who owns what?

Discussion in 'Financial Cents' started by Tango3, Sep 23, 2008.

  1. Tango3

    Tango3 Aimless wanderer

    There seems to be talk of buying not just mortgages but all kinds of consumer debt wrapped up in"cds's"too??
    So what does that mean for us?
    The govt holds the paper so We owe the govt(?) and the gov can foreclose? Talk about leverage!
    So they decide the mi militia is getting too riled up, Hmm letssee, 10,000 members 9,500 loans/creditcards, lets call in 9,000 folks and discuss calling in their loans... [beat][beat]
    by the balls. [gone]
    and not a shot fired!
  2. RouteClearance

    RouteClearance Monkey+++

    I know this is FUBAR big time, but I myself have never had a debt load of more than $5,000.00 dollars for my entire life, and I cannot feel sorry for anyone who has basically dug themselves a hole that they will probably never get out of. Granted their are some truly honest, freedom loving individuals that will get caught up in this and TPTB will take advantage of their situation tor force their hands. Yet what can the rest of us do to help them without constructing a modern version of an underground railroad.
  3. CBMS

    CBMS Looking for a safe place

    well I doubt we could even do that RC, The way that TPTB can track us these days. Its easy, but VERY hard to disappear and reappear as someone else. Plus most of Us don't want to do that, we have family, connections and ties that we don't want to lose. However T3 I don't think that the Michigan Militia will have to worry about the government calling in their debts. That is a bit too forward for them, I can more imagine a slow noose around the Auto industry to be moved elsewhere, maybe to a more "Green" location to allow the funds inside of rural and semi-rural counties slowly dry out. they will force us to either conform or be ostrisized.
  4. BAT1

    BAT1 Cowboys know no fear

    They can't do that to me. I have one card. I charge under 50.00 to it a month an pay it off each month. This is in case I have an emergency. The rest is cash, a little gold and silver. It is in a safe with all my four weapons and a lot of ammo. They will use the credit system to control and enslave you. Pay them off, and cut them up. Just another way to get your identity stolen these days. Food in the cupboard is worth more to me. My mate plays the credit thing, and we pay them off every month, and I play the backup thing and barter. It takes a mix.
  5. kckndrgn

    kckndrgn Monkey+++ Moderator Emeritus Founding Member

    I have no consumer debt anymore, the only debt I have is my home. But in the end, do you ever really "own" your home? Don't pay "taxes" and the city/county/state gov. will take it away.

    My family has been living below our income paying off debts, when those were gone, we didn't change our habits and we've been putting money away for future big purchases. As a result, my wife has now quit a good paying job where there was lots of stress, and is going to work at a range where I work part-time. Her pay will be 1/2 of what it was, but it will not effect our life.
  6. Clyde

    Clyde Jet Set Tourer Administrator Founding Member

    My children own all the mortgages of the people too poor to pay the mortgage payments they obligated themselves to pay. According to the government, we will make much more profit than we made on the AMTRAK (Pennsylvania Rail Road Bailout) deal in the 1970s, more than the S & L Bailout in the 1990s. I guess we can't do much better than a negative billion a year on the AMTRAK "investment". http://www.heritage.org/Research/Budget/bg2072.cfm

    My next investment will be to rack up $100,000 in credit card debt on survival preps so that I can walk away from my home, head to my bug out location that will be stocked for years to come and simply let my children and your profit from this future banking loss. It is amazing that a banking loss can be considered a sound investment....even if, in the end, it is simply $5,000,000,000,000 - $9,000,000,000,000 of our current $9,000,000,000,000 to $10,000,000,000,000 not including the unfunded future mandates of just $53,000,000,000,000 or so equating to a grand total of somewhere around $72,000,000,000,000 giver or take a couple hundred billion.

    I mean...who wouldn't want to invest in a bankrupt nation that can convince the world to keep buying our debt so we can keep spending and adding to our overall debt by simply adding to our debt.

    Remember: they are doing this for your children!
  7. Tango3

    Tango3 Aimless wanderer

    Well I'm with you: we made our last mortgage payment August 15th! I kept pushing my cfo to pay it off early didn't really have a reason, justuneasy tinfoil feelings...We've also got a very small cc balance
    I'm feeling abit smug; If we were up to our kiesters' in a $400,000 arm,I 'd be under medical supervision bynow..I ride a 28year old bike; 13year old truck, half-dead toshiba satelite laptop, no cell phone. I really don't appreciate marketters pushing blind consumption and have tried to pass this down to my daughters. [beer][boozingbuddies]
  8. homeshow

    homeshow Monkey++

    this is a great example of what you are supposed to do. not what the general public does. keep your debts minimal and pay on principal to reduce debt even faster. buy the smaller house that needs some elbow grease. instead of the one you need a 30 year mortgage and can't build up a savings with. get the 15 year mortgage home that you can afford to pay bills and save with.

    if you can't save money, have health insurance, and afford some basic entertainments (must laugh when we live) then that is not the house or car for you.
  9. kckndrgn

    kckndrgn Monkey+++ Moderator Emeritus Founding Member

    Congrats on the mortgage Tango!! I have a sister that the only way she could "afford" to get a home (condo) was the 100% financing plan with a 5yr arm. Guess what, her monthly payment almost doubled when the 5 yrs was up, she did save anything to help her refinance with a fixed rate, so now she is having to work extra hours just to make the house payment. That is NOT the way I want to live.
    My current vehicles are not that old, but I'm about to take possesion of my dad's old truck, an '87 Ford with 87K miles on it.
    I think one reason there are fewer and fewer older vehicles on the road nowadays is people don't know how to do the maintenance on them themselves, so every couple of years they get a new vehicle so they don't have to pay someone to do "costly" maintenance.
  10. Tango3

    Tango3 Aimless wanderer

    911= " just go shopping!??" Moron.
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