MONEY: The risk of bonds when the Gooferment gets “active”

http://www.reuters.com/article/2011/08/31/us-usa-obama-housing-idUSTRE77T6DV20110831

White House could unveil mortgage plan next week
By Margaret Chadbourn
WASHINGTON | Wed Aug 31, 2011 6:40am EDT

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While mortgage rates have been hovering around record low levels, banks remain stingy with lending although they are sitting on more than $1 trillion in excess reserves. Homeowners without a job or good credit histories have been essentially shut out of the refinancing process.

Some investors say the economic benefit of a government-encouraged refinancing wave would be minimal.

“It’s a political hail Mary. It’s unclear why they want to throw a monkey wrench into a $5 trillion market,” said John Kerschner, head of securitized products at Janus Capital Group in Denver. He said the net benefits for the economy are negligible, perhaps adding $20 billion to $30 billion “at best” to the U.S. economy.

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Old King Canute, aka BHO44, is trying to pick winners and losers again.

The Gooferment has nothing. All it can do is move “stuff” around. The “poor homeowners” are going to be the “winners” and the “rich bondholders” will be the losers.

In actuality, the winners are the politicians and bureaucrats. They will be rewarded by the lobbyists and the voters.

Aren’t these the same “bad assets” that we bought, or were supposed to buy, under one of the many TARPs?

Sorry, but wishing doesn’t make it so.

Any wonder why I’m a Gold Bug? Told you not to get caught in the bear trap (i.e., move to the “safety” of bonds from “risky” stocks”).

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ADMINISTRIVIA: Scheduled my next platelet donation for September

Here’s my prompt:

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Hello Ferdinand,

Find us on Facebook!

We at the Blood Center of New Jersey would like to thank you for your Apheresis donation on 08/26/2011. The need for blood and blood products by our local hospitals and medical centers has become even more critical in recent years. Your A Positive donation is greatly appreciated by us and the patient(s) it helps.

Thank you for participating in our e-donor program by supplying your email address. We hope this will be a great service for our donors in that it allows us to notify you directly and quickly of matters of importance to you and your community. For example, this is the fastest way to get your cholesterol results back to you. You will still receive a donation card in the mail a couple of weeks from now.

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When’s yours?

Lotta people need help. Make the same help, that Our Girl got, available to them.

Talks cheap; blood or platelet donation is easy.

So, in the words of a long lost injineering prof: “You’re probably not too stupid to bleed correctly. Go prove me wrong. Class dismissed.”

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FUN: A Congress of … …

FROM LUDITE

The English language has some wonderfully anthropomorphic collective nouns for the various groups of animals.

We are all familiar with a Herd of cows, a Flock of chickens, a School of fish and a Gaggle of geese. However, less widely known is a Pride of lions, a Murder of crows (as well as their cousins the rooks and ravens), an Exaltation of doves and, presumably because they look so wise, a Parliament of owls.

Now consider a group of Baboons. They are the loudest, most dangerous, most obnoxious, most viciously aggressive and least intelligent of all primates. And what is the proper collective noun for a group of baboons? Believe it or not ……. a Congress! I guess that pretty much explains the things that come out of Washington ! A Congress of Baboons!

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Clearly an insult to baboons everywhere.

ROFL!

Now what “anthropomorphic collective nouns” to outraged taxpayers?

The Tea Party?

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Categories FUN

POLITICAL: The USA needs the H1B visa

http://www.wimp.com/kakusecret/

On Tue, Aug 23, 2011 at 9:45 AM, LUDDITE wrote:

Interesting discussion.

Click here: Dr. Michio Kaku: America has a secret weapon. [VIDEO]

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So why don’t we have a little L libertarian immigration policy? Open up the borders to folks who want to work. Show up at the border, get a free medical check, give your dna – fingerprint – picture, agree not to take welfare, and here’s your “green card” — welcome to America, land of opportunity. Commit a crime, you’re on the first thing going “home”.

And, while we are at it, let’s ween our own folks off welfare. Welfare is reduced 5% per year for the next 20 years. Minimum wage decreased 5% per year for the next 20 years.

“(pseudo) War on (some) Drugs” ended.

Bet we’ll have a boom!

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