More Media and Government Lies

The media does the Wall Street bidding.... roots on a weaker dollar.... higher crude oil and commodity prices... all of which translate to higher retail pricing... then turns around and has the temerity to go along with the exclusion of those higher prices from the inflation numbers... more slight of hand...you paid more, but you really didn't more!! Yet further proof that congress has been bought off, yet again... what is good for Wall Street, is rarely, if ever good for the real world west of the Hudson...

Go back and check the time line of the housing crisis… at the exact same time that the first rate adjustment hit the sub-prime loans, pump prices leapt to the $4 range… People simply could not afford to get out of bed and commute to work… and there they were, and still are, the Cavuto's, Cramer's, Burnett's, Kudlow's, Wall Street Journal's, CNBC's, FBN's, CNN's all doing Wall Streets bidding... the truth be damned, have to keep those advertising dollars flowing...

This crisis will not end until there is rapid, make sense (for both lender and borrower) loan modification is in place… at present millions of the self employed are being denied any form of relief… Loan modification still demands that the homeowner be no less than sixty days past due, and takes five to seven months. Even when completed, the modification provided is very often a prescription for failure, causing the high recurrence of default figures. The residential crisis IS the root cause of the impending commercial real estate crash… consumers are not shopping in anywhere near the numbers required to provide the stimulus for businesses to recreate jobs… stores and businesses (many financed by CIT) close there doors… vacant retail and office space brings in how much rent???….

The “Great Depression” started on Wall Street, and ended fourteen years later on the deck of the USS Missouri… This crisis, caused by the actions of Wall Street, encouraged and enabled by congress, and rooted on by the media has its roots in the residential neighborhoods of Stockton, Riverside, Las Vegas, Detroit and countless cities across the county… and MUST end first where it began...The cures that have been employed to date, The Stimulus, TARP, EESA are all akin to going to the hospital with a heart attack, and being treated for an ingrown toenail… IT’S THE FORECLOSURES STUPID…. IT’S THE FORECLOSURES…

False Hope

There was a spike in pending real estate sales last moth... the markets are all excited... the end of the depression is at hand... a light at the end of the tunnel... wrong...

Pray tell, how many were NOT either an REO or short sales... how many are NOT being financed by the FHA... should they all closes, how many will have an LTV below 95%... how many of these Buyer's have a FICO score that would pass muster at Fannie or Freddie...how many have borrowed down payments and non-occupant co-borrowers... don't get too excited... in failing to properly address the foreclosure issue, that great Cacophony of Conceited Condescending Clueless Clowns of Congress has made certain that "the markets" can stay all a twitter for no less than another 2 years... too bad that Disneyland isn't still selling "E" tickets...

In funding what can only be described as sub-prime loans, isn't the FHA merely laying the ground for the next real estate crash? ONLY a Realtor, Congress, Wall Street, media and the truly naive' believe that a person losing their home is a marvelous business opportunity...

What am I missing....