For Toppy: bad credit tops terror as risk to economy

Topspin said:
Is there a point to your post onemoron.
Where did I say forclosures are good
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Do you deny downplaying foreclosures & mortgage debt, and ridiculing those who warned that they might have an adverse effect on the economy?

Do you really deny that one, tops?
 
I stick by morons taking mortgages that they can't afford
and bankers who made shitty loans losing thier jobs.
Last GDP report was up 3.4% so dispite you two chicken littles crying from the mountaintops there has yet to be a major impact.
 
In tops defense.. he has from the very beginning said the housing market was a bubble. And that we should take 2000 value and add 6% a year from that to realize where the bubble will deflate 2.

And that is 90% of this particular credit crunch.. people spending over inflated equity.
 
Tops speaks out of both sides of his mouth; as long as HE says it, foreclosures & overborrowing can be a problem, but if someone else says it, they're a moron chicken little Chavez lover coffee fetcher.
 
Topspin said:
I stick by morons taking mortgages that they can't afford
and bankers who made shitty loans losing thier jobs.
Last GDP report was up 3.4% so dispite you two chicken littles crying from the mountaintops there has yet to be a major impact.
Click to expand...

The only reason this hasn't spilled over more than it already has is that the Fed continues injecting cash into the market. Yes, the bulk of the economy is strong, but we have yet to see the true impact of the sub prime debt problems. Most of the ARMs issued in 2005 adn 2006 have yet to reset rates. That will begin next year.

The Fed should stay the hell out of it. They should let the true pain of this hit the market... because as a society we obviously have already forgotten the late 80's pain.... because they bailed out the S&L's then, just as they are bailing out lenders and holders of CDOs now.

Anyone else note that after BofA took a loan from the discount window that they turned right around and bailed out Country wide? (or at least are attempting to)

They are digging the hole deeper while pretending that they are helping the situation.

When the Fed injects cash into the system, the banks give the Fed securities in exchange for the cash. Who wants to take a guess at what securities are being handed over?

We are so used to the government running up our debt.... who better to hide the true losses of the sub prime debt?
 
it's great having at least 4 or 5 other market savey people.
I seem to be the only dem that is and the other turbo-libs troll for negative info an try a gottcha on me cause I'm pro investing.:clink:
 
Superfreak said:
The Fed should stay the he** out of it. They should let the true pain of this hit the market... because as a society we obviously have already forgotten the late 80's pain.... because they bailed out the S&L's then, just as they are bailing out lenders and holders of CDOs now.
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I agree.
 
Topspin said:
I stick by morons taking mortgages that they can't afford
and bankers who made shitty loans losing thier jobs.
Last GDP report was up 3.4% so dispite you two chicken littles crying from the mountaintops there has yet to be a major impact.
Click to expand...
and the GDP/GNP are as false an indicaters as you can get. you just don't realize it yet. Itsa cumin down the pike.
 
Topspin said:
onedumbass why not take me up on specific facts instead of this troll bullshit
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How much more specific do I need to get?

I have told you for over a year that over-borrowing & credit debt are going to end up undermining the economy, and you have called me a turbo libby false outrager, and made fun of my job, and beat your chest to tell all of us how much you earn....and now, a bunch of economist agree with ME.

That's pretty specific, tops. You were wrong; I was right.
 
Chapdog said:
In tops defense.. he has from the very beginning said the housing market was a bubble. And that we should take 2000 value and add 6% a year from that to realize where the bubble will deflate 2.

And that is 90% of this particular credit crunch.. people spending over inflated equity.
Click to expand...

I just hope thatit happens soon and quick. I want to buy a house. I'm putting it off because I'm waiting for it to fizzle out.
 
Umm from what I have read home prices are expected to drop further.
Of course it depends somewhat on your area.
 
uscitizen said:
Umm from what I have read home prices are expected to drop further.
Of course it depends somewhat on your area.
Click to expand...

my area is totally over priced. The prices have been falling but people are so unwilling to drop prices its ridiculous.
 
Home Sales Hit Slowest Pace in 5 Years
Monday August 27, 11:04 am ET
By Martin Crutsinger, AP Economics Writer
Existing Home Sales Drop in July to Slowest Pace in Nearly 5 Years

WASHINGTON (AP) -- Sales of existing homes dropped for a fifth straight month in July, falling to the slowest pace in nearly five years, while home prices fell for a record 12th consecutive month.

The National Association of Realtors reported that sales of existing homes dipped by 0.2 percent last month to a seasonally adjusted annual rate of 5.75 million units.


The median price of a home sold last month slid to $230,200, down by 0.6 percent from the median price a year ago. It marked the 12th consecutive month that home prices have declined, a record stretch.

http://biz.yahoo.com/ap/070827/economy.html?.v=13
 
onecelordumbass,
we'll see whose right.
I CORRECTLY pointed out to you that assets are up way more than debt.
Your a one sided fear mongerer who's afraid of his own shadow. So now what for 9 months you've predicted recession. Keep doing it, eventually you'll be right. IT'S CALLED THE BUSINESS CYCLE.:clink:
 
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