tag:blogger.com,1999:blog-27697009.post9038684051746279173..comments2024-02-29T03:21:35.007-08:00Comments on The Great Depression of 2006 : Raising Taxes Generates Less RevenueJim in San Marcoshttp://www.blogger.com/profile/09435296419912935381noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-27697009.post-80369052858963153582009-12-01T19:47:02.328-08:002009-12-01T19:47:02.328-08:00Hi Bank Insider
I'm in complete agreement. Bu...Hi Bank Insider<br /><br />I'm in complete agreement. But there are two pieces of the puzzle that don't fit together.<br /><br />If the government guarantees all bank loans, there there is no need to charge extra interest for the risk taken and the banks are doing home loans now at less than 5%. The lack of risk will keep rates low.<br /><br />At the same time, a person with bad credit using a credit card is paying 29% interest. With that sort of interest rate, the risk seems very real.<br /><br />I'm sure this will work itself out, I'm just not sure how.<br /><br />Every day we hear the recession is over and as you pointed out, the country went through the same song and dance in 1930. It's going to get worse.<br /><br />Thank you for your commentsJim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-68738199323058955032009-12-01T06:03:48.199-08:002009-12-01T06:03:48.199-08:00A crash in commercial real estate is starting.
Opt...A crash in commercial real estate is starting.<br />Option ARM loans equal if not greater than the subprime loans are just now beginning to re-set and default. How can the banks survive this? The bankers are cooking the numbers to squeeze out as big of bonuses as they can now so they will be ready to bail when the time comes.<br />Interest rates will have to rise to entice investors to buy the 2 trillion in US short-term debt coming up for refinancing in the next 18 months. Rising interest rates, more defaults and foreclosures = plummeting real estate prices.<br />The worst is yet to come.<br /><br />Just remember, in the summer of 1930 newspapers reported there were "green shoots" and the Great Depression was over.Bank Insidernoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-55908876073078992252009-11-28T21:26:16.230-08:002009-11-28T21:26:16.230-08:00Hi Farmer Bobb
I agree it is going to get worse.
...Hi Farmer Bobb<br /><br />I agree it is going to get worse.<br /><br />But as you suggest, where is the American engine of productivity? It certainly isn't in the USA.<br /><br />That is the real problem.<br /><br />It is hard to figure where we go from here, everything is uncertain.<br /><br /><br />Glad you like the blog, your comments are my paycheck. <br /><br />Take care.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-53023489845439036152009-11-28T21:11:55.052-08:002009-11-28T21:11:55.052-08:00Hi Tyrone
I don't think we have the luxury of...Hi Tyrone<br /><br />I don't think we have the luxury of 5 years. I figure 2 at the mosts.<br /><br />Plus, we are not going to like the government solution to this mess. ---------I hope I am wrong.<br /><br />Thank you for your comments.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-73346082879785430762009-11-25T12:57:39.900-08:002009-11-25T12:57:39.900-08:00In five years the American people will still be wh...In five years the American people will still be whinning about high taxes, high unemployment, the high cost of living and most likely vote the same way we always vote. I believe most major American businesses will hang up the "Closed" sign an go else where. Walmart, here I come, do you have a job for me.<br /><br />Great Blog Jim!!! ThanksFarmer Bobb in N.E. Washington Statenoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-24358587934609275382009-11-25T05:04:26.880-08:002009-11-25T05:04:26.880-08:00in another 5 years the general consensus of this p...<i>in another 5 years the general consensus of this population will be that government fouls everything that it touches,</i><br /><br />Right on. But in 5 years they will convince the sheeple that they need more control (and money) to repair the damage and corruption.Tyronehttps://www.blogger.com/profile/04226876002855072090noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-13248672368871804812009-11-24T20:15:33.685-08:002009-11-24T20:15:33.685-08:00yeah, stalled out on the freeway across all three ...yeah, stalled out on the freeway across all three lanes on a foggy, rainy slippery nite and everyone coming up on it is doing 80 mph.<br /><br />in another 5 years the general consensus of this population will be that government fouls everything that it touches, those in charge have no idea what they are doing, those that were in charge should be prosecuted and imprisoned and Congress are a bunch of prostitute politicians that sold out their country to big business and special interests and all belong in the hoosegow.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-61534633153275908282009-11-24T19:45:44.176-08:002009-11-24T19:45:44.176-08:00Hi Anon 2:28
At least two of us see through the s...Hi Anon 2:28<br /><br />At least two of us see through the smoke and mirrors.<br /><br />Sadly most people look at it as a health care issue. It is in part, the 23% of fixed budget costs for Medicare need funding.<br /><br />Congress is a bunch of conniving chicken thieves. They need a tax increase, and a big one. The trouble is, they have gone to the well one too many times, so they have nothing to lose for trying one more time.<br /><br />This health care plan is kind of like a car stalled out in the fast lane of the freeway at night. You know its going to get hit, you're just not sure when.<br /><br />Thank you for your commentsJim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-90229361794742748092009-11-24T14:28:33.197-08:002009-11-24T14:28:33.197-08:00The Health Care Bill as proposed is in reality a T...The Health Care Bill as proposed is in reality a Tax Bill, nothing more, nothing less. <br /><br />Oh, and Sen. Lieberman will vote to approve it, even though he says he will not.Anonymousnoreply@blogger.com