originally Posted by Adam Warren View Post
While I'm not sure any nation (or place) has the market cornered when it comes to financial ineptitude, I am sure that Albertans are pretty-much your fellow Americans.
I'm ashamed to admit that I can't argue that.
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