Sarah Palin Hot Topic or Hot Garbage
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hey! most of the greenie *ssh*les we have here are celebrities. they're really californians, don't blame us!!!
megaladon6 said:
Well, I should have clarified and just said the city. I used to live in Duchess County while I was growing up and not everyone was all that bad.
srercrcr said:
Why exactly did McCain vote against raising the minimum wage? 2 words pork barrel, you should look into it.
So, you must be another one of them people who expect the government to bail you out. I know plenty of people who b*tch and moan, even my own family members. They say the Republicans are only for the rich. These same people never work or worked more than 30 hours a week and have no money to retire on. they have no money saved and are either living on social security, living paycheck to paycheck, or are on welfare. People need to get off their *ss and do something with their life. Who's fault is that? Not the government, not the state they live in and definitely not mine. Americans have become lazy and spoiled. They want to push a few buttons at a Dunkin Doughnuts to make a cup of coffee or put a doughnut in a bag and say thank you for $10.00 an hour.
The same people who are having problems right now in this economy bring it on themselves. They buy a house they can barely afford, they buy a $5,000 plasma T.V., a $3,000 lawn mower, a $40,000 SUV and they have no money saved in the bank because they think their job will always be there. That is why homes are in foreclosure right now. People should NOT be buying a house if it's going to cost more than 25% of their income. Some loan companies will take up to 40% of peoples incomes. Who's fault is that? It is the fault of the people who sign a contract. People should research what they sign and what they buy. If people are stupid enough to lock themselves into a loan that they can't afford then they get what they deserve.
I can keep going if you'd like. People are getting smarter. But with that comes stupidity. There is definitely something wrong with a 35 year old male flipping burgers and on minimum wage. They can do something with their life, they just choose not to.
I know a few old time Portuguese guys who came here for the American dream. One guy started off as a gardener when he was in his 20's. He saved every dime he made. He eventually was a waiter at a restaurant and when I was a waiter in my teens at that very same restaurant, he was a manager. This guy worked his *ss off and saved every penny. he owns 2 houses, paid off, and owns a brand new Mercedes Benz, about $40,000 paid for in cash and he did all of this before the age of 60. He still says to this day when I go eat there, " what a beautiful country I live in". He tells all the employees to work, work, work and save, save, save. When you get older and retire then you can have fun.
I think I made my points.
Raising the minimum wage is pointless. It only raises prices on items used by minimum wage employees, thus negating any gains. I know that as an ex restaurant manager we would raise prices every time it went up so that we could afford to pay for the increased labor cost. The floor will always be the floor, no matter what the pay rate is.
Also, I agree that the fault lies with the borrower on these bad loans. Unfortunately, it also lies with the lenders as well for being too short sighted. What happened is basically this: People took out adjustable rate loans on over priced real estate because they were the only loans they could afford. They had bad or less than ideal credit, but were counting on refinancing before the adjustment period came into play, typically 3-5 years. Unfortunately, the market dropped below the loan value of their home, so no bank would refinance them. Like most with bad credit, they were living at or above their means, and could not afford the adjusted rate ( which can go up 1% a year or more) due to a lack of an income cushion. So, they lost their homes. Now if this happens to a few hundred people, it does not really hurt the market. However, it has happened hundreds of thousands of times forcing a glut of homes on the market and further collapsing housing prices, and making new loans almost impossible to get for people with less than an A credit rating AND sufficient equity.
Now the housing boom was really a bubble built on bad fundamentals. Let me explain. Normal housing prices are based on the ability of people to pay for the house by having enough income to cover the costs. In a bubble though, the ratios are thrown out the window and speculators buy houses to trade to other speculators, thus building value via the greater fool theory ( like the Dot Com boom did). However, market forces eventually come calling and rebalance the market based on the ability of the general public to afford housing. But, now the short-sighted banks who wrote all this bad paper now have to deal with the consequences, and are failing because of it. This is why there are talks of bailouts, since the government does not wish to see further destabilization of the banking system. It is a real problem too since it basically effects the entire country. Remember that any money you have in the bank is used by the bank to make investments and loans, and now that money has evaporated. So, if the banks fail due to an inability to cover their depositors, the government has to pay out, via the FDIC, up to 100,000 in deposit insurance. This was put there during the depression of the 1930's to stabilize the banks and rebuild public confidence in them. Unfortunately, the FDIC only really has the ability to cover about 5% of total deposits in the US at any one time. So, there is a real need to keep from having a run on the banks.
Also, I agree that the fault lies with the borrower on these bad loans. Unfortunately, it also lies with the lenders as well for being too short sighted. What happened is basically this: People took out adjustable rate loans on over priced real estate because they were the only loans they could afford. They had bad or less than ideal credit, but were counting on refinancing before the adjustment period came into play, typically 3-5 years. Unfortunately, the market dropped below the loan value of their home, so no bank would refinance them. Like most with bad credit, they were living at or above their means, and could not afford the adjusted rate ( which can go up 1% a year or more) due to a lack of an income cushion. So, they lost their homes. Now if this happens to a few hundred people, it does not really hurt the market. However, it has happened hundreds of thousands of times forcing a glut of homes on the market and further collapsing housing prices, and making new loans almost impossible to get for people with less than an A credit rating AND sufficient equity.
Now the housing boom was really a bubble built on bad fundamentals. Let me explain. Normal housing prices are based on the ability of people to pay for the house by having enough income to cover the costs. In a bubble though, the ratios are thrown out the window and speculators buy houses to trade to other speculators, thus building value via the greater fool theory ( like the Dot Com boom did). However, market forces eventually come calling and rebalance the market based on the ability of the general public to afford housing. But, now the short-sighted banks who wrote all this bad paper now have to deal with the consequences, and are failing because of it. This is why there are talks of bailouts, since the government does not wish to see further destabilization of the banking system. It is a real problem too since it basically effects the entire country. Remember that any money you have in the bank is used by the bank to make investments and loans, and now that money has evaporated. So, if the banks fail due to an inability to cover their depositors, the government has to pay out, via the FDIC, up to 100,000 in deposit insurance. This was put there during the depression of the 1930's to stabilize the banks and rebuild public confidence in them. Unfortunately, the FDIC only really has the ability to cover about 5% of total deposits in the US at any one time. So, there is a real need to keep from having a run on the banks.
Without feeling a need to make a dissertation, Republicans are for the "haves" and Democrats are for the "have nots". If you don't fit that model you're either confused, or you've been indoctrinated.
srercrcr said:
If you actually believe that, it is YOU that has been indoctrinated! Just because someone makes a policy that is meant to help the poor does not actually mean it will. Intentions are meaningless, it is the results that count, and the Democrats have little to show for all their grand social schemes over the years. After 40 years of the "War on Poverty" and LBJ's "Great Society", the poverty rate remains the same as it was before we started. So, a lot of money and feelings were spent with no substantive improvements to the plight of the poor.
i wouldn't mind them raising the min wage a little bit, but they're talking about going to something like $12/hr!!!!!!!!!!!!!! i spent years working my *ss off to get that kind of pay. hell i don't make that much more than that now, and i work at a high-precision manufacturer making HIGHLY specialized satellite parts. and it's not like they'll raise everyones wage accordingly. so you'll have HS students punching button making as much as people with tech certifications. does that sound fair?
if you're in your 20's and making minimum wage and only have one job, you better be a f&ckin' college student. or if you just lost a job, just doing it for a couple of months while you look for something better.
if you're in your 20's and making minimum wage and only have one job, you better be a f&ckin' college student. or if you just lost a job, just doing it for a couple of months while you look for something better.
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