Posted on 11/24/2008 8:47:03 PM PST by 2ndDivisionVet
With nationwide sales of existing homes falling more than expected last month and the median sales price plunging to $183,000, the U.S. housing market keeps getting worse. Bracing for more bad news likely on the way, industry groups pressed President-elect Barack Obama to help stem the damage. Meanwhile, the major Wall Street indexes surged Monday on the government's plan to bail out Citigroup Inc. a move investors hope will help quiet some of the uncertainty hounding the financial sector and the overall economy. The Treasury Department says it will invest another $20 billion in Citigroup, and the government agreed to guarantee large losses the company might absorb on real estate-related assets.
The Dow Jones industrials soared nearly 400 points, and the 891-point rise since Friday gave the Dow its biggest two-day percentage gain since October 1987. The major indexes all jumped more than 4.5 percent Monday.
Obama unveiled the top members of his economic team, beginning with New York Federal Reserve President Timothy Geithner as Treasury secretary and Lawrence Summers as director of his National Economic Council. Summers led the Treasury Department under former President Bill Clinton.
Obama urged the new Congress to pass an economic stimulus bill, pledged help for the troubled auto industry and blessed the Bush administration's bailout of the financial industry. Even so, he conceded, "The economy is likely to get worse before it gets better."
From real estate agents to carpet makers, businesses dependent on a healthy housing sector are calling on lawmakers and the incoming administration to subsidize lower mortgage rates and beef up tax credits in a desperate effort to stimulate housing demand.
Spending $50 billion to lower mortgage rates would yield about 500,000 more home sales, projects the National Association of Realtors.
(Excerpt) Read more at abc3340.com ...
Don’t forget to fill every jug, soda bottle, whatever that comes into your household with tap water once it’s original contents are gone. Basic firearms and as much ammunition as you can afford. Bleach for cleaning and purifying water. A Coleman or similar camp stove. Rice, beans, flour, powdered milk, etc. in bulk. A survival guide or Boy Scout handbook (especially an older one, circa 1950’s or 60’s), matches, firewood if applicable, and lanterns. One of those self-powered FM radios/cell phone charger/flashlights would come in handy.
LOL!
This is all New Deal economics.
How many moths do you both have? It isn’t fair if you have more moths than your fellow citizens, comrades. Our Beloved Leader BO, will come by later to take some of your moths and share your moths with the less fortunate who don’t have as many moths as you. Remember, it’s the patriotic thing to do.
Keep your “grubby” hands off my moths, tovarishch!
Insects as Human Food
http://www.food-insects.com/Insects%20as%20Human%20Food.htm
Yes, moths flew out...
You lucky devil. Mine were too starved for flight.
....
The spider must have eaten my moth.
My car (a 1984 Mercedes 300D turbo) will run on vegetable oil/grease if slightly modified.
If you think I'm trusting my 82-year-old father-in-law with a gun, you're wrong.
I have a supply of 10 gallons of RO water, 50 gallons in my water heater, and a water canal within walking distance.
Thanks sir.
Speaking from present experience- I am buying right now. You have to pounce like a hawk on a field mouse when a decent, affordable property hits the market. I have had several that I’ve written offers on buried under a flurry of competing offers. I usually get priced out.
This is in Northern Virginia, in the DC Metro area. I just wrote one on Sunday; I need somewhere to live! I sweetened it as much as I can afford to, here’s hoping I get it.
Yum! Bet they taste like chicken!
The state of Louisiana keeps trying to get its citizens to eat giant rats.
http://www.wlf.louisiana.gov/experience/nutriacontrol/humanconsumption/recipes.cfm
Bon appetit!
We are selling Treasury bonds to foreigners in exchange for their cash, which will one day have to be paid back with interest from the taxes to be collected on your future earnings.
Get to work. ;)
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