Government Insider tells me Economic Collapse is Imminent., page 3

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reply posted on 13-7-2011 @ 04:44 PM by karen61057

reply to post by TheUniverse

So with an average home price of about $300,000. 4 million homes would total about 12 million.
Hmmm Not exactly an amount that would break a bank. ( or collapse an ecomomy)

reply posted on 13-7-2011 @ 04:46 PM by camaro68ss

Originally posted by karen61057
reply to post by TheUniverse

So with an average home price of about $300,000. 4 million homes would total about 12 million.
Hmmm Not exactly an amount that would break a bank. ( or collapse an ecomomy)

yes true but your forgeting to factor in that the banks leverage there loans 100 to 1. so every buck they save they have in the vault, they lend out 100

so a back only needs $3,000 to loan a $300,000 note. but if that note defalts, they owe the $300,000

edit on 13-7-2011 by camaro68ss because: (no reason given)

reply posted on 13-7-2011 @ 04:47 PM by cloaked4u

Originally posted by AuntB
reply to post by unityemissions

It is not a wild rumor that the gun shop owner was telling. He is telling the truth. Speak to an assessor or mortgage company. It is the truth. There are many living in foreclosed houses that have yet to be removed. Also, there are houses that are available for short sale. I am not fluent on this but as I understand, you make an offer, if it is accepted (by the bank) you get the house and the banks get reimbursed for some of their loss from the gov't. The banks are flooded and the time to process foreclosure takes so long, of course the people stay.

I saw a news report this spring about a sheriff who foreclosed on an apartment building. The owner was collecting rent but not paying the mortgage. The sheriff refused to throw the tenants out because he has compassion.

I see the impact of this, here in BIG LAKE, MN a whole mile or more of houses not even lived in. They use anti freeze in the winter to keep pipes from freezing. The houses, all over the place not only here in big lake , but elsewhere sit vacant. Some get broken into and it has become a problem here. SO TRUE.

reply posted on 13-7-2011 @ 04:50 PM by SunnyDee

Originally posted by karen61057
reply to post by TheUniverse

So with an average home price of about $300,000. 4 million homes would total about 12 million.
Hmmm Not exactly an amount that would break a bank. ( or collapse an ecomomy)

,
I think your math is wrong:
4 million x 300,000 = 1,200,000,000,000
Isn't that 1.2 trillion?

reply posted on 13-7-2011 @ 04:50 PM by cloaked4u

if you look around in your own neighborhood, i'm sure you will see this impact. CALLED THE HOUSING BUBBLE. Seriously, look in your own neighborhood.

reply posted on 13-7-2011 @ 04:54 PM by cloaked4u

Originally posted by SunnyDee

Originally posted by karen61057
reply to post by TheUniverse

So with an average home price of about $300,000. 4 million homes would total about 12 million.
Hmmm Not exactly an amount that would break a bank. ( or collapse an ecomomy)

,
I think your math is wrong:
4 million x 300,000 = 1,200,000,000,000
Isn't that 1.2 trillion?

YEP, and guess what? that is the figure missing in the fed reserve about and not only that.

reply posted on 13-7-2011 @ 04:57 PM by camaro68ss

Originally posted by SunnyDee

Originally posted by karen61057
reply to post by TheUniverse

So with an average home price of about $300,000. 4 million homes would total about 12 million.
Hmmm Not exactly an amount that would break a bank. ( or collapse an ecomomy)

,
I think your math is wrong:
4 million x 300,000 = 1,200,000,000,000
Isn't that 1.2 trillion?

and remember thats Leveraged 100 to 1 so the bank only had 120,000,000,000 to cover themselfs

edit on 13-7-2011 by camaro68ss because: (no reason given)

reply posted on 13-7-2011 @ 04:57 PM by karen61057

reply to post by SunnyDee

oops! Dont I feel stupid. I'll go take a nap now.

edit on 13-7-2011 by karen61057 because: (no reason given)

reply posted on 13-7-2011 @ 05:00 PM by cloaked4u

when they took that out of the equation to fix the bubble a collapse occurred, no meltdown. Now they want to raise the ceiling to fix the bubble again to put a bandaid on the huge hole in the leak. I fear this will only buy little time. An imminant of total collapse within. Like russia said, A fire will not be shot, america will crumble within.

reply posted on 13-7-2011 @ 05:03 PM by SkepticUnderdog

ive been hearing this for ages now. still waiting

reply posted on 13-7-2011 @ 05:04 PM by cloaked4u

russia jailed and took away huge sums of money from the ELITES there, i wish we would too. They are a menace to society, a cockroach a leech sucking you all dry. FOR WHAT. It is about time our gov't take back what is OURS.

reply posted on 13-7-2011 @ 05:16 PM by 2012srb

Originally posted by cloaked4u
russia jailed and took away huge sums of money from the ELITES there, i wish we would too. They are a menace to society, a cockroach a leech sucking you all dry. FOR WHAT. It is about time our gov't take back what is OURS.

WE are the government.

reply posted on 13-7-2011 @ 05:52 PM by cloaked4u

Originally posted by 2012srb

Originally posted by cloaked4u
russia jailed and took away huge sums of money from the ELITES there, i wish we would too. They are a menace to society, a cockroach a leech sucking you all dry. FOR WHAT. It is about time our gov't take back what is OURS.

WE are the government.

WHO are WE. Are you saying you are the gov't or are you saying the people WE are the gov't?

reply posted on 13-7-2011 @ 05:52 PM by Phedreus

Banks list mortgage loans as assets. The more assets a bank has on the books the more it can loan.

As each of these people decided to stop paying on these loans, they were after 90 days listed as non performing assets.

Traveling down through various levels as the timeframe gets longer they make their way to troubled loans.

In each phase depending on the accounting of the firm portions of these nonperforming assets must be written off as a loss. By the firm.

Once written off the firm must then through foreclosure, short sell etc. try to recoup its losses on the sale of the assets. However these houses that these loans represent are still assets, and priced at the cost of the original loan.

One of the contributing factors for the last near economic collapse, was the fact that the banks were forced by the government to write down these assets to reflect current market value. (I am not saying this was a good thing or a bad thing only that it was a factor)

Once they did that their asset base was cut deeply and they were forced to call in loans or sell off performing loans to raise required reserves.

It’s not the write off of these loans that we must look out for, but the write-down of them.
Tying everything up in court has actually helped the banks by giving them more time before they have to write down these loans.

edit on 7/13/2011 by Phedreus because: (no reason given)

reply posted on 13-7-2011 @ 05:58 PM by cloaked4u

Originally posted by cloaked4u
when they took that out of the equation to fix the bubble a collapse occurred, no meltdown. Now they want to raise the ceiling to fix the bubble again to put a bandaid on the huge hole in the leak. I fear this will only buy little time. An imminant of total collapse within. Like russia said, A fire will not be shot, america will crumble within.

The gov't, NOT we the people are in charge, supposedly, unless it has been infiltrated by big buisness.

reply posted on 13-7-2011 @ 06:07 PM by mjfromga

reply to post by camaro68ss

This doesn't surprise me at all. Look at the states from July 1, 2011:

CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released negative equity data showing that 10.9 million, or 22.7 percent, of all residential properties with a mortgage were in negative equity at the end of the first quarter of 2011, down slightly from 11.1 million, or 23.1 percent, in the fourth quarter. An additional 2.4 million borrowers had less than five percent equity, referred to as near-negative equity, in the first quarter. Together, negative equity and near-negative equity mortgages accounted for 27.7 percent of all residential properties with a mortgage nationwide. In the fourth quarter, these two categories stood at 27.9 percent.

starglobaltribune.com...

reply posted on 13-7-2011 @ 06:08 PM by TDawgRex

reply to post by camaro68ss

Good thing I rent, and always have. No property taxes or County buttwipe to deal with when I want to improve my property.

All these houses going into foreclosure is old news as is the banks failing. People have quenched their hungry eyes, rather than buying within their means. I have no sympathy for them.

Good post though. Maybe people are finally waking up.....to common sense.

reply posted on 13-7-2011 @ 06:11 PM by camaro68ss

There is so much going on right now. I don’t see any solution other than a utter collapse of the global markets.

Scary times we live in

edit on 13-7-2011 by camaro68ss because: (no reason given)

reply posted on 13-7-2011 @ 06:16 PM by surrealist

Interesting thread OP and appreciate you sharing. Was going to post some thoughts and decided not to with all the criticism and mockery. Getting really sick of it.

reply posted on 13-7-2011 @ 06:18 PM by snowspirit

Originally posted by camaro68ss
There is so much going on right now. I don’t see any solution other than a utter collapse of the global markets.

Scary times we live in

edit on 13-7-2011 by camaro68ss because: (no reason given)

Probable QE3, default or debt ceiling raise, upcoming mortgage/housing crisis....
What next?