Do they NEVER learn ?

[ironglow]

  The housing bubble was the prime mover of the financial crunch of 2008 which along with Obama's help, built into the recession we now have.  The problem was caused by the govt forcing banks to loan mortgage money to people with no down payment, a poor credit score, sometimes not even working ...and not likely to repay the loan in a timely fashion.  That was a huge mistake!   ..But hold your breath.. the Obama administration wants to make the same dumb move all over again.
                 http://pubcit.typepad.com/clpblog/2013/04/obama-administration-wants-to-loosen-home-loan-availability-for-people-with-weak-credit.html
 
   What is it called.. when somebody makes the same stupid moves again and again.. hoping for a different outcome?
 

[spruce]

Stupidity.......or liberalism - the terms are interchangeable.

[two-blocked]

Lies of omission, read the whole article
 
http://www.washingtonpost.com/business/economy/obama-administration-pushes-banks-to-make-home-loans-to-people-with-weaker-credit/2013/04/02/a8b4370c-9aef-11e2-a941-a19bce7af755_story.html

[Oldshooter]

President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.

First of all, the "Housing rebound" is a crock. More PR for bad economic policies. Kinda like GM repaying debt cause barry saved em. If it(housing) is rebounding its doing it inspite of this regimes sabatuge. Cause people with income(Rich people to barry) can still afford a house.
 
 
Next, The reason people have bad credit is due to the fact that they dont pay their debts. Heck, Maybe the next thing this clown will do is make the credit bureau's artificially raise the scores of his constituants to protect the "vunables" who have suffered from economic discrimination.   
 
Check my link, Barry wont be happy till this country tanks .org

[Gary G]

  The housing bubble was the prime mover of the financial crunch of 2008 which along with Obama's help, built into the recession we now have.  The problem was caused by the govt forcing banks to loan mortgage money to people with no down payment, a poor credit score, sometimes not even working ...and not likely to repay the loan in a timely fashion.  That was a huge mistake!   ..But hold your breath.. the Obama administration wants to make the same dumb move all over again.
                 http://pubcit.typepad.com/clpblog/2013/04/obama-administration-wants-to-loosen-home-loan-availability-for-people-with-weak-credit.html
 
   What is it called.. when somebody makes the same stupid moves again and again.. hoping for a different outcome?

Nope, the 2007-8 crash was caused by a housing boom created by Greenspan and Bernanke expanding credit and lowering interest rates in 2001. The government was complicit after the fact. The 2000 dot com crash was caused for the same reason. Fed induced bubbles always pop because the easy money causes mal-investment in capital assets when the the demand for these assets will not be there. This is the Austrian Business Cycle Theory. They are blowing a bubble in something now. If you can determine what it is, you can make a lot of money shorting it just before it crashes. Many think it is the bond market. Unfortunately, every time the Fed does this, the debt increases substantially and that will be the cause of the final calamity. All of this was completely unnecessary and is a result of a fatal flaw in the theories of John M. Keynes that government adopted about 80 years ago. Most politicians were lawyers and are economically clueless. Why is it that most people look to them to fix things?

[Anna]

The reason the majority of people now have bad credit is because they were not responsible for
Obamas recession. A head of household that held down a job for years and was making his house
payments woke up one day laid off . I will not agree with that bum assumption as the same thing
the banksters call it for unfortunate people who did nothing to deserve this .
Don't tell me that's just the ebb and tide , not on a scale such as this .
Creditors who were sending out credit cards like it was candy back in the Bush years are just as
responsible for the bad debt as the card holder is .
Why should they get special privileges going after people the people didn't cause this DC did.
I'm sick of hearing I pay my bills . Good what do you want a medal or a chest to pin it on ?
That just means you were lucky enough to not to get caught up in this mess is all .
We are taking about millions of displaced family's here not some welfair bum on skid row .
No wonder the commies are doing so well. We tell these people to get a lawyer and fight it .
Duhhh! If they could afford a lawyer they wouldn't be in this situation in the first place .
LAWYERS ! 


What good are you people going to be if your on disability , pensions ,retirement , or unemployment
when that well runs dry ? A nest egg ? Like that money is going to be any good .
Then when the creditors come suing you will you be called a bum also ?
Not even creditors how about your property taxes or taxes in general ?
If you don't have the money then you don't have the money its as simple as that .

[GrassLakeRon]

Stupidity.......or liberalism - the terms are interchangeable.

Spend time in a classroom?  Read on FDR and government programs to turn the US around.  That was a liberal or did Glenn Beck tell you different.

Ron

[Oldshooter]

Henry Mogenthau JR. said that had they not spent so much trying to stop the depression it would have lasted ten years less. He also said this
 

"We are spending more money than we have ever spent before and it does not work. I want to see this country prosperous. I want to see people get a job. We have never made good on our promises. I say after eight years of this administration we have just as much unemployment as when we started and an enormous debt to boot."

Sounds familiar to me! and NO, They never learn.

[GrassLakeRon]

Henry Mogenthau JR. said that had they not spent so much trying to stop the depression it would have lasted ten years less. He also said this
 

"We are spending more money than we have ever spent before and it does not work. I want to see this country prosperous. I want to see people get a job. We have never made good on our promises. I say after eight years of this administration we have just as much unemployment as when we started and an enormous debt to boot."

Sounds familiar to me! and NO, They never learn.

Yet how many families survived the depression?  Yours?  Mine did  after the layoffs.  Countless odd jobs and major family moves.  Middle class to bread lines when business cuts and runs in hard times.... sounds like now ah?  Btw your friend also liked social security.  If a nation is measured by its people, its all its people not the current employed.  What is the percentage of Americans living paycheck to paycheck ? Two paychecks away from living on the streets?  Oh I forgot that's due to a meth habit or bad planning..... great thread....


Ron

[Oldshooter]

My family survived the depression, and would have been better off had your friend not spent so much money. No one brought up meth habits, but bad planning and meth habits are symptomatic these days as well.

[GrassLakeRon]

My family survived the depression, and would have been better off had your friend not spent so much money. No one brought up meth habits, but bad planning and meth habits are symptomatic these days as well.

Well let's see,  I hunt the forest that was replanted by the CCC, money well spent.  I use the power for the TVA at the lowest per watt of any power companies, money well spent.  My mother and grandmother are using social security so they don't need me to pay for them, money well spent.  Kept many families alive which later became taxpaying workers that lead to the US being number one through the 20th century, money well spent.

Two wars and a tax cut ..... money spent.... and he didn't even give the army what they needed to fight them.  I can't tell you sending steel to up armor the Humvee my nephew was in.

Ron

[Oldshooter]

Well pardner it seems that no matter what is told you. you refer to your talking points. The secretary of the Treasury for your hero said that they spent to much money! and it made the depression last longer than it should have. Maybe your familiy would have faired better had the depression ended sooner. Repeat what you will and I will as well.
 

"We are spending more money than we have ever spent before and it does not work. I want to see this country prosperous. I want to see people get a job. We have never made good on our promises. I say after eight years of this administration we have just as much unemployment as when we started and an enormous debt to boot."

Sounds kinda like barry's plan huh?

 
 

[Anna]

My family survived the depression, and would have been better off had your friend not spent so much money. No one brought up meth habits, but bad planning and meth habits are symptomatic these days as well.

Ain't that the truth , talk about a zombie apocalypse just take a look at any heavy meth user .
The only difference between them and a zombie is a meth head no longer has any teeth to bite
anyone with .   

[ironglow]

Currently 35% of home sales are cash deals. The same players are back as buying consortiums_ _buying back the homes at bargain basement prices in certain markets and why there seems to be an upturn in sales... They intend to flip these to foreign investors or buyers and many turned into rentals and other hedges. Likely home ownership will turn more into the Euro model where the vast majority of folks rent. I really don't think banksters are loosening credit qualifications in this economy...Cash is king to buy real property and cash might not be worth anything soon..
.
 
IG,> the thing to put Oblama under the microscope for, is that he's caving on Medicaire and Social Security cuts_ _I thought Romney-Ryan lost the election.... ...Just goes to show--no real difference in the Duopoly.
.
.
.TM7

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
  Relax.. The socialist-in-chief won't allow the cuts without doubling the price in new taxes..

[vabeachman]

Just some social engineering. I see President Obama appointed one the Goldman Sachs guy as ambassador to Canada.  He is really tough on them financial whizzes.  TVA stole that land from those people, gave them pennies on the dollar.  So many people don't spend enough time thinking about when the government comes to steal their land and give to a business.  Biggest complaint I heard from CCCers was there wasn't enough shovels to lean on.  Some people believe it is alright to forcibly take from others and give it away to someone else.  To many people are easily bought.

[Oldshooter]

There is a special place in the Tennessee Mountains called Cades cove. It was discovered (by white men) in 1820. settled and cleared. There are at least three churches there with small community grave yards with lots of infant children buried there, and several generations as well.
 
In 1927 the government decided it was such a nice place that it would make a great national park. Bought out the owners(whether they liked it or not) and made it a national park.  Just guessing no one got rich.
 
I'm thinking that had several of my children died there. and I had worked my behind off clearing land and suffering the cold winters and fighting for my survival. I  am not sure I would have accepted the generous offer of the benevolent government.   

[GrassLakeRon]

There is a special place in the Tennessee Mountains called Cades cove. It was discovered (by white men) in 1820. settled and cleared. There are at least three churches there with small community grave yards with lots of infant children buried there, and several generations as well.
 
In 1927 the government decided it was such a nice place that it would make a great national park. Bought out the owners(whether they liked it or not) and made it a national park.  Just guessing no one got rich.
 
I'm thinking that had several of my children died there. and I had worked my behind off clearing land and suffering the cold winters and fighting for my survival. I  am not sure I would have accepted the generous offer of the benevolent government.   

That I whole heartily agree with you on that.  Often times when thinking about the greater good they miss the important dreams of others.  Yet eminate domain has in most cases benefited a much larger group unless of course you are native American.  There is a fine line here between when government should step in and when they should leave things alone.

Ron

[blind ear]

Yet eminate domain has in most cases benefited a much larger group unless of course you are native American.  There is a fine line here between when government should step in and when they should leave things alone.
Ron

-
Not in recent years. The Supreme Court ruled that government could take land and turn it over to developers "for the improvement of the community and increasing economic activity". Of course most was turned over to real estate agents and much of that property has been all but abandoned now. Appears they went against the constitution to me. ear

[dakotashooter2]

The problem with such a law is that there is no requirement that a need for the land is PROVEN or a development plan is followed through with............