Country is doing Better???

[Black_Magic]

Who was it on here that mentioned how well the economy is now doing??? Look at this.. It does not look like things are geting better... worse maybe..

Wall Street dives on mortgage defaultsFrom correspondents in New York
March 14, 2007 09:13am
Article from: Agence France-PresseFont size: + -

WALL Street shares took a beating overnight as data showing rising mortgage delinquencies exacerbated fears that housing woes could spread to the broader economy.

The Dow Jones Industrial Average tumbled 242.66 points (1.97 per cent) to close at 12,075.96 as the market sell off accelerated late in the day.

The Nasdaq composite index plummeted 51.72 points (2.12 per cent) to 2350.57 and the broad-market Standard and Poor's 500 index retreated 28.65 points (2.04 per cent) to 1377.95.

It was the worst day for US shares since February 27, when the Dow plunged more than 400 points amid a global stock market rout.

The selloff gathered momentum after the Mortgage Bankers Association said delinquencies for all home loans rose to a three-year high of 4.95 per cent in the fourth quarter, and to 13.33 per cent in the risky "subprime" market.

The report was "the straw that broke the backs of buyers today," said analysts at Briefing.com.

"The upward climb in delinquency rates is highly anticipated, but the release of the data is at a time of extreme market sensitivity on the issue as several subprime mortgage lenders have reported financial difficulties," said Stephen Gallagher, economist at Societe Generale.

"The process raises questions for the economy at large."

The news came at a time of heightened fears about high rates of failures in the giant mortgage sector, with "subprime" specialists that lent to borrowers with patchy credit histories at particular risk.

The market opened on a weak note after government data showed US retail sales rose a modest 0.1 per cent in February, weaker than the 0.3 per cent rise expected by Wall Street analysts and another sign of a softening economy.

Excluding the often volatile auto sector, retail sales fell 0.1 per cent for the month. Excluding both auto and gasoline, overall sales fell 0.3 per cent, the worst figure since April 2004.

"Even if the weakness in February retail sales can partially be explained by cold weather, it also reflects a downward trend in consumer spending," said Marie-Pierre Ripert, economist at IXIS Corporate and Investment Bank.

Viacom shares fell five cents to $US39.50 as the owner of MTV and Paramount Pictures said it was suing Google and its YouTube video-sharing website for "massive" copyright infringement. Google shares fell $US11.72 dollars to 443.03.

Bonds rallied in a flight to safety.

The yield on the 10-year US Treasury bond eased to 4.495 per cent from 4.551 per cent Monday and that on the 30-year bond dropped to 4.658 per cent against 4.691 per cent. Bond yields and prices move in opposite directions.

[Keith7]

yes the economy and unemployment rates have slowly gotten worse over the past 6 or 7 years.. and what sad is we are even in a war

[Ingleside Fan]

Originally posted by Black_Magic
Who was it on here that mentioned how well the economy is now doing??? Look at this.. It does not look like things are geting better... worse maybe..

Wall Street dives on mortgage defaultsFrom correspondents in New York
March 14, 2007 09:13am
Article from: Agence France-PresseFont size: + -

WALL Street shares took a beating overnight as data showing rising mortgage delinquencies exacerbated fears that housing woes could spread to the broader economy.

The Dow Jones Industrial Average tumbled 242.66 points (1.97 per cent) to close at 12,075.96 as the market sell off accelerated late in the day.

The Nasdaq composite index plummeted 51.72 points (2.12 per cent) to 2350.57 and the broad-market Standard and Poor's 500 index retreated 28.65 points (2.04 per cent) to 1377.95.

It was the worst day for US shares since February 27, when the Dow plunged more than 400 points amid a global stock market rout.

The selloff gathered momentum after the Mortgage Bankers Association said delinquencies for all home loans rose to a three-year high of 4.95 per cent in the fourth quarter, and to 13.33 per cent in the risky "subprime" market.

The report was "the straw that broke the backs of buyers today," said analysts at Briefing.com.

"The upward climb in delinquency rates is highly anticipated, but the release of the data is at a time of extreme market sensitivity on the issue as several subprime mortgage lenders have reported financial difficulties," said Stephen Gallagher, economist at Societe Generale.

"The process raises questions for the economy at large."

The news came at a time of heightened fears about high rates of failures in the giant mortgage sector, with "subprime" specialists that lent to borrowers with patchy credit histories at particular risk.

The market opened on a weak note after government data showed US retail sales rose a modest 0.1 per cent in February, weaker than the 0.3 per cent rise expected by Wall Street analysts and another sign of a softening economy.

Excluding the often volatile auto sector, retail sales fell 0.1 per cent for the month. Excluding both auto and gasoline, overall sales fell 0.3 per cent, the worst figure since April 2004.

"Even if the weakness in February retail sales can partially be explained by cold weather, it also reflects a downward trend in consumer spending," said Marie-Pierre Ripert, economist at IXIS Corporate and Investment Bank.

Viacom shares fell five cents to $US39.50 as the owner of MTV and Paramount Pictures said it was suing Google and its YouTube video-sharing website for "massive" copyright infringement. Google shares fell $US11.72 dollars to 443.03.

Bonds rallied in a flight to safety.

The yield on the 10-year US Treasury bond eased to 4.495 per cent from 4.551 per cent Monday and that on the 30-year bond dropped to 4.658 per cent against 4.691 per cent. Bond yields and prices move in opposite directions.

Yeah we should just give up and let the Government take care of us! The Market was over value anyway, this was just a correction. They have to find something to blame it on. The major correction last time was blamed on the .com bust. The forclosues that are happening now is becuase of bad loaning practices. Giving anyone a double mortage to get them in a house is wrong. Lenders should never have started this practice.

Forget that Just blame Bush! I is all his fault.

[AP Panther Fan]

I don't think I have it in me today to discuss controversial things!

It's Friday....I feel like lightening up, having fun and letting y'all solve all the problems of the world....;) :D

[Black_Magic]

Originally posted by Ingleside Fan
Yeah we should just give up and let the Government take care of us! The Market was over value anyway, this was just a correction. They have to find something to blame it on. The major correction last time was blamed on the .com bust. The forclosues that are happening now is becuase of bad loaning practices. Giving anyone a double mortage to get them in a house is wrong. Lenders should never have started this practice.

Forget that Just blame Bush! I is all his fault. Oh but bush was going to make things better... and just a few months on here you had folks bragging about the housing boom and pointing to it giving bush credit... guess they dont want him to have any of the blame now that it is falling to pieces.;)

[Bullaholic]

Don't worry, Blackie----the political balance in Congress has changed and eveything is going to be corrected and made right. I can't wait to be completely taken care of everyday. :D

[Reds fan]

Originally posted by Black_Magic
Oh but bush was going to make things better... and just a few months on here you had folks bragging about the housing boom and pointing to it giving bush credit... guess they dont want him to have any of the blame now that it is falling to pieces.;)

Good Grief! Blackie's back at it. Always right never wrong. I succomb to the all knowing.... :eek: :eek: :eek:

[Gp83]

Originally posted by Keith7
yes the economy and unemployment rates have slowly gotten worse over the past 6 or 7 years.. and what sad is we are even in a war
Wasn't it last month unemployment hit an all-time low?

[Ingleside Fan]

Originally posted by Black_Magic
Oh but bush was going to make things better... and just a few months on here you had folks bragging about the housing boom and pointing to it giving bush credit... guess they dont want him to have any of the blame now that it is falling to pieces.;)

That's right only one guy is to blame.

[themsu97]

way to go again dems, finding a way to blame Bush... Bush is an oil man and we all know that the realtionship between Bush in office and rising oil prices is not a mere coincidence...
however, the market is crashing due to real estate practices... who made their money in real estate? do I need to mention whitewater again... Real estate and investments soared during the Clinton administration because that is where Clinton made his money... all Presidents do this... so now the market is re adjusting to the prices now that real estate has gone down... people lose money... in a few years oil companies will be going through the same problem...

and again, why haven't the gas prices gone down and have instead gone up?
Blackie never answers that because it now cannot be only Bush's fault

[Reds fan]

Originally posted by Gp83
Wasn't it last month unemployment hit an all-time low?

Don't bother.... Blackie has converted me to the other side, there are NO indicators that will change the mind. Even though BM posts a market quote from over a week ago and the markets have rebounded from that point... he is still right and we cannot honestly debate that as feelings will win over fact every time. I feel my pain!;)

[Black_Magic]

Originally posted by Reds fan
Good Grief! Blackie's back at it. Always right never wrong. I succomb to the all knowing.... :eek: :eek: :eek: Kneel before me and Kiss my ... feet.:p

[themsu97]

of course, it is easier to blame Bush than to try and fix it and accept the reality that the media blows everything out of proportion....

I guess the tooth fairy does exist since I saw it on tv somewhere and the fact that Santa and the Easter Bunny do not have to be the fault of Bush...
katrina= Bush
rita= Bush
blizzards in Colorado= Bush, eventhough those folks, while enduring worse circumstances than the two hurricanes, did not do any complaining
fires started by arsonists in Cali= Bush is the culprit...
Whitewater= Bush

[Ingleside Fan]

Originally posted by Reds fan
Don't bother.... Blackie has converted me to the other side, there are NO indicators that will change the mind. Even though BM posts a market quote from over a week ago and the markets have rebounded from that point... he is still right and we cannot honestly debate that as feelings will win over fact every time. I feel my pain!;)

Heil, mein Führer! Blackie:)

[Black_Magic]

Originally posted by themsu97
of course, it is easier to blame Bush than to try and fix it and accept the reality that the media blows everything out of proportion....

I guess the tooth fairy does exist since I saw it on tv somewhere and the fact that Santa and the Easter Bunny do not have to be the fault of Bush...
katrina= Bush
rita= Bush
blizzards in Colorado= Bush, eventhough those folks, while enduring worse circumstances than the two hurricanes, did not do any complaining
fires started by arsonists in Cali= Bush is the culprit...
Whitewater= Bush WAR IN IRAQ = BUSH:eek:
Taking the 100 billion dollar a year surplus to a 400 BILLION dollar Deficite = BUSH:eek:

[Ingleside Fan]

Originally posted by Black_Magic
WAR IN IRAQ = BUSH:eek:

Sieg Heil!

[Reds fan]

Originally posted by Black_Magic
Kneel before me and Kiss my ... feet.:p

ROFLMAO!!! I don't feel like that anymore. And I have to keep in touch with my feelings so common sense doesn't cloud me over.

[Keith7]

Originally posted by themsu97
of course, it is easier to blame Bush than to try and fix it and accept the reality that the media blows everything out of proportion....

I guess the tooth fairy does exist since I saw it on tv somewhere and the fact that Santa and the Easter Bunny do not have to be the fault of Bush...
katrina= Bush
rita= Bush
blizzards in Colorado= Bush, eventhough those folks, while enduring worse circumstances than the two hurricanes, did not do any complaining
fires started by arsonists in Cali= Bush is the culprit...
Whitewater= Bush

ya let me tell you when Katrina hit bush sure did rush to give aid to the victims huh.. oh wait.. no that wasn't his fault... oh ya when bush told us he was certain that saddam was holding weapons of mass distruction and sent thousands of troops because of it and ended up being wrong, that wasn't bushes fault either..

duh bush can't cause natural disasters.. I thought that was common sense, but the way he responds to them and other situations really has helped this country.. let me tell you:rolleyes:

[themsu97]

I would still say that the Towers in NY and the pentagon had more to do with that but...
you are right it is Bush...

which I will have to add one more


the fact that you are an idiot and obviously influenced by the media= Bush

[Ingleside Fan]

Originally posted by Black_Magic
WAR IN IRAQ = BUSH:eek:
Taking the 100 billion dollar a year surplus to a 400 BILLION dollar Deficite = BUSH:eek:

Heil Blackie!

[Keith7]

Originally posted by themsu97


the fact that you are an idiot and obviously influenced by the media= Bush

uh oh can't win an arguement with facts, must resort to name calling to get this thread shut down asap

[Txbroadcaster]

Originally posted by Keith7
ya let me tell you when Katrina hit bush sure did rush to give aid to the victims huh.. oh wait.. no that wasn't his fault... oh ya when bush told us he was certain that saddam was holding weapons of mass distruction and sent thousands of troops because of it and ended up being wrong, that wasn't bushes fault either..

duh bush can't cause natural disasters.. I thought that was common sense, but the way he responds to them and other situations really has helped this country.. let me tell you:rolleyes:

And once again lets blame Bush when it was the LOCAL and STATE government that failed to do anything. Buses ready for evacuation NOT USED...asking for federal help( Which is supposed to be done BEFORE they come in) to late after everything.

FEMA dropped the ball..But the Local government in LA did just as well

[themsu97]

Bush told NO people to leave, as did the national guard...
but they did not go, it is not going to hit here... did you know that the moment the hurricane moved through the national guard and troops were there but Nagin told them it was okay and to leave... then the levies broke...

trust me on this... I have relatives in NO, some are crack dealers,some are successful, lost some to the flooding because in all honesty crack houses usually don't do well against raging waters... 3 of them have yet to be found or they have not called to let us know they are okay...but the levies breaking have nothing to do with Bush...
but go on believing what you see on TV and what you read... I will continue to believe those that were there

[Black_Magic]

Originally posted by themsu97
I would still say that the Towers in NY and the pentagon had more to do with that but...

Your talking about the Hijackers who flew the planes into the towers and pentagon... yep all those dirty IRAQIS!!!.... WAIT... Not one of them were from Iraq..:thinking: .... attacking Iraq for what happened to the towers would be like Roosevelt invading south africa because the japanese bombed pearl harbor.:rolleyes:

[Ingleside Fan]

Originally posted by Txbroadcaster
And once again lets blame Bush when it was the LOCAL and STATE government that failed to do anything. Buses ready for evacuation NOT USED...asking for federal help( Which is supposed to be done BEFORE they come in) to late after everything.

FEMA dropped the ball..But the Local government in LA did just as well

Wait a minute! You cannot blame anyone but Bush! He is the official Anti Christ! :p

[themsu97]

and Keith... I present facts quite a bit and you and Black never respond to those... so I will basically do and say what I need to within reason to get a point across... you are close to the same

[Keith7]

Originally posted by Txbroadcaster


FEMA dropped the ball..But the Local government in LA did just as well

you are right about that, but when a part of a country is going thru a natural disaster, and mistake have been made I would like my president to step in and help make things right.. something bush wanted no part of

[Txbroadcaster]

Originally posted by Keith7
you are right about that, but when a part of a country is going thru a natural disaster, and mistake have been made I would like my president to step in and help make things right.. something bush wanted no part of

It is not that easy..The State Government has to first ASK for them to come in. This protects states from the Federal government.

[themsu97]

good grief Blackie, turn off the biased media and talk to a few soldiers who are there, talk to people who know... Hussein put a lot of money in to those attacks...

lets talk about FDR then... who did Hitler attack in the US?

[Black_Magic]

Originally posted by Ingleside Fan
Wait a minute! You cannot blame anyone but Bush! He is the official Anti Christ! :p no the antichrist would do it on purpose.. Bush is just stupid and incompitent... he didnt mean to put us in this fix.

[Black_Magic]

Originally posted by themsu97
good grief Blackie, turn off the biased media and talk to a few soldiers who are there, talk to people who know... Hussein put a lot of money in to those attacks...

lets talk about FDR then... who did Hitler attack in the US? oh yeah!! those dirty media people...:clap: :clap: :clap: .. BTW.. Hitler declared war on the US after the japanese bombed pearl harbor BEFORE we declared war on Germany.. read up on it.;)

[Ingleside Fan]

Originally posted by Black_Magic
no the antichrist would do it on purpose.. Bush is just stupid and incompitent... he didnt mean to put us in this fix.

Sieg Heil!!!!

[LH Panther Mom]

Well, I'm leaving for the office and there doesn't appear to be anyone else around to watch this either implode or settle down. Another mod can open it - or I'll be back later. :p

[themsu97]

great Blackie... I expect to see you running for office then... your great party has done its fair share... lets see Andrew, and the other hurricanes that destroyed Florida... Bush did a great job... Clinton did an admirable job when the Hurricane destroyed South Carolina...
what makes NO different... their whiny a$$ mayor, who is incompetent and their incompetent governor, both Dems by the way... place the blame soley where it belongs...on those two

[Ranger Mom]

Originally posted by Black_Magic
Kneel before me and Kiss my ... feet.:p

Not in a million years!!

Without even continuing reading this thread...I am closing it!!

:tongue: :tongue: :tongue:

[Ranger Mom]

WOW!!!

Which one of you read my mind??:eek: