[LesBaer45]

[quote=briansd1]

(long quotes whacked by T. Soprano)

LesBaer45, no way it can work for the general population.

We are programmed to consume. BTW, that’s what capitalism and credit are all about — bringing consumption and development forward. Otherwise, we’d just save and wait until we have the money saved up to consume.

Imagine how the car industry would hit depression if consumers actually started saving to pay cash for their cars. It’s doable and recommended for the individual, but it would be a disaster for the economy.

http://www.youtube.com/watch?v=IyPzGUsYyKM%5B/quote%5D

I’ve always paid cash for the cars with two exceptions. Those were half paid for day one, and put on a ridiculous low rate for 18 months. The first one to “build” credit score early in life, the second one is the current ride to “maintain” credit score after paying off house a couple of years ago.

Clearly I am the biggest hater of America here. 🙂

[LesBaer45]

[quote=walterwhite]i think it would make more sense just to refi all the stupid 19% credit card debt down to 2%[/quote]

Out of the clear blue sky with no urging from me Capital One just dropped my rate by 1.25%.

I’d have to go look to see what it was but I thought it was interesting anyway. It’s one of those zero benefit to me things, since I always pay it off at the end of the month anyhow.

In this thread I’ve seen no discussion around the possibility that all these “re-financiers” get dropped to a 4% loan, and then instead of spending the money on mass consumption (stimulating) they instead keep paying the same payment and pay down/off their mortgage ASAP?

Yes, yes, I get the ‘can’t change human nature to spend see sdr new car’ bit, but maybe being that close to the edge for so long changed a majority of them into wanting out of the whole debt trap thing and actually owning the house. If they are so far underwater and simply want out, then they should have strategic defaulted a long time ago.

Assuming this is worked out and placed into production, I’m thinking it might not have the effect they are looking for.

[LesBaer45]

[quote=walterwhite]i think it would make more sense just to refi all the stupid 19% credit card debt down to 2%[/quote]

Out of the clear blue sky with no urging from me Capital One just dropped my rate by 1.25%.

I’d have to go look to see what it was but I thought it was interesting anyway. It’s one of those zero benefit to me things, since I always pay it off at the end of the month anyhow.

In this thread I’ve seen no discussion around the possibility that all these “re-financiers” get dropped to a 4% loan, and then instead of spending the money on mass consumption (stimulating) they instead keep paying the same payment and pay down/off their mortgage ASAP?

Yes, yes, I get the ‘can’t change human nature to spend see sdr new car’ bit, but maybe being that close to the edge for so long changed a majority of them into wanting out of the whole debt trap thing and actually owning the house. If they are so far underwater and simply want out, then they should have strategic defaulted a long time ago.

Assuming this is worked out and placed into production, I’m thinking it might not have the effect they are looking for.

[LesBaer45]

[quote=walterwhite]i think it would make more sense just to refi all the stupid 19% credit card debt down to 2%[/quote]

Out of the clear blue sky with no urging from me Capital One just dropped my rate by 1.25%.

I’d have to go look to see what it was but I thought it was interesting anyway. It’s one of those zero benefit to me things, since I always pay it off at the end of the month anyhow.

In this thread I’ve seen no discussion around the possibility that all these “re-financiers” get dropped to a 4% loan, and then instead of spending the money on mass consumption (stimulating) they instead keep paying the same payment and pay down/off their mortgage ASAP?

Yes, yes, I get the ‘can’t change human nature to spend see sdr new car’ bit, but maybe being that close to the edge for so long changed a majority of them into wanting out of the whole debt trap thing and actually owning the house. If they are so far underwater and simply want out, then they should have strategic defaulted a long time ago.

Assuming this is worked out and placed into production, I’m thinking it might not have the effect they are looking for.

[LesBaer45]

[quote=walterwhite]i think it would make more sense just to refi all the stupid 19% credit card debt down to 2%[/quote]

Out of the clear blue sky with no urging from me Capital One just dropped my rate by 1.25%.

I’d have to go look to see what it was but I thought it was interesting anyway. It’s one of those zero benefit to me things, since I always pay it off at the end of the month anyhow.

In this thread I’ve seen no discussion around the possibility that all these “re-financiers” get dropped to a 4% loan, and then instead of spending the money on mass consumption (stimulating) they instead keep paying the same payment and pay down/off their mortgage ASAP?

Yes, yes, I get the ‘can’t change human nature to spend see sdr new car’ bit, but maybe being that close to the edge for so long changed a majority of them into wanting out of the whole debt trap thing and actually owning the house. If they are so far underwater and simply want out, then they should have strategic defaulted a long time ago.

Assuming this is worked out and placed into production, I’m thinking it might not have the effect they are looking for.

[LesBaer45]

[quote=walterwhite]i think it would make more sense just to refi all the stupid 19% credit card debt down to 2%[/quote]

Out of the clear blue sky with no urging from me Capital One just dropped my rate by 1.25%.

I’d have to go look to see what it was but I thought it was interesting anyway. It’s one of those zero benefit to me things, since I always pay it off at the end of the month anyhow.

In this thread I’ve seen no discussion around the possibility that all these “re-financiers” get dropped to a 4% loan, and then instead of spending the money on mass consumption (stimulating) they instead keep paying the same payment and pay down/off their mortgage ASAP?

Yes, yes, I get the ‘can’t change human nature to spend see sdr new car’ bit, but maybe being that close to the edge for so long changed a majority of them into wanting out of the whole debt trap thing and actually owning the house. If they are so far underwater and simply want out, then they should have strategic defaulted a long time ago.

Assuming this is worked out and placed into production, I’m thinking it might not have the effect they are looking for.

[LesBaer45]

McDonnell: Virginia surplus nearly $545M
Associated Press
Published: August 18, 2011

RICHMOND, Va. — Gov. Bob McDonnell says Virginia ended the last fiscal year with a surplus of nearly $545 million.

McDonnell disclosed the new figure Thursday in a speech to the General Assembly’s money committees. Last month, the governor said Virginia ended the year with a $311 million surplus. The new figure reflects state agency savings and agency balances that were not reflected in the previous amount.

McDonnell announced that he will allocate $30 million of the surplus to a new reserve fund he’s asking the legislature to create to help the state deal with future federal spending cuts. The economies of northern Virginia and Hampton Roads are particularly dependent on federal spending.

The biggest chunk of the surplus, $133 million, will be deposited into the state’s rainy day fund.

[LesBaer45]

McDonnell: Virginia surplus nearly $545M
Associated Press
Published: August 18, 2011

RICHMOND, Va. — Gov. Bob McDonnell says Virginia ended the last fiscal year with a surplus of nearly $545 million.

McDonnell disclosed the new figure Thursday in a speech to the General Assembly’s money committees. Last month, the governor said Virginia ended the year with a $311 million surplus. The new figure reflects state agency savings and agency balances that were not reflected in the previous amount.

McDonnell announced that he will allocate $30 million of the surplus to a new reserve fund he’s asking the legislature to create to help the state deal with future federal spending cuts. The economies of northern Virginia and Hampton Roads are particularly dependent on federal spending.

The biggest chunk of the surplus, $133 million, will be deposited into the state’s rainy day fund.

[LesBaer45]

McDonnell: Virginia surplus nearly $545M
Associated Press
Published: August 18, 2011

RICHMOND, Va. — Gov. Bob McDonnell says Virginia ended the last fiscal year with a surplus of nearly $545 million.

McDonnell disclosed the new figure Thursday in a speech to the General Assembly’s money committees. Last month, the governor said Virginia ended the year with a $311 million surplus. The new figure reflects state agency savings and agency balances that were not reflected in the previous amount.

McDonnell announced that he will allocate $30 million of the surplus to a new reserve fund he’s asking the legislature to create to help the state deal with future federal spending cuts. The economies of northern Virginia and Hampton Roads are particularly dependent on federal spending.

The biggest chunk of the surplus, $133 million, will be deposited into the state’s rainy day fund.

[LesBaer45]

McDonnell: Virginia surplus nearly $545M
Associated Press
Published: August 18, 2011

RICHMOND, Va. — Gov. Bob McDonnell says Virginia ended the last fiscal year with a surplus of nearly $545 million.

McDonnell disclosed the new figure Thursday in a speech to the General Assembly’s money committees. Last month, the governor said Virginia ended the year with a $311 million surplus. The new figure reflects state agency savings and agency balances that were not reflected in the previous amount.

McDonnell announced that he will allocate $30 million of the surplus to a new reserve fund he’s asking the legislature to create to help the state deal with future federal spending cuts. The economies of northern Virginia and Hampton Roads are particularly dependent on federal spending.

The biggest chunk of the surplus, $133 million, will be deposited into the state’s rainy day fund.

[LesBaer45]

McDonnell: Virginia surplus nearly $545M
Associated Press
Published: August 18, 2011

RICHMOND, Va. — Gov. Bob McDonnell says Virginia ended the last fiscal year with a surplus of nearly $545 million.

McDonnell disclosed the new figure Thursday in a speech to the General Assembly’s money committees. Last month, the governor said Virginia ended the year with a $311 million surplus. The new figure reflects state agency savings and agency balances that were not reflected in the previous amount.

McDonnell announced that he will allocate $30 million of the surplus to a new reserve fund he’s asking the legislature to create to help the state deal with future federal spending cuts. The economies of northern Virginia and Hampton Roads are particularly dependent on federal spending.

The biggest chunk of the surplus, $133 million, will be deposited into the state’s rainy day fund.

[LesBaer45]

[quote=briansd1][quote=bearishgurl]
In general, folks from America’s midsection and the south are not amused that many homebuyers in coastal CA have stretched themselves to the brink.[/quote]

Do they read the NY Times? (just joking)

(I haven’t read the comments myself to see the commenters’ locations).[/quote]

We are from the south, and we are not amused.*

* By either the coastal CA buyers or the NYT.

[LesBaer45]

[quote=briansd1][quote=bearishgurl]
In general, folks from America’s midsection and the south are not amused that many homebuyers in coastal CA have stretched themselves to the brink.[/quote]

Do they read the NY Times? (just joking)

(I haven’t read the comments myself to see the commenters’ locations).[/quote]

We are from the south, and we are not amused.*

* By either the coastal CA buyers or the NYT.

[LesBaer45]

[quote=briansd1][quote=bearishgurl]
In general, folks from America’s midsection and the south are not amused that many homebuyers in coastal CA have stretched themselves to the brink.[/quote]

Do they read the NY Times? (just joking)

(I haven’t read the comments myself to see the commenters’ locations).[/quote]

We are from the south, and we are not amused.*

* By either the coastal CA buyers or the NYT.

[LesBaer45]

[quote=briansd1][quote=bearishgurl]
In general, folks from America’s midsection and the south are not amused that many homebuyers in coastal CA have stretched themselves to the brink.[/quote]

Do they read the NY Times? (just joking)

(I haven’t read the comments myself to see the commenters’ locations).[/quote]

We are from the south, and we are not amused.*

* By either the coastal CA buyers or the NYT.

[Author]

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