Frogman

8 Important Facts About the Federal Reserve

Jeff, GREAT ARTICLE...most people do not appreciate history and are ignorant to the concept of fractional reserve banking to include the ownership interests involved in the federal reserve.

If you are in the financial arena and you "think" you know something about the federal reserve and have not seen the following video.....you are only fooling yourself....

video.google.com/video...

Well done Jeff

Walking Away: The Next Mortgage Crisis

JJ I am a landlord to...This should make you feel secure because the renter now has 'no other options' than to rent...they will certainly pay you because the next stop is the streets...also my rent is half of what thier mortgage was ....so they are automatically beginning to save. You are now the hero... People will always screw you in the business, part of it, if you haven't been screwed yet you haven't been doing it long enough. Avoiding it takes experience but even then it is managed risk like anything else...also people make a vow in marriage and now most are divorced...over 50% ...do you fault them the same way? Isn't that a more serious morality issue (if we are really chosing to play morality or contract police!?!?! ) Hardly...I think I made my point...so fast forward...home prices will continue to be slammed till 2009 and 50/50 chance they stabilize with no "cataylst" to rise ESPECIALLY WITH THE BANKS TIGHTENING CREDIT!!! They won't lend you five dollares now!!..As a result we will flatline like the 8o's for 5-10 years just to be teed up for the Social Security and Health Care crisis which is like a hurricane forming off of the coast of Africa but it is already a CAT 5 ....we will be forced once again to print a ton of dollars making it totally worthless but I am hoping that our manufacturing will go crazy and we will be at the cusp of a secondary industrial revolution because of our worthless dollar..BTW which is why Buffet bought BNI he trades ahead 5 years....that is the only positive that I can draw at this point....

Walking Away: The Next Mortgage Crisis

FINALLY SOMEONE ELSE WHO GETS IT!!! I have been POUNDING THE TABLE ON THIS VERY ISSUE BUT NOBODY WILL LISTEN!! 70% of our economy is proped up by the homeowner who mortgaged thier house to buy a hummer, max out thier credit cards and then walk away. I know PRIME BORROWERS (MAKING 250k /year!) with 700+ credit who rented before they walked away so their credit won't get nailed before they were foreclosed on....that is how they are doing it (To the person who asked) ..don't believe me or the article???....listen to Wachovia's and BOFA's conference call last quarter...WE HAVE JUST BEGUN the PRIME MESS!!!!!!!!!!!
RECOVERY ABSOLUTE BS!!!! This is a trading market that started on APRIL fools..."suckers rally" we will get some relief but nothing in the economic cards or otherwise suggest that we are headed to an or even stabilizing.... People just don't get what is happening....GREAT ARTICLE!!

The Fed Won't Save Us, But Here's How to Make Money - Barron's Interview with Jeremy Grantham

On Bears:
We have a bunch of bears coming out of the woods...its like telling us that we are in a recession....really!?!... Wow good job! Did the housing market for the last year tip you off? I love the prophets....Now don't get me wrong I am not getting my bull saddle ready and I still think that there is pain but the gloom and doomers are really getting on my nerves...if you keep saying the same thing (that we are collapsing) for 20 years then you know what?? you are probably going to be right (at some point in the cycle)....the market does correct...hell even a broken clock is right twice a day!!..CNBC and the others should start covering (how we get out of this mess) not tell us what we already know...