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Ron Paul 2012!!! Your thoughts on who we should pick for our "Cause"?

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GP73LPC

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^Our country has been a circus since we went into nam. It has been a second rate circus since 2000 when when we elected president kindergarten cowboy.

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i like that...


he is a fucking retard !!!

but you're correct... since he got into office our representatives have lost their fucking minds !!!!
 

whodare

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DiscoBiscuit

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And now the government (Fannie Mae and Freddie Mac) guarantees 90% of all new home mortgages.

FHA provides 90% of loans. PMI insures all FHA loans. If the taxpayer payed what amounts to PMI, the millions of foreclosed homes around the country wouldn't be in hands of private banks.
 
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B

BrnCow

Paul returns to DC


Rep. Ron Paul (R-Texas) took a break from his presidential bid to pursue one of his favorite pastimes — criticizing the Federal Reserve.

Paul returned to Capitol Hill on Wednesday to question Fed Chairman Ben Bernanke, who was appearing before the House Financial Services Committee to deliver his semiannual testimony.

The longtime central bank critic and author of End the Fed opened with a lengthy critique of the central banking system, which he maintained is a wrongheaded experiment that has fueled bubbles and bursts in the financial system.

"Nobody's smart enough to have central economic planning," he said. "Our time has come for serious discussion on monetary reform."

"The Fed's going to self-destruct eventually anyways," Paul added later.

He went on to criticize the Fed for its monetary policy, reiterating his longstanding desire for currency backed by hard assets like silver and gold. He pressed Bernanke on why existing fiat currency couldn't coexist with hard currency like silver.

"You love paper money. I believe money should be honest," he said.

Paul went so far as to hold up a silver ounce to Bernanke, explaining that that tangible item had appreciated in value to the point that what bought four gallons of gas in 2006 now could buy 11 gallons.

A bemused Bernanke listened to Paul's lengthy speech, finally responding with, "First of all, good to see you again."

He went on to say he would be willing to discuss the idea of a parallel currency with Paul in the future.

Before leaving shortly after concluding his exchange with the Fed chairman, Paul asked Bernanke if he purchased his own groceries. Bernanke said he did.
 
how much will it cost to put gold behind every dollar? ...buying gold using currency( not backed by gold) to back currency( not backed by gold ) hmmn ...will need twice as much money as already exists..so a pile of gold can gather dust
 

SpasticGramps

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FHA provides 90% of loans. PMI insures all FHA loans. If the taxpayer payed what amounts to PMI, the millions of foreclosed homes around the country wouldn't be in hands of private banks.
Obfuscation. As these loans continue to go belly up the taxpayer is on the hook for bailing them out.

New York Times
The federal government created Freddie and Fannie to increase the availability of loans. Largely because of investors’ belief in an implicit government guarantee, these so-called government-sponsored entities were able to lower the cost of millions of mortgages. But during the housing boom, they misused the government’s support to enrich shareholders and executives by backing millions of shoddy loans. Fannie and Freddie lost more than $30 billion, in part as a result of the deals, losses that were borne mostly by taxpayers. The portfolio of the two firms is worth roughly $1.5 trillion. The collapse of the market for mortgage-backed securities has made them more crucial to the current functioning of the housing market. The pair and the Federal Housing Administration together now guarantee about 90 percent of all new mortgages, far above their historic level.
The bad news is that foreclosures continue at a record pace and, according to Case Shiller index, home prices continue to fall. Housing is nowhere near a bottom. Meaning more and more bailouts will be needed in the future since, heaven forbid a creditor take a loss. Losses are only for taxpayers.

Mortgage giant Fannie Mae asks government for almost $4.6 billion after posting 4Q loss
By Associated Press, Published: February 29
WASHINGTON — Mortgage giant Fannie Mae said Wednesday that it lost money in the fourth quarter and is asking the federal government for nearly $4.6 billion in aid to cover its deficit.
Washington, D.C.-based Fannie said it lost roughly $2.4 billion in the October-December quarter, stung by declining home prices. Revenue was about $4.5 billion.

The government rescued Fannie and sibling company Freddie Mac in September 2008 to cover their losses on soured mortgage loans. Since then, a federal regulator — the Federal Housing Finance Agency — has controlled their financial decisions.

Taxpayers have spent more than $150 billion to prop up Fannie and Freddie, the most expensive bailout of the 2008 financial crisis. The government estimates that figure could top $259 billion to support the companies through 2014 after subtracting dividend payments.
Given that government estimates are always wrong. I reckon the number will "unexpectedly" be much much higher.
 
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SpasticGramps

Don't Drone Me, Bro!
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Rasmussen ought to try an electoral experiment. They should add somebody to the poll like Archie Bunker or Billo, add a lil' perspective.
I take one of two things away from that. Either you think Obama is so weak that Bozo the Clown could beat him or that Americans are so mindless that they can't tell the difference. :dunno:
 

bentom187

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DiscoBiscuit

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The bromance is over. Ron Paul has a negative add for Mitt. Mitt's got a problem though. He's on board with the Blount amendment and that lost him the presidency. Mitt looks as whacked as Santorum and Romney's potential VP, VA Governor Bob McDonald is vaginal probe boy.

When Mitt said he didn't want anything to do with contraception between married couples, he was genuine - for the first time, if only for two seconds. It only took an hour to flip. I get why he said he misunderstood the question but it didn't float very well.
 

DiscoBiscuit

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Obfuscation. As these loans continue to go belly up the taxpayer is on the hook for bailing them out.

New York TimesThe bad news is that foreclosures continue at a record pace and, according to Case Shiller index, home prices continue to fall. Housing is nowhere near a bottom. Meaning more and more bailouts will be needed in the future since, heaven forbid a creditor take a loss. Losses are only for taxpayers.

Mortgage giant Fannie Mae asks government for almost $4.6 billion after posting 4Q loss
Given that government estimates are always wrong. I reckon the number will "unexpectedly" be much much higher.

If you get an FHA, you have to front PMI. If the loan defaults, PMI pays the default. Obfuscation is your word. I gathered your other post suggests gub gets in housing and prices go through the roof. That didn't happen until we made bonds rates unattractive. All that potential bond money was too much for the housing industry because there weren't enough solvent buyers. All that activity spiked home values.

Home values may still be falling but that's not the same thing as covering default mortgages. My neighbor's default might have ramifications should I choose to sell my house sooner than later. I'm not helping pay off his default. Home values soared when inventories were comparatively low. Now, we have millions of homes with nobody in them. Lots of inventory and no buyers, another aspect that lowers home values.
 

DiscoBiscuit

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I take one of two things away from that. Either you think Obama is so weak that Bozo the Clown could beat him or that Americans are so mindless that they can't tell the difference. :dunno:

What I took is the guy with what, 10%? of his own party's support is polling as winning the presidency. Not unlike Congress polling in near, single digits yet individual congressmen poll in the 70 percentile, it's a head scratcher.
 

SpasticGramps

Don't Drone Me, Bro!
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No PMI with FHA mortgages

By Don Taylor, Ph.D., CFA • Bankrate.com
Dear Dr. Don,
I currently am buying a home and will have to pay private mortgage insurance because I am using a Federal Housing Administration loan. I am getting the house for $317,000 and it appraises at $339,000. The house needs at least $50,000 in upgrades that I will be doing over the next year or so.
Do I pay the points now to get my interest rate at 5 percent, or just take the 5.5 percent interest rate and not pay points? Someone told me I have to pay PMI for a minimum of seven years with FHA and the only way out is to refinance. Having said that, why would I buy down only to refi in a year? The monthly difference is $98 and I would pay back the points in less than 18 months.
Can I get out of PMI if the house appraises well, or do I have to pay seven years worth regardless?
-- Marty Mortgage
Dear Debbie,
FHA loans don't have private mortgage insurance. Instead, the loans carry a government guarantee and you pay a mortgage insurance premium for that guarantee.
The premium is typically paid in two parts: an upfront mortgage premium paid at settlement equal to 1.75 percent of the loan amount for a new loan (1.5 percent for a streamlined refinancing), which can be added to the loan amount; and an annual premium of 0.5 percent to 0.55 percent spread out over the year and paid with your monthly mortgage payment. Fifteen-year mortgages have lower annual premiums.
When an FHA-insured loan is refinanced, a partial refund from the old premium may be applied toward the upfront premium required for the new loan. The amount of the potential refund is based on how long the original mortgage was in place.
Some borrowers don't pay an upfront mortgage insurance premium. Those borrowers pay a higher annual premium and that premium stays in place over the life of the loan. If you pay an upfront mortgage insurance premium, the annual premium stays in place until the loan-to-value of your mortgage reaches 78 percent of the initial sales price or the appraised value of your home, whichever was lower. The premiums must be paid for at least five years.
Not PMI insurance you just pay more points to get the FHA loan. Same thing as going to the loan shark. Defaults are eventually paid for by the taxpayer.

For private loans you can get out of PMI by either putting the 20% down or by taking out a second "piggy back" loan 80/10/10 or 80/15/5.

It's easy as pie to get out of PMI and that's why no one pays it.
 
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ShroomDr

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At this point.... i was going to vote for Dr Paul in my primary (which is proportional)... BUT
MI was proportional too, and Dr Paul didnt receive one delegate vote....

So perhaps my vote will be better spent (heard) voting for the Anti-Romney... As keeping Romney from reaching a majority is THE ONLY WAY Dr Paul wins the GOP nomination....

Dr Paul needs to run 3rd party to have any real effect on the country... pretty sure weakening Romney might be the best way to facilitate.
 

SpasticGramps

Don't Drone Me, Bro!
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What I took is the guy with what, 10%? of his own party's support is polling as winning the presidency. Not unlike Congress polling in near, single digits yet individual congressmen poll in the 70 percentile, it's a head scratcher.
Even though he's only got 10% in the the poll you have to pick one or the other. My guess is that O is pretty weak. I still think he wins in November though.
 
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