Posted on 11/14/2008 11:51:19 PM PST by 2ndDivisionVet
Demand sets the price of items. The higher the demand the more costly an item becomes.
bump for later reading
Have you considered the possible advantage to buying 4 rifles and four handguns then caching three of each just outside your community. Should something happen to the other two such as confiscation, you won’t have to travel far before you are armed again.
>He’s talking to people already facing foreclosure. That’s not many people right now.<
That’s about 1.4 million people. There is another 2 million whose ARM loans will be up for refi in 2009.
NO KIDDING!!!
You have to remember that the government will own the banks. I have a feeling that if you’re breathing you’ll be able to get a loan. Just like in the sub prime time.
During the publicized hearings yesterday they were suggesting that the Bush administration change the law back to requiring American citizenship for real estate loans. That’s the way it was when Bush took Office. The sorry bastard!
Yes d;^)
Jorge and Juan wanted the immigrants to own homes. It’s everyone’s right, you know.
bttt for later reading
“Demand sets the price of items. The higher the demand the more costly an item becomes.”
True, but only if prices are free and allowed to rise and fall with demand. If demand for “X” increases and the government has imposed a price control on it, the increased demand will cause a shortage of “X”. If “X” is deemed a “necessity” by some “X Czar” in the government’s administration, government will then impose rationing on “X.”
Then you have an undermarket which sets the actual value for the item. Generally it is inflated but that’s life.
Yep, this article is pathetic. WHY do people not realize that when they steal, it only makes the prices go UP for everyone else?
Liberal friends of ours think it is just the right thing to do right now to use the overseas tax exclusion to travel the world while he works mostly overseas. Yet, they collect their military retirement, social security and medicare monthly. No thought that folks have to sacrifice for their monthly living. It upsets my stomach.
okay...now I understand your post!
“I watch clerks get jammed up when I give them over change to get a quarter back.”
I am not making this up. I was in a store when the power went out. The cash registers weren’t working so the young (possiby teenage) female clerk tried to figure out my purchase in her head.
She got stumped and called out to her equally vacuous female assistant, “How much is 5 times 3”
The assistant replied (all to my incredulity), “ I don’t know but I think it’s the same as 3 times 5”
And we wonder how Obama got elected.
It’s wrong to lie to buyers (e.g., “prices will continue to go up”) for the purpose of cheating them on a price in a pyramid scheme. That’s stealing, especially when knowingly taking advantage of lies already told to university students about careers.
It’s also wrong to set irrelevant credit requirements on job openings—part of another scheme to funnel ill-gotten wealth to dishonest, lazy people.
Let the house of cards fall. It’s not producing anything that we need, and its fall is inevitable and already happening anyway.
And I take it that they were both high school graduates? Wow!!
Don’t go nuts on your credit cards, but use them up if you cannot pay them”
In my book........this is downright stealing.
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At this point the credit card companies have bumped you to a 39% interest charge due to that unpaid cell phone bill from 2 months ago and “universal default” and are assessing you huge late fees and penalties in addition to increasing your minimum payment to about 5% of the balance from 2%... The credit card companies are assessing that 39% on past balances accrued at the earlier (lets say 9.9% terms) as well as new purchases ... they know you will default and go bankrupt but their game is to run up the bill as high as possible so that when the bankruptcy judge declares that you must pay back all creditors 20% of the owed amount according to a schedule that they will get more payback as the balance was inflated... they play the game according to the rules they bought from congress ... you’ve gotta play the game right back... you’ve gotta conserve cash ... it’s your only hope in that situation.
>>>Some of his suggested tactics are debatable and somewhat immoral. What do you think?<<<
Agreed. Any civilized system depends first and foremost on trust - faith in the rule of law, faith that a contract will be upheld, faith in the dependability of the economic system.
His retrospective analysis about the value of housing and the move from mortgages into rentals seems reasonable, considering many people had been saying the same sort of thing about overinflated housing prices in the past few years.
The call to just stop paying the mortgage and max out of the credit cards, though, is presented as a strategy without much appreciation about the impact it would have on communities and society. A reasonable consequence of, let’s say, 10 percent of homebuyers deciding at once to stop paying the mortgage and maxing out the cards would be economic calamity as banks and other lenders are left without capital. The emotional impact of seeing your neighbors living for free while you’re paying the bills... well, it seems that it would cause social chaos and confusion of one sort or another. Either everyone would jump on the bandwagon, or neighbors would be forced to seize the property of neighbors... it’s hard to tell, but hard feelings would certainly occur.
There is one consequence, however, that has some predictability according to history. In places experiencing chaos and a lack of social cohesion, people often choose a tyrant to lead them out of misery. I would not put that past anyone, including Americans. And that is the real point that the grand experiment in representative government dies.
Who is Hank Paulson and why should I care.
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