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Thread: Get all your hatred for communism out while you can

  1. #19

    Default Re: Get all your hatred for communism out while you can

    How about subrime mortgages? They advertised it to death. Home equity loans? People have survived for thousands of years without such stuff.

    There is nothing inherently wrong with subprime mortgages or home equity loans. Subprime mortgages shouldn't have been offered to people at high risk of default.

    Remind me again what the problem is with home equity loans?

  2. #20
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    Default Re: Get all your hatred for communism out while you can

    Quote Originally Posted by Flop The Nuts View Post
    How about subrime mortgages? They advertised it to death. Home equity loans? People have survived for thousands of years without such stuff.

    There is nothing inherently wrong with subprime mortgages or home equity loans. Subprime mortgages shouldn't have been offered to people at high risk of default.

    Remind me again what the problem is with home equity loans?
    The problem is that when the housing bubble burst and home prices went down, many people that took out home equity loans ended up with bigger loans than their houses are worth. So, if they can't pay off their home equity loans, the banks can't get it all back by taking their house because the value of the house has dropped.

    I am not even mentioning giving people more and more money to put them in debt.

  3. #21

    Default Re: Get all your hatred for communism out while you can

    The problem is that when the housing bubble burst and home prices went down, many people that took out home equity loans ended up with bigger loans than their houses are worth.

    You can only protect people so much, Big. If these people wanted to increase their debt level to buy their third and fourth cars, speed boats, and beach vacations, then they just have to live with the consequences.

    Maybe you should start a business as a repo man. That would be a good business to be in over the next few years.

  4. #22

    Default Re: Get all your hatred for communism out while you can

    Quote Originally Posted by Big View Post
    Communist
    That's why they built those walls, guard towers, border stations, etc. because of all the people trying to get into the communist countries from the capitalist west.

    R.I.P. Cyrano and Roxanne.

  5. #23

    Default Re: Get all your hatred for communism out while you can

    Quote Originally Posted by Flop The Nuts View Post
    How about subrime mortgages? They advertised it to death. Home equity loans? People have survived for thousands of years without such stuff.

    There is nothing inherently wrong with subprime mortgages or home equity loans. Subprime mortgages shouldn't have been offered to people at high risk of default.

    Remind me again what the problem is with home equity loans?
    Actually, there is a problem with sub-prime loans. By definition the banks were lending money to people who were questionable as to their ability to repay it.
    The only problem with home equity loans is people getting greedy - When you add additional debt load to the house, factor in "easy" credit card debt, throw in student loans and a car payment, people got in over their heads. Then it only takes a small problem - car breaks down, lay-off at work (not so small a problem!), illness, etc. to get into real trouble real fast. People haven't been leaving themselves any cushion. Living pay-check to pay-check with no savings doesn't give a person much of a safety net.

    R.I.P. Cyrano and Roxanne.

  6. #24

    Default Re: Get all your hatred for communism out while you can

    Ooops, left out something. Big - the fact that something is "advertised to death" doesn't mean that people have to buy into it.

    R.I.P. Cyrano and Roxanne.

  7. #25
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    Default Re: Get all your hatred for communism out while you can

    Just like some of you say people are not wired to follow communism, I say people are not wired to resist temptations to be in debt and to buy things they don't need. Some can but enough can't to sink the whole system. That's why capitalism is going under.

    Its the same thing as many Americans being overweight. Why don't they just say "No" to all the food?

    The fact is Nature created humans to live in scarcity. Its that instinct to get more while you can and worry about consequences later.

  8. #26

    Default Re: Get all your hatred for communism out while you can

    Quote Originally Posted by M Richardson View Post
    That's why they built those walls, guard towers, border stations, etc. because of all the people trying to get into the communist countries from the capitalist west.
    Point taken. However, those were not real communist regimes--they were (are) only in name. Fact of the matter is that real, actual communism simply can't work because people aren't wired for it. I tend to think the idea's a decent one, though.

  9. #27

    Default Re: Get all your hatred for communism out while you can

    Quote Originally Posted by Big View Post
    Americans were good at Genocide (Indians), slavery (blacks), and nuclear bombing (Japanese).

    You people are confusing forming a country and running it. All the bad things happened during the formation, not during the running of the country.

    Poverty? Everyone could read and had education and decent health care. Everyone had a place to live, food to eat, and clothes to wear. That's more than you can claim in America.
    Sorry Big but while the Indians were certainly displaced they were hardly exterminated in the style of Stalin, Mao, and Pol Pot.

    But Im glad you bring up slavery. Yes America, and most of the rest of the world for that matter, once allowed slavery, but we also fought our most deadly and costly war to end it. Even as many were enslaved here, that hardly comes close to the millions enslaved in your commie "re-education" camps, gulags and salt mines, etc.

    As to the bombing of Japan, that was atomic, not nuclear. And once again allow me to remind you that those bombs saved not just thousands of lives but MILLIONS.

    Your ignorance of History is really quite stunning.

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