INTERESTING: Time to nuke Freddy and Fannie!

Thursday, July 1, 2010

http://online.wsj.com/article/SB10001424052748703513604575310383542102668.html?mod=WSJ_hps_sections_realestate

CAPITALJUNE 17, 2010
Rethinking Part of the American Dream
By DAVID WESSEL

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In hard-hit Las Vegas, nearly 59% of households own their homes, but only 15% to 19% of households own a home in which they have any equity left.

For many, the American dream of home ownership turned into a nightmare of debt and foreclosure. Some people should rent.

As late as the 1930s, a U.S. mortgage was generally a loan for three to five years, at which time the borrower had to pay it off. Then the government fostered the 15-year fixed-rate mortgage—and eventually the 30—and the concept that the homeowner would pay off principal in monthly installments.

*** end quote ***

Argh!

Several thoughts occur to me here:

① 15 to 20% of homes left with the owners having equity? All those senior citizens who bought retirement homes? That’s astounding.

② Talk about malinvestment. (That’s Austrian economics term. See below.) Detroit, Flint, and Gary are destroying houses to avoid providing gooferment services. We as a society have our wealth destroyed by such action. Are there no homeles there?

③ It would seem that the FTC and the TREASURY / FED / SEC could stop this disaster anytime they want to. Regulations of minimum down payment like stock margins. Rules about honest disclosure. Limits on what banks can resell as “securities”. AND, the biggest rule, the originator get stuck with defaults! No more package it and forget it. (But then we’d see just how crappy the economy is. And, how many banks would be insolvent. It’s in the Gooferment’s interest to keep putting lipstick on the is pig. Pucker up! Guess who’s going ot have to kiss it?

④ I remember reading that Freddy and Fannie make the economy more uncompetitive and more “rigid” in that owning a home meant the workforce could not adapt to new opportunities in new locations. A high percentage of folks renting means they can move more quickly. Didn’t the Mayans force migrations by burning the village and forcing them to move hundreds of miles? Is this our modern equvalent?

⑤ Speaking of Freddy and Fannie, I see where bailing them out is going to be the “mother of all bailouts”. Shouldn’t we put them out of their, and our, misery? Time for a Constitutional Amendment banning all GSEs! (Gooferment Sponsored Entities)

⑥ Why don’t we bring back the 30 year Treasury Bond as a method of financing the deficit and easing the pain we are facing? Or is the GOoferment afraid of what that 30 year rate will be?

⑦ On HGTV, there are a lot of home buyers, some first timers, who are buying big ticket homes with nearly nothing down. Several hundred thousand dollar mortgages and they need “mortgage assistance”, seller paid closing costs, and even the tax credits to make the numbers work at all. And, in the cases of two income “families” (i.e., DINKs), one paycheck is completely going to the mortgage. Isn’t that a recipe for default in a job loss scenario?

⑧ Perhaps, it’s time for multi-generational households (i.e., grandma and grandpa buy with their retirement money; mom, dad, and the grandkids bunk in)? Wasn’t that the model before Social Security allowed Grandparents to escape to Florida? Makes the Grandparent able to dodge the nursing home.

⑨ Interesting that the Wall Street Journal paywall isn’t very encompassing.

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http://en.wikipedia.org/wiki/Malinvestment

“Panics do not destroy capital; they merely reveal the extent to which it has been destroyed by its betrayal into hopelessly unproductive works.”

— John Mills, December 11, 1867, on Credit Cycles and the Origin of Commercial Panics

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INTERESTING: It’s the Gooferment’s fault; not BP’s

Monday, June 28, 2010

http://www.youtube.com/watch?v=xdZ5LCNmvFQ&feature=player_embedded

June 26, 2010

Calm Judge Napolitano vs. Excitable Shep Smith

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Interesting the 75$M liability cap allowed BP to proceed without insurance. Interesting that the Gooferment predicted that spilled oil wouldn’t reach the shore. Interesting that the Gooferment immunizes itself and its bureaucrats from being held responsibile.

Argh!

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RANT: The joy of graduation; marred by speakers

Friday, June 25, 2010

YESTERDAY I went to a graduation. Entertaining! The “beautiful” children, the happy relatives, the school staff, and at least two politicians.

(The children were all “beautiful”. Different shapes and sizes. Some dressed up; some down. One girl has new high heeled … … sneakers! Another wore what had to be five inch stilettos that were obviously new and she could barely walk in them. One guy had old sneaks; another plaid beach shoes. Funny! They were “beautiful” because they were almost all smiling. Full of joy. Enthusiasm. Party time. Sigh!)

They showed a photo slide show of the school and graduates. No words just music.

(A technical criticism of the “show”. This is VoTech with an “Arts” track. The music was ill-timed. Or mixed. The audience got restless when the music came to a natural end; the photos kept going. Some music rejoined the “show”. When the pictures began to repeat. The show was stopped. And we were left looking at the Windoze logo. The “show” wasn’t run by a student. <Unless students are very old.> So it was evidence of poor execution.)

The next “rudeness”was to leave the audience sitting there, looking around, wondering what was going to happen. A good ten minutes — I timed it — and there were at least five hundred people sitting there. What a waste. It was rude.

So finally some one got their act together, and the graduates paraded in. It was more like a dual column single file dash to the chairs. With gaps and bunches worthy of any freeway. As a vet of many parades, graduations, processions, it was shocking. And, I understand there were at least three practices. (What did they practice?)

Any way, then came the Pledge of Allegiance …

201006241725.jpg

(The Pledge is un-American. Written by an American Nazi who was a flag salesman. TOo indoctrinate school children and make himself a bunch of easy sales. The whole American education system is designed to create dummies; cannon fodder for the Army and the factories. All designed to be led by the Elite! Argh!)

… which always makes me think. But then what did you expect from a gooferment school? Sure didn’t expect them to sing a hymm. However, they are a gooferment school so you have to expect some gooferment worship to be built in.

Then we got to the speeches. (Oh, joy, oh joy!)

First up was an old Board Of Ed fellow. He was almost impossible to hear. Can’t remember anything he said of value.

(How much in taxes have I paid for this school? The taxpayers got weenied. It’s supposed to be a theater. With acoustics and a sound system that stinks. I’d like to follow the money on that one.)

Next up was the politician from the Middlesex County Freeholders. She was at least audible. Unfortunately. (I really wish I had the text of the remarks so that I could adequately report what WAS said. As opposed to what I think I heard.) I heard some praise for the parents. With an assertion about what was the most important in a child’s development. I guess it was the parent’s willingness to send the children to school. (That’s what I think I heard!) Of course, I disagree. … …

(I’d say the most important single factor in a child’s development is really two co-factors. Parents aren’t a single homogeneous unit; they are a man and a woman seeking to propagate the species. — OK, that’s a side effect of the sought after activity — It is the Mom’s unconditional love for the child combined with the Father’s unconditional devotion to the child’s needs. Different, very different, but both essential. Schooling is way down on the list. And, gooferment supplied schooling is a GIANT negative imho.)

… … but that aside, I heard a lot of praise for teachers. Probably, three times as much time spent praising the teachers as the parents and students combined. I attributed it to a campaign speech for the Teacher’s Union support. The whole speech wasn’t overly long. All that was missing was to say “Vote Democratic” in thanks for your child’s education. As if there would be no education without the gooferment.

Moving on to the Salutatorian’s speech. The young lady was obviously nervous. And, we had the lousy acoustics and the lousy sound system, it was hard to hear. What I did hear sounded good. (My criticism was for the school’s bureaucrats for not having enough practice. She engaged in some banter with her mom sitting in front of us which was … … unseemly. They should have coached her to speak up and not to rush.) Again, I have no text so I can’t really comment on what she said. (I wonder if the graduate could even hear her since they didn’t seem to react.)

Moving on to the Valedictorian’s speech. The young lady was not  obviously nervous, but was watching the audience for feedback. She spoke well, despite the lousy conditions. She made some good points about doing one’s best at all times. Again don’t have the text. But was able to hear most of her remarks. (Again not a lot of reaction from the graduates.)

Then, was the obligatory diploma hand out. (More on that later.)

Flip the tassels and march out.

Sigh!

After that it was a disorganized Chinese fire drill. From what I understand the handouts were blanks. The now graduate had to go to a room and find their real ones. (Strange. Disorganized. And chaotic. Why am I not shocked at a gooferment process being so.)

So, upon reflection, I’d have like to have made a speech to the graduates.

*** begin quote ***

I’d like to give you my thoughts on this special day. Success for your generation is: (1) ruthless financial discipline — no bad debt; (2) a life long interest in learning — education — a degree — they can’t take it away from you; (3) a NON-OFFSHORABLE white collar job in order to save big bux; (4) a blue collar skill for hard times — never saw a poor plumber; (5) one or more internet based businesses — your store is always open; (6) develop a second business or avocation – under the radar – start small part-time; (7) a large will-maintained network of people who can “help” you; (8) buy assets that hold their value over time; and (9) emulate the Amish and Mormons for their sense of community, simple thrifty living, and true to core values. Remember the sources of my education: I’m just a fat old white guy injineer with: Law “degree” from watching Judge Judy, Medical “degree” from watching Doctor Phil, Building “degree” from watching “Holmes on Homes”, and Investing “degree” from reading about Bernie Made-off. I wish you the best. May your opportunities be huge, your difficulties minuscule. And, may you remember kindly the old loon who thought you might listen and benefit from his experiences.

*** end quote ***

All I could think about when the principal mumbled something about going on to: a job, higher education, or service in the military. Was he left out “McDonalds and Wahwah if you’re lucky”.

Think that’s too harsh.

Remember that In the United States, 8 million jobs were lost — most of these jobs will never return. And, any “good jobs” are being exported if at all possible. And, boys are clearly falling behind girls in both educational achievement and aspiration. This pattern has vast implications for marital prospects, since women express a strong preference to marry a man of equal or greater educational and professional potential. The collapse of the marriage culture within the working class means poverty in future children’s lives.

It’s the first generation that will have to settle for a lower standard of living than their parents.

And, they are going to be saddled with a permanent recession / depression economy like Japan’s two “Lost Decades”. Add to that debt and unfunded liabilities that they will have to come to terms with. And, it’s not going to be good times. (Unless we old fogies slash the gooferment back to circa 1790 – 1830 Constitutional limits. Argh!)

Instead I wrote “my” graduate this email:

*** begin quote ***

May I suggest that you read this?

Too bad you couldn’t have heard this instead of what you did hear. You did hear it; didn’t you? I wish I had a transcript to blog about. Argh! Sorry, but imho you didn’t get the best of inspiration.

BUTT (there’s always a big but) maybe you can take a lesson from the message’s text. (I have!) I thought this was excellent. Wish I’d heard it at any of my graduations or any that I’ve attended; maybe some of it might have sunk in.

It’s short. In addition to being good.

*** end quote ***

http://www.businessinsider.com/we-are-what-we-choose-2010-6

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I will hazard a prediction. When you are 80 years old, and in a quiet moment of reflection narrating for only yourself the most personal version of your life story, the telling that will be most compact and meaningful will be the series of choices you have made. In the end, we are our choices. Build yourself a great story. Thank you and good luck!

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LIBERTY: What is this thing called “government”; the Gooferment

Wednesday, June 23, 2010

“No man or group of men—including any group of men calling themselves “the government”—is morally entitled to initiate (that is, to start) the use of physical force, the threat of force, or any substitute for force (such as fraud) against any other man or group of men.”

“The Market for Liberty” Linda & Morris Tannehill (1970)

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RANT: Obama wants 7$ a gallon gas?

Saturday, June 19, 2010

http://www.nypost.com/p/news/opinion/opedcolumnists/gallon_gas_9GlF3o1xIcIBelOV3k0RsK#ixzz0rHq4mUET

$7-a-gallon gas?
The folly of O’s oil-spill ‘fix’
By BEN LIEBERMAN
Last Updated: 2:49 PM, June 18, 2010
Posted: 12:02 AM, June 18, 2010

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So what does global-warming legislation have to do with the oil spill?

Good question, because such measures wouldn’t do a thing to clean up the oil or fix the problems that led to the leak.

The answer can be found in Obama Chief of Staff Rahm Emanuel’s now-famous words, “You never want a serious crisis to go to waste — and what I mean by that is it’s an opportunity to do things that you think you could not do before.”

*** and ***

The logic linking cap-and-trade to the spill in the Gulf should frighten anyone who owns a car or truck. Such measures force up the price at the pump — Harvard Kennedy School’s Belfer Center for Science and International Affairs thinks it “may require gas prices greater than $7 a gallon by 2020” to meet Obama’s stated goal of reducing emissions 14 percent from the transportation sector.

*** and ***

Emanuel was wrong. The administration shouldn’t view each crisis — including the oil spill — as an opportunity to be exploited, but as a problem to be addressed. And America can’t afford $7-a-gallon gas.

*** end quote ***

I think the should pass the cap ‘n’ tax bill.

ASAP!

And, when the economy tanks, and And, folks pay a Cnote for a fill up. And, they can’t afford to go to work.

There will be the revolution that these bozos want. And, like some French aristocrats found out the hard way, they may be the ones removed from the gene pool.

At least their crazy Socialist ideas will get a proper send off.

American will collapse under 7$ per gallon gas. The economy is build on cheap energy.

Will this be the event that collapses us, like the Roman Empire, and all the empires of human civilization?

Argh!

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RANT: Why is Biden in Kenya? Vacation!

Saturday, June 12, 2010

http://www.lifenews.com/int1571.html

Joe Biden Lends Support to Vote Process for Pro-Abortion Kenya Constitution
by Steven Ertelt LifeNews.com Editor
June 9, 2010

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Nairobi, Kenya (LifeNews.com) — Vice President Joe Biden campaigned in Kenya today and, although he did not officially endorse the pro-abortion constitution Kenya citizens are considering this summer, he backed the process allowing its consideration. Kenya is one of many African nations that currently protects women and unborn children.

Biden urged the Kenyan government and its people to support the reforms the government wants to implement.

The government is currently supporting the constitution, which expresses support for the legal rights of children before birth but includes a health exception loophole that would essentially allow unlimited legal abortions.

*** end quote ***

Aside from the pro-life question, why is Biden “campaigning” in Kenya?

Shouldn’t he be home, “campaigning” on USA issues? Oil spill, unemployment, and excessive waste in gooferment come to mind!

Argh!

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FUN: Speaking of animals

Tuesday, June 1, 2010

http://www.impactlab.com/2010/05/30/only-in-russia/

May 30th, 2010 at 8:01 am
Only in Russia

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This is not your normal run-of-the-mill get your pig drunk, load him into a cannon, and fire him into space kind of story. But then again, maybe it is. This amazing store has been captured for all to see.

*** end quote ***

Yah have to find this story funny!

Imagine being the pig.

And, it doesn’t tell the pig’s eventual fate. Dinner? Just doesn’t seem right to eat an astronaut.

Wonder how much that cost the Russian Gooferment?

LOL!

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POLITICAL: Filling out my list of the “worst” Presidents

Wednesday, May 19, 2010

A fellow alum posited that:

*** begin quote ***

“If you were to be trapped in a cave for 30 days and had the choice of ANY dead president to chill with…who would it be and why.”

Probably George Washington or Lyndon B. Johnson.

Washington so I could fill him in the shit state of the US today.

Johnson because he was an incredibly important figure during the Vietnam War and the Civil Rights movement. I guess I’m not over my thesis. Still emotionally attached. Sigh. I would just like to talk to him about his true feelings about the war as well as the civil rights and black power movements.

*** end quote ***

Washington was unarguably the “best” President.

But I’d assert that LBJ is pretty well down there for worst. “Civil Rights” was forced on him by the “evil” republicans to get more funding for Vietnam. (I remember reading about it in the papers.)

My “worst” list:

(1) Lincoln (Civil War over secession ending the “America Experiment” on liberty, corrupt railroad lawyer figuratively in bed with Northeastern power brokers and literally in bed with some “interesting” people whole presenting a different image to the folks, First Amendment violations, Income Tax, )

(2) Wilson (duped us into WW2 after running on a “peace platform”, racist, Progressive, Federal Reserve, Income Tax)

(3) Truman (ABombed defenseless civilians)

(4) FDR (Progressive, the “social security” scam, End the Gold Standard, may have lied us into war, Harrison Narcotics Tax Act of 1914.)

(5) LBJ (Gulf of Tonkin to expand the VietNam war, expanded the draft, put the Welfare / Warfare state on steroids)

(6) BHO (Healthcare, Porkulous, GM, Wall Street Bailout, started us on the road to socialism)

Also rans (Not even close to the “big” time):

(*) Nixon (Expanded Drug War on the inner cities, ended the international Gold Standard)

(*) Bush41 (“No new taxes”)

(*) Kennedy (Expanded the VietNam war, Bay of Pigs, permitted a trip to Dallas)

(*) Regan (Deficits, ran with Bush41)

(*) Jefferson (Demonstrated that absolute power corrupts even the best men)

(*) Bush43 (Started the Iraq war)

(*) Clinton (Whitewater, “Slick-ness”, Monica IN the Oval Office, lot of “little wars”)

Comment?

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Like anyone cares about my opinions!

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2011-Dec-14

Adding Teddy to #7 ahead of the “also-rans”!

(7) Teddy (Crazy, “world’s policeman”, “master race”, “trust buster” of the unfavored business, “food safety crisis”, “conservation”, and worst reviving the income tax.

http://www.lewrockwell.com/dilorenzo/dilorenzo106.html

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GOVEROTRAGEOUS: Stopping the Social Security Ponzi scheme! “Cold turkey”?

Wednesday, May 5, 2010

http://cafehayek.com/2010/05/stopping-the-social-security-ponzi-scheme.html

Stopping the social security ponzi scheme
by Russ Roberts on May 4, 2010
in Social Security

*** begin quote ***

The way to keep social security from bankrupting the country is to make it a welfare program for the elderly. But what about all the money I “contributed”? Alas, that was a lie. The money wasn’t set aside for the future. It’s like asking why don’t I collect food stamps even though I’m rich. Hey, I contributed so I should get food stamps. That’s a bizarre belief to have. That’s not the way food stamps work. That is the way social security is supposed to work, but it’s a bad idea, it was an illusion that your contributions were really yours and there isn’t enough money to keep the illusion going.

*** end quote ***

The problem is that the gooferment took the “seed corn” from everyone. They skimmed the “cream” off the top. We could have saved MORE for our own retirement, but they STOLE it early (when the savings would have had more impact) and OFTEN (by inflation eats up savings and raises costs). So everyone to now say “too bad, you’re screwed” is the perpetuation of a fraud and a theft. We didn’t get into this mess in a few years and won’t get out of it in a few years. It was decades. So, like Chile, we need time. <sub 40, recognition bond for contributions payable in 40 years; over 40 below 60, you get some choices; over 60, you get the old plan> And you work your way out.

I pitched a similar idea in the NY Tax Revolt in the 80’s. A twenty year plan to get out of gooferment education at 5% a year. Followed immediately by a twenty year plan, to get out of gooferment funded “education” completely. Forty years, like the time the Jews wandered the desert, gives you time to reeducate people and allow them to adapt to the new realities. Too bad they didn’t adopt it, we’d have been half way out by now. NJ’s education expense is crippling the State.

Paradigms and memes don’t change over night. And, folks have to be able to see the path, where it leads to, and how it can be accomplished with 960 (40 times 12) easy monthly payments of some modest amount gets them to Freedom.

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Upon reflection, this would cause violence in the streets. Only the wealthy could survive this body blow. And, with the gooferment planning to “monetize the debt” (i.e., inflate the currency so it can pay off the debt), those on fixed incomes and retired will be slowly strangled. Think the German pre-WW2 hyperinflation that made Hitler possible.

No, we need an orderly multi-generational way to get form here to there. Peacefully. The Chile solution worked well; why not here?

One problem is they were all illiterate and could ignore the liberal media telling us the gooferment’s propaganda line. We’re too “smart” for our own good. And, the youth propaganda reeducation camps are ensuring continued stupidity!

Argh!

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GOVERNACIDE: Kent State murders

Tuesday, May 4, 2010

http://aaeblog.com/2010/05/04/the-state-in-action/

*** begin quote ***

Forty years ago today, Ohio National Guardsmen murdered four unarmed students at Kent State and wounded nine others, permanently paralysing one.

*** end quote ***

So soon we forget.

From whence does the State, any state, get the right to execute its citizens?

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