Frontier goes Chap 11...

[becket]

BUTTERS! You need to make an internet video to save the airline industry.

Did you like the parody of the Writers Guild strike? Hilarious.
There are a lot of lessons that unions can learn from them.

That was a parody of the illegal Mexican Immigrants "striking" for a day so they can clog traffic in L.A. and wave Mexican Flags.

The funny thing about it is nobody would even notice if Canadians did the same thing.

 

[Stinkbug]

Mortgages are non-recourse; once Joe 6Pack figures out that a ding on his credit rating isn't going to kill him, the amount of jingle mail is going to skyrocket.

Hate to sound ignorant and I think I know what point you're trying to make, but that was a little too much metaphor for me to follow...you mind elaborating?

 

[PositiveRate]

Jingle mail - put the keys in the mail to the lender and walk away from the house.

 

[hawkowl88]

Quote:
Originally Posted by Andy
Mortgages are non-recourse; once Joe 6Pack figures out that a ding on his credit rating isn't going to kill him, the amount of jingle mail is going to skyrocket.

Hate to sound ignorant and I think I know what point you're trying to make, but that was a little too much metaphor for me to follow...you mind elaborating?


Ha! I'll translate for you. Non recourse mortgages mean the borrower can walk away at any time without any foreclosure negotiations. They just mail in the keys ("jingle mail") and walk away not owning or owing anything. This will glut the housing market even more leading to more people jingle mailing and prices cascading downward.

 

[climbhappy]

well, china inv corp has 200 billion to lend

China won't have extra money to prop up the US

andy,

according to the duke educated lawyer who runs china investment corp, they have 200 billion to lend. they're one of a growing number of huge sovereign wealth funds.

they just bought 100 million worth Visa'a IPO stock. bought several billion of Citi.

wouldn't this suggest they do have the money?

 

[HoursHore]

Key Labor Market Statistics in 1996 and 2008 March 1996 March 2008
1. U.S. Unemployment Rate 5.5% 5.1%
2. Number of Long-Term Unemployed 1.33 million 1.28 million
3. Average Weeks Unemployed 17.3 weeks 16.2 weeks
4. Median Weeks Unemployed 8.3 weeks 8.1 weeks
5. Not in Labor Force because discouraged over job prospects 451,000 401,000

The sky is not falling.

 

[Lear70]

Quote:
Originally Posted by Andy
Mortgages are non-recourse; once Joe 6Pack figures out that a ding on his credit rating isn't going to kill him, the amount of jingle mail is going to skyrocket.

Hate to sound ignorant and I think I know what point you're trying to make, but that was a little too much metaphor for me to follow...you mind elaborating?


Ha! I'll translate for you. Non recourse mortgages mean the borrower can walk away at any time without any foreclosure negotiations. They just mail in the keys ("jingle mail") and walk away not owning or owing anything. This will glut the housing market even more leading to more people jingle mailing and prices cascading downward.

In some jurisdictions, mortgage loans are non-recourse loans: if the funds recouped from sale of the mortgaged property are insufficient to cover the outstanding debt, the lender may not have recourse to the borrower after foreclosure. In other jurisdictions, the borrower remains responsible for any remaining debt, through a deficiency judgment.

Basically, Joe 6-pack figures out that he won't lose his car, bass boat, or gun collection if he defaults on the mortgage, puts the keys and a letter in an envelope, mails it back to the mortgage holder, then RENTS a house or an apartment for a few years until he repairs his credit enough to buy a house again.

Not all states have this ability - it varies. But, in the areas that do, they're predicting the housing market to be worse than everywhere else.

 

[learflyer]

That was a parody of the illegal Mexican Immigrants "striking" for a day so they can clog traffic in L.A. and wave Mexican Flags.

The funny thing about it is nobody would even notice if Canadians did the same thing.

Because if the canadians did it, we wouldn't be offended.......

 

[Andy]

That was a parody of the illegal Mexican Immigrants "striking" for a day so they can clog traffic in L.A. and wave Mexican Flags.

The funny thing about it is nobody would even notice if Canadians did the same thing.

Wow. Dude, google. Use it. You completely missed the mark.
I'm well aware of the Mexican work stoppage, but that was not what South Park's creators had in mind when they did that episode.

That was very transparent; why were you unable to connect the dots?

 

[Andy]

andy,

according to the duke educated lawyer who runs china investment corp, they have 200 billion to lend. they're one of a growing number of huge sovereign wealth funds.

they just bought 100 million worth Visa'a IPO stock. bought several billion of Citi.

wouldn't this suggest they do have the money?

They've got money ... for now.

Let's say my wife's a pole dancer (love your avatar, by the way) who's got a bunch of money coming in and wants to invest a bunch of her extra money. Cool. Life's good.
All of a sudden, I notice that she's starting to get cottage cheese on her legs and her 'take' is getting down to the point where she doesn't have enough extra money for me to by a bunch of Colt 45. Daaaymn. I'm bummed. I now have to settle for one quart can instead of a 12 pack.
Now the beyotch isn't even bringing home enough for me to buy my meals at Mickey D's, much less being able to buy a quart of Colt 45.
So now I have to sell all of the Colt 45s that I've stocked up on to Tyrone, Mandingo, and the rest of my hoodies just so I can keep eating at Mickey D's.


Bottom line - look at where China's money's coming from (the US). Once that money goes away, what are they going to do?