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Roco

WTF is going on ?

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:evil2: I just lost $20,000 in the UK over this, and I ain't investing in the USA, ? :twisted:

Last Updated: Thursday, 16 August 2007, 19:13 GMT 20:13 UK 

Heavy losses sweep world markets 

The world's markets are being watched closely

The UK's main share index has closed down sharply as concern over the impact of turmoil in the US sub-prime lending market continues to haunt investors. 

sudenly I need to know about "US sub-prime lending market"  :evil2:

http://news.bbc.co.uk/1/hi/business/6948916.stm

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F**k how much is a new Harley D,?  I am kinda feling a bit sick  :evil2:

your going to see alot more of this.

they gave out way to much money and no one could afford to pay it back so now this happens  :haha: :haha:

so goodbye Harley metal on the drive, :cry2: and hello chancers !, :twisted:

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your going to see alot more of this.

they gave out way to much money and no one could afford to pay it back so now this happens  :haha: :haha:

I believe you are right on the money! Many prospective homeowners who did not qualify for a conventional loan, were given several options . One of the more popular, interest only, is really causing havoc.

I am not sure of the name of another  one, but I know how it works,  say you are buying a house w/ a value of $200,000 (National average affordable middle income housing)  many, had a debt to income ratio greater than 90% , EEEEEEEEEEK, so what the underwriter would do is approve a loan for approx. $25,000 over the already inflated resale value (which at the time was considered what you could sell a home for lol) . They would in essence , give you two loans, one for the 200k, and one for the 25k. They would "invest" the 25k and make the full of the payment from the " escrowed " 25.  You would only be paying for the 200k, but , on the interest of the loan. So your payment would be roughly $700.00 plus taxes. Well, the way they had it set up, on an arm, or vrm, , or balloon, in five years , you were liable for refinancing your home. Many cannot get the $$$$'s, so they simply default , of worse, walk away, leaving most everything they own, or what they had put on there credit cards. Sticking the bank w/ the house , in which by now they have WAY to many , and there holdings cannot withstand the impact.

You will not only see more of this, but you may see banks merging EEEEEK! Which leads to mega-uber -ultra monopoly's owning not only houses, or blocks, or neighborhoods, but complete towns. More people on government programs, and under the control of a few, relying on them for simplistic things such as food, and medical care.

It's not only comming, it's here! All in the big plan. Set up to gain more control.

Edit: don't quote me on exactly how this has worked , as far as the mortgage , but I'm sure I'm real close .

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They don't want the houses. It is the greedy little mortgage brokers who only own the loans long enough to sell them to another bigger broker. And they only want the $2000+ up front mortgage fees they collect right up front.

And the crap of it all. take a guess who's money they are loaning out in the first place??????????????????????????

Your income tax return.  :wink: Your social security money. ETC...... :cry:

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Sorry. But lets face it. This little stunt of Bush and his whole "hey lets go to iraq and kill all the bad guys" is forsure gonna have a huge effect on america's economy as well as the rest of the world.  Everything is going through the roof.

Say what you will about moore and his movies. The one thing that stuck me about his 9/11 movie was that.......as moore claims.... bin landen has so much money in the us, if he were to pull all of it at once, he could create some serious issues with our economy. You will have to ask someone with alot more brain power how all that works.  All this time and we are no closer to getting bin landen that we were 4 years ago.

Seems odd we are in a country with so much oil yet prices of gas are through the roof. No we should not just take there oil. But my goodness. Bush got us in a mess, and sadly enough, he is laughing all the way to the bank.

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Sorry. But lets face it. This little stunt of Bush and his whole "hey lets go to iraq and kill all the bad guys" is forsure gonna have a huge effect on america's economy as well as the rest of the world.  Everything is going through the roof.

Say what you will about moore and his movies. The one thing that stuck me about his 9/11 movie was that.......as moore claims.... bin landen has so much money in the us, if he were to pull all of it at once, he could create some serious issues with our economy. You will have to ask someone with alot more brain power how all that works.  All this time and we are no closer to getting bin landen that we were 4 years ago.

Seems odd we are in a country with so much oil yet prices of gas are through the roof. No we should not just take there oil. But my goodness. Bush got us in a mess, and sadly enough, he is laughing all the way to the bank.

  Go into your bathroom, look in the mirror, feel the top of your ears for bumps. Please do this, I am not being sarcastic.  If you cannot find any there look elsewhere, like just under your collar bone. Please post your results.

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Mudmanc, you kill me sometimes.

As far as high fuel prices. We have most likely the lowest next to the middle east in low prices. If you don't believe me, check it.

As far as Bin's $$$, last I heard his ASSets were frozen and he can't get them anyway.

And we have had worst presidents before. Try sometime looking up LBJ, and do some real research on that jewel of a president. Part of most of todays troubles. Him and the societies he belonged to. That could keep you busy for a bit.  [nerdly]

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Take it all in one stride there Sir. Roco, these things happen. I know it gets nerve racking , but as you stated, it is one heck of a gamble .

My pessimistic view here, is the markets are " bloated " , or fictitiously portrayed to be a sign of an economy that is being sustained by credit, not liquid. So how can the future of the market be that bright, when it comes time to pay the piper.  :whaa:

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Take it all in one stride there Sir. Roco, these things happen. I know it gets nerve racking , but as you stated, it is one heck of a gamble .

My pessimistic view here, is the markets are " bloated " , or fictitiously portrayed to be a sign of an economy that is being sustained by credit, not liquid. So how can the future of the market be that bright, when it comes time to pay the piper.  :whaa:

my feeling exactly  mudmanc, I been preaching doom and gloom for the past year in the around  UK , I just got that feeling in my bones again, it's all unsustainable with so much debt  around ,

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my feeling exactly  mudmanc, I been preaching doom and gloom for the past year in the around  UK , I just got that feeling in my bones again, it's all unsustainable with so much debt  around ,

Speaking of debt, I was speaking w/ a gentleman from an investment company wednesday, he spoke very un-promising words.

The national household average credit card debt , here in theU.S. is raging up towards 50K.  I can hardly believe that, that's an average? That would mean that at least a million people must be in the 100k range of credit card debt! How do you recover from 100k worth of IOU's? When the housing values are fictitious , you cannot sell the damn thing for near half what you paid for it, so you have nothing but more debt if you do find a seller.

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Average household debt in the UK is $18,200 USD (excluding mortgages) and $120,000USD  including mortgages.

Average owed by every UK adult is $58,000USD  (including mortgages). This grew by $420 USD  last month.

Average outstanding mortgage for the 11.7m households who currently have mortgages is $192,100 USD

Average interest paid by each household on their total debt is approximately $7,200 USD each year (this equates to 9% of take home pay).

"How do you recover from 100k worth of IOU's?"

sad thing is you don't ,

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to quote  Charles Dickens (1812-1870 

Income 20 shillings, expenditure 19 shillings and elevenpence. Result happiness.

Income 20 shillings, expenditure 20 shillings and a penny. Result misery. ...

still reads good today IMHO

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Well we can't put all of the blame on Bush. Everything our economy faces now, we have faced in the past. We need to learn to connect the dots and learn from past mistakes. Example, one poster blames Bush and another throws up LBJ being a bad President. Connect the dots and you see that they are both from Texas. Our lesson learned today is to never vote for a Texan for President.....LOL

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So how do you think folks live on stocks in the first place.  :?:

:idea:  :wtf: do you think they are either gray headed or bald.  :2funny::haha::2funny:

It's not an easy go. Stocks move a lot.

:lol:,  ":wtf: do you think they are either gray headed or bald."  :undecided:

Hmm, you got me rushing to the mirror  Bro ,  :shocked:.........Duh, just something else to worry about  :evil6:

Roco aren't you glad its weekend

the market does go up or down

:)

'

:lol: no I ain't glad it's weekend , it's time for worry and no action to plug the leak , :evil2:

I had an appointment with my fin/adv set for this comming Monday , but it looks I got caught short footed this time , look I ain't a city wizz kid , I am playing with my hard earned savings,

I had planed a month back to get out of stocks ,  :lol:  just bad timming on my part ,

and even my G/F says my timming is allways crap  :shocked::evil6:................. :2funny:

 

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