The big jump in interest rates are scheduled to start in January so we won't know how much it will affect the econ but most of the big economists and investment firms seem to believe the mortgage issue is worse than orginally predicted.
Massive foreclosures also lead to increased crime rates, depressed home values and decreased tax revenues.
It's not a hand out.
Mortgage companies don't get raped with a bunch of defaults and people get to keep their homes. Aside from your own personal beliefs, this solution seems pretty pragmatic.
Two feet.
Evan Wrote:(now whether or not it actually is a "crisis" is another matter-- statistics for foreclosures are not dramatically up)
False. Foreclosures are at a record high.
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.RJ Wrote:Is devaluation of the dollar a bad thing? No, I'm not joking. If our stuff is "worth" less to other countries, there's more trade involved - its not worth any less to us while we're selling more goods.
Did you really just say that? I had to read it three times to see if you did.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
asteele2 Wrote:Evan Wrote:Since the banks will take a small hit, they should teach them not to give out a loan to anyone with a pulse.
We shouldn't just cut rates and never raise them, then. We're giving them an incentive to lend low. Yay Fed! I take it you dont buy into monetarist policy then? 
mrbaggio Wrote:Evan Wrote:(now whether or not it actually is a "crisis" is another matter-- statistics for foreclosures are not dramatically up)
False. Foreclosures are at a record high.
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"all time high" is irrelevant, especially considering home ownership is at an all time high as well.
A few fractions of 1 percent does not mean doom and gloom for the entire economy. Its the frenzy and overreaction that has hurt the economy more than anything.
Andy Wrote:The big jump in interest rates are scheduled to start in January
January? Already happening.
![[Image: mortgage_reset.jpg]](http://www.nsxfiles.com/images9/mortgage_reset.jpg)
Andy Wrote:so we won't know how much it will affect the econ but most of the big economists and investment firms seem to believe the mortgage issue is worse than orginally predicted.
Are economic predictions ever correct?
Andy Wrote:this solution seems pretty pragmatic.
It is. Its a good one. I just think those people that bought the mcmansions to keep up with the jones should DIAF.
(09-25-2019, 03:18 PM)V1GiLaNtE Wrote: I think you need to see a mental health professional.
Apoc Wrote:.RJ Wrote:Is devaluation of the dollar a bad thing? No, I'm not joking. If our stuff is "worth" less to other countries, there's more trade involved - its not worth any less to us while we're selling more goods.
Did you really just say that? I had to read it three times to see if you did.
weak dollar is not a bad thing at all.
why do you think China keeps their currency devalued on purpose?
Apoc Wrote:Did you really just say that? I had to read it three times to see if you did.
I did. I dont know a whole lot about world economy (never took econ in college), but not everything being sent out by the media that is supposedly fueling the next great depression (if you believe all of it) is really that big of a deal.
(09-25-2019, 03:18 PM)V1GiLaNtE Wrote: I think you need to see a mental health professional.
You've been drinking too much Republican juice Evan. 
Yes it helps exporters (why China does it) but at what cost?
Here's an excerpt about the downsides...
The dollarÔÇÖs fall will reduce the huge international subsidy enjoyed for two decades by the US economy, ultimately shrinking the standard of living of US citizens. What will be the effect of a crumbling dollar on the US stock markets and other investment vehicles, as foreigners withdraw their funds out of fear that the dollar may fall further? And how may this all affect US foreign policy, WashingtonÔÇÖs enormous military apparatus, and the costs of campaigns in Afghanistan, Iraq and elsewhere?
There's that and fact that I don't want to have to pay twice as much for everything in England. :wink: It really whores international travel both for leisure and business. It costs more to do business overseas, increasing expenses.... how do companies cover those expenses? Raise prices.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
Apoc Wrote:You've been drinking too much Republican juice Evan.
Yes it helps exporters (why China does it) but at what cost?
Here's an excerpt about the downsides...
The dollarÔÇÖs fall will reduce the huge international subsidy enjoyed for two decades by the US economy, ultimately shrinking the standard of living of US citizens. What will be the effect of a crumbling dollar on the US stock markets and other investment vehicles, as foreigners withdraw their funds out of fear that the dollar may fall further? And how may this all affect US foreign policy, WashingtonÔÇÖs enormous military apparatus, and the costs of campaigns in Afghanistan, Iraq and elsewhere?
More importantly, Derecola's eurotrash will cost him more to purchase from the dealers. 
RGAY Wrote:January? Already happening.
That's what I've been reading. God knows I'm no expert but I could've sworn that's why the freeze is going to occur in December because the big jump is happening after the new year.
Two feet.
.RJ Wrote:Is devaluation of the dollar a bad thing? No, I'm not joking. If our stuff is "worth" less to other countries, there's more trade involved - its not worth any less to us while we're selling more goods..
I'm just going to pretend you were joking.
When it comes to Ryan Jenkins, the story ends with me putting him in the wall.
2009 Speed Triple | 2006 DR-Z400SM | 1999 CBR600F4 | 1998 Jeep Cherokee
-Ginger
Andy Wrote:That's what I've been reading. God knows I'm no expert but I could've sworn that's why the freeze is going to occur in December because the big jump is happening after the new year.
We're in month 11 of that graph. Its already in full swing and the bottom is dropping out of the over-speculated markets (DC, SoCal, etc).
(09-25-2019, 03:18 PM)V1GiLaNtE Wrote: I think you need to see a mental health professional.
asteele2 Wrote:I'm just going to pretend you were joking.
Look at things from both sides of the fence instead of absolutes. Just sayin'. Not all doom and gloom here.
(09-25-2019, 03:18 PM)V1GiLaNtE Wrote: I think you need to see a mental health professional.
I don't think anyone was talking about doom and gloom... just that the upside does not offset the downside. No it won't cause the next Great Depression but a valuable dollar, at least not a whorishly weak one, is a good thing.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
.RJ Wrote:asteele2 Wrote:I'm just going to pretend you were joking.
Look at things from both sides of the fence instead of absolutes. Just sayin'. Not all doom and gloom here.
Maybe you should have taken an econ class.
I can't seriously believe that you think a devaluing dollar is anything but a bad thing. We don't live in government run economy China land. And that's not a happy place to be, either. When your money is worth less, it buys less. End of story.
When it comes to Ryan Jenkins, the story ends with me putting him in the wall.
2009 Speed Triple | 2006 DR-Z400SM | 1999 CBR600F4 | 1998 Jeep Cherokee
-Ginger
A strong dollar is also important to the Europeans. Airbus prices their planes in dollars. A weaker dollar means their shit is worth less. According to their CEO, it's actually hurting their margins.
Euro car companies are also concerned because a weaker dollar means more expensive cars which hurt their selling power.
Two feet.
asteele2 Wrote:When your money is worth less, it buys less
I dont pay any more for things, other than gas really, than I did 5 years ago.
Its all about me. And I pay for convenience :lol:
(09-25-2019, 03:18 PM)V1GiLaNtE Wrote: I think you need to see a mental health professional.
.RJ Wrote:Andy Wrote:That's what I've been reading. God knows I'm no expert but I could've sworn that's why the freeze is going to occur in December because the big jump is happening after the new year.
We're in month 11 of that graph. Its already in full swing and the bottom is dropping out of the over-speculated markets (DC, SoCal, etc).
So november equals 11? Gotcha.
I'm not saying it's not happening but what I've read is that its going to get worse.
Two feet.
Andy Wrote:what I've read is that its going to get worse.
Good. I want to buy a house in a few years. Its all about ME.
(09-25-2019, 03:18 PM)V1GiLaNtE Wrote: I think you need to see a mental health professional.
.RJ Wrote:asteele2 Wrote:When your money is worth less, it buys less
I dont pay any more for things, other than gas really, than I did 5 years ago.
Its all about me. And I pay for convenience :lol:
The Canadian dollar is worth more than the American dollar now. And it's not because the Canadians suddenly figured out Market Majik. Seriously, if you believe that a weak dollar isn't bad, you're fucking loony.
When it comes to Ryan Jenkins, the story ends with me putting him in the wall.
2009 Speed Triple | 2006 DR-Z400SM | 1999 CBR600F4 | 1998 Jeep Cherokee
-Ginger
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