Two American Heroes, Ron Paul and Peter Schiff!
Written by admin on December 20, 2008 – 3:11 pm -These are the only true American heroes today, Ron Paul and Peter Schiff.
I hope all of you Kool-Aid drinkers are happy with your choice. Keep repeating to your self ” Yes We Can!” Because very soon all you’ll be hearing is “No We Can’t!”
Tags: economy, Peter Schiff, Ron Paul
Posted in Economics | No Comments »
Housing Crash and The Coming Economic Collapse!
Written by admin on November 27, 2007 – 3:24 pm -
U.S. home prices fell 4.5 percent in the third quarter from a year earlier, the sharpest drop since Standard & Poor’s began its nationwide housing index in 1987 and another sign that the housing slump is far from over, the research group said Tuesday.
One of the index’s creators also predicted that there’s a significant chance of a recession as the economy contends with falling housing prices, spiking foreclosures and turmoil in the financial markets.
“Over 50 percent,” said MacroMarkets LLC Chief Economist Robert Shiller, giving his odds for a recession. Other economists have put the chance of recession at one in three.
“We’re in the aftermath of the biggest housing boom in history, so how do we use historical data to judge the outcome?” he said. “We’re out of the range of the normal variation in the data and I take that as very significant.”
Yeah, no SH#@ you are out of the normal variation in the data. This is the biggest financial bubble in the history of the earth. Everything was normal when you idiots were bidding up the price on a one bedroom cape cod that should not have sold for more than three times a persons annual salary, but now when things are returning to normal there must be something wrong!
This issue goes far beyond the housing prices, this is just the beginning. I here allot of people trying to explain what kind of mess we are in but they just don’t seem to explain it right or should I say simple enough for the average American dumb-ass. That is what I will try and do.
In the past when you needed a loan for a house you went to your local bank and asked for a loan. Then they would either approve or deny you. If they approved you, they would loan you the money of the other local residents that had money in the local bank. Your neighbors money. They would charge you say 10% on the loan and pay the other local residents a percentage for loaning the bank the money in deposits. OK, good, sounds right.
In the past ten years Americans stopped saving, so the banks had no money to loan people for loans. They came up with an idea. Let’s approve the loans and package them all up and sell them to wall-street, like a bond, which is just a loan. These bundles of loans were rate as triple AAA, that means something as good as gold, the value never goes down. The hedge funds and other institutions bought these bonds thinking they will never lose value. Say they bought 1 million dollars worth of these bundled loans, then they wanted to buy 2 million dollars of something else, like stock. So they need a loan. They ask a bank to give them 2 million dollars to buy this new stock. The bank says where is your collateral, they say here, I have 1 million dollars worth of these bundled up loans which are rated triple AAA. The bank goes ok, great, if I need my 2 million I am loaning you back, you can always cash in these bundled loans that are worth 1 million dollars and that never lose value.
Well, guess what, the bank wants their 2 million dollars they borrowed and they are trying to cash in these loans that are supposed to never lose value and they can’t get what they paid for them and there are a trillion dollars worth of this garbage out there.
So the base was built on sand and we are just beginning to tip over. This should be very interesting. This is going to have ripples around the whole world. Recession? We should be so lucky!
Tags: decline, depression, economy, housing crash, price
Posted in News | No Comments »
Black Friday shopping sheeple herd to the stores despite the coming economic collapse!
Written by admin on November 23, 2007 – 2:20 pm -
What a bunch of idiots. What the hell can be such a great deal to line up in the middle of the night to buy. What the hell are they saving? Ten, Twenty dollars!? I think these people just get caught up in the herd mentality.
Obviously these people are oblivious to the economic crisis that we are currently facing. The U.S dollar is collapsing. The housing market is collapsing, the stock market is collapsing, the credit markets are collapsing, oil is going to over $100.00 a barrel, gas is over $3.00 a gallon, food prices are going through the roof and these people line up in the middle of the night to shop like nothing is wrong.
If you listen to the talking heads on the news channels today you would think that everything is fine and dandy. They were in the malls talking to these idiots that lined up in teh middle of the night and asked them if they were worried about the economy and record gas prices. The shoppers were all full of smiles and saying they weren’t worried at all. They just want to shop and enjoy themselves.
There was this other reporter who was doing a report from a Walmart and that store was empty. He actually said the store was empty and they panned the camera around the store to show not one customer in sight. Now of course this propagandist had to put a positive spin on this to keep the American people oblivious to reality and keep them living in their dream world where America is can do no wrong, said that the reason the store was empty is because all the people came in to buy from 5am to 11am when teh sale was on and now that the deals are over they all left. Yeah, I buy that reason, keep on telling it, I am sure the sheeple will believe it.
And to put icing on the cake, I read today that the wall-street firms in a year with record losses, announced that they would also be paying record bonuses to their employees. The rationale for this bullshit was that since the losses were not the fault of the employees , they should not be made to suffer. OH Really!!!! Then who’s at fault. The employees are the ones that trade for the client. So, screw the client, it is his fault he lost money, real good.
Oh, one thing I would have liked the talking heads ask the shoppers is ” are you paying with cash or credit today?” I guarantee they were all paying with credit. Credit we no longer have. Nice, real nice!
Tags: black friday, disaster, dollar collapse, economy, market collapse, oil prices, sheeple, shoppers, wallstreet
Posted in News | No Comments »