If "Its the Economy, Stupid ..."

[IdaBriggs]

What are the numbers for foreclosures and bankruptcies? Where do our folks find them? Every time the "cheap labor conservatives" try to say good things about the economy, then the bankruptcy and foreclosure numbers need to come out!!!

[Frodo]

1. So you didn't vote for Gore then?

[IdaBriggs]

2. Voted for Gore...

...partly because of the economy (amongst a thousand and one other reasons I felt he would be a better choice than Wrong Way). Why are you asking? I am referencing bankruptcies and foreclosures because of the (record!!!) large numbers of friends who are currently in foreclosure and/or declaring bankruptcy; I think these numbers will demonstrate that the economy is NOT getting stronger for the average American. In Michigan we also have a HUGE number of "For Sale By Owner" houses on the market, partly because people can't "break even" on the house if they pay real estate commission (and want to get out from under the mortgage before they lose everything). Do you think I am missing something important in the argument? :) Best, Ida

[Frodo]

4. Ok,

You knew then that the "record" Bush is breaking was set just a few years ago?

[IdaBriggs]

5. To be frank...

I'm like a lot of Americans who pays more attention when bad things are happening to people I know. I remember when things got rough in 2000 -- real rough especially for my husband and I as our business took a beating and we ended up $150K in the hole. We managed to survive that (barely) without declaring bankruptcy by working multiple jobs and doing the ramen noodle/peanut butter thing, but our (used to be middle class) hardworking friends are beyond desperate at the moment. So, back to my question -- where does one find the numbers? :)

[Frodo]

6. You're my hero!

Ok, I jest. But really only a little bit.

I helped my brother through a similar situation. His debt wasn't as bad (say $30,000 in credit cards), but he had only made $10,000 the previous year.

Back when I was making personal credit decisions for the bank, I once approved a loan for a guy who had recently declared bankruptcy (about three years previous). Now we were a VERY conservative lender, and that KILLS your credit report, but I was able to verify that he had taken two FT jobs, gone back and re-payed all of his debts even though he had been legally freed from those obligations.

Your credit report is supposed to be a numerical reflection of your "character" (one of the key "C's of credit") - or your likelihood of repaying the loan assuming you possibly CAN. What better character is there than to repay a loan even when you CAN'T???

As for your question? Sorry, I don;t have a link for those stats. They aren't one of the numbers I follow.

Have a good evening! :hi:

[Warpy]

3. I hate to break it to you

but most of the people in this country didn't do well during the Clinton years. Oh, they had jobs, but they were still getting a little more behind every year as prices continued to inch upwards and wages didn't.

Not only did Gore represent more of the same, he failed to tell people who had been taking a beating for 20 year just what the hell he was going to do for them.

Bush offered them the illusion of a tax cut. OK, so we now know it was typical GOP bait and switch, cutting a few pennies off the Fed bill in order to raise it by dollars on the state bill, but even the illusion was more than the Democrats were offering in 2000.

Yes, it's still the economy. It's high time the party recognizes it.

[cornfedyank]

7. Do you know when the debate on raising the debt ceiling is to be?

I think it is late september. $7,375,955,543,568 and counting.

http://www.brillig.com/debt_clock/

[seabeyond]

8. my story, walking downtown saw bankruptcy court

opened door to two men standing there. huge smile i asked, with bushies economy, how is business. the stood there surprised for a minute and then one said reall good, .......thank you. and i busted up laughing. laughed all the way down the street, wink

bankruptcy is way up. dont know the numbers