Comments on: The Economy Still in the Shitter http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/ Sun, 27 May 2012 07:03:00 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Bruce http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1262051 Bruce Sat, 03 Oct 2009 13:01:24 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1262051 Your friend has two problems, Larry. First, he's wanting a mortgage in the "jumbo" category that is seen by lending institutions as riskier to own and more difficult to sell or securitize than conventional mortgages. Second, as you mention, this condo is not going to be your friend's primary residence. Both of these factors mean that most mortgage lenders are refusing to make these kinds of loans as a matter of policy. This is foolish, of course, because it amounts to "fighting the last war." Prices on condos like the one your friend is buying have come way down, and your friend is more than credit worthy. Not long ago, these same institutions were falling over each other to give away mortgages on the same condos at inflated prices to people with no income, no jobs, and no assets (so-called "ninja" loans). Now that they've been bitten by loans that were sure losers, they won't make loans that are sure money-makers. While there are plenty of examples of the stupidity of government, this is an example of the stupidity of banks. Your friend has two problems, Larry. First, he’s wanting a mortgage in the “jumbo” category that is seen by lending institutions as riskier to own and more difficult to sell or securitize than conventional mortgages. Second, as you mention, this condo is not going to be your friend’s primary residence. Both of these factors mean that most mortgage lenders are refusing to make these kinds of loans as a matter of policy. This is foolish, of course, because it amounts to “fighting the last war.” Prices on condos like the one your friend is buying have come way down, and your friend is more than credit worthy. Not long ago, these same institutions were falling over each other to give away mortgages on the same condos at inflated prices to people with no income, no jobs, and no assets (so-called “ninja” loans). Now that they’ve been bitten by loans that were sure losers, they won’t make loans that are sure money-makers. While there are plenty of examples of the stupidity of government, this is an example of the stupidity of banks.

]]> By: Katmoon http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261904 Katmoon Sat, 03 Oct 2009 01:05:37 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261904 Hahahaa, Good post, needed the laugh, so perfect. Thank you. Hahahaa, Good post, needed the laugh, so perfect. Thank you.

]]> By: TeakWoodKite http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261899 TeakWoodKite Sat, 03 Oct 2009 00:58:52 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261899 (Comments might not nest below this level), but I can. A TGIF tip o' the hat to those up thread who have fished out poop from the pool of poltics. As a lifeguard, it was one of my favorite things to say. "Everybody out, there's a floater!" Yep, that there is <a href="http://www.youtube.com/watch?v=Th_aBzrV37M" rel="nofollow">prime obot floater</a> alright. (Comments might not nest below this level), but I can.

A TGIF tip o’ the hat to those up thread who have fished out poop from the pool of poltics. As a lifeguard, it was one of my favorite things to say. “Everybody out, there’s a floater!”

Yep, that there is prime obot floater alright.

]]> By: The Economy Still in the Shitter : NO QUARTER | 7 Article http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261829 The Economy Still in the Shitter : NO QUARTER | 7 Article Fri, 02 Oct 2009 23:27:24 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261829 [...] here: The Economy Still in the Shitter : NO QUARTER Tags: barack-obama, Business, country, Finance, housing, larry-johnson, legal, Real estate, [...] [...] here: The Economy Still in the Shitter : NO QUARTER Tags: barack-obama, Business, country, Finance, housing, larry-johnson, legal, Real estate, [...]

]]> By: steve1 http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261599 steve1 Fri, 02 Oct 2009 18:50:20 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261599 Let's get that damnn puppet out of the WH-Clinton, 2012! Let’s get that damnn puppet out of the WH-Clinton, 2012!

]]> By: avwrobel http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261493 avwrobel Fri, 02 Oct 2009 16:50:08 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261493 The problem with that savings rate figure is that paying down credit card debt is included in it. Its not real savings. Scary times, but we're all in it together. The problem with that savings rate figure is that paying down credit card debt is included in it. Its not real savings. Scary times, but we’re all in it together.

]]> By: avwrobel http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261490 avwrobel Fri, 02 Oct 2009 16:44:29 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261490 Uh-uh. Its coming this year. The commercial real estate defaults are starting to appear. Look for the DOW to drop below 7000 by Dec 15. Sorry to be the bearer of bad news, but we're going to have to endure the second of the double-dip. Then we'll know if the left has any real influence on policy, or if Obambi will just keep protecting Wall Street. Uh-uh. Its coming this year. The commercial real estate defaults are starting to appear. Look for the DOW to drop below 7000 by Dec 15. Sorry to be the bearer of bad news, but we’re going to have to endure the second of the double-dip. Then we’ll know if the left has any real influence on policy, or if Obambi will just keep protecting Wall Street.

]]> By: Ladydawnelle http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261460 Ladydawnelle Fri, 02 Oct 2009 16:09:48 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261460 right on my Puma friend I too jumped that rotten ship May 2009 Won't be voting for a DONKEY for many eons to come! I'm betting this one term-one trick pony will lose quite handily in 2012 and 2010 will be a downer for mules as well I'm not advocating Repugs either (all yucky cept Sarah of course) but I'm witnessing the pendulum again and it's swinging pretty hard - I hope we can slow it down before it goes way over to the other end of the lake (again in the mucky shallows) the fringe need to step BACK and READ something OTHER than their bleeding heart looney left Kos/Huff/msnbo propaganda that only seeks knowledge from the lost left side of the tree. read the bills their candidate sponsored or voted PRESENT to and which ones they champion and how many times they LIE out the side of their mouth - which with Obambi is almost daily now. right on my Puma friend

I too jumped that rotten ship May 2009

Won’t be voting for a DONKEY for many eons to come! I’m betting this one term-one trick pony will lose quite handily in 2012 and 2010 will be a downer for mules as well

I’m not advocating Repugs either (all yucky cept Sarah of course) but I’m witnessing the pendulum again and it’s swinging pretty hard – I hope we can slow it down before it goes way over to the other end of the lake (again in the mucky shallows)

the fringe need to step BACK and READ something OTHER than their bleeding heart looney left Kos/Huff/msnbo propaganda that only seeks knowledge from the lost left side of the tree.

read the bills their candidate sponsored or voted PRESENT to and which ones they champion and how many times they LIE out the side of their mouth – which with Obambi is almost daily now.

]]> By: Sassy http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261413 Sassy Fri, 02 Oct 2009 15:19:57 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261413 Saturns were original produced in Spring Hill, Tennessee. They were some real issues with the first models of the Vue...the axles broke in pot holes or on swerving. That was during the tire blow-outs scandals that caused so many accidents. The new Ford Taurus will probably suit Saturn buyers. Saturns were original produced in Spring Hill, Tennessee.
They were some real issues with the first models of the Vue…the axles broke in pot holes or on swerving. That was during the tire blow-outs scandals that caused so many accidents.
The new Ford Taurus will probably suit Saturn buyers.

]]> By: Mark http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261411 Mark Fri, 02 Oct 2009 15:15:06 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261411 Larry, you worry to much. EMPTYSUIT is in Denmark and all is well. Larry, you worry to much. EMPTYSUIT is in Denmark and all is well.

]]> By: Docelder http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261408 Docelder Fri, 02 Oct 2009 15:03:59 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261408 Saturns were fuel efficient cars since back when GM was hawking Hummers. I don't get it either. There has to be more market for Saturns now than Cadillacs. Maybe it is still just the bottom line and they can make more on a Cadillac. Or, maybe the Saturns are made places where the unions don't like the pay rates and benefits. One thing for sure, it probably isn't about the cars people want. People want something dependable they can afford to drive and insure. Hint... that isn't $50,000 hybrids... people would want them if they were $20,000, and if they would last at least 10 years like cars used to. If they can't be about cars people want and can buy again, they will be forever on the government teat. Which is probably the idea now that the unions own a large part of the operation. They can nurse of the government teat and tell themselves how much they are building stuff for a strong America. Right. Saturns were fuel efficient cars since back when GM was hawking Hummers. I don’t get it either. There has to be more market for Saturns now than Cadillacs. Maybe it is still just the bottom line and they can make more on a Cadillac. Or, maybe the Saturns are made places where the unions don’t like the pay rates and benefits. One thing for sure, it probably isn’t about the cars people want. People want something dependable they can afford to drive and insure. Hint… that isn’t $50,000 hybrids… people would want them if they were $20,000, and if they would last at least 10 years like cars used to. If they can’t be about cars people want and can buy again, they will be forever on the government teat. Which is probably the idea now that the unions own a large part of the operation. They can nurse of the government teat and tell themselves how much they are building stuff for a strong America. Right.

]]> By: FrenchNail http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261405 FrenchNail Fri, 02 Oct 2009 14:31:53 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261405 HUH!!!! Reality check.... THE DEMS HAVE THE SUPER MAJORITY TO PASS WHATEVER THEY WANT. They are chocking on the Obamacare, like they are chocking on their own vomit. Nobody's else! HUH!!!! Reality check…. THE DEMS HAVE THE SUPER MAJORITY TO PASS WHATEVER THEY WANT.

They are chocking on the Obamacare, like they are chocking on their own vomit. Nobody’s else!

]]> By: hokma http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261404 hokma Fri, 02 Oct 2009 14:31:46 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261404 I was in Chicago recently on business and had one of those forever cab rides from O’Hare to downtown. I had a 59 year old African American cab driver Joe (for his safety I don’t want to use his full name which is the same as a famous person). He was a talker and spent the entire time complaining about the city government and how they were spending all their time and money on trying to get the Olympics while the crime rate was staggering. He cited specific situations and families that it affected and how. Frank is a Vietnam Vet, has worked hard his whole life, is devoted to his family, and he has been a loyal Democrat who was understandably excited about Obama’s election. Now he has second thoughts about voting for him again because he has turned his back on his brothers in Chicago by ignoring the crime problem and just supporting a corrupt mayor as Frank put it. Frank does not have a Harvard degree and doesn’t rub elbows with the elites of the world, but in his mind he cannot rationalize how his government can spend money on an Olympic bid when that money could have been spent saving lives in Chicago including his son’s life who refused to join a gang and was killed for it. There is a major dichotomy within the elitist world of African Americans like Obama and Oprah and the real world of African Americans like Joe. I was in Chicago recently on business and had one of those forever cab rides from O’Hare to downtown. I had a 59 year old African American cab driver Joe (for his safety I don’t want to use his full name which is the same as a famous person).

He was a talker and spent the entire time complaining about the city government and how they were spending all their time and money on trying to get the Olympics while the crime rate was staggering. He cited specific situations and families that it affected and how.

Frank is a Vietnam Vet, has worked hard his whole life, is devoted to his family, and he has been a loyal Democrat who was understandably excited about Obama’s election.

Now he has second thoughts about voting for him again because he has turned his back on his brothers in Chicago by ignoring the crime problem and just supporting a corrupt mayor as Frank put it.

Frank does not have a Harvard degree and doesn’t rub elbows with the elites of the world, but in his mind he cannot rationalize how his government can spend money on an Olympic bid when that money could have been spent saving lives in Chicago including his son’s life who refused to join a gang and was killed for it.

There is a major dichotomy within the elitist world of African Americans like Obama and Oprah and the real world of African Americans like Joe.

]]> By: jwrjr http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261396 jwrjr Fri, 02 Oct 2009 14:19:41 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261396 Saturns are durable and fairly reliable (I drive one). Of course the Automobile <strike>racket</strike> industry can't have that. Saturns are durable and fairly reliable (I drive one). Of course the Automobile racket industry can’t have that.

]]> By: AF catfish http://www.noquarterusa.net/blog/34030/the-economy-still-in-the-shitter/#comment-1261394 AF catfish Fri, 02 Oct 2009 14:10:19 +0000 http://www.noquarterusa.net/blog/?p=34030#comment-1261394 Of all the brands to shutter, the Saturn? People I know who own them love the Saturn. It's the only brand people didn't associate with GM. Of all the brands to shutter, the Saturn? People I know who own them love the Saturn. It’s the only brand people didn’t associate with GM.

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