Not Again... Americans who can't afford their mortgage up 145%

[Fogdog]

Trump a satan fan?

Is he? How do you know all this. You are amazing.

 

[budman111]

Is he? How do you know all this. You are amazing.

 

[rkymtnman]

Short sellers profit from exactly the opposite,

very true. maybe a bit more risky than buying when it's at rock bottom though?

buy real estate for cash when people are desperate to sell?

there has to be some common "plays" during the depression and the last recession that made some people tons of money. time for research.

 

[ttystikk]

I'm fine. I'm just having a pleasant conversation with a deluded acquaintance and having fun at his expense.

Fake news.

If that's your idea of fun you need to get out more.

 

[ttystikk]

I don't give shit about corrupt DNC, Bernie, or any other gonk. BTW this is not my thread. thesis about how the 1% all by themselves will bring this economy down? easy, they will do it themselves.

Indeed. They have- and overleverage- nearly 90% of all of the country's assets.

The stock market hit a new high today.

Bear market, coming up!

 

[st0wandgrow]

I'm open to going back to trying to understand your thesis about how the 1% all by themselves will bring this economy down.

Who else would be responsible for it? I'm pretty sure that it's not the bottom 50%+ that is hoarding all of the wealth and paying off our politicians.

Money=power. People with power call the shots, so if the economy crashes who else would there be to blame but the shot callers?

 

[ttystikk]

very true. maybe a bit more risky than buying when it's at rock bottom though?

buy real estate for cash when people are desperate to sell?

there has to be some common "plays" during the depression and the last recession that made some people tons of money. time for research.

The stock market just closed at a new high. Many would say the time is right for short interest.

 

[ttystikk]

Who else would be responsible for it? I'm pretty sure that it's not the bottom 50%+ that is hoarding all of the wealth and paying off our politicians.

Money=power. People with power call the shots, so if the economy crashes who else would there be to blame but the shot callers?

That's my logic too and he's said nothing to address it.

 

[whitebb2727]

Looking at history, mass unemployment and financial hardship on that level for extended periods has always led to mass anarchy and revolution.

Funny that you say we should learn from history while at the very same time refusing to learn from history.

We came back from previous depressions. The one of the 30's was not the worst in US history.

Maybe revolution is needed. Things are not getting better.

So you would shrug your shoulders and usher in another Great Depression?

While I think there is a better way, I'm far from convinced our system can take advantage of it.

Yours might be the method by which it HAS to happen, because no one in charge will take the advice of those of us who can see the crash coming.

That's how it went last time, after all.

I would hate to see it. Just saying it might be what's needed.

in principle yes. In reality, letting banks, GM and AIG go down the chutes at that time "for our own good" would have been like using gasoline to put out a fire. Hoover tried the same tactic in 1929-1930. The time to prune the tree is when it's doing OK. Now is the time to put regulations in place to prevent the same kind of meltdown but that's not going to happen for a while.

Ok. Sure. I agree with that.

I'm just saying its not likely to happen.


What then?

 

[UncleBuck]

IF you bought the max house you could afford in the moment, you are a fool. Plain and simple.

If you lease a vehicle, buy expensive food/clothing, go bar hopping, and then bitch about not having savings for emergencies, you are a fool.

A fool and his money are soon parted.

us taxpayers paid for your kid to be born because you couldn't afford to cover the expenses of your own decision. you were on food stamps for a decade when you decided to have a kid. you were getting cited by the city for harboring rats and leaving dog shit all over the place. the neighbor was mowing your lawn for you. all this after your deadbeat husband, who you fantasize about cheating on, was making $12 an hour after a dishonorable discharge from the military for stealing from the united states government.

don't try to take twostroke's place as the broke, trailernomics preacher either.

hey, did ya hear about donny junior?

 

[UncleBuck]

We pinch pennies by eating beef chicken and the occasional steak at home.

We pinch pennies by not going out to every movie when it releases. We usually do about 2 a year.

We enjoy our life by spending time with friends and family over a meal or project.

We enjoy our life through relationships not things.

We never eat ramen.

you are on food stamps and free government healthcare.

at least for now you are. trump, ryan, and mcconnell are about to end your free ride, mooch.

 

[UncleBuck]

Poor decisions lead to poor outcomes.

like stealing property from the united states government to build a go kart for yourself?

 

[UncleBuck]

Nothing is guaranteed in life. The unexpected happens. It is your job to put aside in times of plenty for the bad times that are sure to come.

Notice how it says even with insurance she was struggling. Thats because obamacare ushered in rediculous premiums for middle class with even higher deductibles.

If we could purchase across state lines and if we had access to catastrophic plans, she may have been fine financially.
Did she herniate her disc carrying couches on her back? Foolish.

or maybe we could just strengthen the medicaid program that you mooched off of for years, and still do.

 

[UncleBuck]

No I do not.

you were on food stamps for over a decade. anyone who is on food stamps pretty much qualifies for medicaid too. us taxpayers paid for all of your pre-natal costs and healthcare for over a decade.

no need to be such a lying sack of shit, pie. we have the posts that prove all of this.

 

[UncleBuck]

Zuckerberg is a piece of shit.

is he part of the jewish oligrachies which control america?

 

[Fogdog]

Who else would be responsible for it? I'm pretty sure that it's not the bottom 50%+ that is hoarding all of the wealth and paying off our politicians.

Money=power. People with power call the shots, so if the economy crashes who else would there be to blame but the shot callers?

I'm not disputing that speculation is one way the economy can crash. The way it happened last time was banks diced up "sub-prime", or what turned out to be a whole lot of bad mortgage loans to the working classes and sold them in toxic credit securities to the wealthy. I'm curious if there are examples where the 1% all by themselves caused the economy to crash. It's tty's theory and so I'm just asking for more information so the I can read and think about it. There are examples of this happening before the turn of the last century but I'm not aware of the wealthy all by themselves crashing the economy in the modern era. I'm looking for links to researched articles, as opposed to "I think therefore it is" statements. Not looking for a fight but glad to give one.

 

[Fogdog]

We came back from previous depressions. The one of the 30's was not the worst in US history.

Maybe revolution is needed. Things are not getting better.

I would hate to see it. Just saying it might be what's needed.

Ok. Sure. I agree with that.

I'm just saying its not likely to happen.


What then?

Well then, progressives have to play the role of the opposition and stop right wingers from doing even more damage than they already have done. My saying the obvious infuriates @ttystikk but he's going to have to suck it up along with everybody else. We aren't going to pass new regulatory regulations or any other progressive legislation until the right wing are reduced and out of power.

 

[Fogdog]

why do you hate bicycles?

 

[Fogdog]

But you support the system that brought us President Trump. You even go so far as to deny that all that campaign funding by corporations, SuperPACs and dark money has any effect on how politicians vote.

That's an amazing feat of self delusion.

I don't support continuance of the Electoral College. Why to you make stuff up? As far as Pac money is concerned, did you know that every Senator who is a member of the Democratic Party Caucus were in support of Sanders' bill that would have repealed Citizen's United? Yet you for some reason talk as if they stopped the bill. Dude, it was Republicans who sustained the filibuster. The truth can be surprising and interesting. You might try it some time.

 

[ttystikk]

I'm not disputing that speculation is one way the economy can crash. The way it happened last time was banks diced up "sub-prime", or what turned out to be a whole lot of bad mortgage loans to the working classes and sold them in toxic credit securities to the wealthy. I'm curious if there are examples where the 1% all by themselves caused the economy to crash. It's tty's theory and so I'm just asking for more information so the I can read and think about it. There are examples of this happening before the turn of the last century but I'm not aware of the wealthy all by themselves crashing the economy in the modern era. I'm looking for links to researched articles, as opposed to "I think therefore it is" statements. Not looking for a fight but glad to give one.

If those loans hadn't been repackaged by major banks and resold, those subprime loans- also offered by those self same big banks- would not have crashed the economy.

Since those banks were and are owned by and large by the very wealthy, how does your example contradict my assertions?