Pity the British's youth
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It is quite characteristic of our resident nutcase here, who will never concentrate on the thread, but will pull everyone along into his own fantasy world.Originally posted by EarlNeo:A tread of about brit youth mutating into usa sub prime mortgage tread...
But a nice read nonetheless..
As the thread develop longer, armageddon will soon break out - just to prove his own macho-ness so as to conceal his own impotence.
His impotence is seen in his constant premature release of ecstasy only to fall flat speechless wondering why his sparks did not light up the sky. -
Originally posted by Gazelle:
No one's complaining except for your comments - what's up Doc ? The sniffing giving you a headache ?
Atobe.
Is your reference piece a master piece in which we have to believe it like it was writen by God, while every other statistic and articles we read and learn should been thrown out of the window and are irrelevant to this discussion because Atobe said so?
http://www.onenewsnow.com/2007/02/financial_advisor_americans_sp.php
http://www.taipeitimes.com/News/editorials/archives/2007/08/12/2003373835
http://www.mymoneyblog.com/archives/2007/02/our-savings-rate-is-negative-should-we-worry.html
My view of your article is nothing but some sort of get rich attemp by americans blaming the banks for the easy loan and then sue the financial institute for more money.
What is your definition of under privileged and generally less educated? Do you have a article or statistic to show us the profile of those who have defaulted payment? Or are you speculating?
PS. Get over with all the panty sniffing stuff lah. it is getting boring and stale.
It is about time that you are asking for statistic - is it not ?
Coming to a dead end with all your reasoning being debunked, now as usual you are starting a new line to argue your way uselessly into another corner.
Can you handle any statistics that you asked for ?
How many times have you walked away from statistics given when you looked at it while hovering precariously over a bottomless abyss of your own foolishness ?
You cannot even handle four simple words in English - ''under privileged'' and ''less educated'' - and you want to venture into numbers ?
You are quite a joke.
Are you such an easy person to impressed ? Your standard must be pretty low if you believe that it was my masterpiece.
You are entitled to critique my views anyway you like - is anyone forcing the referenced articles for anyone to accept without question ?
You are entitled to your own views and positions as long as you can hold up your end of the debate - no one is forcing you to abandon them, but don't feel sheepish and hide amongst the flock and expect your ma-macho-ewe to help you in anyway. -
To Atobe:
These days, they have taken to being your parrot, repeating what you said so that they will look more intelligent. But less articulate than what you have posted originally.Originally posted by Atobe:
Have your Gazelle tribe been hunted into near existence by Western hunters that cause you to be so skewed in your attitude to sniff at the Westerners so hard ?
How much do you seriously understand about the sub-prime issues that warrant your disdainful views towards those caught in the sub-prime saga ?
TheSub-prime scandal is not about people in the USA living beyond their means but more of a bungle by the US Banking Regulators in letting the Commercial Banks to be lax in the credit evaluation as they try to make more money for the huge amount of cash that they are flushed with.
''Subprime lending refers to loans to people who have poor credit histories and low incomes. These high-risk housing mortgages thus come at high interest rates. Over time, these mortgages have come to be bundled into other forms of securities and sold in the global credit markets.''
Many Home Buyers were misled by creatively designed loan schemes with floating interest rates simply to allow the banks to make their huge amount of accumulated cash to get some returns.
Singaporeans have also been exposed to dubious loans with interesting interest rates to entice Singaporeans to long term home purchase mortgages; and some even encourages existing mortgages to switch banks with even more aggressively packaged loan plans at even more attractive rates - with even legal fees and stamp duties being absorbed by the banks.
Do you thinks that Singapore Banks have not been exposed in the US Sub-Prime saga - when our major banks have operating units in the various financial centers in the USA ?
Even Hongkong Shanghai Bank had to carry a heavy load of sub-prime losses with its CEO announcing that : ''HSBC had reduced the size of its US subprime book by $8bn to $41.4bn''.Originally posted by Gazelle:
subprime load are not free money, they are loans that come with very high interest, targeting at people who can barely afford what they are buying. Just like how credit card target the young and hoping they will roll over their outstanding.
If you have the mean to buy, why do you want to go for subprime? -
hahaha...what rubbish is this pric.k talking about?Originally posted by Atobe:No one's complaining except for your comments - what's up Doc ? The sniffing giving you a headache ?
It is about time that you are asking for statistic - is it not ?
Coming to a dead end with all your reasoning being debunked, now as usual you are starting a new line to argue your way uselessly into another corner.
Can you handle any statistics that you asked for ?
How many times have you walked away from statistics given when you looked at it while hovering precariously over a bottomless abyss of your own foolishness ?
You cannot even handle four simple words in English - ''under privileged'' and ''less educated'' - and you want to venture into numbers ?
You are quite a joke.
Are you such an easy person to impressed ? Your standard must be pretty low if you believe that it was my masterpiece.
You are entitled to critique my views anyway you like - is anyone forcing the referenced articles for anyone to accept without question ?
You are entitled to your own views and positions as long as you can hold up your end of the debate - no one is forcing you to abandon them, but don't feel sheepish and hide amongst the flock and expect your ma-macho-ewe to help you in anyway.
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Originally posted by Gazelle:
Another one of your premature ejaculated joy ?
hahaha...what rubbish is this pric.k talking about?
Surely you should know that the one who laughs last will laugh best ?
The kind of rubbish only a Gazelle will know how to sniff out, and with a brain in a dickhead located at the rear - surely you have calling to sniff my bottom ? -
Hey prick,Originally posted by Atobe:Another one of your premature ejaculated joy ?
Surely you should know that the one who laughs last will laugh best ?
The kind of rubbish only a Gazelle will know how to sniff out, and with a brain in a dickhead located at the rear - surely you have calling to sniff my bottom ?
What is your definition of under privileged and generally less educated? Do you have a article or statistic to show us the profile of those who have defaulted payment? Or are you speculating?????
Please stop give us the bla bla bla...bla bla bla reply because my dog is capable of doing better than that. -
Originally posted by maurizio13:
Dic.k sucker No. 1 in Singapore JB and Batam
To Atobe:
These days, they have taken to being your parrot, repeating what you said so that they will look more intelligent. But less articulate than what you have posted originally.
[/b] -
Originally posted by Gazelle:
So your dog can chirp like a gazelle as well as bla bla like your black sheep heritage ?
Hey prick,
What is your definition of under privileged and generally less educated? Do you have a article or statistic to show us the profile of those who have defaulted payment? Or are you speculating?????
Please stop give us the bla bla bla...bla bla bla reply because my dog is capable of doing better than that.
Quite a dickhead you can be not trying the least to absorb what has already been written - are you trying to show up the tiny brain stuffed into your dickhead ?
Make some effort to find out the definition of those words, if you cannot grasp simple English - until then don't ask for more then what you can chew from your plate.
Try to chew on this before you ask for more.....
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Originally posted by Gazelle:
Have you given up sniffing the collection from Victoria's Secret ?
Dic.k sucker No. 1 in Singapore JB and Batam
What about the ewes in the flock ?
Have you completed sniffing all the whiff, and now begun to be feeling bored so quickly ?
It seems that lately you are becoming attracted to the male genitalia, and like a prick stuck into a groove of an old disc player - you keep counting the dicks that flash pass your eye, and still cannot sleep ?
Soon you be feelling like a zombie -
The problem with Gazelle, is that this island's financial products do not meet the sophistication of those in America, so terms like credit history etc. sound alien to him and thus, his limited intellectual capacity fails him utterly.
A lot of loans in the US are granted only if you have significant credit history. Unfortunately, a lot of people do not qualify for them because of a lack of history. Sub-prime loans thus look attractive because they don't bother to check for credit history and other things.
This then leads on to further problems when the people in question default. The crisis exists because too many people default and then banks are reluctant to lend. Liquidity goes to zero. Simply put the crisis is a series of chain reactions that will eventually hit consumer spending if this lack of credit continues.
Kinda scary when one thinks about it. -
hahah...as usual, when you ask Atobe to back up his claim, he will go, bla bla bla bla bla bla..whats new...Originally posted by Atobe:So your dog can chirp like a gazelle as well as bla bla like your black sheep heritage ?
Quite a dickhead you can be not trying the least to absorb what has already been written - are you trying to show up the tiny brain stuffed into your dickhead ?
Make some effort to find out the definition of those words, if you cannot grasp simple English - until then don't ask for more then what you can chew from your plate.
Try to chew on this before you ask for more.....
Good one Atobe!! HAHAHAHA
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Please dont make silly baseless accusation just because you choose to suck atobe's di.ck.Originally posted by Fingolfin_Noldor:The problem with Gazelle, is that this island's financial products do not meet the sophistication of those in America, so terms like credit history etc. sound alien to him and thus, his limited intellectual capacity fails him utterly.
A lot of loans in the US are granted only if you have significant credit history. Unfortunately, a lot of people do not qualify for them because of a lack of history. Sub-prime loans thus look attractive because they don't bother to check for credit history and other things.
This then leads on to further problems when the people in question default. The crisis exists because too many people default and then banks are reluctant to lend. Liquidity goes to zero. Simply put the crisis is a series of chain reactions that will eventually hit consumer spending if this lack of credit continues.
Kinda scary when one thinks about it.
Are you now arguing the the caused of the subprime saga is not because of Americans living beyond their means by taking up huge housing loan which they cant afford?
Are you also supporting Atobe's claim that people who take up subprime loan are people who are less educated, and under previleged? Do you have statistics or news article to support his claim?
Please dont give us that bla bla bla repy... -
....... another good debatable topic has end up with Pro & Anti Govt supporter playing the NAME CALLING Game.....
No wonder the Govt don't think S'porean could think/plan/manage our own lives.
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Originally posted by hloc:
absolutely right, that's why I don't bother to discuss anymore.
....... another good debatable topic has [b]end up with Pro & Anti Govt supporter playing the NAME CALLING Game.....
No wonder the Govt don't think S'porean could think/plan/manage our own lives. [/b]
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Originally posted by Gazelle: 25 August 2007 06.16 AM
Celebrating so fast again ? Another one more of your unwarranted premature release ?
hahah...as usual, when you ask Atobe to back up his claim, he will go, bla bla bla bla bla bla..whats new...
Good one Atobe!! HAHAHAHA
Backing up my claim ?
It clearly shows, your inability to read, and have the dibilating habit of returning to issues that you dropped - due to yourself arriving at a dead-end with the issues - and after a few days have passed to bring issues up again as if though you had cleverly debunked all matters.
If you cannot understand what's posted, try penetrating this back.. -
maybe straits times reporters are using our discussions for ideas. Read today's straits times newspaper, it has a heading "Britain in the grip of home ownership crisis" in "World" section.
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Is it not characteristic in your style of bleating at others and insulting others with your own degrading sexual fetish ?Originally posted by Gazelle: 25 August 06.25 AM
Original post by Fingolfin_Noldor:
The problem with Gazelle, is that this island's financial products do not meet the sophistication of those in America, so terms like credit history etc. sound alien to him and thus, his limited intellectual capacity fails him utterly.
A lot of loans in the US are granted only if you have significant credit history. Unfortunately, a lot of people do not qualify for them because of a lack of history. Sub-prime loans thus look attractive because they don't bother to check for credit history and other things.
This then leads on to further problems when the people in question default. The crisis exists because too many people default and then banks are reluctant to lend. Liquidity goes to zero. Simply put the crisis is a series of chain reactions that will eventually hit consumer spending if this lack of credit continues.
Kinda scary when one thinks about it.----------------------------------------------------------------------------------------------------------
Please dont make silly baseless accusation just because you choose to suck atobe's di.ck.
Are you now arguing the the caused of the subprime saga is not because of Americans living beyond their means by taking up huge housing loan which they cant afford?
Are you also supporting Atobe's claim that people who take up subprime loan are people who are less educated, and under previleged? Do you have statistics or news article to support his claim?
Please dont give us that bla bla bla repy...
Still sniffing at others ?
It takes a pure dickhead to believe only in his own actions and sound that no one else can imitate any better.
Fingolfin_Noldor's piece has clearly outlined the cause of the present sub-prime crisis - and so have your own referenced articles that you have so intelligently produced but somehow not reflected in your own interpretation of the issues printed.
You seem to be the type that is grabbed by the sensational headlines, but not caring enough to pick-up the details.
Is it any wonder that you will charge into a pile and sniff at everything without any ability to discern the roughage from the refined items ?
Is this due to your uncontrollable anxiety to reach orgasmic ecstasy of victory over everything - and causing you to constantly have premature celebratory ejaculation of false joy ?
Your first referenced site was taken from a Christian Newsletter of some kind - how much have you understand from this article, besides being grabbed by its sensational headline ''Financial advisor: Americans spending more than the last dollar'' ?
How do you intend to tie the above with your second referenced site, with another sensational headline - ''A day of reckoning for Americans who lived beyond their means'' ?
From the above two referenced sites given, how have you made it relevant to this debate of sub-prime with your understanding of the materials printed in your third referenced site - with another sensational headline - ''Our Savings Rate Is (Still) Negative: Should We Worry?'' ?
Your 'brilliant reading' led you to lock yourself into a fixated view that subprime is all due to overspending - as so fervently preached from the Christian viewpoint that ''Americans spending more than the last dollar''.
Did you read from your second referenced site the following -
''given that overinvestment in the 1990s was part of the problem underpinning the recession, lower interest rates did not stimulate much investment. The economy grew, but mainly because American families were persuaded to take on more debt, refinancing their mortgages and spending some of the proceeds. And, as long as housing prices rose as a result of lower interest rates, Americans could ignore their growing indebtedness.
Even this did not stimulate the economy enough. To get more people to borrow more money, credit standards were lowered, fueling growth in so-called "sub?prime" mortgages. Moreover, new products were invented, which lowered upfront payments, making it easier for individuals to take bigger mortgages.
Some mortgages even had negative amortization: payments did not cover the interest due, so every month the debt grew more. Fixed mortgages, with interest rates at 6 percent, were replaced with variable-rate mortgages, whose interest payments were tied to the lower short-term T-bill rates.''
From your third reference site taken from an individual's blog - with his financial expertise unknown- it had this headline : ''Our Savings Rate Is (Still) Negative: Should We Worry? - did you not link the three together ?
''The problem with this data is that it doesnÂ’t separate out the very rich and the poor, and thus really reflect how the majority of people are doing. Even though the net worth numbers make things look better, the top 20% of households by wealth have 15 times the net worth of the median household.
The top 20% by income make 50% of the total income. Only half of Americans even own stock, let alone have capital gains to worry about. What would happen to these charts if you took out the top 20% richest people? Are the big earners also the big spenders? Or are the lower 80% of people both spending too much and not seeing any gains in net worth? ''
All your three referenced site besides telling of Americans spending more than they have - also confirmed the preamble of the sub-prime problem which began with the heavy borrowings, and with [i]''new products were invented, which lowered upfront payments, making it easier for individuals to take bigger mortgages''; and confirming that only the ''.. top 20% by income make 50% of the total income'' - which leaves the bottom 80% being the ones linked to the problems, with this 80% having the worst credit record holding the bulk of all the financial borrowings - as illustrated in my own previous reference given :
''Subprime lending refers to loans to people who have poor credit histories and low incomes. These high-risk housing mortgages thus come at high interest rates. Over time, these mortgages have come to be bundled into other forms of securities and sold in the global credit markets.''
The sub-prime issue is about mortgages due to low interest packages designed by the Bank for anyone to borrow without checks made; and the situation encouraged by the poor monitoring from the Regulators.
Is Fingolfin_Noldor post not the same but making it clearer from his own first hand knowledge being a resident in the US ?
Did you celebrate too early again ? Another impotent premature ejaculation of your emotions ? -
Hahaha.... I don't think real lah. We are not the only one talkin about it. Where got soooo freee to check on us all the time. This is not the X-files.... heheheOriginally posted by Daddy!!:maybe straits times reporters are using our discussions for ideas. Read today's straits times newspaper, it has a heading "Britain in the grip of home ownership crisis" in "World" section. -
Atobe,Originally posted by Atobe:[b]
Celebrating so fast again ? Another one more of your unwarranted premature release ?
Backing up my claim ?
It clearly shows, your inability to read, and have the dibilating habit of returning to issues that you dropped - due to yourself arriving at a dead-end with the issues - and after a few days have passed to bring issues up again as if though you had cleverly debunked all matters.
If you cannot understand what's posted, try penetrating this back..
You have mentioned that the profile of the subprime borrowers are mainly the under previleged and less educated. My question to you is very simple, do you have any supporting facts to back up your claim because I suspect that you are making up story to suit your argument that the problem with subprime is not due to the americans living beyond their mean but rather the banks offering the subprime loan to stupid and dumb people like you. -
i am Kay Poh here
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American's sub-prime issue again shows how smart the Americans are. This is my logic.
1) Banks in America offered mortgage loans like free money by a design of the loan structure quite sophisticated that it is not seen in Singapore. Innovation!
2) People on the streets, especially those who are rejected by banks' credit analysts, take up the loan since it is free and requires little or no down-payments.
3) Why I say Americans are smart people because they repackage the high risk loans into mortgage backed securities. Some even issue CDOs on these loans. They then sell these securities, targeting the rich idio.ts mainly in Europe.
4) People on the street default and whoever bought this securities made big losses.
5) So who is the big winner ? Investors lost, Banks lost but rescued by central banks, people on the street lost because they are made bankrupt. The main winners are the developers and the economy.
6) The people who are made bankrupt only remain bankrupt for not many years. they come out of it and start borrowing again.
Americans are really smart and they screw.ed the Europeans through their investment bankers.
Feel free to correct me. I am open. -
the straits times article gives some info about the state of some property sectors in the UK at the moment.Originally posted by hloc:Hahaha.... I don't think real lah. We are not the only one talkin about it. Where got soooo freee to check on us all the time. This is not the X-files.... hehehe -
I am sure the next one will be australia.Originally posted by Daddy!!:the straits times article gives some info about the state of some property sectors in the UK at the moment. -
Originally posted by Gazelle:
No more premature ejaculation of joy ? Are you serious ?
Atobe,
You have mentioned that the profile of the subprime borrowers are mainly the under previleged and less educated. My question to you is very simple, do you have any supporting facts to back up your claim because I suspect that you are making up story to suit your argument that the problem with subprime is not due to the americans living beyond their mean but rather the banks offering the subprime loan to stupid and dumb people like you.
Did you not read what has been so clearly printed in my post on 25 August 2007 at 12.29 PM on Page 9 of this thread ?
They were taken and organise from your own referenced site - are you disputing the facts stated ?
Everyone is talking about the ''sub-prime issue being related to mortgage bust due to the easy credit that is dispensed by the US Banks without any credit checks, and with these banks not properly regulated by the US Bank Regulators'' - only the stupendously brilliant Gazelle will believe that the sub-prime issue is due to ''Americans living beyond their means'' ?
Can you handle statistics ?
Are you disputing the understanding of you own referenced site ?
Try not to open a new line of argument by asking for statistics, as we all know your intelligence in handling numbers.
When a Gazelle try to impress without substance, no one can appreciate your stupendous effort.
Stop being a dickhead, then maybe we can stand on equal heights.
Gazelle without horns not appreciated -
Originally posted by Gazelle:
I am sure the next one will be australia.
What happened to any statistics to base your statements on, or is this another one of you wild charge inspired by some voodoo flights of fantasies ?