The Housing Bubble

Fannie and Freddie are bankrupt. They don’t have any money to write loans. Enter the FEDERAL RESERVE SYSTEM.
Kill the FED. End the shenanigans of endless bubbles and busts.
No more fractional reserve swindling.
Then, yes, this crap would not happen to the extent that is has, and, when it starts to happen, it will choke itself off very quickly without the “help” of the Banksters.

“Fannie and Freddie are buying loans”

and FHA

If they’re lucky, one (or both) of them will get a 1099-c

Except congress suspended the tax on forgiven debt. Anyone know when that expires? (does it?)

Also, does anyone know if states with state income taxes are taxing the forgiven debt as income? Or have states like CA taken the fed’s lead?

At this time, it goes through 2012 but you have to prove to the IRS that you lost your home out of hardship. I am not sure within these circumstances, since they went out and purchased another home, if they qualify for a hardship according to IRS criteria.

I don’t know about you all, but I think there are few things that enhance a blossoming mid-life romance more than unexpected debt.

Actually, debt is a real turn-off to this single gal. As in, fellas, if you’re deeply in debt, don’t expect Slim to be very interested.

I learned this through hard experience. I once dated a guy who was $15k in debt and also had problems with smoking, drinking, and weight. Let’s just say that a good bit of our time together was spent dealing with the fallout from his problems.

Yeah, I know. What was I thinking? Answer: I wasn’t thinking.

I once dated a guy who was $15k in debt and also had problems with smoking, drinking, and weight.

Could he cook?

Could he cook?

Actually, he was a pretty decent cook. Another thing I remember about meals at his house was the lack of dessert. He just wasn’t into that.

I guess that on a subconscious level, he realized that his weight was a problem. So, no desserts for anyone at his table.

One of my friends dated a guy who was in personal debt and also underewater on a mortgage. She not only didn’t steer clear of him, she loaned him another $5K to help him over the rough spot. No surprise he didn’t intend to pay her back.

An honest man pays what he owes.

AZslim: I was being COMPLETELY SARCASTIC. I agree with you that a man who is not in control of his finances is not a good catch AT ALL. I too speak from experience. Without getting into the gory details, I’ll just say, had I known how f-ed up my husband’s finances were when I met him, I would have RUN FOR THE HILLS. Fortunately, I am extremely good with money and, in combination with his salary increases, etc…, things have vastly improved. Honestly, when I think about what we went through, I still want to strangle him.

+1 Hwy….

Make up your mind and be a real commie Rio.

Bill, I think you suffer from “math only” education and vocation. (Ayn Rand don’t help either) You don’t do a good job with shades of grey, nuance and partial outcomes.

All or nothing in life and societies is not where it’s at or ever will be.

Bila,
Do you actually know what “communist” means, or are you just spouting someone else’s rhetoric again?

Unfortunately, the “social contract” that you keep saying was broken never existed. It was imagined. There is noone on the other side of it.

Unfortunately, the “social contract” that you keep saying was broken never existed. It was imagined.

Fortunately you are wrong. You are imagining how successful economies and societies NEVER worked. You are repeating programming.

the “social contract”…was imagined.

Imagine this:

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

The above words reflect a part of, the need for, and our founding father’s desire to establish a social contract between a government and its PEOPLE.

And you imagine it never existed.

The classic social contract invoked in the Constitution is not the “economic social contract” that you alluded to above. It is quite a leap. We’d agree on the pieces of it mostly, but not on the paint job.

Blue sky you are exactly right. There is only an imagined social contract, dreamed up only by the big government types and commies such as Rio.

Commie Rio, what is the difference between “promote” and “provide?” you big government types, including slob, never answer that question. I know why.

The classic social contract invoked in the Constitution is not the “economic social contract” that you alluded to above. It is quite a leap.

The Social Contract economically became more important as economics became more important. We are not all farmers anymore. Can’t you guys make the leap that society made? You think we are still 95% farmers as we were when USA made its Constitution ?

Come on and think for yourselves and extrapolate our history and economic trends. Gosh.

commies such as Rio.

Commies? Man….Bill. You sound like a really ignorant man sometimes. So one dimensional. So trite and so wrong.

Commie Rio, what is the difference between “promote” and “provide?”

You tell me fool.

Um, about 200 years of linguistic interpretation?

How about this, bila? We provide general welfare to promote the general welfare. As in, if we don’t, there are a whole lot of people with knives and hatchets out there who will ensure that you do.

Sorry, Rio but the preamble to the U.S. Constitution has no and never has any force of law or contract. So has ruled the U.S. Superme Court over the years.

“if we don’t, there are a whole lot of people with knives and hatchets”

That’s not the kind of social contract my therapist would encourage.

Rio,

An example of the preamble not being an enforceable social contract…

“Courts will not interpret the Preamble to give the government powers that are not articulated elsewhere in the Constitution. United States v. Kinnebrew Motor Co.[21] is an example of this. In that case, the defendants were a car manufacturer and dealership indicted for a criminal violation of the National Industrial Recovery Act. The Congress passed the statute in order to cope with the Great Depression, and one of its provisions purported to give to the President authority to fix “the prices at which new cars may be sold

Sorry, Rio but the preamble to the U.S. Constitution has no and never has any force of law or contract. So has ruled the U.S. Superme Court over the years.

You miss the point LasVegasDude. The Preamble having no force of law is irrelevant to the fact that the Preamble is stating clearly that the purpose of the following Constitution is to create a political and social contract between Americans and the American government.

“We the People of the United States, IN ORDER TO…”

Somehow, I don’t think anyone under boomer age will appreciate what you just said. They didn’t live it, and it doesn’t fit their comfy model.

Outbidding? Prices not falling? How can that be? The middle class is just the working poor now, with no money for a down payment. Or so it seems in Rio’s head.

What part of a manipulated housing market meeting declining middle-class wages don’t you get Bill? Hasn’t that been a major theme of this blog and the housing market for years? Did you forget it just because I mentioned it or are you bad at memory, math, history and American macro-economic trends?

Such hostility. And I was counting on this being my soft place to fall… Sniffle.

And I was counting on this being my soft place to fall…

Sorry. Not with the Bills. They are not soft and that’s why some are not with them.

Are suggesting that Cheney-$hrubs Legacy Policy #1: “$hazam-Islam-is-gonna-bee-Democratic-peoples-+-Nation-any-day-now! is a policy NOT WORTH pur$uing endle$$ly or until WE WIN!, is that what your suggesting?

meant to type “get them”

“Are suggesting that Cheney-$hrubs Legacy Policy #1: “$hazam-Islam-is-gonna-bee-Democratic-peoples-+-Nation-any-day-now! is a policy NOT WORTH pur$uing endle$$ly or until WE WIN!, is that what your suggesting?”

Afghanistan

Obama announced a plan – if elected – to deploy an additional 7,000 troops to Afghanistan. “As president, I would pursue a new strategy, and begin by providing at least two additional combat brigades to support our effort in Afghanistan” “We need more troops, more helicopters, better intelligence-gathering and more nonmilitary assistance to accomplish the mission there” “I would not hold our military, our resources and our foreign policy hostage to a misguided desire to maintain permanent bases in Iraq,” Obama said on July 14, 2008.[28]

After meeting with French President Nicolas Sarkozy in Paris on July 25 as part of a world tour, Obama said in the joint news conference with Sarkozy, “Afghanistan is a war that we have to win” because al-Qaeda and the radical Islamic Taliban movement cannot be allowed to establish new havens for planning “terrorist attacks . . . that could affect Paris or New York.” Obama declared that there were no effective options to this policy, saying, “So we don’t have a choice; we’ve got to finish the job.” Obama said the United States “needs to send two additional brigades at least” to Afghanistan and praised Sarkozy for his willingness to send more French troops to that country.[29]

http://en.wikipedia.org/wiki/Barack_Obama_foreign_policy - 257k

Although “$hazam-Islam-is-gonna-bee-Democratic-peoples-+-Nation-any-day-now!” Was pretty good.

Are suggesting that Cheney-$hrubs Legacy Policy #1: “$hazam-Islam-is-gonna-bee-Democratic-peoples-+-Nation-any-day-now! is a policy NOT WORTH pur$uing endle$$ly or until WE WIN!, is that what your suggesting

That would be a feat beyond the abilities of any wizard or his champions.

It’s all good, iffin’ yous reads between the line$ & lie$

Afghanistan + [Iraq]

– if elected – [which Presidents should we hold to their campaign speeches?]

“As president, I would pursue a new strategy, [- Colin Powell & yellow cake lies ;-)]

better intelligence-gathering
to accomplish the mission [of finding Bin Laden ;-)]

“I would not hold our military, our resources and our foreign policy hostage to a misguided de$ire to maintain permanent base$ in Iraq,” [lil' Opie orders the Pentagon to speed up troop removal$ ;-)]

hehehheeeheehee

Are people on here still defending either side? They are all BOUGHT AND PAID FOR. If you haven’t gotten that by now, you may as well be watching Fox News.

The Afghan story is even buried on Aljazeera.

http://www.aljazeera.com/indepth/features/2012/03/201231862852921747.html

“They are all BOUGHT AND PAID FOR”

Now there’$ a $cotu$ Corporation$ Inc. “person$” vernacular iffin’ there ever was one!

“Boycott$!” eyes says!

+

After, “Audit$-the-FederalInc. Re$erve Corporation$ [Pending ... in the peoples Hou$e]

and before: “Audit-thee-Pentagon” [Coming $oon!, really!]

Lucy: “Hwy50 you’re such a BLOCKHEAD! $cram!, and take that stupid Beagle with you!”

Hwy50ina49Dodge: R YoU a PiRaTe? wHaT’$$$ Up wiTh tHe FunKy FoNT$$$$? I FeeL LiKe’n I’m in Ea$$$T Lo$$$$ AnGeLe$$$.

Hwy50ina49Dodge: R YoU a PiRaTe?

Hwy is just doing marketing for the JT Extension’s “ignore user” feature, showing how much your life would be better if you could just ignore him/her…

“I FeeL LiKe’n I’m in Ea$$$T Lo$$$$ AnGeLe$$$”.

Eyes agree wittbelle!

$$$$$$$$$$$ = Financial Graffiti’$

[Them boyz waits until dark, then $tart'$-a $praying that $hasta everywhere$, ... NYCity'$, Bo$ton, Chic-ago'$, $an Franci$co, Wa$hington DC'$, Dalla$, Truth-or-Con$equence$ NM ]

Yous cans $ee$ it on both $ide$ of the track$ as you rides the train into the city of “Lo$t Angel$” [laughing]

I quit believing when some of the facts surrounding the death of Pat Tillman turned out to be gross lies.

+1

+1 +1

Think about it; one guy can walk around for hours in a war zone, shooting people in their houses, piling bodies up and burning them, and doesn’t get a scratch? Jeebus, we never needed a surge, this one GI subdued three villages single-handed, and then walked back to the base!

The claims the survivors are making became known immediately. Completely opposite of what the military said, also immediately. As a judge might say, ’someone is lying.’

Easy enough to sort out. Lets see if the bullets came from one rifle, the rifle this guy had on him. What about footprints? If there were a dozen pairs of boots, wouldn’t there be prints in the dirt or blood? Surely somebody took a few photos of the crime scenes, or pulled some bullets out of the walls.

Suppose, as your argument suggests, that more than one individual was involved. In that case, what is the advantage, and to whom, of pinning all of the blame on a rogue staff sergeant?

I’ll leave that to be decided once these easily settled matters are resolved. No sense in getting ahead of ourselves. I’m just curious why the rush to accept one story and not the other. Like I said, a simple test of the bullets would do. Why wouldn’t the military be anxious to prove their case?

Why wouldn’t the military be anxious to prove their case?

Because it might uncover a systemic problem, as opposed to a single bad apple?

Suppose, as your argument suggests, that more than one individual was involved. In that case, what is the advantage, and to whom, of pinning all of the blame on a rogue staff sergeant?

Because that’s the way we’ve always done it?

This is gets more interesting by the day.

I didn’t see ANY mention of these other details on MSM Internet.

Yet I finally got to see it on the Internet, here.

This is what I love about the Internet. You CAN NO LONGER suppress the truth.

My position is that the military should not be in Afghanistan in the first damned place! What are we doing there?
I didn’t agree with the Bush invasion plan, and I don’t agree with the Obama escalation plan.
America has no business invading countries that have not declared a WAR on the US or invaded the US or threatened the US. We are sending troops all around the world to incite violence among the natives and then something like this happens and everyone is looking for a story-line to make it look like they are the “good guys”.
Forget 911. No foreign country invaded the US. A bunch of muslims came here with VALID PASSPORTS. Lived here, without care or supervision, and created a plan to extract vengeance for the Iraq invasion 1, and the stationing of troops in muslim countries. The US State Dept. and all the other executive agencies were blind and stupid. We paid the price. We should never have allowed those scumbags into the United States, but we did.
Now, we are claiming this is “state sponsored” terrorism. I don’t know. But I do know, there have been NO Islamic tagged aircraft, boats, tanks, missiles, rockets, or any other device of a Sovereign foreign government that has been deployed against the US of A, except as a defense to our invading forces. And it’s not a fair fight by any means.
We are the oppressors, pretending to be the good guys, while we dictate to other supposedly free and sovereign people how we want them to live.
WE should get ALL of our troops out of these people’s back yards. Then, we wouldn’t have to have discussions like this, about how did what to who when and where.

I supported getting Bin Laden. Getting him was the perfect excuse to declare victory and go home. Unless he wasn’t really the reason we’re there…

Perhaps that is a valid mission of the US government, as he claimed to making his own private war on the US and that the actors of the 911 mission were under his supervision.
How did we do it? With a night-strike with a handful of Marines flying in by helicopter.
The US military has all kinds of sophisticated equipment for surveillance and spying. COVERT operations is the specialty of Navy Seals and special forces. That means LIMITED troops, and a lot of intelligence gathering.
You don’t send in ground troops, except to take over a country.
So, to answer your question, no, he’s NOT the reason we are over there.
We are there for 2 reasons. 1) MILITARY CONTRACTS which make some people very, VERY rich,(part of the ’stimulus’ we are supposedly getting) and 2) OIL shipments.
We are scared to death that someone there will work to shut off our supply of live-sustaining OIL…..the life-blood of American lifestyles. No oil. No malls. No shipments. No shopping. No economy. If the straight of hormuz was closed, we would collapse. We are holding on by a thread, already.

I agree, Carl. I can’t believe Obama didn’t use that as a way to get out, finally.

There are a lot of people that support the political process who get their “funds” from the “military-industrial complex”.
They don’t want us OUT. They want more equipment and supplies “CONSUMED”. Then they can sell the ‘government’, i.e. us, more stuff to Consume in an endless war.
There is LOTS of money in WAR. It’s just that only a few government contract companies get most of the money….
and they funnel it back in campaign contributions.
There are also LOTS of generals, admirals, colonels and other lifers in the US military that are expecting terrific pensions when they retire. Most of the lifers don’t go to war. They stay home and direct it. Or run a military base in some far off land, away from the real action. They send in the “RESERVES”.
Call up the reserves. Yea, let them go fight. We need to stay here and keep and eye on the Japanese and the Germans.

Exactly and where did they learn all this hate? in the Mosques the koran….that has always been the enemy….not the people or the military or the governments of the countries.

Forget 911. No foreign country invaded the US. A bunch of muslims came here with VALID PASSPORTS.

The reason is rare earths in afgahnni….and of course we need heroin to supply our addicts…..the taliban burned all the poppy field when they were in power

“This is what I love about the Internet. You CAN NO LONGER suppress the truth.”

It’s not had hardly any such effect$ on these fella$:

Federal ReserveInc. $cotu$ “person”:

Megabank$ Inc. loan$ to one another:

.25%

“America has no busine$$ …”

Can you find the $ecret me$$age$ contained in your $tatement?

[Wait, Ike has a comment dating back to 1957]:

“My fellow American’s …”

How do you propose we keep out the “scumbags” as you put it? We could refuse to let all foreigners into the country. We could refuse entry to all people from a particular list of countries. We could investigate anyone who wants to come here from any country or from a particular list of countries. We could provide government escorts to foreigners who visit here to make sure they don’t do anything.

All have their issues and all are going to be expensive. I wonder which you choose?

I wonder which you choose ??

Many, many countries have none of the concerns regarding terror that we do…

So, what is it they do that we don’t ??

Better yet, What is it the “we” do that “they” don’t ??

In both of those questions lay the answers….

“Think about it; one guy can walk around for hours…”

Think about it; one guy walks up to the MPs and says he is in a bad spot and might have done some crazy sht but cannot remember. Triage.

usul..we still have bubblesign in the DC metro area the likes of which God has never seen.

“Sure, Fed wants to recreate the same 2001-2006 bubble scenario where RE is inflated again and they want to make it the new normal.”

Please refer to my original post above for some reasons Megabank, Inc might support this strategy by the hedge fund they collectively own (aka The Fed).

It drives me crazy when people compare the US to Greece. There is no comparison. The US can pay it’s debts with printed money Greece can’t. They will not play out in the same fashion.

They will not play out in the same fashion.

Agreed. What we will probably see is the chasm widening even more between the haves, whose income streams will be adjusted for the coming inflation, and the lucky duckies, whose ranks will continue to swell as their standard of living collapses even more, while the foodstamps are taken away.

although i agree there is a difference due to the lack of a printing press on Greece’s part…there are similarities between Greece’s relationship with Germany and the U.S.’s relationship with China.

That is certainly what the new Ryan budget proposal offers. Even if you ignore the Medicare/Medicaid cuts, he wants to cut all nonentitlement spending to 3.75% of GDP. That includes all defense spending, but he doesn’t want to cut defense spending which is already 4% of GDP. Assuming that the implication of -0.25% is a slip up of some kind, that would eliminate all the rest of the US government. All of it.

No justice department. No SEC. No FDA. No CDC. No federally funded research of any kind. No NASA. No State Department (hope you don’t need a passport). No education department. No energy department (I guess the military gets all the nukes). No HHS. No VA. No foreign embassies. No federal highway money. No national parks. No FEMA. No FBI. No flood insurance. No federal courts, including the Supreme Court. And, I guess, no IRS, so good luck collecting the money to pay for that defense department and what is left of Social Security, Medicare and Medicaid.

No justice department. No SEC. No FDA. No CDC. No federally funded research of any kind. No NASA. No State Department (hope you don’t need a passport). No education department. No energy department (I guess the military gets all the nukes). No HHS. No VA. No foreign embassies. No federal highway money. No national parks. No FEMA. No FBI. No flood insurance. No federal courts, including the Supreme Court. And, I guess, no IRS, so good luck collecting the money to pay for that defense department and what is left of Social Security, Medicare and Medicaid.

That’s what many want, polly. A de facto breakup of the US into individual states, perhaps with a common defense pact.

No justice department. No SEC. No FDA. No CDC. No federally funded research of any kind. No NASA. No State Department (hope you don’t need a passport). No education department. No energy department (I guess the military gets all the nukes). No HHS. No VA. No foreign embassies. No federal highway money. No national parks. No FEMA. No FBI. No flood insurance…………….
Well, that, to me, sounds like a good START.
I wish he could hack most of these useless parasitic agencies all the pieces. HHS, FDA, Ed.dept, FEMA, Flood, Energy, as history would be a great relief to people like me who don’t get to siphon off these parasites.
Let the CUTS begin. If we find we actually needed some part of some agency, we can re-think it. I am sure we’ll survive.

“…that would eliminate all the rest of the US government. All of it.”

No justice department. No SEC. No FDA. No CDC. No federally funded research of any kind. No NASA. No State Department (hope you don’t need a passport). No education department. No energy department (I guess the military gets all the nukes). No HHS. No VA. No foreign embassies. No federal highway money. No national parks. No FEMA. No FBI. No flood insurance. No federal courts, including the Supreme Court. And, I guess, no IRS, so good luck collecting the money to pay for that defense department and what is left of Social Security, Medicare and Medicaid.”

Hey, what are you aiming to get a “certain” choir a-singin’-&-a-dancin-&- $houtin’!: Glorie$-bee’$-Hallelujah’$!

Look Faux New$ is expeditin’ a Broadca$t-it-24hr$-across-America crew as eyes type …

[Rumor has it that the Federal Gov't did eliminate the fella's po$ition that checked the viscosity of how well retail ketchup flows, ain't that a start?]

Next!:

“Audit-the-Pentagon!” = Coming $oon!

“That’s what many want, polly. A de facto breakup of the US into individual states, perhaps with a common defense pact.”

not advocating for that…but do you really think the status quo is sustainable?

really?

“A de facto breakup of the US into individual states, perhaps with a common defense pact.”

Didn’t the Soviet Union go down that path, circa 1989?

“Didn’t the Soviet Union go down that path, circa 1989?”

Quit Putin’ us on Cantankerous!

“Let the CUTS begin. If we find we actually needed some part of some agency, we can re-think it. I am sure we’ll survive.”

There won’t be any money to re-think any of it. He promises to keep miltary spending at current levels (as a percent of GDP) and cut all non-entitlement government spending (including military) to a smaller percentage of GDP than the military currently has by itself. There wouldn’t be any money to pay the president unless you count him as miltary because he is CiC. I don’t think there would be any money to pay Congress.

A lot of agencies could be eliminated. Let
the states handle education, housing, epa, etc. What works in Georgia doesn’t mean it
will work in Oregon. Local solutions are better all around.

Excellent. What is your state supposed to do when the state next door (and up wind) plants a hundred dirty coal power plants right on the state line. Their enviro people will be fine with it. It won’t impact air quality in their state. Same with rivers.

Oh, and all those cross boarder water rights agreements that are so important in the west? Forget them. There won’t be any federal courts to bring the law suit, so you can have all the agreements you want, but you can’t enforce them.

No FDIC. Want to put your money in a bank? I suggest you get an accounting degree so you can figure out which ones might be safe. Of course, you’ll have to hope that the finacial statements are accurate. No one will be checking.

Ironically, Polly’s extensive list could (should) be cited as the reason the federal budget needs to be cut.

“A lot of agencies could be eliminated. Let the states handle education, housing, epa, etc. What works in Georgia doesn’t mean it will work in Oregon. Local solutions are better all around.”

After the dust settled on a federal dismantling effort, I suspect CA would be better off and Ohio (Boehner’s state) and Wisconsin (Ryan’s state) would be worse off.

Does
anybody out there have any
memory
Of the
reason given for the
establishment
Of
the
DEPARTMENT
OF ENERGY
During the
Carter
Administration?
? Anybody?
? Anything?
? No?
? Didn’t
think so!
Bottom
line …
We’ve
spent several hundred billion
dollars
In support
of an agency
…the reason
For which
not one person who
reads
This can remember.
Ready???????
It was very
simple..
And at the
time everybody
thought It very
appropriate…
The
‘Department
of Energy’
Was
instituted
on
8-04-1977
TO LESSEN
OUR
DEPENDENCE
ON FOREIGN
OIL.
Hey,
pretty efficient, huh?????

ANDNOW
IT’S 2011,
34 YEARS
LATER….
AND THE
BUDGET FOR THIS
NECESSARY
DEPARTMENT
IS AT
$24.2 BILLION A YEAR
IT
HAS
16,000
FEDERAL
EMPLOYEES
AND
APPROXIMATELY
100,000
CONTRACT
EMPLOYEES
AND LOOK
AT THE JOB IT HAS DONE!

THIS IS
WHERE YOU
SLAP YOUR
FOREHEAD AND SAY
‘WHAT WAS I
THINKING?’
Ah, yes,
good old
bureaucracy…
And NOW _
we are going to
turn
The
Banking System, Health Care
&
The Auto
Industry over to
Government
ALL IN THE
NAME OF CHANGE?
May God
Help Us !!!
Keep this
one going….

Dept of Energy owns all the nuclear bombs.

DoE was created to centralize all the stuff the government was already doing related to energy. Its resposibilities weren’t created in 1977. They just got put in the same place. We were already dealing with nukes, and nuclear power plants and radioactive waste the rest. DoE does more basic science research than any other agency. Yeah, lets shut down, Lawrence Livermore, and Brookhaven and all the rest. Maybe the Koch brothers will buy a few of ‘em.

By the way, the Ryan budget also makes major cuts in Medicare (voucher it) and drastically cuts Medicaid (hope you all have long term care insurance), food stamps, and other programs that help the poor. But he isn’t trying to balance the budget quickly. Most of it is returned through giant tax cuts to the wealthy. If you make over $1 million a year you are going to be very happy. He says a lot of tax deductions/credits will be eliminated, but fails to specify them because that would, you know, make middle income people pay attention.

“Dept of Energy owns all the nuclear bombs.”

We had nuclear bombs long before there was a DOE. They were given administrative control to give them something to which they could charge their time.
Get rid of DOE; we will still be just fine!

Hi-Z,

If you eliminate a federal department and don’t eliminate any of its functions, (just send them back where they camre from), then you don’t save any money.

“Didn’t the Soviet Union go down that path, circa 1989?”

it’s not a series of separate and distinct events it’s a process.

the U.S.’s influence is dwindling.

but do you really think the status quo is sustainable? really?

No. We need to raise duties, halve the military, double the very-rich’s taxes, means test Soc. Sec., invest public money in US industries basic research and education, break up monopolies, aid small businesses, go to single-payer and come up with a 20 year plan to become energy independent. This would encourage healthy-capitalism. This would do it. Look to Northern Europe for proof. This is not an academic exercise and the current supply-side, 30 year experiment of American crony, winner-take-all capitalism has FAILED. Proof? Look around you.

And dudes……..Brazil is energy independent. Brazil! LOL, the joke is on us. We didn’t see that coming huh? And Brazil didn’t get that way through the FOS slogan “invisible hand of the market”.

“the U.S.’s influence is dwindling.”

Tanks bee to Allah!

Gonna have to get extra popcorn when those two have a di$puke over oil field acce$$ & price$ & rice-for-oil currencie$ exchange$ … [China & Iran]

“A lot of agencies could be eliminated. Let
the states handle education, housing, epa, etc.”

Education, maybe. Housing, maybe. EPA, I disagree. Pollution created in one state, does not necessarily stay there. Water pollution created in Minneapolis flows all the way to the Gulf. Air pollution created in Nevada affects everyon east of there.

“And dudes……..Brazil is energy independent. Brazil! LOL, the joke is on us. We didn’t see that coming huh? And Brazil didn’t get that way through the FOS slogan “invisible hand of the market”.”

Rio, really the Brazilian Gov’t Tourism Division should send you a $weet monthly $tipend. You’ve moved a visit to Brazil up my list of places to go befores eye dies at least 181 Nation$ [giggling]

Sincerely & Kindest Regards,

Hwy50

Rio, really the Brazilian Gov’t Tourism Division should send you a $weet monthly $tipend.

Brazil’s cool but I don’t idolize it and it has many problems. Part of the reason that I bring up Brazil’s energy independence is because if Brazil can do it, why can’t America? Maybe because we’re too hung up on the “free-market, crony-capitalist” religion.

Big things such as the military, The WPA, The Manhattan Project and National energy independence take a huge and sustained public money effort. To think the market alone could bring about such big things is kind of a joke and flies in the face of reality and history.

And Brazil IS cool to visit.

“What is your state supposed to do when the state next door (and up wind) plants a hundred dirty coal power plants right on the state line.”

Sue the state next door for environmental damages?

Sue the state next door for environmental damages?

Where? In Federal Court? What Federal Court?

This conversation reminds me of my Ex. Any adjustment (frugality) whatsoever is going to be the end of the freakin world!

Store brand beans? I’d rather starve!!!!

“Any adjustment (frugality) whatsoever is going to be the end of the freakin world!”

I see a specific list of adjustments in Rio’s post that doesn’t entail a willy-nilly hacking of every federal agency except the military.

“We need to raise duties, halve the military, double the very-rich’s taxes, means test Soc. Sec., invest public money in US industries basic research and education, break up monopolies, aid small businesses, go to single-payer and come up with a 20 year plan to become energy independent. This would encourage healthy-capitalism.”

My problem with Ryan’s plan is that it doesn’t really tackle the deficit. If the deficit is really a pressing problem, then his budget should reflect that.

TMI

Poor Marie. She’s had so much work done, she’s starting to leak. (a little boat humor…)

More like; Inflate,Deflate,Inflate again…

“Inflate,Deflate,Inflate again…”

Bubblelicious undulation…

Mama’s got a squeeze box
Daddy never sleeps at night

Hwy50 votes for Carl’s interpretation!

“Why would Hank Paulson quit his high paying CEO job to become treasury secretary.”

It might be worth looking into how much in Treasury Bonds he owned, and how much their value increased, at the point of Fall 2008 Wall Street collapse.

people are now able to borrow for below the borrowing cost of government ??

As I have suggested any number of times in the past, IMO, there is going to be a reckoning as it relates to housing, on the back side of all these sub-4% 30 year mortgages…Someday, the government will have backed out of the policy of suppression of rates..Not sure when that will occur, but occur it will…When that happens, the free market will be the only player and that free market will demand a much higher rate on long term mortgages for many reasons including the one you offer…

I suspect that what you may see is a lack of turn-over of inventory…Households will not sell if given a choice…They will add-on or remodel what they have but they aren’t
letten-go of that 3.8% fixed rate 30 year mortgage to get a fixed rate 6% + mortgage…

So what happens to the inventory that is available ?? Got to believe that prices fall due to the increased carry cost…What if you can’t deduct your 6% + interest anymore due to tax reform ?? Deduct your real estate taxes ?? Two more nails that could put downward pressure on prices…

“Not sure when that will occur, but occur it will…When that happens, the free market will be the only player and that free market will demand a much higher rate on long term mortgage$ for many reason$”

[Hwy50 moves over to scdave's line, "here ya go Mr. Dave eyes got an extra beer just for you ... how's the new Jeep fairin'?"]

“I suspect that what you may see is a lack of turn-over of inventory…Households will not sell if given a choice…They will add-on or remodel what they have but they aren’t
letten-go of that 3.8% fixed rate 30 year mortgage to get a fixed rate 6% + mortgage…”

Yup. When interest rates go up, prices have to drop. And, given how laughably low rates are right now, prices are going to drop like a stone if (and notice, I said if) the government lets the rates go up. There’s simply no other way for them to go.

I bought my house last year and only did it because I have the intention of never selling selling it. But, people buying a “starter house” with the intention of appreciation to help them move up? That’s a losing proposition, big time.

The only other alternative is inflation which means cost of living increases, which I don’t see happening in this environment, which means prices STILL have to come down. I think Ben is, how they say, “entre la peste et le choléra.”

how’s the new Jeep fairin’?”] ??

Its still “fairin” @ the Dodge dealership…:(…I will get to it soon…

The only other alternative is inflation ??

Really, I think the only other way for support would be “Wage” inflation…Consumer inflation without wage inflation (stagflation) just makes it more expensive…

The only other alternative is inflation which means cost of living increases, which I don’t see happening in this environment, which means prices STILL have to come down

There is another outcome. Witness what the automakers did in the face of lower demand: They reduced production and raised prices substantially. What this means in the end is a lower standard of living, which is coming to a neighborhood near you soon.

Sounds like inflation to me…

“Let’s see, which is easier?:”

“Foreclo$ure$ or Eviction$”

But I was Robo Leased!

“But I was Robo Lea$ed!”

Owner$hip Title$ isn’t $liced nor diced nor change-a-thee-hand$ w/ notarie$ as witne$$es.

Therefore$:

Your friend$/enemie$/cultgroupie$ might$ have problem$ with legal delay$ & $henanigan proceeding$

Way ahead of you…I think just the ones currently being built combined with the shadow inventory being converted to rentals will be enough to crush rental prices. Unless (until) of course the government steps in and prevents that in order to avoid having the banksters who snapped them up take a loss.

“Way ahead of you…I think just the ones currently being built combined with the shadow inventory being converted to rentals will be enough to crush rental prices.”

Yes. I am looking at a few more decades of affordable renting to come, courtesy of the latest crop of Wall Street muppet investors in foreclosure-to-rental housing.

With few exceptions, got that right.

Eric Hoffer / damn UNION worker / gruff / illegal train hopper / philosopher.

Eye reckons “gruff” ain’t so all too terrible.

But, “philosopher”, what an abyss to falls in to!

WTF is up with using “eye?” Dyslexic? Ebonics?

A lot of for profit businesses don’t pay taxes either.

The difference is the structure. For profit businesses can distribute money to their owners through shares (dividends or the shares can be sold). Non-profits don’t and must primarily engage in one or more of the types of activities that Congress has approved for that status. Range from credit unions to The Gates Foundation. It is an absurdly large chunk of the economy. I don’t remember the percentage.

Amazing the stereotypes, and bigotry.
The “south” fought a war of independence to prevent the overthrow of their rights as sovereign people. We are still fighting that war. The UNION won the big fight. Millions died.
They have been “expanding” their “laws and rules” to the point of a fascist dictatorship since that time.
Obama signed another “executive order” on Friday that allows the federal government to take over just about any agency, business, property, or person, not just in time of “national emergency”, but any time he wants.
He always signs this stuff on friday afternoon, so it doesn’t get any press coverage and new “news” is on the front pages come monday.
Many People of the South realize the federal government is their enemy. The original founders of the US wanted LIMITED government because they knew it could not be trusted. It was never envisioned to become this “expansive”.
Yet, you really smart people up north think we need more and more of it, to control the masses and provide a state-run society by mandate. You can keep it. And the “change”.

We are still fighting that war.

So what happens if you win? Will the 13th Ammendment be abolished?

“The “south” fought a war of independence to prevent the overthrow of their rights as sovereign people.”

Post-Humorous Award goes to: the Man fleeing in women’s clothes, Mrs. Jefferson Davis!

[Hwy50 laughing, wondering if Nazi's ever chuckled amougnst themselves about their Gov't compen$ation $alarie$]

Diogenes, their comments are just further proof that all liberals are bigots. Every last one of them.

Now, anybody got a broader brush?

Moi? Liberal? I used to be a Republican, until the inmates took over the asylum. And no, I’m not a registered Democrat either.

+1 Colorado…Ditto here…

Looking forward to continuing this conversation for FOUR MORE YEARS after O gets re-elected this November Haterz!

The “south” fought a war of independence to prevent the overthrow of their rights as sovereign people.

Ahh, the myth of the “lost-cause”. It sounds so so American, so patriotic doesn’t it? The “noble” South fighting against federal domination….. Domination? No sir. It was all about slavery.

What do you do when your side was totally immoral? What do you do when your side’s very rich held fellow human beings in bondage and treated them as less than animals? What do you do when such a system raped women, flogged, beat, starved and worked to death people because of money and skin color?

Here’s what you do. Starting in the late 1800’s, you come up with sugar-coated, lying myths touting “states-rights” and protectors of “sovereign people” B.S. and you try to hide the pea and distract from the fact that the Civil War was and always will have been about institutionalized racism, unbounded greed, bigotry and SLAVERY.

+1 Rio. I’m tired of the states-rights BS. It was always about slavery.

Many People of the South realize the federal government is their enemy ??

Right up until the first of the month when the money gets wired to their account…On that day, there is a grace period…

are you among the suckers who pay for those bennies, yet vote against your self-interest ??

When I am given a choice of voting for someone like Palin or voting against my self interest then I vote against my self interest…Ditto with Bush which has proven correct with the most conservative of republicans (George Will) running from him like the plague…

further proof that all liberals are bigots. Every last one of them. Now, anybody got a broader brush ?

Liberal ?? Hardly…Among other things, I would appreciate your group keeping the mandatory Ultra-Sound test out of my daughters Vagina though…

Bigot ?? Wow…Have to say thats the first time I have been called that…Why ?? Because the facts bear out that most of entitlement money (from all sources) flows to the southern states per capita and those same people that would vote for Santorum, who would support a Ryan plan that would take it all away…Now tell me, are they voting against their self interest or are they the real “bigots”….

Haha good one Bill.

They are better than rest of us. Their $hit doesn’t stink. They are above basic human emotions like greed. They are just better and they have no self interest.

I’ll let the content of the Bloomberg article speak for itself, haterz

“Or are you among the suckers who pay for those bennies, yet vote against your self-interest?”

There are actually benefits from that. Having lived 12 years in a third world country, I don’t ever want to see the grinding poverty I saw there, nor do I want to have to barricade myself in my home out of fear of being kidnapped.

But the southern conservatives voting againt their self interest goes beyond losing their welfare benefits. They support a party that has systematically enabled and even cheered the offshoring of the jobs that used to provide a middle class standard of living. A party that when confronted by the swelling chasm between the rich and poor mocks the poor as “envious”.

And why do they vote for these D-bags? Because they give lip service to the social values embraced by the southern electorate.

And why do they vote for these D-bags? Because they give lip service to the social values embraced by the southern electorate.

Yup. Yet the Ds still don’t learn from that. And don’t tell me it’s an integrity thing.

Haha good one Bill.

It was good but Bill’s written better jokes before.

So, when southerners vote against their self interest they’re fools but when the liberal elite vote against their self interest they’re doing the right thing. Okaaay.

Amazing how effortlessly the liberal mind can apply different standards as needed. Yes, so can the conservative mind. But in this case the illogic is on the liberal side.

So, when southerners vote against their self interest they’re fools but when the liberal elite vote against their self interest they’re doing the right thing. Okaaay.

Here’s a big difference: What you can personally affect and the extent the issues will automatically effect you.

Most times the southerners are voting against their economic interest. A macro-economic interest or situation is much harder to personally control than it is to control the conservative social issue’s effect on our lives.

Examples: If there are no jobs, there are no jobs so what are you going to do? However if you are against abortions or gay marriages, well, don’t get an abortion and don’t marry someone else who’s gay. (But if you are conservative and you’re gay and you don’t get gay married, you’ve solved both “issues”)

You need counseling, Michele Bachmann’s husband can help you

Did you intend to include every male every born in your grouping?

….. jiminy cripps…. something is very wrong with that pair.

And you’re secretly obsessed with Sean Hannity in a leather thong and harness, giving you that sly, come-hither look through your TeeVee…

So long as I can beat him senseless.

Secret wrassling fantasy: Sean Hannity versus Rush in leather thongs and harnesses…

+1 Gramps looks out for numero uno.

lil’ Opie’s “administration’s decision to reject TransCanada Corp” Poor Canada

“Railroad$ are not just a stopgap while we wait for a pipeline,” Hatch said in an interview. “They are potentially part of the long-term $olution.”

250 Americanrevenuegeneratingrailcar$ =
[50' * 250] = 12,500 feet of movable pipeline. + [x2 train engineer's UNION $alary]

All Aboard Amtrak!

[It's America we're talking 'bout]

And all those F-350’s are now in the used car
lots.

I’m certain the the F-350 guys would have sent a crew of illegals to do the job.

+1 Sounds like you’ve been around the block before.

Sort of reminds me of my dentist - always recommending additional work that I needed. He also had a huge staff (albeit hot, young women) and plasma tee-vees in every room with stereos and shiny new gadgetry everywhere.

I switched to a dentist with the basic equipment pertinent to my basic needs and my dental bills went way down.

I guess someone hasd to pay for that stuff.

“Sort of reminds me of my dentist”

We fired Dr. Pricey a long time ago.

“Sort of reminds me of my dentist”

We fired Dr. Pricey a long time ago.

So did I. She also had the very cool gadgetry in every room. And the staff that was big on recommending this, that, and the other thing. For my health, of course.

“Sort of reminds me of my dentist”

I paid my $160 a month 1st world health insurance bill for a year before I learned it covered dental too.

Sorry…..

The realtor said we should offer close to full asking price.

The realtor said great bargains and deals go fast, so prospective home buyers should realize this.

The realtor said yes, those trees over there do belong to your lot.

So I offered 105% of asking and slipped the realtor the $1000 she asked for so that my offer was considered……

The Realtor said Yes! Yes! Yes! … I do know of a GREAT appraiser! & a loan officer & a local banker & [his wife #3, she's also a realtor/liar-in-my-office!] & e$crow officer$, & a notary & land$cape architect & a gardener, & pool cleaner [Billy-the-boy-man] & a hair $tylist & a tattoo Ar-tee-ist & gourmet dog bi$cuit maker & Mercedes/BMW/Vulva dealership agent [Ricky-from-Miami] & Moving Co. [Joey & -the-boys-who work & sweat-so-hard] & a Plumber [who-smells-nice-by-the-way] & a lawyer [found him from my 1st divorce] & a Financial planner [Lola, she helped me to forget all about my divorce lawyer, Bob/Robert] & …

(Agents car door closes …talking continues, nothing audible to report).

My husband and I like to troll on Ebay, you know, bid up stuff that we wouldn’t go out of our way to buy, (unless we get it for a really good price, like our bid). We usually don’t win, but once in a while the other bidders are asleep at the wheel and we’ll get something for a steal. A short sale came up last month in a community near the beach that we have been looking at. We asked the house sales clerk what a good offer would be and she told us $100,000 over asking, (like that’s gonna happen). So, we put in an offer $6,000 over asking. She also told us that falling prices had plateaued and that the flow of foreclosures was stanching. What’s that tagline you guys use on here? It’s on the tip of my tongue but just can’t think of it…

And any low hanging fruit from next door (including the pool boy) is yours for the taking!

That’s also why I say “NEVER let an accountant run your business.”

The Reagan reference to his being the head cheerleader for “supply side” economics, what was once called “voodoo economics”.

It basically said that supply and demand should be decoupled and that speculation, along with deregulation, was the wave of the future.

It was this philosophy that lead to the Tax Reform Act of 1986, which also dereguled Savings & Loans, that then lead directly to the S&L disaster, the forerunner of today’s disaster.

“That’s why accountants think economists are idiots or insane or both.”

That reminds me of the reason they invented actuaries: To make accountants seem less boring.

LOL! That would do it! Actually, I know a lot of utterly fascinating accountants.

I know for a fact that not all (former) actuaries are boring. For instance, check out this dude’s bio.

I’d prefer boring over that any day. The hat (and faded side burns) make him look like a giant douche bag. Was that mean? I’m so insensitive, I can’t tell anymore.

Yup.

Give it your best shot.

Tanks for the reminder, [eyes e$pecially liked the interviews in the extra features section of that film.]

Question #1: “Give it your best shot.”

Answer: $ir Glenn “Hub-bub” Tard

Manife$to: “$eeds of De$truction”

$ub-Group affliation$:
“Linda-the-Lunch-Lady-Live$-Lavi$hly!!!”

Favorite drink: Koch-aid w/a-bitter twi$t

2010 winner of this award: “You’ve got 2 minute$!”

Political party: Repubican

Board member of:
Automatic Data Processing
BlackRock Fin.
Duke Realty
KKR Fin. Corp.
Ripplewood Holdings
MetLife Inc.

Hubbard is a Visiting Scholar at the conservative American Enterprise In$titute, where he studies tax policy and health care of the Wealthie$ & $uffering $o’s.

Hubbard was an economic advisor to the 2008 presidential campaign of Mitt’$ Romney’$ and in 2012.

Parents:
Charles Whistnant Hubbard
Myrtle Jean (Dabbs) Hubbard

Mastered the Hula-Hoop at age 4

Miscellaneou$:

In$ide Job / The Film

Hubbard was interviewed in Charles Ferguson’s Oscar-winning documentary film, Inside Job (2010), discussing his advocacy, as chief economic advisor to the Bush Administration, of deregulation, which Ferguson argues led to the 2008 international banking crisis sparked by the collapse of Lehman Brothers and the sale of Merrill Lynch. In the interview, Ferguson asks Hubbard to enumerate the firms from whom he receives outside income as an advisory board member in the context of possible conflict of interest. Hubbard, hitherto cooperative, declines to answer and threatens to end the interview.

After the release of the film, Columbia ramped up ongoing efforts to strengthen and clarify their conflict of interest disclosure requirements. Columbia Business School professor Michael Feiner, a member of the faculty committee of Columbia’s Sanford C. Bernstein and Co. Center for Leadership and Ethics, has recommended that the film be shown to all business school students.

From 1992 to 2008, the top 400 taxpayers’ percentage of total income almost tripled: http://www.irs.gov/pub/irs-soi/08intop400.pdf

These bubbles and bursts are like a giant bellows, sucking money from outsiders and pushing it towards insiders.

The William K. Black interview on Bill Moyers is highly recommended primer.

“The Inside Job” documentary is also a highly recommended primer on the financial climate of the 2000s.

Your use of the term “1%” is, in and of itself, class warfare. Just wait until the “Producers” go all John Galt and then you’ll really be sorry…

Damn!

Good catch.

fair wages, benefits, rights, safety regulations

Important parts of the broken “Social Contract”.

Nothing even remotely approaching a “social contract” existed in this country before the 1940’s. It came about because of the shared sacrifice needed to win WWII.

With no enemy now threatening our existence, it’s once again “every man for himself.” That’s the norm. Not necessary right, but the norm.

Nothing even remotely approaching a “social contract” existed in this country before the 1940’s.

That’s just plain wrong. Of course the Social Contract existed before the 1940’s. Republican Theodore “Teddy” Roosevelt’s breaking up monopolies 1901-1901 is just one example.

Also, read the Preamble of the US Constitution. (A very liberal document and idea BTW)

How can you guys even remotely believe Government, Businesses, and People do not or should not have a cooperative relationship? How far “free-market”, “Dollar is the only God” have you guys been led? No history? No Anthropology? No Sociology? Just money???

Thank you! I was trying to figure out how to get the EMPATHY acronym out of my program proposal. Since Mitt is working on his southern accent, perhaps he will look into this idea.

Is it true you can see Kansas on a clear day?

I think this boom cycle happened more abruptly than anticipated and the market was caught flat-footed. But I agree: $31k median salary + $425k avg home price = Bubble