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Milkman · 03-07-2008, 07:56 AM

Southern California and Miami are seeing a drastic foreclosure. I still have no sympathy for people who borrow money they can't pay back. Storekeeper, you around?

Quote:

Analyst sees 'ghost town' in Inland Empire

A financial analyst fresh from a tour of construction sites in the Inland Empire is warning Wall Street of a "ghost town" where finished homes sit vacant and additional homes are still under construction.

"At several properties, there were a significant number of fully built homes sitting vacant along with a large number of additional homes still under construction," Sandler O'Neill & Partners analyst Aaron Deer wrote today after touring developments in Corona and Ontario. "At one master plan community, the entire development appeared to be vacant -- with the exception of crews working on new construction, it was a ghost town."

Median home prices in both communities have dropped sharply over the last year, declining 33.6% in Corona and 30.3% in Ontario, according to DataQuick Information Systems. In Corona, the median sales price fell nearly $200,000 from May 2007 to May 2008, dropping from $565,000 to $375,000.

More from Deer's note: "The homes all appeared to be empty, and there were no prospective buyers anywhere to be found. Surprisingly, the sales office was open ... but the woman working there had questionable English fluency. When asked how many homes had been sold in the past month she simply responded, 'Uh huh. Thank you. Yes!' and handed us some additional literature on the property."

More: "Perhaps the most interesting aspect to the development was what it revealed about the nature of the housing boom: that at the peak even the most undesirable and remote locations were worthy of expensive, high-end homes."
Overall, Deer's note on the California economy -- and the relative health of California-based banks and thrifts -- strikes a balanced

chord, reporting that, while the "outlook remains gloomy," "the pace of new problems has slowed somewhat."
Other highlights:

"Not surprisingly, the banks said they are seeing continued deterioration in their single-family residential construction portfolios."
"In areas where developable land is scarce, namely San Francisco and west Los Angeles, markets are still holding up. Several banks noted very little, if any, deterioration in credit quality in these markets. Specificially, residential construction projects in San Francisco ... and western Los Angeles (mostly teardown/rebuild projects) are seeing stable prices despite slower activity."

Link: Analyst sees 'ghost town' in Inland Empire | L.A. Land | Los Angeles Times

blackgang · 03-07-2008, 08:39 AM

how about this shit then my friend. Links are included.

You think the war in Iraq is costing us too much? Read this: Boy am I confused. I have been hammered with the propaganda that it is the Iraq war and the war on terror that is bankrupting us. I now find that to be RIDICULOUS. I hope the following 14 reasons are forwarded over and over again until they are read so many times that the reader gets sick of reading them. I have included the URL's for verification of all the following facts.
1. $11 Billion to $22 billion is spent on welfare to illegal aliens each year by state governments. Verify at: FAIR: Immigration and Welfare
2. $2.2 Billion dollars a year is spent on food assistance programs such as food stamps, WIC, and free school lunches for illegal aliens. Verify at: http://www.cis..org/articles/2004/fiscalexec.html
3. $2.5 Billion dollars a year is spent on Medicaid for illegal aliens. Verify at: http://www.cis..org/articles/2004/fiscalexec.html
4. $12 Billion dollars a year is spent on primary and secondary school education for children here illegally and they cannot speak a word of English! Verify at: http://transcripts.cnn.com/TRANSCRIP.../01/ldt.0.html
5. $17 Billion dollars a year is spent for education for the American-born children of illegal aliens, known as anchor babies. Verify at CNN.com - Transcripts
6. $3 Million Dollars a DAY is spent to incarcerate illegal aliens. Verify at: CNN.com - Transcripts
7. 30% percent of all Federal Prison inmates are illegal aliens. Verify at: CNN.com - Transcripts
8. $90 Billion Dollars a year is spent on illegal aliens for Welfare & social services by the American taxpayers. Verify at: http://premium.cnn.com/TRANSCIPTS/0610/29/ldt.01.html
9. $200 Billion Dollars a year in suppressed American wages are caused by the illegal aliens. Verify at: CNN.com - Transcripts
10. The illegal aliens in the United States have a crime rate that's two and a half times that of white non-illegal aliens. In particular, their children, are going to make a huge additional crime problem in the US Verify at: CNN.com - Transcripts
11. During the year of 2005 there were 4 to 10 MILLION illegal aliens that crossed our Southern Border also, as many as 19,500 illegal aliens from Terrorist Countries. Millions of pounds of drugs, cocaine, meth, heroin and marijuana, crossed into the U. S from the Southern border. Verify at: Homeland Security Report: http://tinyurl.com/t9sht
12. The National Policy Institute, "estimated that the total cost of mass deportation would be between $206 and $230 billion or an average cost of between $41 and $46 billion annually over a five year period." Verify at: http://www.nationalpolicyinstitute.o...eportation.pdf
13. In 2006 illegal aliens sent home $45 BILLION in remittances back to their countries of origin. Verify at: Wooldridge - How Much Further Into This Nightmare?
14. "The Dark Side of Illegal Immigration: Nearly One Million Sex Crimes Committed by Illegal Immigrants In The United States." Verify at: http://www.drdsk.com/articleshtml The total cost is a whopping $ 338.3 BILLION DOLLARS A YEAR. Why are we THAT stupid? If this doesn't bother you then just delete the message. If, on the other hand, if it does raise the hair on the back of your neck, I hope you forward it to every legal resident in the country including every representative in Washington, D.C. - five times a week for as long as it takes to restore some semblance of intelligence in our policies and enforcement thereof.

"Madam, we have given you a Republic, if you can keep it!" â Benjamin Franklin (1787)

bkkandrew · 03-07-2008, 01:11 PM

^Surely the solution to your rant would be to withdraw all the troops from Iraq and have them patrol the borders of the US and roam the country rounding up all these 'aliens'.

Or is this too obvious?

AntRobertson · 03-07-2008, 03:32 PM

^ Exactly. With all the heightened security and such post-9/11 it is a little odd that the boarder with Mexico is still so open. It's almsot as though it somehow benefits to have illegal immigrants 'slipping through'.

chinthee · 04-07-2008, 06:41 PM

^In fact, it is a great 'safety valve' for Americans, providing all the labour that Americans don't want to do for such low wages. Very similar to the Burmese here in Thailand. I don't look for much crackdown in spite of all the rhetoric by the politicians.

bkkandrew · 05-07-2008, 04:55 AM

^Tell that to Blackgang. Go on I dare you. Tell 'im!

blackgang · 05-07-2008, 12:42 PM

Quote:

Originally Posted by bkkandrew

^Tell that to Blackgang. Go on I dare you. Tell 'im!

Tell me what dickhead, I have known this for many years, and it was mainly NAFTA that brought it about, before that it was bad and had been getting worse sine 1949 and people looking the other way.
But it has got so bad now that ER's are closing because of the Mex idea that you have to go to a hospital when ever anything is wrong, same as in Thailand, and it has broke the Emergency Medical infrastructure in the USA so now millions of needy people set for hours waiting while a bunch of spiks get their nose looked At while mentally disturbed people set waiting for hours to See a nut cracker or get a referral.

Quote:

Originally Posted by chinthee

In fact, it is a great 'safety valve' for Americans, providing all the labour that Americans don't want to do for such low wages.

In Fact you are full of shit too,, Americans are getting some things done at a lesser price, but still if it were not for the Greasers doing it for less, the Americans would be paying a fair wage to have it done correctly, Just like some fa rang here, will Jew a few Thai down from their asking price to half that and then get a shitty job done.
But it makes no difference to the main subject, either you give them some work or they will steal everything you have and rape your wife, daughter and son if he is handy, there are illegal aliens we are talking about, who just happen to be criminals on the loose in your country,
So use any excuse that you want to, but you are making it so your country is overran with criminals and you are paying , not only in cash money but in govt aid that was payed for by out for the underprivileged in your own country and the accident victims in your society and are handing it freely to criminals that have invaded your country and are diminishing your welfare programs and EM treatment facilities.

blackgang · 05-07-2008, 12:56 PM

Quote:

Originally Posted by bkkandrew

^Surely the solution to your rant would be to withdraw all the troops from Iraq and have them patrol the borders of the US and roam the country rounding up all these 'aliens'.

Before a bunch of Furiners start or continue to come on US Issues and tell Americans what to do and not to do, what you should do first is familiarize your selves with what is legal and what is not legal to do with the military of the united states and what we can do as citizens, like the stupid thread about it being necessary to have a military background before being elected as Pres.
There are a few documents that you should familiarize yourselves with before giving such bullshit advise,, Check out the Constitution and the Bill of rights and they will answer most of the stupid questions that you Brits or Dependants of Brits ask, and give you the answers before making yourselves look so fucking stupid.

bkkandrew · 05-07-2008, 01:42 PM

^In real life do you sound like you write, or do you just type how you would talk?

Panda · 05-07-2008, 02:00 PM

A lot of Mexicans still regard those South Western US states the USA "purchased at the point of a gun" in 1848 as Mexican territory. The deal was that Mexico ceded the territory USA wanted or the USA would annex the whole of Mexico. So the Yanks gave them $15 million and forced them to sign the contract just to make it all legal and above board

Mexican Cession - Wikipedia, the free encyclopedia

blackgang · 05-07-2008, 03:29 PM

Quote:

Originally Posted by Panda

A lot of Mexicans still regard those South Western US states the USA "purchased at the point of a gun" in 1848 as Mexican territory.

In those greasers life time the borders have not changed so why in the hell should they feel that the land belongs to them? It never has that they actually know about.
Or is it just shit stirrers like you that have to go into old history that you actually have no knowledge about nor have you ever lived in the area that you seem to know so much about. And 90% of the greasers know no history and most can not read anyway, and How about Chiapas and Oxajoaca,, they were taken from the beaners thru force..

And I suppose that you think anyone that had ever had an ancestor that owned A SLAVE should have to pay all blacks union wages from 1865 until the present day.
and do you suppose that any country that was ever called something else or not under a nations flag should also be released to do as they want.

There were and still a lot of borders set by wars and also by payments, so if the greasers do not like it then why not declare war on the USA and then there would be grounds to legally shoot 12 million of them as enemy insurgents.

Whats going on?
Are you illiterate assholes afraid or can not read the constitution of the USA.

Panda · 05-07-2008, 04:17 PM

Quote:

Originally Posted by blackgang

Quote:

Originally Posted by Panda

A lot of Mexicans still regard those South Western US states the USA "purchased at the point of a gun" in 1848 as Mexican territory.

In those greasers life time the borders have not changed so why in the hell should they feel that the land belongs to them? It never has that they actually know

Looks like they are getting their land back a bit at a time.
Better learn some Spanish. I believe its the second language in SW USA.

But then again where else can you hire farm hands for $3 an hour?

Milkman · 21-07-2008, 03:44 PM

Here is an article. And I blame the borrower and not the lender. However, it's worth noting that yes, wages have stagnated, and the cost of education, and
basic cost of living has outpaced wages. housing, energy, inflation, and

Quote:

Household debt, including mortgages and credit cards, represents 19 percent of household assets, according to the Fed, compared with 13 percent in 1980.
Even as this debt was mounting, incomes stagnated for many Americans. As a result, the percentage of disposable income that consumers must set aside to service their debt — a figure that includes monthly credit card payments, car loans, mortgage interest and principal — has risen to 14.5 percent from 11 percent just 15 years ago.
By contrast, the nation’s savings rate, which exceeded 8 percent of disposable income in 1968, stood at 0.4 percent at the end of the first quarter of this year, according to the Bureau of Economic Analysis.
More ominous, as Americans have dug themselves deeper into debt, the value of their assets has started to fall. Mortgage debt stood at $10.5 trillion at the end of last year, more than double the $4.8 trillion just seven years earlier, but home prices that were rising to support increasing levels of debt, like home equity lines
of credit, are now dropping.

The New York Times: Reference Search for 'Household debt, including mortgages'

Panda · 21-07-2008, 05:11 PM

Quote:

Originally Posted by Milkman

Here is an article. And I blame the borrower and not the lender. However, it's worth noting that yes, wages have stagnated, and the cost of education, and
basic cost of living has outpaced wages. housing, energy, inflation, and

Quote:

Household debt, including mortgages and credit cards, represents 19 percent of household assets, according to the Fed, compared with 13 percent in 1980.
Even as this debt was mounting, incomes stagnated for many Americans. As a result, the percentage of disposable income that consumers must set aside to service their debt — a figure that includes monthly credit card payments, car loans, mortgage interest and principal — has risen to 14.5 percent from 11 percent just 15 years ago.
By contrast, the nation’s savings rate, which exceeded 8 percent of disposable income in 1968, stood at 0.4 percent at the end of the first quarter of this year, according to the Bureau of Economic Analysis.
More ominous, as Americans have dug themselves deeper into debt, the value of their assets has started to fall. Mortgage debt stood at $10.5 trillion at the end of last year, more than double the $4.8 trillion just seven years earlier, but home prices that were rising to support increasing levels of debt, like home equity lines
of credit, are now dropping.

The New York Times: Reference Search for 'Household debt, including mortgages'

Hey! What are you saying? These guys are Americans. Citizens of the greatest country ever to rule the earth, and as such the rest of the world owes them a living. Americans should be allowed to have as much debt as they want. Consumer goods like TVs and stereos cost money you know. There is no reason why the average American citizen shouldn't have access to unlimited credit as long as the US government can keep printing $US money to sell to the rest of the world. That is unless the rest of the world looses faith in the value of the $US.
OOps, that wasn't supposed to happen. Lets try printing more money and selling it to the losers who have been sucking up $USs in the past. Bastards don't want to play now. Its so un-American!

Milkman · 29-07-2008, 12:08 AM

When downturns happen, those on fixed income bear more brunt. Here's an article on the senoirs. Note: economic reports on unemployment will be released at the end of the week.

Quote:

Economy hitting the elderly especially hard

Bankruptcies soar as retirees, agencies struggle to keep up with rising costs

Jeff Gentner / AP file
Matt Jackson of the Meals On Wheels program waits to deliver a meal to a home in Charleston, W.Va. The program is losing volunteer drivers nationwide because of rising gas prices.

By Alex Johnson

Reporter
MSNBC
July 28, 2008

Bob Emily put in an honest day’s labor every day of his life.
“I worked for the railroad, for the town marshal, security, bars, Sealy down here, UPS,” said Emily, 82, of Commerce City, Colo. “Worked hard all my life until I got sick.”
Then the bills started piling up.

"Hospital bills built up,” said Emily, who didn’t have health insurance. “I had to get loans to take care of my bills. Then I was getting behind on the loans.”

Every day, more calls and letters would come in from creditors and collectors. “I just got tired of it,” Emily said, so three months ago, he filed for bankruptcy.

That could take some of the pressure off. Then again, it might not. Food prices and medical costs are still rising, tarnishing what are supposed to be the golden years for the elderly, perhaps the hardest-hit victims of the slumping economy.
Elderly Americans are filing for bankruptcy in record numbers, according to a study by AARP, formerly the American

Association of Retired Persons. At the same time, support is drying up from meal, transportation and other home assistance agencies that can’t pay their own bills.

“There's no question that the downturn in the economy is dramatically impacting those at the doorstep of retirement and those that have already decided to retire,” said Mark Kitchens, a senior vice president of AARP.

Soaring bankruptcy among the elderly
The numbers are stark. Of the more than 1 million Americans who filed for bankruptcy last year, nearly a quarter were 55 and up, AARP found. Bankruptcy filings among those ages 75 to 84 skyrocketed by 433 percent from 1991 to 2007.

Halfway into 2008, workers at agencies that serve the elderly say the problem is only getting worse.

Link: Economy hitting elderly especially hard - Retirement - MSNBC.com

Spin · 29-07-2008, 02:11 AM

Quote:

Originally Posted by Milkman

And I blame the borrower and not the lender.

How can that be though? A trillion dollars in possible losses and its the guy in the streets fault?

How could the guy in the street ever be held responsible for this?

The blame lies with Walls St, they couldnt package these crap loans quickly enough, the world was lapping it up like cats round cream. A bit futher down the chain are the maggot mortgage brokers selling complex products with the promise of rising values and eternal wealth.
I dont see how the end user can be responsible, he was just going along with the tagline out of the fed "homeownership is the American right"
Greenspan has a lot to answer for, he left rates down at 1% for too long and that set the ball rolling for the bubble.

Milkman · 29-07-2008, 02:43 AM

Quote:

Originally Posted by Spin

Quote:

03-07-2008, 08:39 AM	#642 (permalink)
blackgang Senior Member Last Online: Today 05:22 PM Join Date: Dec 2006 Location: Chiang Mai/San Sai Posts: 6,283	how about this shit then my friend. Links are included. You think the war in Iraq is costing us too much? Read this: Boy am I confused. I have been hammered with the propaganda that it is the Iraq war and the war on terror that is bankrupting us. I now find that to be RIDICULOUS. I hope the following 14 reasons are forwarded over and over again until they are read so many times that the reader gets sick of reading them. I have included the URL's for verification of all the following facts. 1. $11 Billion to $22 billion is spent on welfare to illegal aliens each year by state governments. Verify at: FAIR: Immigration and Welfare 2. $2.2 Billion dollars a year is spent on food assistance programs such as food stamps, WIC, and free school lunches for illegal aliens. Verify at: http://www.cis..org/articles/2004/fiscalexec.html 3. $2.5 Billion dollars a year is spent on Medicaid for illegal aliens. Verify at: http://www.cis..org/articles/2004/fiscalexec.html 4. $12 Billion dollars a year is spent on primary and secondary school education for children here illegally and they cannot speak a word of English! Verify at: http://transcripts.cnn.com/TRANSCRIP.../01/ldt.0.html 5. $17 Billion dollars a year is spent for education for the American-born children of illegal aliens, known as anchor babies. Verify at CNN.com - Transcripts 6. $3 Million Dollars a DAY is spent to incarcerate illegal aliens. Verify at: CNN.com - Transcripts 7. 30% percent of all Federal Prison inmates are illegal aliens. Verify at: CNN.com - Transcripts 8. $90 Billion Dollars a year is spent on illegal aliens for Welfare & social services by the American taxpayers. Verify at: http://premium.cnn.com/TRANSCIPTS/0610/29/ldt.01.html 9. $200 Billion Dollars a year in suppressed American wages are caused by the illegal aliens. Verify at: CNN.com - Transcripts 10. The illegal aliens in the United States have a crime rate that's two and a half times that of white non-illegal aliens. In particular, their children, are going to make a huge additional crime problem in the US Verify at: CNN.com - Transcripts 11. During the year of 2005 there were 4 to 10 MILLION illegal aliens that crossed our Southern Border also, as many as 19,500 illegal aliens from Terrorist Countries. Millions of pounds of drugs, cocaine, meth, heroin and marijuana, crossed into the U. S from the Southern border. Verify at: Homeland Security Report: http://tinyurl.com/t9sht 12. The National Policy Institute, "estimated that the total cost of mass deportation would be between $206 and $230 billion or an average cost of between $41 and $46 billion annually over a five year period." Verify at: http://www.nationalpolicyinstitute.o...eportation.pdf 13. In 2006 illegal aliens sent home $45 BILLION in remittances back to their countries of origin. Verify at: Wooldridge - How Much Further Into This Nightmare? 14. "The Dark Side of Illegal Immigration: Nearly One Million Sex Crimes Committed by Illegal Immigrants In The United States." Verify at: http://www.drdsk.com/articleshtml The total cost is a whopping $ 338.3 BILLION DOLLARS A YEAR. Why are we THAT stupid? If this doesn't bother you then just delete the message. If, on the other hand, if it does raise the hair on the back of your neck, I hope you forward it to every legal resident in the country including every representative in Washington, D.C. - five times a week for as long as it takes to restore some semblance of intelligence in our policies and enforcement thereof. "Madam, we have given you a Republic, if you can keep it!" â Benjamin Franklin (1787) __________________ To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. Political Correctness: A doctrine, fosteredby a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a turd by the clean end." To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

03-07-2008, 01:11 PM	#643 (permalink)
bkkandrew Clingin' on... Last Online: Today 05:21 PM Join Date: Oct 2007 Location: BKK Posts: 2,167	^Surely the solution to your rant would be to withdraw all the troops from Iraq and have them patrol the borders of the US and roam the country rounding up all these 'aliens'. Or is this too obvious?

03-07-2008, 03:32 PM	#644 (permalink)
AntRobertson Ich Bin Ein Auslander Join Date: Nov 2006 Posts: 8,368	^ Exactly. With all the heightened security and such post-9/11 it is a little odd that the boarder with Mexico is still so open. It's almsot as though it somehow benefits to have illegal immigrants 'slipping through'.

04-07-2008, 06:41 PM	#645 (permalink)
chinthee Sundance is my bff Join Date: Aug 2007 Posts: 5,776	^In fact, it is a great 'safety valve' for Americans, providing all the labour that Americans don't want to do for such low wages. Very similar to the Burmese here in Thailand. I don't look for much crackdown in spite of all the rhetoric by the politicians.

05-07-2008, 04:55 AM	#646 (permalink)
bkkandrew Clingin' on... Last Online: Today 05:21 PM Join Date: Oct 2007 Location: BKK Posts: 2,167	^Tell that to Blackgang. Go on I dare you. Tell 'im!

05-07-2008, 01:42 PM	#649 (permalink)
bkkandrew Clingin' on... Last Online: Today 05:21 PM Join Date: Oct 2007 Location: BKK Posts: 2,167	^In real life do you sound like you write, or do you just type how you would talk?

05-07-2008, 02:00 PM	#650 (permalink)
Panda Elite Member Last Online: Today 12:56 PM Join Date: Jul 2007 Posts: 1,357	A lot of Mexicans still regard those South Western US states the USA "purchased at the point of a gun" in 1848 as Mexican territory. The deal was that Mexico ceded the territory USA wanted or the USA would annex the whole of Mexico. So the Yanks gave them $15 million and forced them to sign the contract just to make it all legal and above board Mexican Cession - Wikipedia, the free encyclopedia