BBBBooming Economy Delinquencies at 29 Year High. - Page 2 - Mercedes-Benz Forum

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post #11 of 20 (permalink) Old 09-06-2008, 05:10 PM
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Originally Posted by mcbear View Post
I have looked at the data. The bubble was created and collapsed by a combination of speculators, equity borrowers, folks overbuying their capacity , layoffs, overbuilding, unemployment and layoffs and failing economy in some regions. If you want to blame it on one element that is your business but you might want to look at ALL the data before leaping at false assertions.

I have not only looked at the data, I actually understand what it means.
Could have fooled me...

Don't believe everything you think
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post #12 of 20 (permalink) Old 09-06-2008, 05:24 PM Thread Starter
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Could have fooled me...
I know, but I didn't have to.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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post #13 of 20 (permalink) Old 09-06-2008, 05:39 PM
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LOL THIS is why Politics don't belong on most forums. People do not care enough about anything to open their minds. They hold on to a single " Fact" even if it has been refuted by credible sources. Leave this stuff alone or get dragged into a needles argument that will go nowhere.

Houseing is a VERY small fraction of what is wrong now. It is just what they want YOU to focus on. So just keep up the infighting while others get rich off of your backs.

"Fortunate for those of us in power that the people do not think for themselves"

Adolf Hitler.
Dude, it's only Jayhawk that made housing the single reason for our crappy situation; I think the rest of the board here are a little wiser.
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post #14 of 20 (permalink) Old 09-06-2008, 05:40 PM
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I have to interject here, notably that the housing/sub prime issue stemmed from investment houses pushing their 'exotic funds' to investors, of which this funds were based on sub prime backed mortgages. Said funds were paying such incredible dividends that in some cases investment houses leveraged themselves to such a degree that they owned more exotic/sub prime backed funds then the company was worth (Meryl comes to mind here).

In short, there was a Push from brokerage houses for more of these funds which resulted in a sub prime push in lending and subsequent total disregard for the amount of risk being taken on.

To blame this bubble on housing speculators/flippers is flawed on many levels.

Jonathan
I agree, but it's jayhawk that wants to use that as an escape route to give a free pass to Bush and company
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post #15 of 20 (permalink) Old 09-06-2008, 11:20 PM
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The entire economy is based on debt. Borrowing and spending are the rule, and saving and producing are obsolete. From the family unit all the way to the U.S. Treasury. Anyone with sense knew it wasn't headed anywhere good. But the masses don't know any better, and with a kleptocratic government in office--with a vested interest in keeping those masses uninformed--there was little to stand in the way of a collapse.
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post #16 of 20 (permalink) Old 09-07-2008, 08:00 AM
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The entire economy is based on debt. Borrowing and spending are the rule, and saving and producing are obsolete. From the family unit all the way to the U.S. Treasury. Anyone with sense knew it wasn't headed anywhere good. But the masses don't know any better, and with a kleptocratic government in office--with a vested interest in keeping those masses uninformed--there was little to stand in the way of a collapse.
How unpatriotic of you to tell the truth We have a collection of axis of evils to fight out there, please restrain yourself and stick with the numbing of America program, it seems to have traction, just look at Jayhawk, Bottomfeeder and Multipoopies, pleased don't rock their world
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post #17 of 20 (permalink) Old 09-11-2008, 12:04 AM
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Dude, it's only Jayhawk that made housing the single reason for our crappy situation; ..
It is.
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post #18 of 20 (permalink) Old 09-11-2008, 09:37 AM
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"Jayhawk did it!"

Isn't that everyone's position about everything bad?

Don't believe everything you think
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post #19 of 20 (permalink) Old 09-11-2008, 01:26 PM
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^^^

People are saying that you single-handedly ruined the American economy? I must have missed that.

Delusions of grandeur!
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post #20 of 20 (permalink) Old 09-11-2008, 01:30 PM
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Originally Posted by mcbear View Post
I have looked at the data. The bubble was created and collapsed by a combination of speculators, equity borrowers, folks overbuying their capacity , layoffs, overbuilding, unemployment and layoffs and failing economy in some regions. If you want to blame it on one element that is your business but you might want to look at ALL the data before leaping at false assertions.
Agreed, but imho the two single greatest forces at work were securitization and the extremely low Fed rates.

Securitization, along with a significant degree of opacity attending it, meant that far too many people (as well as institutions) didn't really know what they were buying, and instead trusted their advisors, managers, and ratings agencies. All of whom appeared to have conflicting interests. This still needs to be dealt with somehow.

About the Fed rates, well they're at it again. In a hole and digging furiously.
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