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invite response
2005 Apr 11, 5:00pm 186,696 views 117,730 comments
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Bellingham Bill
2013 Dec 22, 6:33am
Someone with $1,000,000 in the bank (or available credit) can command 50 man-years of labor at $10/hr.
That's power.
Our mass media is all pay-for-play. No money, no message.
Politics, same thing, and this is related to the corrupt mass-media thing.
Our economy is still a land-based economy, too. Try living without food, clean water, material goods, or a place to sit in peace.
While ag and mine employment is small, this sector's surplus provides all of us the wealth we need to make our own production. And those who own the primary sector are doing pretty well now.
Bellingham Bill
2013 Dec 22, 6:36am
busts are marginally leveling only for a short time
What busts really do is increase concentration, from weaker to stronger hands.
Uncle Warren got through the recession fine. More than fine.
Millions of Casey Serin-type individual operators got shaken out of the real estate biz, to be replaced by the pros.
tatupu70
2013 Dec 22, 6:37am
What busts really do is increase concentration, from weaker to stronger hands.
Agreed. It's worse than I said--there is a short leveling until the economy recovers and then it's worse than before.
Homeboy
2013 Dec 22, 7:55am
Ten Pound Bass, Dan, zzyzzx, errc, thomaswong, Call it Crazy, and all the others here who complain about the individual mandate should be happy now, but somehow they aren't. ???
Ten Pound Bass, zzyzzx, errc, thomaswong, Call it Crazy, and all the others here who complain about the individual mandate should be happy now, but somehow they aren't. ???
someone has to fix it now...energy, time and effort that should have gone to create more jobs!
Homeboy
2013 Dec 22, 8:13am
Wait, Mr. Cheerleader, if O'care is SO wonderful like you claim, why did the the main band leader have to pull his signature achievement???
At what point, do YOU admit it's a disaster??? Your fearless leader is starting to wave the white flag....
Wow, so funny. I can't even tell you how many arguments I've had on this forum where you guys said there shouldn't be an individual mandate. I argued that it was necessary, and basically got called an idiot for doing so.
Well now you guys are saying the individual mandate has been dropped. That should make you HAPPY, because it's the exact thing that you have been griping about for the last 2 years. But no, it just makes you MORE angry. Whatever....
Homeboy
2013 Dec 22, 8:14am
According to the prevailing wisdom here on PatNet, we don't NEED an individual mandate. So let's see how well THAT works out...
IN A FREE MARKET, lenders who are bad judges of credit risk lose money, but when conservatives control the government, the banks just run to the government for help.
Free market s/he says... oh thats rich...
http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html
Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
Published: September 30, 1999
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''
------ does the last para. ring a bell of what happened down the road....
According to the prevailing wisdom here on PatNet, we don't NEED an individual mandate. So let's see how well THAT works out...
worked out for who... did the last 2- 3 years better be spent growing industries and
creating jobs in the USA.. or distractions running after the Liberal agenda regarding health care.
is that really what has been the most important topic on the national agenda ?
Homeboy
2013 Dec 22, 8:44am
No, we argued that there shouldn't be any Obamacare.... Period...
Here is a thread where I argued that dropping the individual mandate alone would be a bad idea, and where curious2 argues that dropping the individual mandate alone would save money:
/?p=1216914&c=876783#comment-876783
Funny - NONE of the people I mentioned agreed with me at the time. But now, you all seem to believe that dropping the individual mandate is a bad idea. I guess it wasn't a bad idea when I said it was, but it automatically became a bad idea when Obama DID it, huh?
Homeboy
2013 Dec 22, 8:49am
is that really what has been the most important topic on the national agenda ?
Yes, I think the fact that we had the worst healthcare system of any industrialized country, millions of uninsured Americans, and double-digit annual price hikes made it the most important topic on the national agenda. Sorry you don't agree.
worst healthcare system of any industrialized country
define worst compared to Canada, Japan, and UK ?
they have shortages and waiting lists... i cant think of anything
worst than someones fixes your issue some 6-9 months down the road..
millions of uninsured Americans
Jobs... Jobs... Jobs.... lets get the first thing done first..
Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...
Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...
Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...
Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...
Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...
Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...
Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...
Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...
Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...
Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...Jobs... Jobs... Jobs...
double-digit annual price hikes made it the most important topic on the national agenda. Sorry you don't agree.
allow for competition... its not that hard...
Homeboy
2013 Dec 22, 8:56am
allow for competition... its not that hard...
We already HAD a free market insurance system. It didn't work.
Homeboy
2013 Dec 22, 8:57am
Funny - NONE of the people I mentioned agreed with me at the time. But now, you all seem to believe that dropping the individual mandate is a bad idea.
I think you missed the irony of the thread title... Let me help you..
Obama Repeals ObamaCare
Get it now??
I get that you are a hypocrite, yes. You whine and you whine and you whine about the individual mandate. Then he drops it and you whine about THAT.
We already HAD a free market insurance system. It didn't work.
across state lines ? what part didnt work....
Homeboy
2013 Dec 22, 8:58am
across state lines ? what part didnt work....
Yawn. Your simplistic take on everything does not interest me.
across state lines ? what part didnt work....
Yawn. Your simplistic take on everything does not interest me.
nope... JOBS are not on the agenda... we dont want to see
americans working on icky icky jobs ... dirty water dirty air...
Y
2013 Dec 22, 9:05am
Why just a thread? Why not link the entire garment?
No, we argued that there shouldn't be any Obamacare.... Period...
Here is a thread where I argued that dropping the individual mandate alone would be a bad idea, and where curious2 argues that dropping the individual mandate alone would save money:
Y
2013 Dec 22, 9:06am
With the top dog abandoning the ship, it appears Homeboy is running around like a headless chicken...
Call it Crazy says
Funny - NONE of the people I mentioned agreed with me at the time. But now, you all seem to believe that dropping the individual mandate is a bad idea.
I think you missed the irony of the thread title... Let me help you..
Obama Repeals ObamaCare
Get it now??
HydroCabron
2013 Dec 22, 9:27am
APOCALYPSEFUCKisShostikovitch says
I know the mother of someone who was wounded in Aurora.
You mean she hasn't been disappeared yet?
My wife said she seemed pretty upset for a few weeks. Probably the stress of living a lie.
Come to think of it, we haven't seen her in months. Hmm...
Bigsby
2013 Dec 22, 10:06am
These aren't the ARMs of the past as far as I'm aware, and I'm of the understanding that many are done for jumbo loans or for short term financing/refinancing. That doesn't sound like financially desperate individuals.
The question you need to answer is, with 30 year rates in the mid 4's, why is there an recent 3 times the increase in ARM's, when 30 year rates are historically low???
They aren't historically low. If say you were a flipper financing a purchase, which option would you go for? Or say a baby boomer looking to refi to pay for kids through college but with clear plans to down size in the next 5 or so years. Or a rich individual who could pay all cash but funds their jumbo loan with an ARM and dumps the cash into a booming stock market. Or...
Bigsby
2013 Dec 22, 10:12am
They aren't historically low.
30 year rates aren't at a historically low point??? 4.5% is a "normal" rate??? Right......
It's not historically low though, is it? What were the rates before this year? The point is that certain people might see the benefit in getting an ARM at a 1-1.5% lower rate for a number of reasons and not just that they can't afford the payments on a standard mortgage.
The Democrats Will Save Us. Isn't it pretty to think so.
I don't believe it anymore. The democrats, having lost their traditional sources of funding, turned to the common trough and achieved parity in Corporate PAC funding with the republicans in 2008.
They serve the same Masters now as far as I can see. The desperately needed, life or death reforms won't come from within the two party system. In the words of Wm K Black, You can't vote against the interests of Goldman Sachs.
According to Former President of the United States Jimmy Carter: “America does not at the moment have a functioning democracy."
"while the other party (Dems), once the champion of everyday working people, has been so enfeebled by its own collaboration with the donor class that it offers only token resistance to the forces that have demoralized everyday Americans" Bill Moyer
I have been a registered democrat and voted in every election since I was eligible 40 years ago. From now on i will withhold my consent from this money poisoned Corporatocracy.
Such opinions lose then just as dissenting opinions lose now since Newscorp with FoxNews has bought it's way in to dominate the airwaves and the majority of american people with GOP talking points by their endless parade of attractive female blond anchor persons and tough talking GOP austerity pitchmen in suits.
That's real funny.... Fox bought their way in with blond women... Do they also pay people to watch their channel too??
Really???
No other news channel has females anchors???
Could it be that maybe some people are "waking up" to the lies being told on some of those other networks???
Nah, it must be the blond anchors swaying everybody....
Furthermore any talking points are lost if delivered by too much hotness - can't be good for the agenda ;)
lostand confused
2013 Dec 22, 10:56am
Conservatives are not for small gubmnt-at least the ones that are elected. Dubya the shrub and his merry spending republican congress critters bought us the No Child left behind and the half a trillion dollar medicare spending.
Obozo the clown and his big corporate loving democrats don't care one bit about the middle class. They are worse corporatists then Bush and the repubs.
The joke is on us.
HydroCabron
2013 Dec 22, 1:04pm
why is this idiot here?
In their own minds, the Internet belongs to the Anti-Zionist Crusaders. The rest of us are just guests.
Every blog, every comments section, and every forum, if left unattended, will eventually become all Zionism, all the time.
If left unopposed, they would take over the entire Internet.
Oh, and each one claims to be a lone, persecuted voice in the wilderness.
Bellingham Bill
2013 Dec 22, 1:05pm
It's the mortgage of choice in a number of countries
countries that have FUCKED themselves by borrowing more & more money to bid up the cost of housing.
"In the United States, the expansion of the subprime mortgage market has pushed the share of adjustable-rate mortgages (ARM) up from 10% of originations in 2001 to 35% in 2004."
http://www.oecd.org/eco/outlook/39698857.pdf
shows Spain was the world-beater in ARMs before the crash, with Ireland close behind.
shows ARMs were the main driver of price appreciation in California.
These often came with teaser-rate and other juicers to make housing more "affordable" for buyers. Of course, this is impossible, anything that makes housing more affordable for all buyers just jacks up the price, since we have to bid against each other for housing.
Bigsby
2013 Dec 22, 1:19pm
Why do ARMs have to be automatically problematic? Giving them to people without reasonable checks is problematic. I was under the impression that the requirements now are much more stringent than they were at the height of the bubble. Selling them to someone who can qualify for a fixed mortgage but chooses not to go that route is entirely different to pushing them on people who can't make those payments.
JodyChunder
2013 Dec 22, 1:34pm
Hydro, the governor just admitted he was prewarned about something like this happening in the state:
And Adam doesn't exist:
The boogity-boo nutcracker techno music in the second video is what sold me.
Homeboy
2013 Dec 22, 2:00pm
With the top dog abandoning the ship, it appears Homeboy is running around like a headless chicken...
Nah, I'm just laughing at you Rushbots. You complained about the individual mandate for 2 years; now you want it back. LOL.
Bellingham Bill
2013 Dec 22, 2:54pm
Why do ARMs have to be automatically problematic?
because it ratchets up the market to those price levels. Housing is sold on the bid, so ceteris paribus the 1 year ARM guy is going to come in with the highest bid.
This is what Denmark has worked themselves into, everybody refi'ing their 1 year ARMs.
But if & when interest rates go up, their market is going to really implode.
Netherlands is even worse, since everyone just gets IO loans.
99% of the problems in any modern economy is that everyone thinks it great when housing prices go up. It's not.
anotheraccount
2013 Dec 22, 3:03pm
There is no problem with ARMS until there is. For example I did not think we would ever get past 2.5% on 10 year this year and we almost at 3%
I am not saying that rates are going up from here but what if they do rise to 5%. Basically anybody that has 3 or 5 year arm will be in trouble.
"Do you think any bum should be able to homestead on your lawn? or the patch of woods giving you privacy from your neighbor?"
Sure. Maximum freedom is what libertarianism is all about, right?
Then you don't understand libertarianism or freedom, or property rights or even the basics of human behavior.
"To prove a legal title to land one must trace it back to the man who stole it."
You are essentially restating the illegitimacy of government.
Simply limit people to 5 properties per household, of any kind, anywhere. Corporations may only own property they use, or better yet, can only lease. Corporations cannot be formed to hold or rent real estate; LLPs are okay but the limits apply to each and every member (ie Joe and Jack buy an office building, it counts as 1 property for both individuals).
Problem solved.
Really smart. So all the developers and builders are instantly outlawed in your scheme. Pray tell how do you keep coming up with those brilliant brain dead "simple" solutions? Do you only have shoe-size IQ simpletons living in your neighborhood?
Corporate entities are often formed to hold real estate (commercial and residential) due to liability and accounting reasons. It is not at all unusual for an individual (household) to have more than 5 properties: small business owners and practitioners like lawyers often own their offices and small business chains. A rental building being condominiumized can often have more than 5 units; your proposed limit of 5 may well force people into consolidate ownership: reversing the condos into apartment buildings to count as 1, perhaps even consolidating multiple buildings into a street block sized single property, with the resulting market becoming much less liquid and less competitive.
Bigsby
2013 Dec 22, 11:53pm
That's your response? You forgot to add NEOCON ZIONIST CONSPIRACY.
I have more proof that Sandy Hook parents were actors than you have that the US was not involved in Libya and Syria in the beginning.
So I see you deleted my response. Surprise, surprise. Really, what's the point in responding to someone like you when you simply delete posts that point out the utter idiocy of your 'reasoning?' Anyway, it was amusing for a short while, but your conspiracy garbage gets boring fast with your Sandy Hook hoax bollocks being a new low even for you. Enjoy your lonely paranoid delusions. Make believe that those are 'proof.' The rest of us will just shake our heads at how completely insane you clearly are.
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