The administration is looking into whether the BCS is legal??? WTF why are we wasting millions of dollars to research this.
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For real. wtfOriginally posted by scarpComment -
I guess I just don't get why we feel the need to buy everything on credit? If you can't afford to pay cash for a car, then walk. If you don't have the cash to buy a house, then rent. If you don't have the cash to purchase a television, find something else to do. You get the point.Originally posted by FishheadComment -
Originally posted by DunderThis is not a party political issue.
C'mon, Dunder! This is the (Un)United States. We blame everything that is wrong with our country on the political party with which we have no affiliation. Working together to really make a difference is out of the question. Blame is where it's at.Comment -
[quote=andywend;3106326]People should NOT be allowed to walk away from their homes just because they are underwater on their mortgage.
When home prices were escalating, people were more than happy to flip houses and refinance their homes lining their pockets with easy money.
When the tide turns and housing prices go down, the Obama administration is almost encouraging people to default on their mortgages.
The laws need to be changed so housing lenders can get quick judgements against people who walk away from their responsibilites. Once the judgement is in place, these people who walked away should have a percentage of their wages garnished until their responsibilites are satisfied.
All this may be true, but why were banks handing out loans to every Thom, Dick, and Harry that walked through the door. Basically these loans are investments, and if you hand out this money to people who may be considered a huge credit risk, you may not get your money back. It is a risk you take as bank, if the people can't pay, the bank gets the house back.
How much are these banks making off the loan anyway? If you grab a loan for $200,000, how much are you really paying back over 25/30 yrs? $400,000? If I'm wrong, I apologize. Will the house likely become worth nearly that much? Doubt it. This world is about nothing more than people trying to screw other people and it needs to stop.Comment -
12 trils is nothing until you consider all the other debt the average american has: http://www.usdebtclock.org/
yea if this is right, the bottom line of the average American is -100K, even the kids, so the average family owes like 300-400k to someone out there!
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This news of another 1.6 trillion dollar deficit comes out and what does gold do ?
It tanks, down $46 yesterday and another $15 so far today.
Makes no senseComment -
Historically it has been used as a store of value and a hedge against inflation, but if the sh!t really hits the fan, having ownership of a kilo or two of yellow metal is going to be pretty pointless.Originally posted by nobsComment -
Good List there bro. I spoke mano-o-mano with David Walker 2 years ago. Let me add a book to the list...Originally posted by WheellTo blame either party (or any individual) misses the point and obscures the true difficulties we face.
If you are interested in a history of the budget, check out Mirage by George Hager. It is a bit out of date, but it gives an excellent review from the late 70's up through 1997.
For a more updated take on the situation check out Comeback America by David Walker.
For a good look at economics in general check out Naked Economics by Charles Wheeler
for some more advanced reading check out Free Trade Doesn't Work by Ian Fletcher
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Lastly, if you are interested in future changes to the economy you should check out The Lights in the Tunnel by Martin Ford.
Things are obviously bad, and less obviously getting worse. That's just the way it is.
War For Wealth....Gabor Steingart. Offers excellent insite on how to combat globalization.
Adam Smith wrote the Wealth of Nations 260 years ago. Had the free market countries followed his advice to a tee, we would not have bastardized our system.
Smith espoused laissez faire economics...yet he denounced the legal entity status of corporations. He was correct in his oversight..
Once corporate power became collective oligopolies, the concept of fair competition and true free markets disappeared.
Because we have bastardized the system, the end game will turn out the way Marx/Engels envisioned.
Dems blame big biz and GOPers' blame the big government. In reality big business controls/owns big government. A reverse fascism if you will.
The end game will always be...the elite, and the peasant class. The only real question is...how long will it take?
I visit 2 other poli boards on a routine basis. After reading this thread, the people here have a much better grasp and understanding of what is really going on.Comment -
jokes on the lenders when the world ends in 2012Comment -
Like anything else, gold's price is just the collective opinion of what the masses think it's worth.Originally posted by nobs
Once we went off the gold standard....we peg our wealth to nothing.
I invested heavily in gold a couple years ago. I sold it all 4 months later....after realizing that you can't eat or drink it.Comment -
[quote=teecee;3109087]Good points and may I add....Collectively, the housing bubble was a heads I win, and tails I win too for both Freddie and Fannie/ and the investment banking cartel. They both knew that they were "too big to fail".Originally posted by andywend
Imagine if you plunked down 10 million on the Colts last Sunday. And then you told the man that if you pay, then the entire financial system will collapse.
Well, that's the short skinny on the housing bubble pop.Comment -
Originally posted by mintybetmachine12 trils is nothing until you consider all the other debt the average american has: http://www.usdebtclock.org/
yea if this is right, the bottom line of the average American is -100K, even the kids, so the average family owes like 300-400k to someone out there!
Kinda puts blowing 2 grand on a parlay in it's proper perspective, eh?
Yup, unfunded liabilities amount to roughly 5 times the current national debt.
I have a really hard time in telling my kids how badly we screwed them in the ass.Comment -
The federal government needs to cut 90% of its workforce and state/local governments need to make similar cuts.
Government programs such as medicare and social security need to be scrapped entirely.
People over 65 should be taken care of by their children and NOT the federal government. If they don't have children, then they need to be taken care of by other family members or friends. This was the way it was done before social security and medicare and most other countries weren't foolish enough to go down the path the U.S. did.
Without question, the WORST president in the history of the United States of America was Franklin Delano Roosevelt and history will prove he was the man most responsible for causing the destruction of the U.S.
He used the Great Depression as an excuse to start all of his social programs just like Barack Obama and the democrats are using our country's current recession to further their social agenda.
Politicians used to throw around the term "millions", then "billions" and now the Obama administration is talking "trillions".
I love that line about Jesus spending $2,000,000 everyday from the time he was born until now and that still NOT being enough to cover our country's debt.
Most Americans were hoping these politicians would see all the damage they are causing to the country and future generations and get some sort of reasonable handle on the TRILLIONS they are wasting but it has become clear they just don't care.
For the first time in history, left-wing democrats seemed very concerned about all the money the federal government was spending during the Bush administrations. However, as we all kind of knew, they weren't really objecting to the excess government spending but the man who was spending it. Now that one of their own is in the White House SHATTERING even President Bush's reckless spending, they no longer care about it.
Our founding forefathers drafted our laws in such a manner giving power to the people to stop these politicians from doing so much damage to our country. Unfortunately, we ignored a critical part of their plan as they made it very clear on who they thought should be allowed to participate in the voting process.
Today you have organizations like ACORN rounding up people who have never worked a day in their life as well as falsifying voter registration forms probably totalling in the millions.
As long as nothing changes and the welfare recepient in Compton continues to have the same voting power as a Warren Buffett or Bill Gates, there is nothing anybody can do to stop the U.S. from self-destructing.
I still believe our system of government originally set up by our founding forefathers is the best way, but you can't pick and choose which parts to follow and which parts to change.
The first 10 amendments along with the most recently added 27th amendment were all proposed September 25, 1789 so they are really a part of the original constitution.
Amendments 11 through 26 were all a mistake.Comment -
so we shoold buy supply now to prepare for no money crisis
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Good point. And lots of excellent posts in this thread.Originally posted by scarp
The amount of dis-information/distractions shoved upon the average American daily is staggering. We have a president that clearly is not in charge. The guy insists we keep talking about carbon taxes and gays in the military. Meanwhile close to 20% of able-bodied workers can not get a job.
Only thing I can bring up that hasn't already been mentioned is the wars. They are a complete waste of resources and life. Bring the troops home already.Comment -
recently read a report that today there are more men unemployed in america than ever before , numbers and percentageOriginally posted by QB_Disruptor
but dont worry , just as long as the terrorist in Guantanamo get cable tv, and a lawyer, fags can be open in the military and pursue a war in Afghanistan right after the russians got their asses wopped there than all is fineComment -
I think we need to start killing the dead weight. Have a child you do no support, we get to kill you. Yes, you and I, no arrest. You steal over a certain amount of money. Dead. Break into a home. Dead. Look at my child cross-eyed. Dead. We are too soft in the cuntree.Comment -
The only way the world will end in 2012 is if Iran is ready to nuke our asses by then or not. Obama is a bitch and the rest of the world is bitchin his punk ass out on a daily basis.
and even though he acts and talks (all he fukking does is talk) like a tough guy, the banks just bitched his ass out again. no lobbyists? bullshit. money wins elections.
Both parties are fukking criminals whose only job went from serving the interest of the people to getting re-elected.
Two things that would fix America real quick: 1. Term limits- is there a better example than the Kennedys? 2. People with no real world experience running a business should not be allowed into politics. politics is for people that can't make it in the real world so they lie, cheat and steal and live the life of an elite on our dollar.
Too big to fail? any business being labeled too big to fail sure as shit has "public servant" pensions tied into it. every fukking government employee is over-paid and their pensions are not sustainable.
This is the first year more people are drawing on social security than paying in. it will be broke in 10-15 years and then the shit will hit the fan.
The average American citizen has no idea the dire straits we are in, but will in about 2 or 3 years. at least the White House manned up and forecasted unemployment to remain at 8.4% or higher the rest of this year.
The IRS should be fukking gone.
The Federal Reserve should be fukking gone.
Keep printing money. but until they actually destroy the middle class, things will be okay. but once the middle class is gone, it will be time to decide, revolution or ketchup sandwiches.Comment -
Glad I live in Holland, at least some of the time.
...but once your currency goes thru the floor, I'll be living in broke-assed San Diego like a king, instead of renting a cheap two-room flat.
So I'm looking forward to it.
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The single biggest contributor to the debt is WAR. From ww11, korea, nam, THE COLD WAR,gulf war and the current engagements. don't know the solution, but obviously a smaller government and less foreign involvement have to be part of the fix.Comment -
Statnerds, Intelligent write up.Comment -
I agree with some points, but others are totally insane. First, term limits are definately needed. 2 terms for Senators and 4 for Congressmen. As far as who runs is concerned, you have absolutely NO RIGHT to determine that. You may be just as bad as the people running. If they are eligable, they have a right to run. Don't like them, don't vote for them.Originally posted by statnerds
Getting rid of the IRS is totally ridiculous. Just what do you suggest to replace it? Or are you naieve enough to believe that the country can run without taxes. It is easy to spout off when you have absolutely no clue as to what may be better.
Ditto the Federal Reserve. What are you going to replce it with? Don't tell me what is wrong. Tell me how to fix it.
As far as Americans being in dire straights is concerned, you are a little off there. The undemplyment rate will be closer to 10% than the 8.4 that you claim the Obama Administration conceeds. I had heard that they conceded 10% also.
Social Security will not be bankrupt in 15 years. It will always be funded. That is just the screamings of an ultra conservative. Just what do you suggest to replace it?
What gave you away as just another pissed off ultra conservative was you statement about revolution. Get this through your head. It will never happen. No chance. You have absoultely no power to make this happen, nor do the people in this country. You will be stopped before you start. Only a very few percent of ultra conservatives think this. Just exactly who are you going to revolt against? Where will you get your weapons? Where will you get your training? From some Right Wing nut group in Idaho? Now I am a Conservative, but even I do not go as far as you do in spouting this nonsense and trash talk. You like to talk real tough, but you are just like the others. When asked for solutions, you have none. Show me solutions, other than a revolt.Comment
