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New CH.com Forum › Daily Chat › General Posts › Flipping into a 3rd world status

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Flipping into a 3rd world status (Read 1057 times)

artonio7

Ex Member

Flipping into a 3rd world status
Sep 28^th, 2008 at 9:59pm

I often wondered how flipping houses worked... it's easy to see how all of the key ingredients were in place to help create the financial mess that we're in today.

Here's a link to how it worked...
Multimedia File Viewing and Clickable Links are available for Registered Members only!! You need to

Thought it was interesting.

with warm regards,
Tony

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Brew Ex Member	Re: Flipping into a 3rd world status Reply #1 - Sep 28^th, 2008 at 10:05pm You thought it was interesting. I thought it was stupefying. And so is this bailout.
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Charlie CH.com Alumnus Offline Happy to be here Posts: 18971 Jamestown, NY Gender:	Re: Flipping into a 3rd world status Reply #2 - Sep 29^th, 2008 at 1:26am I never thought of looking up these late night ponzi schemes and the like on line. Why, I don't know. It's on tv all over the place it seems. Like Brew said, it's interesting. Charlie Multimedia File Viewing and Clickable Links are available for Registered Members only!! You need to or
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Brew Ex Member	Re: Flipping into a 3rd world status Reply #3 - Sep 29^th, 2008 at 7:29am Tony said it was interesting. I said it was stupefying. I know - big deal. Just trying to make a point about how speechless the whole thing leaves me.
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Kirk

CH.com Alumnus

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VINIMUS, VIDIMUS, DOLAVIMUS

Posts: 2393
Harts Lake, WA
Gender: male

Re: Flipping into a 3rd world status
Reply #4 - Sep 29^th, 2008 at 8:58am

Ponzi schemes, even those promoted by the government have been around for years. Take Social Security for instance. Next look at the lending laws passed by Congress that the Clinton Admin came up with and both sides of the Aile approved in the early 90s. And everything in between. And you think Bush the Younger is bad news. Guess where all this came from while you weren't looking.

Smiley

Multimedia File Viewing and Clickable Links are available for Registered Members only!! You need to

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BarbaraD

CH.com Alumnus

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Hugs to ya

Posts: 8333
Douglasville, TX
Gender: female

Re: Flipping into a 3rd world status
Reply #5 - Sep 29^th, 2008 at 9:22am

It really isn't anything new -- go back to the 80s and take a look at what was happening there.

The fat cows take out too much and WE the little guys (taxpayers) bail them out. It's just the American way... the rich get richer and the little guys get screwed.... I'm just waiting for my numbers to come up on the lottery so I can be on of the rich guys...

Hugs BD

What don't kill ya, Makes ya stronger!

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George CH.com Moderator CH.com Alumnus Offline Black-Billed Magpie Posts: 8126 Boise, Idaho USA Gender:	Re: Flipping into a 3rd world status Reply #6 - Sep 29^th, 2008 at 10:54am Well, at least it wasn't tulips this time: Multimedia File Viewing and Clickable Links are available for Registered Members only!! You need to or Madness of crowds. Best, George
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BarbaraD CH.com Alumnus Offline Hugs to ya Posts: 8333 Douglasville, TX Gender:	Re: Flipping into a 3rd world status Reply #7 - Sep 29^th, 2008 at 11:01am LMAO -- George you just have WAAAY too much time on your hands.. Hugs BD
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BMoneeTheMoneeMan

CH.com Alumnus

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In remembrance of KingCazman.
RIP

Posts: 2674
Portland, OR

Re: Flipping into a 3rd world status
Reply #8 - Sep 29^th, 2008 at 10:06pm

That is the exact same thing that happened in the 90s with the stock market. Everything you touched turned to gold. You could buy an index fund as a place to park money like a money market.

Then the bottom dropped out and people learned that stocks go up AND down. Like that was a shocker and required new regulation.

People are learning that you can not buy a home with no money down and think that it can only go up. Those who didn't know that before are leading us to new regulation in banking and real estate lending.

"Fool me once, shame on, shame on you. Fool - can't get fooled again"&&&&&&Think of how stupid the average person is, and then realize half the population is stupider than that.&&&&

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