It's the new TWW. We need to work on our unity.

You came across a bit harsh Ambrosia. Point taken though.

Anyone with any economic sense in 2002-2003 could have predicted this collapse. Seems like dissidents of ARM's were hushed by the media at that time.

6/27/2008 1:03:45 PM

Basic stupidity seems to set people off and, as per your 1990's diatribe, "no shit, sherlock," my critical thinking skills are shallow, if existent at all. Transitively, I must have caused some sort of pain, most likely mentally, that caused such a harsh reaction.

My bad.

6/27/2008 1:05:19 PM

Quote :

"You came across a bit harsh Ambrosia. Point taken though."

Apparently, I do that a lot

6/27/2008 1:06:25 PM

It was misdirected anger I believe. She was angry at the loan recipients.

6/27/2008 1:06:33 PM

I merely don't like the idea of powerful people picking on dumb people, in such an extreme scenario, like buying a house, as opposed to say, three-card monte. But I guess that's marketing, which was my major.




Anyway, I was at the job fair at the RBC Center and there were only about 25 booths total. Five for the professionals and 10 apiece for people in health care and technology/engineering.

6/27/2008 1:11:50 PM

Quote :

"give me a fuckin break. these people had no business buying a home in the first place. but yeah, they're the victims, because somehow, they were entitled to a house they couldn't afford to pay for, right? "

BobbyDigital

Damn!!!1 It only took a nationwide mortgage meltdown for me and BobbyD to agree--I shall savor this moment.

6/27/2008 3:28:36 PM

they came out with like 5 different kinds of

on top of other drinks like bacardi and even patron

6/27/2008 3:30:16 PM

if they had no reason buying a house why were they given mortgages?

6/27/2008 3:30:29 PM

That's a great question DNL. I you have watched anything besides political news for the last 6 years, you could prolly answer it yourself, though.

6/27/2008 3:34:26 PM

bad business practices.

the point is -- it's not the lenders' fault that people's houses were foreclosed on.

the lenders are at fault for being stuck with worthless loans, and owning houses that they can't liquidate.
the borrowers are at fault for trying to buy something they can't afford, and having to go back to renting.

In reality, the people who "lost their homes" were hurt the least.

6/27/2008 3:34:32 PM

doesnt that make home prices fall though?(which would be good for someone like me)

[Edited on June 27, 2008 at 3:36 PM. Reason : or someone that wants to make money with real estate?]

6/27/2008 3:35:47 PM

Yes DNL, now that you have landed that internship, you should be receiving loan offers every day now.

6/27/2008 3:39:40 PM

dude u suck at trolling

6/27/2008 3:41:23 PM

haha whatever homie.

Do you even have a credit card???

6/27/2008 3:41:57 PM

lol hell no...i only spend money i have unlike most people

6/27/2008 3:42:52 PM

So to answer your question then....No, now is not a good time for people like you to buy a home. You have no credit-which would have been okay in 2003, and you probably don't meet the requirements for income, which would have been okay in 2003 as well.

Those loans were granted with 3 or 5 year adj. rates, meaning that between 2006-2008 people went to refinance their homes, and their payments doubled as they still had no credit or significant income. Or, they financed more than the home was worth, the market tanked, and they were $50,000 upside down when they tried to sell.



[Edited on June 27, 2008 at 3:48 PM. Reason : f]

6/27/2008 3:45:45 PM

http://www.thewolfweb.com/message_topic.aspx?topic=531617

6/27/2008 4:03:28 PM

It pisses me off that Congress is talking about bailing these people out. I don't think the borrowers should be getting any money, and I don't think the lenders should be getting any money. Fuck all of them

6/27/2008 9:13:43 PM

^ hop on the boat

6/27/2008 9:17:06 PM

^^^
Just because you dont think they deserve it doesnt mean its not necessary. Theyre just trying to stop a sort of domino effect. Its just something that has to be done. There are tons of things that are so fucked about lending but you have to do it. The Cleveland Reserve actually rates banks highly if they have defaulted loans because it shows that they are giving money to those who are most desperate for it. Puh-leaze.

6/27/2008 9:26:33 PM

how empty the grocery store I work at is until food stamps come out

6/27/2008 9:31:39 PM

You might think "so some dumb ass is losing their house because the signed an ARM. So what?" Well the thing is there a million of dumb asses in America. And that changes the whole economy.

6/27/2008 9:40:07 PM

Less Moar hookers on sreet corners!

6/27/2008 9:45:51 PM

Yeah, it changes the economy, but a massive bailout like I've heard talked about will send the message of, "You make bad business decisions? No problem!" I think the economy would be able to ride it out without a bailout, it might just take some more time to rebound.

6/27/2008 9:50:31 PM

A bailout doesn't help the economy. It's not like problems magically go away. All it does is create moral hazard and shift problems around

6/27/2008 10:54:09 PM

Quote :

"Liberals thinking the way to solve the problem is by using the biggest tax increase since WWII "

I hope you realize that this is the first war that the citizens of this country didn't actually see a tax increase. Even during the first Gulf War, Bush Senior had to eat his own words and raise taxes.

Since our government has had to borrow money from other countries to fight the war(s), the dollar has lost value.

The price of oil has gone up everywhere due to greater demand around the world, but we are experiencing the biggest increase in price because the dollar has also lost value at the same time.

So maybe a tax increase is needed if we want to stabilize the value of the dollar.

6/27/2008 11:22:36 PM

im glad yall stayed on topic

6/27/2008 11:35:20 PM

^^ you spelled diamond wrong

6/27/2008 11:36:18 PM

you mean


"You spelled diamond incorrectly."
or really

"You misspelled diamond"

6/27/2008 11:38:12 PM

I've been to two beaches since memorial day.
hotels got cheaper the closer to our check in date. resturants were so slow that we joked "first available" when asked smoking or non. places we empty.
bars were closing early in wilmington

6/27/2008 11:41:24 PM

Less tourists on SoBe. This is a good thing.

6/28/2008 10:52:24 AM

i have less money and more bills.


oh, and it sucks being in outside sales with these gas prices.



that is all

6/28/2008 11:09:46 AM

Quote :

"lol hell no...i only spend money i have unlike most people"

drunknloaded

You didn't really think that one through, did you? Kind of like a lot of things with you.

Are you going to save until you have enough to pay cash for a house? Are you paying cash for college--no loans?

See, debt is neither good nor bad--it's the return on the debt that matters.

[Edited on June 29, 2008 at 6:21 AM. Reason : [NO TROLL]]

6/29/2008 6:20:28 AM

i had shitty credit and still got loans for college.

why isn't the government gonna bail me out?

6/29/2008 7:28:32 AM

bump

10/28/2008 8:11:27 AM

The yen is A+++ right now.

10/28/2008 8:26:56 AM

i can't fucking read that shit

10/28/2008 8:28:03 AM

My mom brought me wendy's chili last night. It's like the one fast food option that's truly not bad for you. Low in fat, high in fiber, not excessively high in sodium, and basically, the best thing to choose when you're stranded at work, don't want the meal you packed (FYI, smoked salmon is salty. I did not know this), and someone's doing you a favor.

Oh yeah - it's cheap, and thick and hearty. In my memory.

That shit was more liquid than anything else. And then onions. I'd estimate in the entire cup, there were ~1.5doz beans, and 7-10 bits of ground meat.

It wasn't even a thick, chili-like stew liquid. It was definitely watery

[Edited on October 28, 2008 at 8:33 AM. Reason : i.e., not worth the money any more.]

10/28/2008 8:32:53 AM

Basically read it as everyone is buying yen right now because other currencies are going down the shitter. See: http://news.bbc.co.uk/2/hi/business/7693020.stm

10/28/2008 8:33:12 AM

staffing cuts at the post office--office mail now can't be picked up until later in the morning, and it closes right at 5:00 versus the back door being opened for end of the day drop offs

10/28/2008 8:41:02 AM

whole foods has a great beef stew for $4 bucks.

10/28/2008 9:03:51 AM

Maybe its the area that in which I live, but I have definitely noticed that restaurants are considerably less crowded. There have been a few times over the past month that Ive gone out and had no wait, in places that are normally on a 15-30 min wait. Even on typically busy nights.

Ive also noticed a decrease in the number of unsolicited salespeople stopping by the office, as well as fewer cold calls. But maybe its because Ive started only answering every third call.

The good news: gas at $2.94

[Edited on October 28, 2008 at 9:14 AM. Reason : more]

10/28/2008 9:09:33 AM

breyers ice cream is now down to 1.5qt containers

also, iceland (one of the supposedly best places in the world to live) jacked up interest rates to 18%

http://news.bbc.co.uk/2/hi/business/7694785.stm

[Edited on October 28, 2008 at 9:13 AM. Reason : iceland]

10/28/2008 9:11:45 AM

walmart Great Value bratwursts have gone up a dollar (the 10-pack italian)

[Edited on October 28, 2008 at 9:22 AM. Reason : ]

10/28/2008 9:21:55 AM

My wife and I still have our jobs, thank God, but we are trying to watch our spending anyway. We haven't turned on the heat, wearing extra clothing instead. We're trying to eat out less. When we go out to bars with friends we avoid any place that has a cover charge and I don't drink. The nearby Steak N Shake is no longer open 24 hours. My employer has a company-wide salary freeze so I didn't get the raise that I would have otherwise.

10/28/2008 9:24:03 AM

Wendy's chili has always been hit or miss for me...but then again, I'm a chili snob. I have noticed that more restaurants are sending out coupons or have some sort of dinner deal to bring in customers. I know me and the husband are a little more concerned with our dining expenses.

10/28/2008 9:24:05 AM

i generally cook at home. if i'm out with friends I still have a nice dinner.

10/28/2008 9:27:11 AM

wake county govt is on a county-wide hiring freeze now. i guess i shouldn't be surprised, but i never thought i'd see the day when human services wasn't hiring

10/28/2008 9:33:31 AM

I have noticed more people showing up at my house. I guess its cheaper to drink my booze

10/28/2008 10:00:16 AM

I have noticed it's time for page 3

Set em up...

10/28/2008 10:01:54 AM