thank you democrats and obama supporters

[CritiKiL]

I'm talking about people who 'bite off more than they could chew' by entering into home financing deals that they 'knew' was most likely too good a deal to be true. It's not just the Politicians. WE THE PEOPLE need to take blame for alot of this shit as well. And you talk all this 'talk' about the POLITICIANS? Who voted for them? WE THE PEOPLE.

 

So that's why I made the statement about 'us running things' into the ground. Accepting finance plans that people knew they could not afford put strains on this economy, and so YEA, we need help from the Gov because 'who else is gonna bail us out of this mess? It's not just the Politicians, but you are causing me to go into an area of which we are NOT SUPPOSED TO BE TALKING ABOUT. So I will come out of this thread, by only elaborating on what I meant in a previous statement. A statement of which...is TRUE.

 

 

[[BOU] Unstable-Breed]

I agree people do make mistakes. Let each one fall on their ass and work their way back up again. If I make a mistake I right my own wrongs I don't need other people i.e. the government to bail me out. We need to account for our own actions. We don't need baby sitters. I imagine Tow has either not seen this or is letting it go till it gets out of hand like they usually have a tendency to do. Ill continue to talk as long as it's up.

[iDnTyX]

I don’t know if you can blame the people, Sure people did purchase homes that were out of their budget but Not everyone did. Some people are losing their homes not because they paid too much for it it’s the interest that get everyone, if you have no job how can you pay for it. As for the Banks they were giving loans out like candy to unqualified people but they dont care, they know they have the Goverments backing . At the end what happen to the people, if you look in areas in LA theirs familys living in tents. Banks have loan officers and they are all paid to give loans, I believe they all have a quota every month that they must meet. I still see places where they offer loans with not credit checks. And what is killing people is the interest rate of all loans and credit cards. The Government had the opportunity to prevent this from happening, this was even predicted to happen from 10 years ago

 

As the Clinton administration’s top housing official in the mid-1990s, Mr. Cisneros loosened mortgage restrictions so first-time buyers could qualify for loans they could never get before - contributing to the the great housing and financial crisis that has now begun

 

President Clinton forcing banks to make riskier and riskier loans

 

And now banks and other companies are getting bailed out while people are losing their small businesses, jobs and homes.

 

 

Not going to mention the foreign debt

 

just my thought

[Chili327]

Yes it is ugly, & yes it is a serious problem, but NO it is NOT one persons fault, or one group of people.

Everyone has some blame in this. If you voted someone into office that had a part in this for the past 12 yesrs or so, or took a loan that you shouldn't have, or whatever it is, we all have at least some small part in it.

 

Even though i didn't vote for Obama, i find it VERY hard to put anywhere near the majority of the blame on him.. he is the one trying to clean up the mess, not the one who made it. We just hope he makes it better, & not worse, but only time will tell about that.! (not next month. lol)

[Guest [+30]PuddyTat]

my original post was directed ONLY at obamas handling of the oil and gas industry. that is what i do, and the problems we are experiencing ther HAVE started sonce obama took office with the immediate increase in oil and gas importation, and the usage of our long term reserves. this increase is tremendous, and cannot be traced back any farther than january 20th, 2009!!! as far as the rest of the economy, i with all of you. we all have are part in it, and we all need to figure out how to fix it.

[Chili327]

Seriously though Puddy, don't you think a Gas & Oil issues (even a local issue) started sooner.?

I find it hard to believe that one descision that he made is the sole reason you are having this issue.

 

I'm going to stop posting.. i feel like i am trying to defend Obama. lol

As i said i didn't vote for either candidate, but this is just from my unbiased opinion. ;D

 

Eitherway Puddy.. This shit sucks for all of us.

[UNCLE-SID25]

I do not blame one person or one party- I blame many and both parties.

 

Its just common sense- You have BIG government telling companies and medicine how to run their business... When the government cant balance a budget and pays out expenditures for needless expenses.

 

Sorry I just wouldn't hire someone to take over my business that couldn't run their own.

 

Those companies that lent money, built cars, fly planes- If they were unethical or simply ran a bad business model (no matter the law) then they should fail. IF your going to give bail outs (and I dont agree that we should) take a look at the smaller companies that DID ethical loaning (its why they are smaller because they didn't fuck the American people over just cause the law said they could) and help them be more successful.

 

Common sense- But then again you dont get to the top and stay their by allowing common sense to set precedent I guess.

 

I look forward to seeing the jobs and infrastructure growth as obamas plan outlined (interstates, bridges etc)- Interstates (when they were originally created) were made for our military... So to me I guess that makes sense and should be paid for by our taxes to create jobs... But the rest of the money (majority of it) in this plan just does not jive at all. In reality we did not need this "plan" to create jobs in infrastructure- But they sure as hell sold it well.

[Red0ctobeR]

Rorbotron ]

lol is all I have to say. It's going to get worse before it gets better and maybe just maybe if the previous administration wasn't so careless the drastic measures in place wouldn't have been necessary. The tea parties were also hilarious. If all the spending is such a problem why isn't the war effort a problem? Last I checked it's the reason we're in such a ENORMOUS hole.

 

You're kidding right? the reason we are in this much is becasue the housing bubble burst. Which was mainly caused by the Housing fairness bill. Which gave anyone the ability to buy a house without a down payment and various other things. The war did NOT cause the economy to go to shit.

 

Why don't you go look into news other then CNN and MSNBC. Besides look at what Obama is doing now anyway. He hasn't changed 1 iota in the middle east besides bolster up troops in Afghanistan. Basically it is Bush x10 with spending and poor decision making.

 

Boy I wish we could see the thread we did before the election. I think you would see SOME of our predictions pretty acurate. Incredible.

 

 

AND good bless anyone who was able to make it to a tea party. It really shows that AMERICANS are tired of the power hungry and want REAL change not the socialist change Obama wants, and is slowly getting.

[RNG187]

http://www.youtube.com/watch?v=nYSYipouABI

;D

[Chili327]

Live version - http://www.youtube.com/watch?v=gc0JveFySB4&NR=1

[DK_MaluNYMets]

Red0ctobeR ]

Rorbotron ]

lol is all I have to say. It's going to get worse before it gets better and maybe just maybe if the previous administration wasn't so careless the drastic measures in place wouldn't have been necessary. The tea parties were also hilarious. If all the spending is such a problem why isn't the war effort a problem? Last I checked it's the reason we're in such a ENORMOUS hole.

 

You're kidding right? the reason we are in this much is becasue the housing bubble burst. Which was mainly caused by the Housing fairness bill. Which gave anyone the ability to buy a house without a down payment and various other things. The war did NOT cause the economy to go to shit.

 

Why don't you go look into news other then CNN and MSNBC. Besides look at what Obama is doing now anyway. He hasn't changed 1 iota in the middle east besides bolster up troops in Afghanistan. Basically it is Bush x10 with spending and poor decision making.

 

Boy I wish we could see the thread we did before the election. I think you would see SOME of our predictions pretty acurate. Incredible.

 

 

AND good bless anyone who was able to make it to a tea party. It really shows that AMERICANS are tired of the power hungry and want REAL change not the socialist change Obama wants, and is slowly getting.

 

Amen.

[SOTG Splinter]

The real reason behind the economic struggle.

 

[HogWild_101st]

Rorbotron ]

It's going to get worse before it gets better and maybe just maybe if the previous administration wasn't so careless the drastic measures in place wouldn't have been necessary. The tea parties were also hilarious. If all the spending is such a problem why isn't the war effort a problem? Last I checked it's the reason we're in such a ENORMOUS hole.

 

Sorry, can't let that statement slide without correcting this popular but wrong perception of why our economy is in the tank. I'll try not to make this a political statement, and stick to verifiable facts.

 

Fannie Mae and Freddie Mac collapsed first. What did Freddie and Fannie do? The guarenteed loans for other banks because Freddie and Fannie are government backed.

 

Fannie Mae was created by President Franklin Delanor Roosevelt back in the 1930's, it's when the government started to guarentee savings accounts to protect the people. A noble cause, and at the time prudent. When the Great Depression hit, people made a run on banks and took all their money out because they were afraid they would lose their money if the bank went under.

 

President Jimmy Carter signed into law the Community Reinvestment Act. It's main purpose was to make it easier for lower income family's to purchase a home. Back in the 70's, to get a home loan, you had to put down a 20% down payment first. It was this way for two primary reasons, to prove to the lender that you can save money, and to make the purchaser invested into the house. People are less likely to forclose on a house if they put down a 20% down payment. The Community Reinvestment Act encouraged banks not to require a 20% down payment. Not a lot happened with this as it was.

 

President Bill Clinton stengthened the Community Reinvestment Act by having Fannie Mae and Freddie Mac guarentee home mortgage loans of banks that lent money to high risk borrowers. The banks took advantage of it, if the loan defaulted, the government banks Fannie and Freddie would absorb the loss. This was the government's idea, not the banks.

 

In 2002 and 2004 President George Bush tried to reign in the practices of Fannie and Freddie, and were blocked by members of Congress. In 2005 Senator John McCain got legislation out of committee to reign in Fannie and Freddie, but it was never voted on in the Senate floor.

 

Now are those are facts. But Republican's are not blameless either. Between President Carter and now, we have had a Republican as President for 20 years (Reagan 8yrs, Bush1 4yrs, Bush2 8yrs) and the Community Reinvestment Act is still with us. Mostly because Republicans are looked upon as not being compassionate. Now we all get to pay for this social engineering that failed miserably.

 

There are other government policies that hurt our economy. Chrysler is about to go under and will if they don't get the merger deal with Fiat. CAFE standards has badly damage the U.S. auto industry. We have Chinese companies drilling for oil 60 miles off our coast, but U.S. companies are not allowed to do so. Ethanol is driving up food prices. Illegal immigration is driving down wages and costing us billions in healthcare that is paid for by the taxpayers. U.S. companies are moving overseas because of the oppressive taxes associated with doing business in the U.S. EPA regulations and requirements cost businesses billions ever year. Just to name a few.

 

Yes, there is plenty of blame to go around. Our government is doing this to us. Giving handouts is a bad idea, because it will only mean people and businesses will expect or even demand handouts down the line. It started with Bush and the TARP funds of 700 billion dollars, only 35 billion dollars are left, and the Treasury Department admits TARP was a failure. Obama has repeated that mistake.

[Chili327]

Good on ya mate..

 

I think im going to move to Australia. lol

[COWonCRACK]

now, im not puttin my foot anywhere but didnt the economy go to shit because of irresponsible americans? who dont know how to spend money wisely and get themselves into huge piles of debt? ya the government might have control over that, but isnt the real problem us?

 

and this seemed to be happening before obama? it seems like people are saying this woulda been fixed already if mccain had become president? please reply to me respectfully, its scary as hell even posting here, these are questions im just curious about.

[HogWild_101st]

COWonCRACK ]

but isnt the real problem us?

 

Not all of us. Only those of us who feel we are "entitled" to a home instead of living within their means. Those who feel "entitled" to a decent wage even though they drop out of high school and have no formal trianing and jump from job to job every couple of years, then wonder why they can't get ahead. The main excuse is that they are being held down by the "man". True enough they are being held down, but by their own poor decisions.

 

I had to work in my first career for 10 years before I made a decent wage. If I had it all to do over again, I would have gone to college right after high school and saved myself of going to college at night for years while working a full time job.

[Chili327]

HogWild ]

I had to work in my first career for 10 years before I made a decent wage. If I had it all to do over again, I would have gone to college right after high school and saved myself of going to college at night for years while working a full time job.

Me too. +1 ;D

Only i left the career i was in for 9 years right when i got to a decent wage. lol

Now, I started over almost 3 years ago. The decent wage is coming though.. I swear pretty soon.

[Guest [+30]PuddyTat]

Chili-Palmer ]

HogWild ]

I had to work in my first career for 10 years before I made a decent wage. If I had it all to do over again, I would have gone to college right after high school and saved myself of going to college at night for years while working a full time job.

Me too. +1 ;D

Only i left the career i was in for 9 years right when i got to a decent wage. lol

Now, I started over almost 3 years ago. The decent wage is coming though.. I swear pretty soon.

 

i know all about that...i quit college for my first career, buliding houses and such for 9 years. took seven of em to get to decent wages. then i quit that for my current occupation, oil and gas indusrty for 8 years now. took me about 3 years to get into good wages, and current wages, well, im not gonna comment

[Red0ctobeR]

I would like to say i told you so about this whole topic, but I am too busy being monitored for being a right wing extremist. I hope they stay away from my guns and ammunition stockpile.