The implosion is accelerating; prepare while you can

[Harte]

Re: The implosion is accelerating; prepare while you can

I do believe it is not quite that easy. A hell of a lot of the properties are not really worth anything anymore. A few banks tried to sell reprocessed houses for a dollar or so but could not find any buyers. They usually have no plumbing left, the doors and window frames are stolen, the roof tiles are missing and in a few cases even the floor boards have been ripped out. This houses will be a liability for the government. The council charges still have to be paid, and they also have to pay for the demolition of whatever is still standing. So as far as I can see it the government should stay away.

Jurgen,

While it's true there are many desolate properties in the U.S., it's absurd to try and characterize the financial crisis in those terms.

I haven't claimed that the government will make money. I'm stating that much of the money will be recouped by mortgages being paid off or by foreclosures and sales.

Many firms in need of help are being adversely affected by market forces alone and hold few or even no subprime or delinquent mortgages.

Your example of vacant, damaged properties is just one way the government stands to lose money on this deal.

However, with the bill coming in at around 700 billion initially, I thought it made sense to point out that the actual costs should be much, much less than this, just as it was with the RTC.

Harte

 

[gl100]

Re: The implosion is accelerating; prepare while you can

I don't know that damaged properties are necessarily losers. The land value alone could make it attractive. In fact many developers buy these types of properties with demo in mind. I still think raw land will always hold its worth far better than developed property.

 

[kcwildman]

Re: The implosion is accelerating; prepare while you can

it would appear that folks think this hole mess is about the banks and bad loans
sorry it aint now and never was. these worthless fucks have been slobering on the floor for a couple years now bout how they could legally sieze all the pension funds
and guess what there are doing it right now. hell I even watched some dumb ass investment women say not to retire just keep working tell you can't anymore
taxes craddle to grave, house forclosed on, not to worry the gov. will buy your prop. mortgage and rent it to you at a bargin rate only half your wage. bad credit not to worry the company store will do a payroll deduct. soon you will be told where to work ,live,shop, when and where you can travel to.I believe the prophet said it would end up at a days wages for enough wheat to make a loaf of bread. this aint no fix there doin its a theft. there stealing yours, mine, everyones reserve funds get it no net to catch you. 98% will come beggin for any scrapps they are throwing. and take any shit they dish out just to eat. oh yeh you have to have a uncorruptable form of ID to get the hand outs something you can't lose or steal. oh yeh boys drop your socks and grab your cocks we're goin to a party.

 

[gonzogirl]

Re: The implosion is accelerating; prepare while you can

it would appear that folks think this hole mess is about the banks and bad loans
sorry it aint now and never was. these worthless fucks have been slobering on the floor for a couple years now bout how they could legally sieze all the pension funds
and guess what there are doing it right now. hell I even watched some dumb ass investment women say not to retire just keep working tell you can't anymore
taxes craddle to grave, house forclosed on, not to worry the gov. will buy your prop. mortgage and rent it to you at a bargin rate only half your wage. bad credit not to worry the company store will do a payroll deduct. soon you will be told where to work ,live,shop, when and where you can travel to.I believe the prophet said it would end up at a days wages for enough wheat to make a loaf of bread. this aint no fix there doin its a theft. there stealing yours, mine, everyones reserve funds get it no net to catch you. 98% will come beggin for any scrapps they are throwing. and take any shit they dish out just to eat. oh yeh you have to have a uncorruptable form of ID to get the hand outs something you can't lose or steal. oh yeh boys drop your socks and grab your cocks we're goin to a party.

Holy Cats! You are serious! What if we all get out of this ok.....wow what a thought. Was it u kc who said that in the future people will have to go and "work" off their loans in a sort of labor camp? Yikes!
I agree that this isnt really about the banking industry per se...Some people think that it was just a way for RICH bastards to get their hands on the most money that they could before the crap hits the fan and the regulations start. It was bound to happen with deregulation.. And having the finacial industry police themselves would be like me giving my kid a car and telling her just to police herself and dont do anything you shouldnt..HA!

 

[Chip Lewis]

Re: The implosion is accelerating; prepare while you can

Holy Cats! You are serious! What if we all get out of this ok.....wow what a thought. Was it u kc who said that in the future people will have to go and "work" off their loans in a sort of labor camp? Yikes!
I agree that this isnt really about the banking industry per se...Some people think that it was just a way for RICH bastards to get their hands on the most money that they could before the crap hits the fan and the regulations start. It was bound to happen with deregulation.. And having the finacial industry police themselves would be like me giving my kid a car and telling her just to police herself and dont do anything you shouldnt..HA!

Actually it would be like giving the banks and their CEO's a blank check to do what they will "except" (ETC) and then have them just "be careful"....

Oh yeah that is what is happening. Nevermind.

 

[kcwildman]

Re: The implosion is accelerating; prepare while you can

Holy Cats! You are serious! What if we all get out of this ok.....wow what a thought. Was it u kc who said that in the future people will have to go and "work" off their loans in a sort of labor camp? Yikes!
I agree that this isnt really about the banking industry per se...Some people think that it was just a way for RICH bastards to get their hands on the most money that they could before the crap hits the fan and the regulations start. It was bound to happen with deregulation.. And having the finacial industry police themselves would be like me giving my kid a car and telling her just to police herself and dont do anything you shouldnt..HA!

sadly yes I am and worse yet the next step will be a new money issued and the exchange rate will be not good. the banks will close for a few days so the fed can ship out the new cash. it will be touted as a new banking system. but soon it too will fail, with in months of the issue.then will come the camps for the ones who will get blamed for its failing. just like hitler blamed the jews and put them in camps.
it will be very interesting to watch how people react to lossing everything they thought had value

 

[jurgen36]

Re: The implosion is accelerating; prepare while you can

However, with the bill coming in at around 700 billion initially, I thought it made sense to point out that the actual costs should be much, much less than this, just as it was with the RTC.

Harte

The way it looks now the real bill will be at a minimum 2 + trillion dollars.
Regards

 

[kcwildman]

Re: The implosion is accelerating; prepare while you can

well the markets took a hit this week huh GM at 5 bucks. it won't take long at this rate for every dollar of pension fund investments/401k investments to be stolen. whats the folks gonna doo when the checks stop commin

 

[gonzogirl]

Re: The implosion is accelerating; prepare while you can

Actually it would be like giving the banks and their CEO's a blank check to do what they will "except" (ETC) and then have them just "be careful"....

Oh yeah that is what is happening. Nevermind.

Yeah, I was just gonna say...the same thing.
This bailout (NOT A RESCUE!) is BS!!!!!!!!
I still dont understand alot of the economics stuff..but right now I am mad about the naked short selling..
AMERICA: wake the hell up and pull yer head out and start getting some knowledge and power!!!!!!!!!!!!!!!! You dont have to be brilliant to be involved and do something...Look at me for Christ Sake!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[kcwildman]

Re: The implosion is accelerating; prepare while you can

they just announced that the state of MO. has only 6 more months of unemployment money. then we are broke. the wheels are comin off the cart guys. this shit will get ugly quick,fast,in a hurry like