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Old March 22nd, 2011, 11:47 AM   #1
howell_jeep
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Default US Approaching Insolvency

Thanks Obama...

http://www.cnbc.com/id/42209447
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Old March 22nd, 2011, 11:54 AM   #2
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Guess all those bailouts weren't such a good idea.
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Old March 22nd, 2011, 12:03 PM   #3
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Part of the insolvency is caused holding onto these ABS (bailout mortgages); I suppose selling them gradually will be their plan to recoup OUR money.
I'm not left or right, and def. not in the middle, but the right wants to liquidate and the left wants to raise the debt limit, which mathematically will make us more solvent; even though we'll be farther in debt.
This is what the Framers feared. An d I fear we are at the beginning of this problem not anywhere near the middle or end.
I recently applied for a Mortgage, they said FM(sq) are charging 0.25-5.0pts on a mortgage for a processing “recovery” fee. I assume this is to recoup some of this debt brought on by those who defaulted. I'm researching this more, as everything is negotiable.
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Old March 22nd, 2011, 03:32 PM   #4
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Quote:
Originally Posted by nesterautogroup View Post
Guess all those bailouts weren't such a good idea.
No but I'm more concerned about the 1.4 trillion deficit and launching 68mill missles into Africa.
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Old March 22nd, 2011, 04:25 PM   #5
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Spend money, fuck kunta kinte.
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Old March 22nd, 2011, 06:00 PM   #6
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This has been an oncoming issue from long before Obama. Why do you think interest rates are so low? They have been pushed down more and more by the Fed's monetary policies for years to artificially low levels. Why? So that te government can afford to keep making its payments on its debt. If interest rates would return to non-government influenced levels, the US would not be able to repay its debts. The interest on existing debt would exceed incoming tax revenue.
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