Here We go Again!

[rushmc 23]

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Obama administration pushes banks to make home loans to people with weaker credit

Which was the primary cause for the housing bubble burst that triggered the mess we are still in so, hell, lets do it again

And then we can blame the banks again

http://www.washingtonpost.com/business/economy/obama-administration-pushes-banks-to-make-home-loans-to-people-with-weaker-credit/2013/04/02/a8b4370c-9aef-11e2-a941-a19bce7af755_story.html

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Andy9o8 2]

I'd rather piss away good money at home than in Afghanistan.

[rushmc 23]

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I'd rather piss away good money at home than in Afghanistan.

Ok

I will mark you down as wanting another near depresion cycle soon

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Andy9o8 2]

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I'd rather piss away good money at home than in Afghanistan.

Ok I will mark you down as wanting another near depresion cycle soon

I would argue that one of the major causes of this near-depression is the post-9/11 military spending without the revenues to pay for it.

[rushmc 23]

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I'd rather piss away good money at home than in Afghanistan.

Ok I will mark you down as wanting another near depresion cycle soon

I would argue that one of the major causes of this near-depression is the post-9/11 military spending without the revenues to pay for it.

You could argue that if you wish. It is your choice if you want to wrong

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[rushmc 23]

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Obama administration pushes banks to make home loans to people with weaker credit

Which was the primary cause for the housing bubble burst that triggered the mess we are still in so, hell, lets do it again

And then we can blame the banks again

http://www.washingtonpost.com/business/economy/obama-administration-pushes-banks-to-make-home-loans-to-people-with-weaker-credit/2013/04/02/a8b4370c-9aef-11e2-a941-a19bce7af755_story.html

Fannie Mae posted record profits last quarter. Their stock jumped on the report and is now trading at a whopping $.90 a share. During the subprime fueled 'housing boom' when any checkout cashier could get a $300k zero-down mortgage loan the stock was powered up to $80 a share.

So, history repeating itself and back to $80 in 5+years?

The government has already shown they're not going to let Fannie and Freddie dissolve (two big to fail and all that bullshit).

They have to stop the housing prices from rising. (seems counter intuitive I know) They are not done using this disaster yet. Cant waste it

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[rushmc 23]

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Quote

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Obama administration pushes banks to make home loans to people with weaker credit

Which was the primary cause for the housing bubble burst that triggered the mess we are still in so, hell, lets do it again

And then we can blame the banks again

http://www.washingtonpost.com/business/economy/obama-administration-pushes-banks-to-make-home-loans-to-people-with-weaker-credit/2013/04/02/a8b4370c-9aef-11e2-a941-a19bce7af755_story.html

Fannie Mae posted record profits last quarter. Their stock jumped on the report and is now trading at a whopping $.90 a share. During the subprime fueled 'housing boom' when any checkout cashier could get a $300k zero-down mortgage loan the stock was powered up to $80 a share.

So, history repeating itself and back to $80 in 5+years?

The government has already shown they're not going to let Fannie and Freddie dissolve (two big to fail and all that bullshit).

They have to stop the housing prices from rising. (seems counter intuitive I know) They are not done using this disaster yet. Cant waste it

One of the things that causing the housing bubble was the loose and easy liquidity. Housing stopped becoming something you bought for shelter and it became a commodity that was traded. Everyone and their grandma was getting into real estate and 'flipping houses.' I'm seeing the return of 'housing porn' on TV as well with shows like Flip This House and all that crap. Funny thing is they are airing reruns from pre-crash days of guys like Joe in San Antonio buying a house for $30k and selling it for $200k. Oh, and Joe crashed with the market, went bankrupt, and lost everything including that hottie wife he had back when he was shooting the show.

So I say BRING ON THE SUBPRIME! Since we've seen it before the smart ones (the few and far between) should be able to see the signs and make a fortune.

Yea!

Then we can all blame the banks again when the train wreck hits!

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[sfzombie 3]

so let me get this straight: you would rather us pour money into afghanistan than the us? no explanations, just a yes or no, if you can manage that.

http://kitswv.com

[rushmc 23]

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so let me get this straight: you would rather us pour money into afghanistan than the us? no explanations, just a yes or no, if you can manage that.

Not related

Not going off topic

This is about the gov pushing subprime home loans

again

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Andy9o8 2]

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so let me get this straight: you would rather us pour money into afghanistan than the us? no explanations, just a yes or no, if you can manage that.

Not related

Is so.

[rushmc 23]

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so let me get this straight: you would rather us pour money into afghanistan than the us? no explanations, just a yes or no, if you can manage that.

Not related

Is so.

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[champu 1]

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I'd rather piss away good money at home than in Afghanistan.

Ok I will mark you down as wanting another near depresion cycle soon

I would argue that one of the major causes of this near-depression is the post-9/11 military spending without the revenues to pay for it.

You would?

I would argue that we haven't taken the hit for having spent the money yet, thus it doesn't follow that it can be blamed for the economic downturn we saw.

[Andy9o8 2]

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we haven't taken the hit for having spent the money yet

Really? Hm. We all know how massive the expenditure's been. How much of a lag time would you think applies, and why?

[champu 1]

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we haven't taken the hit for having spent the money yet

Really? Hm. We all know how massive the expenditure's been. How much of a lag time would you think applies, and why?

Well, part of the answer lies in your original statement, "...without the revenues..." so the lag time is a function of whenever we get around to paying for it, either with higher revenues or cutting spending elsewhere. There is also a contribution in that adding to the debt has the potential to make borrowing more expensive for the government, as evidenced by the debt ceiling crises and the government credit rating changes. These repercussions we've seen thus far, though, I'm more inclined to pin on idiots in congress who don't seem to understand how the government budget process works than on the debt itself or contributors thereto.

Something I occasionally feel compelled to point out, also, is that money spent on defense is not all summarily loaded into cannons and fired at the enemy. There have been many examples of both waste (incompetence) and fraud (malice) over the years, but this doesn't account for the bulk of the spending. The amount of money that goes towards training soldiers and civilian employees, paying them, giving them equipment, supplies, and technologies that are procured on contracts that are performing just fine, etc. is immense. Easily the primary factor in the size of the defense budget. And while a lot of the resulting material goods and man hours end up overseas, more of the money stays here in our economy. I think we'll both agree that this should not be the point of defense spending, but I don't think it can be ignored in judging how defense spending affects the economy either.

[airdvr 210]

At least we can be sure John Stewart will have plenty of fodder from both sides of the aisle.

Please don't dent the planet.

Destinations by Roxanne

[weekender 0]

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Obama administration pushes banks to make home loans to people with weaker credit

Which was the primary cause for the housing bubble burst that triggered the mess we are still in so, hell, lets do it again

And then we can blame the banks again

http://www.washingtonpost.com/business/economy/obama-administration-pushes-banks-to-make-home-loans-to-people-with-weaker-credit/2013/04/02/a8b4370c-9aef-11e2-a941-a19bce7af755_story.html

While i would agree there is a lot of misdirected animosity towards banks, i cannot agree the primary reason for the housing bubble was this sort of policy. I'd say banks chasing yields due to low interest rates was a large impetus for mortgage backed securities. which became a motivator for banks and mortgage brokers to create more loans, lowering credit standards....housing crisis.

of course its a lot easier to just blame poor minorities or evil criminal bankers. depending on your party, of course.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[sfzombie 3]

it is related, i believe it was in a post further up where it was presented to you in this way. it is a question that was presented to you in a discussion. will you answer the question? in the time you took to spout on about going off topic, you could have answered the question. i just want to know where you stand on this issue as presented to you. or you could continue to dance around it. but that sounds like a politician, or a lawyer. i have no great respect for either profession, however, i will not judge individuals or groups based on my own bias. just an observation.

http://kitswv.com

[ManagingPrime 0]

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so let me get this straight: you would rather us pour money into Afghanistan than the us? no explanations, just a yes or no, if you can manage that.

Is there an option for "neither" or "boobies"?

[sfzombie 3]

afraid not, this is a really specific question, a simple yes or no will suffice.

http://kitswv.com

[Kennedy 0]

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afraid not, this is a really specific question, a simple yes or no will suffice.

Do you still beat your wife? Really specific question, a simple yes or no will do.

(do you see the problem? Andy does)

witty subliminal message
Guard your honor, let your reputation fall where it will, and outlast the bastards.
1*

[Andy9o8 2]

zzzzz huh? Oh.... boobies.

[Kennedy 0]

I catch you napping like that again and I might get you to answer a hypothetical.

You need a beer to go with those boobies.

witty subliminal message
Guard your honor, let your reputation fall where it will, and outlast the bastards.
1*

[sfzombie 3]

no, x4(divorced four times)

http://kitswv.com

[sfzombie 3]

that was easy, all i wanted to hear on my question.

http://kitswv.com

[Kennedy 0]

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Do you still beat your wife? Really specific question, a simple yes or no will do.

no, x4(divorced four times)

Well, I'm glad you stopped. Did she ever fight back or call 9-1-1, or did she just divorce you for the beatings?





(n.b. I'm not actually accusing you of domestic violence, but rather attempting to show you that forcing a question into yes or no can make answering impossible)
Example: have you stopped eating babies? do you still enjoy two girls one cup? Etc.

witty subliminal message
Guard your honor, let your reputation fall where it will, and outlast the bastards.
1*