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  1. #51
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by Modern Nomad View Post
    mortgage rates are tied to treasuries. i don't think treasuries were aritificially cheap because of the fed.

    if you have low mortgage rates, and good credit screening policies in place, then you wouldn't make bad loans to people who shouldn't get them.

    market incentives to NOT screen out those with bad credit is key here...
    I disagree with the bolded.

    The best market incentive would be to have banks loan out their own money, rather than ours, but we all know that isn't going to happen any time soon.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  2. #52
    mountain surfing nomadic's Avatar
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    Quote Originally Posted by Little Linguist View Post
    I KNOW that - we have the brilliant American folks to thank for that. And then they have the balls to come to us and ask US for money after our banks are also in trouble. Ay yi yi. :rolli:

    Though I have to admit our bankers were also pretty damned stupid to rely on Americans so much. Don't they know you DON'T put all your eggs in one basket. Shit.
    LOL

    well, by all means, if people can't think their way out of this situation, then we deserve armaggedon.

  3. #53
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    Quote Originally Posted by Lateralus View Post
    I disagree with the bolded.

    The best market incentive would be to have banks loan out their own money, rather than ours, but we all know that isn't going to happen any time soon.
    the long end of the bond market isn't tied to banking markets

    btw, i agree the long end was artificially cheap. but not for the reasons you stated. the fed can't pump long end treasury prices up.

  4. #54
    Striving for balance Little Linguist's Avatar
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    You guys have got to get rid of the fed. Dude. They always mess things up. You know what prompted the economic downturn towards the end of the Clinton era (among other things???) - raising interest rates - done by the Fed.

    You have an independent bank with no public accountability controlling your monetary policy (in effect) and therefore your economy. Don't you feel safe now that private interests over which you have absolutely no control have that much power???? Screw the elections. Get rid of the Fed.
    If you are interested in language, words, linguistics, or foreign languages, check out my blog and read, post, and/or share.

  5. #55
    Striving for balance Little Linguist's Avatar
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    Heh, yeah Nomad, but interest rates are - and they have like sole control over that. A private bank. Heh. Now I don't want to say gov't would do any better. Shit, I don't want a moron like Bush controlling that either, but DAMN. Can't you guys come up with a better alternative?
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  6. #56
    mountain surfing nomadic's Avatar
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    Quote Originally Posted by Little Linguist View Post
    . You know what prompted the economic downturn towards the end of the Clinton era (among other things???) - raising interest rates - done by the Fed.
    yeah, well that and not enough americans had broadband to support the lofty internet boom projections.

  7. #57
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    Quote Originally Posted by Little Linguist View Post
    Heh, yeah Nomad, but interest rates are - and they have like sole control over that. A private bank. Heh. Now I don't want to say gov't would do any better. Shit, I don't want a moron like Bush controlling that either, but DAMN. Can't you guys come up with a better alternative?
    i agree that the fed contributed to this housing bubble, specifically greenspan.

    but this bubble bursting has wayyy too much systematic risk to every sector of the economy. its much much worse than just feeling poorer and having lower home values.

  8. #58
    Striving for balance Little Linguist's Avatar
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    Quote Originally Posted by Modern Nomad View Post
    yeah, well that and not enough americans had broadband to support the lofty internet boom projections.
    I'm well aware of the dot-com bubble burst. However, I would also argue that raising interest rates is another big deal.

    Do you notice a trend here, apropos???? EVERYTHING that makes America look great is chimera and facade. EVERYTHING. Your middle class is upheld through loans. Your great economy is at the mercy of an independent bank. Your stock market is speculation. Your state is upheld by debt. Shit fire, I'd get out of that country before you can say Jack Robinson.

    Oh wait. I already did.
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  9. #59
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    Quote Originally Posted by Modern Nomad View Post
    but it is based on reality. make no mistake about that. there are times people panick and overreact, but it is very very much based on reality.

    otherwise, if you think the market overreacts, by all means, the best way to prove that is to put money in the market. if not, then thats as real as it gets.
    The reality of perception and money transfer BASED on the speculation I spoke of. I'm not going to put money into this mess, lol.

  10. #60
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    Quote Originally Posted by Little Linguist View Post
    I'm well aware of the dot-com bubble burst. However, I would also argue that raising interest rates is another big deal.

    Do you notice a trend here, apropos???? EVERYTHING that makes America look great is chimera and facade. EVERYTHING. Your middle class is upheld through loans. Your great economy is at the mercy of an independent bank. Your stock market is speculation. Your state is upheld by debt. Shit fire, I'd get out of that country before you can say Jack Robinson.

    Oh wait. I already did.
    LOL

    okay

    sheesh! its still good for an education though!

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