B-Man Posted December 29, 2015 Posted December 29, 2015 BERNIENOMICS 101. The day after Christmas, Bernie Sanders asked a question on Twitter: “You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?” Finance types may snicker. But I’ve seen this question asked fairly often, and it seems worth answering, respectfully, for people whose expertise and interest lie outside the realm of economics. The short answer is: “Loans are not priced in real life the way they are in Sunday School stories.” In a Sunday School story, the cheapest loans would go to the nicest people with the noblest use for the money: single mothers who need money to buy their kids a Christmas present, say. That’s splendid for the recipient. But what about the lender? Let’s say you had $150 that you really needed to have at the end of the month, say to pay your rent. Would you want to lend it to the single mother whose income is stretched so tight that she needs to borrow money for Christmas presents, or would you want to lend it to some heartless leech of a securities litigator with an 800 credit rating who happens to have left his wallet at home? C’mon. You know the answer; you just don’t want to say it. If you really need the money — if you cannot afford to turn your loan into a gift — then you lend it to the better credit risk with the higher income, not the person who may find themselves too short to pay you when the loan comes due. In aggregate, most of the money in your savings account is loaned out using this cold calculus, and unless you could afford to have that contents of that account suddenly vanish, you want it to be. That’s why poor people, on top of all the other unfairness heaped upon them, pay higher interest rates. And that is why secured loans, like mortgages, get lower interest rates than unsecured loans, like credit card balances and student loans. You’d think Bernie would have learned something about this in his 74 years on the planet.
keepthefaith Posted December 29, 2015 Posted December 29, 2015 BERNIENOMICS 101. The day after Christmas, Bernie Sanders asked a question on Twitter: “You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?” Finance types may snicker. But I’ve seen this question asked fairly often, and it seems worth answering, respectfully, for people whose expertise and interest lie outside the realm of economics. The short answer is: “Loans are not priced in real life the way they are in Sunday School stories.” In a Sunday School story, the cheapest loans would go to the nicest people with the noblest use for the money: single mothers who need money to buy their kids a Christmas present, say. That’s splendid for the recipient. But what about the lender? Let’s say you had $150 that you really needed to have at the end of the month, say to pay your rent. Would you want to lend it to the single mother whose income is stretched so tight that she needs to borrow money for Christmas presents, or would you want to lend it to some heartless leech of a securities litigator with an 800 credit rating who happens to have left his wallet at home? C’mon. You know the answer; you just don’t want to say it. If you really need the money — if you cannot afford to turn your loan into a gift — then you lend it to the better credit risk with the higher income, not the person who may find themselves too short to pay you when the loan comes due. In aggregate, most of the money in your savings account is loaned out using this cold calculus, and unless you could afford to have that contents of that account suddenly vanish, you want it to be. That’s why poor people, on top of all the other unfairness heaped upon them, pay higher interest rates. And that is why secured loans, like mortgages, get lower interest rates than unsecured loans, like credit card balances and student loans. You’d think Bernie would have learned something about this in his 74 years on the planet. But it's not fair or just. Tax the rich, tax the dead, tax wall street, steal the banks' money if necessary but healthcare and a college education should be birth rights (assuming you make it to birth).
Chef Jim Posted December 29, 2015 Posted December 29, 2015 Here's the solution. Refinance your house at 3.25% to fund your kids eduction. Problem solved.
keepthefaith Posted December 29, 2015 Posted December 29, 2015 Math is heartless. Yes and usually objective.
/dev/null Posted December 29, 2015 Posted December 29, 2015 Take out a loan on a house. Fail to pay the mortgage. The bank takes the home Take out a student loan. Fail to pay the mortgage. The bank takes your degree in African American Women's Studies in Modern Social Media with a minor in Medieval Japanese Architecture Which is of more value?
IDBillzFan Posted December 29, 2015 Posted December 29, 2015 Take out a loan on a house. Fail to pay the mortgage. The bank takes the home Take out a student loan. Fail to pay the mortgage. The bank takes your degree in African American Women's Studies in Modern Social Media with a minor in Medieval Japanese Architecture Which is of more value? The degree is always more valuable to the party of birddog because handing out pieces of paper to each is how they try to convince everyone else that they're intelligent. "I know I live in a Occupy tent rubbing my shitstained underwear on police cars, but I have a degree!!!"
DC Tom Posted December 29, 2015 Posted December 29, 2015 The day after Christmas, Bernie Sanders asked a question on Twitter: “You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?” What sense is that? Um...one is secured by real property, and the other is secured by "I sorta-kinda promise to pay, if I get a job after school and my payment isn't so much that I can't afford a new iPhone every year?"
Dante Posted December 30, 2015 Posted December 30, 2015 BERNIENOMICS 101. The day after Christmas, Bernie Sanders asked a question on Twitter: “You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?” Finance types may snicker. But I’ve seen this question asked fairly often, and it seems worth answering, respectfully, for people whose expertise and interest lie outside the realm of economics. The short answer is: “Loans are not priced in real life the way they are in Sunday School stories.” In a Sunday School story, the cheapest loans would go to the nicest people with the noblest use for the money: single mothers who need money to buy their kids a Christmas present, say. That’s splendid for the recipient. But what about the lender? Let’s say you had $150 that you really needed to have at the end of the month, say to pay your rent. Would you want to lend it to the single mother whose income is stretched so tight that she needs to borrow money for Christmas presents, or would you want to lend it to some heartless leech of a securities litigator with an 800 credit rating who happens to have left his wallet at home? C’mon. You know the answer; you just don’t want to say it. If you really need the money — if you cannot afford to turn your loan into a gift — then you lend it to the better credit risk with the higher income, not the person who may find themselves too short to pay you when the loan comes due. In aggregate, most of the money in your savings account is loaned out using this cold calculus, and unless you could afford to have that contents of that account suddenly vanish, you want it to be. That’s why poor people, on top of all the other unfairness heaped upon them, pay higher interest rates. And that is why secured loans, like mortgages, get lower interest rates than unsecured loans, like credit card balances and student loans. You’d think Bernie would have learned something about this in his 74 years on the planet. No. Being a communist he has gone into the negative since birth. He was wiser as new born. Sorry to say.
unbillievable Posted December 30, 2015 Posted December 30, 2015 Take out a loan on a house. Fail to pay the mortgage. The bank takes the home Take out a student loan. Fail to pay the mortgage. The bank takes your degree in African American Women's Studies in Modern Social Media with a minor in Medieval Japanese Architecture Which is of more value? I know you're joking, but I know someone who majored in Japanese History and Women's studies. She visited Japan (for the first time) for her senior thesis. Currently a stay at home mom -never worked a day in her life.
DC Tom Posted December 30, 2015 Posted December 30, 2015 I know you're joking, but I know someone who majored in Japanese History and Women's studies. She visited Japan (for the first time) for her senior thesis. Currently a stay at home mom -never worked a day in her life. Thesis? Or dissertation? Because they're the same thing in certain circles, so let's be clear...
unbillievable Posted December 30, 2015 Posted December 30, 2015 Thesis? Or dissertation? Because they're the same thing in certain circles, so let's be clear... Master's degree thesis. Just did a bunch of research on Japanese culture. Picked up the habit of wearing toe socks.
B-Man Posted January 9, 2016 Posted January 9, 2016 Too little........too late Bernie; BERNIE SANDERS: Bill Clinton’s behavior ‘totally disgraceful and unacceptable.’ What he should say is that Hillary’s behavior in attacking Bill’s accusers was just as bad. .
B-Man Posted January 12, 2016 Posted January 12, 2016 Sanders campaign endorsed by MoveOn.org.......... http://www.bigstory.ap.org/article/51a6be097cf34fa9a965bd84dbacc028/sanders-campaign-endorsed-moveonorg WASHINGTON (AP) — Democratic presidential candidate Bernie Sanders on Tuesday received the endorsement of MoveOn.org, a grassroots organization that has been at the forefront of liberal causes. {snip} The group was formed in response to the impeachment of President Bill Clinton, with its supporters urging Congress to censure the president and move on to more pressing matters facing the American people. BIDEN PRAISES SANDERS .
OCinBuffalo Posted January 12, 2016 Posted January 12, 2016 Sanders campaign endorsed by MoveOn.org.......... http://www.bigstory.ap.org/article/51a6be097cf34fa9a965bd84dbacc028/sanders-campaign-endorsed-moveonorg WASHINGTON (AP) — Democratic presidential candidate Bernie Sanders on Tuesday received the endorsement of MoveOn.org, a grassroots organization that has been at the forefront of liberal causes. {snip} The group was formed in response to the impeachment of President Bill Clinton, with its supporters urging Congress to censure the president and move on to more pressing matters facing the American people. BIDEN PRAISES SANDERS . Rush Limbaugh usually begins his "Operation Chaos" activities now. Chaos defined: he incites independents, and Rs to switch parties to D, to vote against whichever D is leading in the polls/primaries. The objective is to drag out the D primay process, cause donors to spend as much money as possible in the primay leaving less for the general, and cause general derision and infighting....thus, chaos. I see he is being given a head start on Operation Chaos by MoveOn. Once again, if you want something done right...put MoveOn et al in charge of doing the opposite. Rush has to be laughing today. I might even listen for the first time in quite a while, because he's bound to make this endorsement into a funny segment.
Deranged Rhino Posted January 12, 2016 Posted January 12, 2016 Paul pushes Sanders and Warren on the "Audit the Fed" bill: http://thehill.com/blogs/floor-action/senate/265401-paul-targets-warren-sanders-on-audit-the-fed-bill
Deranged Rhino Posted January 12, 2016 Posted January 12, 2016 Sanders calls out 18 CEOs for stealing trillions, outsourcing jobs, and evading taxes: (in august) Many of the CEO’s who signed the deficit-reduction letter run corporations that evaded at least $34.5 billion in taxes by setting up more than 600 subsidiaries in the Cayman Islands and other offshore tax havens since 2008. As a result, at least a dozen of the companies avoided paying any federal income taxes in recent years, and even received more than $6.4 billion in tax refunds from the IRS since 2008. Several of the companies received a total taxpayer bailout of more than $2.5 trillion from the Federal Reserve and the Treasury Department. http://www.occupydemocrats.com/bernie-sanders-calls-out-18-corrupt-ceos-for-stealing-trillions-outsourcing-jobs-and-evading-taxes/ The top 5: 1) Bank of America CEO Brian MoynihanAmount of federal income taxes paid in 2010? Zero. $1.9 billion tax refund. Taxpayer Bailout from the Federal Reserve and the Treasury Department? Over $1.3 trillion. Amount of federal income taxes Bank of America would have owed if offshore tax havens were eliminated? $2.6 billion. 2) Goldman Sachs CEO Lloyd BlankfeinAmount of federal income taxes paid in 2008? Zero. $278 million tax refund. Taxpayer Bailout from the Federal Reserve and the Treasury Department? $824 billion. Amount of federal income taxes Goldman Sachs would have owed if offshore tax havens were eliminated? $2.7 billion 3) JP Morgan Chase CEO James DimonTaxpayer Bailout from the Federal Reserve and the Treasury Department? $416 billion. Amount of federal income taxes JP Morgan Chase would have owed if offshore tax havens were eliminated? $4.9 billion. 4) General Electric CEO Jeffrey ImmeltAmount of federal income taxes paid in 2010? Zero. $3.3 billion tax refund. Taxpayer Bailout from the Federal Reserve? $16 billion. Jobs Shipped Overseas? At least 25,000 since 2001. 5) Verizon CEO Lowell McAdamAmount of federal income taxes paid in 2010? Zero. $705 million tax refund. American Jobs Cut in 2010? In 2010, Verizon announced 13,000 job cuts, the third highest corporate layoff total that year.
IDBillzFan Posted January 12, 2016 Posted January 12, 2016 Sanders calls out 18 CEOs for stealing trillions, outsourcing jobs, and evading taxes: (in august) Interestingly, that is also the top five on the Clinton donor list.
Deranged Rhino Posted January 12, 2016 Posted January 12, 2016 Interestingly, that is also the top five on the Clinton donor list. Wouldn't surprise me, and is hilarious if that's true.
OCinBuffalo Posted January 12, 2016 Posted January 12, 2016 violence against those you disagree with. great No idiot, violence against dumbasses who would presume to "take over" in a city like Philly. Violence against those who started schit with violence, and got their asses kicked by people who live with the threat of violence every day, and thus are experienced with violence, and now how to respond to it. You weren't there. You didn't see what the Communists did. They literally started schit with 2 entire neighborhoods by destroying property and attempting to physically intimidate the residents, and got their asses beat in response. Imagine if 5k Communists started walking through the Bills tailgate breaking car windows, knocking over grills and getting in people's faces. How long would it take Bills fans to respond to that? Would anybody care if they were Communists? No. Why? Because before they are Communists they are: a-holes. This had nothing to do with politics, and everything to do with protecting ourselves/property.
Recommended Posts