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Location: On another site. This one is lame :) Trying to give it a second chance though.
105 posts, read 71,159 times
Reputation: 44
Quote:
Originally Posted by saganista
Its almost as bad as Sally Strothers giving all that free food and medical care to starving children in Africa. When was the last time she came over to your house? Wow, double-huge slap in the face...
lmao. Sorry, that analogy doesn't fly very well either. Starving children in Africa have nothing to do with greedy idiots in America. These people played a market, and LOST. As Greg said above, he re-fi'd some time ago when it was time to get out. These folks didn't. Instead they chose to "play the market".
Are we going to start giving people their money back when they lose money on penny stocks too?
Y'know what, how about a government refund program for slot machines?
Mortgage payment insurance for high-stakes poker players?
Welcome to Socialist America folks.....and you all thought it would be Hillary.
Actually, the slap in the face will be watching the people who will benefit from this buy 62" flat screen TV's and a new car now that they've been saved.
Actually, the slap in the face will be watching the people who will benefit from this buy 62" flat screen TV's and a new car now that they've been saved.
I actually quite agree with you. After the initial period of relief, I think that some of these folks will "celebrate" their newfound security, and I expect resentment to be a major story in another year or so (perhaps sooner).
America has always had socialism for the investors and a market for the rest of us.
Don’t worry the borrowers bailed out by this "relief" will be back behind their payments in a couple of years but they will have 'helped" the Chinese economy by buying that big TV. They will only be doing their part in keeping our consumer economy afloat. For a while anyway.
Sag - good points. However the world economy does not always do things in the interest of the investors, let alone the rest of us, all the time.
That's true, and there is always the possibility of unexpected shocks from outside the system. That's why you can't predict the future, only project the outcomes that are most likely based on currently available information.
Quote:
Originally Posted by GregW
PS I refinanced to a fixed rate mortgage several years ago and I am very glad These interest rates do not surprise me at all.
I've done three and would have done a fourth, had I not been out of town during the ten days or so when it would have made sense to lock something in. I was obviously happy with all of them. They are the equivalent of free money. I don't expect that the chance will come along again. Interest rates meanwhile haven't taken any surprising moves. In part arising from antipathy bred by Bush's in-your-face unilateralism, declining demand for US goods had put us very nearly into a Japanese-style liquidity trap, and the Fed had little choice but to cut rates rather severely in trying to prompt a recovery. Once things got back on the upswing economically, the need to raise rates was obvious and the effects of that were widely forecast. Everyone knew that a lot of water had slopped in through the open gates...the hope was that it could somehow be pumped out again in an orderly fashion. Hope was never backed up by any particular plans, however. It could be argued, particularly with hindsight, that the Fed should have tried to keep to a gentler pace, but there would have been no assurances in taking that course either. As always, of course, the larger question is where do we go from here, there being pressures and desires to go both ways at once. Not being a neocon devotee of dogma, I would say that a significant package of what Reagan called revenue enhancements and loophole closings (but what most would call tax increases) would answer enough other questions to afford us a modest interval of reduced interest rates. But simply trying to muddle through to a new administration may be about all we're up to at the moment, and even that may not be so easy...
That's true, and there is always the possibility of unexpected shocks from outside the system. That's why you can't predict the future, only project the outcomes that are most likely based on currently available information.
I've done three and would have done a fourth, had I not been out of town during the ten days or so when it would have made sense to lock something in. I was obviously happy with all of them. They are the equivalent of free money. I don't expect that the chance will come along again. Interest rates meanwhile haven't taken any surprising moves. In part arising from antipathy bred by Bush's in-your-face unilateralism, declining demand for US goods had put us very nearly into a Japanese-style liquidity trap, and the Fed had little choice but to cut rates rather severely in trying to prompt a recovery. Once things got back on the upswing economically, the need to raise rates was obvious and the effects of that were widely forecast. Everyone knew that a lot of water had slopped in through the open gates...the hope was that it could somehow be pumped out again in an orderly fashion. Hope was never backed up by any particular plans, however. It could be argued, particularly with hindsight, that the Fed should have tried to keep to a gentler pace, but there would have been no assurances in taking that course either. As always, of course, the larger question is where do we go from here, there being pressures and desires to go both ways at once. Not being a neocon devotee of dogma, I would say that a significant package of what Reagan called revenue enhancements and loophole closings (but what most would call tax increases) would answer enough other questions to afford us a modest interval of reduced interest rates. But simply trying to muddle through to a new administration may be about all we're up to at the moment, and even that may not be so easy...
Funny thing is, though, rates aren't that high right now. The 30-year fixed is between 5 and 6, nationally.
America has always had socialism for the investors and a market for the rest of us.
Don’t worry the borrowers bailed out by this "relief" will be back behind their payments in a couple of years but they will have 'helped" the Chinese economy by buying that big TV. They will only be doing their part in keeping our consumer economy afloat. For a while anyway.
What bail out?? People can't be behind on payments to qualify for this interest-freeze. Read the bill more carefully.
Those who are trying to say it is are being dishonest IMO
If it allows folks to keep a sub market interest rate for their most significant financial asset, at the expense of those holding the notes, how should it be labeled?
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