[Arraya]

[quote=JohnAlt91941][quote=joec]

A family member of mine bought a place which has dropped nearly 70% now and I think for them, they should just walk away actually, but if they wanted to lower their interest rate from 6% to 4%, heck, give it to them…It’s wiser for them to actually walk away though. I don’t see how doing this “hurts” you when they can use that money to buy goods, travel, etc…to boost the economy.[/quote]

Any government handout has the same effect. Why should this group be favored?[/quote]

Because they are mortgage debt holders. Figure it out.

[Arraya]

[quote=JohnAlt91941][quote=joec]

A family member of mine bought a place which has dropped nearly 70% now and I think for them, they should just walk away actually, but if they wanted to lower their interest rate from 6% to 4%, heck, give it to them…It’s wiser for them to actually walk away though. I don’t see how doing this “hurts” you when they can use that money to buy goods, travel, etc…to boost the economy.[/quote]

Any government handout has the same effect. Why should this group be favored?[/quote]

Because they are mortgage debt holders. Figure it out.

[Arraya]

[quote=JohnAlt91941][quote=joec]

A family member of mine bought a place which has dropped nearly 70% now and I think for them, they should just walk away actually, but if they wanted to lower their interest rate from 6% to 4%, heck, give it to them…It’s wiser for them to actually walk away though. I don’t see how doing this “hurts” you when they can use that money to buy goods, travel, etc…to boost the economy.[/quote]

Any government handout has the same effect. Why should this group be favored?[/quote]

Because they are mortgage debt holders. Figure it out.

[Arraya]

[quote=JohnAlt91941][quote=joec]

A family member of mine bought a place which has dropped nearly 70% now and I think for them, they should just walk away actually, but if they wanted to lower their interest rate from 6% to 4%, heck, give it to them…It’s wiser for them to actually walk away though. I don’t see how doing this “hurts” you when they can use that money to buy goods, travel, etc…to boost the economy.[/quote]

Any government handout has the same effect. Why should this group be favored?[/quote]

Because they are mortgage debt holders. Figure it out.

[Arraya]

[quote=CONCHO]Hahahahahaha I love it! Multiple wars with no end in sight, the largest debt accumulated in the history of the earth, infrastructure rotting across the country, record unemployment, jobs flying overseas faster than ever, a drug war raging out of control on the border, a healthcare system that is broken beyond repair, and probably about 1000 other things that I can’t be bothered to name here.

And what are we talking about? Divisive “values issues” like abortion, gay marriage, “don’t-ask-don’t tell” etc…, just like we were talking about in 2007, just like we were talking about in 2003, in 1999, in 1995, in 1991, in 1986…[/quote]

Yeah, no kidding.

The US Empire is entering late-stage capitalist imperialism and all that entails: export the proletariat for cheap labor, constant resource wars, more and more militarization of the economy and society, rapid growth of a bloated and corrupt financial capitalist over-class with associated growing wealth disparity(beyond what was seen in the Robber Barren days) and maintenance of a ever-growing police state and underclass( a police state is a huge industry btw) with constant economic crisis and constant monetary injections to keep asset prices up and the consumer economy goosed(which is driven by the top 20% – the bottom 80% can wither up and die as far as anybody is concerned).

Eventually the system will alienate the majority of the population under it’s current logic, one way or another. Or just implode.

This is not a rational society.

I forgot to add the dramatic mental and physical health deterioration that has been going on for decades that is now at epidemic levels and worsening.

[Arraya]

[quote=CONCHO]Hahahahahaha I love it! Multiple wars with no end in sight, the largest debt accumulated in the history of the earth, infrastructure rotting across the country, record unemployment, jobs flying overseas faster than ever, a drug war raging out of control on the border, a healthcare system that is broken beyond repair, and probably about 1000 other things that I can’t be bothered to name here.

And what are we talking about? Divisive “values issues” like abortion, gay marriage, “don’t-ask-don’t tell” etc…, just like we were talking about in 2007, just like we were talking about in 2003, in 1999, in 1995, in 1991, in 1986…[/quote]

Yeah, no kidding.

The US Empire is entering late-stage capitalist imperialism and all that entails: export the proletariat for cheap labor, constant resource wars, more and more militarization of the economy and society, rapid growth of a bloated and corrupt financial capitalist over-class with associated growing wealth disparity(beyond what was seen in the Robber Barren days) and maintenance of a ever-growing police state and underclass( a police state is a huge industry btw) with constant economic crisis and constant monetary injections to keep asset prices up and the consumer economy goosed(which is driven by the top 20% – the bottom 80% can wither up and die as far as anybody is concerned).

Eventually the system will alienate the majority of the population under it’s current logic, one way or another. Or just implode.

This is not a rational society.

I forgot to add the dramatic mental and physical health deterioration that has been going on for decades that is now at epidemic levels and worsening.

[Arraya]

[quote=CONCHO]Hahahahahaha I love it! Multiple wars with no end in sight, the largest debt accumulated in the history of the earth, infrastructure rotting across the country, record unemployment, jobs flying overseas faster than ever, a drug war raging out of control on the border, a healthcare system that is broken beyond repair, and probably about 1000 other things that I can’t be bothered to name here.

And what are we talking about? Divisive “values issues” like abortion, gay marriage, “don’t-ask-don’t tell” etc…, just like we were talking about in 2007, just like we were talking about in 2003, in 1999, in 1995, in 1991, in 1986…[/quote]

Yeah, no kidding.

The US Empire is entering late-stage capitalist imperialism and all that entails: export the proletariat for cheap labor, constant resource wars, more and more militarization of the economy and society, rapid growth of a bloated and corrupt financial capitalist over-class with associated growing wealth disparity(beyond what was seen in the Robber Barren days) and maintenance of a ever-growing police state and underclass( a police state is a huge industry btw) with constant economic crisis and constant monetary injections to keep asset prices up and the consumer economy goosed(which is driven by the top 20% – the bottom 80% can wither up and die as far as anybody is concerned).

Eventually the system will alienate the majority of the population under it’s current logic, one way or another. Or just implode.

This is not a rational society.

I forgot to add the dramatic mental and physical health deterioration that has been going on for decades that is now at epidemic levels and worsening.

[Arraya]

[quote=CONCHO]Hahahahahaha I love it! Multiple wars with no end in sight, the largest debt accumulated in the history of the earth, infrastructure rotting across the country, record unemployment, jobs flying overseas faster than ever, a drug war raging out of control on the border, a healthcare system that is broken beyond repair, and probably about 1000 other things that I can’t be bothered to name here.

And what are we talking about? Divisive “values issues” like abortion, gay marriage, “don’t-ask-don’t tell” etc…, just like we were talking about in 2007, just like we were talking about in 2003, in 1999, in 1995, in 1991, in 1986…[/quote]

Yeah, no kidding.

The US Empire is entering late-stage capitalist imperialism and all that entails: export the proletariat for cheap labor, constant resource wars, more and more militarization of the economy and society, rapid growth of a bloated and corrupt financial capitalist over-class with associated growing wealth disparity(beyond what was seen in the Robber Barren days) and maintenance of a ever-growing police state and underclass( a police state is a huge industry btw) with constant economic crisis and constant monetary injections to keep asset prices up and the consumer economy goosed(which is driven by the top 20% – the bottom 80% can wither up and die as far as anybody is concerned).

Eventually the system will alienate the majority of the population under it’s current logic, one way or another. Or just implode.

This is not a rational society.

I forgot to add the dramatic mental and physical health deterioration that has been going on for decades that is now at epidemic levels and worsening.

[Arraya]

[quote=CONCHO]Hahahahahaha I love it! Multiple wars with no end in sight, the largest debt accumulated in the history of the earth, infrastructure rotting across the country, record unemployment, jobs flying overseas faster than ever, a drug war raging out of control on the border, a healthcare system that is broken beyond repair, and probably about 1000 other things that I can’t be bothered to name here.

And what are we talking about? Divisive “values issues” like abortion, gay marriage, “don’t-ask-don’t tell” etc…, just like we were talking about in 2007, just like we were talking about in 2003, in 1999, in 1995, in 1991, in 1986…[/quote]

Yeah, no kidding.

The US Empire is entering late-stage capitalist imperialism and all that entails: export the proletariat for cheap labor, constant resource wars, more and more militarization of the economy and society, rapid growth of a bloated and corrupt financial capitalist over-class with associated growing wealth disparity(beyond what was seen in the Robber Barren days) and maintenance of a ever-growing police state and underclass( a police state is a huge industry btw) with constant economic crisis and constant monetary injections to keep asset prices up and the consumer economy goosed(which is driven by the top 20% – the bottom 80% can wither up and die as far as anybody is concerned).

Eventually the system will alienate the majority of the population under it’s current logic, one way or another. Or just implode.

This is not a rational society.

I forgot to add the dramatic mental and physical health deterioration that has been going on for decades that is now at epidemic levels and worsening.

[Arraya]

[quote=Jacarandoso]We’ve got usury on steroids, getting and spending on meth, and out of control welfare in all kinds of sickening forms. Let’s prop it up![/quote]

Yup, that is essentially what is has become. A virtual freak show of systemic bad behavior and fraud that depends on lack of transparency to maintain it. I can’t see it ending well.

On the other side of the equation is probably an epochal depression.

[Arraya]

[quote=Jacarandoso]We’ve got usury on steroids, getting and spending on meth, and out of control welfare in all kinds of sickening forms. Let’s prop it up![/quote]

Yup, that is essentially what is has become. A virtual freak show of systemic bad behavior and fraud that depends on lack of transparency to maintain it. I can’t see it ending well.

On the other side of the equation is probably an epochal depression.

[Arraya]

[quote=Jacarandoso]We’ve got usury on steroids, getting and spending on meth, and out of control welfare in all kinds of sickening forms. Let’s prop it up![/quote]

Yup, that is essentially what is has become. A virtual freak show of systemic bad behavior and fraud that depends on lack of transparency to maintain it. I can’t see it ending well.

On the other side of the equation is probably an epochal depression.

[Arraya]

[quote=Jacarandoso]We’ve got usury on steroids, getting and spending on meth, and out of control welfare in all kinds of sickening forms. Let’s prop it up![/quote]

Yup, that is essentially what is has become. A virtual freak show of systemic bad behavior and fraud that depends on lack of transparency to maintain it. I can’t see it ending well.

On the other side of the equation is probably an epochal depression.

[Arraya]

[quote=Jacarandoso]We’ve got usury on steroids, getting and spending on meth, and out of control welfare in all kinds of sickening forms. Let’s prop it up![/quote]

Yup, that is essentially what is has become. A virtual freak show of systemic bad behavior and fraud that depends on lack of transparency to maintain it. I can’t see it ending well.

On the other side of the equation is probably an epochal depression.

[Arraya]

Everybody needs to cut through the spin and propaganda and see things the way they are. Terms such as “stimulus”, “relief”, “QE” and “help”are all either deflation stopping plans or wealth transfers. Yes, often times, irresponsible borrows are in the line of fire of these two things.

The whole banking system is bankrupt. Which is why they have fraudulent accounting rules and currently indefinite short selling bans in Europe. And Buffet just stepped in to save BofA.

RE values are connected to the health of ALL the big banks. They drew a line in the sand and are doing everything they can to uphold that line. The further it drops the more bankrupt the banks are.

Not that I think these things will work – but acceptance that the whole system is dead will be instant-depression and market panics. So we have to lie to ourselves to maintain social functionality.

So as for all the moral hazards, poor incentives, etc.. They are not looking at it ideologically or with any type of principles whatsoever – they are looking at is systemically. Where “systemically” to throw money to keep it propped up. That’s it.

Which would be lowering payments, principle forgiveness and any host of other areas to shield the banks from risk, keep people paying in their overpriced homes and maintain that line in the sand.

We will continue to focus all energies on propping up asset prices and stimulating aggregate demand for the consumer economy, until we can’t anymore. How long that is is anybodies guess – it goes far beyond the current administration into geo-politics and really the structure of the whole global economy.

[Author]

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