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great economy, blah blah...

 
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Aske
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great economy, blah blah...
« on: September 18, 2007, 07:46:33 AM »

http://money.cnn.com/2007..._way_up/index.htm?cnn=yes
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Walfredo
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Re: great economy, blah blah...
« Reply #1 on: September 18, 2007, 07:53:10 AM »

The only thing that makes my mortgage rise is property taxes and my county assesor believing my house still appreciates 10% per year in this depressed market.
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Fuzzy
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Re: great economy, blah blah...
« Reply #2 on: September 18, 2007, 07:54:23 AM »

Stock market is up today.  Devil



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Aske
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Re: great economy, blah blah...
« Reply #3 on: September 18, 2007, 07:55:33 AM »

Stock market is up today.  Devil





just further proof the game is rigged for the 'haves'
 Shocked
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Russia has invaded a sovereign neighboring state and threatens a democratic government elected by its people. Such an action is unacceptable in the 21st century.
--  Chimpy McFlightsuit, CEO of Bu$hco Industries of 'Merka
Uisce Beatha
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Re: great economy, blah blah...
« Reply #4 on: September 18, 2007, 08:00:09 AM »

Are you suggesting a faltering economy is the primary cause of increased mortgage defaults?  Or the other way around?  Or both?  Or neither?

While everything economic depends on everything else I submit that higher mortgage default numbers are increasingly inevitable these days.  You take the knuckleheads pimping unsafe products, add the knuckleheads buying them and it's a recipe for disaster.  In my view there's not much difference between a drunken weekend in Vegas with your 401K money and an interest-only (or less) mortgage betting on the come that your house will be worth 40% more in five years.  A few years ago I didn't think it could get crazier than 125s but those seem relatively sane at this point.  I think many of the products/practices currently in play should be outlawed.  That's not a very 'small government' attitude, I know, but it seems we have to protect the idiots from themselves.  Weed out the crap products and the people who make a living off them.  Those folks will land on their feet selling cellular phones and vinyl siding so it won't be an unemployment increase at all. 

'Tis part of the economic woes of this country certainly but I don't think it's because of decreased buying power.  More like a decrease in logical thinking. 

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Aske
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Re: great economy, blah blah...
« Reply #5 on: September 18, 2007, 08:01:57 AM »

both
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Russia has invaded a sovereign neighboring state and threatens a democratic government elected by its people. Such an action is unacceptable in the 21st century.
--  Chimpy McFlightsuit, CEO of Bu$hco Industries of 'Merka
Fuzzy
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Re: great economy, blah blah...
« Reply #6 on: September 18, 2007, 08:02:21 AM »

Stock market is up today.  Devil





just further proof the game is rigged for the 'haves'
 Shocked


I guess I don't see it that way.  Smiley

{edit} comment directed more at the mortgage "crisis" situation. Uisce pretty much summed up my feelings.
« Last Edit: September 18, 2007, 08:07:37 AM by Fuzzy » Logged Return to Top

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Walfredo
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Re: great economy, blah blah...
« Reply #7 on: September 18, 2007, 08:17:41 AM »

Don't forget those morans still think a home is an asset.  Which it is of course if you are renting it out and not living in it while using it as an ATM. 
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For hither not, I am the stallion.
Come fear, come love, I am the stallion.
You know that I am the stallion, mang.
I am, I am the stallion, mang.
You know that I am the stallion, mang.
I live, I walk, I am the stallion, mang.
Uisce Beatha
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Re: great economy, blah blah...
« Reply #8 on: September 18, 2007, 08:18:26 AM »

Stock market is up today.  Devil


just further proof the game is rigged for the 'haves'
 Shocked

"Of course the game is rigged. Don't let that stop you - if you don't play, you can't win." - Robert Heinlein

And it's a lot more than your 'haves' who are playing the game.

I'm not sure if I'm a have or a have-not but I love it when my measly retirement accounts increase in value.  I guess I'm probably not a have as my basement is unfinished.  I'm probably not a have-not as I do have a basement to be unfinished.  I'm probably somewhere in the middle with the other 200 million+ Americans vested in retirement plans, mutual funds and the market in general.
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"If you're darker than a caramel, Reverend Al speaks for you." - Aasif Mandvi
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hobbit
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Re: great economy, blah blah...
« Reply #9 on: September 18, 2007, 03:14:14 PM »

Stock market is up today.  Devil


just further proof the game is rigged for the 'haves'
 Shocked

"Of course the game is rigged. Don't let that stop you - if you don't play, you can't win." - Robert Heinlein

And it's a lot more than your 'haves' who are playing the game.

I'm not sure if I'm a have or a have-not but I love it when my measly retirement accounts increase in value.  I guess I'm probably not a have as my basement is unfinished.  I'm probably not a have-not as I do have a basement to be unfinished.  I'm probably somewhere in the middle with the other 200 million+ Americans vested in retirement plans, mutual funds and the market in general.


Ding, ding ding!  We have a winner.

Almost ALL of us are 'in the market' - not just the 'rich'.  My 401k, Roth, IRA, etc., all increase in value when the market goes up - is this all it takes to make me a 'have'??  (I guess the fact that I have more than just a 401k may, but thats just cause I'm single - and trust me, getting raped on taxes as a result - *fudge* anyone that thinks I'm getting special breaks, loopholes, etc. - you know not what you speak of).

Aske is correct that is 'both' - its a terrible feedback loop.  But I'm not completely sold on further regulating the industry.  Let fools be fools and pay the price - its a self correcting practice and people will learn.  There is, however, an undeniable impact (not nearly as big as its being made out to be, but panic is not rational is it) on the overall economy - do we need to shield the fools from themselves, or the rest of 'us' from the fools?  The latter sounds better but I have no idea how to accomplish that without the former.  One thing I do know, is that if there is any bail-out at all, new regulations are a must as well - otherwise you're setting a precedent that could be repeated ad nauseam.

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