Foreclosure activity UP 71% (Full Version)

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SilverMark -> Foreclosure activity UP 71% (10/23/2008 1:37:07 PM)

Now this is truly scary!


http://www.msnbc.msn.com/id/27329406/



Vendaval -> RE: Foreclosure activity UP 71% (10/23/2008 2:05:54 PM)

Yes, in some areas the situation has improved a bit.  But with more major businesses closing and more people unemployed other areas are going to have more difficulties in the coming months.  I am afraid there are no easy solutions for many in this recession.



HunterS -> RE: Foreclosure activity UP 71% (10/23/2008 2:32:37 PM)

Oh but there is an easy solution:
Instead of giving the 700 billion to the rich asswipes who put us in this pickle.  How about we give it to the taxpayers.
There are about 300 million people in this country about half of them are under 18 the rest are adult taxpayers.  Half of all taxpayers in this country make less than 32,000 a year.
Take the 700 billion bailout and the 2 to 3 hundred billion we are spending in the "sandbox" and give it to those 75 million taxpayers who make less than 32,000 a year.
Of course if you give money to the poor they will just spend it on foolish things like food clothing and shelter.  The makers of Hummers and G6's won't realize much in the way of increased sales so the newspapers will point out that the economy is in the toilet....which come to think of it is where it is now.
Now those of you who think that giving money to people who did not earn it is wrong need to tell me what the bankers and insurance companies did to earn the bail out money.
My point....
The rich asswipes who caused this are not hungry or loosing their homes.
H.



kittinSol -> RE: Foreclosure activity UP 71% (10/23/2008 3:11:15 PM)

quote:

ORIGINAL: HunterS

Instead of giving the 700 billion to the rich asswipes who put us in this pickle.  How about we give it to the taxpayers.



A journalist on NPR asked that very question to a so-called 'expert' a couple of weeks ago. Why no inject all that dough back where it's needed? Well, according to Mr Expert, it's because, and wait for it... *rolling the drums here*... because you cannot trust individuals to do the right thing and use the money appropriately rofl!!! Aahhh... it's funny, isn't it? Taxpayers will all go and spend that money on bonbons, so it's better where it is, in the safe, sane and secure hands of those that created the mess in the first place :-) .



NormalOutside -> RE: Foreclosure activity UP 71% (10/23/2008 3:15:52 PM)

The $700 billion was printed by the Fed and came right out of the taxpayers' pockets anyway.  The correct solution was to not print the $700 billion at all.



pahunkboy -> RE: Foreclosure activity UP 71% (10/23/2008 3:20:38 PM)

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3248857/JP-Morgan-Chase-chief-Dimon-sent-death-threats.html

I agree normal.   check out the death threats.  Gee, I wonder if anyone is pissed off.



Vendaval -> RE: Foreclosure activity UP 71% (10/23/2008 3:22:14 PM)

Why not have the mortgages bought out or paid off directly?  If the homeowners are not to be trusted?



kittinSol -> RE: Foreclosure activity UP 71% (10/23/2008 3:25:56 PM)

Ah, I don't know. Mr Expert wasn't asked that question. I suspect because of the trickle down effect: you know, when the top profits, it drips down in drops to the proletariat [&:] . But you can't trust the proletariat with money, no no no, these people will gamble it and drink it all up [:(] . 



Vendaval -> RE: Foreclosure activity UP 71% (10/23/2008 3:32:13 PM)

I have been calling the "trickle down theory" of economics the "piss in the wind" way of loosing your money for several years. 



HunterS -> RE: Foreclosure activity UP 71% (10/23/2008 4:03:36 PM)

Trickle down....is that a euphamism for "golden shower"
Don't piss on my leg and tell me its raining.
H.



kittinSol -> RE: Foreclosure activity UP 71% (10/23/2008 4:06:38 PM)

[sm=hellno.gif][sm=hardlimit.gif]



Vendaval -> RE: Foreclosure activity UP 71% (10/23/2008 4:43:17 PM)

Where's Benji when you need him?  [:D]



NeedToUseYou -> RE: Foreclosure activity UP 71% (10/23/2008 4:54:42 PM)

How come lowering property values are always painted as a bad thing. All things being equal I'd love my property value to fall, I don't plan on selling for a while, and in the mean time I'd pay less property tax (or rent extortion,because we don't have the right of property ownership, except in parts of Alaska, that I know of)

Anyway, every story always says falling property values are terrible, I really wish mine would fall to zero. I'd love it.



MzMia -> RE: Foreclosure activity UP 71% (10/23/2008 7:48:10 PM)

quote:

ORIGINAL: SilverMark

Now this is truly scary!


http://www.msnbc.msn.com/id/27329406/


What is even sadder is we have not even hit rock bottom, yet.
I heard foreclosures are going to start rising with people that CAN pay their mortgages.
They are just so fucking top heavy many will start saying "fuck it".
They are calling this new trend "Intentional Foreclosures", it is interesting.
 

New lexicon: “intentional foreclosure” « Economic Objectorvism



OneMoreWaste -> RE: Foreclosure activity UP 71% (10/23/2008 8:50:29 PM)

quote:

ORIGINAL: NeedToUseYou
Anyway, every story always says falling property values are terrible, I really wish mine would fall to zero. I'd love it.



I'd love it even more if the value of the property for sale across the street dropped to zero. I could really use some more garage space.



UncleNasty -> RE: Foreclosure activity UP 71% (10/23/2008 9:15:28 PM)

The most common lines I've heard regarding the "housing issues" are:

1) The bank doesn't want your house.

2) It is the borrowers fault.

Neither of those is the reality. Otherwise this steam roller would never have gained any steam.

Uncle Nasty



UncleNasty -> RE: Foreclosure activity UP 71% (10/23/2008 9:20:39 PM)

quote:

ORIGINAL: pahunkboy

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3248857/JP-Morgan-Chase-chief-Dimon-sent-death-threats.html

I agree normal.   check out the death threats.  Gee, I wonder if anyone is pissed off.



This line from the article, referring to comments by Mr Dimon, is priceless:

"Last week, just hours after his bank was forced to sell a stake in itself to the US government, he accused Washington politicians of worsening the banking crisis through dithering."

Uncle Nasty



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