The latest housing initiative announced today by the Obama Administration draws the U.S. government and, by proxy, all taxpaying Americans, further into the inescapable quagmire of a devastated real estate market.
By transferring more underwater mortgage balances onto the public books, the plan puts taxpayers on the hook for further losses if housing prices continue to fall. Given the massive support for real estate already afforded by record-low interest rates and massive federal tax and policy incentives, there are very good reasons to believe that home prices will indeed collapse when these crutches are removed. Recent spikes in long-term interest rates warn of this prospect.
If the Administration had allowed losses to fall where they rightfully belong, namely on those who foolishly loaded up on toxic mortgage bonds, then the housing market would have already found its true clearing level. Instead, every measure is working to prolong and delay the ultimate reckoning, while setting up taxpayers as the patsy. Given the horrendous government deficit projections for the next several years, any losses incurred by the government mortgage portfolio may add a critical stress on America's fiscal viability.
More Here..
Five Asians and One American are living on an island ....
ReplyDeleteThe five Asians screw the American because the American doesn't know how to grow food, fish, hunt or do anything except being screwed.
ReplyDeleteI know what appears to be coming our way...I just want a lil bit more time to prep...I'm hoping another year or two before it all goes to hell.
ReplyDeleteTrust me even among us preppers only 1 in 5 maybe fully capable of going more than 5 years before he breaks down...And that's among the prepared ones!
What will the 95% of people not ready do? Loot and pillage people...People with nothing to lose will do anything...It's not just thieves and robbers you'll worry about.
Well, for those expecting a revolution at the collapse I must chuckle. The 98% will be starving within just a few days. It won't matter if they have a gun or whatever. No food, they submit or die.
ReplyDeleteSpeaking of a good chuckle; I am reminded in a recent e-mail that the new "green" energy star
ReplyDeleterating board has seen fit to PASS a gasoline driven alarm clock !
We are so screwed we don't even know - I should be keeping track of every time the words taxpayer
bailout or the american people blah balh blah -
Shit man - how much do the poor bastards ( taxpayers) have left ! I mean sonofabitch ! everytime I turn around it's another taxpayer this and taxpayer that - hell; here in my state of Pa. we got our own gadamn Governor trying like hell to toll Interstate 80 ! What the F+++
I am so pissed that I took half of my savings and built a 50 X 120' greenhouse.
Screw 'em at least I'll eat good while they ruin
my country!
If people want to try to loot and pillage, then they should consider that they might be shot and killed. One body dead in front of your door is enough to keep other away? Msybe 2 or 4?
ReplyDeleteNone of you will truly be perpared for a major collapse and will eventually run out of food unless you learn about growing or obtaining your own and simplifying your lifestyle. Most Americans demand their conveniences and to be served. This includes those on the extreme right who think just because they have weapons, gold, and a 2 month supply of food they are okay.
ReplyDeleteA greenhouse; properly constructed ( and heated w/ wood waste etc.) is a self perpetuating source of food if one grows heirloom varieties suited for said greenhouse.
ReplyDeleteDo not grow any Hybrids; you cannot gather the seed.
One as big as previous poster here will comfortably feed 4 families of 5 yearround
no problem.
Cannot speak as to Pedro showing up - but as part of preparedness; if you have family; they should all be taught how to handle a firearm.
Shotguns ( short barrelled 20 ga. side by sides are ideal for women to handle/load etc.) and are unbeatable for home defense - load the left barrel with #9 birdshot ( won't shoot thru 2 walls and kill the person in the next bedroom) and the right barrel with #4 Buckshot ( deadly lethal to 50 yards ). My wife can send this combination downrange with enough efficency that pedro had better have ALOT of
companions with him because when I hear it going off - I'm comin' a runnin' and I pack a pair of Glock 10mm & that's 30 rounds of 130 grain HP -
Better yet; better tell Pedro to bring his whole country 'cause by this time my neighbor has heard the ruckus and you oughta see this dudes aresenal !
Are you sure you aren't a member of the Hutaree militia? I dont know, with all your talk about arsenals and killing off other races.
ReplyDelete03.24.10
ReplyDeleteHi, Quietly and Patiently planning my Personal Great Escape. Yes, I am now amassing all the Unsecured Credit Lines I can accumulate (visa etc). I have been laying the ground work for several years to take the Banks Lines of Credit Down for as much as I can obtain. I am buying 1/10 th oz gold coins, bags of silver coins and stashing cash every couple of months and obtaining the funds while in different names. I purchase a small but nice place in North Western Canada (wilderness area) to flee too! I have Perfect Credit, Valuable Home, Excellent Income, Retired, Much Cash on Hand and my home is protected by the Homestead Exemption (cannot be touch -if they take it won't matter, gold-silver-cash in ground). Enjoying Freedom again will be as it was in the good old days; getting away from Large Cities, Pollution, Taxes, Crime, Queers, Corruption in Politics and the galloping crud of mass human civilization invading our country. My fourth trip is planned to Canada to bury more funds just like Jessie James. Fought in Nam (wounded) and believed in the good old USA only to find it a Total Fraud. For the last 10 years I wanted and hoped this country would wake up and correct its course of action but to no avail. I see the Mongrel Humans, Free Martins, The Illuminati, The Invisible Empire and a One World Government taking over our country before my very eyes as our Government is a Cesspool of Legalized Criminals and Financial Terrorists.
I have never been so excited about any project in my life, knowing I will be able to screw these Jew Bastards and our corrupt Government that control our Wage Earners, Banking Systems and Financial Centers. I am going to walk away with gold, silver coins and cash and the government can consider it a gift to me as a real Bailout (real money) and add it to the National Debt with its Trillions of Shit Paper. As I get 5 to 20 Gold Coins a month and watching the Cash piling up makes me feel like D. B. COOPER or WILLIE SUTTON getting ready to pull off a bank job. AMERICANS wake up and get a STEALTH ESCAPE PLAN to protect yourself and family ASAP. Forget guns, fighting and rebellion; use your brain to remove yourself from the Chaos and Anarchy coming down to its citizens. What Hitler did to Europe will be a patch on your ass to what One World Government will do to You. Know your Enemy and fear him well because you are in his gun sites. Get out of the Either and quite worrying about voting and hoping for a better world, Freedom has VAPORIZED.
Wake and prepare your families before its to late. USE YOUR BRAIN, GET SMART AND PLEASE PREPARE YOUR FAMILIES NOW AS YOU WOULD FOR RETIREMENT. THANKS, DEC
Good for you on swindling the greedy banks, but I never knew there were so many paranoid people on the right out there who despised races and other people different than them, like gays. It's kind of worrying how confused, angry, and violent (not you) some of them sound.
ReplyDeleteALL I AM LOOKING FOR IS A TIME FRAME?
ReplyDeleteITS LIKE A WAGON WITH A CRACKED AXLE LOOKING FOR A POT HOLE?