Poor Old Ted Kennedy

[Hugh_Hoy]

 

HH

[danno6]

the comment about Caroline taking Uncle Ted's seat.....when Kerry was running for President the MA legislature passed a law that the Governor (was then Mitt Rommney) could not appoint a new senator, a special election needed to be held instead. Of course when Kerry was in concention for Secretary of State after Obama was elected....the legislature was talking about changing the law back. Only in Taxachusetts!

[Old Hippie]

I took two courses at university level in economics and received a B- for each semester.

 

So I know a little about economics!

 

And . . . there is a lot of bullshit in some of these posts !!

 

 

La-dee-fucking-da! So did I and I know something about it also...that is, most people know nothing about economics. Even so called experts. Like anything else, it is NOT an exact science at all. Somtimes I'm right, sometimes I'm wrong.

 

But please elaborate on your points so we can have your opinions as well.

[unit731]

I took two courses at university level in economics and received a B- for each semester.

 

So I know a little about economics!

 

And . . . there is a lot of bullshit in some of these posts !!

 

 

La-dee-fucking-da! So did I and I know something about it also...that is' date=' most people know nothing about economics. Even so called experts. Like anything else, it is NOT an exact science at all. Somtimes I'm right, sometimes I'm wrong.

 

But please elaborate on your points so we can have your opinions as well. [/quote']

 

OK. My grade was a B-.

 

Tell us, what was your grade?

 

Let the cards fall where they may.

 

[unit731]

Here's one tidbit.

 

Housing in US.

 

The large builders. DR. Horton, Pulte, Centex, etc. They buy large tracts of land for housing development. They build the homes, roads, etc. Each of these companies has a 'financial' arm. A financial institution - or sometimes called a bank.

 

The builders need people to buy these homes. So the financial arm of the builder makes the mortgage to anyone. This financial arm (bank) pays the building company branch. The building company gets paid. The financial arm (bank) takes all these mortgages and sells them to anyone who will buy them. So the financial arm of the building company is paid. They sell these mortgages to let's say Citigroup or Bank of America. These banks in turn bundle all these mortgages into 'packages' and sell them to Credit Suise or Deutsch Bank or Bank of Dubai or any bank foreign or domestic.

 

Many of these original mortgages are not fixed but ARM mortgages. That go up shortly.

 

The problem is that many of these home buyers are really not financially qualified to buy these homes. So they stop paying. Foreclosure occurs. The value of the home goes down as too many homes for sale and not enough buyers.

 

The 'owner' of these mortgages whether Citigroup or Credit Suise is 'out' the income or money. This affects the banks ability to loan any money to any entitiy. Business slows. Ad to this job losses.

 

Money really is 'tight'. No one is spending. And no bank is loaning.

 

But in the end, where did all the 'money' go? Let's exclude the few hundred million in CEO bonuses for a minute. We are talking about US billions of dollars. Where did that money go?

 

In simplistic terms, the home that sold for US $200,000.00 is now only worth US $80,000.00. The original mortgage was for $200,000.00. The person who 'paid' (borrowed) the $200,000.00 is gone and not paying anything. So where did the difference in current value of home at US $80,000.00 and the initial cost of US $200,000.00 - go?

 

In other words, where is the missing money?

[shygye]

... in the bonuses. You do realize Goldman Saks paid $24 BILLION in bonuses.

 

A barrel of oil went from $147 to $41. Where did the difference go?

[Steve]

I took two courses at university level in economics and received a B- for each semester.

 

So I know a little about economics!

 

And . . . there is a lot of bullshit in some of these posts !!

 

 

La-dee-fucking-da! So did I and I know something about it also...that is' date=' most people know nothing about economics. Even so called experts. Like anything else, it is NOT an exact science at all. Somtimes I'm right, sometimes I'm wrong.

 

But please elaborate on your points so we can have your opinions as well. [/quote']

 

OK. My grade was a B-.

 

Tell us, what was your grade?

 

Let the cards fall where they may.

 

I got a B but only because I sat with the football players in the back of the class and the professor was handing out grades to athletes. I ran track but she probably thought I played football.

 

True!