Politics and Religion

Except if the economy declines as a result, people can't afford pennies on the dollar.
zinaval 7 Reviews 1382 reads
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Geezer, this is actually something that happens when people think the free market has solved an inherent problem of the free market, and that's what they promoted to consumers. During the dot com bubble, people thought technology had done away with those pesky market declines.

You notice the government was bailing out this bank, just as this cartoon said it would. Very free enterprise there. The problem being if that bank folds, the consequences are going to be far worse, and it's likely going to cost more for the deposit insurance.

Deadbeats: it's part of the American Dream to own a house.  This generation couldn't afford it. What do banks do in conjunction with Wall Street? They tell people the free market has taken care of them. Why shouldn't consumers have had faith in that? This is America; isn't the market supposed to solve everything.

So, what about the banks here?  They could show profits on loans that were plainly not going to perform. Consumers could show that they owned a house. Wall Street can show a high profit on all these deadbeat real estate bonds. It was all on paper-- created by the free market. Since risk was purportedly spread out to safety, that encouraged over-extension. Moral peril is another inherent problem of the free market: that's because the higher the risk, the higher the profits that can be immediately shown on paper.  

It helped that the school system fails to teach basic math, let alone compound interest. A mere glance at the compound interest formula would make the average home buyer recoil.  

Returning to deadbeats: the problem here is due to perception that risk had been removed, everyone involved was a potential deadbeat. For every deadbeat who goes down, a bystander or two is going to be harmed here. What happens when the price of rentals skyrockets? Are deadbeats getting hurt then?

As for buying property for pennies on the dollar, that would involve getting a mortgage, which might be very hard to get for some time.


In Britain, a mortgage lender called showing that the damage from the sub-prime market isn't contained.  

There's a lot of economic news and statistics coming out next week. I guess it will decide how big this problem really is.

The comic for the alternative weeklys across the nation is just mad cause Adam Smith's free market theory works.

It's kinda like a math equation.  When all those deadbeats get thrown out of the houses that they trash, OTHER GOOD FOLKS COME IN AND BUY THEM FOR PENNIES ON THE DOLLAR!!!!!  They fix them up and flip them. And the banks that take it in the shorts for the loss tighten up their credit guide lines that results in fewer deadbeats getting mortgage loans.

THE FREE MARKET WORKS!!!  THE FREE MARKET WORKS!!

nOW, speaking of the free market.   That evil witch Hillary is so dumb.  You gotta read what she said regarding the ssi mess.

-- Modified on 9/16/2007 7:49:05 AM


Geezer, this is actually something that happens when people think the free market has solved an inherent problem of the free market, and that's what they promoted to consumers. During the dot com bubble, people thought technology had done away with those pesky market declines.

You notice the government was bailing out this bank, just as this cartoon said it would. Very free enterprise there. The problem being if that bank folds, the consequences are going to be far worse, and it's likely going to cost more for the deposit insurance.

Deadbeats: it's part of the American Dream to own a house.  This generation couldn't afford it. What do banks do in conjunction with Wall Street? They tell people the free market has taken care of them. Why shouldn't consumers have had faith in that? This is America; isn't the market supposed to solve everything.

So, what about the banks here?  They could show profits on loans that were plainly not going to perform. Consumers could show that they owned a house. Wall Street can show a high profit on all these deadbeat real estate bonds. It was all on paper-- created by the free market. Since risk was purportedly spread out to safety, that encouraged over-extension. Moral peril is another inherent problem of the free market: that's because the higher the risk, the higher the profits that can be immediately shown on paper.  

It helped that the school system fails to teach basic math, let alone compound interest. A mere glance at the compound interest formula would make the average home buyer recoil.  

Returning to deadbeats: the problem here is due to perception that risk had been removed, everyone involved was a potential deadbeat. For every deadbeat who goes down, a bystander or two is going to be harmed here. What happens when the price of rentals skyrockets? Are deadbeats getting hurt then?

As for buying property for pennies on the dollar, that would involve getting a mortgage, which might be very hard to get for some time.

rather than purchased by wealthy special interests; any and all changes in policy and taxation will be written by and for the very wealthy.

 I was ambivalent at first about Hillary's run for POTUS. As usual though the obscene amounts of money that are required to make a realistic bid for POTUS have debauched her to being merely another self serving tool of the corporatocracy and mega rich.  

why there has been historical hatred of bankers who create a market and then appear to manipulate the hell out of it?  I mean, it goes back as far as any centralized financing.

What difference does it make to the farmer or homeowner who is under pressure, sold a bill of goods, and then foreclosed on, to be told, "look, you're just one of nature's losers?"

His POV is that he's busted his ass, and you're fucking clueless if you think he's gonna roll over for some retroactive ideological justification that amounts to shoulder shrugging.

WTF are you saying, "deadbeats are folks just like you"?  Are you arguing with yourself?

Are you gonna bend over when this happens to you?  Do you have any clue about how an economy can be manipulated?  Do you have problems when a national economy is manipulated by a small group or sector to the advantage of a small group, and disadvantage of others?   Or you figure that's just part of voting Republican, that they get to fuck the mice?   has it ever occured to you that you're no cat?

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