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by truthwillsetyoufree from Titusville

Last Post 53 days, 21 hours Ago


Free Fallin'
Jan 22, 2008 | 6:36 AM
Category: News
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It looks like the american housing market is really starting to take its toll as global markets plummet.  I don't feel a bit sorry for the real estate speculators and lenders taking a hit because it's their fault to begin with.  How much do you want to bet, though,that congress still doesn't have the spine to make any significant reform of banking regulations?  It really got under my skin wathcing the dem. debate last night, when they made the assertion, on MLK day, before the black caucus that it is a race problem.   It is an AMERICAN low to middle income problem.   It is an ALL american problem.  I hope people start pulling their money out of the banks in general and really fudge up their profit party.
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northton read my blog view my photos
Jan 22, 2008 | 7:08 AM

The stock markets ain't plummlin'! That's just a liberal conspearcy, tryin' ta make us feel bad! SheeeeSH!!!
truthwillsetyoufree read my blog view my photos
Jan 22, 2008 | 7:18 AM

10% plus......we'll see it could be manipulation to prod along the "stimulus package", but if it were conspiracy, liberal it is not.
truthwillsetyoufree read my blog view my photos
Jan 22, 2008 | 7:51 AM

P.S. Lou dobbs just lost all my respect, giving Bush kudos on the proposed stimulus package. I thought he was more intelligent than that.........fool me once. Patsie cake, Patsie cake, puppet press; two whores squeeze into the same black dress.
thewizard read my blog view my photos
Jan 23, 2008 | 10:26 PM

"I don't feel a bit sorry for the real estate speculators and lenders taking a hit because it's their fault to begin with."

That's a pretty stupid idea you have there, pal, and a pretty weak understanding of the problem.

1. Only 6% of loans are in default
2. These loans DO reflect persons of lower-to-middle income who are in default, however it was the Congress that mandated that lenders make loans to persons of lower income who couldn't afford them.

What you don't seem to understand is that the banks pretty much knew what they were doing, and the Congress that didn't came in and mucked up the works. Speculators speculated because Fannie Mae assumed a lot of their risk and the lowered rates made the speculation so attractive.

The 'flip this house' crowd spoke about easy money and forgot to mention that rapid real estate speculation is high risk.

What the fed needs to do now is to step back and allow the market to correct itself, which is about 50% done already. Building of new homes is down, lending is flat right now. As speculators return to the markey, they'll absorb the influx of unappreciated real estate and slowly increase the excess in supply, until the demand exceeds the existing inventory, and building will recommence.

Believe it or not, this already happened once in the late 80's
northton read my blog view my photos
Jan 23, 2008 | 11:16 PM

Yeah, the S&L scandal.

Well I see Wizzy is writing fantasies again.

Wiz, it wasn't congress that caused this mess, it was the lending industry. Some people need to go to jail for this, but all I see is another bailout. Take from the poor, give to the rich.
northton read my blog view my photos
Jan 23, 2008 | 11:21 PM

I hear the wiz is really a nice guy. He just pretends to be a pompous BLEEP.
truthwillsetyoufree read my blog view my photos
Jan 24, 2008 | 3:59 PM

possibly. it can happen to anyone
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truthwillsetyoufree

I'm a working class white man in my mid 20's. I am politically and religiously independent, although I consider myself a conservative. The intent of my blog is to engage people to further the understanding that the two party system is a farce and is stifling democracy.

Member Since: 4/9/2007


 

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