Official GOP Convention thread

#402
#402
volinbham said:
As far as I know Ryan said Obama visited the plant as a candidate in 2008 (Feb I think) and told them with government support the plant should be around for the next 100 years.

The plant closed in Dec 2008.

Press is claiming Ryan is blaming the closing on Obama eventhough Obama wasn't Pres at the time.

Ryan's claimed point was that Obama told people that government help would save the plant but that didn't turn out to be true - the early bailout from W and later bailout from Obama did not result in the plant coming back on line. Ergo, government support was not the magic bullet to keep the plant alive. It was a point about believing in government as the solution for businesses.

Press is over-reacting. Ryan didn't lie about anything here - he specifically said Obama visited as a candidate and never claimed it was Obama's fault it closed.
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This is a non issue.

Here is a article from the Detroit Free Press about this.

Separating fact from fiction in GOP's jabs at Janesville plant closure | Politics/Election 2012 | Detroit Free Press | freep.com
 
#403
#403
bamawriter said:
I think the plant actually closed in '09, but the closing announcement came in '08. Same difference I guess.
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From what I heard on the radio, they stopped making cars in 08, but continued making SUVs until 2009 when it was completely shutdown.

But who cares? If I recall that wasn't his point. I can't remember particulars but I remember thinking his message wasn't that it was Obama's fault (I believe he even said Obama was dealt a rough deck when he took over), but that Obama's policies will not help, and his promises are empty.

Then again, I tend to read too much in between the lines.
 
#404
#404
lawgator1 said:
I really doubt anyone is voting based on that particular misrepresentation by Ryan. There's a lot of distortion by both sides. I suppose it is a little more lame since he made it sound like it was right around the corner from his house or whatever.
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Ever been to Janesville Wisc? Everything is right around the corner from everyone's house.
 
#405
#405
Weezy said:
I remember thinking his message wasn't that it was Obama's fault (I believe he even said Obama was dealt a rough deck when he took over), but that Obama's policies will not help, and his promises are empty.

Then again, I tend to read too much in between the lines.
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That was exactly the point - the press reaction is a reaction to something he didn't say and wasn't saying.
 
#406
#406
SIAP - confirmed that Clint Eastwood is the "mystery speaker".

"It's half-time in America and time to fire the current coach?"
 
#408
#408
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#409
#409
MG1968 said:
my mistake, mortgage rates were around 18%
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Mortgage rate was the highest during the Reagan years.

It can be argued that the interest rates of the
1980's was due to Carter polices. Carter was a terrible president but he had a few good moments.

Times were tougher in the 1980's than any time I can remember. Things go worse during Reagans first few years then things got better. Reagan has to get credit for turning things around but he was far from the conservative some claim he was. The Tea Party would not be high on Reagan if he were in office today and governed the way he did in the 1980's.


Yearly Average Mortgage Rates | eHow.com


The 1970s
In the early 1970s the average mortgage rate was about 7.5 percent. 1972 was the low year for the decade, with an average rate at 7.38 percent. Rates in the rest of the 70s stayed in a range of 8 to 9 percent until 1978. The average 30-year mortgage rate jumped above 10 percent in November 1978 and the average for the year was 9.64 percent. In 1979, the average mortgage rate was 11.20 percent

The 1980s
The 1980s saw double-digit mortgage rates. In 1980, the average rate was 13.74 percent. It got worse, as 1981 and 1982 saw average rates of 16.63 and 16.04 percent, respectively. Mortgage rate averaged in the 12 to 13 percent range for the next few years and then continued lower. 1986-1989 saw average annual mortgage rate stay in a tight range of 10.2 to 10.3 percent.

The 1990s
Starting at 10.13 percent in 1990, the average mortgage rate dropped by about one percent a year to 7.31 percent in 1993. The average rate in 1994 was 8.38 percent, followed by three years with rates in a range of 7.6 to 7.8 percent. In 1998, the rate dropped to just under 7 percent before increasing back to 7.44 percent in 1999.
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History Of Mortgage Interest Rates | Bankrate.com


In the early 1980s, mortgage interest rates brushed the stratospheric highs of 18 percent and even 19 percent. Imagine trying to get a home loan with an interest rate of 18 percent. At that rate, the mortgage interest deduction would be a very lucrative income tax perk, but the monthly payment on a loan would be far more painful than a typical mortgage payment today.
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#411
#411
volinbham said:
SIAP - confirmed that Clint Eastwood is the "mystery speaker".

"It's half-time in America and time to fire the current coach?"
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aaah shoot... I was hoping it would be Jenna Jameson

s-JENNA-JAMESON-MITT-ROMNEY-large.jpg



"I'm very looking forward to a Republican being back in office," Jameson said while sipping champagne in a VIP room at Gold Club in the city's South of Market neighborhood. "When you're rich, you want a Republican in office."
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#414
#414
Gramps said:
link please
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Call your parents and ask them

People literally couldn't get mortgages (sound familiar?). Most people did private mortgages between the buyer vs seller

30 years T-Bonds were paying 14%. It's a miracle we made it through that
 
#416
#416
VolsNSkinsFan said:
Call your parents and ask them

People literally couldn't get mortgages (sound familiar?). Most people did private mortgages between the buyer vs seller

30 years T-Bonds were paying 14%. It's a miracle we made it through that
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I don't need to call my parents. I remember it well. Was in the Real Estate business late seventies early eighties. Mortgages were not hard to get during Carter or Reagan years.
Do some checking. I guarantee you rates were much higher in the early 80s. I bought a home in '83, assumed the loan at 12.75% and was excited to get that rate.

Lots of money was made in real estate in 70s and 80s. I don't know where you get people could not get loans, you are 100% wrong.
 
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#417
#417
Mortgage Brokering: A Short History (part 1 of 2) - Scotsman Guide

The Wall Street Journal reported that the prime rate hit 21.5 percent in October 1980. Thirty-year fixed mortgages were written at 16.5 percent. Thirty-year U.S. government bonds were offered at 15 percent. Overnight, the financial world was turned upside down.
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The conventional mortgage market started to break in the early '80s. S&Ls closed their loan departments in response to deregulation and soaring interest rates. Commissioned loan representatives at many S&Ls were dismissed.
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For the mortgage industry, the 1980s started with turmoil and change and ended as a different industry. Thirty-year, fixed-rate mortgages increased to more than 16 percent in the early 1980s and steadily declined to greater than 10 percent in 1989.
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im 100% wrong in your book because you sold FHA and VA loans, while we were not dealing with an FHA/VA loan. Different ball park. But here is a link anyway to prove you wrong

Here is a blog from an Econ teacher at the management school at U of Michigan, describing the early 80s

CARPE DIEM: How About First Comparing Today to Early 1980s?

Prime Rate
1981: 20.5%
2008: 4% (Current)

Inflation
1980: 14.8%
2008: 3.7% (October)

Unemployment Rate
1982: 10.8%
2008: 6.5% (October)

30-Year Mortgage Rate
1981: 18.5%
2008: 6.04% (Current)
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#418
#418
In '78 & '79 I sold enough amortization schedules to real estate agents to pay for about half my Apple II, disk drives and printer because of all the owner financed mortgages and 2nd mortgages carried by the seller. That was in Chattanooga. Can't speak about any other part of the country at that time.

Applesoft was a neat software language. Would have been much better with built-in routines that handled insignificant zeros.
 
#420
#420
VolsNSkinsFan said:
Mortgage Brokering: A Short History (part 1 of 2) - Scotsman Guide

im 100% wrong in your book because you sold FHA and VA loans, while we were not dealing with an FHA/VA loan. Different ball park. But here is a link anyway to prove you wrong

Here is a blog from an Econ teacher at the management school at U of Michigan, describing the early 80s

"Prime Rate
1981: 20.5%
2008: 4% (Current)

Inflation
1980: 14.8%
2008: 3.7% (October)

Unemployment Rate
1982: 10.8%
2008: 6.5% (October)*

30-Year Mortgage Rate
1981: 18.5%*
2008: 6.04% (Current)"


CARPE DIEM: How About First Comparing Today to Early 1980s?
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Actually we did most of our financing. through S&L's. we did do some FHA and VA loans. You make the statement people could not get loans; that is bs. I know this first hand.

In your post I just quoted you are showing
the prime loan rate at 20.5% in 1981,
you showed mortgage rates at 18.5% in 1981. Who was the President in 1981?

You may be very knowledgeable in stocks, definitely appear to be. I would not try to argue you on that topic. When you say interest rate were higher during Carter than they were during Reagan you are 100% wrong.

Reagan did turn things around but it did get worse before it got better. Things were bad under Reagan. There were so many retail business that went our of business under Reagan, I transitioned from residential sales to business liquidations. l liquidated stores in several states.
 
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#424
#424
Eastwood having a fake conversation with the President talking to an empty chair. At times ingenious. At times embarrassing.
 
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