SoCalSailor

Property Values Set to Fall 43% from Current Depressed Levels

Someone clue me in on why it is called "home buying" when you take out a ginormous loan and are in hock to the usurocracy for the duration. . .Someone has not been paying attention, he said, as the currency flip-flops to the tune of the usurocracy. . .

Moody's Next Epic Failure: 'U.S. Remains a Solid AAA Nation'

American patriots? They don't risk life and limb to keep me safe in bed at night. . .They risk life and limb to prop up the oligarchy, to steal other peoples' resources, etc. Of course, they do this due to the policies of the oligarchs, and if they were thinking about it, they might reconsider killing people for the greed of others.

The policies of the oligarchs are the reason the economy is in shambles for the majority of the people in the U.S. The FIRE economy is hollow now and always has been. How could you possibly run an economy based on finance, insurance, and real estate? Only by being thieves. These thieves wear fine clothes and talk in their own jargon, but they are just thieves.

On Jun 24 08:55 AM Joe222 wrote:

> at american patriots in an article
> about ratings. Stick to what you (profess to) know, and don't disparage
> those who risk life and limb to keep you safe in your bed at night
> and comfortably wearing your crisp, expensive shirts.

Big Banks in Trouble: Huge Mortgage Write-Downs Seem Inevitable

Borrowing money in order to buy a house, car, or whatever, is a face only a banker could love...The notion that taking on credit is a "normal" practice is foolishness writ large. The banks are only too happy to have people more concerned about their "credit rating" than enjoying their short time on planet earth. Poor fools.

Don't Bet on 'Recovery' Unless You're Willing to Redefine It

Can I get some of what you are smoking? It must be powerful stuff!

My wife and I had health care thru her work. After she retired, we kept the plan by paying out $300 a month. (several years ago) Shortly thereafter, the HMO sent us a "corrected" monthly bill for $850! Equal to our rent!

Bigger tv's? Oh, I see, you are actually being satirical. . .


On Apr 08 10:12 PM Cetin Hakimoglu wrote:

> It is reflected in the rising standard of living and abundant credit.
> For example, Americans enjoy better heath care than Europeans and
> bigger TVs. This is fundamental econ 101.

Destruction of Demand

Pastor Adrian Rogers explained how many Americans feel today.

"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it."

Is this guy talking about the AIG Financial Services wizards? Or perhaps Goldman Sachs? Lehman Bros?

Does Obama Have a Secret Plan?

Simon Johnson expands these arguments on his blog, THE BASELINE SCENARIO:

"[W]eakening the big banks and their bosses should not be seen as an unfortunate side effect of beneficial medicine. It is exactly what we need to do under these circumstances. Unless and until these banks' economic and political influence declines, we are stuck with too many people who know exactly what they can get away with because their organizations are "too big to fail."

And weakening these banks (or actually having some of them go out of business and be broken up) as part of a comprehensive system reboot - with asset revaluations at market prices and a complete recapitalization program - will help return the credit system to normal.

Simon Johnson
Simon Johnson is the Ronald A. Kurtz (1954) Professor of Entrepreneurship at MIT's Sloan School of Management, a position he has held since 2004. He is also a senior fellow at the Peterson Institute for International Economics in Washington, D.C., and co-founder of a website on the global economic and financial crisis, THE BASELINE SCENARIO. He is co-director of the NBER project on Africa and President of the Association for Comparative Economic Studies (term of office 2008-09).

From March 2007 through the end of August 2008, Professor Johnson was the International Monetary Fund's Economic Counsellor (chief economist) and Director of its Research Department. At the IMF, Professor Johnson led the global economic outlook team, helped formulate innovative responses to worldwide financial turmoil, and was among the earliest to propose new forms of engagement for sovereign wealth funds.
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Mr. Johnson has a different view of Mr. Obama than you experts: he does not see any change on the horizon. With 3 ex-CitiBank CFO's and one Goldman Sachs advisors on Mr. Obama's team, I tend to agree with Mr. Johnson. You people need to get out of your heads more...

Misunderstanding the Great Recession

The Glass-Steagal Act was likely repealed in order to do the backfilling. . .

"The new school of thought is to run work through cost analysis and modeling. With this method, you cannot see problems until it appears on a printout. The new executives have spent the majority of their careers on the cost side bean counting. They affect profitability by using innovative accounting techniques, tax loopholes, cost cutting, and short term income pumping. The new school executives have significantly less sensitivity to products, systems, technology, production, sales and distribution than the executives of the past.

The Government and Fed come from the new school. They are seeing low numbers and are trying to fill them. This is not solving the underlying problem which they do not see. The innovation system in America has been damaged by adhering to an economic model which rewards profits before substance."