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Ex-SD.
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March 24, 2009 at 3:32 PM #373098March 24, 2009 at 3:39 PM #372494
denverite
ParticipantRe: the five reasons banks are not lending…
The banks are correctly assuming that the RE market will further deteriorate. Even if they have the so-called “bad assets” expunged from their books, more bad assets are being created in real time. They know that the Alt-A and current/future loans will create more toxic assets that they might have to eat.
March 24, 2009 at 3:39 PM #372777ParticipantRe: the five reasons banks are not lending…
The banks are correctly assuming that the RE market will further deteriorate. Even if they have the so-called “bad assets” expunged from their books, more bad assets are being created in real time. They know that the Alt-A and current/future loans will create more toxic assets that they might have to eat.
March 24, 2009 at 3:39 PM #372951ParticipantRe: the five reasons banks are not lending…
The banks are correctly assuming that the RE market will further deteriorate. Even if they have the so-called “bad assets” expunged from their books, more bad assets are being created in real time. They know that the Alt-A and current/future loans will create more toxic assets that they might have to eat.
March 24, 2009 at 3:39 PM #372995ParticipantRe: the five reasons banks are not lending…
The banks are correctly assuming that the RE market will further deteriorate. Even if they have the so-called “bad assets” expunged from their books, more bad assets are being created in real time. They know that the Alt-A and current/future loans will create more toxic assets that they might have to eat.
March 24, 2009 at 3:39 PM #373108ParticipantRe: the five reasons banks are not lending…
The banks are correctly assuming that the RE market will further deteriorate. Even if they have the so-called “bad assets” expunged from their books, more bad assets are being created in real time. They know that the Alt-A and current/future loans will create more toxic assets that they might have to eat.
March 24, 2009 at 3:44 PM #372499Arraya
Participant[quote=afx114][quote=arraya]Actually, that one is a little misleading because it does not add total debt. Here is a better one. And this is not counting the “modifications” in how we measure GDP that have slowly skewed things over the years.[/quote]
Interesting. Do you have similar data for other countries for comparison purposes?
[/quote]No, but I remember reading that the UK, Iceland and maybe Switzerland are/were worse off in the total debt scenario than the US. But that is just from memory.
March 24, 2009 at 3:44 PM #372782Participant[quote=afx114][quote=arraya]Actually, that one is a little misleading because it does not add total debt. Here is a better one. And this is not counting the “modifications” in how we measure GDP that have slowly skewed things over the years.[/quote]
Interesting. Do you have similar data for other countries for comparison purposes?
[/quote]No, but I remember reading that the UK, Iceland and maybe Switzerland are/were worse off in the total debt scenario than the US. But that is just from memory.
March 24, 2009 at 3:44 PM #372956Participant[quote=afx114][quote=arraya]Actually, that one is a little misleading because it does not add total debt. Here is a better one. And this is not counting the “modifications” in how we measure GDP that have slowly skewed things over the years.[/quote]
Interesting. Do you have similar data for other countries for comparison purposes?
[/quote]No, but I remember reading that the UK, Iceland and maybe Switzerland are/were worse off in the total debt scenario than the US. But that is just from memory.
March 24, 2009 at 3:44 PM #373000Participant[quote=afx114][quote=arraya]Actually, that one is a little misleading because it does not add total debt. Here is a better one. And this is not counting the “modifications” in how we measure GDP that have slowly skewed things over the years.[/quote]
Interesting. Do you have similar data for other countries for comparison purposes?
[/quote]No, but I remember reading that the UK, Iceland and maybe Switzerland are/were worse off in the total debt scenario than the US. But that is just from memory.
March 24, 2009 at 3:44 PM #373113Participant[quote=afx114][quote=arraya]Actually, that one is a little misleading because it does not add total debt. Here is a better one. And this is not counting the “modifications” in how we measure GDP that have slowly skewed things over the years.[/quote]
Interesting. Do you have similar data for other countries for comparison purposes?
[/quote]No, but I remember reading that the UK, Iceland and maybe Switzerland are/were worse off in the total debt scenario than the US. But that is just from memory.
March 25, 2009 at 4:44 AM #372713Ex-SD
ParticipantTHE CLAIM: Obama repeated his assertion that his housing bailout will help “stabilize the housing market and help responsible homeowners stay in their homes.”
THE FACTS: Even officials in his administration, many supporters of the plan in Congress and the Federal Reserve chairman have said some of the bailout money is bound to go to those who acted irresponsibly.
Fed Chairman Ben Bernanke has said it’s important for the nation to go ahead with the plan even though it means assistance will go to some who should have known better than to get in over their heads.
Sheila Bair, head of the Federal Deposit Insurance Corp., made a similar point when she said it’s “simply impractical” to examine every delinquent loan and weed out those taken by people who overstated their income or assets to get a mortgage they couldn’t afford.
___
THE CLAIM: Responding to Republican critics in Congress who say his proposed budget carries an irresponsible deficit, Obama said, “I suspect that some of those Republican critics have a short memory, because, as I recall, I’m inheriting a $1.3 trillion deficit, annual deficit, from them.”
FACT: Obama inherited a whopper of a deficit, much of it due to policies and spending led by Republican President George W. Bush. But the Congress, which authorizes spending and is not blameless in driving up deficits, was controlled by Democrats in the last two years of Bush’s presidency.
March 25, 2009 at 4:44 AM #372997ParticipantTHE CLAIM: Obama repeated his assertion that his housing bailout will help “stabilize the housing market and help responsible homeowners stay in their homes.”
THE FACTS: Even officials in his administration, many supporters of the plan in Congress and the Federal Reserve chairman have said some of the bailout money is bound to go to those who acted irresponsibly.
Fed Chairman Ben Bernanke has said it’s important for the nation to go ahead with the plan even though it means assistance will go to some who should have known better than to get in over their heads.
Sheila Bair, head of the Federal Deposit Insurance Corp., made a similar point when she said it’s “simply impractical” to examine every delinquent loan and weed out those taken by people who overstated their income or assets to get a mortgage they couldn’t afford.
___
THE CLAIM: Responding to Republican critics in Congress who say his proposed budget carries an irresponsible deficit, Obama said, “I suspect that some of those Republican critics have a short memory, because, as I recall, I’m inheriting a $1.3 trillion deficit, annual deficit, from them.”
FACT: Obama inherited a whopper of a deficit, much of it due to policies and spending led by Republican President George W. Bush. But the Congress, which authorizes spending and is not blameless in driving up deficits, was controlled by Democrats in the last two years of Bush’s presidency.
March 25, 2009 at 4:44 AM #373170ParticipantTHE CLAIM: Obama repeated his assertion that his housing bailout will help “stabilize the housing market and help responsible homeowners stay in their homes.”
THE FACTS: Even officials in his administration, many supporters of the plan in Congress and the Federal Reserve chairman have said some of the bailout money is bound to go to those who acted irresponsibly.
Fed Chairman Ben Bernanke has said it’s important for the nation to go ahead with the plan even though it means assistance will go to some who should have known better than to get in over their heads.
Sheila Bair, head of the Federal Deposit Insurance Corp., made a similar point when she said it’s “simply impractical” to examine every delinquent loan and weed out those taken by people who overstated their income or assets to get a mortgage they couldn’t afford.
___
THE CLAIM: Responding to Republican critics in Congress who say his proposed budget carries an irresponsible deficit, Obama said, “I suspect that some of those Republican critics have a short memory, because, as I recall, I’m inheriting a $1.3 trillion deficit, annual deficit, from them.”
FACT: Obama inherited a whopper of a deficit, much of it due to policies and spending led by Republican President George W. Bush. But the Congress, which authorizes spending and is not blameless in driving up deficits, was controlled by Democrats in the last two years of Bush’s presidency.
March 25, 2009 at 4:44 AM #373214ParticipantTHE CLAIM: Obama repeated his assertion that his housing bailout will help “stabilize the housing market and help responsible homeowners stay in their homes.”
THE FACTS: Even officials in his administration, many supporters of the plan in Congress and the Federal Reserve chairman have said some of the bailout money is bound to go to those who acted irresponsibly.
Fed Chairman Ben Bernanke has said it’s important for the nation to go ahead with the plan even though it means assistance will go to some who should have known better than to get in over their heads.
Sheila Bair, head of the Federal Deposit Insurance Corp., made a similar point when she said it’s “simply impractical” to examine every delinquent loan and weed out those taken by people who overstated their income or assets to get a mortgage they couldn’t afford.
___
THE CLAIM: Responding to Republican critics in Congress who say his proposed budget carries an irresponsible deficit, Obama said, “I suspect that some of those Republican critics have a short memory, because, as I recall, I’m inheriting a $1.3 trillion deficit, annual deficit, from them.”
FACT: Obama inherited a whopper of a deficit, much of it due to policies and spending led by Republican President George W. Bush. But the Congress, which authorizes spending and is not blameless in driving up deficits, was controlled by Democrats in the last two years of Bush’s presidency.
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