I would prefer debt forgiveness......

Debt moratoriums would probably bankrupt the big banks.

Sounds like a plan!

But since the big banks  borrow at 0% interest and lend at between 4% and 29% little money would be lost except for their overhead. So we unemploy  a few thousand bankers.

Serve them right!


Accounting Identities - NYTimes.com

Oh, and widespread debt forgiveness (or inflating away some of the debt) would solve the problem.

But what we actually have is a climate in which it’s considered sensible to demand fiscal austerity from everyone; to reject unconventional monetary policy as unsound; and of course to denounce any help for debtors as morally reprehensible. So we’re in a world in which Very Serious People demand that debtors spend less than their income, but that nobody else spend more than their income.

And the slump goes on.

Should we tell them....

Nah.

Let the ex Soviets tell them. You fuck with Western elites they bankrupt you! So stay bought, God damn it. China is where it's at because the West financed them and shipped our jobs over there.

Period!


UPDATE 1-China minister says dlr printing out of control | Reuters

* China commerce minister says dollar printing hurting China

* Says exporters are prepared for exchange rate changes

* Says export growth next year to be stable, imports to soar

BEIJING, Oct 26 (Reuters) - Dollar issuance by the United States is "out of control", leading to an inflation assault on China, the Chinese commerce minister said in comments reported on Tuesday.

Chen Deming, speaking at a trade fair in southern China, said that exporters had done a good job of preparing themselves for exchange rate changes as well as rising labour costs, but were suddenly confronted with new challenges.

"Because the United States' issuance of dollars is out of control and international commodity prices are continuing to rise, China is being attacked by imported inflation

I think sometimes the Repubs are brain dead.....

You would think Jerry Brown, "moonbeam", would be easy to beat. Just remind the Dems that he campaigned for Ralph Nader. Like Michael Moore, Phil Donahue, Susan Sarandon etc. These people gave the election to Bush after they helped the Greens in 2000 fuck over AlGore.

LOL

Not to say the Dems aren't brain dead, O.K.?

Ralph Nader, Bush, AlGore, Greens

Ain't it funny that.....

Earlier in the new century the states couldn't tax and spend enough. Now they need the Fed to help them save themselves. Only a moron or politician thinks it makes any difference.  At least people will get some new people to bitch about. Might even slow the corruption.

Until next time!

These guys will be at it again. They never learn because the idiots that live here will keep voting for them. Hey got to keep those checks flowing, don't we?


States Are in 'Crisis Mode:' Washington Governor - CNBC

“We are right now cutting essential services to people that we have always provided historically, but we’re without options. We don’t have any more choices,” she said.

At 8.9 percent, the unemployment rate in Washington is slightly lower than the national average of 9.6 percent, but “is still incredibly high for us,” said Gregoire. She said that unemployment has remained unchanged for months, a source of frustration for the state’s workforce and government officials alike.

“We want to see an uptick,” she said, citing state and local layoffs for negating some modest job gains in the private sector. Washington picked up an estimated 1,000 private-sector jobs in September, but overall payrolls were down 3,200 due to the loss of an estimated 4,200 government jobs.

My last cardio rehab session.....

I'm on my own now as I have all the equipment at the house. Cuts down my visits to the hospital. Surviving a heart attack is a pain in the ass but beats the alternative. Next week I get my new blood work back and we'll see if there's any surprises. Of course, I get a stress test to go with it.

 The insurance company will be feeling better, anyways.

LOL.

Doesn't matter who we vote for......

The gangsters control the scene. Only hand picked candidates get the money. Hey, did you notice old Hilary will be ought of the country for the elections.

That will teach the turncoats do come back and beg for help next time. LOL


Mortgage Fraud and Foreclosure Fraud The Perfect No-Prosecution Crime | Greg Hunter’s USAWatchdog

Did you know that in the aftermath of the Savings and Loan (Thrifts) scandal there were more than a thousand felony convictions of financial elites? The cost of the wrongdoing associated with the rip-off and closure of nearly 800 Thrifts cost taxpayers more than $160 billion. The current sub-prime/mortgage-backed security scandal is 40 times bigger according to Economics professor William Black. That means the size of the crime is $6.4 trillion by my calculation. Can you guess how many indictments there have been on financial elites who created this enormous mess? Zero, none, nada, zip. Yes, not one single prosecution or conviction has been started of achieved.

We ain't seen nothing yet......

Since no one was imprisoned the swindle will continue. Why not? The big banks and their buddies have bought plenty of politicians world wide and continue to do so.

Do you really think the Repubs are going to do any better. Why would they?  After all, there's not a whole lot of money coming from broke dicks for political reform. We must remember that it  takes millions to win a Senate seat. And usually a million or so for a house seat in many states. Let alone a hundred million for a presidency.

In politics it's all about the money. And who has money? Yep. Not exactly rocket science. Money talks and bullshit walks. So we won't get any relief there. Much better to prepare for the next few years as all the money is repatriated from overseas after the Repubs join hands with Oba mama and pass new tax breaks for their corporate masters.

Then the boom is on. Even though the working man wont see much of it.

We don't have the  money to buy access! So vote your ass off and suffer.


Thank G20 It’s Friday! - Phil's Favorites

America is quite literally for sale, at rock-bottom prices, and the buyers increasingly are the very people who scored big in the oil bubble. Thanks to Goldman Sachs and Morgan Stanley and the other investment banks that artificially jacked up the price of gasoline over the course of the last decade, Americans delivered a lot of their excess cash into the coffers of sovereign wealth funds like the Qatar Investment Authority, the Libyan Investment Authority, Saudi Arabia’s SAMA Foreign Holdings, and the UAE’s Abu Dhabi Investment Authority.

Here’s yet another diabolic cycle for ordinary Americans, engineered by the grifter class. A Pennsylvanian like Robert Lukens sees his business decline thanks to soaring oil prices that have been jacked up by a handful of banks that paid off a few politicians to hand them the right to manipulate the market. Lukens has no say in this; he pays what he has to pay. Some of that money of his goes into the pockets of the banks that disenfranchise him politically, and the rest of it goes increasingly into the pockets of Middle Eastern oil companies. And since he’s making less money now, Lukens is paying less in taxes to the state of Pennsylvania, leaving the state in a budget shortfall. Next thing you know, Governor Ed Rendell is traveling to the Middle East, trying to sell the Pennsylvania Turnpike to the same oil states who’ve been pocketing Bob Lukens’s gas dollars. It’s an almost frictionless machine for stripping wealth out of the heart of the country, one that perfectly encapsulates where we are as a nation.

Have a great weekend,

Amen.....

Grand Old Partei « LewRockwell.com Blog

Writes Phil Hensley:

As an addition to all the blog posts so far this weekend about the futility of electing Republicans this November, I just wanted to point out yet another reason why it won’t matter if Republicans gain seats in Congress in a couple of weeks. The first and obvious point to make is that for all the talk of repealing Obama’s big-government programs, when have Republicans ever repealed a program once they took office?

But more importantly, look at the three biggest big-government welfare programs (Social Security, Medicare, and Medicaid). Republicans gained seats in Congress in the mid-term elections following the passing of all three programs. Not only did they not repeal them, and not only have they never “defunded” them, they actually now complain that the Democrats are going to cut funding to two of these programs!

I encourage anyone reading this to stay home and not vote. Your vote doesn’t matter and even if it did, electing more Republicans isn’t going to change anything.

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Here's how I feel on election day....

Don't get no better.

George Carlin Doesn't vote

How about nose hair trimmers?.....

No Really. These people are stupid. I've found two pair stolen over the last year or so. How would you explain to anyone stealing those. Can you imagine? (Of course, if it's a serious growth maybe you ought to take up a collection.)

Got to be a great story there somewhere!


Retail Theft Reaches New Level Of Insanity | The Daily Feed | Minyanville.com

What are shoplifters nabbing, and why? Are cultural trends mirrored by criminal activity?

Yesterday, AOL ran a package of Minyanville articles about those objects that are most wanted -- and least paid-for -- across the country.

The list included meat, books, OTC pills, alcohol, baby formula, razors, Brighton jewelry, cosmetics, and gadgets, games, and smartphones.

Then, today, a comment popped up from a reader that needs to be shared with all:

"We have a furniture store in Las Vegas. Last year when we were reordering accessories for Christmas, we did not reorder the smaller Ten Commandments plaque as we had 15 in stock. Wrong: they all had been stolen! Now, we only sell the larger Ten Commandments. Too big for a purse."

Jesus.

We better keep Afghanistan.....

I didn't think chasing brown guys around the desert was such a good idea until I read this guys post and decided the Empire can't survive with out it. Not with the Commies in China buying up everything on the planet that the left wont let us dig or drill for here in the motherland.

So we have to kill others for it. What the fuck do they expect!


To provide a new and spurious economic looting argument for making the US occupation of Afghanistan virtually endless, and to advance the candidacy of General David Petraeus as the principal neocon warmonger candidate for president on the Republican ticke | zero hedge

To provide a new and spurious economic looting argument for making the US occupation of Afghanistan virtually endless, and to advance the candidacy of General David Petraeus as the principal neocon warmonger candidate for president on the Republican ticket in 2012 – these are the purposes of the story planted in the June 13, 2010 New York Times under the byline of James Risen, who is acting as stenographer for the neocons in the great tradition of his predecessor Judith Miller. In retrospect, this article may well be seen as the opening gun of an overt push to place General Petraeus in the White House in 2012 as the new Field Marshal von Hindenburg.

According to this story, a Pentagon survey has determined that Afghanistan possesses at least $1 trillion worth of valuable minerals, including iron, copper, cobalt, gold, and lithium – with lithium being especially valuable because it is used in batteries for computers and for the new designs of electric automobiles. Of course, none of this is news, as the article itself concedes. The surveys done by the US occupation authorities over the last several years are explicitly based on careful studies done by the Soviets during their own occupation of Afghanistan during the 1980s. The basic outlines of what is being presented by Risen as front-page news were already published in a May 2004 World Bank report, which was used to dictate minerals legislation to the Afghan government. More recently, Afghan mineral wealth has been hyped by the Afghan embassy in Washington on various occasions, and was a featured theme of the visit here last month by Afghan President Karzai.
Candidate Petraeus Touts “Stunning Potential”

This planted puff piece is based on anonymous “senior US government officials.” The only exception is General David Petraeus, the warlord of the US Central Command, the theater of operations in which Afghanistan is located. Petraeus is directly cited as saying that the Afghan mineral riches whose presence the US has confirmed represent a “stunning potential” for the future development of the country. The implied message from Petraeus to the Washington elite is, to paraphrase, support me and cash in on the riches of Afghanistan, or else wimpy Obama’s self-serving pullout timetable will allow the Chinese to move in.

Gee... What's bothering China?.....

We declared war on them! Not to long ago they stopped buying our bonds. Lately they've bought some because the dollar collapsed. Then Geithner bitched slapped them publicly pretty much blaming our money collapse on them. Even though China paid for it. I don't remember The Commies screw the Americans out of their pensions, house and credit cards.

Do you?

And Now......


The Empire Strikes Back: China Daily Warns About Currency War, Blames Dollar | zero hedge

You didn't think China was just going to do the rockaway and lean back, lean back, lean back. Nope - China Daily says: "A currency war is spreading as the dollar's value against major world currencies has continued to decline in recent days" and calmly confirms what everyone esle knows: "It is the dollar that triggered the currency war. Seemingly a market move, the depreciation of the dollar is actually active." Check to you, Tim Geithner and your currency manipulation report. What is remarkable, is how simply and accurately CD writer Li Xiangyang captures absolutely everything that Bernanke is trying to achieve.

From China Daily:

A currency war is spreading as the dollar's value against major world currencies has continued to decline in recent days. Some developed countries have begun to intervene in their exchange rates. The recovery of the global economy will suffer a negative impact if this trend is not checked.

Why minor drops in interest rate mean nothing....

The difference in a 30 year mortgage at 4.25% with a payment  $983.88 a month and a 30 year payment at 4.0% at 954.83 is $29.05. About the price of a delivery extra large pizza and a coke.

 So lowering the rate is not going to get me or millions of employed with excellent credit like me buying  any houses. All this does is keep prices up and makes sure the banks can sell off these foreclosures at a higher prices to the government. And I wont buy at these high prices without some kind of government subsidy for me or stopping the subsidies that got us into this fucked up mess. And, let's not forget, some kind of resolution on the mortgage fraud that's endemic in the system.

And it is coming!

Right now we don't know exactly what is will be but it is absolutely coming.
Who do you think is going to win the argument?  150 million  voters or the scum who control our system?

I'm betting right now on the scum running the system and that's why I'm waiting for my check.

Expect the stock market to do well....

Time to get back in.

All kinds of money will come back to stocks as the Fed cranks up the printing presses. Also the debt moratorium (foreclosure gate) is in full swing as the banks will stop taking homes from the unemployed and dead beats. The government is giving these people money to stay and take care of the place until they can be sold. The empty houses will have to be unloaded en mass.

Took long enough!

Expect the Republicans to get with Oba mama and straighten most of this out. Making an attempt to bring government spending under control will go a long way to restore confidence. Of course nothing really will change.

The geezers are going to get another  raise in Social Security as that's a pretty cheap and easy way to buy votes.

I'm still calling for the gangsters to send us that check. LOL


Economy In Trouble: Could A Dollar Crash Be Coming Soon? | Greg Hunter’s USAWatchdog

It’s official. The economy is in trouble. The Fed seems to be hitting the panic button and is sending numerous clear signals that it will print more money to push up the economy. The Fed has already printed $1.7 trillion to buy mortgage-backed securities in the past year or so. New money printing (Quantitative Easing) will be done to buy U.S. Treasuries, or America’s own debt. This, in turn, will supposedly reduce interest rates even further into record low territory and, thus, spur economic activity. The clearest signal of more money printing came last Friday from the Fed Chief himself, “There would appear — all else being equal — to be a case for further action,” according to the Associated Press. (Click here for the complete AP story.)

Other Fed officials are, also, in favor of pouring gas on the smoldering economic fire that is the U.S. economy. According to a Reuters story over the weekend, at least two Fed Presidents are giving a green light to print more greenbacks. Boston Fed President Eric Rosengren and Chicago Fed President Charles Evans spoke at the same event in Massachusetts, and both gave their reasons why aggressive measures by the central bank were needed now. Fed President Rosengren was especially dire in his plea for QE, “Insuring against the risk of deflation may be much cheaper than waiting until it has occurred and then trying to address it. A gradual response may not be as effective as a more active response to arrest deflationary pressures before they become embedded in thinking that can affect household and business spending,” Rosengren said.

Feels like double dip to me.....

Sales at the store down  5% so Patti and I have our hours cut this month to shore up the fourth quarter. We lose about 150 bucks. Also the store is not hiring any seasonal help so they'll offer a little overtime. But after the first of the year expect more cuts in hours store wide.

Nice not having a house payment and by the first of January we'll only have the car payment. Any luck that will be debt gone by June. We still look good compared to my son Jeremy. No work above minimum wage available especially this time of year. The area is in Depression thanks to the housing bust and no one's building.

The thing is no one ever expects they won't have a job so they spend every dime.

Hey, this is America!

Going to be interesting over the next 10 years...

Baby you ain't seen nothing yet!

Unless the Republicans get  Oba mama to pull a Clinton and clean up after the socialist nightmare now in progress  nothing can save us from the final big bust.

I'm not too optimistic.

The president needed to put some of these Wall Street gangsters on trial. Didn't happen. How in the Hell can we trust the system if the scum bags are still skimming off the top? I guess as long as he gets reelected it's not important.

And who's going to beat him!

To save a lot of Republicans expect a big check next year. Got to buy enough votes, baby. The old codgers ain't going quietly into the night. Be a lot of politicians biting the dust over the next few years because there's not enough stolen loot to go around and keep us from electing even Libertarians to play havoc with the system.

Now that would be interesting!


More seniors spending golden years in bankruptcy - The Globe and Mail

Blame dwindling pensions, the rising cost of living or the rocky stock market -- a growing number of seniors are insolvent.

The share of insolvent consumers among people aged 55 and older has more than quadrupled in the past decade, hitting 20.6 per cent last year, the Office of the Superintendent of Bankruptcy Canada said Tuesday. It’s the steepest increase among all age groups

As I've posted before....

These mortgages have to disappear. Pay them off, write them off or sit on them for a few more years. The banks are technically bankrupt. What would we do without a private banking system?

Maybe we'll find out?


Disputes May Affect 9 Million Foreclosures, Morgan Stanley Says - Bloomberg

Disputes May Affect 9 Million Foreclosures, Morgan Stanley Says
By John Gittelsohn - Oct 12, 2010 10:40 AM PT

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As many as 9 million U.S. mortgages in the foreclosure pipeline or already through the process may face legal challenges because of questions about the validity of documents, according to Morgan Stanley.

About 2.5 million homes have been repossessed since 2005 and another 6.5 million mortgages are in foreclosure or may be soon, Morgan Stanley’s Oliver Chang, Vishwanath Tirupattur and James Egan wrote in a note today. The validity of documents used to verify ownership and payment obligations may be in question for each of those loans, Chang said.

I'm bleeding this time of the month.....

So women go buy something? What are they trying to say? Keep women out of the stores every 28 days?

LOL. Now I remember why I don't read the Times very often!

Opinion - Freakonomics Blog - NYTimes.com

Recent research on willpower suggests that it’s a limited resource that can be depleted. Now there’s evidence that something else affects willpower: women’s menstrual cycles. A new study by Karen Pine and Ben Fletcher finds that the further a woman is in her cycle, the more likely she is to make “impulsive purchases.” Pine and Fletcher believe their results are linked to the resource depletion theory of willpower: “We suggest that, in common with other cognitive competencies, the resources that govern spending may also be menstrual-cycle sensitive, and our data reflect women’s lower self-regulatory resources during the luteal (pre-menstrual) phase.” (HT: Nathan Yang) (31)

The real problem?....

can't get these houses to market and sold. Even for pennies on the dollar. Buying and selling a million of these a year would really kick off the next boom.

Oba mama has to get his ass in gear. The rest of TARP is spent on unions this fiscal year to get the 2012 campaign on track. Expect big pick up in the economy, even if it's the usual bullshit statistics, in 2012 to get him across the finish line against a Republican nobody.

Actually pridictable because the guys who pay for this love "gridlock" because the their slimy  politicians can blame everything on their opposition for not getting anything done.

I expect a pretty big "tax refund" to kick off the campaign because broke dicks don't vote for slimy bastards who steal their money and give it to assholes on Wall Street. They vote for slimy bastards who give them money!

Bet the farm on it! The boom is coming!


Foreclosure Fraud: It's Worse Than You Think - CNBC

Foreclosure Fraud: It's Worse Than You Think
Published: Tuesday, 12 Oct 2010 | 1:14 PM ET
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By: Diana Olick
CNBC Real Estate Reporter

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There has been plenty of pontificating over the ramifications of foreclosure freezes on troubled borrowers, foreclosure buyers and the larger housing market, not to mention lawsuits, investor losses and bank write downs. There has been precious little talk of what the real legal issues are behind the robosigning scandal. Yes, you can't/shouldn't sign documents you never read, but that's just the tip of the iceberg. The real issue is ownership of these loans and who has the right to foreclose. By the way, despite various comments from the Obama administration, foreclosures are governed by state law. There is no real federal jurisdiction.

You had to work 2 years at Walmart to qualify.....

Most employees quit before that. But Walmart is constantly making changes to screw their workers and impress Wall Street. Like raising deductibles on insurance. or not paying the instore bonus. And especially cut the number of full time positions to avoid these cost.

What else is new? You think your company's is any better?


Wal-Mart ends profit sharing with employees - Washington Times

NEW YORK (AP) — Wal-Mart Stores Inc., the nation's largest private employer, plans to end automatic profit-sharing contributions for its employees in a revamp of its benefits package that it says will give workers more chance to share in its financial success.

The discounter will replace profit-sharing starting in February with retirement plan contributions of up to 6 percent of pay — as long as workers sign up and contribute an equal amount, Wal-Mart said in a memo it provided The Associated Press late Friday.

The payments added up to 4 percent to the compensation of employees who'd worked more than 13 months for the world's largest retailer.

Wal-Mart also is setting aside up to $1,000 for each employee's health care account to cover eligible medical expenses before employees have to pay any deductible coinsurance.

The memo also notes that employees have the "potential" to receive larger bonuses if the store, warehouse club or distribution center where they work performs well.

Wal-Mart started profit sharing in 1971. It has 1.4 million employees in the U.S. and annual revenue worldwide of about $400 billion, most from its U.S. stores.

Wal-Mart spokesman Dave Tovar said the new matching retirement contributions will "help associates grow their retirement savings much faster than before."

"Based on feedback from associates, we redesigned our plans to make them more contemporary, relevant and in line with what most companies already do," he added.

But Jennifer Stapleton, assistant director at the union-backed advocacy group WakeUpWalmart, saw eliminating profit-sharing as a cut in compensation.

"To demand that people who already make poverty-level wages begin to pa

Didn't I tell you? .....

I wouldn't even try to make this shit up.


Nancy Pelosi says food stamps and unemployment insurance will grow US economy - Vancouver American Politics | Examiner.com

Nancy Pelosi says that food stamps and unemployment insurance will grow the US economy and lift it from the recession that Barack Obama has helped to worsen. Pelosi, that genius and all-around brilliant analyst of the US economy and everything financial, spoke Wednesday in an overly defensive response to Newt Gingrich’s right-on-the-mark salvo against Pelosi and her Democrat Party. In recent comments, Gingrich correctly

What part of corruption don't you understand?....

Send the politicians enough money and you get favors. Duh! Oba mama took their money, didn't he?


Coyote Blog » Blog Archive » I Warned You — Here Comes the Corporate State

In a European-style corporate state, very large corporations (and their unions) get special protections, privileges, and exemptions, to the detriment of consumers, entrepreneurs, small businesses, and taxpayers. Here we go, via Russ Roberts:

Nearly a million workers won’t get a consumer protection in the U.S. health reform law meant to cap insurance costs because the government exempted their employers.

Thirty companies and organizations, including McDonald’s (MCD) and Jack in the Box (JACK), won’t be required to raise the minimum annual benefit included in low-cost health plans, which are often used to cover part-time or low-wage employees.

The Department of Health and Human Services, which provided a list of e

It's the oil prices, stupid.....

Can't emphasize it enough. Too many gangsters playing in the commodities markets. All those U.S. dollars have got to find a home. Oil, stocks, gold, food and in a few years or so, real estate. Money doesn't stay "lost". Every dollar of the deficit spending has to be accounted for. It all comes back home to the Sovereign nation that issues it. Use to cause runs on gold but Nixon put an end to that plan and put us directly on a fiat system .

But I told you this a couple of years before. Check here for  my post in 2008.


The Coming Depression: Ready? Food Prices Set To Explode This Winter

Some recent headlines from the Financial Times: Soaring prices threaten new food crisis – Oct-08
Raw materials index soars to two-year high – Oct-08
Wheat and corn rise as Ukraine limits exports – Oct-07
Shortfall drives tin to record high – Oct-05
Food inflation is real, and it is here. A comment from a recent reader’s post: “Just yesterday I compared my receipt from a grocery run to prices I have from the same exact store from September 15, 2009. Bacon? Up 52% to $13.69 from $8.99 for 4 lbs. Butter? Up 73% to $9.99 from $5.79 for 4 lbs. Pure vanilla extract up 14% to $6.79 from $5.95. Chopped dried onions up a mere 2% but minced garlic (wet) was up 32%.”
Defensive buying by investors worried about the inflationary effects of quantitative easing (QE) is behind the latest rise in gold, metals and food commodities to near record levels this week. Analysts have the usual litany of explanations: Chinese demand; plans for more QE from the Fed; a billion bushels of grain a year going to make ethanol….as Agricultural commodities prices exploded again on Friday, threatening higher global food prices, US forecasters slashed grains production estimates after adverse weather damaged crops worldwide.

To Hell with looking at the stock markets......

Watch the price of oil. A steady rise in prices means recovery. A quick spike back over 100 means crash. Pretty consistent history here. Weak dollar kills jobs and causes commodity speculation.

Our manufacturing overseas keeps profits up for big business and their stock prices rise even as they kill our middle class. These profits, denominated in dollars, will come home. As this money enters the economy banks have to give the money away as fast as they can. So, get ready for a borrowing binge and  stock market upsurge and the end of the recession. The money these guys have accumulated will be repatriated as it's not much good sitting around as prices rise. The important thing then is inflation rearing it's head and reigniting the next boom.

Happens every time it's been tried. The big thing to remember is the bigger the government involvment the bigger the boom and bust. It's really get big now. Trillions sloshing about in the world economy with no place to go as money always goes to it's most profitable area eventually.

Today it's commodities. Soon real estate and a huge run up in stocks. At one time it was tulips for Christ sake. What's next? Won't be manufacturing as that takes time a quality experienced work force, near slave labor and expertise.

I plan on being ready. No  personal debt for toys and junk. Keeping my credit score over 700. Lining up lines of credit especially with the credit union as they are portfolio lenders and are much easier to deal with. For the next couple of years cash will still be king but it doesn't have to be mine.

Of course, this doesn't mean that we are out of the woods yet. I'm betting Wall Street and the banks get rid of as many of the Democrats this year and we get a more business orientated Congress.

Until the next bigger bust it's going to be one hell of a ride.

Ah.... the good old days......

Real estate is a business. Letting amateurs run amok with "no money down", "interest only", no  proof of income, adjustable rate mortgages, etc. only tells me that the perpetrators and their ignorant victims got exactly what they deserved.

Except Oba mama paid them back! Matter of fact he gave the biggest gangsters millions in bonus' with our money.

Think they learned their lesson? Of course not! More money is coming. The gangs rule the politicians and they need more of our money. No one has deprived them of it yet. That's what quantitative easing is all about.   

See why I'm convinced we will have another boom? it's pouring fiat money into the system creats the next boom which  will be bigger than the last and the next bust, 5 or 10 years from now will be even more massive.

You get exactly what you deserve in the long run and we deserve it all for voting for these scum bags.

P.s massive unemployment is with us for the rest of our lives. Business needs customers not tax cuts. You can't hire people with out income. Can't cut your taxes if you don't have any because you don't have customers. Your customers are broke, jobless and scared shit less and will be for many years with out government stimulus because paying off debt , saving up and improving your credit rating takes time. Years!

Might better send us a big check now because it will have to come sooner or later to save Oba mama's ass in 2012.

Hello!

Homeowners are taking the risky route and I am confused | I Will Teach You To Be Rich

Elena December 14, 2006 at 1:03 pm

I hate to be cliche, but real estate is all about “getting in the game.” While houses all go up in price, there is some value to be had in the equity that you build up over the years. That equity is what allows you to trade up when you’re ready to move on. Speaking as a resident of South Florida, I am painfully aware that the longer I waited to buy, the harder it would be to ever afford anything at all.

Read this very carefully...

And explain why the tax payers have to support rich people's loans. If you can afford a $800,000 house why do I , as a tax payer who makes 40,000 a year, have to guarantee your mini-mansion?

That's right. You paid the politicians for that guarantee! (used to be called bribery) Does anyone think any banker in his right mind would make these loans without FHA approval? Think they would turn these yuppies down? Guess where more massive corruption will be at? The Federal government now owns all the housing in the country!

Boom time, baby!!!

See why we're pissed at the gang in Washington!


The Real Estate Bloggers

Congress has extended the limits for jumbo mortgages through 2011 providing some much needed stability for the United States housing market. The rates allow geographic increases of the traditional max rate for Freddie Mac and Fannie Mae loans up to $729,750 in the highest priced markets.

Since private equity loans have all but dried up in the capital crunch, the need for government backed loans has been very important for the real estate industry. If Freddie Mac and Fannie Mae will not buy the loans then the private market will need to. And since the cost of capital is so high, jumbo loan borrowers are paying a significantly higher interest rate.

Now with the new limits proposed by Congress, buyers can qualify for the reduced mortgage rates, as low as the mid 4 percent rate for highly qualified borrowers and only need to put 3.5 percent down on an FHA loan. Otherwise these same buyers will need to put 10–20 percent down and pay a 6–8 percent mortgage rate for the same home in the private market.

Ah.... the good old days......

Real estate is a business. Letting amateurs run amok with "no money down", "interest only", no  proof of income, adjustable rate mortgages, etc. only tells me that the perpetrators and their ignorant victims got exactly what they deserved.

Except Oba mama paid them back! Matter of fact he gave the biggest gangsters millions in bonus' with our money.

Think they learned their lesson? Of course not! More money is coming. The gangs rule the politicians and they need more of our money. No one has deprived them of it yet. That's what quantitative easing is all about.   

See why I'm convinced we will have another boom? Which convinces me the next boom will be bigger than the last and the next bust, 5 or 10 years from now will be even more massive.

You get exactly what you deserve in the long run and we deserve it all for voting for these scum bags.

P.s massive unemployment is with us for the rest of our lives. Business needs customers not tax cuts. You can't hire people with out income. Can't cut your taxes if you don't have any because you don't have customers. Your customers are broke, jobless and scared shit less and will be for many years with out government stimulus because paying off debt , saving up and improving your credit rating takes time. Years!

Might better send us a big check now because it will have to come sooner or later to save Oba mama's ass in 2012.

Hello!

Homeowners are taking the risky route and I am confused | I Will Teach You To Be Rich

Elena December 14, 2006 at 1:03 pm

I hate to be cliche, but real estate is all about “getting in the game.” While houses all go up in price, there is some value to be had in the equity that you build up over the years. That equity is what allows you to trade up when you’re ready to move on. Speaking as a resident of South Florida, I am painfully aware that the longer I waited to buy, the harder it would be to ever afford anything at all.

Ok.... Make my day.....

So put all the truck drivers in jail and ....starve? About as swift as the gang in Washington. Just where do these genius' think everything they touch comes from? Food, clothing, fuel, water, etc, etc.

I would pay good money to see this happen!


Greece threatens to jail striking truckers - BusinessWeek

Greece's Socialist government is threatening to jail striking truck drivers who have defied an emergency order to return to work in a showdown over austerity reforms in the crisis-hit country.

A legal amendment being debated in parliament would see drivers who refuse to return to work stripped of their licenses and facing prison sentences of up to three years. Lawmakers are scheduled to vote on the proposal later Thursday.

Truck drivers have been striking since Sept. 13, opposing plans to overhaul licensing rules as part of measures Greece agreed to in order to receive international rescue loans and avoid bankruptcy.

The emergency order, normally reserved for times of crisis, was issued in late July during a previous protest.

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How to save the electric car and create a green boom.....

Make a deal with Walmart. I shop for an hour and plug in my car. Drive away. Hey, just about everybody stops at or drives by a Walmart so it makes sense to me. Most driving is under 50 miles a day and Walmart has plenty of parking most of the day what's not to like?

Oh yea, Wallyworld is the great evil!!!!!

Technorati Tags: Walmart, Wallyworld, electric car, green boom

More idiotic campaign promises.....

Why the Repubs keep coming up with this shit is beyond me. They're going to kick the Dem's ass because the voters have had it with the graft and corruption in the Empire. Of course, they've lied to the electorate before, but what the Hell, maybe this time they'll only lie a little bit.  After all, they're part of the graft and corruption.

LOL


Op-Ed Columnist - Downhill With the G.O.P. - NYTimes.com

So what’s left? Howard Gleckman of the nonpartisan Tax Policy Center has done the math. As he points out, the only way to balance the budget by 2020, while simultaneously (a) making the Bush tax cuts permanent and (b) protecting all the programs Republicans say they won’t cut, is to completely abolish the rest of the federal government: “No more national parks, no more Small Business Administration loans, no more export subsidies, no more N.I.H. No more Medicaid (one-third of its budget pays for long-term care for our parents and others with disabilities). No more child health or child nutrition programs. No more highway construction. No more homeland security. Oh, and no more Congress.”

The “pledge,” then, is nonsense. But isn’t that true of all political platforms? The answer is, not to anything like the same extent. Many independent analysts believe that the Obama administration’s long-run budget projections are somewhat too optimistic — but, if so, it’s a matter of technical details. Neither President Obama nor any other leading Democrat, as far as I can recall, has ever claimed that up is down, that you can sharply reduce revenue, protect all the programs voters like, and still balance the budget.