Mavericky is as Mavericky does.

[Money$hit]

FUCK CLINTON for our housing/economic swell that is collapsing beneath us.

That and Alan Greenspan for making credit so cheap. Everyone wants to blame it on the Republicans and the "excess" on Wall Street.

[Pinepig]

the problem with america today is that it IS seen as "unpatriotic" to question your government, when in fact, questioning your government IS AMERICAN.

FUCK the PATRIOT ACT.

FUCK CLINTON for our housing/economic swell that is collapsing beneath us and draggin the rest of the WORLD's ECONOMIES WITH US.

FUCK BUSH for PUTTING us in IRAQ AND STRESSING EVEN CAPITALISM's PRODUCTIVE POWERS.

FUCK CHURCHES for their SPLIT-TONGUED sickly MOLESTATION of their fundamental purpose by becoming POLITICALLY INTERTWINED during THIS 2008 ELECTION AS WELL AS THEY DID IN 2004.

FUCK the "RELIGIOUS" FOR LETTING IT HAPPEN.

FUCK ILLEGAL IMIGRANTS FOR TAKING ADVANTAGE OF OUR BROKEN SYSTEM and taking wealth OUTSIDE of our country.

FUCK the POOR for RELYING on HANDOUTS instead of pulling THEMSELVES UP AND OUT.

FUCK THE DEMOCRATS for BLOCKING NATURAL SELECTION.

FUCK the RICH for NOT GIVING A DAMN ABOUT ANYONE OTHER THAN THEMSELVES.

FUCK THE REPUBLICANS for NOT PROMOTING NATURAL SELECTION.

FUCK YOU if you find my vugarities inappropriate or my perspectives out of place. MAYBE A SINGLE PARTY CONTROLLED US GOVERNMENT WILL FIND A WAY TO LIMIT MY CONSTITUTIONAL RIGHTS.

You forgot FUCK OBAMA ( the chocolate jesus )

[h0lmes]

Haha so the housing/economic crisis is Clinton's fault now?

You people do realize that this started in the 80's with Reagan and deregulation right? I am by no means blaming it on Reagan but if there were stricter rules in place, there wouldn't have been any predatory lending.

[Pinepig]

Haha so the housing/economic crisis is Clinton's fault now?

You people do realize that this started in the 80's with Reagan and deregulation right? I am by no means blaming it on Reagan but if there were stricter rules in place, there wouldn't have been any predatory lending.

There were stricter rules, they went away during the Clinton years.

[Money$hit]

Haha so the housing/economic crisis is Clinton's fault now?

You people do realize that this started in the 80's with Reagan and deregulation right? I am by no means blaming it on Reagan but if there were stricter rules in place, there wouldn't have been any predatory lending.

There was a big initiative during the 90's for everyone to become a homeowner. Legislation, grants, low target interest rates, etc... A sure recipe for disaster.

Look where it has put us now. There are surpluses of homes as far as you can see because home builders built with no regard. Demand is low and slowing even more. From an economic standpoint, supply curve shifts left, demand curve shifts right, and now you have totally fucked market. When determining GPD from an expenditures approach, consumption makes up 70% of GDP, and housing makes up about 35-45% of consumption. You start messing with those figures, and you're fucking right were in a recession.

It took a Democrat to say "everyone needs a house" to get us in this mess, and its going to take a Republican to say "if you're poor, no you don't" to get us out.

[Old'n'Slow]

....its going to take a Republican to say "if you're poor, no you don't" to get us out.

You don't mean this one, do you?

During Tuesday's presidential debate, McCain, the Republican nominee, said he would order the Treasury secretary "to immediately buy up the bad home loan mortgages in America and renegotiate (them) at the new value of those homes, at the diminished value of those homes."

Conservatives said WTF? Who establishes the value?

McCain "took that position on the housing issue of buying up everybody's mortgage," said former Arkansas Gov. Mike Huckabee on Fox News. "Conservatives are scratching their heads today and saying, 'What happened?' "

The liberals like it, but even they know it's just hot air:

At the Center for American Progress Action Fund, an offshoot of a liberal Washington think tank, there was more support for McCain's approach.

"It's refreshing to hear that kind of insight and understanding of the root of the problem," said Sarah Rosen Wartell, executive vice president and managing director for economic policy. "There were a number of key observations he made that were dead right."

However, she added, the plan's details made it both expensive and unworkable.

Oh well, John,.....it sounded nice and might garner you a few votes from people who think you could actually pull it off......

[Money$hit]

Your link is a red x.

Unfortunately, the housing market/model is so far destroyed, this is what it has resorted to. McCain is taking a Keynesian approach vs. a free market approach at fixing the crisis. Really the only difference in the correction is the time factor. This crisis is so deep and far spread that it is really imperative to fix the root cause, which is housing. So if we need to buy up mortgages, so be it.

But at least when it's all said and done, he will have the sense to say, "never again".

[Old'n'Slow]

Your link is a red x.

Fixed. Sorry about that. I thought I had checked it.

Unfortunately, the housing market/model is so far destroyed, this is what it has resorted to. McCain is taking a Keynesian approach vs. a free market approach at fixing the crisis. Really the only difference in the correction is the time factor. This crisis is so deep and far spread that it is really imperative to fix the root cause, which is housing. So if we need to buy up mortgages, so be it.

I see where you are headed with that, but I am concerned with the deep negative ramifications of being arbitrary about valuations. It also concerns me that McCain's plan requires people to have put down a down payment when securing their mortgage. That will exclude many of those affected by the sub-prime meltdown. Since the Bush administration was pushing for 5.5 Million new home owners (mostly minority) by promoting HUD Zero Down loans, by the end of his term, there could be large numbers of people with no relief in sight.

But at least when it's all said and done, he will have the sense to say, "never again".

You have no idea how much I hope you are right.

[Money$hit]

I see where you are headed with that, but I am concerned with the deep negative ramifications of being arbitrary about valuations. It also concerns me that McCain's plan requires people to have put down a down payment when securing their mortgage. That will exclude many of those affected by the sub-prime meltdown. Since the Bush administration was pushing for 5.5 Million new home owners (mostly minority) by promoting HUD Zero Down loans, by the end of his term, there could be large numbers of people with no relief in sight.

I think you were key in saying "arbitrary valuations", because this is another huge factor. With all this capital infusion, mortgage buy ups, etc, we will never truly know what the bottom is. There are so many artificial supporting variables in the model now that its going to be hard to tell where we were.

I agree with you. When this all came to a head and market capitulation started occurring, I said fuck it, let it all collapse. Don't rush to rescue banks, dont give capital infusion, don't rescue mortgages... nothing. From an outside view I may have appeared as a heartless rightwing asshole. But for as long as this has lasted, and as long as Americans have paid the price, we deserve to see the natural market bottom with no artificial injections. Let the market bottom so that we can begin new, value our assets appropriately, and live another day to see continued, steady economic growth.