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Fuel prices and mortgage collapse: death to economy?
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| Fuel prices and mortgage collapse: death to economy?
- Click HERE to go to the original thread with graphics
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| xenoman |
Will the costs of war, mortgage loan defaults, and now highest fuel prices ever be the downfall of our economy?
How many more disasters can the economy take? All of these were preventable. All this occured under George Bush's watch. |
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| sixsixsix666 |
| Also the death of Saddam Hussein and his sons. |
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| VacateTheWord |
Quote: Originally posted by xenoman
Will the costs of war, mortgage loan defaults, and now highest fuel prices ever be the downfall of our economy?
How many more disasters can the economy take? All of these were preventable. All this occured under George Bush's watch. |
Are you serious?
What do mortgage loan defaults have to do with President Bush?
A person enters into a mortgage that he/she has no business in entering. It's the same thing as a person maxing out a credit card and opening up another line - they eventually are earning less than what they owe. How about a little personal responsibility.
And high fuel prices - are you suggesting the President controls the price of oil? Get a life.
Downfall of the economy. You should print that on a poster and walk the streets of your neighborhood warning everyone that the end is near. Well, better do so in the evening because the country is at full employment so most people will be at work during the day. |
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| mb33139 |
Quote: Originally posted by VacateTheWord
Are you serious?
What do mortgage loan defaults have to do with President Bush?
A person enters into a mortgage that he/she has no business in entering. It's the same thing as a person maxing out a credit card and opening up another line - they eventually are earning less than what they owe. How about a little personal responsibility.
And high fuel prices - are you suggesting the President controls the price of oil? Get a life.
Downfall of the economy. You should print that on a poster and walk the streets of your neighborhood warning everyone that the end is near. Well, better do so in the evening because the country is at full employment so most people will be at work during the day. |
Are YOU serious?
Bush stood in front of America and took credit for his "ownership society", bragging about how many Americans had bought homes. Now that the real estate market is collapsing, how does it reflect back on him? |
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| Ass Boil |
Quote: Originally posted by VacateTheWord
Are you serious?
What do mortgage loan defaults have to do with President Bush?
A person enters into a mortgage that he/she has no business in entering. It's the same thing as a person maxing out a credit card and opening up another line - they eventually are earning less than what they owe. How about a little personal responsibility.
And high fuel prices - are you suggesting the President controls the price of oil? Get a life.
Downfall of the economy. You should print that on a poster and walk the streets of your neighborhood warning everyone that the end is near. Well, better do so in the evening because the country is at full employment so most people will be at work during the day. |
:funny: :funny: :funny: :funny: :funny: :funny: |
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| Monster_Zero |
Quote: Originally posted by VacateTheWord
And high fuel prices - are you suggesting the President controls the price of oil? Get a life.
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You're right... how could destabilizing the middle east possibly effect the price of oil? :rolleyes:
Certainly an administration made up primarily of former oil company executives would have no interest in doing something like that... |
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| Billyfromsphily |
Quote: Originally posted by VacateTheWord
Are you serious?
What do mortgage loan defaults have to do with President Bush?
A person enters into a mortgage that he/she has no business in entering. It's the same thing as a person maxing out a credit card and opening up another line - they eventually are earning less than what they owe. How about a little personal responsibility.
And high fuel prices - are you suggesting the President controls the price of oil? Get a life.
Downfall of the economy. You should print that on a poster and walk the streets of your neighborhood warning everyone that the end is near. Well, better do so in the evening because the country is at full employment so most people will be at work during the day. |
Bush has let all the regulatory commissions ignore their purpose. If the feds had kept a tighter reign on the qualifications and regulations that were GROSSLY being ignored , then maybe so many fly by night lenders wouldn't have been able to sell of the highly speculative loan packages.
Everybody turns a blind eye when profits are being made!
Bush has ignored what ever he wanted to in favor of profit. |
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| Oz |
Quote: Originally posted by Billyfromsphily
Bush has let all the regulatory commissions ignore their purpose. If the feds had kept a tighter reign on the qualifications and regulations that were GROSSLY being ignored , then maybe so many fly by night lenders wouldn't have been able to sell of the highly speculative loan packages.
Everybody turns a blind eye when profits are being made!
Bush has ignored what ever he wanted to in favor of profit. |
Ask Neil "Silverado" Bush what he thinks of all this. |
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| AcquiringSignal |
Who remember the great days under Clinton when gas was from 93 cents to $1.25 tops! Shit I used to be pissed when gas went from 93 cents to 97 cents, I'd wait for it to come back down. NOW I just assume the first number is going to be a 3 :rolleyes: :mad:
If we didnt have a rubberstamp republican congress who looked into nothing under Bush, possibly we could have asked why after 9/11 gas has gone up $2.00 per gallon even with record profits. Iraq has nothing to do with it because their fuel hasnt been on the market for over a decade.
If we didnt have oil guys in office and a rubberstamp congress for 6+ years we could have had all the oil guys come in front of congress and explain their price hikes and their record profits. |
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| Billyfromsphily |
Quote: Originally posted by AcquiringSignal
Who remember the great days under Clinton when gas was from 93 cents to $1.25 tops! Shit I used to be pissed when gas went from 93 cents to 97 cents, I'd wait for it to come back down. NOW I just assume the first number is going to be a 3 :rolleyes: :mad:
If we didnt have a rubberstamp republican congress who looked into nothing under Bush, possibly we could have asked why after 9/11 gas has gone up $2.00 per gallon even with record profits. Iraq has nothing to do with it because their fuel hasnt been on the market for over a decade.
If we didnt have oil guys in office and a rubberstamp congress for 6+ years we could have had all the oil guys come in front of congress and explain their price hikes and their record profits. |
It would be especially nice to ask them why they need so many TAX BREAKS in addition to their profits. |
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| Billyfromsphily |
| The Right can bitch and moan about Hillary all they want , but basically China owns us now! |
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| zimmie |
lmao...gas is cheaper than coca cola or bottled water.......I needs to go to $5.00 a gallon, all the gloom and doom last time it went to $3.00 a gallon and nothing happened.
it's supply and demand, don't like the price...drive less
just checked my mortgage papers, can't find George Bushs' signature on it anywhere.....93% are up-to-date..........fuck em, they couldn't afford it..... |
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| VacateTheWord |
Quote: Originally posted by mb33139
Are YOU serious?
Bush stood in front of America and took credit for his "ownership society", bragging about how many Americans had bought homes. Now that the real estate market is collapsing, how does it reflect back on him? |
Simple - because the President is not in attendance when people who have no business entering into a mortgage are signing papers. If you can't afford to buy a home, then you shouldn't buy one. The President didn't have any idea people would go into default because of their own negligence.
Two words - personal responsibility. |
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| VacateTheWord |
Quote: Originally posted by Monster_Zero
You're right... how could destabilizing the middle east possibly effect the price of oil? :rolleyes:
Certainly an administration made up primarily of former oil company executives would have no interest in doing something like that... |
Yup, it's all America's fault.
It has nothing to do with the demand for oil skyrocketing due to the needs of China and other nations who are growing exponentially.
:rolleyes:
As for the conspiracy theory that the President and his oil friends are rigging the price to make money - get a life. |
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| Oz |
Quote: Originally posted by VacateTheWord
Yup, it's all America's fault.
It has nothing to do with the demand for oil skyrocketing due to the needs of China and other nations who are growing exponentially.
:rolleyes:
As for the conspiracy theory that the President and his oil friends are rigging the price to make money - get a life. |
:lol: seems unrealistic to you does it? :lol: |
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| VacateTheWord |
Quote: Originally posted by Oz
:lol: seems unrealistic to you does it? :lol: |
What are you referring to? |
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| zimmie |
| Unrealistic until you can explain it to us...........Tell us why oil has increased in cost then Professor.... |
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| Oz |
Quote: Originally posted by VacateTheWord
What are you referring to? |
:lol: you think businessmen and politicians don't want to make money - you are so naive :lol: |
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| VacateTheWord |
Quote: Originally posted by Oz
:lol: you think businessmen and politicians don't want to make money - you are so naive :lol: |
I never said that - I just reject the conspiracy theory that you seem to support that the President is jacking up the price of oil so that he and his friends can get rich.
The President has no control over the world demand for oil. If you disagree with that, then you don't have the first clue as to what causes the price for a barrel of crude to rise and fall. Yes, jitters over war are a factor, but there are many others and they don't include your fantasies of a President who jacks up the cost from the Oval office. |
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| Oz |
Quote: Originally posted by VacateTheWord
I never said that - I just reject the conspiracy theory that you seem to support that the President is jacking up the price of oil so that he and his friends can get rich.
The President has no control over the world demand for oil. If you disagree with that, then you don't have the first clue as to what causes the price for a barrel of crude to rise and fall. Yes, jitters over war are a factor, but there are many others and they don't include your fantasies of a President who jacks up the cost from the Oval office. |
I agree - there is no conspiracy and I don't believe Bush is pushing up oil prices. Now stop being a naive tool :lol: |
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| harley-davidson |
Quote: Originally posted by Oz
I agree - there is no conspiracy and I don't believe Bush is pushing up oil prices. Now stop being a naive tool :lol: |
Its Clintons fault...he got a blow job |
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| zimmie |
Has the increase in oil prices affected the U.S. trade deficit?
From January 2002 to July 2006 for both the overall trade balance and the petroleum-related trade balance; the latter includes imports and exports of crude oil, fuel oil, liquefied petroleum gases, and other petroleum products. The overall monthly trade deficit went from $30 billion to $68 billion, and the petroleum-related trade deficit went from $6 billion to $26 billion.
These numbers imply that higher oil prices and the resulting higher cost of petroleum imports have accounted for over 50% of the deterioration in the overall U.S. trade deficit during this period. Indeed, looking at only the last two years, from August 2004 to July 2006, the data are more striking. The overall trade deficit grew from $54 billion to $68 billion and the petroleum-related trade deficit rose from $14 billion to $26 billion, indicating that the deterioration in the petroleum-related trade deficit accounts for 80% of the worsening in the overall trade deficit.
http://www.frbsf.org/publications/e.../el2006-24.html |
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| Billyfromsphily |
Quote: Originally posted by VacateTheWord
Simple - because the President is not in attendance when people who have no business entering into a mortgage are signing papers. If you can't afford to buy a home, then you shouldn't buy one. The President didn't have any idea people would go into default because of their own negligence.
Two words - personal responsibility. |
Its not as simple as you are. But thats the way you moron right wingers think the world is. |
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| harley-davidson |
Quote: Originally posted by Billyfromsphily
Its not as simple as you are. But thats the way you moron right wingers think the world is. |
If you dressed a shit sandwich up to look like lobster, it would be the best lobster Vacate ever ate. |
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| flamslam64 |
Quote: Originally posted by Billyfromsphily
Its not as simple as you are. But thats the way you moron right wingers think the world is. |
I do not see how gov is to blame. The mortgage companies and the banks assumed the responsibility of high risk applicants. The brokers were not screening the applicants well. Anybody with a reasonable understanding of finance should have seen these loans as a pipe dream. Where I live people were buying homes that were way too big for their lifestyles thinking that their income would catch up. That is irresponsibility on their part. We can blame Bush for alot of things but there comes a time where people have to take responsibility for their actions and this is one of them. I believe that Fannie Mae mortgages were unavailable to these folks. |
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| spidir |
Quote: Originally posted by Billyfromsphily
Bush has let all the regulatory commissions ignore their purpose. If the feds had kept a tighter reign on the qualifications and regulations that were GROSSLY being ignored , then maybe so many fly by night lenders wouldn't have been able to sell of the highly speculative loan packages.
Everybody turns a blind eye when profits are being made!
Bush has ignored what ever he wanted to in favor of profit. |
Not so fast... I don't want (or need) a tighter reign if that prevents me from owning a house. Some people will make poor choices and suffer the consequences. |
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| zimmie |
| liberals believe you should apply to the government to see if you can afford it before you buy a house. |
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| Stickman |
Can we add the devalued dollar to the growing list of what might prompt an economic apocolypse?
Here's something else. If the bees don't return next spring to pollinate east coast crops and we have to import them by the millions from Australia again, nearly every non meat food product you buy will be more expensive.
Sounds like a joke, but this is a huge threat to our economy. |
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| Infant Gorilla |
Quote: Originally posted by xenoman
Will the costs of war, mortgage loan defaults, and now highest fuel prices ever be the downfall of our economy?
How many more disasters can the economy take? All of these were preventable. All this occured under George Bush's watch. |
Earth to Xenoman: the economy is strong. We have been growing since Q4 2001. Unemployment has in the 4.5 range for the entire decade. Inflation has been 1.5-3.5%, which is an optimal range. Interest rates have been relatively low. The stock markets have performed decently. Our fuel prices are not the highest ever, adjusted for inflation (it was higher in the early 1980's). Maybe you don't agreee with the Iraq war, but our overall defense spending is still a relatively historically low portion of the US budget. The mortgage loan defaults obviously have nothing to do with Bush. |
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