US mortgage crisis costs global economy 945 bln dlrs: IMF

[arbitrageur]

liebestadt_1_1 wrote:

otism.
Please, therefore, go to where true Americans can come together with irrefutable and well researched facts: www.myspace.com/frederick_alexander_jones .

If MySpace is the center of your universe, we are not going to be able to help you.

[Jim C]

Mr Logic in Jax wrote:

<quoted text>
Jim C,
I am sympatric to your situation; it is a shame that there are those who prey on the ignorant. That is not meant as an insult so please don’t take it that way, but you did state that you assumed the lender had your best interest in mind. I glad we live in a FREE country but that also comes with a high level of responsibility also. I do find it amazing that so many home buyers spend more time on which pair of shoes to buy or which color cabinets should we choose. My prays are with you and your family going forward, and you surely will be a intelligent home buyer in the future.

We have learned from this experience and also I have seen firsthand some conditions that promote ill behavior of lenders by exclusion from consequence regarding exceptions to protect their interests. Once you can actually see up close you come to realize that something needs to be done in order to prevent economic disaster on a large scale and many displacements from homes.
I believe personally we made it pretty much out of the fire. I would not however close the door on so many others who are trying to get back on track.
Thanks for the wishes and it is true, once experiencing the consequences it will either be a shell shock reaction from pursuing another home or going in better prepared with less surety and scrutinizing all factors very thoroughly.
You are right, housing pursuits should scrutinized more thorough than a purchase of common apparel. I was foolish to get in such a deal. I guess admitting it is part of the recovery plan.

[Cato]

liebestadt_1_1 wrote:

AMERICA' LOVE FOR THE CRIMINAL WILL BE THE CAUSE OF A CERTAIN GREAT DEPRESSION TOGETHER WITH A VERY GREAT INTERNATIONAL WEALTH.
No one has dared to blame the growing crisis on the irrefutable crimes that caused it, nor the countless government criminals who are plainly the perpetrators. While alleging deregulation, state legislators allowed teams of lawyers to write legislation that would make a few extremely wealthy and destroy countless millions of Americans.
Moreover, the war profiteers are back. Indeed, while they control the state and federal governments, international cooperate media,and a dominating self-serving proganda, they become phenominally wealthy and their clever politicians cause the fatal costs of the wars in the East to be hidden in words or religion and patriotism.
Please, therefore, go to where true Americans can come together with irrefutable and well researched facts: www.myspace.com/frederick_alexander_jones .

Only a few phony Americans love criminals.

[Char]

Jones wrote:

<quoted text>Good point. The mortgage crisis is a result of the left wing liberal Dem socialists like Bill Clinton aiming to help the poor and the illegal invaders and ‘redistribute’ money from the rich US corporations to the poor which is exactly what Hillary plans to do if she will takes power back.
Hillary already said that she will ‘take’ the profits of the rich US corporations and spend it on the poor.
Socialism and Marxists like Hillary and Bill can take a great and successful capitalistic country like US and convert it to a third world poor country within very short time.
The shrill vicious woman already promised to the illegal invaders and the poor that she will do just that...by forcing the banks to give them loans that they need not pay back … you better believe it.

I think Obama is even more liberal than Hillary. So the situation will just get worst if he is elected.

[Jim C]

just had lunch wrote:

<quoted text>
yep ... the clintons made over 100 million dollars in the last 7 years, so did al gore ...
and none of them worked!

As with the saying, nobody ever became rich from working.

[Jim C]

just had lunch wrote:

<quoted text>
duh, you probably should've read the contract...

I have read the contract. I know what the loan terms are. As is obvious by all the different plans that are set out to drop loans to forgive principal that is over 100% LTV down so that the massive amount of these uninsured loans can be refinanced into insured loans with equity and with some guarantee to share in the possible profits if values ever started to rise again.

[stpetejeff]

Recession, what recession???? The King

[Justice League]

United States in is big problem US is now on record for highest debt science it’s creation. Currently US Debt is 9,452,473,238,846 (and rising)$ 2,147,633 per every 100 seconds In the long term, if US are to avoid World War III, the most likely outcome will be a merger or an acquisition – depending on the level of euphemism you want to apply.
As an example, the USA's biggest creditors could land up owning large swathes of the US Government's assets. But what would happen if the US Government had insufficient assets to swap? Would the overseas creditors insist on taking ownership of private enterprise companies?
From the perspective of a US Government which is unable to meet its obligations as and when they fall due, how can any forays into Afghanistan and Iraq and the like be justified? Well, if you never had any intention of repaying your debts in the first place, why wouldn't you just borrow the money to finance those wars? Oh? you've been fighting those wars in the name of democracy? Really? From where I'm standing, those wars are serving to hasten the demise of democracy.
In a globalised economic world, the short answer is “no”. A sovereign country which does not honour its debts is pronouncing a death sentence on the business entities which operate within it. It might be a slow, lingering death, but the end result will be death. Something structural will need to change.
The three options are:
1. Pay your debt obligations, or
2. Become a third world nation, or
3. Expect that your country may be taken over by a stronger country

[Cato]

Justice League wrote:

United States in is big problem US is now on record for highest debt science it’s creation. Currently US Debt is 9,452,473,238,846 (and rising)$ 2,147,633 per every 100 seconds In the long term, if US are to avoid World War III, the most likely outcome will be a merger or an acquisition – depending on the level of euphemism you want to apply.
As an example, the USA's biggest creditors could land up owning large swathes of the US Government's assets. But what would happen if the US Government had insufficient assets to swap? Would the overseas creditors insist on taking ownership of private enterprise companies?
From the perspective of a US Government which is unable to meet its obligations as and when they fall due, how can any forays into Afghanistan and Iraq and the like be justified? Well, if you never had any intention of repaying your debts in the first place, why wouldn't you just borrow the money to finance those wars? Oh? you've been fighting those wars in the name of democracy? Really? From where I'm standing, those wars are serving to hasten the demise of democracy.
In a globalised economic world, the short answer is “no”. A sovereign country which does not honour its debts is pronouncing a death sentence on the business entities which operate within it. It might be a slow, lingering death, but the end result will be death. Something structural will need to change.
The three options are:
1. Pay your debt obligations, or
2. Become a third world nation, or
3. Expect that your country may be taken over by a stronger country

National debt is a problem, but it's hardly characteristic of the United States.

Top Five Cricket Nations by External Debt
1. United States $10.0 trillion
2. United Kingdom,$8.3 trillion
3. Germany,$3.9 trillion
4. France,$3.5 trillion
5. Italy,$2.0 trillion

Of course there is also debt as a percentage of Gross Domestic Product ...

[Char]

Justice League wrote:

United States in is big problem US is now on record for highest debt science it’s creation. Currently US Debt is 9,452,473,238,846 (and rising)$ 2,147,633 per every 100 seconds In the long term, if US are to avoid World War III, the most likely outcome will be a merger or an acquisition – depending on the level of euphemism you want to apply.
As an example, the USA's biggest creditors could land up owning large swathes of the US Government's assets. But what would happen if the US Government had insufficient assets to swap? Would the overseas creditors insist on taking ownership of private enterprise companies?
From the perspective of a US Government which is unable to meet its obligations as and when they fall due, how can any forays into Afghanistan and Iraq and the like be justified? Well, if you never had any intention of repaying your debts in the first place, why wouldn't you just borrow the money to finance those wars? Oh? you've been fighting those wars in the name of democracy? Really? From where I'm standing, those wars are serving to hasten the demise of democracy.
In a globalised economic world, the short answer is “no”. A sovereign country which does not honour its debts is pronouncing a death sentence on the business entities which operate within it. It might be a slow, lingering death, but the end result will be death. Something structural will need to change.
The three options are:
1. Pay your debt obligations, or
2. Become a third world nation, or
3. Expect that your country may be taken over by a stronger country

Not so quick with the options. Another very real option is to tell the creditors to go to hell. The only country that replayed the US for the World War II debts was Norway. You know the old saying what goes around comes around. Payback is hell.

[Jim C]

Justice League wrote:

United States in is big problem US is now on record for highest debt science it’s creation. Currently US Debt is 9,452,473,238,846 (and rising)$ 2,147,633 per every 100 seconds In the long term, if US are to avoid World War III, the most likely outcome will be a merger or an acquisition – depending on the level of euphemism you want to apply.
As an example, the USA's biggest creditors could land up owning large swathes of the US Government's assets. But what would happen if the US Government had insufficient assets to swap? Would the overseas creditors insist on taking ownership of private enterprise companies?
From the perspective of a US Government which is unable to meet its obligations as and when they fall due, how can any forays into Afghanistan and Iraq and the like be justified? Well, if you never had any intention of repaying your debts in the first place, why wouldn't you just borrow the money to finance those wars? Oh? you've been fighting those wars in the name of democracy? Really? From where I'm standing, those wars are serving to hasten the demise of democracy.
In a globalised economic world, the short answer is “no”. A sovereign country which does not honour its debts is pronouncing a death sentence on the business entities which operate within it. It might be a slow, lingering death, but the end result will be death. Something structural will need to change.
The three options are:
1. Pay your debt obligations, or
2. Become a third world nation, or
3. Expect that your country may be taken over by a stronger country

Debts are just points for keeping track of who is winning the game of finance. The real power of a nation is their aptitude and determination. A financially bankrupt country is what we are right now. We have more money going out than coming in. We are borrowing points from other nations at the playing table.
If you have willing people and the raw resources you can overcome the monetary factor. If you are forced to live in your own compound, your borders are safer. If you use your countrymen to build within the compound you do not need the ROW.
Theoretically we could had over all the cash that the Federal reserve issued from every bank, mattress and piggyback in America, get back any securing interest in anything from within America and then develop our own means for conducting trade, manufacturing and agriculture so we all could trade within as before all of this controlling money which is from outside our government.

[Char]

Jim C wrote:

<quoted text>
Debts are just points for keeping track of who is winning the game of finance. The real power of a nation is their aptitude and determination. A financially bankrupt country is what we are right now. We have more money going out than coming in. We are borrowing points from other nations at the playing table.
If you have willing people and the raw resources you can overcome the monetary factor. If you are forced to live in your own compound, your borders are safer. If you use your countrymen to build within the compound you do not need the ROW.
Theoretically we could had over all the cash that the Federal reserve issued from every bank, mattress and piggyback in America, get back any securing interest in anything from within America and then develop our own means for conducting trade, manufacturing and agriculture so we all could trade within as before all of this controlling money which is from outside our government.

For well said.

[arbitrageur]

Cato wrote:

<quoted text>
Only a few phony Americans love criminals.

Yes, and I think that the person you were responding to needs to have their TV taken away.

[Jim C]

Char wrote:

<quoted text>
For well said.

Thanks!

[Justice League]

The USA’s national debt is increasing by $2.43 billion everyday. Economic analysts expect US debt to top the ten trillion dollar mark in the next few years Even if you've escaped the recent housing and credit crunches and are coping with rising fuel prices, you may still be headed for economic misery, along with the rest of the country. That's because the government is fast straining resources needed to meet interest payments on the national debt, which currently stands at $9.369 trillion.

[arbitrageur]

Justice League wrote:

The USA’s national debt is increasing by $2.43 billion everyday. Economic analysts expect US debt to top the ten trillion dollar mark in the next few years Even if you've escaped the recent housing and credit crunches and are coping with rising fuel prices, you may still be headed for economic misery, along with the rest of the country. That's because the government is fast straining resources needed to meet interest payments on the national debt, which currently stands at $9.369 trillion.

Did you go to the London School of Economics, or did you home-school?

[Justice League]

I studied Social Science, Mathematics and psychology at the Uni of Coventry uk.

[arbitrageur]

Justice League wrote:

I studied Social Science, Mathematics and psychology at the Uni of Coventry uk.

Mathematics is certainly necessary in economics, but psychology is unnecessary.

Unless you're a trader.