Part of frugal living may be spotting the next mess before it blind sides you.
phil scott
dollars on the distressed market...and you are late with a mortgage
payment as your employer has announced lay offs...and your skill set
is retail sales clerk etc.
it will be nasty. My advice think twice about putting your last few
scheckles into such a black hole...instead stage to be flexible, few
or no taxable or lienable assets, stage now to make a living or at
least keep from starving to death in the times many are now seeing
ahead.
**
Obama is stepping into deep doo lately with *some of his remarks...
thats making McCain look rational by comparison.
Trying to play to the public at large, all facets, and special
interests at the same
time produces that result, and demonstrates any lack of integrity.
The nation is in deep trouble accordingly.
as an aside, safeway super market in Pacifica, calif has seen a 50%
price increase generally over the last 60 days.. in silicon valley 30%
+ ..so far this year. those are hyper inflation rates. Caused by
catering to corrupt banking practices and other such idiocy...now the
biggest are in crash mode.
Fanny Mae and Freddie Mac (govt sponsored mortgage backers) hold 40%
of the national GDP in mortgages and those values are now tanking at
warp speed, precipitating major bank failures...
Bail outs by the tax payers when it amounts to that much can only be
done (and is being done) by printing funny money... or via 'e money'..
thats the fed loaning to the member banks who then loan it to the
public...no currency printed.
This is one of the dominant final phase features before total collapse
of an economy...its a well established pattern, for over a thousand
years... same pattern.
The cure is completely nasty, and takes a generation or more... my
guess in the US less than that, 20 to 30 years to recovery.. Half a
generation due to our our already built infrastructure, land mass and
natural resouces.
It will be a nasty few decades though, the rest of most peoples lives
in fact.
...none of that brought to us by either party... but the larger cabal
of govt, civil service, and corporate interests including especially
international banking interests which own the federal reserve (its a
private bank, not US govt owned)..
(same with the IRS to a major extent, issue is heavily smoked over).
None of these give a rats ass about the nation.... but they do give a
rats ass about the assets, land, property, buildings, resources...that
is why the federal reserve is not taking US mortgage documents as
collateral in exchange for the money it loans the member banks... and
that is why US corporations are manufacturing over seas at the cost of
US jobs and the tax base necessary to support government.
These dont give a rats ass... especially in a world market as has
emerged in the recent decades.
End result, due to unpayable govt and private debt...these
international cartels end up owning the property... that is despite
the fact that local banks do not want to own property. they want to
earn interest in the mortgages.
Dont confuse the two, the fed has issued a statement that it will loan
up to 80 billion with such collateral now..(two months ago, a
precident)... you can bet they will not stop there... the goal as the
late George Carlin said is to "get it all, all of it, every last
fucking dime".
Its a video worth looking up on youtube.
....and on this path they will. Its happened before.
Concentration of wealth stats demonstrate the trend. 20 years ago in
the US 20% of the people owned 50% of the wealth...today its around 1%
of the US population that owns 50% of the wealth.
This ends up decimating a nation (mexico for instance, less than 1%
owns way more than 80% of the wealth, but verify the stats yourself..
all searchable on the web.... Mexico is a nation with a decimated
middle class, and a massive poverty class... there is not net national
gain or prosperity in that.)
The US is solidly into that final phase itself.
You see reversal as we did in Romania only when the people are
actually starving to death and put their kids into packed orphanges
because they cant afford to feed them...then you see correction. The
leaders get hung (sometimes), not in India for instance... its not bad
enough there yet apparently.
Our current batch of leaders are not worried about that..
From the first signs of such and end stage its about 20 years to such
a collapse. France ending in bastile day in the 18th century a good
example, it was peaked 20 years earlier. .. the king of france had
more gold, jewels, land and assets than any other nation.... 20 years
later, still as king is nation is bankrupt with collection pots on
street needed to keep his gig in gear... bankrupt paying his national
debt to the foreign bankers.
This route has been smoke screened in the US and manipulated by the
dot com boom, then bust.
My estimate of the final phase peak based on a study of the
underlying features was the late 1980's.. then kept afloat with dot
com mess... we are now late into the final 20 year collapse
cycle. imo.
**
re comments that 'this is what doomers always say, it never
happens'.... that old saw is both correct and incorrect.
A nation through its lifecycle sees 5 to 6 major depressions and many
more recessions, all of them recover
.... so the doomers within that cycle were wrong...if you consider the
great depression a sweet solution..we did rebound though.
The *longer *national *life cycles are beyond this scope...these have
different drivers... these drive a nation to total collapse or to
oblivion every 260 years ...exceptions make it to 300 years. (the
various Roman states, and empire etc...the Knights Templar for
example... a chain of castles with 20' thick walls, dual moats, outer
walls 10' thick, with foundations too deep to tunnel under... owning
virtually all of the gold in the world at the time.. vast cisterns of
grain and fresh water enough to last years...... poooooof.. gone in
20 years from that peak.
Many of the same drivers... they became corrupt, they lost their
ability to win wars, they were overrun despite their chain of bullet
proof fortresses.
Its a very interesting study.
its drivers are demographic... a population gets fat, dumb and
lazy...it elects idiots... it tolerates corruption in order to get a
govt check.... collapse is fast after that... its attempts to seize
the assets of other nations not withstanding...these only generate
enemies on a 360 degree perimeter.
the US is currently in that situation.
imo. ymmv.
Phil scott
AllEmailDeletedImmediately
"phil scott" <ph...@philscott.net> wrote in message
news:eb9da672-d3b9-4af3...@b38g2000prf.googlegroups.com...
snip
> End result, due to unpayable govt and private debt...these
> international cartels end up owning the property... that is despite
> the fact that local banks do not want to own property. they want to
> earn interest in the mortgages.
end result will be the amero currency uniting us, candada, and mexico coming
our way.
clams_casino
Watched a news commentary this morning that made the claim the US is not
really in a recession, but rather it's undergoing a significant
cost-of-living adjustment (significant reduction in living standards).
While the end result may appear to be similar, tools to reverse the
trend were claimed to be significantly different. If it was simply a
recession, low interest rates & tax rebates would likely be a solution
to jump start the recession, but neither was felt to be a solution (and
may actually create a stagflation recession similar to the 70's) for the
reduced living standard problem.
They really did not have any solutions for the government, essentially
concluding that everyone will just have to get use to a lower standard
of living (giving up something to offset the higher cost of gas / energy).
Guess getting more frugal is more important than ever.
Gee. I wonder who is profiting from the higher energy costs?
Rod Speed
I dont recall anyone predicting the sub prime fiasco before it happened.
phil scott <ph...@philscott.net> wrote:
> Say for instance you owe 400,000 dollars on a house
> now worth 150,000 dollars on the distressed market...
It hasnt dropped that dramatically.
> and you are late with a mortgage payment as your employer has
> announced lay offs...and your skill set is retail sales clerk etc.
Anyone with a clue keeps enough cash on hand or credit
card limits unused to be able to handle the time between jobs.
> it will be nasty.
Nope. You can always get a job if you need one badly enough.
> My advice think twice about putting your last few scheckles into such a black hole...
No one is in that black a hole.
Yes, some are in a different hole, most obviousy with ARMs etc.
> instead stage to be flexible, few or no taxable or lienable
> assets, stage now to make a living or at least keep from
> starving to death in the times many are now seeing ahead.
No one ever starves to death in america except those who choose to do that.
> Obama is stepping into deep doo lately with *some of his remarks...
It aint just lately, he's always done that.
> thats making McCain look rational by comparison.
Not hard.
> Trying to play to the public at large, all facets, and special interests at the
> same time produces that result, and demonstrates any lack of integrity.
> The nation is in deep trouble accordingly.
No prez matters much. In spades with the drivel they spew.
> as an aside, safeway super market in Pacifica, calif has
> seen a 50% price increase generally over the last 60 days..
Bare faced lie.
> in silicon valley 30% + ..so far this year.
Another bare faced lie.
> those are hyper inflation rates.
You clearly wouldnt know what real hyper inflation was if it bit you on your lard arse.
> Caused by catering to corrupt banking practices and other such idiocy...
Another bare faced lie.
> now the biggest are in crash mode.
Another bare faced lie.
> Fanny Mae and Freddie Mac (govt sponsored mortgage
> backers) hold 40% of the national GDP in mortgages
Another bare faced pig ignorant lie.
> and those values are now tanking at warp speed,
Another bare faced pig ignorant lie.
> precipitating major bank failures...
Another bare faced pig ignorant lie.
And the deposits are federally guaranteed anyway.
> Bail outs by the tax payers when it amounts to that much can
> only be done (and is being done) by printing funny money...
Another bare faced pig ignorant lie.
> or via 'e money'..
Another bare faced pig ignorant lie.
> thats the fed loaning to the member banks who
> then loan it to the public...no currency printed.
Another bare faced pig ignorant lie.
> This is one of the dominant final phase features
> before total collapse of an economy...
Another bare faced pig ignorant lie.
We didnt even get that in the great depression, stupid.
> its a well established pattern, for over a thousand years... same pattern.
Another bare faced pig ignorant lie.
Bet you cant even list even one total collapse of any economy in that thousand years, liar.
> The cure is completely nasty,
Nope, nothing nasty about what fixed the great depression, stupid.
> and takes a generation or more...
Another bare faced pig ignorant lie.
> my guess in the US less than that, 20 to 30 years to recovery..
How odd that it didnt with the great depression.
> Half a generation due to our our already built infrastructure, land mass and natural resouces.
How odd that it didnt with the great depression.
> It will be a nasty few decades though, the rest of most peoples lives in fact.
How odd that it didnt with the great depression.
> ...none of that brought to us by either party... but the larger
> cabal of govt, civil service, and corporate interests including
> especially international banking interests which own the
> federal reserve (its a private bank, not US govt owned)..
Another bare faced pig ignorant lie.
> (same with the IRS to a major extent, issue is heavily smoked over).
Another bare faced pig ignorant lie.
> None of these give a rats ass about the nation.... but they do give a
> rats ass about the assets, land, property, buildings, resources...that
> is why the federal reserve is not taking US mortgage documents as
> collateral in exchange for the money it loans the member banks...
Another bare faced pig ignorant lie.
> and that is why US corporations are manufacturing over seas at the
> cost of US jobs and the tax base necessary to support government.
Another bare faced pig ignorant lie.
And the US economy is about a hell of a lot more than just
manufacturing and has been for a hell of a long time now too.
> These dont give a rats ass... especially in a world
> market as has emerged in the recent decades.
Another bare faced pig ignorant lie.
> End result, due to unpayable govt and private debt...
> these international cartels end up owning the property...
Another bare faced pig ignorant lie.
> that is despite the fact that local banks do not want to own
> property. they want to earn interest in the mortgages.
> Dont confuse the two, the fed has issued a statement that it will loan
> up to 80 billion with such collateral now..(two months ago, a precident)...
Another bare faced pig ignorant lie.
> you can bet they will not stop there... the goal as the late George
> Carlin said is to "get it all, all of it, every last fucking dime".
Another bare faced pig ignorant lie.
> Its a video worth looking up on youtube.
Nope. Pure drivel.
> ....and on this path they will. Its happened before.
Another bare faced pig ignorant lie.
> Concentration of wealth stats demonstrate the trend.
Another bare faced pig ignorant lie.
> 20 years ago in the US 20% of the people owned 50% of the wealth...
Another bare faced pig ignorant lie.
> today its around 1% of the US population that owns 50% of the wealth.
Another bare faced pig ignorant lie.
> This ends up decimating a nation
You wouldnt know what a real decimation was if it bit you on your lard arse.
> (mexico for instance, less than 1% owns way more than 80% of the wealth,
Another bare faced pig ignorant lie.
> but verify the stats yourself.. all searchable on the web....
> Mexico is a nation with a decimated middle class,
Another bare faced pig ignorant lie.
> and a massive poverty class...
Because they breed like flys, stupid.
> there is not net national gain or prosperity in that.)
Another bare faced pig ignorant lie.
> The US is solidly into that final phase itself.
Another bare faced pig ignorant lie.
> You see reversal as we did in Romania only
> when the people are actually starving to death
No one starved to death in Romania.
> and put their kids into packed orphanges
> because they cant afford to feed them...
That aint why they put them into orphanages, liar.
> then you see correction.
How odd that we didnt see anything like that even in the great depression.
> The leaders get hung (sometimes), not in India for instance...
And not one was hung in the US during the great depression either.
> its not bad enough there yet apparently.
And never will be either, you watch.
> Our current batch of leaders are not worried about that..
Yep, they arent as stupid as you.
> From the first signs of such and end stage its about 20 years to such a collapse.
How odd that we never saw anything like that in the great depression.
> France ending in bastile day in the 18th century a good example,
Nope. And not one of the great democracys had anything like that anyway.
> it was peaked 20 years earlier. .. the king of france had
> more gold, jewels, land and assets than any other nation....
Another bare faced pig ignorant lie.
> 20 years later, still as king is nation is bankrupt with
> collection pots on street needed to keep his gig in gear...
Another bare faced pig ignorant lie.
> bankrupt paying his national debt to the foreign bankers.
Another bare faced pig ignorant lie.
> This route has been smoke screened in the US
> and manipulated by the dot com boom, then bust.
Just another of your pathetic little drug crazed fantasys.
> My estimate of the final phase peak based on a study of the
> underlying features was the late 1980's.. then kept afloat with dot
> com mess... we are now late into the final 20 year collapse cycle. imo.
How odd that we never saw anything like that in the great depression.
> re comments that 'this is what doomers always say, it never
> happens'.... that old saw is both correct and incorrect.
Nope, completely correct.
> A nation through its lifecycle sees 5 to 6 major depressions
How odd that there were a lot more than that in the century before 1929.
> and many more recessions, all of them recover
Including the depressions.
> .... so the doomers within that cycle were wrong...
> if you consider the great depression a sweet solution..
> we did rebound though.
And didnt see anything like your mindlessly silly claim about complete economic collapse.
That didnt even happen with the french either.
> The *longer *national *life cycles are beyond this scope...these
> have different drivers... these drive a nation to total collapse or to
> oblivion every 260 years ...exceptions make it to 300 years.
Another bare faced pig ignorant lie.
Nothing like that happened with britain, liar.
> (the various Roman states, and empire etc...
Lasted a hell of a lot longer than that, liar.
And pity about china and india and plenty of other societys too.
> the Knights Templar for example... a chain of castles
> with 20' thick walls, dual moats, outer walls 10' thick,
> with foundations too deep to tunnel under...
Not even possible.
> owning virtually all of the gold in the world at the time..
Another bare faced pig ignorant lie.
> vast cisterns of grain and fresh water enough to last years......
> poooooof.. gone in 20 years from that peak.
Didnt happen with the major castles in europe, fool.
> Many of the same drivers...
Nope, and even someone as stupid as you should have
noticed that we dont even bother with castles anymore.
> they became corrupt, they lost their ability to win wars, they
> were overrun despite their chain of bullet proof fortresses.
Nope, the Normans never were.
> Its a very interesting study.
Its pure pig ignorant drivel actually.
> its drivers are demographic...
Wrong again.
> a population gets fat, dumb and lazy...it elects idiots...
> it tolerates corruption in order to get a govt check....
> collapse is fast after that...
How odd that didnt happen with Britain.
> its attempts to seize the assets of other nations not withstanding...
> these only generate enemies on a 360 degree perimeter.
And the english managed to do that for a hell of a lot longer than 260 years, fool.
> the US is currently in that situation.
Nope. Nothing like it.
> imo.
Your opinion is completely worthless.
> ymmv.
gtre
Rod Speed
> Watched a news commentary this morning that made the claim the US is not really in a recession, but rather it's
> undergoing a significant
> cost-of-living adjustment (significant reduction in living standards).
Or it might well end up with both.
> While the end result may appear to be similar, tools to reverse the trend were claimed to be significantly different.
There are no 'tools' to fix the cost of energy.
> If it was simply a recession, low interest rates & tax rebates would likely be a solution to jump start the recession,
> but neither was felt to be a solution (and may actually create a stagflation recession similar to the 70's) for the
> reduced living standard problem.
> They really did not have any solutions for the government, essentially
> concluding that everyone will just have to get use to a lower standard
> of living (giving up something to offset the higher cost of gas / energy).
That assumes the cost of energy will stay high. It didnt in the 70s.
> Guess getting more frugal is more important than ever.
Unlikely.
> Gee. I wonder who is profiting from the higher energy costs?
Obviously those who are sourcing that energy.
Gordon
@mid.individual.net:
> Hell of a lot easier said than done tho.
>
> I dont recall anyone predicting the sub prime fiasco before it happened.
You weren't listening to the right voices.
I heard plenty of people predicting the fiasco.
But no body was listening to them. Or worst, they
were being called all kinds of bad names by the
people who were making all the sub prime loans.
Rod Speed
> Rod Speed <rod.sp...@gmail.com> wrote
>> Hell of a lot easier said than done tho.
>> I dont recall anyone predicting the sub prime fiasco before it happened.
> You weren't listening to the right voices.
Wrong.
> I heard plenty of people predicting the fiasco.
Bet you cant actually provide even a single cite on that.
> But no body was listening to them.
There wasnt anyone predicting it to listen to.
> Or worst, they were being called all kinds of bad names
> by the people who were making all the sub prime loans.
Another lie.
phil scott
> Gordon <go...@alltomyself.com> wrote
>
the world famous erwin schiff, George soros, Senator Ron Paul...
several dozen others
just search youtube for their video's under 'economics'....
your insults and bluster to not suffice bud... and no, not many of
cater to idiots who refuse to
do their own research...if we provide it these types just keep on
trashing.
its not impressive... Ive met a few face to face.... drooling
toothless idiots in most cases, drunks with body odor who think its
cute to post such ignorant rebuttals
Phil scott
Rod Speed
> Rod Speed <rod.speed....@gmail.com> wrote
>> Gordon <go...@alltomyself.com> wrote
>>> Rod Speed <rod.speed....@gmail.com> wrote
>>>> Hell of a lot easier said than done tho.
>>>> I dont recall anyone predicting the sub prime fiasco before it happened.
>>> You weren't listening to the right voices.
>> Wrong.
>>> I heard plenty of people predicting the fiasco.
>> Bet you cant actually provide even a single cite on that.
>>> But no body was listening to them.
>> There wasnt anyone predicting it to listen to.
>>> Or worst, they were being called all kinds of bad names
>>> by the people who were making all the sub prime loans.
>> Another lie.
> the world famous erwin schiff, George soros, Senator Ron Paul...
Not one of those ever predicted the sub prime fiasco before it happened.
> several dozen others
Another lie.
> just search youtube for their video's under 'economics'....
Not one of which predicted the sub prime fiasco before it happened.
Cite even just one, you cant, it doesnt exist.
<reams of your juvenile shit any 2 year old could leave for dead flushed where it belongs>
James
wrote:
> "phil scott" <p...@philscott.net> wrote in message
Why would Canada want to join US currency? We never had the easy
credit that is causing so much pain. Perhaps we didn't have the same
standard of living because of it, but we won't fall as far either.
Some of our banks had investements in US notes and lost billions, but
they will recover.
There might have been a convincing argument a few years back when
Canadian currency seemed undervalued. Not so much now.
James
Gordon
> Gordon <go...@alltomyself.com> wrote
>> Rod Speed <rod.sp...@gmail.com> wrote
>
>>> Hell of a lot easier said than done tho.
>
>>> I dont recall anyone predicting the sub prime fiasco before it
>>> happened.
>
>> You weren't listening to the right voices.
>
> Wrong.
If a tree falls in the forest...
>
>> I heard plenty of people predicting the fiasco.
>
> Bet you cant actually provide even a single cite on that.
Do your own damn research.
>
>> But no body was listening to them.
>
> There wasnt anyone predicting it to listen to.
Again, do your own damn research. Just because
_You_ didn't hear them, doesn't mean they were not there.
OTOH: Just because you hear them doesn't mean they
are there either.
>
>> Or worst, they were being called all kinds of bad names
>> by the people who were making all the sub prime loans.
>
> Another lie.
Prove it!
>
>
AllEmailDeletedImmediately
news:Xns9AF0A536138D...@194.177.96.26...
three little words: no doc loan. as soon as i became aware of that, i knew
what would happen. and gordon, STOP FEEDING THE ROD SPEED TROLL. PLONK
HIM!!!!!
Rod Speed
> Rod Speed <rod.sp...@gmail.com> wrote
>> Gordon <go...@alltomyself.com> wrote
>>> Rod Speed <rod.sp...@gmail.com> wrote
>>>> Hell of a lot easier said than done tho.
>>>> I dont recall anyone predicting the sub prime fiasco before it happened.
>>> You weren't listening to the right voices.
>> Wrong.
> If a tree falls in the forest...
Never ever could bullshit its way out of a wet paper bag.
>>> I heard plenty of people predicting the fiasco.
>> Bet you cant actually provide even a single cite on that.
> Do your own damn research.
YOU made that claim.
YOU get to do the citing.
THATS how it works.
>>> But no body was listening to them.
>> There wasnt anyone predicting it to listen to.
> Again, do your own damn research.
YOU made that claim.
YOU get to do the citing.
THATS how it works.
> Just because _You_ didn't hear them, doesn't mean they were not there.
Just because you claim they are there doesnt make it gospel.
> OTOH: Just because you hear them doesn't mean they are there either.
Just because you claim they are there doesnt make it gospel.
>>> Or worst, they were being called all kinds of bad names
>>> by the people who were making all the sub prime loans.
>> Another lie.
> Prove it!
YOU made that claim.
YOU get to do the citing.
THATS how it works.
clams_casino
>
>
>
>>>But no body was listening to them.
>>>
>>>
>>There wasnt anyone predicting it to listen to.
>>
>>
>
>Again, do your own damn research.
>
I'm quite sure Rod hears a lot of voices. Sorting them out is the problem.
Jonathan Grobe
> Say for instance you owe 400,000 dollars on a house now worth 150,000
> dollars on the distressed market...and you are late with a mortgage
> payment as your employer has announced lay offs...and your skill set
> is retail sales clerk etc.
>
clerk) don't buy $400,000 plus houses.
--
Jonathan Grobe Books
Browse our inventory of thousands of used books at:
http://www.grobebooks.com
Gordon
news:p7Mlk.182$ZV1.124@trnddc07:
> three little words: no doc loan. as soon as i became aware of that,
> i knew what would happen. and gordon, STOP FEEDING THE ROD SPEED
> TROLL. PLONK HIM!!!!!
>
>
I know. And there were plenty of experts warning us that
no-doc loans and sub prime loans, and teaser rates on
ARMs were going to bite us in the ass. Which they did.
A quick search of several web sites like Bankrate.com
(for one) shows that there were several articles in there
archives that also saw the mess comming.
As for Rod Speed, I happen to like tweeking that little
troll. Right now he wants me to educate him after the
fact. Not my job, and I have nothing to prove to him.
So I'm letting the matter drop right here. If Rod Speed
is the least bit curious, he would do his own damn research
and educate himself.
Rod Speed
> And there were plenty of experts warning us that
> no-doc loans and sub prime loans, and teaser
> rates on ARMs were going to bite us in the ass.
No one predicted that we would see operations like Bear Stearns go bust because of those, fool.
Or that banks would go bust either.
> Which they did.
No one predicted that we would see operations like Bear Stearns go bust because of those, fool.
Or that banks would go bust either.
> A quick search of several web sites like Bankrate.com
> (for one) shows that there were several articles in
> there archives that also saw the mess comming.
None of those predicted that we would see operations like Bear Stearns go bust because of those, fool.
Or that banks would go bust either.
<reams of your desperate attempts to bullshit your way out of your predicament
that fools absolutely no one at all, as always, flushed where it belongs>
phil scott
> On 2008-08-03, phil scott <p...@philscott.net> wrote:> Say for instance you owe 400,000 dollars on a house now worth 150,000
> > dollars on the distressed market...and you are late with a mortgage
> > payment as your employer has announced lay offs...and your skill set
> > is retail sales clerk etc.
>
> Frugal people (especially people whose skill set is retail sales
> clerk) don't buy $400,000 plus houses.
many did in this area, including illegal aliens on welfare.
also many in the 'management' aspect of retail sales made a little
more
money, but the skill in a bad economy goes useless even as some
requiring
much more education go useless.
Phil scott
manny
>
> - Show quoted text -
How can a retail sales clerk afford a home of this amount?????
phil scott
>
> > - Show quoted text -
>
>
> - Show quoted text -
both parents work. and the income is not documented..so the banks
used to lend that way....Ive seen some
rent out half of the rooms also.... soon most folks who bought in
the last 7 years or so will be upside down in
their houses,
then if one wage earner loses their job, or the ARM adjusts, or gas
goes much higher...the home goes into default....thats on the first
mortgage.... these begin eating a cheaper carbohudrate diet... that
prouces serious health issues about 10 years later and impedes
learning in the kids.
we should at least be thankful our CEO's are doing so well with their
incomes though... highest ever.
those holding seconds wont collect a dime... 100% loss.
i think the mess is about 20 times worse than the banks are currently
letting on.
Phil scott
h
>How can a retail sales clerk afford a home of this amount?????
They can't. That's why they're in foreclosure.
Rod Speed
Mindlessly silly.
> we should at least be thankful our CEO's are doing
> so well with their incomes though... highest ever.
So is everyone else's too. Thats what inflation means, stupid.
> those holding seconds wont collect a dime... 100% loss.
> i think the mess is about 20 times worse than the banks are currently letting on.
There's always been fools like you that claim its the end of civilisation as we know it.
Immortalist
> phil scott <p...@philscott.net> wrote:
> > On Aug 10, 1:23 pm, manny <manol...@hotmail.com> wrote:
> >> On Aug 7, 3:09 pm, phil scott <p...@philscott.net> wrote:
>
> >>> On Aug 5, 8:15 am, Jonathan Grobe <gr...@netins.net> wrote:
>
> >>>> On 2008-08-03, phil scott <p...@philscott.net> wrote:> Say for
> >>>> instance you owe 400,000 dollars on a house now worth 150,000
> >>>>> dollars on the distressed market...and you are late with a
> >>>>> mortgage payment as your employer has announced lay offs...and
> >>>>> your skill set is retail sales clerk etc.
>
> >>>> Frugal people (especially people whose skill set is retail sales
> >>>> clerk) don't buy $400,000 plus houses.
>
> >>> many did in this area, including illegal aliens on welfare.
>
> >>> also many in the 'management' aspect of retail sales made a little
> >>> more
> >>> money, but the skill in a bad economy goes useless even as some
> >>> requiring
> >>> much more education go useless.
>
> >>> Phil scott
>
> >>>> --
> >>>> Jonathan Grobe Books
> >>>> Browse our inventory of thousands of used books
>
> >>> - Show quoted text -
>
> >> How can a retail sales clerk afford a home of this amount?????- Hide
> >> quoted text -
>
> >> - Show quoted text -
>
> > both parents work. and the income is not documented..so the banks
> > used to lend that way....Ive seen some
> > rent out half of the rooms also.... soon most folks who bought in
> > the last 7 years or so will be upside down in
> > their houses,
>
> > then if one wage earner loses their job, or the ARM adjusts, or gas
> > goes much higher...the home goes into default....thats on the first
> > mortgage....
> > these begin eating a cheaper carbohudrate diet... that prouces serious
> > health issues about 10 years later and impedes learning in the kids.
>
> Mindlessly silly.
>
> > we should at least be thankful our CEO's are doing
> > so well with their incomes though... highest ever.
>
> So is everyone else's too. Thats what inflation means, stupid.
>
A simple "thats what inflation means" would do alot better than this
stupid business, it weakens your position.
> > those holding seconds wont collect a dime... 100% loss.
> > i think the mess is about 20 times worse than the banks are currently letting on.
>
> There's always been fools like you that claim its the end of civilisation as we know it.
You might do better if you claim that the person has a "foolish
position" since to argue he is one of these fools is to weaken your
argument. Only trying to help you argue more persuasively.
An Ad Hominem is a general category of fallacies in which a claim or
argument is rejected on the basis of some irrelevant fact about the
author of or the person presenting the claim or argument. Typically,
this fallacy involves two steps. First, an attack against the
character of person making the claim, her circumstances, or her
actions is made (or the character, circumstances, or actions of the
person reporting the claim). Second, this attack is taken to be
evidence against the claim or argument the person in question is
making (or presenting). ...The reason why an Ad Hominem (of any kind)
is a fallacy is that the character, circumstances, or actions of a
person do not (in most cases) have a bearing on the truth or falsity
of the claim being made (or the quality of the argument being made).
Rod Speed
Wrong, as always.
It didnt in the election campaign either, stupid.
>>> those holding seconds wont collect a dime... 100% loss.
>>> i think the mess is about 20 times worse than the banks are
>>> currently letting on.
>> There's always been fools like you that claim its the end of civilisation as we know it.
> You might do better if you claim that the person has a "foolish position"
> since to argue he is one of these fools is to weaken your argument.
Wrong, as always.
<reams of your desperate irrelevant wanking flushed where it belongs>