Comments on: A New Foreclosure Wave Hits The Jobless

CBS Evening News: People With Traditional Mortgages Who Have Lost Their Jobs Are Now Facing Foreclosure

[drivelphobe]

azure11...

Pretty ironic. The corporations, and unfortunately most small business as well, seem to think paying less for their labor costs is a legitimate way to increase profits. They don''t get it that as they reduce the wages, they are eliminating their customers. Profits are a result of providing quality goods and services, not hiring more and more less qualified, ignoramuses.

This can''t go on much longer. Eventually no one will work for the meager wages.

As an example, it is impossible to even get your lawn mowed by someone who knows how to edge, clean out around sprinklers, and prune trees. Most are imbeciles with a cheap mower and weed whacker from Home Depot. They think the secret to a successful business is charging less, when in actuality, most would pay much more for a good job if was worth it.

Have a great weekend.

[jowand]

1 How much does anyone think that the high price of oil in the USA has contributed to higher unemployment. Oil is much lower now, but, if you are recently unemployed it is little consolation and too late.

2 Why do we have high and unstable oil pricing in the USA, when we have total domestic oil reserves that would last about 400 years at present consumption rates.

[whatchange-2009]

Bush/Hannity/Limbaugh-Depression.

It''
''s sad folks, really sad.

Posted by whitemale08 at 12:02 AM : Nov 29, 2008 ******************** Forgive me. Maybe you could enlighten me. How can anyone who''s name is not on the note be the cause of it''s failure? It''s failure was due to non-payment. I can see where you or the lessor might blame the lender or even the broker who sold the note to another investor.

Perhaps you could tell me how:

1) A President who spends no money at all but is hobbled by a congress that spends freely.

2) Two Talk Show "Entertainers" who spout all sorts of foolery from their respective studios.

The later of the two points are in business to sell toothpaste and shaving razors. They just use the conservative point of view because is stirs your ire.

All three of which are wealthier and more prominent than yourself. You are limited to this venue, right here. How poignant.

[drivelphobe]

curse914....

There are many battles to fight. I''m unclear about your post, but perhaps you are too?

[drivelphobe]

azure11....

Job loss can be devastating. Career loss even greater. These are adverse circumstances of life. It is not always easy to prepare for this, but beginning new is necessary.

Illness can be handled through adequate healthcare and disability insurance, plus use of the accumulated assets aimed for retirement and other investments.

You are correct that many well paying jobs are being "re-engineered" into lower paying jobs. GM is in the middle of this right now, as an example. This is a perplexing problem.

Each individual must make choices regarding their lifetime work. Millions make the right decisions, but unfortunately, many more millions do not.

It still boils down to living within your means, saving for a rainy day, and personal choices. The income level doesn''t mean much if one is reckless with their money.

[drivelphobe]

tootall1014...

We are on the same page. Way to easy to get on the entitlement train by those who refuse to work. I feel like vomiting when the number of indigents, illegals and phony welfare recipients are published. Scam after scam, fraud and corruption abound and it still goes on. Perhaps this financial upheaval will cleanse our system and put an end to these leeching vermin.

Have a great day.

[perk235]

....and your point is? You want your government to assure you a job and a home? Welcome the the United Socialist States of America. Nice going Libs.
Posted by WhatChange at 08:48 AM : Nov 29, 2008
-----------
No, we want a government that does its job REGULATING financial institutions so they don''t make over $60 trillion in risky bets and need to be bailed out.

We need a government that has the interest of the widest swath of people, not just 1% of the population that are the wealthy elite.

REINSTATE the GLASS/STEAGALL ACT from 1934 that was repealed in the Gramm/Leahy/Bliley Act.

[perk235]

ALSO. IF THE TAX PAYERS HAVE BEEN FEEDING YOUR CHILDREN FOR FOUR YEARS AND YOU ARE CAPABLE OF WORKING AND ARE NOT MAKING A ATTEMPT .
Posted by tootall1014 at 10:10 AM : Nov 29, 2008
--------------
The article says:

"It is now a problem for all households: low, middle income and even higher income households. More than 2 million prime mortgages, traditional loans for people with good credit, are now delinquent."

Are the rants now going to include people who pay their bills but have lost their jobs? The two most common reasons for filing bankruptcy are job loss and sickness.

What about rants against the cowboys of the financial industries that made over $60 trillion risky bets?

[drivelphobe]

One learns, hopefully, early in life, that each individual is responsible for their own finances. Educate yourself, work hard, save and invest, prepare for the rainy days, and be prudent. Very simple and practical rules that work.

Excluding some sort of lifetime catastrophic event or circumstance, those who find themselves living on the edge financially, deserve what they get. I know many, and they are pitiful.

I hear friends say, "Life is short and I''m not going to miss any opportunity to enjoy something when I get a chance." They refuse to save and invest, always worried about the house payment, the utility bills, car payment, etc., but are always ready to take a trip to Las Vegas, dine out at an expensive restaurant, shop needlessly, and over consume.

It seems that all those who have neglected the basic common sense choices in life, are facing the consequences of such. If it means losing your home, then so be it. It is not a right to have a home, a car or anything else.

I salute those who have made something of their lives, have been financially successful, own and operate businesses and enjoy the fruits of their endeavors. It is calming to feel financially responsible and secure, especially after all the years of focused, diligent commitment to one''s business/career.

[Meg003]

beyondgreen

Thank you for the book recommendation. I looked it up at an online bookstore and found it is reasonably priced, also.

What a breath of fresh air your post is! You''ve made a positive suggestion for solving a major cause of our country''s financial woes.

[walt1944-2009]

The Great Emperor Bush II is pleased that now the "average Joe, the plumber" is getting hit with losing their homes so that they too, will have to move into shelters or live in cardboard boxes under crumbling bridges.

This is all in keeping with the Great Emperor Bush II''s plan to "STICK IT TO" the citizens of the USSA, no matter who they are, for calling him names, and for making him leave office simply because of a stupid amendment on a 200 year old piece of paper.

Meantime, the Great Emperor is making sure that the highly-paid, highly-perked, ultra-rich, but fantastically-GREEEEDY, and excessively-stupid corporate executives will be well taken care of by continuing to throw future taxpayer money at them.

How about we load the ENTIRE BUSH Family, every neocon Fascist Socialist Nazi Republican, and every corporate executive into a NASA rocket and send this entire corrupt crowd on a one-way trip to the edge of the universe!!!!

SIG HEIL, I''D LIKE A PLANET OR TWO NAMED AFTER ME!!!, BUSH!!!

[hitoyou11]

Take all the homes. Then go broke. I hope all the banks go down

[hdstretch]

So we bailed out these financial institutions when ordinary people coundn''t afford their mortgages?

I don''t think so. We bailed them out when shady investors didn''t pay their mortgages on the several homes they bought, driving the market up in the first place. I have sympathy for the homeowners who are living in their houses. They should be working.

In the meantime, the government, who bailed out the banks that hold notes on these people, have effectively bought their mortgages. Not an unusual practice. So, it is now up to the government to deicde how to deal with the crisis. I have a home, and am in no danger of hitting the streets. Wouldn''t bother me in the least if those people weren''t booted out of their houses either. They simply need to find other jobs. In today''s economy, it takes time. Let the bak add the interest that is accruing to the bottom line, and put the payments they missed onto the back end.

[wardoglrs]

*** Cheney was questioned on ABC about whether the fact that two thirds of Americans were opposed to the Iraq War had any influence on decision-making, he said that the American people get to make their input every four years and after that they can be ignored.

Will Durant who said, "Those who know nothing about history are doomed forever to repeat it."

As the economist Dr. Stuart Crane was fond of saying, %u201CThings [in the monetary world] don%u2019t just happen to happen. They happen because they were planned to happen.%u201D

It is surely time for men to think for themselves, and to throw off the authority of names so artificially magnified.
-- Thomas Jefferson, letter to William Short, August 4, 1820 (see Positive Atheism''s Historical section)


Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master... George Washington

" Anyone can become angry. That is easy. But to be angry with the right person, to the right degree, at the right time, for the right purpose and in the right way - that is not easy." --Aristotle

[wardoglrs]

"The problems we face today cannot be solved by the minds that created them" Albert Einstein

[BeyondGreen]

Not enough credit is being given to the high gas prices this past year and it''s serious damage on our economy and society. That one factor alone has caused serious stress in both individuals and businesses. A record number of homes and jobs have been lost as a direct result. And, while we are doing the happy dance around the lower prices at the pumps OPEC is announcing cuts to manipulate the prices upward again. We must get on with becoming energy independent.We can''t take another year like this past. There is a wonderful new book out about the energy crisis and what it would take for America to become energy independent. It covers every aspect of oil, what it''s uses are besides gasoline, our reserves, our depletion of it. Every type of alternative energy is covered and it''s potential to replace oil. He even has proposed legislative agenda''s that would be necessary to implement these changes along with time frames. This book is profoundly informative and our country needs to become more informed and move forward with becoming energy independent. Green technology would not only provide clean cheap energy it would create millions of badly needed new jobs. The Book is called The Manhattan Project of 2009 Energy Independence NOW. Our politicians all need to read this book.

[bjcone8559]

This cannot be fixed by throwing money at the top. Obama has it right, this country needs jobs, not bailouts.

Although government finds it necessary to prop up the financial markets, that alone will not fix the problem.

We need public works programs. Rebuild the infrastructure. Roads, bridges, schools, electrical grids, etc.

Incentives to produce and use green technology, alternative fuels.

Stop corporate welfare and end this insane war.

We MUST NOT allow the republican party to rear it''s ugly head. Do we not know by now how destructive right wing policies can be?

After the destruction left in the wakes of Nixon, Reagan, Bush I, Dubya, Gingrich, and the likes can we finally say enough is enough!

This country was built from the bottom up and became the greatest nation in history. It must now be re-built from the bottom up. Empower the people. Support the middle class. And yes, it''s time to start taking back the money that was stolen from the working class by Reagan''s reverse Robin Hood, ''trickle-down'' scam.

[nybras]

Shanev - Both sides are to blame. Rubin started this mess back when he was with Clinton.

Instead of the old finger pointing, which leads us back to square one: ask your Political rep''s How will you fix this?

[whatchange-2009]

....and your point is? You want your government to assure you a job and a home? Welcome the the United Socialist States of America. Nice going Libs.

[bladdy10]

I''ve been putting out this message for months, maybe now you will take it to heart and do something to protect your families. STOP paying your mortgage and any credit card payments if you are close to shakey ground. Take what money you have and go out in the country a bit and buy land that you will move a house to. In stead of demolition YOU can buy the salvage rights for any style house for $1.00 then just take the whole thing. Put the land in someone elses name. Go bankrupt if that is what it takes. It is not your responsibility to keep paying bankers, mortgage or credit card companies that will be getting bailed out by their rich friends in Washington while you and your family sleep on the effing streets. If you want more info then write me at bladdy10 at aol