Read it, and weep ...

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Oh come on do you expect every one to publish their thoughts to prove what they have said or thought ? Did you notice that the writer of the article indicated that this was coming. That was printed..
The trouble is that the people have no say. Elections simply apease some of us.
But FIY I did see this coming.... Any thing the governmant does to force help for those that have not earned what they are getting ends up in what is now part of the $12 trillion problem. Plain as day....

Oh I don't think they are actually failing. They want the power and are gaining the power every day. In our eyes they are failing but let me assure thaey age doing exactly what they want.
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On 1/15/2010 11:27 PM, Len wrote:

It did, for a whole lot of folks ... that was sort of the problem, eh?
Hindsight

First, show me how your particular occupation should be more prescient than any other ...
It is just another example of the failure of both

And, you are dead right on that score ...
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On 1/16/2010 12:27 AM, Len wrote:

Under this program described in 1999 when Clinton was President, I sold a house. While I was able to purchase my next house with an interest rate of about 5.4%, the person who bought my house finally got a loan for over 11%. She was a beautician, he was unemployed, they had an 85% debt to income ratio. With minimal income their monthly payment was twice what I was paying.
The outcome of this type of financial deals was obvious when we sold the house in 2000. We should be thanking the people at AGI, Fannie May, and others for being able to keep the lid on this disaster for as long as they did. They deserve every penny they got.
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On 1/16/2010 10:36 AM, Keith Nuttle wrote:

Instead, thank both your congressmen and the bankers who bought and paid for them. This is provably by design, and not accidental in the least ... can you say "home equity loan"?:
http://www.pbs.org/wgbh/pages/frontline/creditcards/view /
My Christmas present this year from my youngest daughter was that she would sit down with me and watch this, along with my commentary, and with her full undivided attention.
In return, I couldn't think of a better gift I could give her than for her to understand what most most of the ill educated fools in this country can't seem to grasp.
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You didn't give your daughter's age, but I'll assume that she understood what she watched or that you explained anything she didn't understand. And, that leads me to my question.
What did she say about the show and the current situation many now find themselves in?
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On 1/16/2010 10:59 AM, snipped-for-privacy@teksavvy.com wrote:

She's 24, back in town from college and living on her own (as much as her Mom will allow, of course).
Keep in mind I've been preaching at her for 24 years, so she was already aware of the fact that, unless you're wealthy, you _always_ need to know to the penny how much money you have or someone is going to take it a way from you, banks being the first in line through credit/debit cards, usurious interest and fee structures.
Thus far, she has not fallen into the trap, but did mention that almost all of her college classmates are drowning in debt, both credit card, and student loan, and acknowledges that they have been conditioned to be that way through the greed based machinations of bankers and their bought and paid for politicians.
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wrote:

Good for the both of you.
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wrote:

Likely learned from their parents.

Absolutely! ...learned from her parents.
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Swingman wrote:

If you were good parents, you'd have bought her a boat and let her go out to sea.
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wrote:

Yeah, but they should have done it 8 years ago.
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I am sometimes almost terrified at the utter naivete of us: you, me, and all those others, our happy little gang of six billion nitwits. We are so self assured in our petty knowledge. We always know, of course, that we were wrong before, but are sure that we are not wrong now. --Richard C. Henry
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The first signs of insanity:
"Continuing to do exactly the same thing and expecting different results."
Our greed-driven society?
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Folks bought too much home for too little income. Shame on the government for encouraging this financial irresponsibility. Ginnie Mae bonds, AAA rated, very good. Fannie and Freddie are basically high-risk junk.
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I guess that is hard not to do if you live too far east or west. I am amazed, when we watch the real estate shows on HGTV. They are selling an older California or Massachusetts home and I'm thinking "that's a $170,000 home. Then they show the $750,000 price. We are still selling new $300,000 homes in the plains states for around $300,000, not $1.5M.
RonB
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RonB wrote:

Some years ago a Cambridge MA resident was going to retire and move to Alabama. He put his house on the market and called a realtor in his soon to be new home town to set up appointments. When she heard the price range he was looking for, she replied "I don't think we have anything in that range". He ended up with a huge house on few acres on a river (dock and boat included) with fancy gardens and still put a few hundred thousand $ in the bank.
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wrote:

...and his property taxes likely were a quarter of what they were in MA. We bought 2x the house in Alabama, and the taxes are 25% of what they were in Vermont.
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wrote:

Chicago though is on a coast and prices were getting surreal.
Mark
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During the mid 70's home prices in Wichita, Ks skyrocketed for a while. We turned a home at nearly 100% gain in price in about four years (with about 20% of original cost in improvements). It has settled to a "healthy" pace since then. Even with the aerospace job losses the local market has not been crushed like other places. It is slow, but still some building and selling.
RonB
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