B Hop explains racial slur:says he didn't mean it,was just to sell fights.

[Kirkland Laing]

Who said anything about "black Americans"....you don't have to be black to be on welfare you can be white, hispanic, asian, or whatever and be on welfare youmade the welfare issue about race and it's not about race it's about entitlement and laziness.

Yes the preadatory lending was sheisty but we'll rebound after a while...this kind of stuff happens people find something they can take advantage of and they go nuts with it.

I don't think Uncle Sam should open up his wallet to help these banks....they don't deserve any help because what they did was wrong to begin with

So compare this small part of the banker welfare bill to the total welfare payment every year. You can't work the numbers out, can you ?

You don't have a clue what you're talking about re. predatory lending, or when "we'll rebound." You haven't worked out yet that "you're" the one getting shafted here.

What you think or don't think is irrelevant, it's what's going to happen that's relevant. And what's going to happen is that you're going to get shafted.

[El Kabong]

So compare this small part of the banker welfare bill to the total welfare payment every year. You can't work the numbers out, can you ?

You don't have a clue what you're talking about re. predatory lending, or when "we'll rebound." You haven't worked out yet that "you're" the one getting shafted here.

What you think or don't think is irrelevant, it's what's going to happen that's relevant. And what's going to happen is that you're going to get shafted.

For your first question....I disagree with the government bailing ANYONE out especially when the banks and lenders did wrong to begin with.

Your second part...the economy has cycles this is a downturn partly because of this lending business and partly because we're going into an election year and there is always trepidation in the market because there will be big change in Washington and the market is affected by such worries.

There have been issues like this before in the past and the economy HAS ALWAYS REBOUNDED....not as fast as we would sometimes like but it always comes back. People losing their houses and cars it's sad it really is but they were ignorant of their loan agreements and the banks counted on that when they made those horrible offers.

It's going to be tough here for a while but it'll get better

[El Kabong]

...you do realize that the government will more than likely bail out both the banks AND the people who got loans....yeah I will end up getting screwed by this and all because there were ignorant people out there who didn't read their loan applications and there were predators out there ready to go get them.

[Kirkland Laing]

...you do realize that the government will more than likely bail out both the banks AND the people who got loans....yeah I will end up getting screwed by this and all because there were ignorant people out there who didn't read their loan applications and there were predators out there ready to go get them.

The government will bail out almost nobody. The banks will get all the money. In the US, the socialist handouts go to corporations, not people.

You realise that the "predatory lending*" you're talking about would have been impossible if the Bush administration had enforced existing laws and not actually sided with the banks against individual states who were trying to use the existing law to prevent predatory lending. The Bush administration filed lawsuits to stop all state level investigation of lending practices. Do you know why ? Because they were intent on letting a huge credit bubble expand to keep the economy ticking till 2008 to hide the fact that their economic policies had been a catastrophic failure.

But facts and evidence don't matter to you. You'll find some dumbass way to rationalise this.

*This isn't just a subprime problem, it's a problem throughout the credit and financial industry and it's only just beginning.

[El Kabong]

Greenspan had a hand in this as well...so let's include him in all the fun too

Sure we're going to see more trouble come from this cars and homes repo'ed but the repo guys will be doing big business so there are some low/middle income earners that will be doing ok

[El Kabong]

...you know you're a lot like Mitt Romney, I start on an issue and you try to steer me into talking about the economy.


There is no need for this thread anymore if we're done talking about Bernard Hopkins and what he said about Joe Calzaghe

[Kirkland Laing]

...you know you're a lot like Mitt Romney, I start on an issue and you try to steer me into talking about the economy.


There is no need for this thread anymore if we're done talking about Bernard Hopkins and what he said about Joe Calzaghe

You're the biggest bloviator on the forum. A conversation with you goes in a hundred different directions as you change the subject to avoid dealing with facts and evidence. I've finally managed to back you into a corner in this thread where you'd have to display some actual knowledge of the things we're talking about to continue and since you don't have any you can't.

Read the next post before replying.

[Kirkland Laing]

Greenspan had a hand in this as well...so let's include him in all the fun too

Sure we're going to see more trouble come from this cars and homes repo'ed but the repo guys will be doing big business so there are some low/middle income earners that will be doing ok

How some people do is irrelevant. How the vast majority of people do is, and they've been and are going to continue to be shafted. This is all part of a process that's been going on since Reagan and the only thing that will arrest it is when the American middle class hits a wall.

Middle class families have exhausted the coping mechanisms they've used for over three decades to get by on median wages that are barely higher than they were in 1970, adjusted for inflation. Male wages today are actually lower than they were then; the income of a young man in his 30s is now 12 percent below that of a man his age three decades ago.

The first coping mechanism was moving more women into paid work. The percent of working mothers with school-age children has almost doubled since 1970 -- from 38 percent to about 70 percent. Some parents are now even doing 24-hour shifts, one on child duty while the other works.

When families couldn't paddle any harder, they started paddling longer. The typical American now works two weeks more each year than 30 years ago, putting in 350 more hours a year than the average European, more even than the notoriously industrious Japanese.

As the tide of economic necessity continued to rise, America turned to the third coping mechanism, taking equity out of their homes, big time. But now that home prices are sinking for the first time in decades, this final coping mechanism no longer keeps the economy afloat.

The fact is, most Americans are still not prospering in the high-tech, global economy that emerged three decades ago. Almost all the benefits of economic growth since then have gone to a relatively small number of people at the very top. And that's only going to get worse as globalisation increases. The only questions remaining are how bad do things have to get before people start noticing and what happens when they do?

[Trainer Monkey]

How some people do is irrelevant. How the vast majority of people do is, and they've been and are going to continue to be shafted. This is all part of a process that's been going on since Reagan and the only thing that will arrest it is when the American middle class hits a wall.

Middle class families have exhausted the coping mechanisms they've used for over three decades to get by on median wages that are barely higher than they were in 1970, adjusted for inflation. Male wages today are actually lower than they were then; the income of a young man in his 30s is now 12 percent below that of a man his age three decades ago.

The first coping mechanism was moving more women into paid work. The percent of working mothers with school-age children has almost doubled since 1970 -- from 38 percent to about 70 percent. Some parents are now even doing 24-hour shifts, one on child duty while the other works.

When families couldn't paddle any harder, they started paddling longer. The typical American now works two weeks more each year than 30 years ago, putting in 350 more hours a year than the average European, more even than the notoriously industrious Japanese.

As the tide of economic necessity continued to rise, America turned to the third coping mechanism, taking equity out of their homes, big time. But now that home prices are sinking for the first time in decades, this final coping mechanism no longer keeps the economy afloat.

The fact is, most Americans are still not prospering in the high-tech, global economy that emerged three decades ago. Almost all the benefits of economic growth since then have gone to a relatively small number of people at the very top. And that's only going to get worse as globalisation increases. The only questions remaining are how bad do things have to get before people start noticing and what happens when they do?

He's wrong on this one as well.Buddy of mine is a conscietious with his money as they come
He works corporate collections
He had his van repoed while he was at work

[El Kabong]

....once again this is a NONISSUE IN THIS THREAD if you want to talk economy make a new thread.

Sure wages need to increase....but don't you think illegal immigrants affect that?

Anyone who is making minimum wage needs to get a fucking clue and get a REAL job.

People also need to learn more about how to handle their money and read contracts. And education is always an issue and it needs to be more of a priority.

[Kirkland Laing]

For your first question....I disagree with the government bailing ANYONE out especially when the banks and lenders did wrong to begin with.

Your second part...the economy has cycles this is a downturn partly because of this lending business and partly because we're going into an election year and there is always trepidation in the market because there will be big change in Washington and the market is affected by such worries.

There have been issues like this before in the past and the economy HAS ALWAYS REBOUNDED....not as fast as we would sometimes like but it always comes back. People losing their houses and cars it's sad it really is but they were ignorant of their loan agreements and the banks counted on that when they made those horrible offers.

It's going to be tough here for a while but it'll get better

Whether you disagree with it or not it's going to happen and you personally are going to bail out billionaire and centimillionaire bankers and investors.

Who wins in November is irrelevant to the current state of the financial markets. You really shouldn't pontificate on things you don't have a clue about. This downturn is caused entirely by the inability of the Bush administration to handle fiscal policy competently or lawfully.

The economy will indeed rebound but certain sections of the economy are going to do worse and worse over time. For low/middle income earners the next couple of decades are going to be horrific.