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Hello Recession


Casper

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no problem!!! but that seems to be the only problem with that statement you had, so you MUST AGREE!!!! But, honeslty, i call the US the land of the FAT/STUPID and free. Is that racists against the US? I would say that was PREJUDICE not racism. If it was racism I would dislike every muslim in this country, which I dont. I made the STEREOTYPE that all middle eastern ppl where the towel on the head.

.....and lets face it. NO MATTER WHO YOU ARE in this world, you ARE prejudice. Even you Shitty. Look up the meaning in websters and you will see what i mean. For instance, Im prejudging you as a ? hmmmmmmm....as you are doing the same about me right now.

I agree with alot that you said. I bet you would exercise your right to punch someone in the face when they come over here from "insert random country" and call you fat and stupid. I would then exercise my right to congradulate you

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I agree with alot that you said. I bet you would exercise your right to punch someone in the face when they come over here from "insert random country" and call you fat and stupid. I would then exercise my right to congradulate you

...no iwouldnt really...REALLY....and hitting someone IS NOT a right unless he swung first...it takes a bit more than just "talk" to get me violent...im NOT a violent person (i hate the flame room because of the possibility of actual violence between some people)...

...in fact i may even agree with him, because lets face it, this country IS FAT (me included) and when it comes to world affairs and the such, we are stupid (eyes shut). shit for that matter even domestic affairs!!!

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Here's some more reading for anybody not convinced. These are the headlines on www.cnnmoney.com. Anybody still wanting to debate?

Merrill Lynch & Co - $10B loss, $14.6B writedown

http://money.cnn.com/2008/01/17/news/companies/merrill_earnings/index.htm?postversion=2008011708

Housing market takes a 14.2% hit

http://money.cnn.com/2008/01/17/news/economy/housingstarts/index.htm?postversion=2008011708

Renting taking a hit, only 1/2% increase

http://money.cnn.com/2008/01/16/real_estate/rents_flat/index.htm?postversion=2008011703

Treasury Secretary Larry Summers tells lawmakers they must act fast to ease problem

http://money.cnn.com/2008/01/16/news/economy/stimulus_pkg_jec_hearing/index.htm?postversion=2008011617

Credit crunch threatens foreclosure for $3B casino project

http://money.cnn.com/2008/01/17/real_estate/nevada_foreclosure.ap/index.htm?postversion=2008011703

JPMorgan Chase & Co takes $1.3B writedown

http://money.cnn.com/2008/01/16/news/companies/jpm_earnings/index.htm?postversion=2008011612

Bank of New York Mellon Corp takes 68% hit

http://money.cnn.com/2008/01/17/news/companies/bc.apfn.earns.bankofnewy.ap/index.htm?postversion=2008011708

RIP for Detroit's auto show

http://money.cnn.com/2008/01/16/news/companies/taylor_lutz.fortune/index.htm?postversion=2008011617

ummm... Satan, get your ass to work please.

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ok I just got home from michigan. Now there is a state in recession. The rest of us seem to be doing alright. Everyone has the money for a bike and a computer so I also assume that everyone has the money to eat. I never said that there weren't monetary woes out there. So don't go putting words in my mouth satan. Oh and to whoever told me not to talk shit to someone in their house I know satan and we talk shit to each other that is what we do but still manage to get along just fine. So unless satan tells me he is offended I assume he is taking what I have to say with a grain of salt and laughing about it much as I do with what he says. But anyway back to the point. Yes the dollar is down inflation is up however people seem to be placing the blame in the wrong places. Instead of putting all the blame on bush (who I agree is mostly an idiot) put it where it belongs on the jackass's that bought a house they couldn't afford. It is not up to a bank to be a babysitter and tell people what they can or can't afford they only decide if someone is credit worthy. They did however make a huge mistake with sub-prime lending. But if it had not been for the tech crash in '00 there would have been no need for the so called housing bubble to maintain the economy. In reality we should have allowed the market to fall apart back in '00 and we would be out of it by now. But instead everyone asked the gov for help instead of letting the market fix itself. Now we have the current mess. And as for the troops being spread to thin I disagree. While enlistment might be down we still have a much larger armed forces than we did under clinton. We have almost as many troops here as we do on foreign soil. And also the so called largest deployment satn referred to was 3500 troops to afghanistan. Not the largest by far. We have sent none to iraq. And everything is on track for troops to start coming home from iraq in july. And there is no debating that fact just checked it.

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  • 3 years later...
god damnit! doesn't anyone understand the market fluctuates??? with fucking cnn telling everyone that we're going into recession, what do you think people are going to think? :rant:

Time travel lulz. The market fluctuated alright.

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however people seem to be placing the blame in the wrong places. Instead of putting all the blame on bush (who I agree is mostly an idiot) put it where it belongs on the jackass's that bought a house they couldn't afford. It is not up to a bank to be a babysitter and tell people what they can or can't afford they only decide if someone is credit worthy.

While I agree the individual should ultimately be responsible for his own actions. There was collusion between progressives and business that led to the housing bubble. In 1933 the Glass-Steagall Act was made into law and it forbid the mixing of mortgage finance with other aspects of financing. In short, it required mortgage holders to retain the mortgage they wrote by making it illegal to bundle them and sell them as one investment. In 1999 Bill Clinton repealed the Glass-Steagall act and made it legal for banks to bundle the shitty mortgages they knew would not be repaid and sell them to investers. They found they could make serious cash by doing this and suddenly they needed more mortgages to bundle so they relaxed their requirements on who was eligible knowing they wouldnt be stuck with them..... some un-knowing investor would take the hit..... A few years later and a shit-ton of forclosures later and suddenly they cant find a buyer for those bundled shitty mortgages..... The housing bubble popped!!! here we are....... so..... Thank Bill.

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While I agree the individual should ultimately be responsible for his own actions. There was collusion between progressives and business that led to the housing bubble. In 1933 the Glass-Steagall Act was made into law and it forbid the mixing of mortgage finance with other aspects of financing. In short, it required mortgage holders to retain the mortgage they wrote by making it illegal to bundle them and sell them as one investment. In 1999 Bill Clinton repealed the Glass-Steagall act and made it legal for banks to bundle the shitty mortgages they knew would not be repaid and sell them to investers. They found they could make serious cash by doing this and suddenly they needed more mortgages to bundle so they relaxed their requirements on who was eligible knowing they wouldnt be stuck with them..... some un-knowing investor would take the hit..... A few years later and a shit-ton of forclosures later and suddenly they cant find a buyer for those bundled shitty mortgages..... The housing bubble popped!!! here we are....... so..... Thank Bill.

Phil Gramm is such a POS.

http://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act

When his pet legislation caused the economy to tank, he called everyone whiners and said it was just a "mental recession".

http://www.washingtontimes.com/news/2008/jul/09/mccain-adviser-addresses-mental-recession/

Edited by psyco1
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