Strike 2 Trump, do you want to be hung with the banksters when we take our country back?

[Octavian]

The worse part is the CDO's that took the banks skin out of the game, so they could commit fraud, without consequence, still exist.

We need more regulation in banking, not less.

No kidding. This concept that taking the chains of business will just catapult GDP is fox in the henhouse stuff. It's just finance run amok and further wealth transfer to the elite in plain sight.

 

[SouthoftheAndes]

When are we going to accept that TPP wasn't bad? Why are we still championing trade protectionism and hating on liberalizing trade? It's like we've warped back 80 years just to support our guy and stay in the tribe.

I think there are pros and cons it all depends on what you want and value. I don't hate the TPP but I think dissolving it and doing something alternate could be better depending what we structure. There is no doubt though that TPP is what corporations want and the corporate elite class and neoliberals. Not to mention all the people it would of put out of work. With that said I realize there are valid arguments about needing go sacrifice some people's work and livelihood in order to better expand and gain in more technologically advanced sectors.


By the way I am still waiting for that apology in that thread about Trump's Jewish Advisor who is anti-globalization. You insinuated that I was racist or race baiting when really I was trying to prove antisemitic conspiracy theories false!

 

[Letssnuggle]

So you've saved 40k then? How long would it take you to save 40k starting from nothing right now? Years, right?

The average income in the US is about 50k. Yes, I believe that the average middle income family should be able to buy a home. Do you really think anyone making 50k a year and trying to support a family can "easily save" 40k? Obviously math is hard for you.

Yes, I put down over 40k so that I did NOT pay mortgage insurance.

It's none of your business how fast it'd take me to save 40k. Though I will say well under 8 years.

Saving 10% of household income is a reasonable expectation. 10% of 50k is 5k a year. It should take the average household 8 years to save for a down payment.

It took me 10 years to buy my first house. It cost 160k. You're full of it.

 

[SouthoftheAndes]

The worse part is the CDO's that took the banks skin out of the game, so they could commit fraud, without consequence, still exist.

We need more regulation in banking, not less.

I agree.

But remember when I defended big banks and would of argued with you on the wonders and beauty of CDO's and the practices done?

 

[SouthoftheAndes]

Yeah TPP helped his stock with me, but his new CIA director lost that stock and then some. Out there telling bold faced lies about the NSA, Gitmo, and CIA torture programs.

Global research which has a huge bias is touting Trump as a protectionist populist who is corporate friendly with a nationalist outlook.

It can work. State supported capitalism can work for the people but I do have hope for some things given his protectionist stances. Where we will lose out is the minimum wage since the GOP seems to revel in the poor being poor despite MW not keeping up with inflation.

If your primary stances is economic then torpedoing TPP is huge.

 

[VivaRevolution]

I agree.

But remember when I defended big banks and would of argued with you on the wonders and beauty of CDO's and the practices done?

Oh yes, You have grown a lot in recent times. That is good, it is proof of critical thinking. I still evolve all the time.

I am absolutely confused by what is occurring between China, Russia, US, Iran, and the Davos banksters. Seems to be a lot of cross interests involved here.

 

[VivaRevolution]

Global research which has a huge bias is touting Trump as a protectionist populist who is corporate friendly with a nationalist outlook.

It can work. State supported capitalism can work for the people but I do have hope for some things given his protectionist stances. Where we will lose out is the minimum wage since the GOP seems to revel in the poor being poor despite MW not keeping up with inflation.

If your primary stances is economic then torpedoing TPP is huge.

It is, renegotiating NAFTA would be even bigger. It is one thing to kill something that never was, it is another to overturn something that has been in place for 20 years plus.

I have basically accepted Trump as a mixed bag president.

Doesn't mean I will let him off the hook for the side of the bag that serves his fellow oligarchs.

 

[chardog]

No, you don't get it. The banks were fraudulently filling out loan applications for people they knew didn't qualify for the loan.

I don't know how much more clearly I can state that the GFC was the result of rampant industry wide fraud and theft on a massive scale.

So how does making it easier to qualify help if that's your complaint?

 

[VivaRevolution]

So how does making it easier to qualify help if that's your complaint?

It doesn't, either way, but what Obama did was put a price cap on profiteering on insurance that is federally required.

What Trump is doing here is removing the regulation against profiteering.

 

[ripskater]

alot of dudes here main account is a gimmick account so they have a second account they can post their out of character stuff on. Like when Rip wants to talk about banging hookers or TCB wants to talk about cocaine in the OT, they can switch accounts and go there.

Lol. I just saw this.

@TheComebackKid

 

[KONG-D'SNT-TAP]

most people don't realize that prime borrowers defaulted at the same rates as subprime borrowers. I would venture to say prime borrowers defaulted at even higher rates than subprime lenders. So the financial crash wasn't driven by the "unqualified." It would nice to say 20% would've prevented all of this from happening but that isn't necessarily the truth.

And even if subprime showed signs of failing there was nothing there to help their fall. As we saw with Wall Street these subprime loans were bundled for the open markets and fincancial institutions knowingly sold these and invested clients money into them knowing they were destined to fail. In many of the cases they 'wanted' them to fail as they bought overwhelming amounts of insurance 'in case' this transpired. Supplying them with money from both ends of the scam. From the clients they originally invested and then from the failure of the products they were selling.

 

[TheComebackKid]

Lol. I just saw this.

@TheComebackKid

I'm pretty sure I've talked about cocaine on this account lol

 

[ripskater]

I'm pretty sure I've talked about cocaine on this account lol

Lol, I'm pretty sure I haven't talked about banging hookers.
At least on this account.

 

[RedSoul]

Yes, I put down over 40k so that I did NOT pay mortgage insurance.

It's none of your business how fast it'd take me to save 40k. Though I will say well under 8 years.

Saving 10% of household income is a reasonable expectation. 10% of 50k is 5k a year. It should take the average household 8 years to save for a down payment.

It took me 10 years to buy my first house. It cost 160k. You're full of it.

So you think a family making 50k can easily save 5k a year? Hmm. Not to mention that your original statement was 20%, not 10%. Could be a typo, could be you moving the goalposts. Who knows.

 

[Octavian]

I think there are pros and cons it all depends on what you want and value. I don't hate the TPP but I think dissolving it and doing something alternate could be better depending what we structure. There is no doubt though that TPP is what corporations want and the corporate elite class and neoliberals. Not to mention all the people it would of put out of work. With that said I realize there are valid arguments about needing go sacrifice some people's work and livelihood in order to better expand and gain in more technologically advanced sectors.


By the way I am still waiting for that apology in that thread about Trump's Jewish Advisor who is anti-globalization. You insinuated that I was racist or race baiting when really I was trying to prove antisemitic conspiracy theories false!

Serious question - have you read anything definitive and credible on numbers of people that would be put out of work?

 

[Letssnuggle]

So you think a family making 50k can easily save 5k a year? Hmm. Not to mention that your original statement was 20%, not 10%. Could be a typo, could be you moving the goalposts. Who knows.

Save 10% per year.... not the 20% needed as down payment to avoid mortgage insurance. This isn't hard. Could be willful ignorance or just a honest mistake. Who knows.

 

[SouthoftheAndes]

most people don't realize that prime borrowers defaulted at the same rates as subprime borrowers. I would venture to say prime borrowers defaulted at even higher rates than subprime lenders. So the financial crash wasn't driven by the "unqualified." It would nice to say 20% would've prevented all of this from happening but that isn't necessarily the truth.

And even if subprime showed signs of failing there was nothing there to help their fall. As we saw with Wall Street these subprime loans were bundled for the open markets and fincancial institutions knowingly sold these and invested clients money into them knowing they were destined to fail. In many of the cases they 'wanted' them to fail as they bought overwhelming amounts of insurance 'in case' this transpired. Supplying them with money from both ends of the scam. From the clients they originally invested and then from the failure of the products they were selling.

I thought the selling of knowingly bad products only occurred once the banks became aware that they were holding garbage which was during the start of the crisis and throughout.

Prior to that I thought the banks didn't know they would fail.

In fact that is what I have been taught and read. And even in the Big short they make it seem like the banks were really arrogant and largely unprepared for what happened.

Hence why only a few smart players actually made any money out of the crisis via buying insurance on the MBS's and CDO's.

Lol, I'm pretty sure I haven't talked about banging hookers.
At least on this account.

God approves

Serious question - have you read anything definitive and credible on numbers of people that would be put out of work?

No I haven't but I can believe it. It makes sense and those jobs have to go somewhere.

Even the Wall Street Journal thing I read on the pros and cons of TPP showed losses in certain industries which means those people lose work.


Also, still waiting for that apology!

 

[Toastytoy]

You guys need to get your talking points in line. Are leftists extremely violent, and responsible for more death in the world then any other group, or are we limp wristed s?

One of these things is not like the others........

oh definitly limp wristed s

 

[RedSoul]

Save 10% per year.... not the 20% needed as down payment to avoid mortgage insurance. This isn't hard. Could be willful ignorance or just a honest mistake. Who knows.

Saving 10% of your 50k income while raising children is not easy, and for some not possible.

There is no reason that a person should have to have 20% down if they can get financed anyway, unless they cannot afford the mortgage payment on the larger amount.

 

[Letssnuggle]

Saving 10% of your 50k income while raising children is not easy, and for some not possible.

There is no reason that a person should have to have 20% down if they can get financed anyway, unless they cannot afford the mortgage payment on the larger amount.

If a family can't save 10% of their income for a down payment, they should rent. Because they can't afford a home. Typically, 25% of a families income goes toward a mortgage.

You tell me, if a family cannot be expected to save 10% of their income before owning a home then how will they be able to pay 25% of their income once they have a mortgage payment?