This post happened BEFORE mine that I cite Recession and Depression... Now, care to tell me who used the term first again?
On Sep 16, 6:42 am, Frank <[EMAIL PROTECTED]> wrote: > No it doesn't, it means another family is thrown on the street, which > becomes a drain on government services. How many job losses so far > this year 700,000, with thousands more acknowledged to be lost just in > the finance industry because of today's crash. Every job lost means > another job lost in an affiliated industry meaning less money to > spend, leading to further business down turn, leading to more layoff > leading to more defaults. With "at least" another 5 million home > default expected by 2012 how many more families will end up on the > street or relying on welfare? Debt doesn't disappear, someone must pay > and it is ALWAYS the worker that get stuck with the bill.. > > Go to this site Gaarhttp://mwhodges.home.att.net/nat-debt/debt-nat.htm. > It will give you all the info you need, it is very comprehensive. He > is a believer in the free market, Milton Freidman and Ludwig Von > Mises, who I think are imbeciles. Nevertheless, this guy is very > worried about the US debt situation and has gone to a great deal of > trouble compiling data from the Fed Bureau of stats to warn Americans > of the gravity of this problem. > > Its no good telling me to keep a perspective on things when capitalist > economists are predicting as Greenspan said "a once in a hundred year > recession". He said that, not me. You need to come to grips with what > is really occuring. Go to bloombergs now, see for yourself. > > On Sep 16, 11:12 pm, Gaar <[EMAIL PROTECTED]> wrote: > > > > > Frank, > > > What you fail to realize is that with each Foreclosure, that number > > changes, for the better. > > > The reason it got so bad was because of these bad Loans, and once they > > work their way out of the System, we are heading back up. > > > Yes, there may be as many as 5% - 7% of Total Mortgages that may end > > up being affected, overall and those are going to take a bit to work > > through.. > > > But may I remind you that means that at LEAST 93% will in FACT > > continue to pay their Mortgages on time without problems. > > > During the Great Depression, that number went up to well over 50%. > > > So let's try to keep a bit of perspective on this, shall we? > > > On Sep 16, 6:07 am, Frank <[EMAIL PROTECTED]> wrote: > > > > Gaar, > > > > The main concern with the debt is not the collateral, it is the > > > ability to service it. Last year US debt grew 5.5 times that of GDP, > > > meaning America can not keep up with current debt repayments and > > > requires one trillion in loans per annum to finance debt, further > > > compounding the problem. I can't remember the precise figure (do a > > > google search), but the average US household debt is over 100% of > > > income over per annum. Any collateral they have is owned by finance > > > companies. > > > > On Sep 16, 10:47 pm, Gaar <[EMAIL PROTECTED]> wrote: > > > > > Perhaps those who have been railing on about this would be good enough > > > > to also tell us how much "Net Worth" JUST American Households have, > > > > not including the Net Worth of our Governmental Assets?!?!?!?!? > > > > > Anyone?- Hide quoted text - > > > > - Show quoted text -- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
