US housing market in ‘much worse shape’ than Fed admits: economist

Without modern banking, we would still be in the Middle Ages.

 

Well if you were loaning money to credit worthy borrows and the government mandates you have to loan to very risky borrowers how do you make up for the losses in those risky borrowers and spread the losses? You bundle them with good loans and sell them as a package so the return is not as good as the best loans but the losses are covered. But then when the market goes down, as in inevitably does, it can bust and it collapses the shaky system..........
BTW all those TARP bridge loans were paid back with interest and ahead of schedule no one was rewarded the government MADE money off of Tarp.

 

Same with all those EVIL corporations. Without the ability to incorporate and people can join together and pool their capital into a corporation we would still be in the Middle Ages. People forget it was corporations who explored the world and discovered new lands and established and spread western civilization throughout the world. It was for profits.

 

The guy wrote a good book and it deserves reading. It's in most libraries and does a far better job than I can do here or am capable of in any case.
Die Broke is especially good. It gave me a whole new lease on life and enabled me to enjoy my old age a lot more
Admittedly home ownership is generally best and is my preference but it is just an investment, not some holy dream

 

To paraphrase Keats; Freedom is money, money freedom. Banks increase the amount of freedom in the world and there can never be enough of that.

 

You make it sound like everyone broke even in the 2008 crash.

Millions of people suffered losses that they never got back.

The big banks broke even, or even made money.

 

The problem with "Participating in professions that make the world better instead of reaping the rewards of capitalism" is that "making the world better" means many different things to many different people - there is no agreement on what a "better world" would be. Now, it does seem to me that many leftists believe that "a better world" means that you and me get to work our asses off and then we get taxed heavily so others who provide no benefit to society can get free food, free housing, free phones, free medical, free college, free everything.

 

They already have done all of the above.

 

You seem to think that no liberals "work their asses off" or pay taxes.

 

Good example, but a friend of mine spends most of the year traveling and puts his home on Air BNB. He has people paying his mortgage for him and theres a little profit on top. I realize not everyone can do this.

 

That is a good example. A good friend of mine travels most of the year. He puts his home on Air BNB and lets others pay his mortgage.

 

I agree it was a good book. That does not answer my simple question.

 

You wanna bet most that don't are liberals?

 

I did. broke even, because I saw in 2007 where the market was going. My now ex wanted desperately to buy a new house and I refused because I saw it. The only thing I saw was my insurance and property taxes going and then they came back down. Our equity would have been wiped out had done so. Millions suffered losses because they tried the house flipping thing that was the rage on TV and took all their equity out of their homes bought house to flip, learned it's not quite as easy as the shows made it out to be, and then got caught with properties not worth the mortgages they took out. Banks weren't responsible for those losses.

 

lol, keep believing that

 

I'm sure that some do. However, I don't constantly have my fingers in their pockets trying to pay for my desired welfare (free stuff) projects. I sure wish they would keep their fingers out of mine. Leftists need to pony up and pay for their pet (free stuff) projects themselves.

 

They/their/me/mine - Your pronouns suggest that you identify as selfish.

 

Most welfare recipients are in the red states.

 

Should you fall on hard tomes (I hope not), my bet is that you'd look for government assistance just like anyone else.

I actually have a relative who is a staunch conservative and doesn't like the welfare state. However, they are salivating over how they can get the $10,000 student loan forgiveness. It's funny how it is always the "others" who are undeserving moochers, having their hands in hardworking Americans' pockets, but when conservatives enjoy their own government handouts, it is always "deserved".

 

And liberals.

 

Source?

 

Good idea, that basic process has made more than a few small fortunes. Remember that guy who used to sell the "wealth plan" that he claimed made him the Rolls-Royce he was driving a few years ago? Landlording does work for some people.

 

I believe in supporting authors, not explaining their works. You're asking me to spoil a story. Use your library.

 

I believe in making statements I can qualify. Perhaps you weren't prepared to discuss this topic with someone already familiar with the authors work.

 

Marx believed the revolution was inevitable and to be brought about by a natural, evolutionary process. These post modernist neo marxist know they must indoctrinate the society to bring it about.

"Marcuse champions non-integrated forces of minorities, outsiders, and radical intelligentsia, attempting to nourish oppositional thought and behavior through promoting radical thinking and opposition. ....."

"The intelligentsia is a status class of educated people engaged in the complex mental labours that critique, guide, and lead in shaping the culture and politics of their society."

"Modern industrial societies have furthermore created an "affluent society", which in increasing comfort have disguised the exploitative nature of the system, and have therefore strengthened means of domination and control. Modern "affluent society" therefore limits opportunities for political revolution against capitalism....."


Max Horkheimer first defined critical theory (German: Kritische Theorie) in his 1937 essay "Traditional and Critical Theory", as a social theory oriented toward critiquing and changing society as a whole, in contrast to traditional theory oriented only toward understanding or explaining it. Wanting to distinguish critical theory as a radical, emancipatory form of Marxist philosophy.

The neo marxist know they must first "nourish oppositional thought and behavior through promoting radical thinking and opposition". "shaping the culture and politics of their society" to bring about the revolution. Or some would say communism through evolution, not revolution.