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New restrictions on financing

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I forgot all the folks SOL on the mortgage front were just following our governments example...........:bang:


At this rate, the beaches may be getting cleaned up by folks who NEED those tents!
 
Capricious said:
More good news:

http://tinyurl.com/267s4n

Maybe a little interest rate bump?

When it rains, it pours
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I don't think they have the leverage they think they have and it sounds like a lot of political posturing but,
I don't want to be around when Bob reads this though..:leaving:
 
No, people have been warning for years about how much of us foreign countries own and how we'll be up the creek w/ no paddle if they ever call them in!
 
scooterbug44 said:
No, people have been warning for years about how much of us foreign countries own and how we'll be up the creek w/ no paddle if they ever call them in!
Click to expand...

Buggy, I don't like it either, but you don't think China wouldn't be hurt at all if our economy came to a screeching halting and no one could afford plasma tv's or they can afford for our dollar to drop:scratch:
 
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I think that if our economy came to a screeching halt China would welcome it as less competition for the raw resources they need to support their population.

I'm not saying that they will call in the markers, but they have one hell of a poker hand right now!
 
Time for a little conspiracy theory..:biggrin:

If I were wanting to be the world superpower, it seems that a good first step would be to make the current superpower highly dependant on me from a product standpoint. Then buy up a huge percent of their economy putting them in a precarious economic position. Attempt to secure management of existing entry points for importing into said superpower. Make trade deals with other countries to make sure I have enough oil to continue to develop as I see fit. And finally, do all these things while building a billion person military to defend my interests.

Has China done most of that, I think so...:shock:
 
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Mango said:
Buggy, I don't like it either, but you don't think China wouldn't be hurt at all if our economy came to a screeching halting and no one could afford plasma tv's or they can afford for our dollar to drop:scratch:
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People make irrational decisions every day; witness subprime borrowing/lending.

I do not presume to know if the leaders of China are rational.

What I do know is that we (U.S.A) have given them the option.
 
Mango said:
Buggy, I don't like it either, but you don't think China wouldn't be hurt at all if our economy came to a screeching halting and no one could afford plasma tv's or they can afford for our dollar to drop:scratch:
Click to expand...

In the short term, I think you would still have the same people that are getting the loans you are talking about say, "it will turn around" and just use credit. Keep in mind, there aren't many people who are still alive that went through a depression and many like myself were born and raised on credit cards... Sad but true. Budgeting and financial planning are not stressed to young people as much as it should be in my opinion, and I think these loans fed that "I want it now" mentality.
 
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