You can simply solve this by applying a negative margin that equals the width or height of the element.
For an element of 100px height that is positioned to the top you will apply margin-bottom:-100px;
For an element of 100px height that is positioned to the bottom you will apply margin-top:-100px;
For an element of 100px width that is positioned to the left you will apply margin-right:-100px;
For an element of 100px width that is positioned to the right you will apply margin-left:-100px;
cut & paste css snippets:
.top
{
postion:relative;
top:-100px;
height:25px;
margin-bottom:-25px;
}
.bottom
{
postion:relative;
top:100px;
height:25px;
margin-top:-25px;
}
.left
{
postion:relative;
left:-100px;
width:25px;
margin-right:-25px;
}
.right
{
postion:relative;
left:100px;
width:25px;
margin-left:-25px;
}
And the reworked example code becomes then:
.thetext
{
width:400px;
background:yellow;
border: 1px dashed red;
margin:50px;
padding:5px;
font-weight:bold;
}
.whiteblob
{
position:relative;
top:-140px;
left:70px;
width:200px;
height:50px;
margin-bottom:-50px;
border: 4px solid green;
background:white;
font-size:2.5em;
color:red;
}
.footerallowedwhitespaceinblue
{
height:10px;
background-color:blue;
}
.footer
{
background-color:grey;
height:200px;
}
<div class="thetext"><script type="text/javascript">for(c=0;c<50;c++){document.write("Lorem ipsum dolor est, ");}</script>
</div>
<div class="whiteblob">
buy this!
</div>
<div class="footerallowedwhitespaceinblue">
</div>
<div class="footer">
</div>
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