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PerryChase
Participantjg, Africa is a mess it is because of Colonialism. The Europeans used religion to justify the oppression and the result is the mess we have today.
The typical administration of a colony was this:
1) use religion to invade;
2) grant concessions to your buddies the industrialists;
3) exploit the natural riches and the people for labor;
4) export the goods back home for processing;
5) sell the finished product in the home market as well as the colonies.It’s still going on today in different forms. I’ve spend some time in different countries and I know this to be true. Despite the corruption, Africans are much better-off today that under servitude during colonial times.
jg, your delusions are very much out of this world.
ParticipantLostkitty is not posting any hate. She and davelj are voices of reason. Their posts are only in response to the sanctimonious posts by a Christian rightist.
I too believe that that it’s important to stand up to such bullying.
I grew up Catholic and one reason I no longer practice Christianity is because many organized Christians do nothing but condemn others.
This real estate scam is not surprising. You have the prophet guiding the core clients to real estate heaven. Pretty soon they have a flock of thousands in their empire. At least that was the hope. If they have core clients, I’m sure they have plenty of non-core clients who didn’t “see the light” and got in on the ground floor. A classic pyramid scheme.
ParticipantLostkitty is not posting any hate. She and davelj are voices of reason. Their posts are only in response to the sanctimonious posts by a Christian rightist.
I too believe that that it’s important to stand up to such bullying.
I grew up Catholic and one reason I no longer practice Christianity is because many organized Christians do nothing but condemn others.
This real estate scam is not surprising. You have the prophet guiding the core clients to real estate heaven. Pretty soon they have a flock of thousands in their empire. At least that was the hope. If they have core clients, I’m sure they have plenty of non-core clients who didn’t “see the light” and got in on the ground floor. A classic pyramid scheme.
ParticipantI’m with lookoutbelow. Can’t be true. Otherwise, the Reds in Mississippi and such states would not vote religious tickets. Raleigh/Durham in NC has a high concentration of college graduates and they vote Blue. The rest of the state, with a lower concentration of college grads, is Red.
True story. My good friend is a PhD student at a very expensive private university in NYC. His father is a pastor in a modest community. My friend tells me that their lives were lies. Their family is very repressed and miserable but they have to put up a facade of perfection. He felt miserable at home but could never talk to his parents. He now hates religion and wants nothing to do with it. Well, I told him to be grateful because without religion, he wouldn’t be getting his education. Studying and living in Manhattan costs $100k++/year. Multiply that by 7 to 10 years. It’s all paid for by his father’s ministry “business.”
I think that the customers of religion are like home-buyers. The difference is that they always buy high.
ParticipantI’m with lookoutbelow. Can’t be true. Otherwise, the Reds in Mississippi and such states would not vote religious tickets. Raleigh/Durham in NC has a high concentration of college graduates and they vote Blue. The rest of the state, with a lower concentration of college grads, is Red.
True story. My good friend is a PhD student at a very expensive private university in NYC. His father is a pastor in a modest community. My friend tells me that their lives were lies. Their family is very repressed and miserable but they have to put up a facade of perfection. He felt miserable at home but could never talk to his parents. He now hates religion and wants nothing to do with it. Well, I told him to be grateful because without religion, he wouldn’t be getting his education. Studying and living in Manhattan costs $100k++/year. Multiply that by 7 to 10 years. It’s all paid for by his father’s ministry “business.”
I think that the customers of religion are like home-buyers. The difference is that they always buy high.
June 19, 2007 at 2:51 PM in reply to: Iraq is like the housing market – but not like you think #60520ParticipantSlate.com article. I’m glad the MSM is beginning to see the light.
moneybox: Commentary about business and finance.
http://www.slate.com/id/2168417/nav/tap3/
The Twin DebaclesHow the housing collapse is like the Iraq war.
By Daniel Gross
Posted Friday, June 15, 2007, at 5:48 PM ETWhat do Iraq and the U.S. housing market have in common? At first blush, not much. Iraq, which has taken the lives of thousands and ruined America’s reputation abroad, is far more disastrous than the housing collapse, which has been merely financially devastating.
Nonetheless, the twin debacles, which are defining the foreign policy and domestic economy of the second Bush term, have significant similarities, especially in the way that their public- and private-sector architects and promoters have behaved.
June 19, 2007 at 2:51 PM in reply to: Iraq is like the housing market – but not like you think #60554ParticipantSlate.com article. I’m glad the MSM is beginning to see the light.
moneybox: Commentary about business and finance.
http://www.slate.com/id/2168417/nav/tap3/
The Twin DebaclesHow the housing collapse is like the Iraq war.
By Daniel Gross
Posted Friday, June 15, 2007, at 5:48 PM ETWhat do Iraq and the U.S. housing market have in common? At first blush, not much. Iraq, which has taken the lives of thousands and ruined America’s reputation abroad, is far more disastrous than the housing collapse, which has been merely financially devastating.
Nonetheless, the twin debacles, which are defining the foreign policy and domestic economy of the second Bush term, have significant similarities, especially in the way that their public- and private-sector architects and promoters have behaved.
Participanthpi, you’ve not been looking at the MLS if you say that “most of resale homes are for big profit at little holding cost, they can be sitting on the MLS for years, but they don’t care, which can’t be treated as true inventory as new home sale or foreclosure sales.”
I see plenty of houses where the holding costs are adding up month after month. An empty house is a house that’s bleeding money. They can’t sell because they can’t bring themselves to take the loss or they can’t afford to bring money to escrow.
A stagnant market will eventually cause a declining market because homeowners can’t get out. The transaction costs will wipe out any equity they have.
Participanthpi, you’ve not been looking at the MLS if you say that “most of resale homes are for big profit at little holding cost, they can be sitting on the MLS for years, but they don’t care, which can’t be treated as true inventory as new home sale or foreclosure sales.”
I see plenty of houses where the holding costs are adding up month after month. An empty house is a house that’s bleeding money. They can’t sell because they can’t bring themselves to take the loss or they can’t afford to bring money to escrow.
A stagnant market will eventually cause a declining market because homeowners can’t get out. The transaction costs will wipe out any equity they have.
ParticipantI’m not into gossip about the lives of stars and politicians. But after a quick search, I now realize that this is old news. Actually, it seems Condi made that comment, in English, not French, at a DC press dinner.
The major European newspapers reported it but it only made it to the blogosphere in America.
If Bush is having a hot affair, then all the more power to him. I like him more now than I did before.
I think that it’s funny how the Republicans have that image of righteous, religious morality but they sin the same as everyone else.
I feel sorry for the suckers in Red America who believe they are voting for righteous leaders.
ParticipantI’m not into gossip about the lives of stars and politicians. But after a quick search, I now realize that this is old news. Actually, it seems Condi made that comment, in English, not French, at a DC press dinner.
The major European newspapers reported it but it only made it to the blogosphere in America.
If Bush is having a hot affair, then all the more power to him. I like him more now than I did before.
I think that it’s funny how the Republicans have that image of righteous, religious morality but they sin the same as everyone else.
I feel sorry for the suckers in Red America who believe they are voting for righteous leaders.
ParticipantMontecastro, Hendrix, et al, has all of their house foreclosed also. The funds they received are probably gone, or stashed away somewhere never to be recovered.
The duped investors will be lucky to get a penny on the dollar. They can hope for criminal convictions, they aren’t going to be made financially whole. That’s, in my view, the lesson they’ll take from this experience. If they are religious people as they claim, the sooner the come to terms with that reality, the better for their souls.
ParticipantMontecastro, Hendrix, et al, has all of their house foreclosed also. The funds they received are probably gone, or stashed away somewhere never to be recovered.
The duped investors will be lucky to get a penny on the dollar. They can hope for criminal convictions, they aren’t going to be made financially whole. That’s, in my view, the lesson they’ll take from this experience. If they are religious people as they claim, the sooner the come to terms with that reality, the better for their souls.
Participantdrunkle, milk the ones who can pay and are least likely to resist. Why not? That’s just business as usual.
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patient, if we’re talking about lenders providing relief to the borrowers in trouble, then those with 30 years fully amortized loans, can be refied with interest-only or Option ARMs. They could go with 10-year interest-only with 20 years fully amortized. That will give them a 10 year reprieve to get their finances in order. They can also refinance again in 10 years.
Those with exotics are up the creek, I’m afraid. Banks might allow those borrowers to skip a couple of payments and have them added to the principal. But if a borrower can’t afford the exotic payments today, will they be able to afford them a couple months from now? The lenders will just kick the can further down the road, which they might well do in order to keep-up the paper profits so execs can collect bonuses; and to try to avoid paying the hedge funds on bad loans for now.
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Good point capeman. It’s possible that a 50 years mortgage could stretch things a little more.
But I think that the housing gamblers already went with Option ARMs in order to leverage to the max.
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