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You seem angrier'n usual lately. I like it.Comment -
Wait until I piss on Ken's faceComment -
My parents are from Beaver Falls. Depressing as hell up there.Comment -
you gonna draw pictures with that piss?Comment -
You'll see Nina...I have lots of ideas.Comment -
the economy is doing great, Obama has saved us.
I've trimmed 4 houses this year
but I'm working on another house now which will be my 5th of the year
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Nice video. But what is the point?
Unless you have video of the same area from 2007 or 2008, showing it to be a boom town I dont think u have a point. Even during the boom under Clinton, you could goto the poorest part of towns and see the same thing.
Anyways, The Great Recession began back in December 2007 and cost 4 MILLION jobs even before Obama entered office. So I dont see how you neocons can possibly blame Obama for the current situation?
And my dad knows all about the real estate crash first hand. He is a real estate investor. He made millions buying cheap property and selling them for 10X. Made a good living..... but guess how many properties he sold in 2008? Big fat 0. It wasnt from lack of effort........ he spent thousands on advertisements and no one would show up! In the past dozens of people would show up and offer 6 figures in CASH!!!!!! But not one offer beginning in early 2008. Not surprising since entire neighborhoods were being foreclosed on. Homes that were worth $500,000 were now worth under $200,000!!!!!!!
My dad never talks politics but he had a few choice words for Dumbya and the whole subprime fiasco which Dumbya was warned about but chose to fire the regulators instead because his political donors were making tons of money. You think that was Obama's fault also?
Seriously, you neocons should put ur partisian politics aside and pray that Obama succeeds. Otherwise it'll turn into The Great Depression which means unemployment will climb over 50% and millions more homes/cars (Even the nice car ur driving) will be foreclosed/repo'd on. If u think its bad now u havent seen nothing yet if Obama cant turn it around.
And according to many economists Obama has done a good job preventing The Great Recession from becoming The Great Depression. The turnaround is already happening..... it may take couple years to notice the change but that's how much damage Dumbya did in his 8 years of terror.Comment -
nice video proves my point that america is a giant wastelandComment -
feel like im watching gran torino rerunComment -
Are you familiar with the fair housing act? People who don't have money shouldn't own homes! I think this is neither a democratic or republican issue. The fact that your dad can buy a home and sell it for ten times more just tells me he is a smart businessman...being able to sell a home 10 times over in a short period of time suggests a greater problem with "the market"
Your dad did well and hats off to him...it's the American Way
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Inthe...
My favorite part is when you ran the stop sign.
Did you realize you did that?Comment -
Yeah I've heard of the Fair Housing Act...... it prevents discrimination against race, color, religio , sex, disability when renting, buying or selling a dwelling. Not sure what that has to do with anything.Are you familiar with the fair housing act? People who don't have money shouldn't own homes! I think this is neither a democratic or republican issue. The fact that your dad can buy a home and sell it for ten times more just tells me he is a smart businessman...being able to sell a home 10 times over in a short period of time suggests a greater problem with "the market"
Your dad did well and hats off to him...it's the American Way
My dad actually deals in land mostly. And he has a 6th sense when it comes to finding the best investment.
Years ago he would advise his clients to buy land in a certain area. They would all laugh and say what for cause the lands were kinda in the middle of nowhere. Then couple years later, they would double, triple, quadruple in value and they all regret not listening. For example a land that was on sale for $100,000 in 2002 sold for $1.5M couple of years ago. But that was before the subprime fiasco.Comment -
FHA legitimized and made the subprime market thrive. I am of the opinion that the government (people like me) should not be in the business of making the the unaffordable---affordable. A plus for you and your family selling real estate
And I quote....
"It turns out that a whole lot of borrowers getting FHA-insured loans can’t make the payments. At the end of February about 7.5% of FHA loans were “seriously delinquent;” up from 6.2% a year ago. (Seriously delinquent = 90 or more days overdue.) Not surprisingly, the reserve fund FHA keeps handy to cover bad loans has been seriously eaten into over the past year: it is down to about $13 billion today, compared to $21 billion a year ago."
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"And it’s not too hard to see why. In theory-and in practice for many years-the FHA program helps folks who wouldn’t otherwise be able to afford a home, make the purchase. But the very structure of FHA-insured loans makes them a potential landmine in a economy where job security and home values are sinking. You can have a crappy credit score of just 600 or so and qualify for an FHA-insured loan at the same low interest rate that private lenders typically reserve for borrowers packing 740+ scores. And you need only a 3.5% down payment for an FHA-insured loan."
There should be a 10 to 15% requirement to buy a home or we as a country have to re-think the real estate market. When I have some time I'll present research as to how the Federal Government went about strong arming "safe banks" into offering loans they would never think of offering under penalty of violation of FHA.Comment -
Nice vid, Inner. But one point is that I recently went to a town in PA which looked quite like that, but worse. Really small place but like a fukkin' ghost town which was a much bigger place not so long ago. When the steel industry in Pittsburgh collapsed then so did the town and no amount of stimulus money is every going to get to back to the way it was.
Excellent point - so credit where credit is due (if I ignore the use of neocons which should be banned in any political debate). The fact is that the USA is in a deep hole (much like every country out there). The future of everyone in this country has been mortgaged to a very large degree (remember - this stimulus money needs to be paid back) and, at this moment, Obama is trying to put things right. If he succeeds then great, if he fails then things are going to get a heck of a lot worse.
But if everything turns to shit I can forsee the resident staunch Republicans sitting in the gutter saying "I told you Obama couldn't do it" while rooting through the dumpster for something to eat.Originally posted by pags11Originally posted by BuddyBearOriginally posted by curiousComment -
Wow, it makes me thankful where I live even more, orale!המוסד
המוסד למודיעין ולתפקידים מיוחדים
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Bold#1: Clinton's administration implemented subprime
Bold#2: Great Depression did not reach anywhere near 50%, but 26%.
Bold#3: Way more economists believe the recovery would have happened anyways. For one, most of the stimulus money never even left the door. Instead, it will come out over the next year and will be pointless spending.Comment -
I bet you all the stimulus is unloaded right before election time (Mark my Words)---Dems will say look at this bridge, look at that road, things are on the up-and-up and they will have achieved their goal and screwed us in the end. At this rate, in ten years half of the budget will be dedicated to interest expense
UNSUSTAINABLE
BTW---Republicans would probably do the same thing if the roles were reversedComment -
I have noticed in the last 39 hours this kid has snapped. I wonder what has happened to him? Is it the pressure of gambling??Comment -
There are tons of shoppers that can afford homes but banks are too timid after the whole subprime fiasco. So the only way for to buy a home is with government backed loans. There are also tons of foreclosed homes which need to be sold so banks can recoup losses and stimulate the real estate market. But unlike subprime loans at least downpayment is required and so is mortgage insurance.
delinquency is up only 1.3% from a year ago. It's hardly a problem now but if the economy worsens it may become a problem in the future which is why we need to fix it asap.Comment -
Good video Inner. I can drive around Norfolk or Portsmouth and show you the same stuff but worse. I'm not sure what your dispute with dagger is about, but the video is solid. I like the edgier side you been showing lately.Comment -
Some people are so damn emo about the economy these days.
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Why did it work so well under Clinton but fail so miserably under Dumbya?
Probably had something to do with the following:
1. In 2003, Bush fires the Fannie Mae regulator in after reports criticising Fannie Mae involvement in subprime lending.
2. In 2004, Securities and Exchange Commission deregulating banks, allowing them to take on more subprime debt which caused their collapse. Even the SEC admit this action caused the collapse.
3. In 2003, Fannie Mae increasing subprime lending to 57% from 40% ignoring all warnings from regulators.
4. Bush and Republican controlled Congress passing 0 laws and regulations to curtail subprime lending as it spiraled out of control.
The Great Depression saw 37% unemployment in nonfarming jobs. But of course it doesnt mean next time couldnt be 50% or higher.
Didnt President Hoover also believe in not getting the government involved? How'd that work out?
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House Financial Services Chairman DEM
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All I got outta that video is that Bill O'Reilly is a prick. And I think he was even doing a Nazi salute at the 1:30 mark.Comment
