Trigger Mike Posted September 22, 2011 Share Posted September 22, 2011 on the movie Wallstreet Holbrooke gave the line, "when a man stares into the abyss he finds his true character and that's what keeps him out of the abyss" Here we have several declaring we are entering a double dip recession(even though it never felt like we left the first one), so now Finally the oil speculators and hedge funds who drive up oil prices have started selling oil causing the price of oil to drop, and that will keep us out of the double dip recession. The housing market would have been fine had high oil not kicked everybody in the gut and made companies cut back and fire folks, causing them to go under with their house. Everything spiraled from there. everything got better once oil fell.oils is now 84.68 a barrell. It needs to go to 40 but it probably won't. Link to comment Share on other sites More sharing options...
Blackwater 53393 Posted September 22, 2011 Share Posted September 22, 2011 Actually the housing market tanked because the people running the Fannie Mae and Freddy Mac were forced by those in power during the Clinton administration, to give loans to people who had no business trying to buy the houses they bought because they had no means to repay the loans they took out. No politics involved here, just facts. (Forgive me Black Harris!) Link to comment Share on other sites More sharing options...
J-BAR #18287 Posted September 22, 2011 Share Posted September 22, 2011 This will be locked quickly. Eliminate Obamacare. Eliminate the Dept of Energy. Allow/encourage drilling in ANWAR. Build many small nuclear power plants. Pass the Fair Tax. Pass term limits. Enforce immigration laws. Prosecute corrupt officials. Elect as many Libertarians as possible. Did I leave anything out? Link to comment Share on other sites More sharing options...
Big Jake1001 Posted September 22, 2011 Share Posted September 22, 2011 I just jumped in so I could get in a thread that's going bye bye. Just sayin' Big Jake Link to comment Share on other sites More sharing options...
Wolfgang, SASS #53480 Posted September 22, 2011 Share Posted September 22, 2011 We are entering this ecconomic depression ( concealed to look like a ressesion by government intervention) ...due to most of our modern society's population living further and further beyond their means for several generations. When everyone that has lived beyond their means ( this includes governments as well as individuals). . . has gone broke, . the world wide economy can get going again. Further government intervention to "save" those who've been living beyong their means just drags out this process and makes the situation worse. Since this thread will get deleted anyhoooo...... , , more on the same vein. . Link to comment Share on other sites More sharing options...
Noz Posted September 22, 2011 Share Posted September 22, 2011 This will be locked quickly. Eliminate Obamacare. Eliminate the Dept of Energy. Allow/encourage drilling in ANWAR. Build many small nuclear power plants. Pass the Fair Tax. Pass term limits. Enforce immigration laws. Prosecute corrupt officials. Elect as many Libertarians as possible. Did I leave anything out? You believe in the Easter Bunny, don't you? Link to comment Share on other sites More sharing options...
Marshal Dan Troop 70448 Posted September 22, 2011 Share Posted September 22, 2011 Just wanted to see if I would be the caboose here? MT Link to comment Share on other sites More sharing options...
Marshal Mo Hare, SASS #45984 Posted September 22, 2011 Share Posted September 22, 2011 No MT. Try again. Link to comment Share on other sites More sharing options...
Wolfgang, SASS #53480 Posted September 22, 2011 Share Posted September 22, 2011 . . . . "Easter Bunny for PRESIDENT" . . . Link to comment Share on other sites More sharing options...
Whiskey Business Posted September 22, 2011 Share Posted September 22, 2011 This will be locked quickly. Eliminate Obamacare. Eliminate the Dept of Energy. Allow/encourage drilling in ANWAR. Build many small nuclear power plants. Pass the Fair Tax. Pass term limits. Enforce immigration laws. Prosecute corrupt officials. Elect as many Libertarians as possible. Did I leave anything out? Privatize Social Security Do something (don't know what) about Medicare/Medicaid Repeal the 17th amendment (allows direct election of Senators, they were appointed by the states before) Get rid of government unions Stop foreign aid Stop pork projects Get rid of the Dept of Education Link to comment Share on other sites More sharing options...
Badger Mountain Charlie SASS #43172 Posted September 22, 2011 Share Posted September 22, 2011 Eat Mor Chikn Link to comment Share on other sites More sharing options...
Red Gauntlet , SASS 60619 Posted September 22, 2011 Share Posted September 22, 2011 Eat Mor Chikn No; Choklit Cake.... Link to comment Share on other sites More sharing options...
J-BAR #18287 Posted September 22, 2011 Share Posted September 22, 2011 You believe in the Easter Bunny, don't you? What? Is there any doubt?? Link to comment Share on other sites More sharing options...
Henry T Harrison Posted September 22, 2011 Share Posted September 22, 2011 Actually the housing market tanked because the people running the Fannie Mae and Freddy Mac were forced by those in power during the Clinton administration, to give loans to people who had no business trying to buy the houses they bought because they had no means to repay the loans they took out. No politics involved here, just facts. (Forgive me Black Harris!) Added to that problem were folks who under the rules financed 120% of the loan using an adjustable rate mortgage. When the economy tanked the ARM’s adjusted causing payments in a lot of cases to double. Folks who bought more house that they could really afford hoping that the rapidly rising home prices would allow them to make a killing when they sold instead took a beating. They tried to sell the house off since they could no longer make the payments but remember that they had financed not the value of the house but 20% more than the value of the house and housing prices were now dropping instead of rising. Now with falling prices and closing costs to pay selling the house without taking a HUGE loss was impossible and the house was foreclosed on. The more houses that were foreclosed on the bigger the glut on the market and the more prices fell. The market in this area was just coming back when fuel prices skyrocketed and the market has now come to a virtual standstill Link to comment Share on other sites More sharing options...
Red Gauntlet , SASS 60619 Posted September 22, 2011 Share Posted September 22, 2011 I very much hope housing prices continue to fall. We have so many policies in place to "support" housing prices it's ridiculous. Houses are property; they are bought and sold. The market should find its own level. Housing prices were way too high, a process that started with easy credit, low interest rates, and low/no downpayments. They should fall to meet demand. I have some children who have houses, and some who do not. They will buy when the prices go lower; they are still being propped up. As for my house, I don't care what it's "worth". Interest rates are so low that you can't make any money on money. We have a debtor society, and national policies that expressly favor debtors. Ridiculous. Link to comment Share on other sites More sharing options...
Wolfgang, SASS #53480 Posted September 23, 2011 Share Posted September 23, 2011 Nice to see this thread still running. It is really economic rather than political. Some very good and insightful comments. Link to comment Share on other sites More sharing options...
Bodine Posted September 23, 2011 Share Posted September 23, 2011 I thought this was gonna be a movie review, and I thought the Abyss tanked. Well, I guess since the economy tanked as well, I'm still good ta go with the review huh? Bodine Link to comment Share on other sites More sharing options...
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