The Quitter Economy

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  • Posted By: John Dough @ 01/28/2009 11:50:17 AM

    Harley had enough cause I can keep on going?

    • Posted By: Doc Howl @ 01/28/2009 1:24:24 PM

      Keep going with what? Posting lies from freerepublic.com?

      • Posted By: John Dough @ 01/28/2009 3:52:36 PM

        Free Republic uncovered the stories they are in the New York times and the Free Republic was not the source of my information they were quoted in the article. The best one of them all is on You Tube and almost brings a tear to my when I see Bill Clinton finally tell the truth he too says the blame lies with his party. Watch it

  • Posted By: neocon @ 01/28/2009 11:47:44 AM

    The grandiose Democrat spending plan is not going to stimulate our economy. It is, however, going to fulfill decades of Democrat dreams and schemes. It will make government more powerful. It will weaken the private sector. It will insure the reelection of Democrat officeholders for years to come. It will inevitably lead to massive tax increases which will harm, if not destroy, American private sector productivity. It will absolutely change the way your children and grand children live their lives. It will rob them of opportunity and lock them into a life of mediocrity in service to the all-powerful Imperial Federal Government of the United States.

    • Posted By: Paulj4422 @ 01/28/2009 2:53:37 PM

      I don't think it is taxes that are killing private sector productivity. I think what killed the private sector was greed and short sightedness among the CEO's, Asst VP's, brokers receiving bonuses, and the lobbyists and politicians who enabled them by looking the other way.

      The failure of the carmakers, the banks, and the entire wall street enterprise is the reason why most of us realize it is time for government to step in. At least if the congressmen don't get some sense in a couple of years we can vote them out.

    • Posted By: Doc Howl @ 01/28/2009 1:12:52 PM

      "It will make government more powerful. "

      Good thing the DHS Act didn't do that, right? LOL.

  • Posted By: John Dough @ 01/28/2009 11:38:12 AM

    Harley

    When do I get my apology the only ones re writing history are the democrats just check all the ones who voted for war in Iraq and later said they didn't then tried to say they voted to approve it but not to go to war. It was a war resolution. Remember Hillary dodging bullets in Kosovo give me a break the dems would and have denied the truth everytime they are confronted with it Watch Barney Frank's interview with O Reilly it is laughable how he tries to lie his way out of Fannie and Freddie but alass it is Bush's and the "REPIGS" fault

    • Posted By: Doc Howl @ 01/28/2009 1:14:18 PM

      " It was a war resolution."

      Actually, it wasn't. It was a resolution that unconstitutionally gave the decision of whether or not to go to war to the president. Every congressman, of either party, who voted for that should be stripped of their offices and sent home in disgrace.

  • Posted By: John Dough @ 01/28/2009 11:48:10 AM

    Harley are you there are you ready for more?

  • Posted By: John Dough @ 01/28/2009 11:45:26 AM

    Harley here is a couple more how much more truth do you want?

    But Democrats in Congress, also known as ???the caucus perpetually on the wrong side of history,??? were having none of this ???responsibility??? stuff.
    ???These two entities ??? Fannie Mae and Freddie Mac ??? are not facing any kind of financial crisis,??? said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ???The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.???
    Representative Melvin L. Watt, Democrat of North Carolina, agreed.
    ???I don???t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,??? Mr. Watt said.

  • Posted By: John Dough @ 01/28/2009 11:33:56 AM

    Harley I was wrong it was in 03 not 02. Read another one and weep!!
    A September 11, 2003 New York Times article shows that President Bush proposed ???the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.??? His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac.
    Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.

  • Posted By: John Dough @ 01/28/2009 11:29:33 AM

    Harley:

    You ignore all the other ones I send but I will find it Obama should have been left out of the 02 issue but he was in the thick of it in 05.

  • Posted By: ggllww @ 01/27/2009 6:19:14 AM

    I am curious as to WHY, a person needs to be in default, before they can receive any HELP?

    My wife and I have always paid our bills and on time! We live a very modest life, mostly within our means. We've been in our house for 17 years, never missed a payment, owe nothing to anyone except on the house. YES, we did take out an Equity loan and spent most of it on home improvements. At the time (2004) our house appraised at $236K. Now, sitting at $125K.

    We didn't go Hog Wild, we owe $142 between the 1st and the Equity line, thought we were WELL within our limits. Thinking ahead, we tried to ReFi this balance and was refused by BOA. They wanted me to pay down the amount ($42K) just to get the ReFi??? This ReFi would have dropped our monthly payment to just below $1000 from $1900 currently. BUT, so much for working with someone HUH!!!

    Facing an announced lay off come June, I will no longer be able to afford the $1900 a month and stand to loose the house. WHY would they not want to work with us and Keep us in the home? We already OWE the amount. Didn't ask to restructure(lower the principle) just to ReFi the amount?

    Now BOA is going to RUIN our Perfect Credit (both at 816), take our house, AND FOR WHAT??? We owe nothing to anyone else, just the mortgage any could afford to stay, just with the savings we have for up to 2 years, but the ReFi would double that and possibly carry us through these tough times?

    I just do not understand WHY I have to go Bankrupt to get anyone to help us ? It will take us YEARS to get our credit rating back to where it is? This nation does not need more Bankruptcies, it needs to help people BEFORE they get into this!

    With all the $$$ BOA has gotten from the FED's, are they not suppose to be helping people?



    • Posted By: John Dough @ 01/27/2009 8:35:51 PM

      The B.O.A. is in business to make money and you are making your payments which is good. Bank the money and skip one payment and see if they move to renegotiate. It is is their best interest to do so but remember if the fed keeps paying off their bad debts what is the incentive for them to do anything except forecloase and get your hoouse along with the money for your loan from the feds. That is why the first bailout shoould have been the only one to stabilize the banks and prevent a collapse of the ganking system. Now they are looking to the taxpayers to pay off their failed mortgages, seize property and re-sell it when things start to move again. They should be forced to allow you to renegotiate but it woon't happen. Sell your house if you can and start over. I feel for you because you did things right and it still caused you pain.

    • Posted By: PalmBeach50 @ 01/27/2009 7:51:49 AM

      I have to ask respectfully; You home dropped almost 50%, so you obviously purchased in the height of a baloon market, almost sounds like S.Florida. Your not laid off until June, (and thats a hell of a notice), according to your post it seems your obviously not planning on looking for a new job. Why?

      • Posted By: ggllww @ 01/27/2009 1:43:53 PM

        Yes, very few companies would give you such notice. We have been informed our jobs will be sent to Malaysia. I do intend on looking for work? Just with the economy the way it is, looking pretty SLIM, don't ya think? We are a few of the "Never say Die" type of folks. We gotten where we are with hard with and SAVING. My comment says we have been in the house for 17 tears....With one ReFi and the Equity loan, we felt very comfortable where we were, until all this. We were trying to get a jump on things in the event, we couldn't find work soon, and situate ourselves, without having to spend our retirement, on staying afloat the next 2-3-4 years. At 55 and 53, some medical problems and 2 children to send through School, seemed like a good idea.
        No an immediate problem, was more or less asking is WHY these Banks don't help people BEFORE Bankruptcy?

        They want my MONEY, my HOUSE and my Credit Rating, it appears???

  • Posted By: Thevail @ 01/27/2009 1:07:34 PM

    Oh He !! NO..you don't, MichaelX..

    Let's see the democrat has been president for six and a half days, and somehow this is HIS fault...not the loony republican corporate socialists who told these companies that they didn't need to have actual money..just checks?!

    The same "war on the working class" republicans that have kept wages absolutely stagnant or actually going downwards for the last 8 years. While housing, food and gas prices went sky high...

    If you're broke, lost your business, or out of a job..blame the republicans..all of them.

    • Posted By: John Dough @ 01/27/2009 8:21:17 PM

      The democrats have been in charge having the presidency and or the congress all but 4 years since 1932 and the GOP is to blame for this mess. he so called great society programs have bled our nation dry and have not reduced the poverty level or improved the ;ife of anyone. What it has done is made massive segments oof the populatioon dependent on govt handouts to survive and they now demand it. It is slavery without the whips and chains but it bondage just the same. Except those who are truly disabled all social programs excluding SS retirement and medicare should be phased out. It sounds cruel but the eneviablility is that it will happen anyway and then there will be riooting and widespread panic.

    • Posted By: John Dough @ 01/27/2009 2:03:30 PM

      Thevail:

      This issue cuts across both party lines and blaming Bush and the GOP is just a whiner's way out. Dodd, Kerry, Kennedy, Obama and Frank blocked Bush's attempts in 2002 to address concerns on Freddie and Fannie. In 2005, Mc Cain sounded the alarm too and was shut down. As early as this summer Frank said they were on solid financial ground and there was nothing to worry about. This global meltdown occurred in part because no govt. lives within its means and the same applies to many Americans buying more home than they could truly afford, over extending their credit and expecting things to go along like they had been going. The problem is this type of activity was going on globally and it blew up and snowballed across the world. This had little to do with Bush's policies or tax cuts it has everything to do with living within your means both as a govt and an individual and until our govt makes massive spending cuts this problem will cycle its head about every 8 years as it has been for nearly 5 decades now. This time however it went global

  • Posted By: mikeydidit @ 01/27/2009 5:29:33 PM

    I've been through many devastating situations with my business and life, but you know what, I never quit. I sure wanted to many times. I never asked for money to help defer costs, but I can do that because since 1987 I've been a solo act. Before that I had 2 auto body shops, a commercial painting biz, a classic car resto shop and never borrowed even then. By becoming resilient to what happens around me, I've learned the art of hustlin', survivin' and fightin' for what I believe in. For 33 years I've made it in one way or another no matter the economy. It is tough, but if you don't fiugre out what it takes to survive by doing spmething diifferent to take control of the problem, money or not, you'll die a slow painful death. Too many entrepreneurs, like morgagees, borrowed too much and are now finding out they should have considered the consequences if they cannot pay it back. We need is to turn this country a network of inner-connected business owners and supprt each other instead of waiting on the feds to help. In my line of business, there xists millions of people who support each other in the industry. During bad times we know how to cut back and treat each other with respect by working with them so we can at least keep some money flowing. We might complain about the aconomy a bit, but after the fact we figure out how we can afford to patronize each other financially. It works.
    Mikey
    www.HotRodConsulting.com

  • Posted By: John Dough @ 01/27/2009 3:50:53 PM

    Part Two:
    12. Require congress to vote for any annual increases for their pay and benefits and require a posting of the voting.
    13. Require the federal government to reduce the federal work force by 10% in the next four years.
    14. Require all congressmen to reduce their staff and salaries 10% now and an additional 10% over the next four years.
    15 Require the federal government to reduce the federal work force another 5% within 8 years.
    16. Eliminate the monopoly the public school system has on education and require tax dollars to go to private schools in competition and/or allow parents who send their children to private school 100% tax free tuition credit.
    17. Require every citizen receiving federal aid to have legal and valid identification, and bank accounts for direct deposit of all federal benefits tied to their id and SS #.
    18. Anyone caught committing welfare, Medicaid, Medicare or any fraud on the federal government will have their assets seized and sold to recover fraud. Physicians will lose their licenses to practice medicine, lawyers to practice law and citizens the right to vote or receive any federal aid in the future.
    19. Anyone voting more than once in an election will be stripped their U.S. citizenship and required to re-apply to be a citizen and pay for the privilege to do so. (Voting is a sacred right and should be treated as such)
    20. Anyone caught voting who is not eligible (felons, illegal aliens etc...) will be deported to any country that will except them and never allowed to return to the United States.
    These items are just a good start and should be implemented ASAP. Of course I would not expect felons, illegal aliens, illegal voters, welfare recipients, Drs., Lawyers and of course congress to support any of these because it would take some backbone and character to implement them.

  • Posted By: John Dough @ 01/27/2009 3:49:54 PM

    Part One:
    Our government needs many things but the best place in my opinion to start is:
    1. A balanced budget amendment that requires equal amounts of spending cuts to any tax increases.
    2. Term Limits of 12 years for Senators and Representatives. (Switch to 3 yr terms for Reps.)
    3. The elimination of party affiliations for all Judges particularly federal judges.
    4. No Court Legislation from the Bench- rather a call to the Legislative body to make changes.
    5. Paring down of SSI coverage that has made otherwise able bodied person???s lifetime recipients??? of benefits.
    6. Reducing welfare to an 8 year program and payments to a maximum benefit for a family of five.
    7. Eliminating all social security payments to anyone with over 5 million in assets and prorating those under that to pre-determined cap level.
    8. Eliminating all benefits for illegal aliens including education benefits.
    9. Eliminating the constitutional provision saying all those born in the United States are U.S. Citizens. Non-resident, illegal alien children would not be eligible to be American citizens until adulthood.
    10. Limiting the annual number of aliens allowed into the United States.
    11. Eliminating lifetime pensions and health care to elected officials having over 5 million in assets and requiring all elected officials to pay partial premiums, deductibles and co-pays on their insurance programs. Eliminate all free services to those in government i.e. free health club memberships, free haircuts, shoe shining, dry cleaning etc... pay like everyone else has to pay.

  • Posted By: chris s. @ 01/26/2009 5:43:07 PM

    Poor John, sounds like you are going to blow a gasket. Nothing is going to make you happy. When the republicans were in power you were angry. Now that [not your party] is running the show,yes, you really are spouting hate. Do you get it, that if Obama fails. so does your country? Just like Limbaugh, you are willing to cut off your nose to spite your face, just so you can say 'I TOLD YOU SO." But then I would imagine you consider yourself more patriotic than thou. Just cool it and try doing something constructive, instead of espousing all this anger? Where were you and all your great ideas 4 or 8 years ago? You do realize, that Bush is the one who spent the surplus then borrowed and borrowed some more,to put us in this debt. Like charging up that credit card, of which you speak. And for what? A war! The military is part of that huge government you are speaking of. We already know how efficient they are. I know I'm just another ignorant dem;but how much do you think this war is costing us in not just money but maybe lives too. Have you lost a loved one in the war? I have. If it happens to you, I guarantee, it'll put a different spin on things.

    • Posted By: John Dough @ 01/27/2009 2:17:54 PM

      I supported the Bush tax cuts but not Bush's spending. He spent like a liberal democrat. In fact he became a democrat in 2007 with his wild spending and the gluttonous congress wnet along with it and wanted more. This isn't a GOP/DEM issue it is a matter of fiscal retraint. The closet we've come to that since 1930 was the GOP congress under Clinton. The rest has been an I can out spend you at every turn govt. making more and more Americans dependant of govt. for daily sustenance and it is destroying our nation, financiallly, socially ,morally and we sit and say its his fault and blame. Wake up and demand something from these clowns in Washington.

  • Posted By: Wayne E. @ 01/26/2009 1:38:36 PM

    Well they have already stole our tax money (which they put on a credit card in our children's name) and gave it to the financial criminals... Now with our stolen tax money corporations are becoming larger monopolies which they call global and competition no longer exist...

    • Posted By: gspencer4 @ 01/26/2009 2:53:08 PM

      US government does not go to banks to borrow money. The US government just buys a lot of paper and cranks up the presses to create more dollars, T-Bills, Government Bonds, etc. to pay for these pork barrel projects, negative balance of trade, government payrolls, bailouts, entitlements, operations, social schemes, wars, new infrastructure, wealth re-distribution, mental health, and etc. This policy will see the buying power of our dollars diminish until a loaf of bread costs $200 (or maybe $20,000). There is (probably) a limit to the amount of paper dollars that the foreign country manufacturing people and the foreign country raw material supplying people will continue to accept in payment. This limit will become apparent as soon as foreigners own everything of value in the USA and nothing is left that the foreign dollar holders want to buy with their paper dollars. This is selling of our children's legacy to foreign owners, and the US government calls it "Investing in America".

      • Posted By: Willian C DeMuth @ 01/27/2009 1:24:22 PM


        You don???t truly believe a hyper inflationary spiral could impact the United States alone do you?

        We are not the Weimar Republic, we have not been disarmed.

        With history as my witness you aren???t foolish enough to believe that we wouldn???t move further to the right and simply take what we needed?

        We haven???t invested trillions in our nuclear stock pile for nothing!

        While no one can guarantee the world as a whole won???t starve, it is absurd to think even for a moment that America will hesitate to use force if required to take whatever we need and tons of stuff that we want.

        Just ask the native peoples, if you can find any that are still alive.

  • Posted By: scoff60 @ 01/26/2009 6:13:07 PM

    Here we go again, Pres Obam poor ol'obama inherted such a mess (some truth for his and say his congress)now Iwant him to vote present. Yup time to step up Pres. are you upto the Job, Gitmo is least of our Problems, do you really know where your at. Just another ol'neo-con waiting to say we don't know this man, Hillery would of been better, but he rigged the Demo system to his advantage. Let me hear a big yes we can.

    • Posted By: Thevail @ 01/27/2009 1:18:14 PM

      Hee hee..much to your everlasting annoyance..YES WE DID!
      And now, I'm going to keep working, and so are all my friends..to make sure that the economy does get better under Obama..It pretty much has to anyway, it's so bad right now. And then he'll be a hero..and you'll be even more annoyed. And we will still be laughing.

      And the silly republican cave trolls will get even more socialy conservative and we will leave them behind..it's already started. They're like the Whigs and Torys now..no one cares. They are the party of NO IDEAS with the philosophy of "on the backs of the working class" corporate socialism. Privatize the gains when the economy is good and pass the deb to tax payers when the economy is bad. In case you're about say..that isn't true..then why did George Bush God of the neo-cons nationalize the banks..

      Republicans think they can lower taxes and pay for a war..why not..it never comes out of their pockets..it comes out of yours.

  • Posted By: pusscat @ 01/27/2009 6:54:13 AM

    A lot of people have been pushed to the point of hopelessness. There are lots of stories of $10 an hour people buying $500K houses, but there are just as many people who bought 'within their means' that got scammed into ARM's or have had a medical issue, lost job, etc.
    Now the banks are crying that they can't get their money. Well, I happen to know that a large percentage of credit card defaults have been CAUSED by the very banks that are crying. Raise the interest rate by 300%, triple the minimum payment and now none of it goes to principal. Why pay at that point? I can name 10 people off the top of my head that did give up. $4000K balance, at 7% had a chance of paying off the debt. $4000K at 36%? Why bother?
    And no, there was no missed payment on anything. The credit card companies call it 're-evaluation of credit terms'. I call it pushing the default rate higher on purpose.

    • Posted By: Paulj4422 @ 01/27/2009 11:08:08 AM

      It would be interesting to see what would happen if there was a reasonable cap put on credit card interest rates, and focusing on mortages that were reasonable in the first place. What are the things that can be done for average people, average parents, average grandparents? You are absolutely right, there is something wrong with banks charging "interest" rates of 20 and 30% when the real cost of interest is almost zero

  • Posted By: scoff60 @ 01/26/2009 6:15:13 PM

    Come on all you libs tell me I'm wrong, waiting,

    • Posted By: Doc Howl @ 01/27/2009 9:09:57 AM

      Why bother? It's not like your opinion has any value outside of your own head.

  • Posted By: Tea6 @ 01/27/2009 7:53:36 AM

    Americans are being laid off and corporations are still allowed to DEDUCT FROM THEIR TAXES the costs of employing illegal workers and H1B visa holders. If companies want to deduct labor costs, they should have to prove, through E-Verify that the employee is an American citizen.

  • Posted By: Vigilance @ 01/26/2009 10:28:19 PM

    I haven't given up and neither should anyone else. We have a beautiful country and I aim to work hard to keep it that way.

  • Posted By: John Dough @ 01/26/2009 3:26:25 PM

    Here you go Harley read it and weep
    07-30-08

    The Star Bulletin, a Hawaii newspaper, reporting on Obama's speech at a convention of minority journalists in Chicago, quoted him as saying that the U.S. has to accompany words about its "tragic past" with actions including reparations. The audience gave him an enthusiastic reception, including a standing ovation. That is the kind of speech he feels comfortable giving before a friendly (should we say 'adoring') audience. He did the same kind of thing during the primaries when he addressed well-heeled liberals in San Francisco and put down working class Americans as ignorant bigots. I don't expect him to trot out his support for reparations for the general electorate.
    Obama, Reparations and Big Government, Part II [Peter Kirsanow]
    Another Obama statement that has received scant scrutiny was contained in his July 2 speech calling for "a civilian national security force that's just as powerful, just as strong, just as well-funded [as the military]."
    Once more, members of the media haven't pressed for details. Taken at face value, it would seem Obama is calling for a huge expansion of government, regardless of the form of his "national security force."
    Again, giving the most charitable interpretation to Obama's proposal, it's likely he's calling for more/larger AmeriCorps-type programs as opposed to a CTU on every corner. Nonetheless, to be as big and well funded as the military, Obama's program would have to employ more than 2.5 million people with a budget of over $500 billion.
    Obama has proposed the largest peacetime expansion of government in history and the media yawn. He's not running for Make-Believe President. Do they take Obama seriously?

    08/05 12:00 PM

    • Posted By: chris s. @ 01/26/2009 10:06:03 PM

      Are you weeping, Harley? Doubt it. If John says it, it must be so. What a great conspiracy theorist he is.

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