Call it what it is. The BUSH RECESSION. (page 2)

BurnTheShips

ROFL. The productive class is carrying everybody else, yet again. Looters and moochers. Time for a tax revolt.

BTS

jeeprube

As for NAFTA, I really don't think it was bad in theory...in that trading with our neighbors was a bad idea,. I think that it was the implementation of it that sucked.

I totally agree. Free Trade is a wonderful theory on paper. Opening more markets to locally produced goods is a win win. However, when you use the new law to facilitate the movement of manufacturing facilities off shore to cheaper labor markets you sign the eventual death warrant for your economy.

I am afraid it is too late to reverse any of it. China owns the world's manufacturing base, which means they hold all the money now. They're now beginning to use that power to secure their interests around the world. If you've payed any attention to Hubbard's peak theory on oil production then you know we're headed for an increasingly tight oil market.....without oil the world will stop. Check out what China's doing....

http://www.nytimes.com/2009/02/21/business/worldbusiness/21yuan.html?hp

sammielee24

"Now that those of us who have been making steady, on-time payments on our mortgages for years will be paying off others’ mortgages through our taxes, can we claim a tax-deduction for our neighbors’ mortgage interest too?"

I wouldn't worry too much about those damn losers who lost their homes and you are being forced to carry as you say - why throw stones at them? There are bigger problems at the very top of the heap - all those guys like Madoff and Standford that scammed and there are no doubt still a few hundred that haven't yet been caught - have stolen all of the hard earned money that some of those foreclosed losers had to actually pay off their mortgage. Worry more about the $300+million that those high rollers have hidden in offshore accounts every year so they don't have to pay taxes on it - you are picking up the tab for that.

Sorry but no matter what anyone says - nobody can get money if the lender won't lend it. If the lender decides to hand over money to someone that doesn't have a job, blame the lender. If a lender hands over money without proof that you can pay it back - blame the lender. Bush declared that he wanted an ownership society and opened all the gates...it's in one of his famous speeches and deregulation, no oversight and a wink and a nod at dubious activities show in the results now. sammieswife.

leavingwt

Sorry but no matter what anyone says - nobody can get money if the lender won't lend it. If the lender decides to hand over money to someone that doesn't have a job, blame the lender. If a lender hands over money without proof that you can pay it back - blame the lender.

I totally agree with that.

I personally know people that got mortgages on $300,000 homes, when they had no business doing such. The one example I'm thinking of, was a person that had previously filed for bankruptcy multiple times and did not have a history of steady income.

I shook my head and asked, "Who loaned them that much money?"

-LWT

BurnTheShips

I personally know people that got mortgages on $300,000 homes

That's a lot of house in Mississippi. I bought 5 houses up there last year, and none cost me more than 45k.

BTS

leavingwt

That's a lot of house in Mississippi.

You ain't bird-turding.

The real estate market was sky high for a brief period. It was ridiculous. The prices are starting to get right.

You can live in a NICE three-bedroom brick home with a 1/2 acre lot for less than $200,000 in many suburban areas. In the rural counties, land can be as cheap as $2,000 per acre and 300K would buy you a mansion and 10 acres of land.

-LWT

Call it what it is. The BUSH RECESSION.

BurnTheShips

jeeprube

sammielee24

leavingwt

BurnTheShips

leavingwt

hamilcarr

slimboyfat

slimboyfat

slimboyfat

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