U.S. Could Pay Off Every Troubled Mortgage for 200 Billion: All Mtg's for 2 Trillion

GTS · Nov 25, 2008

Quote from ByLoSellHi:
U.S. Could Pay Off Every Troubled Mortgage for 200 Billion: All Mtg's for 2 Trillion

Where did you get your figures?

http://www.doctorhousingbubble.com/forum/viewtopic.php?t=85

http://pewsocialtrends.org/charts/?chartid=542&topicid=5

http://mwhodges.home.att.net/nat-debt/debt-nat-a.htm

From the last link:

In 2007 household debt increased 7% over the prior year to $13.8 trillion, incl. $10.5 trillion mortgage debt and $2.6 trillion credit debt.

achilles28 · Nov 25, 2008

Quote from GermanTrader:

But of course. Why else do you think one of the Fed cronies is going to be in charge of the Treasury in two months? Then, the Fed can order new currency be made available and print it, all in the same breath. Can you say I.N.F.L.A.T.I.O.N.? I wouldn't mind it so much but the powers that be endorsed globalist trading policies without tariffs, that fucked American workers, and for some reason their wages just haven't kept up with inflation, since 1970...

I know. Its completely fucked.

We're gonna see the US go into a major collapse within 10 years. Probably 5.

I can't believe this shit.

Honestly, people are so God-Damned ignorant, now-a-days. :mad:

achilles28 · Nov 25, 2008

Quote from GTS:

Where did you get your figures?

http://www.doctorhousingbubble.com/forum/viewtopic.php?t=85

http://pewsocialtrends.org/charts/?chartid=542&topicid=5

http://mwhodges.home.att.net/nat-debt/debt-nat-a.htm

From the last link:

I'm just talking defaulted mortgages.

If I'm not mistaken, that number is around 1 to 2 Trillion.

That's all thats needed. Assuming defaulted homeowners file for BK, we kick them out, most people maintain payments.

GermanTrader · Nov 25, 2008

Quote from achilles28:

I know. Its completely fucked.

We're gonna see the US go into a major collapse within 10 years. Probably 5.

I can't believe this shit.

Honestly, people are so God-Damned ignorant, now-a-days.

Well, not to worry. A phrase was invented when Gore lost the 2000 elections, and it is sure to be a popular out for all frustration by the masses, at anything that goes wrong from here on out...

"It's Bush's fault."

achilles28 · Nov 25, 2008

Quote from GermanTrader:

Well, not to worry. A phrase was invented when Gore lost the 2000 elections, and it is sure to be a popular out for all frustration by the masses, at anything that goes wrong from here on out...

"It's Bush's fault."

Lol.

yea, that'll get us through.

More WWF-style politics.

stock777 · Nov 26, 2008

Where does this 200 billion for every troubled mortgage figure come from?

Seems way too low .

NY0BScalper · Nov 26, 2008

Quote from stock777:

Where does this 200 billion for every troubled mortgage figure come from?

Seems way too low .

Haven't the total writedowns from financials because of subprime debt been in the trillions?

Trader666 · Nov 26, 2008

Earlier than that Paulson asked for a "bazooka" saying that just having it would be enough and he wouldn't need to use it. This mess gets worse by the minute.

If we ever did buy out the troubled mortgages, any deadbeat who failed because he was living beyond his means should be put in debtors' prison.

Quote from ByLoSellHi:

Remember how this began? The world was going to end within days if Congress didn't pass emergency legislation granting him authority to use 700 billion immediately, in any way the Treasury saw fit?

forextrades · Nov 26, 2008

Go ahead and bail out home-owners. If anyone accepts the bailout, it ought to effect their credit for at least 20 years.

Maybe then they'll learn a lesson.

bellman · Nov 26, 2008

It's a crazy, crazy world we live in. How much would it cost to build a new financial system, and allow the failed ones to fail?