http://realestate.msn.com/blogs/listedblogpost.aspx?post=592349e6-fa4b-46ee-aebd-c44dec53ad7a>1=35012 You may not agree with some of the comments made at the bottom of the article but it does offer a view into the way many Americans view the cause of this catastrophy.
There was never a doubt. The first domino to fall was the housing market. Fannie and Freddie, with the help of Bawney Fwank, were threatening banks to lend money to everyone, regardless of their credit rating, so they did and here we are...
according to the stock channel this morning the same thing is happening to China and will happen in the next 6 mos.
But we oughtta cut social security for everyone because damn......these must be idiots thinking that one day when they retire they would have equity in their homes and also for working their lives away at jobs that have no retirement plans. Just because two or three generations before them could count on such stalwarts of the American dream doesn't mean this aging baby boomer population should have been able to count on it. Friggin idiots I tell ya........pennies in the piggy bank in the basement is where it's at!! :roll: 8)
:roll: What part of "we're going broke" don't you understand? Social Security, Medicare and Medicaid are all running out of money at the same time. If we do nothing, we lose all three and end up with zero. This is the Democrat's current plan. Obama didn't even mention them in his State of the Union. The idea is to criticize the Republicans for "attacking" the programs, when they're actually trying to save them, while Democrats continue to get elected and expand the size of the government even more. Stalin used to call American liberal Democrats "useful idiots" for tactics like this...
can you please explain to me what the ____ social security has to do with the housing market. ...... I will explain this once more and only once more... The housing downfall was caused because banks were made to give loans to people who couldnt afford them... Freddie and Fannie gave loans to people making less than $8.00 an hour on a 300M or 400M mortgage something on 2 incomes Jim and I wouldnt have even risked. I worked for a bank that was considered a predetor lender. trust me I have seen it all.... Yes the poor people tried to make their pmts but the cards were stacked against them. from the beginning then when all the foreclosures and new construction stopped because there was no need for new housing. everything crumpled. and the banks started taking their losses. some tried to rewrite or restructure loans but the citizens couldnt even qualify to do that.... YOU CANT HAVE SOMETHING FOR NOTHING AND THATS WHAT THEY WERE BASICALLY PROMISED. BY BARNIE FRANK AND MR DODD/// PLEASE NOT EVERYONE LIVED YOUR GOOD LIFE BUT ALOT OF PEOPLE WERE PROMISED A DREAM THAT COULDNT BE DELIVERED.I AM NOT SURE WHY YOU JUMPED FROM THE HOUSING MARKET TO SS.. bUT i WILL BE ABLE TO COLLECT MINE SOON i WONT FEEL BAD ABOUT TAKING IT EVEN IF I DONT NEED IT. I PAID INTO IT FOR 43 YEARS. mAYBE IN THE INDUSTRY YOU WERE IN YOU NEVER DELT W. PEOPLE MONEY AND THE PURCHASING BUT I HAVE I HAVE SEEN CARS,BOATS,HOUSES, ALL TAKEN BECAUSE THEY WERE ALLOWED TO BUY SOMETHING THEY COULDNT AFFORD. AND THAT HURTS EVERYONE IN THE LONG RUN . HIGH INTEREST RATES ARE CAUSE BY DEFAULTS ON BALANCES. AND THIS YOU CANT AGRUE WITH ME THE BANK AND FINACE COMPANY I WORKED FOR WAS THE WORLDS LARGEST AND LARGEST HOLDER OF PRIVATE CREDIT CARDS I HAVE COLLECTED ON ALL FROM FIRST STAGE OF DELQNCY TO CHARGEOFF/////// AND THAT WAS MY LIFE FOR THE LAST 43 YEARS.
:twisted: AAHHHHHHHHHHHHH Again what does social security have to do with housing NOTHING at least stay on the subject only crap...... My being eligible for ss has nothing to do with the housing market here or in China
re: trying to save them The Ryan Plan was meant to be a starting point for discussions. It attempts to make changes in these plans, so that $6.5 trillion will be saved over the next ten years. Even that won't be enough though, we actually need to save more than $9 trillion in that same time period or all three could still go under. The problem of course, is that the lib/Dems have proposed zero changes to these programs and refuse to offer any suggestions. This way they can demagogue the issue by claiming that the Republicans are "trying to hurt" the programs. What happens if the Democrats win on these issues? About the time that you go to collect on Social Security and Medicare in about ten years, there will be nothing there. Zero, nada...zippo. If the Republicans can save these programs, you get everything. There's nothing in the Ryan Plan or any other Republican proposal that would change anything for your age group. :idea:
Saved from where specifically? Extra funding seems like a solution but the GOP is dead set against that......not all bad but I go back to blood from a turnip.......saved from where?
Ahhh...extra funding. Read this slowly, Dave; The....rich....that....you....hate....don't.....have....enough.....money.
.....and that is a fact. I'll repost an earlier nugget I passed along regarding our federal budget mess. Nothing has changed since it's last posting....oh wait, that's untrue, we've added another $100 Billion in debt since then and will continue to do so each and every single month before somebody finds the stones to address the issues So again....what Stu said. Now dear Gator, extra funding (aka raising the tax burden on the private sector) can't possibly fix the problem but will in fact shrink the ultimate source of any government "funding", what suggestions do you have for your President? Now you've taken EVERY nickel of the rich that you so detest, you still have a record deficit, what now?
Nobody wants more taxes......so saved from where exactly? We could start by getting the hell out of every expensive war we are in.
Let's put things in perspective here......annual budget $ Budget Deficit = $1,300 Billion ($1.3 Trillion) Afghan War = approx $100 Billion Social Sec, Medicare, Medicaid = $1,600 Billion ($1.6 Trillion) Excellent start, you've come home from Kabul and still have the largest budget deficit in the history of the world......now what?
We should start by shitcanning Obamacare which is another doomed-to-fail social welfare program like Social Security and Medicare. Hawaii tried agree a free health care program. It failed. Mass. Will be no better. Bernie Madoff would be proud of these schemes.
So what's a doable proposal regarding these programs? And remember the "you can't get blood from a turnip" concept.
Doing nothing is clearly not an option......again Mr. President, leadership on the great issues confronting our country is THE single greatest responsibility of the job......he and his party are desperately trying to duck the issue and attack those with the political courage to seek solutions.....they have yet to provide any other than to make a bigger hole from which to climb....what suggestions do you have for the President.... You've brought the boys home from Kabul, you still have the largest budget deficit in the history of the world and the dynamics of its makeup are such that left alone, it only gets bigger at an accelerating rate......what suggestions do you have for your President?
Obamacare must go. Get out of Afghanistan and Iraq immediately.Stop our military involvement in Libya and Yemen immediately. Allow the Muslims to kill one another. Stop all foreign aid immediately. Lock down our borders with all the troops coming home. Start closing down all but the most important foreign military installations. Close down the Dept. Of Education. Fire all the Czars. Everyone on public assistance will be expected to do some kind of public work to offset the expense. Abolish the tax code in its entirety. Establish a flat tax, both personal and corporate. There's some leadership ideas. When do I start?