"bpuharic" wrote in message
...
On Wed, 21 Jul 2010 09:57:46 -0700, "Califbill"
wrote:



"bpuharic" wrote in message
. ..
On Tue, 20 Jul 2010 22:27:41 -0400, "D.Duck" wrote:


since it's a standard part of a loan applcation. that's when

been renting all your life, i see


I may be wrong but I believe 401Ks are untouchable in bankruptcy
proceedings. You may have to list them on a loan app but they are
untouchable to a loan holder.


unless, of course, you're able to waive that...which many middle class
people did since it was a source of wealth that the rich wanted to get
their greedy hands on.

If you could not afford the loan without your 401k money, buy a cheaper
house.

yeah i can see you're a renter and never bought a house

it doesnt matter whether or not you're usin it as collateral. the loan
company STILL wants to know what y our assets are

they SELL your loan to investors. the more assets you have, the better
your loan is and the more money they get for it.

There was no way, anyone making $50k a year could purchase a $500k
house. Maybe you were too dumb to realize that.

and you're too dumb to apply for a mortgage


And the only reason the
banks etc. were loaning money on that ratio was the government told them
to
and bought the loans from them.

more bull****. the govt never told them **** about the loans they had
to cover. wall street got greedy and set up loan companies to make bad
loans so they could package them, sell CDO's and clean up

there's a reason CDO's went from 1 trillion in 97 to SIXTY TWO
TRILLION in 2007

greed of the rich. it had NOTHING to do with the middle class

the middle class, having had static wages for 10 years, did the only
thing it could: borrowed.

The reason I own a million dollar house is
because of inflation. No way should my house be selling for a $1,000,000+
but that is what inflation and the government has brought us. Was a $36k
house in 1972. With a 450 addition and a pool which probably cost $5,500
to
build in 1974 the house would have valued at about $40k then. Now it is
25
times that value 36 years later. Way more than CPI indexed inflation and
that has been the measure for increased home value for all but the last 30
years.

you dont know **** about anything, let alone the middle class

I may be dumb, but not anywhere as dumb as you. I have bought several
houses, I own my house. No mortgage! My daughter bought her first place at
25 years old. She bought a condo in a very good area. As she knew she
could not afford a single family home on her income. I bought a business a
long time ago. I looked at the income and outgo and paid accordingly. They
look at your 401k as an example of are you thrifty and will pay the loan. I
grew up Middle Class. Mom was an RN, and dad was a machinist. Both
products of the Depression. If you could not pay cash, you did not buy
things. Very few things were financed. My mother never had a credit card
other than a gas company card. Did not have money to write a check for the
item or pay cash for it, do not buy it. I bet you run a couple thousand
dollar balance on your credit cards each month. You are dumb when it comes
to economics.

On Wed, 21 Jul 2010 21:36:49 -0700, "Califbill"
wrote:



"bpuharic" wrote in message


there's a reason CDO's went from 1 trillion in 97 to SIXTY TWO
TRILLION in 2007

greed of the rich. it had NOTHING to do with the middle class


you dont know **** about anything, let alone the middle class

I may be dumb, but not anywhere as dumb as you. I have bought several
houses, I own my house.

no one cares. you're not the entire middle class. you simply think
you're rich so it MUST be god on your side

go ahead. sell that attitude to the millions who cant make mortgage
payments, or lose their jobs.

On 22/07/2010 4:21 AM, bpuharic wrote:
On Wed, 21 Jul 2010 21:36:49 -0700, "Califbill"
wrote:



wrote in message


there's a reason CDO's went from 1 trillion in 97 to SIXTY TWO
TRILLION in 2007

greed of the rich. it had NOTHING to do with the middle class


you dont know **** about anything, let alone the middle class

I may be dumb, but not anywhere as dumb as you. I have bought several
houses, I own my house.

no one cares. you're not the entire middle class. you simply think
you're rich so it MUST be god on your side

go ahead. sell that attitude to the millions who cant make mortgage
payments, or lose their jobs.

Bill's stopy is not quique. Those that are "conservative" and don't
worship debt do far better than liberal debt mongers.

Thats a fact jack.
--

Government has liberals, idealists and lawyers, but where is the common
sense?

On Thu, 22 Jul 2010 06:42:39 -0600, Canuck57
wrote:

On 22/07/2010 4:21 AM, bpuharic wrote:
On Wed, 21 Jul 2010 21:36:49 -0700, "Califbill"
wrote:
s. you simply think
you're rich so it MUST be god on your side

go ahead. sell that attitude to the millions who cant make mortgage
payments, or lose their jobs.

Bill's stopy is not quique. Those that are "conservative" and don't
worship debt do far better than liberal debt mongers.

gee. that biggest spenders in history are conservatives.

"bpuharic" wrote in message
...
On Thu, 22 Jul 2010 06:42:39 -0600, Canuck57
wrote:

On 22/07/2010 4:21 AM, bpuharic wrote:
On Wed, 21 Jul 2010 21:36:49 -0700, "Califbill"
wrote:
s. you simply think
you're rich so it MUST be god on your side

go ahead. sell that attitude to the millions who cant make mortgage
payments, or lose their jobs.

Bill's stopy is not quique. Those that are "conservative" and don't
worship debt do far better than liberal debt mongers.

gee. that biggest spenders in history are conservatives.


Maybe previously, but the liberals in charge have spent more in the last 18
months than almost all the conservatives combined.

On Thu, 22 Jul 2010 10:07:32 -0700, "Califbill"
wrote:



"bpuharic" wrote in message
.. .
On Thu, 22 Jul 2010 06:42:39 -0600, Canuck57
wrote:

On 22/07/2010 4:21 AM, bpuharic wrote:
On Wed, 21 Jul 2010 21:36:49 -0700, "Califbill"
wrote:
s. you simply think
you're rich so it MUST be god on your side

go ahead. sell that attitude to the millions who cant make mortgage
payments, or lose their jobs.

Bill's stopy is not quique. Those that are "conservative" and don't
worship debt do far better than liberal debt mongers.

gee. that biggest spenders in history are conservatives.


Maybe previously, but the liberals in charge have spent more in the last 18
months than almost all the conservatives combined.

you DO realize that the spending in the first year of obama's
govt...was determined by george bush...bush raised the deficit to 9%
of GDP.

so, again, you give us proof of your racism

"bpuharic" wrote in message
...
On Thu, 22 Jul 2010 10:07:32 -0700, "Califbill"
wrote:



"bpuharic" wrote in message
. ..
On Thu, 22 Jul 2010 06:42:39 -0600, Canuck57
wrote:

On 22/07/2010 4:21 AM, bpuharic wrote:
On Wed, 21 Jul 2010 21:36:49 -0700, "Califbill"
wrote:
s. you simply think
you're rich so it MUST be god on your side

go ahead. sell that attitude to the millions who cant make mortgage
payments, or lose their jobs.

Bill's stopy is not quique. Those that are "conservative" and don't
worship debt do far better than liberal debt mongers.

gee. that biggest spenders in history are conservatives.


Maybe previously, but the liberals in charge have spent more in the last
18
months than almost all the conservatives combined.

you DO realize that the spending in the first year of obama's
govt...was determined by george bush...bush raised the deficit to 9%
of GDP.

so, again, you give us proof of your racism


And Obama has raised it to about 18%. We are borrowing about 40 cents of
every dollar of spending. How long you think that can go on. Cities and
states are in the same boat. Mostly because they promised pie in the sky
retirement benefits they did not fund. When a few large cities declare
bankruptcy, which is not out of the question, they may be few states,
California being the leader who default on their debt. How much do you
think we will have to pay to borrow that excess spending money? We will big
in the same boat as the PIIGS. Obama asked all of Europe at the G20 to
deficit spend our way out of the recession. HE WAS TURNED DOWN. We have
about 107 Trillion in unfunded mandates. Mostly SS, and Medicare and other
government retirement stuff. What is that 10x the GDP? Historically the
Fed has gotten about 18% of the GDP in revenue. No matter what the tax
rates. It is projected by a couple economists that by 2024 the average
worker will have to pay 62% of their wages to the Feds. How many will work
at the rate? How many will decide they can go on the dole and do about the
same?

On 22/07/2010 10:32 AM, bpuharic wrote:
On Thu, 22 Jul 2010 06:42:39 -0600,
wrote:

On 22/07/2010 4:21 AM, bpuharic wrote:
On Wed, 21 Jul 2010 21:36:49 -0700, "Califbill"
wrote:
s. you simply think
you're rich so it MUST be god on your side

go ahead. sell that attitude to the millions who cant make mortgage
payments, or lose their jobs.

Bill's stopy is not quique. Those that are "conservative" and don't
worship debt do far better than liberal debt mongers.

gee. that biggest spenders in history are conservatives.


Wrong, Obama in less than two years has overspent Bush in 8 year buy
THREE times the amount.

I suggest you read up on 1932, the second dip, the big second dip after
governmen then tried to buy its way out of debt.

I figure this winter is going to be a cold one for many.

--

Government has liberals, idealists and lawyers, but where is the common
sense?

On Thu, 22 Jul 2010 19:55:45 -0600, Canuck57
wrote:

On 22/07/2010 10:32 AM, bpuharic wrote:
On Thu, 22 Jul 2010 06:42:39 -0600,
wrote:

gee. that biggest spenders in history are conservatives.


Wrong, Obama in less than two years has overspent Bush in 8 year buy
THREE times the amount.

uh no. obama's 1st year in office had a budget designed by george
bush. bush increased the deficit to 9% of GDP. so bush is the big
spender


I suggest you read up on 1932, the second dip, the big second dip after
governmen then tried to buy its way out of debt.

yeah. let me know how letting the banks fail worked out, OK?


I figure this winter is going to be a cold one for many.

of course, the american right will ensure the rich do just fine

"bpuharic" wrote in message
...
On Wed, 21 Jul 2010 21:36:49 -0700, "Califbill"
wrote:



"bpuharic" wrote in message


there's a reason CDO's went from 1 trillion in 97 to SIXTY TWO
TRILLION in 2007

greed of the rich. it had NOTHING to do with the middle class


you dont know **** about anything, let alone the middle class

I may be dumb, but not anywhere as dumb as you. I have bought several
houses, I own my house.

no one cares. you're not the entire middle class. you simply think
you're rich so it MUST be god on your side

go ahead. sell that attitude to the millions who cant make mortgage
payments, or lose their jobs.

I am not rich. A long ways from rich. I do not own a G5 airplane, or a
mega yacht. Comfortable, but that is because I lived on 75% of my income
and saved the rest. You should be in the lower rich or the super
comfortable range. engineer and wife who is an attorney. My wife only
worked part time while the girls were in college. She was a stay at home
mom when they were in primary schools. 100's of thousands can not make
mortgage payments because they bought more house than they could afford!