ariesl's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/173323/comments http://seekingalpha.com/article/177766-renting-a-piece-of-the-american-dream?source=feed#comment-802230 802230
The real irresponsible parties are the lenders, banks, Fannie and Freddy, the bond rating agencies,Wall Street mega-banks and AIG. The government regulators are not guiltless either. The following is true of most lenders from 2004-2006. After dispursing mortgage money to ordinary citizens and almost anybody willing to sign up for a mortgage, they sold the loan notes through a chain leading to the Wall Street money moguls who packaged the mortgages up into a MBS, CDO, etc package. Everyone in the chain got a cut. The Banks got Bond Raters (Fitch , Moody's etc.) to rate these packages (that usually included a lot junk loans) as AAA since AIG and others insured them with a new invention called a Credit Default Swap. Then they sold them to foreign investors suckered by their lies about being insured AAA "investments". Thus, neither they, the original lenders, nor anyone in the chain had any "skin in the game"!

By the way, all of those greedy bastards kept the dirty dollars they made from those deals including all the fat bonuses paid out for their crooked actions. Shouldn't they be held liable for the damage they did to millions of homeowners believing in "the American Dream"? How about buyers of thousands of MBS and CDO bogus bonds? They nearly crashed the entire world's financial system. Because of the number of countries involved and the staggering dollar amount, it was probably the biggest FRAUD ever committed. Worse, the crime has gone unpunished. Worse yet, Bush, Paulson, and Bernanke gave the crooks billions of dollars more. Now the citizen/victim's here and abroad will pay taxes on their government's debts for the rest of their lives.

So stiffing the banks by stopping payment on upside down mortgages is merely a pin prick in the process of getting even. Speaking of pricks, these gangster-bankers prey on "responsible" citizens going like millions of "sheep to the slaughter" sadly surrendering their property without a fight. An alliance with a lawyer who knows how to battle the banks should be formed. Every homeowner with a mortgage problem should fight forclosure action attempts by the servicing bank . Please understand that 90% of mortgage payments are made to a servicer, not the mortgage and note holder. The servicers have no legal basis for attempting a forclosure. BUT.... they do have lawyers on staff (and they too are greedy, surprise) so they try anyway, counting on the average homeowner's lack of knowlege. Only the note holders can legally forclose. However, in most cases the loan note has been lost in the process of selling and re-selling. Grouping the loans into CDOs (consolidated debt obligations) and other derivitives compounded the odds that the note would be lost. If a bank does produce a note (or a copy) in court, it is probably a fake. If that can be proved, it is presenting false documents, a "fraud upon the court" (jail time). In addition, the note sales (transfers) were rarely recorded in the local county land records office (which makes them invalid). Often the original lenders have declared bankruptcy. Probably for their protection since they were typically guilty of predatory lending practices and/or "Truth in Lending " laws violations. Frequently the lenders colluded with appraisers to inflate the value of the property to get buyers to borrow more. That's called conspiracy to commit fraud. They can be jailed for such crimes. A lawyer can investigate for any frauds involved with a loan. You can hardly believe how quickly a servicer bank will distance themselves from the loan when they realize it is being investigated for fraud. They know better than most how much fraud was going on from 2003-2006. They also know the penalties for fraud.

At the least, good lawyer can string out the proceedings for years while the banker's would be victim continues to live in the house payment free. I would recomend saving or investing the saved money though, not going to Disneyland ! At the best there is often enough fraud or mismanagement of the transfers (sales) of the loan note that the bank's case is dismissed by a judge. Sometimes there is enough fraud proven that the banks even have to pay court costs, defense's legal fees, and damages. I guess you see that it is possible to end up owning the house free and clear.

Of course now that prices are low, you can bet those individuals who made obscene profits selling and reselling all those loans and CDO's,etc are in there (like vultures) picking up the bargains.
For example, here in South Florida, most of the foreclosed homes the banks are selling (@ 60% or more off of 2006 prices) are being bought with cash! I doubt if it's different in other hard hit states. Does anyone think the "vulture capitalists" swooping to feed on the carcass of other less fortunate people's "American Dream" feel some "moral" or Societal guilt? I seriously doubt it.]]> Fri, 11 Dec 2009 16:30:53 -0500
The real irresponsible parties are the lenders, banks, Fannie and Freddy, the bond rating agencies,Wall Street mega-banks and AIG. The government regulators are not guiltless either. The following is true of most lenders from 2004-2006. After dispursing mortgage money to ordinary citizens and almost anybody willing to sign up for a mortgage, they sold the loan notes through a chain leading to the Wall Street money moguls who packaged the mortgages up into a MBS, CDO, etc package. Everyone in the chain got a cut. The Banks got Bond Raters (Fitch , Moody's etc.) to rate these packages (that usually included a lot junk loans) as AAA since AIG and others insured them with a new invention called a Credit Default Swap. Then they sold them to foreign investors suckered by their lies about being insured AAA "investments". Thus, neither they, the original lenders, nor anyone in the chain had any "skin in the game"!

By the way, all of those greedy bastards kept the dirty dollars they made from those deals including all the fat bonuses paid out for their crooked actions. Shouldn't they be held liable for the damage they did to millions of homeowners believing in "the American Dream"? How about buyers of thousands of MBS and CDO bogus bonds? They nearly crashed the entire world's financial system. Because of the number of countries involved and the staggering dollar amount, it was probably the biggest FRAUD ever committed. Worse, the crime has gone unpunished. Worse yet, Bush, Paulson, and Bernanke gave the crooks billions of dollars more. Now the citizen/victim's here and abroad will pay taxes on their government's debts for the rest of their lives.

So stiffing the banks by stopping payment on upside down mortgages is merely a pin prick in the process of getting even. Speaking of pricks, these gangster-bankers prey on "responsible" citizens going like millions of "sheep to the slaughter" sadly surrendering their property without a fight. An alliance with a lawyer who knows how to battle the banks should be formed. Every homeowner with a mortgage problem should fight forclosure action attempts by the servicing bank . Please understand that 90% of mortgage payments are made to a servicer, not the mortgage and note holder. The servicers have no legal basis for attempting a forclosure. BUT.... they do have lawyers on staff (and they too are greedy, surprise) so they try anyway, counting on the average homeowner's lack of knowlege. Only the note holders can legally forclose. However, in most cases the loan note has been lost in the process of selling and re-selling. Grouping the loans into CDOs (consolidated debt obligations) and other derivitives compounded the odds that the note would be lost. If a bank does produce a note (or a copy) in court, it is probably a fake. If that can be proved, it is presenting false documents, a "fraud upon the court" (jail time). In addition, the note sales (transfers) were rarely recorded in the local county land records office (which makes them invalid). Often the original lenders have declared bankruptcy. Probably for their protection since they were typically guilty of predatory lending practices and/or "Truth in Lending " laws violations. Frequently the lenders colluded with appraisers to inflate the value of the property to get buyers to borrow more. That's called conspiracy to commit fraud. They can be jailed for such crimes. A lawyer can investigate for any frauds involved with a loan. You can hardly believe how quickly a servicer bank will distance themselves from the loan when they realize it is being investigated for fraud. They know better than most how much fraud was going on from 2003-2006. They also know the penalties for fraud.

At the least, good lawyer can string out the proceedings for years while the banker's would be victim continues to live in the house payment free. I would recomend saving or investing the saved money though, not going to Disneyland ! At the best there is often enough fraud or mismanagement of the transfers (sales) of the loan note that the bank's case is dismissed by a judge. Sometimes there is enough fraud proven that the banks even have to pay court costs, defense's legal fees, and damages. I guess you see that it is possible to end up owning the house free and clear.

Of course now that prices are low, you can bet those individuals who made obscene profits selling and reselling all those loans and CDO's,etc are in there (like vultures) picking up the bargains.
For example, here in South Florida, most of the foreclosed homes the banks are selling (@ 60% or more off of 2006 prices) are being bought with cash! I doubt if it's different in other hard hit states. Does anyone think the "vulture capitalists" swooping to feed on the carcass of other less fortunate people's "American Dream" feel some "moral" or Societal guilt? I seriously doubt it.]]> http://seekingalpha.com/article/168077-freakonomics-latest-adds-little-to-the-energy-debate?source=feed#comment-726072 726072
Most of you have made some excellent points. However,I'm surprised no one talked about CONSERVING ENERGY. By not not wasting so much of it in BUILDINGS. ALL of the energy produced by nuclear power plants (about 20%) and 1/4 of the coal fired plants wouldn't be needed IF SO MUCH WEREN'T WASTED. For example, homes, businesses, factories, schools, etc should be much better insulated and sealed, should have low-e glass and double or triple pane glass in windows. A national energy efficiency building code was proposed in the Carter years. Why was it never passed? (See final paragraph.)

Additionally, we should ban or tax incandescent light bulb sales and replace them with LEDs or at least CFLs. Also wasteful is using tank waterheaters instead of small on demand, point of use waterheaters. All buildings should have SOLAR water heaters or at least pre-heaters. They are cheap compared to photovoltaics (but I am a big supporter of PV.) No pools or spas should be heated any other way than solar (OK, also geothermal if available).

The biggest waste of electricity is the resistance generated heat in long power lines between the power plants and the end users. About 50% of what is generated is lost (according to National Geographic Mag). So locally generated energy is always more efficient, especially SOLAR, or in some localities, Wind.

In addition to TIDAL or RIVER currents as a source of non-polluting power. Florida Atlantic Univ. scientists estimate the Gulf Stream, right off shore of FL, GA, and SC, could supply most of the electric power needs of those states. Importantly, TIDAL power can be generated very close to the end users in the big coastal cities.

Finally, I believe the biggest reason the building insulation as well as solar and wind tax credits started in '70s were eleminated by the Repubican administrations that followed, is that once a citizen has an energy efficient home powered by solar or wind, he has been freed from big power and energy companies. Large scale adoption of alternative and locally generated energy would seriously cut profits for big companies (and save individual citizens lots of dollars). Of course, citizens don't make big campaign contibutions and big companies do. Politicians want to get re-elected. Now you see why very little has been done to solve the energy problems we all face. ]]> Thu, 22 Oct 2009 19:09:22 -0400
Most of you have made some excellent points. However,I'm surprised no one talked about CONSERVING ENERGY. By not not wasting so much of it in BUILDINGS. ALL of the energy produced by nuclear power plants (about 20%) and 1/4 of the coal fired plants wouldn't be needed IF SO MUCH WEREN'T WASTED. For example, homes, businesses, factories, schools, etc should be much better insulated and sealed, should have low-e glass and double or triple pane glass in windows. A national energy efficiency building code was proposed in the Carter years. Why was it never passed? (See final paragraph.)

Additionally, we should ban or tax incandescent light bulb sales and replace them with LEDs or at least CFLs. Also wasteful is using tank waterheaters instead of small on demand, point of use waterheaters. All buildings should have SOLAR water heaters or at least pre-heaters. They are cheap compared to photovoltaics (but I am a big supporter of PV.) No pools or spas should be heated any other way than solar (OK, also geothermal if available).

The biggest waste of electricity is the resistance generated heat in long power lines between the power plants and the end users. About 50% of what is generated is lost (according to National Geographic Mag). So locally generated energy is always more efficient, especially SOLAR, or in some localities, Wind.

In addition to TIDAL or RIVER currents as a source of non-polluting power. Florida Atlantic Univ. scientists estimate the Gulf Stream, right off shore of FL, GA, and SC, could supply most of the electric power needs of those states. Importantly, TIDAL power can be generated very close to the end users in the big coastal cities.

Finally, I believe the biggest reason the building insulation as well as solar and wind tax credits started in '70s were eleminated by the Repubican administrations that followed, is that once a citizen has an energy efficient home powered by solar or wind, he has been freed from big power and energy companies. Large scale adoption of alternative and locally generated energy would seriously cut profits for big companies (and save individual citizens lots of dollars). Of course, citizens don't make big campaign contibutions and big companies do. Politicians want to get re-elected. Now you see why very little has been done to solve the energy problems we all face. ]]> http://seekingalpha.com/article/162666-what-did-the-ratings-agencies-know-about-aig?source=feed#comment-686221 686221 Tue, 22 Sep 2009 11:09:05 -0400 http://seekingalpha.com/article/148387-winter-s-coming-for-the-boomers-part-2?source=feed#comment-586920 586920
If you look closely at China's success over the last 15 years you will see that it happened after the Government implemented their draconian but effective population control laws. It's too bad it can only be done in a totalitarian country because the results are spectacular. Compare the Chinese people's lives today with the 1980's when hundreds of millions were starving and there was no wealth or even a middle class. Compare their lives today with the people of Africa, the Middle East, or large parts of South America.

It is quite easy to have great faith in God (your choice) and still understand that we individually decide whether to have children or not.

No matter what your political leanings are, it's obvious that with a billion or two fewer people on the planet, peak oil, global warming, climate change, large scale extinctions of species, wars and starvation in the third world would be way smaller, or even nonexistant, problems!]]> Tue, 14 Jul 2009 03:23:29 -0400
If you look closely at China's success over the last 15 years you will see that it happened after the Government implemented their draconian but effective population control laws. It's too bad it can only be done in a totalitarian country because the results are spectacular. Compare the Chinese people's lives today with the 1980's when hundreds of millions were starving and there was no wealth or even a middle class. Compare their lives today with the people of Africa, the Middle East, or large parts of South America.

It is quite easy to have great faith in God (your choice) and still understand that we individually decide whether to have children or not.

No matter what your political leanings are, it's obvious that with a billion or two fewer people on the planet, peak oil, global warming, climate change, large scale extinctions of species, wars and starvation in the third world would be way smaller, or even nonexistant, problems!]]> http://seekingalpha.com/article/147570-why-banks-prefer-foreclosures-over-mortgage-modifications?source=feed#comment-579061 579061 Wed, 08 Jul 2009 12:31:41 -0400 http://seekingalpha.com/article/147367-the-real-cause-of-foreclosures-no-skin-in-the-game?source=feed#comment-579005 579005
Of course now that prices are low, you can bet those individuals who made obscene profits selling and reselling all those bad loans and CDO's are in there (like vultures) picking up the bargains.

We are all witnesses to the most massive transfer (read robbery) of wealth from the Middle Classes the the very rich that has ever occured. Moreover, it doesn't end soon or even in our lifetimes. Sadly, our grandchildren will still be paying on the government debt incurred to pay for TARP.

Here in South Florida, most of the forclosured homes going for 60% or more off of 2006 prices are being bought with CASH! No Government programs needed. ]]> Wed, 08 Jul 2009 12:09:18 -0400
Of course now that prices are low, you can bet those individuals who made obscene profits selling and reselling all those bad loans and CDO's are in there (like vultures) picking up the bargains.

We are all witnesses to the most massive transfer (read robbery) of wealth from the Middle Classes the the very rich that has ever occured. Moreover, it doesn't end soon or even in our lifetimes. Sadly, our grandchildren will still be paying on the government debt incurred to pay for TARP.

Here in South Florida, most of the forclosured homes going for 60% or more off of 2006 prices are being bought with CASH! No Government programs needed. ]]> http://seekingalpha.com/article/145566-economic-decapitation-via-cap-and-trade?source=feed#comment-564015 564015
It is common knowlege that the economic of crisis of 2008 really began with the unleashing of Wall Street banker's unlimited greed and dishonesty; all made possible by "untangling regulations" that had previosly held them in check. ]]> Fri, 26 Jun 2009 15:03:56 -0400
It is common knowlege that the economic of crisis of 2008 really began with the unleashing of Wall Street banker's unlimited greed and dishonesty; all made possible by "untangling regulations" that had previosly held them in check. ]]> http://seekingalpha.com/article/145566-economic-decapitation-via-cap-and-trade?source=feed#comment-563991 563991
What good will it do if people make more money now or in the next few years, if their children's and grandchildren's lives are a disaster because of our generation's greed, ignorance, and short- sightedness!]]> Fri, 26 Jun 2009 14:50:13 -0400
What good will it do if people make more money now or in the next few years, if their children's and grandchildren's lives are a disaster because of our generation's greed, ignorance, and short- sightedness!]]> http://seekingalpha.com/article/133542-six-ways-to-cut-our-debt-and-advance-obama-s-agenda?source=feed#comment-481116 481116
The income from the tax would go towards Medicare and Medicaid helping to slow the coming insolvency of those programs. Also helping, would be the improvement in the health of the population as people slowed the rate at which they have been poisoning themselves with junk food. The cost of the programs would go down if people were in general healthier. Those healthcare programs should also automatically exclude smokers and those who have no genetic or accidental cause for their fatness and/or poor cardiovascular fitness. Those are usually preventable conditions caused by poor lifestyle choices just like smoking, excessive drinking, or non-medical drug use. The general population of tax payers should not have to pay for the poor choices of others. Reductions in benefits could be on a scale graduated by the degree of excess fat or poor fitness. That way people would be rewarded in dollars for improvements in fitness and/or reductions in their fat to weight ratio.

I am looking forward to comments and additions or exceptions readers have.

]]> Tue, 28 Apr 2009 12:42:56 -0400
The income from the tax would go towards Medicare and Medicaid helping to slow the coming insolvency of those programs. Also helping, would be the improvement in the health of the population as people slowed the rate at which they have been poisoning themselves with junk food. The cost of the programs would go down if people were in general healthier. Those healthcare programs should also automatically exclude smokers and those who have no genetic or accidental cause for their fatness and/or poor cardiovascular fitness. Those are usually preventable conditions caused by poor lifestyle choices just like smoking, excessive drinking, or non-medical drug use. The general population of tax payers should not have to pay for the poor choices of others. Reductions in benefits could be on a scale graduated by the degree of excess fat or poor fitness. That way people would be rewarded in dollars for improvements in fitness and/or reductions in their fat to weight ratio.

I am looking forward to comments and additions or exceptions readers have.

]]> http://seekingalpha.com/article/128304-want-solar-panels-china-will-pick-up-the-tab?source=feed#comment-447206 447206
How many of you figure the "pay back" time for your car, etc.? After all many could take the bus. Also, how much per KWH would you value quiet electricity during a power failure? How much is it worth to know that you are part of the solution to global warming, instead of part of the problem?]]> Tue, 31 Mar 2009 19:22:24 -0400
How many of you figure the "pay back" time for your car, etc.? After all many could take the bus. Also, how much per KWH would you value quiet electricity during a power failure? How much is it worth to know that you are part of the solution to global warming, instead of part of the problem?]]> http://seekingalpha.com/article/126256-ip-blames-greenspan-for-lack-of-regulation?source=feed#comment-428752 428752
Many have written about the FED and it's previous chairman. However, I don't think the point has been as made that the real pupose of the FED IS TO CREATE INFLATION, which is a hidden tax on all of us. Inflation penalizes those who would save and rewards those who borrow and pay back with cheaper devalued dollars later. The other purpose of the FED is to feed the Boom and Bust Cycle. Remember the low interest rates of the late 90's and the easy money policy that led the so called "dot com" boom and bust? Why bust?... because the FED very suddenly cut off the money supply and raised rates faster than the economy could adjust. Result? An entire generation of stock market, IRA, and 401-k investors had their life savings decimated. How dare they try to move from the Middle Class into the ranks of the moderately wealthy. The same goes for all the uppity entrepeneurs of that period. Of course the very wealthy, who know the game, got out early so they could reinvest at the bottom of the cycle.

Next, many people were lured into the real estate boom and bust. Encouraged by the FED's excessively low rates of 2003-2006 and almost total lack of regulation, or even serious effort at enforcing existing regulations. AGAIN, The FED popped the bubbled it inflated. This time millions of home buyers were financially crushed. Their crime?... nothing more wrong than to buy a house at the wrong time or be taken in by preditory Mortgage Brokers and Bankers who used bogus appraisals to justify the inflated housing prices of the time. The real criminals are free and have kept their illgotten gains.
Now, many of those who have paid their bills their whole lives and were proud of excellent credit scores, are finding themselves owing up to100 or 200 thousand dollars more than their house is currently worth, even with a 20% down payment! Today many wealthy investors are coming to South Florida to scoop up foreclosed houses at 60% to 70% off the inflated 2006 prices. If the FED's goal is to set up massive tranfers of wealth away from the Middle Classes, then it is succeding superbly. Notice how they always seem to be tardy at stopping the downturns, so the cycles are amplified to the down side squeezing any stalwart or responsible types determined to hang on.
BTW, the unfortunatesand dead beats who took out the subprime loans were as often as not lured into houses they could not afford by the same unscrupulous lenders I mentioned before. Once they were foreclosed on, the Banks began dumping their houses on the market, thus driving prices down. That made more homeowners give up on their loans, get foreclosed on, and so on like a monstrous real estate snowball rolling down a very long and painful slope. The next wave of foreclosures will be the resonsible folks rolled over by the snowball. How does one justify paying back hundreds of thousands of dollars more than the house is worth to the very banks that were complicit in the creation of the problem? It will be nearly impossible for someone at the front of the baby boomer pack to recover from such a financial disaster. Especially if their credit has been destroyed.
Of course, once again there is a massive transfer of wealth away from the Middle Classes, insuring that they never are allowed to amass true wealth. Once again, the wealthiest portion of the population keeps getting richer! It's part of the plan! Remember that when you hear people whine about Obama's tax plan being a "redistribution of wealth". That's a sick joke and the majority of Americans are the butt of the joke.

If you would like to learn more about the FED and it's creation and practice, copy and paste this link into your browser,
seekingalpha.com/artic...
OR a longer and even more eye opening article at this link
philologos.org/bpr/fil...]]> Tue, 17 Mar 2009 04:12:23 -0400
Many have written about the FED and it's previous chairman. However, I don't think the point has been as made that the real pupose of the FED IS TO CREATE INFLATION, which is a hidden tax on all of us. Inflation penalizes those who would save and rewards those who borrow and pay back with cheaper devalued dollars later. The other purpose of the FED is to feed the Boom and Bust Cycle. Remember the low interest rates of the late 90's and the easy money policy that led the so called "dot com" boom and bust? Why bust?... because the FED very suddenly cut off the money supply and raised rates faster than the economy could adjust. Result? An entire generation of stock market, IRA, and 401-k investors had their life savings decimated. How dare they try to move from the Middle Class into the ranks of the moderately wealthy. The same goes for all the uppity entrepeneurs of that period. Of course the very wealthy, who know the game, got out early so they could reinvest at the bottom of the cycle.

Next, many people were lured into the real estate boom and bust. Encouraged by the FED's excessively low rates of 2003-2006 and almost total lack of regulation, or even serious effort at enforcing existing regulations. AGAIN, The FED popped the bubbled it inflated. This time millions of home buyers were financially crushed. Their crime?... nothing more wrong than to buy a house at the wrong time or be taken in by preditory Mortgage Brokers and Bankers who used bogus appraisals to justify the inflated housing prices of the time. The real criminals are free and have kept their illgotten gains.
Now, many of those who have paid their bills their whole lives and were proud of excellent credit scores, are finding themselves owing up to100 or 200 thousand dollars more than their house is currently worth, even with a 20% down payment! Today many wealthy investors are coming to South Florida to scoop up foreclosed houses at 60% to 70% off the inflated 2006 prices. If the FED's goal is to set up massive tranfers of wealth away from the Middle Classes, then it is succeding superbly. Notice how they always seem to be tardy at stopping the downturns, so the cycles are amplified to the down side squeezing any stalwart or responsible types determined to hang on.
BTW, the unfortunatesand dead beats who took out the subprime loans were as often as not lured into houses they could not afford by the same unscrupulous lenders I mentioned before. Once they were foreclosed on, the Banks began dumping their houses on the market, thus driving prices down. That made more homeowners give up on their loans, get foreclosed on, and so on like a monstrous real estate snowball rolling down a very long and painful slope. The next wave of foreclosures will be the resonsible folks rolled over by the snowball. How does one justify paying back hundreds of thousands of dollars more than the house is worth to the very banks that were complicit in the creation of the problem? It will be nearly impossible for someone at the front of the baby boomer pack to recover from such a financial disaster. Especially if their credit has been destroyed.
Of course, once again there is a massive transfer of wealth away from the Middle Classes, insuring that they never are allowed to amass true wealth. Once again, the wealthiest portion of the population keeps getting richer! It's part of the plan! Remember that when you hear people whine about Obama's tax plan being a "redistribution of wealth". That's a sick joke and the majority of Americans are the butt of the joke.

If you would like to learn more about the FED and it's creation and practice, copy and paste this link into your browser,
seekingalpha.com/artic...
OR a longer and even more eye opening article at this link
philologos.org/bpr/fil...]]> http://seekingalpha.com/article/118339-end-of-the-recession-in-2009?source=feed#comment-403193 403193 Another difference is that In the 1929 - 1933 period the large economies of the world could be counted on one hand. Today we have a G20. Many countries that were European colonies or third world countries in 1929, today are wealthier and more productive than Weimar Germany in 1932. Today's world economy has much more depth, diversity and dispersion. It's also much more intertwined. Maybe unfortunately in the short run, but an eventual advantage.

Today 's problems would probably lead to an equally disasterous economy as 1933's, IF the same things were being done by today's governments. However, that is not at all the case. Also, it has always been true that it takes 6 to 9 months for just a FED rate cut to show results in a normal downturn. This is certainly an unprecedented downturn, but the response has been unprecedented and massive. Still, to expect quick positive results in the face such a complicated web of fear, failure, and financial corruption is foolish. When mountanous bubbles burst, involving every asset class, it takes a while to reach the valley floor. However, the responses of the governments and entrepeneurs of the world will keep us from sliding into the sea. BTW, we all know that the stock market moves according to where traders think earnings will be in 6 to 8 months. That suggests that most of us will still think our personal, community, and state economies are bad to rotten when the market rallies. Remember there's trillions of dollars waiting to be put to work. I don't think that latter was true in 1932.
All the discussions above regarding the continuing to rise in unemployment failed to mention that employment, being a trailing indicator, is usually the last thing to improve.
My belief is that this time residential and commercial real estate will be the last to show real strength.
Lastly, I have appreciated the excellent comments by so many of you. The Charts and interpretation the author shared were at worst still interesting. Also, those of you that have completely dismissed the author might consider the PHD that follows his name. Just a thought....]]> Wed, 25 Feb 2009 12:29:01 -0500 Another difference is that In the 1929 - 1933 period the large economies of the world could be counted on one hand. Today we have a G20. Many countries that were European colonies or third world countries in 1929, today are wealthier and more productive than Weimar Germany in 1932. Today's world economy has much more depth, diversity and dispersion. It's also much more intertwined. Maybe unfortunately in the short run, but an eventual advantage.

Today 's problems would probably lead to an equally disasterous economy as 1933's, IF the same things were being done by today's governments. However, that is not at all the case. Also, it has always been true that it takes 6 to 9 months for just a FED rate cut to show results in a normal downturn. This is certainly an unprecedented downturn, but the response has been unprecedented and massive. Still, to expect quick positive results in the face such a complicated web of fear, failure, and financial corruption is foolish. When mountanous bubbles burst, involving every asset class, it takes a while to reach the valley floor. However, the responses of the governments and entrepeneurs of the world will keep us from sliding into the sea. BTW, we all know that the stock market moves according to where traders think earnings will be in 6 to 8 months. That suggests that most of us will still think our personal, community, and state economies are bad to rotten when the market rallies. Remember there's trillions of dollars waiting to be put to work. I don't think that latter was true in 1932.
All the discussions above regarding the continuing to rise in unemployment failed to mention that employment, being a trailing indicator, is usually the last thing to improve.
My belief is that this time residential and commercial real estate will be the last to show real strength.
Lastly, I have appreciated the excellent comments by so many of you. The Charts and interpretation the author shared were at worst still interesting. Also, those of you that have completely dismissed the author might consider the PHD that follows his name. Just a thought....]]> http://seekingalpha.com/article/120924-how-ge-compares-to-other-banks?source=feed#comment-392177 392177
If your stock portfolio included wind turbines, solar PV, fuel efficient jet engines and locomotives (rail), high tech meical devices, and general industrials but also one big money losing financial, most would say your sector selection was 5 out of 7 great for the economy ahead. The question remains, how much of a percentage are 5 excellent sectors compared to average ones and the bad one?

I hope someone can put numbers to this query.]]> Tue, 17 Feb 2009 12:06:47 -0500
If your stock portfolio included wind turbines, solar PV, fuel efficient jet engines and locomotives (rail), high tech meical devices, and general industrials but also one big money losing financial, most would say your sector selection was 5 out of 7 great for the economy ahead. The question remains, how much of a percentage are 5 excellent sectors compared to average ones and the bad one?

I hope someone can put numbers to this query.]]> http://seekingalpha.com/article/116684-obama-shines-natural-gas?source=feed#comment-369153 369153
Nakedjaybird - very good and well organized ideas

Andy1234 - Your comment on energy conservation I hope was in jest. Otherwise, it is an incredibly stupid comment ina discussion of solutions to our energy problems. However, I applaud you and others who recognize that all the energy shortages, polution problems, etc are actually population surpluses. The effectiveness of population control has been demonstrated in China. Obviously, their methods would prove next to impossible in any democratic country. Education might help but many religeous people would object.
As far as solar collectors and wildlife, could you possibly not have noticed that most collectors are the roofs of buildings?

The Deaths of birds from Colliding with wind turbines might be solved with some sort of sonic warning in a frequency range that birds hear but most humans wouldn't. Research is needed for sure.

Anyone - name calling, for example,"carbon loon" or "Enviro-crazies" etc. block many readers from considering your ideas. The same is true for names liberals have for ultra conservatives like Rush L.

Most of the energy "consumed" in this country is wasted. Wasted in inefficient power generation and transmission, deplorably inefficient buildings (in design, construction, operation, lack of insulation and weatherization) inefficient vehicle design, powering, fueling, and poor traffic handling. In a typical american car, 6/10th of a percent of the latent energy in a gallon of gas actually is used to move the driver to his destination. The rest is wasted in the inherent inefficiencies if internal combustion engines, drive trains, excessive vehicle weight, friction, aerodynamic drag, etc.
One of the many beauties of solar collectors on the roof of a building is that no electricity is lost in transmission before it's used. Most of the electricity generated in this country becomes heat energy lost to the atmosphere while overcoming resistance in the transmission lines. This is another reason we need better conductivity in the grid. BTW, American Superconductor (Nasdaq - AMSC) has been selling super- conductive cable for several years, but it is still VERY expensive. Of course, mass production would bring down the cost. (I own 30 shares.)

BTW, PVC panel prices are dropping fast this year after polysilicon prices fell and a massive ramp up in production ran into a credit crunch coupled with a global economic recession. Look for a 30% cost savings for buyers (plus another 30% Federal tax credit plus whatever your state provides)

One great sideline to eventually having millions of PHEVs and EVs not mentioned is that they could provide a source of stored electric power in their very large capacity bateries. Electric utility companies could provide special parking spaces in urban parking garages where they could hook up to the grid. When the grid has peak draws, the vehicle's batteries would help smooth out the supply to the grid. When the demand on the grid slackens the grid would recharge the batteries for free. Currently the peak demands are met by keeping gas fired power generation plants running during daytime. During lulls in demand on the grid the energy generated by these reserve power plants is wasted because there is no easy way to store it currently. Ideally, the utility company would cover the garage roof with solar collectors, therby freeing up more Nat Gas for transportaion.

Rarely mentioned is the most practical use of solar as a source for thermal energy to heat water (20% of a typical home's energy bill). All of the previously mentioned tax credits apply.
Homes can be designed using passive solar heating principles for almost no addtional cost, saving most of the energy currently used for space heating.
These ideas make even more sense for schools and commercial buildings that are used mostly during the daytime hours.
Intelligent building design can also drastically lower air conditioning needs without sacrificing comfort.
All of the energy savings I"ve mentioned would reduce the need for more power plants to charge batteries in PHEVs and EVs, free up Nat Gas for transportation use, thereby reducing the amount of oil imported from unfriendly countries.]]> Wed, 28 Jan 2009 17:23:04 -0500
Nakedjaybird - very good and well organized ideas

Andy1234 - Your comment on energy conservation I hope was in jest. Otherwise, it is an incredibly stupid comment ina discussion of solutions to our energy problems. However, I applaud you and others who recognize that all the energy shortages, polution problems, etc are actually population surpluses. The effectiveness of population control has been demonstrated in China. Obviously, their methods would prove next to impossible in any democratic country. Education might help but many religeous people would object.
As far as solar collectors and wildlife, could you possibly not have noticed that most collectors are the roofs of buildings?

The Deaths of birds from Colliding with wind turbines might be solved with some sort of sonic warning in a frequency range that birds hear but most humans wouldn't. Research is needed for sure.

Anyone - name calling, for example,"carbon loon" or "Enviro-crazies" etc. block many readers from considering your ideas. The same is true for names liberals have for ultra conservatives like Rush L.

Most of the energy "consumed" in this country is wasted. Wasted in inefficient power generation and transmission, deplorably inefficient buildings (in design, construction, operation, lack of insulation and weatherization) inefficient vehicle design, powering, fueling, and poor traffic handling. In a typical american car, 6/10th of a percent of the latent energy in a gallon of gas actually is used to move the driver to his destination. The rest is wasted in the inherent inefficiencies if internal combustion engines, drive trains, excessive vehicle weight, friction, aerodynamic drag, etc.
One of the many beauties of solar collectors on the roof of a building is that no electricity is lost in transmission before it's used. Most of the electricity generated in this country becomes heat energy lost to the atmosphere while overcoming resistance in the transmission lines. This is another reason we need better conductivity in the grid. BTW, American Superconductor (Nasdaq - AMSC) has been selling super- conductive cable for several years, but it is still VERY expensive. Of course, mass production would bring down the cost. (I own 30 shares.)

BTW, PVC panel prices are dropping fast this year after polysilicon prices fell and a massive ramp up in production ran into a credit crunch coupled with a global economic recession. Look for a 30% cost savings for buyers (plus another 30% Federal tax credit plus whatever your state provides)

One great sideline to eventually having millions of PHEVs and EVs not mentioned is that they could provide a source of stored electric power in their very large capacity bateries. Electric utility companies could provide special parking spaces in urban parking garages where they could hook up to the grid. When the grid has peak draws, the vehicle's batteries would help smooth out the supply to the grid. When the demand on the grid slackens the grid would recharge the batteries for free. Currently the peak demands are met by keeping gas fired power generation plants running during daytime. During lulls in demand on the grid the energy generated by these reserve power plants is wasted because there is no easy way to store it currently. Ideally, the utility company would cover the garage roof with solar collectors, therby freeing up more Nat Gas for transportaion.

Rarely mentioned is the most practical use of solar as a source for thermal energy to heat water (20% of a typical home's energy bill). All of the previously mentioned tax credits apply.
Homes can be designed using passive solar heating principles for almost no addtional cost, saving most of the energy currently used for space heating.
These ideas make even more sense for schools and commercial buildings that are used mostly during the daytime hours.
Intelligent building design can also drastically lower air conditioning needs without sacrificing comfort.
All of the energy savings I"ve mentioned would reduce the need for more power plants to charge batteries in PHEVs and EVs, free up Nat Gas for transportation use, thereby reducing the amount of oil imported from unfriendly countries.]]> http://seekingalpha.com/article/108356-expect-continued-drops-in-solar?source=feed#comment-317151 317151 Hey Solar Sam (Great name), why would you not want to see a temporary glut of cheap PV from China? Cost is what has been keeping most most would be buyers out of the market. Let's face it, 20 year pay back is not most peoples idea of good investment! If ASP's plummet, polysilicon prices fall, and gov't help continues, pay back could be cut in half or better. I believe demand will soar. Moreover, utility companies in the US are included in the Gov't subsidies as of 1/1/09. They don't have as much trouble borrowing money as most businesses or individuals.

Even though I own a nice chunk of First Solar stock, I believe the higher efficiency of Poly collectors will still make them the solar of choice for those with limited roof space. Also, compare P/E ratios, their Chinese competitors are selling at a fraction of the cost of our precious First Solar shares. Also, I believe the Chinese Government will simply pump in the money to support their solar companies through the rough spots. I wouldn't want to live under one, but dictatorships can act fast when they need to. With one party, there's little of the tedious public grandstanding and political wrangling we see in our congress. Of course the corruption there makes Ted Stevens look like a saint!]]> Sat, 29 Nov 2008 12:06:22 -0500 Hey Solar Sam (Great name), why would you not want to see a temporary glut of cheap PV from China? Cost is what has been keeping most most would be buyers out of the market. Let's face it, 20 year pay back is not most peoples idea of good investment! If ASP's plummet, polysilicon prices fall, and gov't help continues, pay back could be cut in half or better. I believe demand will soar. Moreover, utility companies in the US are included in the Gov't subsidies as of 1/1/09. They don't have as much trouble borrowing money as most businesses or individuals.

Even though I own a nice chunk of First Solar stock, I believe the higher efficiency of Poly collectors will still make them the solar of choice for those with limited roof space. Also, compare P/E ratios, their Chinese competitors are selling at a fraction of the cost of our precious First Solar shares. Also, I believe the Chinese Government will simply pump in the money to support their solar companies through the rough spots. I wouldn't want to live under one, but dictatorships can act fast when they need to. With one party, there's little of the tedious public grandstanding and political wrangling we see in our congress. Of course the corruption there makes Ted Stevens look like a saint!]]> http://seekingalpha.com/article/107553-looking-good-genco-in-particular-shipping-in-general?source=feed#comment-315529 315529 Wed, 26 Nov 2008 11:08:01 -0500 http://seekingalpha.com/article/106560-alcohol-can-be-a-gas-debunking-myths-about-ethanol?source=feed#comment-308953 308953 Tue, 18 Nov 2008 11:33:37 -0500 http://seekingalpha.com/article/106509-four-chinese-solar-stocks-under-threat-from-pollution?source=feed#comment-308911 308911 Tue, 18 Nov 2008 11:02:13 -0500 http://seekingalpha.com/article/106189-the-autos-and-mentality-that-ruined-detroit?source=feed#comment-308123 308123
On the upside,maybe a desparate American auto industry will finally be willing to make safe, fuel efficient cars and trucks if it's the only way they can survive. I agree with all of you that think most of the existing management has to go. To this day, they seem to believe that inundating us with ads will boost sales more than making the kind of cars we want, with the reliability we want. They demonstrate that they believe defending liability lawsuits is cheaper than making the safer vehicles we need!
The only reason we didn't have hybrid gas/electric vehicles 30 or more years ago (remember the Arab oil embargo) is because the big 3 wouldn't give us what we needed. Diesel/electric locomotives have been pulling trains for 60 years. That change involved scrapping all the coal fueling investments as well as the steam locomotives themselves. The only reason we don't have hydrogen fuel cell powered vehicles now is because auto makers WON'T make them. Fuel cells powered the Apollo missions to the moon. They're safe and reliable enough and they'd be cheap enough if they were mass produced at scale. Of course, Hydrogen is literally the most common element in the universe. Better than growing on trees, it falls from the sky as part of rain and there are actually oceans of it. If only there was a Hydrogen Lobby with money like Big Oil and The Big 3.

If the union members became partners, sharing in future profits, it might make them accept more competitive wages and benefits. Also, the effort they put into qualilty would actually pay THEM, instead of just the company .

My hall of shame car was a horrible Plymouth Volare. It made the Pinto it replaced seem great! Since then, I've happily owned a series of Hondas.

BTW, Sebring is a nice small city in South Central Florida that had a great road race.]]> Mon, 17 Nov 2008 14:28:16 -0500
On the upside,maybe a desparate American auto industry will finally be willing to make safe, fuel efficient cars and trucks if it's the only way they can survive. I agree with all of you that think most of the existing management has to go. To this day, they seem to believe that inundating us with ads will boost sales more than making the kind of cars we want, with the reliability we want. They demonstrate that they believe defending liability lawsuits is cheaper than making the safer vehicles we need!
The only reason we didn't have hybrid gas/electric vehicles 30 or more years ago (remember the Arab oil embargo) is because the big 3 wouldn't give us what we needed. Diesel/electric locomotives have been pulling trains for 60 years. That change involved scrapping all the coal fueling investments as well as the steam locomotives themselves. The only reason we don't have hydrogen fuel cell powered vehicles now is because auto makers WON'T make them. Fuel cells powered the Apollo missions to the moon. They're safe and reliable enough and they'd be cheap enough if they were mass produced at scale. Of course, Hydrogen is literally the most common element in the universe. Better than growing on trees, it falls from the sky as part of rain and there are actually oceans of it. If only there was a Hydrogen Lobby with money like Big Oil and The Big 3.

If the union members became partners, sharing in future profits, it might make them accept more competitive wages and benefits. Also, the effort they put into qualilty would actually pay THEM, instead of just the company .

My hall of shame car was a horrible Plymouth Volare. It made the Pinto it replaced seem great! Since then, I've happily owned a series of Hondas.

BTW, Sebring is a nice small city in South Central Florida that had a great road race.]]> http://seekingalpha.com/article/104657-fording-tax-avoidance-deal-lots-of-unanswered-questions?source=feed#comment-300287 300287 Fri, 07 Nov 2008 14:09:55 -0500 http://seekingalpha.com/article/103202-the-shallowest-generation?source=feed#comment-297657 297657 However, the reality is, as many responders have pointed out, rarely all black or all white (except, it appears, if you're a Republican). To me the charts and explanations show that many of the problems blamed on the Boomers actually started under Reagan and BushI who of course were not Boomers. The icing on the cake was really heaped on though by the administration of George the second(a Boomer). We've experienced what happens when an almost religious effort at DEREGULATION gives greedy people a green light to abuse the system, and consequently, the economy and the citizens.
I like many responders also worked hard, lived frugally, saved and invested. Most of the great points have already been made by other commenters. Some have commented about the FED it's chairman. However, I don't think the point was made that the real pupose of the FED is to create inflation which is a hidden tax on all of us. It penalizes those who would save and rewards those who borrow and pay back with cheaper devalued dollars later. The other purpose of the FED is to feed the Boom and Bust Cycle. Remember the low interest rates of the late 90's and the easy money policy that led the so called "dot com" boom and bust? Why bust?... because the FED very suddenly cut off the money supply and raised rates faster than the econmy could adjust. Result?
An entire generation of stock market, IRA, and 401-k investors had their life savings decimated. How dare they try to move from the Middle Class into the ranks of the wealthy. The same goes for all the uppity entrepeneurs of that period. Next, after a few years, many people were lured by FED's excessively low rates of 2003-2006 to get into the real estate boom and bust. AGAIN, The FED popped the bubbled it inflated. This time many home buyers who did nothing more wrong than to buy a house at the wrong time or be taken in by Mortgage Brokers and Bankers who used bogus appraisals to justify the inflated housing prices of the time.
Now those who have paid their bills their whole lives and were proud of excellent credit scores, find themselves owing 100 to 200 thousand dollars more than there house is currently worth, even with a 20% down payment! Today many wealthy investors are coming to South Florida to scoop up foreclosed houses at 60% to 70% off the inflated 2006 prices, If the FED's goal is to set up massive tranfers of wealth away from the Middle Classes (not just Baby Boomers), then it is succeding superbly. Of course, they always seem to be tardy at stopping the downturns, so the cycles are amplified to the down side squeezing any stalwart or responsible types determined to hang on.
BTW, the dead beats who took out the subprime loans were as often as not lured into houses they could not afford by the same unscrupulous lenders I mentioned before. Once they were foreclosed on, the Banks began dumping their houses on the market, thus driving prices down. That made more homeowners give up on their loans, get foreclosed on, and so on like a monstrous real estate snowball rolling down a very long and painful slope. The next wave of foreclosures will be the resonsible folks rolled over by the snowball. How does one justify paying back hundreds of thousands of dollars more than the house is worth to the banks that were involved in the creation of the problem? It will be impossible for someone at the front of the baby boomer pack to recover from such a financial disaster. Of course, once again a massive transfer of wealth away from the MIddle Classes, insuring that they never are allowed to amass true wealth. As the charts in the article showed, the wealthiest portion of the population keeps getting richer! It's part of the plan!

If you would like to learn more about the FED and it's creation and practice, copy and paste this link into your browser,
seekingalpha.com/artic...
OR a longer and even more eye opening article at this link
philologos.org/bpr/fil...
]]> Mon, 03 Nov 2008 19:05:18 -0500 However, the reality is, as many responders have pointed out, rarely all black or all white (except, it appears, if you're a Republican). To me the charts and explanations show that many of the problems blamed on the Boomers actually started under Reagan and BushI who of course were not Boomers. The icing on the cake was really heaped on though by the administration of George the second(a Boomer). We've experienced what happens when an almost religious effort at DEREGULATION gives greedy people a green light to abuse the system, and consequently, the economy and the citizens.
I like many responders also worked hard, lived frugally, saved and invested. Most of the great points have already been made by other commenters. Some have commented about the FED it's chairman. However, I don't think the point was made that the real pupose of the FED is to create inflation which is a hidden tax on all of us. It penalizes those who would save and rewards those who borrow and pay back with cheaper devalued dollars later. The other purpose of the FED is to feed the Boom and Bust Cycle. Remember the low interest rates of the late 90's and the easy money policy that led the so called "dot com" boom and bust? Why bust?... because the FED very suddenly cut off the money supply and raised rates faster than the econmy could adjust. Result?
An entire generation of stock market, IRA, and 401-k investors had their life savings decimated. How dare they try to move from the Middle Class into the ranks of the wealthy. The same goes for all the uppity entrepeneurs of that period. Next, after a few years, many people were lured by FED's excessively low rates of 2003-2006 to get into the real estate boom and bust. AGAIN, The FED popped the bubbled it inflated. This time many home buyers who did nothing more wrong than to buy a house at the wrong time or be taken in by Mortgage Brokers and Bankers who used bogus appraisals to justify the inflated housing prices of the time.
Now those who have paid their bills their whole lives and were proud of excellent credit scores, find themselves owing 100 to 200 thousand dollars more than there house is currently worth, even with a 20% down payment! Today many wealthy investors are coming to South Florida to scoop up foreclosed houses at 60% to 70% off the inflated 2006 prices, If the FED's goal is to set up massive tranfers of wealth away from the Middle Classes (not just Baby Boomers), then it is succeding superbly. Of course, they always seem to be tardy at stopping the downturns, so the cycles are amplified to the down side squeezing any stalwart or responsible types determined to hang on.
BTW, the dead beats who took out the subprime loans were as often as not lured into houses they could not afford by the same unscrupulous lenders I mentioned before. Once they were foreclosed on, the Banks began dumping their houses on the market, thus driving prices down. That made more homeowners give up on their loans, get foreclosed on, and so on like a monstrous real estate snowball rolling down a very long and painful slope. The next wave of foreclosures will be the resonsible folks rolled over by the snowball. How does one justify paying back hundreds of thousands of dollars more than the house is worth to the banks that were involved in the creation of the problem? It will be impossible for someone at the front of the baby boomer pack to recover from such a financial disaster. Of course, once again a massive transfer of wealth away from the MIddle Classes, insuring that they never are allowed to amass true wealth. As the charts in the article showed, the wealthiest portion of the population keeps getting richer! It's part of the plan!

If you would like to learn more about the FED and it's creation and practice, copy and paste this link into your browser,
seekingalpha.com/artic...
OR a longer and even more eye opening article at this link
philologos.org/bpr/fil...
]]> http://seekingalpha.com/article/100384-vouchers-against-forclosures?source=feed#comment-286195 286195 I do! I personnal know many good people who moved here late in the cycle a had to buy a house. Now they are unpside down in their payments through no fault of their own.
They are not crooks!
They did not try to cheat any banks!
Home prices here are down 60% to 80%.
If you need to move to another state because of work, you're screwed because you must sell your home into a market flooded with foreclosed homes being dumped by the banks for huge discounts.
These people usually kept trying to make the payments until their finances were totally destroyed.
They are victims as much as the people who happened to have made the irresponsible decision to live in the path of a hurricane, a flood, a tornado or worked in the twin towers on 9/11/01.
They are victims of believing in the American Dream of home ownership as the most basic investment we all make and you that must hold onto your home at all costs.
I pray that you smug self-righteous %*#holes that want to throw these ordinary hard working ,tax paying people out on the street, will someday have the misfortune I've suffered. I worked for 32 years at poor pay teaching the children of people like you. Hell, I'm old enough that I may have taught you too, you ungrateful sobs.

The obvious solution is to set guide lines for distinguishing between the decent people and the deadbeats. Then help the decent people only.

If the foreclosures slow down, the real estate market could absorb the current glut over the next year or so. The reduction in cheap supply would allow home values to first, stop going down, then gradually recover. No one expects prices to recover to the boom days for another 15 0r 20 years (due to normal inflation and population growth).
I live in a house that we bought 3 years before the peak in prices. Because of the pendulum effect of price swings and the severity of this problem. We are upside down over $100,000. I'm retired and have no way to recover from this financial disaster. My IRA is destroyed. I live off credit cards and my wife's income. We are facing bankruptcy! I don't care if you have no sympathy for me and millions of others like me.
BUT I AM FURIOUS THAT YOU TRY TO LUMP ALL OF US THE MINORITY OF PEOPLE WHO TRIED TO "WORK" THE SYSTEM.

The CROOKS are at JP MORGAN AND THE LIKE!
They invented the CDOs (consolidated credit obligations) and CDFs (credit default swaps) that have become illiquid BECAUSE NO ONE KNOWS WHAT MORTGAGES ARE IN THEM OR WHAT THEY ARE WORTH!
This financial problem we are in is the fault of the greedy bas#%@ds on Wall Street in the monstrous investment banks.
The amounts of money that all the individual little fools and some crooks who took out mortgages base the absurd hope that prices and their incomes wolud go up forever, could hardly have made a dent in an economy as large as ours, let alone the world's.
Moreover, since real estate values are the underlying assets backing the CDOs, rising real estate values would make the banks holding the CDOs more solvent . Also, since our government will be buying these CDOs on the cheap, all tax payers would eventually come out ahead.
It's called an investment. So even you unsympathetic, self-righteous right wing conservatives should be able to see that.
It will be interesting to read your responses!

PS You can't call me any worse names than I called you, or you really are those names.]]> Mon, 20 Oct 2008 09:25:55 -0400 I do! I personnal know many good people who moved here late in the cycle a had to buy a house. Now they are unpside down in their payments through no fault of their own.
They are not crooks!
They did not try to cheat any banks!
Home prices here are down 60% to 80%.
If you need to move to another state because of work, you're screwed because you must sell your home into a market flooded with foreclosed homes being dumped by the banks for huge discounts.
These people usually kept trying to make the payments until their finances were totally destroyed.
They are victims as much as the people who happened to have made the irresponsible decision to live in the path of a hurricane, a flood, a tornado or worked in the twin towers on 9/11/01.
They are victims of believing in the American Dream of home ownership as the most basic investment we all make and you that must hold onto your home at all costs.
I pray that you smug self-righteous %*#holes that want to throw these ordinary hard working ,tax paying people out on the street, will someday have the misfortune I've suffered. I worked for 32 years at poor pay teaching the children of people like you. Hell, I'm old enough that I may have taught you too, you ungrateful sobs.

The obvious solution is to set guide lines for distinguishing between the decent people and the deadbeats. Then help the decent people only.

If the foreclosures slow down, the real estate market could absorb the current glut over the next year or so. The reduction in cheap supply would allow home values to first, stop going down, then gradually recover. No one expects prices to recover to the boom days for another 15 0r 20 years (due to normal inflation and population growth).
I live in a house that we bought 3 years before the peak in prices. Because of the pendulum effect of price swings and the severity of this problem. We are upside down over $100,000. I'm retired and have no way to recover from this financial disaster. My IRA is destroyed. I live off credit cards and my wife's income. We are facing bankruptcy! I don't care if you have no sympathy for me and millions of others like me.
BUT I AM FURIOUS THAT YOU TRY TO LUMP ALL OF US THE MINORITY OF PEOPLE WHO TRIED TO "WORK" THE SYSTEM.

The CROOKS are at JP MORGAN AND THE LIKE!
They invented the CDOs (consolidated credit obligations) and CDFs (credit default swaps) that have become illiquid BECAUSE NO ONE KNOWS WHAT MORTGAGES ARE IN THEM OR WHAT THEY ARE WORTH!
This financial problem we are in is the fault of the greedy bas#%@ds on Wall Street in the monstrous investment banks.
The amounts of money that all the individual little fools and some crooks who took out mortgages base the absurd hope that prices and their incomes wolud go up forever, could hardly have made a dent in an economy as large as ours, let alone the world's.
Moreover, since real estate values are the underlying assets backing the CDOs, rising real estate values would make the banks holding the CDOs more solvent . Also, since our government will be buying these CDOs on the cheap, all tax payers would eventually come out ahead.
It's called an investment. So even you unsympathetic, self-righteous right wing conservatives should be able to see that.
It will be interesting to read your responses!

PS You can't call me any worse names than I called you, or you really are those names.]]> http://seekingalpha.com/article/94382-energy-independence-isn-t-a-supply-side-issue?source=feed#comment-248397 248397 Sadly, we were on the right track during the Carter administration. All of the progress on energy conservation and alternatives to oil were dismantled by that hero of the Republican Party, Ronald Reagan. He even had the solar water heating system on the White House removed! Idiocracy at work, or worse, a sop to the oil industry. Think of where we would be now if those incentives for alternative energy and conservation had been maintained and mandatory fuel mileage standards had continued to be improved. America's place in the world would not have slid so low and we would no longer live in fear of OPEC. ]]> Mon, 08 Sep 2008 11:43:25 -0400 Sadly, we were on the right track during the Carter administration. All of the progress on energy conservation and alternatives to oil were dismantled by that hero of the Republican Party, Ronald Reagan. He even had the solar water heating system on the White House removed! Idiocracy at work, or worse, a sop to the oil industry. Think of where we would be now if those incentives for alternative energy and conservation had been maintained and mandatory fuel mileage standards had continued to be improved. America's place in the world would not have slid so low and we would no longer live in fear of OPEC. ]]> http://seekingalpha.com/article/93883-sarah-palin-wall-street-s-candidate?source=feed#comment-245296 245296 Thu, 04 Sep 2008 09:23:40 -0400 http://seekingalpha.com/article/93883-sarah-palin-wall-street-s-candidate?source=feed#comment-245293 245293 Thu, 04 Sep 2008 09:22:08 -0400 http://seekingalpha.com/article/71150-an-energy-policy-that-makes-cents-and-sense?source=feed#comment-136863 136863
Observe the sudden change in China allowed by that government's limitation on births to an incredible (to most countries) ONE child per couple. Little of the amazing improvements in education, standard of living, etc. would have been possible without that program, and of course, abandoning communism in favor of some free enterprise and capitalism (with a dictatorial government.)

Unfortunately, most people's religious and moral belief's will keep Democracies from ever adopting such a Draconian ,if logical, plan. Our love of freedom of choice combined with the average person's ignorance of the problems we face, let alone what solutions are best, creates a huge dilema.... Hum, that's kind of scary if we are to compete with China.
]]> Sat, 05 Apr 2008 00:54:16 -0400
Observe the sudden change in China allowed by that government's limitation on births to an incredible (to most countries) ONE child per couple. Little of the amazing improvements in education, standard of living, etc. would have been possible without that program, and of course, abandoning communism in favor of some free enterprise and capitalism (with a dictatorial government.)

Unfortunately, most people's religious and moral belief's will keep Democracies from ever adopting such a Draconian ,if logical, plan. Our love of freedom of choice combined with the average person's ignorance of the problems we face, let alone what solutions are best, creates a huge dilema.... Hum, that's kind of scary if we are to compete with China.
]]> http://seekingalpha.com/article/71150-an-energy-policy-that-makes-cents-and-sense?source=feed#comment-136857 136857
Additionally, we should ban or tax incandescent light bulb sales and replace them with LEDs or at least CFLs. Also wasteful is using tank waterheaters instead of small on demand, point of use waterheaters. All buildings should have SOLAR water heaters or at least pre-heaters. They are cheap compared to photovoltaics (but I am a big supporter of PV.) No pools or spas should be heated any other way than solar (OK, also geothermal if available).

The biggest waste of electricity is the resistance generated heat in long power lines between the power plants and the end users. About 50% of what is generated is lost (according to National Geographic Mag). So locally generated energy is always more efficient, especially SOLAR, or in some localities, Wind.

Also, no one mentioned TIDAL or RIVER currents as a source of non-polluting power. Florida Atlantic Univ. scientists estimate the Gulf Stream, right off shore could supply most of the electric power needs of the state. Importantly, TIDAL power can be generated very close to the end users in the big coastal cities.

Finally, I believe the biggest reason the building insulation as well as solar and wind tax credits started in '70s were eleminated by the Repubican administrations that followed, is that once a citizen has an energy efficient home powered by solar or wind, he has been freed from big power and energy companies. Large scale adoption of alternative and locally generated energy would seriously cut profits for big companies (and save individual citizens lots of dollars). Of course, citizens don't make big campaign contibutions and big companies do. Politicians want to get re-elected. Now you see why very little has been done to solve the energy problems we all face. ]]> Sat, 05 Apr 2008 00:17:48 -0400
Additionally, we should ban or tax incandescent light bulb sales and replace them with LEDs or at least CFLs. Also wasteful is using tank waterheaters instead of small on demand, point of use waterheaters. All buildings should have SOLAR water heaters or at least pre-heaters. They are cheap compared to photovoltaics (but I am a big supporter of PV.) No pools or spas should be heated any other way than solar (OK, also geothermal if available).

The biggest waste of electricity is the resistance generated heat in long power lines between the power plants and the end users. About 50% of what is generated is lost (according to National Geographic Mag). So locally generated energy is always more efficient, especially SOLAR, or in some localities, Wind.

Also, no one mentioned TIDAL or RIVER currents as a source of non-polluting power. Florida Atlantic Univ. scientists estimate the Gulf Stream, right off shore could supply most of the electric power needs of the state. Importantly, TIDAL power can be generated very close to the end users in the big coastal cities.

Finally, I believe the biggest reason the building insulation as well as solar and wind tax credits started in '70s were eleminated by the Repubican administrations that followed, is that once a citizen has an energy efficient home powered by solar or wind, he has been freed from big power and energy companies. Large scale adoption of alternative and locally generated energy would seriously cut profits for big companies (and save individual citizens lots of dollars). Of course, citizens don't make big campaign contibutions and big companies do. Politicians want to get re-elected. Now you see why very little has been done to solve the energy problems we all face. ]]>