Posted on 12/23/2009 4:08:44 AM PST by IrishMike
This is why our founding fathers put limits on what the government can do to us. Had we listened, the country would still be free and prosperous.
I forget the name of the act that enabled low-income and minorities to afford to buy homes...it will come to me.
That was just a cloak to hide behind in order to reap obscene profits under the guise of “fair play”.
http://www.cnn.com/video/data/2.0/video/us/2009/11/24/anderson.mortgage.meltdown.cnn.html
"Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some.... Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."
--Keynes, The Economic Consequences of the Peace
Good job.
Here’s yet another piece of “trash”.
The link also includes the Courts ruling on “Countrywide vs. Thitchener”
yeah, but who’s winning American Idol?/s
The end-game will come when the Bread and Circus supply is disrupted - leaving the “chattering class” with minds full of fire where their brains should be.
Village, burning; 1 each
They forget that they get their $ from us! They are cutting off their nose to spite their face!
Yep. And he deserves an A+ for his success in that endeavor.
I mean, really.
If you read the "justification" for mortgage rates rising, it is "positive economic data."
I am not joking.
The economic news sucks, and yet they raise interest rates?
More greed and sadness....
There should be a new misery index, including foreclosures. That’s a lot of misery right there.
The rope & chains index?
or mope & anger?
LLS, I wholeheartedly agree! In case you haven't caught my posts, you might want to check them out. I've been beating this drum for months, and I think you'll enjoy reading them, as I analyze in detail the Obamunist tactics, strategies, and outcomes.
As I've said before, I think we're already past the point of no return, as too many wheels of destruction have already been set in motion and we are simply waiting for them to grind and crush us. Unfortunately, the full effects of the Obamunists' deliberate destruction will not be apparent for at least three years, and thus it will be too late when the sleeping masses finally awake.
Our nation's greatness is almost certainly doomed at this point, and the foregone conclusion of soon-to-occur weak Republican wins with Dim-lite candidates will be insufficient to effect reversal of the Obamunist seeds of destruction. Only veto-proof majorities of rock-ribbed Reagan conservatives can reverse the tsunami that the Obamunists have set in motion.
Short of such a victory, probably only divine intervention can save us at this point, and it must come soon. However, does the U.S. really deserve salvation that way, given the degeneration and squandering we have made of the heritage we were granted?
Hopefully this one doesn’t spur the haters to play the race card. I say good for this guy.
http://www.ireport.com/docs/DOC-367943#
I agree.
LLS
Oh, yes it’s going to get much much worse. Short term and long term.
Just a few things:
Short term, we haven’t yet seen the wave of commercial real estate foreclosures hit. And they are going to hit hard in the next year. In my once-booming community, commercial real estate development is DEAD. Many projects simply stopped in mid-development and there is very little out there right now. Many big names locally are about to tank and for every 10 properties they own, only about 2 or 3 are viable. They are going to get picked off by the few developers who have some cash. The rest are seriously upside down and the banks are about to take some more haircuts.
Longer term? What are we doing to build new electric generating plants? No, not just for new demand, but to replace the 30 year old plants we have? That’s coal, gas and nuclear. You don’t build these things overnight, and even if we decided to build today, it’s 15 years before you get any significant number on line. And right now, 0bama’s regime is giving utilities every reason to NOT build plants.
And with a dead commercial economy, no manufacturing, outdated energy sources, no income generation and massive government debt that can’t be repaid, just what do we think is going to happen?
Praying!
Vanpool buddy related this morning that a local trucking company that has been operating state wide with a fleet of 100’s of trucks since the 1930’s folded yesterday. I think that what’s happened there is that, like so many small to medium size family owned businesses is that their operating model involves a near “revolving” line of credit from their banks. At year end, they re-finance the old loans into new loans; essentially they maintain a permanent “credit facility” to smooth out the peaks and valley’s of their annual operating income.
Bad news is that the Banks aren’t refinancing; they aren’t lending and they are shutting down business credit facilities.
This is bad news akin to the Canary in the mine. It’s looking more and more like a “double down” or “double dip” recession; we may not see any real improvement until 2012/2013.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.