November Snapshot - More Bad News for Team Pelosi

[tieguy]

Did you happen to watch Wall Street last week ?
Again, if your smarter then Wall Street investors,, you'ld be in panic selling right now !

?

did you happen to watch wall street the past three months? oh thats right you were chasing cuban kids with plastic beach balls.

 

[klein]

did you happen to watch wall street the past three months? oh thats right you were chasing cuban kids with plastic beach balls.

Yes, I did, and the numbers were awlful.
Now we see a rebound in those numbers (job creation, housing market, consumer confidence, sales, etc).
It's a start, and if you can't admit that, well other investors do. With much more money then you or I, too !

 

[tieguy]

Yes, I did, and the numbers were awlful.
Now we see a rebound in those numbers (job creation, housing market, consumer confidence, sales, etc).
It's a start, and if you can't admit that, well other investors do. With much more money then you or I, too !

I saw several bounces during that three month stretch.

the market does what the market does independent of the real world.

Meanwhile Unemployment and foreclosures went up this month.

 

[browndevil]

I saw several bounces during that three month stretch.

the market does what the market does independent of the real world.

Meanwhile Unemployment and foreclosures went up this month.

Your last line Tie, driven by the fake housing market. You know that, you are an intilligent man, Fake housing-bubble busts-fake jobs go away, people lose their homes they never should have or could have bought

 

[Babagounj]

http://www.cnbc.com/id/38986777
More than 400 US Banks Will Fail: Roubini


Even if the US and European economies manage to avoid a double dip, it will still feel like a recession, while more than half of the 800-plus US banks on the "critical list" are likely to go bust, according to renowned economist Nouriel Roubini of Roubini Global Economics.

 

[moreluck]

Not to worry, B.O. is poised to spend $50 Billion more in stimulus, but not calling it stimulus....something about jobs....

 

[bbsam]

Not to worry, B.O. is poised to spend $50 Billion more in stimulus, but not calling it stimulus....something about jobs....

He could put it straight into infrastructure. That would help with jobs. And it's needed.

 

[tieguy]

Your last line Tie, driven by the fake housing market. You know that, you are an intilligent man, Fake housing-bubble busts-fake jobs go away, people lose their homes they never should have or could have bought

Brown you need to open your eyes you're trying to make excuses. The real estate market has been down longer then the rest of the economy. The over leveraged were the first to go. The person who loses their house in todays world is someone who has fought to hold on to it through five years of real estate market troubles but can no longer hold on. These are real people and real families. You can't discount them by calling them part of the fake housing market. For a sensitive liberal you're surprisingly insensitive to the point that americans are losing their houses.

 

[klein]

Brown you need to open your eyes you're trying to make excuses. The real estate market has been down longer then the rest of the economy. The over leveraged were the first to go. The person who loses their house in todays world is someone who has fought to hold on to it through five years of real estate market troubles but can no longer hold on. These are real people and real families. You can't discount them by calling them part of the fake housing market. For a sensitive liberal you're surprisingly insensitive to the point that americans are losing their houses.

Why don't you be realisitic for once ?
Obviously these homeowners bought a home (during the "fake" housing boom), otherwise those homes wouldn't be under forclosure.
Because their homes would be more worth then what they paid for, and they would have some (credit) leverage, or even sell and earn a few bucks and wouldn't need to forclose.

 

[UpstateNYUPSer(Ret)]

Why don't you be realisitic for once ?
Obviously these homeowners bought a home (during the "fake" housing boom), otherwise those homes wouldn't be under forclosure.
Because their homes would be more worth then what they paid for, and they would have some (credit) leverage, or even sell and earn a few bucks and wouldn't need to forclose.

Not necessarily true although I will agree that some bought more house than they could afford. We average 3-4 forcelosures per day in the legals of my local paper. Not all of these are new as foreclosures have to be published for a certain number of days. Anyway, some of the amounts owed are so small that you have to think that, as Tie said, these folks have been trying and for whatever reason are no longer able to pay their mortgages. For example, there was one in there last week for $33K. The neighborhood usually supports home in the $100-125K range so this tells me they have been in the house for awhile and that something happened.

Klein, bad things can happen to good people. Divorce, layoffs, job losses, unexpected medical expenses can be enough to put a couple that was already living paycheck to paycheck out on the street.

On the plus side, if I were in the market for a new home and didn't mind putting a little work in to it, this is a great time to buy.

 

[bbsam]

Brown you need to open your eyes you're trying to make excuses. The real estate market has been down longer then the rest of the economy. The over leveraged were the first to go. The person who loses their house in todays world is someone who has fought to hold on to it through five years of real estate market troubles but can no longer hold on. These are real people and real families. You can't discount them by calling them part of the fake housing market. For a sensitive liberal you're surprisingly insensitive to the point that americans are losing their houses.

Has Tie recently taken a sensitivity training seminar? I'd be moved if I didn't think it was simple political angling.

 

[tieguy]

Why don't you be realisitic for once ?
Obviously these homeowners bought a home (during the "fake" housing boom), otherwise those homes wouldn't be under forclosure.
Because their homes would be more worth then what they paid for, and they would have some (credit) leverage, or even sell and earn a few bucks and wouldn't need to forclose.

Is that how you liberals deal with the guilt of wrecking the economy?

I have three foreclosures near me in my neighborhood. None fit the bought too much house scenario. All lost their houses as they either lost jobs or had their hours or pay slashed. All fought long and hard to hold onto their houses until they could no longer hold onto them.

while your out chasing underage kids on unemployment money real people are losing their houses in this economy. Thats reality.

 

[bbsam]

Touching. Simply touching. Screw 'em on the health care front though.

 

[UpstateNYUPSer(Ret)]

Touching. Simply touching. Screw 'em on the health care front though.

Healthcare tends to take a back seat to housing in my book.

 

[bbsam]

Healthcare tends to take a back seat to housing in my book.

For now.

 

[UpstateNYUPSer(Ret)]

For now.

So if I lose my house and am living in a box under the overpass I'll be OK because at least I have my health?

 

[browndevil]

Brown you need to open your eyes you're trying to make excuses. The real estate market has been down longer then the rest of the economy. The over leveraged were the first to go. The person who loses their house in todays world is someone who has fought to hold on to it through five years of real estate market troubles but can no longer hold on. These are real people and real families. You can't discount them by calling them part of the fake housing market. For a sensitive liberal you're surprisingly insensitive to the point that americans are losing their houses.

As home values increased, homeowners took out HELC, bought cars, remodeled their homes, took trips, paid for weddings all money that fueled they economy with what? Money that never existed. Remember when the BankAmericard came available in the 60s? We saw a spike in the economy. It happened again in the 2000s this time in a much bigger and unfortunately going to take more than 4 years to fix.
Oh and thanks for the sensitive liberal remark but you are wrong I am not insensitive to people losing their homes. The ONE BIG reason I support Obama's healthcare plan is because I didn't want people to go broke, lose their homes or get undiagnosed because they couldn't see a doctor. I call that compassionate.

 

[bbsam]

So if I lose my house and am living in a box under the overpass I'll be OK because at least I have my health?

No. Because if you lose your health and costs are such that you lose your house as well because insurance won't cover 100%, you are in a very bad situation. Or if insurance costs continue to rise and more and more companies dump coverage, then the costs for UPS go through the roof until they too decide to either A) shift more cost to the employee or B) dump coverage all together health coverage becomes more and more important. It's a scenario happening more and more. A viscious cycle.

 

[klein]

Is that how you liberals deal with the guilt of wrecking the economy?

I have three foreclosures near me in my neighborhood. None fit the bought too much house scenario. All lost their houses as they either lost jobs or had their hours or pay slashed. All fought long and hard to hold onto their houses until they could no longer hold onto them.

while your out chasing underage kids on unemployment money real people are losing their houses in this economy. Thats reality.

As if your beloved Bush left the econonmy in tip top shape ?
How forgetful are you ?
No President ever took over such a mess ever, before.
Too bad McCain didn't win the election, otherwise the republican party would have been toasted forever !

Nice takeover that was, banks going broke, Industry going broke (i.E Automoble), house values deteriating, and over 700.000 people being laid off per month !
Plus the massive debt Bush left behind, 2 wars and Social Security running out of money.

Btw: Who wanted GM and Chrsyler to go bk, again ?
Along with that, and estimated 1 million jobs !
Think how many forclosures that would have gotten you !
Now, you have sympathy.... finally, eh ?

Be happy the economy somewhat recovered.
We could be all sitting here with useless stocks, and a great depression.

Actually, as an Anti-American (as described often), I should be on your side, and say the US is falling off the earth, and you'll become our Mexico.
But, thats not for another 50+ years or more.

 

[UpstateNYUPSer(Ret)]

No President ever took over such a mess ever, before.

I think both Reagan (Carter) and Ford (Nixon) would disagree with you. The former took over an economic mess while the latter took on a political nightmare.