Quote:
Originally Posted by Alex
Worthless, emotional, financial pornography. The media hype makes normally rational people make irrational financial decisions. Ask yourself, What has really changed? Gas prices have finally gone up to match inflation? It was inevitable wasn't it? Some speculators overextended themselves and bought more house than they can afford - so now they'll lose their homes - were people losing their homes before? Dah! of course they were. So seriously - why is it worse this time? The answer is - IT IS NOT WORSE. It is hype.
As for your insistence on calling the current economic climate "a recession" - if you want to you can call a kitten a dog - go ahead, knock yourself out. It doesn't change the fact that we are not in a recession - we have economic growth. Sorry if those facts don't jive with your emotions - but facts are kinda tricky that way.  |
Wow, I am so insulted.
Well, not really.
Emotions are the one thing I leave out of financial discussions.
I like facts, as you seem to like as well.
You claim it is not worse the people losing their homes. That is so wrong, i do not even feel like bothering to post all the info which says you are wrong, but I will.
Have you ever typed the words "RECORD FORECLOSURES" into GOOGLE?
No, obviously you haven't.
If you only use Google news, here is the first page of hits..........
First quarter saw record foreclosure rate, report says
TheNewsTribune.com, WA - 23 hours ago
The latest foreclosure report from the Mortgage Bankers Association created a stir this week, but I wanted to get the local stats before I passed along the ...
Record foreclosures won't ease soon Hartford Business
Record foreclosures strain social services WTTE
Despite Interest Rate Cuts, Foreclosures Hit Record High Washington Post
Boston Herald - Los Angeles Times
all 906 news articles »
Record foreclosures strain social services
International Herald Tribune, France - Jun 5, 2008
... a record 6.4 percent of homeowners were at least one payment behind on their mortgages in the first quarter, and a record 1 percent were in foreclosure. ...
Record foreclosures strain social services
WAND, IL - Jun 5, 2008
AP - June 5, 2008 5:24 PM ET CHICAGO (AP) - Social service providers are feeling the weight of the US foreclosure crisis on a daily basis. ...
Record foreclosures strain social services WPSD
all 4 news articles »
The Associated Press
Foreclosures hit a record high _ and more coming
The Associated Press - Jun 5, 2008
WASHINGTON (AP) — The foreclosure hammer is hitting ever harder. People lost their homes at the highest rate on record in the first three months of the year ...
Home foreclosures set record in first quarter
The Associated Press - Jun 5, 2008
WASHINGTON (AP) — Home foreclosures and late payments set records over the first three months of the year and are expected to keep rising, stark signs of ...
Commercial Connection: Florida's 'judicial foreclosure' policy ...
The News-Press, FL - 2 hours ago
The foreclosure complaint is the "suit." The lender will also record a "lis pendens" in the public records of the county in which the property is located, ...
Home foreclosures set record in first quarter
The Associated Press - Jun 5, 2008
WASHINGTON (AP) — Mortgage bankers say home foreclosures and late payments set records in the first three months of the year. ...
'A new sense of desperation in the people we're seeing'
Minneapolis Star Tribune, MN - 4 hours ago
Food shelf visits and mortgage foreclosures -- both sharply on the rise -- are "leading indicators" of a bigger picture, said Dakota County researcher Jane ...
Center helps rescue West Palm residents from foreclosure
Palm Beach Post, United States - 4 hours ago
The rate of foreclosures and late mortgage payments was the highest on record since 1979, the report said. Foreclosure counselor Michelle Mays has seen it ...
WBT
Foreclosures hit a record high - and more coming; Bank of America ...
Austin American-Statesman, TX - Jun 5, 2008
WASHINGTON — People lost their homes at the highest rate on record in the first three months of the year, and late payments soared to a new high, ...
Foreclosures soar...Severe storms warning...Bystanders did call ... KXMC
Business Highlights Forbes
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You are so full of it, you probably don't even realize how full of "it" you are.
You are a typical American. You believe what you want to believe, no matter what the facts are.
Oh, we are not in a recession because the official definition of a recession is blah, blah, blah.
So typical it makes me want to puke.
What I posted above was only the FIRST PAGE OF HITS.
I could go on, heck maybe I will.
Did you ever type these words into Google......"Record Debt"
No, obviously you haven't.
If you did type those words into Google news this is the first page of hits.........
Primary credit borrowings ease from record - Fed
Reuters India, India - Jun 5, 2008
Primary credit borrowings were an average $15.92 billion per day for the week ended June 4, slightly down from the record $15.95 billion per day the ...
Ahead of the Bell: Consumer Credit Forbes
Consumer borrowing rises at slower pace in April The Herald-Times (subscription)
UPDATE 1-Primary dealers cut Fed borrowing after quarter-end Reuters India
all 257 news articles »
WBT
Global Economic Meltdown
Piter Indymedia, Russia - Jun 6, 2008
Many consumes, now deeply in debt, will use rebates to pay off record debt. Perhaps only a third of the $168 billion will constitute actual new consumer ...
Business Highlights Forbes
Musical Chairs. Who Will Be Out Next? Greene County Daily World
all 724 news articles »
Citizen
Credit Debt Rises With Recession Fears
Forbes, NY - Jun 6, 2008
Stone said economic recovery is difficult to predict at this point but that a turnaround is unlikely if oil prices remain at record highs. ...
Record Unemployment Should Be a Clarion Call for Action Center For American Progress
Jobs Down For 5th Month; Oil’s Rise Adds To Gloom Neftegaz.RU
all 593 news articles »
Gas bills to soar by another 40pc
guardian.co.uk, UK - 8 hours ago
The debt charity, the Consumer Credit Counselling Service, said it had seen a huge increase in the number of over-60s seeking advice and even being pushed ...
Book Review: How to Get Out of Debt by Jerrold Mundis
CityWire.co.uk, UK - 8 hours ago
The first step to getting free of debt is having a spending record. How to Get Out of Debt shows you how to draw one up and maintain it, so you will never ...
The Money Times
MBIA, Ambac, $1 Trillion of Debt, Lose S&P AAA Rating (Update3)
Bloomberg - Jun 5, 2008
Ambac, which fell 17 percent to a record low yesterday, was 13 cents higher at $2.62. The cuts follow an announcement from Moody's Investors Service ...
Moody's sees record Q2 US corporate downgrade reviews Reuters
Downgrades of Monoline Bond Insurers AMBAC and MBIA- The Story No ... The Market Oracle
AHEAD OF THE TAPE Wall Street Journal
Barron's Blogs - Bloomberg
all 300 news articles » MBI - ABK - MSM:FINC
Mutual Fund AUMs at record highs on debt
Moneycontrol.com (press release), India - Jun 6, 2008
According to Mr. Krishnan Sitaraman, Head, CRISIL FundServices, "Weakness in equity markets meant that debt funds continued to out-perform equity funds in ...
Javno.hr
US needs Hoosier frugality to get out of depths of debt
Indianapolis Star, United States - Jun 5, 2008
... $1085 to pay the interest on our national debt. It is true that the Bush administration inherited record surpluses and has plunged us deep into the red. ...
Bush Urges Congress to Approve War Funding Voice of America
Democrats Support Middle-Class Tax Relief, Bush Republicans Call ... Trading Markets (press release)
Senate approves stand-pat Democratic budget plan The Associated Press
United Press International - Heritage.org
all 724 news articles »
Home ownership at record levels: census data
CTV.ca, Canada - Jun 4, 2008
"Low mortgage rates have helped offset much, but not all, of the impact of rising house prices in recent years on mortgage debt-service costs,'' Bertrand ...
Boomers own more homes and owe more than ever before Globe and Mail
all 88 news articles »
Moody's debt downgrade reviews could hit record
SmartBrief, DC - Jun 6, 2008
Moody's Investors Service says it may place a record $772 billion in US corporate debt on review for downgrade this quarter. Companies whose bonds may be ...
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