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 allegiant_one
Joined: 6/3/2008
Msg: 51
What is the LOW........... 5000 DOW?Page 3 of 4    (1, 2, 3, 4)
And I couldn't help noticing that Gramm, Leach, and Bliley are all Republicans.


You are ABSOLUTELY correct! They were all Republicans (RINO's) - Republican In Name Only. Fiscal Conservatives, they were not. Repealing Glass-Steigel was a HORRIBLE turn of events. BUT....To Blame GW Bush is ABSOLUTELY incorrect! Bush tried to institute "Over-Sight" over Fannie and Freddie, but the Democrats BLOCKED all the efforts. Anyone and Everyone is to Blame on the Economic Disaster now taking place. Not just GW Bush. I said that earlier to the OT, but it really doesn't matter now. Democrats are In-Charge now to attempt to clean up the mess CAUSED by Congress. Do YOU have "confidence" that Congress (who created this mess) will do what is "Right" by the American People, when they "played" so recklessly with the Economy for Political Expediency?

Not me.

The American People should have their FOCUS on Congress and on ALL the members who did this. However, the Media "ramped up" the "Bush Hatred" to "shield" the REAL culprits (still in Office) for Political Expediency. It's a shame that we, our Children and our Grandchildren must SUFFER because of these LYING CLOWNS in Washington.

Now we have another "Bush Hating" Distraction by these LYING CLOWNS to prosecute the Bush Administration. It never stops with these guys! Anything to take the FOCUS off of them.

Obama is part of it. If he REALLY wanted to be "Honest" with the American People, he would DEMAND that Congress establish a "Commission" to "expose" what happened. Instead, he's on the "Blame Bush Band-Wagon" to Protect his "buddies". He now says he "Inherited" this mess, eventhough "his buddies" CAUSED this mess. Politics as "usual" and the American People MUST pay. Go Figure!

It's a shame the American People can't go to court (Class Action Lawsuit/Impeachment) to "force" the TRUTH to come out against these CLOWNS.
 HalftimeDad
Joined: 5/29/2005
Msg: 52
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What is the LOW........... 5000 DOW?
Posted: 3/6/2009 7:59:16 AM
Hang on now. I'm confused.

Are you saying that deregulation isn't a Republican plank? But earlier you were whining that there hasn't been a free market since 1913. So those who advocate deregulation aren't "Real" Republicans - but you want even more deregulation.

One of us is experiencing cognitive dissonance here.
 Yevgeny
Joined: 3/15/2008
Msg: 53
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What is the LOW........... 5000 DOW?
Posted: 3/6/2009 8:10:25 AM
Yeah, that Glass-Steagal act was a huge lifesaver. I mean, the whole idea that a company must be confined to a single type of financial services is an absolute winner. It's the smartest thing ever since the whole "put all your eggs in one basket" principle was established. Screw diversification. Who needs that? I say we make Europeans adapt the act. They never did... I wonder how they managed to survive without that.
 HalftimeDad
Joined: 5/29/2005
Msg: 54
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What is the LOW........... 5000 DOW?
Posted: 3/6/2009 8:17:22 AM
The Glass-Steagal Act was brought in in the wake of the Crash of 1929 - in order to prevent a similar crash in the future. But of course, by 1999, bankers were far less greedy and stupid. So it was no longer needed. Why, we are now living in a Utopia of free market forces where the bankers and brokerage houses are safe, stable and providing security for the economy.

Isn't that what the right was arguing in advocating for repealing the Act?
 allegiant_one
Joined: 6/3/2008
Msg: 55
What is the LOW........... 5000 DOW?
Posted: 3/6/2009 8:28:42 AM
Are you saying that deregulation isn't a Republican plank?


Of course not. The De-regulation is a Republican plank. BUT....so was the Oversight of the De-Regulation. Oversight was BLOCKED by Congressional Democrats. You know how this works....or are you Blaming just GW Bush, too?


But earlier you were whining that there hasn't been a free market since 1913.


Not whining...just stating a Fact. In 1913, Woodrow Wilson signed into Law the Federal Reserve Act establishing The FED (Central Bank). Wilson "un-did" what Andrew Jackson went to war over....to throw out and "rout" the "fraudulent" Central Banks out of the United States, so we could have an "Honest" Money System.

This is explained in this Zeitgeist Video, which by the way, is NOT very flattering to the Bush family. Call it a "Conspiracy Video" if you want, but it does have some pertinent information about the "fraudulent" FED established in 1913. (Consumer Driven/Credit Based Economy)

http://www.youtube.com/watch?v=_dmPchuXIXQ


One of us is experiencing cognitive dissonance here.


One or BOTH? All this kind of "dissonance" going on in the Media, Hollywood Documetaries and even on these POF threads - reminds me of the Beatles Song "A Day in the Life".
 HalftimeDad
Joined: 5/29/2005
Msg: 56
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What is the LOW........... 5000 DOW?
Posted: 3/6/2009 8:35:49 AM

Of course not. The De-regulation is a Republican plank. BUT....so was the Oversight of the De-Regulation.


Oversight of what? If you remove regulations, you stop enforcing them. When Nevada eliminated speed limits of highways, they didn't increase the number of highway cops and radar guns.

Look, the very right wing Democratic Party bought the sales pitch that repealing the Act would be a good thing. Within a few years it became clear that it wasn't. That's when Republicans controlled all 3 branches of government absolutely.

Yes, the Democratic Party should move to the centre, ie to the left. But it's not their fault that Republican legislation, Republican House, Republican Senate and a Republican administration caused a massive meltdown.
 Yevgeny
Joined: 3/15/2008
Msg: 57
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What is the LOW........... 5000 DOW?
Posted: 3/6/2009 8:40:19 AM

The Glass-Steagal Act was brought in in the wake of the Crash of 1929 - in order to prevent a similar crash in the future. But of course, by 1999, bankers were far less greedy and stupid. So it was no longer needed. Why, we are now living in a Utopia of free market forces where the bankers and brokerage houses are safe, stable and providing security for the economy.


You should lobby for Act to be brought back. Since you are a Canadian, you might want to start with Canada. You never had that type of act, and somehow financial institutions offering the services across various sectors hasn't caused the problems. Geee, I wonder why.

So, I say, push for this at home, and meanwhile I'll get the popcorn, the comfy chair (Noooo! Not the comfy chair), and watch the fun ensue.
 HalftimeDad
Joined: 5/29/2005
Msg: 58
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What is the LOW........... 5000 DOW?
Posted: 3/6/2009 8:50:11 AM
Actually, we do have that kind of legislation here. Banks and insurance companies were lobbying to get it repealed, as well as other safeguards removed for years.

But now we're feeling pretty smug. Our banks got hurt buying Asset Backed Paper out of the States, but it only hurt their bottom lines - didn't shake the eonomic core.

See, we're pretty conservative - in the true sense of the word. We don't go in for radical change just cause it's the flavour of the week.
 allegiant_one
Joined: 6/3/2008
Msg: 59
What is the LOW........... 5000 DOW?
Posted: 3/6/2009 9:22:24 AM
That's when Republicans controlled all 3 branches of government absolutely.

Yes, the Democratic Party should move to the centre, ie to the left. But it's not their fault that Republican legislation, Republican House, Republican Senate and a Republican administration caused a massive meltdown.


Quite disengenuous of you, sir. You can "hack" all you want, but the TRUTH as to the way "our" system "works" is that in order for a Bill to Pass the Senate, there MUST be 2/3 Majority and at least 60 votes, 3/5 Majority to form Cloture. The Senate from 2001-2003 was 50/50. The Senate Democrats DID BLOCK any attempt by the Bush Administration to establish Oversight Regulations over Fannie Mae and Freddie Mac. The Repubicans DIDN'T have the Votes to invoke Cloture, but the Democrats DID have enough Votes to threaten a Filibuster.

The Republicans NEVER had Absolute "Power "or "Control" of the Senate, such as the Democrats enjoy now. They can invoke Cloture on anything they want.

"Hack" all you want, but the CAUSE for the "massive melt-down", in the "Timeline of Events", SOLELY rests on the Democrats for BLOCKING attempts by Republicans and the Bush Administration to establish "Oversight" on the GSE's (Fannie and Freddie).

Sorry, Dude. The TRUTH is the TRUTH! Good Try though.
 allegiant_one
Joined: 6/3/2008
Msg: 60
What is the LOW........... 5000 DOW?
Posted: 3/6/2009 11:15:20 AM
Anyway, back on Topic...

@ TradurGurl

So....the unemployment # came out this morning. 8.1% (much higher than predicted). However, the Market didn't fall through the floor....yet.

It seems obvious to me that the Government and the FED are quietly "manipulating" the Market. Do you see that?

Also, I heard that the US Government may be looking to buy Gold and/or Silver. World Central Banks would sure get into a "tizzy" over this one. Have you heard any rumors to this? (I think Obama sees that the "paper" Dollar will eventually become "Toilet Paper")
 Yevgeny
Joined: 3/15/2008
Msg: 61
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What is the LOW........... 5000 DOW?
Posted: 3/6/2009 11:32:33 AM
Back on topic, eh? OK, anyone wants to start a poll on when Dow will hit 6000? The one who comes closest will get this valuable hundred billion dollars note from Bank of Zimbabwe:

http://upload.wikimedia.org/wikipedia/en/2/28/Hundred_billion_dollars_and_eggs.jpg

Come on, we are not going to let some little third world country beat USA when it comes to setting the world's records, are we? Just look at all the billionaires they are creating with their policy. Well, if they can do it, so can we. So, can we get a little more of that "Yes, we can!" attitude, please?

Ooops. Did I veer off topic again? Sorry.
 allegiant_one
Joined: 6/3/2008
Msg: 62
What is the LOW........... 5000 DOW?
Posted: 3/6/2009 11:51:30 AM

OK, anyone wants to start a poll on when Dow will hit 6000?


Whew! When the DOW hits 6000, I expect Obama to call for Bank Holidays or something else very Draconian like a Precious Metals seizure. DOW 6000 will be the "Straw that Breaks the Camel's Back" regarding the Banks. China may pull out. OPEC may pull out. Japan may pull out. Say "bye-bye" to the Dollar.


The one who comes closest will get this valuable hundred billion dollars note from Bank of Zimbabwe:


Hmmm. I heard the FED is printing a US TRILLION Dollar Bill. You'll never guess who's Picture will be on it, LOL. I hope it will buy me some eggs...maybe some bacon (pork) to go along with it.


Come on, we are not going to let some little third world country beat USA when it comes to setting the world's records, are we? Just look at all the billionaires they are creating with their policy.


You wanna know what Obama is up to? Here ya go....

http://www.youtube.com/watch?v=iivL4c_3pck&feature=related


Well, if they can do it, so can we. So, can we get a little more of that "Yes, we can!" attitude, please?


LOL...
 sum1reel
Joined: 6/5/2005
Msg: 63
What is the LOW........... 5000 DOW?
Posted: 3/7/2009 6:47:29 AM
to those on the left


Democrats DID BLOCK any attempt by the Bush Administration to establish Oversight Regulations over Fannie Mae and Freddie Mac.


let me just add.....that the impetus behind this was that the Dems (so called champions of the "poor") wanted to ensure that all classes of pple should be able to get loans/mortgages (regardless of their ability to pay it back)............thus setting lending guidelines/regulations on Freddie/Fannie would have cut the flow of money to the those of weak or dubious financial capabilities..............Barney "robinhood" Frank, in his Quixotic mission to get money to everybody, was in no way gonna go for any regulations as such.

Seondly, if there is any substance behind Obama's intent to get us on the mend......he will probably have to push for regulatory statutes (similar if not more severe than Glass-steigel).....which are appropriate for the current climate.............Obama, will definitely not demand any investigative committees in what was behind the current melt-down because it obviously expose his constituency.........does anyone know how much ACORN contributed to his campaign?
 allegiant_one
Joined: 6/3/2008
Msg: 64
What is the LOW........... 5000 DOW?
Posted: 3/7/2009 10:30:02 AM
So...This week, "New Lows" have been set in the Dow Jones and S&P. What do you make of this? Here's what I'm hearing...

"Bottom Callers" really don't have a clue when it will end. They have been in a nominal Bull Market since 1982, not counting the "small" Recessions we had throughout the years. When we had a Recession, Government created "Bubbles" (Dot Com, Housing) to stem the tide of "what-should-have" taken place in the Market at the time. (Corrections) BUT, " Politicians sure don't want a Recession taking place on their watch, especially if they want to get re-elected. (Never-mind to what is BEST for the Country.) Anyway, keep in mind that most "Bottom Callers" around today have NEVER been through a Bear market, so they don't know what to expect. The "Long and Short" of it is that we probably won't see a "Bottom" for a long time yet. Eventhough this sounds crazy, DOW 1500 (or lower) seems possible. Here's why.

The "Biggest Risk" right now is the Currency that most people are holding. (Dollar) Gold and Silver have value. They have always had value...and they won't lose value. In fact, they will probably go up in value as Currency falls through the floor. Gold and Silver are your "Economic Fire Insurance" against the De-Valuing Currency. "Smart" Investors are seizing the opportunity to buy Gold and Silver. Even if a "New Economic System" (Socialism or a "new" Capitalist economy with new rules) is put in place, Gold and Silver will still have value. "Dollars" will eventually become worthless. You can use the paper Dollar as Toilet Paper.

Unemployment #'s came out this week at 8.1% (much higher than predicted). However, I think even theses numbers are skewed. If Unemployment numbers were calculated the same way as back in the Great Depression, Unemployment would really be at about 17.5%. The Great Depression Unemployment "peak" was 25%, so we're getting pretty close.

The "Biggest Employer" is NOW the Government and Education. Isn't that staggering? (Or "Astounding" as Obama likes to use). The average "Work Week" for Full Time Employees is now at 33 hrs. Companies are being "forced" to "reduce" FT workers to Part Time Labor. As a result, our Consumer Driven/Credit Based "Phoney" Economy is contracting. GDP is really declining at an accelerated pace. The DOW shows that.

If you don't think that Unemployment numbers are MUCH higher than the Government is putting out (8.1%), then just look at your inner circle. Family? Friends? How many of them are Unemployed right now? 2 out of 10? 3 out of 10? 4 out of 10? Do the math.

Back in the Great Depression, people stood in "Bread and Soup Lines" to get a meal. Well...The Bread Lines have already started! Food Stamps are up from 27 Million to 31.8 Million year to date. 700,000 MORE people were added to Food Stamps in February alone. EVERY SINGLE STATE (except for 3) had increased Food Stamp Applications just last month. April Food Stamp Benefits will most likely increase another 13% and most of it will be funded from the Stimulus. Yup. That's what I said...The "Stimulus". The Stimulus is "stimulating" the increase in Food Stamps. This is probably a good thing, however, not for the reason you may think. I believe the Government is earmarking money from the Stimulus toward Food Stamps in order to prevent civil unrest. But when "Hyper-Inflation" kicks in, all bets are off.

Also, Delinquincies and Bank "Charge-Offs" are at a record 42% yr to yr. This, for sure, is NOT being priced into the Market. The DOW would show a much larger decline. Mortgage deliniquincies also rose 11% last mouth. (yr to date) The DOW is down almost 25% yr to yr. and still falling. When the Commercial Real Estate Bubble finally "bursts", we're all screwed. As ARM's and Mortgage Options continue to "reset" (because the Housing Bubble is still bursting), this will only add to the decline into a very DEEP DEPRESSION.

This number should really start to "Scare" people. 8.3 MILLION mortgage holders are now "Upside Down"! (Upside Down = Mortgage is more than the value of their house) According to the Boston Federal Reserve, the #1 Reason for "Foreclosure" is people having Properties, which are Upside Down. As Housing Prices continue to fall, and people realize that they have "Negative Equity" in their homes, Foreclosures will be MUCH MUCH higher as we count in MORE and MORE job losses. ARM's are continuing to reset....at least for another 30 months. When the job losses are counted in, the "Upside Down" number will go much much higher. The later half of 09 will be a "Blood Bath" for the Real Estate sector of our Economy and will definetely show a very steep drop. Also, the "Value" of these foreclosed mortgages (loans) will be much much larger.

So...what are the Politicans saying?

Hillary Clinton is now saying what Rahm Emanuel is saying.... "You can't let a good crisis "go by" without making major Change." These Democrats are something else, aren't they? They really want to Micro-Manage our lives. Oh yeah...they are also "Spending" not only YOUR Money (or Wealth), but your Children's Wealth and your Grandchildren's Wealth. Thank you, Barney Frank, Chris Dodd, Chuck Schumer, Gregory Meeks, Maxine Waters....and Barack Obama. I digress...

The FED and the Government are "manipulating" the Market, for sure. Banks are being proped up by the Government, but their Stock is still losing value. All this "talk" of Nationalizing the Banks has Investors running Scared. If the Banks become Nationalized, the "average" Stock Holder in these Banks will lose everything. I know most Obama "Lovers" say "So what." But what they don't realize is that many "innoncent" Investors will become destitute.

It's time for people to PREPARE! Start Buying Food that will have a long shelf life. Buy Bottled Water, if you live in an area where water is at a Premium. Also, Protect yourself.

It's also time for people to Google "Tax Revolts" in your area....then Go! Participate! And don't lose Heart! Be Proud to be an American!

http://www.bornagainamerican.org/

http://www.youtube.com/watch?v=vBZSBGHm0RY
 HalftimeDad
Joined: 5/29/2005
Msg: 65
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What is the LOW........... 5000 DOW?
Posted: 3/7/2009 11:00:39 AM

Gold and Silver have value. They have always had value...and they won't lose value. In fact, they will probably go up in value as Currency falls through the floor. Gold and Silver are your "Economic Fire Insurance" against the De-Valuing Currency. "Smart" Investors are seizing the opportunity to buy Gold and Silver.


One of the advantages of getting old is you start seeing everything come around again. Back in the 70's there were a bunch of books and theories that said this very thing. Then gold dropped about 90% in value over the next decade. It's a commodity which has very little intrisic value. Oil, copper, iron, wheat all have real value and their prices go up and down too. But if you're going to get on the gold roller coaster you're in for a wild ride.

Things are very bad right now. Some banks are going to be nationalized - hell, Bush's administration nationalized some. And you know they didn't take that path unless there wasn't any other choice.

I have absolutely no idea how on earth a tax revolt is supposed to improve things. Or where you got the idea that Clinton (while she's visiting foreign capitals trying to undo the damage of the last 8 years) said anything like you're claiming. But, I guess you've become an "America Hater," playing the "Blame Game," who "Blames America First." Sorry, I've had these things thrown at me when Bush was in office. I couldn't resist (don't really mean it).
 Yevgeny
Joined: 3/15/2008
Msg: 66
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What is the LOW........... 5000 DOW?
Posted: 3/7/2009 11:55:07 AM

Or where you got the idea that Clinton (while she's visiting foreign capitals trying to undo the damage of the last 8 years) said anything like you're claiming.


Could it be from an article titled "Never waste a good crisis, Clinton says on climate"? That would be my guess, at least.

http://www.reuters.com/article/vcCandidateFeed1/idUSL6592864

And Clinton is doing a bang up job undoing the damage, what with overcharging the Russians and telling Europeans that their democracy is not all that. That woman has a natural flair for comedy, which is certainly a big asset in this administration.
 allegiant_one
Joined: 6/3/2008
Msg: 67
What is the LOW........... 5000 DOW?
Posted: 3/7/2009 12:49:17 PM
Then gold dropped about 90% in value over the next decade.


True. But at that time, Currency (The Dollar) has NEVER been "threatened", like it is now.


It's a commodity which has very little intrisic value.


The intrinsic "value" of Gold and Silver (as a commodity) is that it will have continue to have "value" (as a Currency)...worldwide. Gold has held "value" to "Civilized Man" for more than 5000 years. It was (and is) "Currency". In fact, up till 1971, it "backed" US Currency. Gold has a "basic" intrinsic "value", where as "Fiat" Currency, will collapse as "The Authority" collapses...whether it be the FED, World Central Banks or the US Government.


Oil, copper, iron, wheat all have real value and their prices go up and down too. But if you're going to get on the gold roller coaster you're in for a wild ride.


Speculators and Manipulators create the "real" value in the Market. (as we have seen with Oil this past year) Gold may be a roller coaster ride, but it is a "Safe Haven" for Investor's Wealth. The "Trend" is that Gold will Rise in "value", as "fiat" currency de-values and the World's Economies decline. Those who have the Gold, will "Rule the Roost".


Things are very bad right now. Some banks are going to be nationalized - hell, Bush's administration nationalized some. And you know they didn't take that path unless there wasn't any other choice


You really HATE Bush, don't you? LOL. What Bush proposed is the Government purchasing Equity Shares in "troubled banks" on a "temporary basis"....NOT to "take over" the Banks. LOL.


I have absolutely no idea how on earth a tax revolt is supposed to improve things.


Tax Revolts are aimed at fighting BIG GOVERNMENT! As to how it will "improve things", I guess you'll have to attend one to find out.


Or where you got the idea that Clinton (while she's visiting foreign capitals trying to undo the damage of the last 8 years) said anything like you're claiming.


Do you mean the last 8 years (under GW Bush) of Democratic Political Expediency at the "Expense" of the American People's Wealth......or the current Obama strategy of "Capitulation" so that foreign entities will continue buy our debt? (Sorry, I couldn't resist either)


But, I guess you've become an "America Hater," playing the "Blame Game," who "Blames America First." Sorry, I've had these things thrown at me when Bush was in office. I couldn't resist (don't really mean it).


"America Hater" - I can't see how you come to that conclusion...maybe because I, like many others, want Obama's "Socialist" Policies to fail?

"Blame Game" - I think I've already established that In the "Timeline" of Events, the Democrats shoulder most of the Blame. (see prior posts and "Evidence" Videos) But I know you HATE Bush, so I'll never change your mind. LOL

"Blame America First" - The "World" may see it that way as their Economies continue to decline or even crash. Considering that many Economies around the World "peg" their Currency to the "Dollar", I can see "why" they would feel this way. However, I surely don't feel that way. So, using a Medical metaphor, the American Economy has been "attacked" from within. A "Cancer" has developed and it has been developing for many years. Perhaps complacency or prosperity has fueled it (I don't know), but whatever comes at us, Freedom and Liberty, along with Patriotism must still remain intact.

However, "Social" Policy, Political Correctness, "Dependence" on Government and Politicians (instead of on Self-Reliance) and GREED (for money and power)... ALL contribute to the "Cancer". The "Cancer" is Liberalism.
 CharlesEdm
Joined: 9/16/2006
Msg: 68
What is the LOW........... 5000 DOW?
Posted: 3/7/2009 3:53:55 PM
Blocked in 2003.

2003.

What was going on in 2003?

Who was president? Who controlled the house and the senate?

Also a hatred of Bush is not indicative of a lack of sense. Hatred can be perfectly justifiable. It's not as if the man was a popular president.

Then again why are we bothering arguing with a guy that thinks the DOW will hit 0?
 jack-d-ripper
Joined: 2/25/2008
Msg: 69
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What is the LOW........... 5000 DOW?
Posted: 3/7/2009 4:27:33 PM
If anyone wants posts of GWBush trillion into Fannie and Freddy I will.

Why were the Borders opend by GW........... Home Builders.




http://www.usatoday.com/money/perfi/housing/2004-01-20-fha_x.htm

Posted 1/20/2004 1:31 AM


Bush seeks to increase minority homeownership
By Thomas A. Fogarty, USA TODAY
In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.

In announcing the plan Monday at a home builders show in Las Vegas, Federal Housing Commissioner John Weicher called the proposal the "most significant FHA initiative in more than a decade." It would lead to 150,000 first-time owners annually, he said.

Nothing-down options are available on the private mortgage market, but, in general, they require the borrower to have pristine credit. Bush's proposed change would extend the nothing-down option to borrowers with blemished credit.

The FHA isn't a direct lender, but guarantees loan payments for mortgages on moderately priced owner-occupied property. The FHA guarantee now permits private lenders to finance as much as 97% of the purchase price of a home for millions of low- and middle-income borrowers.

In the proposal soon to be delivered to Congress, Bush would allow the FHA to guarantee loans for the full purchase price of the home, plus down-payment costs. As a practical matter, the FHA would guarantee mortgages as high as 103% of the value of the underlying property.

Weicher says the change is aimed at potential home buyers whose credit excludes them from the private mortgage market. Borrowers would need sufficient income to meet monthly payments. But, he said, the plan would eliminate the single largest impediment to homeownership for millions of households — lack of money for a down payment.

The most recent government figures show a national home ownership rate of 68.4%, the highest ever. But less than half of black and Latino householders own the home in which they live. Bush has a goal of 5.5 million new minority homeowners this decade.

FHA loans carry higher risks of delinquency and foreclosure than do private mortgages, and the proposed change presumably will lead to greater losses to the government than the current program does.

Weicher said the added risk will be offset by higher fees charged to borrowers who opt to make no down payment.

On a $100,000 mortgage with an interest rate of about 6%, the nothing-down borrower could expect closing costs $750 higher than other FHA customers. Monthly house payments would be slightly higher.

Mortgage analyst Keith Gumbinger of financial publishers HSH Associates says the Bush plan "would fill at least a small niche in the mortgage market" — first-time buyers with somewhat impaired credit.

Affordable-housing advocate Scott Syphax, CEO of Nehemiah Corp., called the proposal "revolutionary." It marks the clearest official acknowledgment that millions of potential homeowners are being blocked by high down-payment costs, he says.
 TradurGurl
Joined: 8/21/2007
Msg: 70
What is the LOW........... 5000 DOW?
Posted: 3/8/2009 4:38:38 PM

@ TradurGurl

So....the unemployment # came out this morning. 8.1% (much higher than predicted). However, the Market didn't fall through the floor....yet.

It seems obvious to me that the Government and the FED are quietly "manipulating" the Market. Do you see that?


yeah! I was right by my computer looking for some quick short sells. What I liked even better was the BEE-U-TI-FULL ceremony that immediately followed GAO announcements:

Obama at the Ohio Police Accademy proudly announcing the TWENTY-FIVE BRAND NEW JOB OPENINGS that his "stimulus plan" had created for police officers in Ohio! That's right folks -- 25!!!

Obama had flown down there in his private jet, along with 1/2 of his cabinet -- to mark the televised occasion. There was an enomous ceremony -- even had a brass band!!!
No expense was spared on the televising of this event!!

Literally brought tears to my eyes, folks ......
 TradurGurl
Joined: 8/21/2007
Msg: 71
What is the LOW........... 5000 DOW?
Posted: 3/8/2009 4:46:02 PM
PS -- and yes, I get your point re: mkt manipulation, Alegiant One.

The first steps have been in the works a long time. Now look at the timing of certain speeches, and announcements......
 gizmosellschickens
Joined: 5/20/2007
Msg: 72
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History
What is the LOW........... 5000 DOW?
Posted: 3/9/2009 3:30:31 AM
Dow is in bear market right now and sliver, gold, metals is good this time. Im gambling on GM stock because of the fact it only 30 dollar loss buying 25 shares. at $1.45 a share. If the economy grows 2% in 2011 and GM sells automobiles again make a couple hundered dollars profit if sales go up. Other hand, if GM is bankrupt the stock is worthless that okay because America is corporatist state that will always bail out the entrenched intrestst. The goverment will always screw the little people over. Still, just sold two grand in stocks and got into sliver and good. Thank good I did I would of lost an extra 200 dollars if I held the stock for any longer. Preservation of value of investment is key till the bear have nothing else to feed on. Still, bought GM stock to play chicken with the goverment.
 gizmosellschickens
Joined: 5/20/2007
Msg: 73
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What is the LOW........... 5000 DOW?
Posted: 3/9/2009 3:32:52 AM
Dow is in bear market right now and sliver, gold, metals is good this time. Im gambling on GM stock because of the fact it only 30 dollar loss buying 25 shares. at $1.45 a share. If the economy grows 2% in 2011 and GM sells automobiles again make a couple hundered dollars profit if sales go up. Other hand, if GM is bankrupt the stock is worthless that okay because America is corporatist state that will always bail out the entrenched interests groups like Unions, big coporations, big banks, big healthcare companies. "The goverment will always screw the little people over!" Still, just sold two grand in stocks and got into sliver and good. Thank good I did I would of lost an extra 200 dollars if I held the stock for any longer. Preservation of value of investment is key till the bear have nothing else to feed on. Still, bought GM stock to see if the deal is lottery tickets.
 Ready4SomethingFun
Joined: 3/17/2008
Msg: 74
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What is the LOW........... 5000 DOW?
Posted: 3/9/2009 11:33:37 AM

Obama at the Ohio Police Accademy proudly announcing the TWENTY-FIVE BRAND NEW JOB OPENINGS that his "stimulus plan" had created for police officers in Ohio! That's right folks -- 25!!!

Obama had flown down there in his private jet, along with 1/2 of his cabinet -- to mark the televised occasion. There was an enomous ceremony -- even had a brass band!!!
No expense was spared on the televising of this event!!



Wow, only 1,999,975 to go til the whole two million he promised are created. And only 75,999 more televised photo ops at taxpayers expense.
 Montreal_Guy
Joined: 3/8/2004
Msg: 75
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What is the LOW........... 5000 DOW?
Posted: 3/10/2009 4:01:09 PM
In other news.......


March 10, 2009: 6:28 PM ET

NEW YORK (CNNMoney.com) -- Stocks rallied Tuesday - with all three major indexes logging their biggest gains of the year - after Citigroup cooled some worries about its future and regulators said they may reinstate a key trading rule.

The Dow Jones industrial average (INDU) gained 379 points, or 5.8%. It was the Dow's biggest one-day point and percentage gain since Nov. 24, 2008.

The S&P 500 (SPX) index gained 43 points, or 6.4%. It was the biggest one-day point gain since Dec. 16, 2008 and biggest on a percentage basis since Nov. 24, 2008.

The Nasdaq composite (COMP) climbed almost 90 points, or 7.1%. It was the biggest one-day point gain since Nov. 13, 2008 and biggest percentage gain since Oct. 28, 2008.

http://money.cnn.com/2009/03/10/markets/markets_newyork/index.htm?postversion=2009031011



President Obama Job Approval
Approve Disapprove Spread
RCP Average 02/25 - 03/06 -- 60.3 28.4 +31.9

http://tinyurl.com/khp5v


Direction of country ?
http://tinyurl.com/5hzc4c

Seems the sky isn't falling after all, although it may still have storm clouds ahead on the horizon for a while yet.
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