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That 25% is 1. realtors 2. builders who employ illegals 3. underwater people.
I'm part of the two in five.
Home prices are too low.
Loan standards are too tight.
They better get their act together or we all sink.
As the article says overall, nothing to see here, move along. With as many systems as are being pulled together, it's entirely possible that a record doesn't match exactly somewhere along the chain (e.g. middle name in one, not in the other, name misspelled somewhere, address on your W2 doesn't match exactly, etc.). Something similar happens sometimes when you try to port your cell phone number from one carrier to another, but this is on a larger scale, obviously.
That's how bureaucrats work:
One person screws up.
Two people discover it.
5 people fix it, only to screw up again.
In my opinion they are all crooks and they'll never say it's "offshoring" and "race to the bottom" or the fact that all the money just concentrates at the top in the current system. They are too busy making money by screwing the middle class out of it.
They even built a nice NSA spying system for the 1% to keep tabs on all of us. In case we peasants start to revolt, so they could know it in advance, and Guantanamo those who are not happy with the regime. What a bunch of Stalinists.
This is great news for gold prices! BUY MOAR GOLD NOW!!
The libertarian readership of Kitco, fresh from failing to comprehend the Federal Reserve, interest rates, and bonds, should broaden their minds by discomprehending chemistry and physics.
1) no, the Fed will continue QE. Any attempt to halt it will prompt dire predictions of economic catastrophe by the bankers who are profiting from the give away. Where can I get the deal to rent money for free that I can charge other people interest to loan from me?
2) yes, housing has become too big to fail.
3)and they still won't be able to afford to buy homes. Homes in desirable areas will continue to be bought by wealthy speculators seeking rentier income.
4) Gold will rise, slowly at first, then escalate suddenly when the overinflated dollar drops due to being less and less of a world currency.
5) Bonds will possibly go negative.
6) yes
7) no, deficits may decrease a little at first, but they'll increase again once the second longer recession hits. Once the national debt reaches 50 trillion, creditors will put the US into receivership, the value of the dollar will drop off a cliff, and land and resources will be the things to own, not dollars.
The libertarian readership of Kitco, fresh from failing to comprehend the Federal Reserve, interest rates, and bonds, should broaden their minds by discomprehending chemistry and physics.
If Jesus allows microwaves to convert base metals into gold, thus it shall be.
[also, bonds has a double-meaning there!]
The libertarian readership of Kitco, fresh from failing to comprehend the Federal Reserve, interest rates, and bonds, should broaden their minds by discomprehending chemistry and physics.
Ah they "print" gold now... and from beer bottles with Kitchen microwaves.
Bugs will have to throw away their gold in despair.
Lol
Unbelievable!
Alchemy DOES exist... in nuclear reactors. Small scale in terrestrial reactors and grand scale in stars. And supernovas.
If this were to work (and no,it won't) it would certainly give new meaning to "nuking" a tv dinner.
1) no, the Fed will continue QE. Any attempt to halt it will prompt dire predictions of economic catastrophe by the bankers who are profiting from the give away.
Last year in september I thought the Bernank couldn't tapper because of slowing loans growth.
This year they will tapper, because debt growth is taking the relay.
Unless Obama severely cracks down some loans (students/car loans for example), we are going back to the same forces that fueled the previous bubbles.
See also the new jump in trade deficit. Credit fueled consumption is about to jump.
Skank Of America..... a name well deserved.
Above the law. Zero arrests, zero convictions of criminal bankers.
Even Bush had 3,000 prosecutions of banking criminals, and 1,000 went to jail. Zero from Obama.
Thanks , Barry. You're now the worst and most corrupt US President in modern history.
George Bush thanks you.
And a "tip of the hat" to our supine corporate doormat of an Attorney General.
No better place for criminal corporations to wipe your feet than on his back....
Just remember that "campaign contribution" that was discussed. Yes We Can.
I was a Democrat for 42 straight years. No more "parties of the rich" for me.
If I have to be a Poliburo Communist (paired with complete socialism for the rich) to be a Democrat, I decline that opportunity.
Can't wait for Hillary ... just hoping she'll don that $500,000 gold necklace the King Of Saudi Arabia gave her for the inauguration ...
Yes She Can
"They better get their act together or we all sink."
No ... maybe you should get 20% down, get your act together.
I was a Democrat for 42 straight years. No more "parties of the rich" for me.
If I have to be a Poliburo Communist (paired with complete socialism for the rich) to be a Democrat, I decline that opportunity.
Can't wait for Hillary ... just hoping she'll don that $500,000 gold necklace the King Of Saudi Arabia gave her for the inauguration ...
Yes She Can
I voted for William K. Black for president the last time and will again the next time.
"They better get their act together or we all sink."
No ... maybe you should get 20% down, get your act together.
Qualified first time buyers should not be denied a loan due to a lack of down payment. It will sink our economy into a black hole.
Even Bush had 3,000 prosecutions of banking criminals, and 1,000 went to jail. Zero from Obama.
I already called you out for this inaccuracy, but you're apparently going to keep repeating it because you can't think for yourself and are extremely gullible:
http://patrick.net/?p=1239868&c=1064769#comment-1064769
I was a Democrat for 42 straight years.
Don't believe you. You're just saying that in a poor attempt to gain credibility.
The banks also had issues with cash being used for a down payment if there wasn't a documented trail where the cash came from.
A lot of banks only look back 2-3 months.
I don't disagree that banks are nitpicking applications on occasion, but the new requirements require that to some extent. I've seen them question $200 one-time payments before to make sure they weren't recurring, but not have a problem with this particular issue.
They put a massive slab on top of the crypt, with a bas-relief of Nancy blowing Frank Sinatra on the central panel and depictions of great moments of Reagan's life along the frieze: Reagan liberating Auschwitz, Reagan personally defeating the USSR, Reagan taking the beachheads at Iwo Jima and Peleliu, and of course, Reagan riding a velociraptor while firing a submachine gun at America's enemies.
APOCALYPSEFUCKisShostikovitch says
Beware Zombie Reagan. Shoot it in the head!
I heard the Tea Party was planning on digging up Ronnie's corpse and enacting Weekend at Bernie's III: Bernie Goes to Washington. It's not like Reagan is any less conscience than he was during his presidency.
How did Zombie Reagan greet Obama? Zombie Reagan mentioned much he loved Obama in The Butler.
One thing I'll say about Hitler: that bullet left him perma-dead. No resurrections, do-overs, or undead phase.
Jimmy Carter - bad President
Ronald Reagan - good President
George Bush sr - OK President
Bill Clinton - good President
George Bush jr - bad President
Barack Obama - ??????
Jimmy Carter - bad President
Ronald Reagan - good President
George Bush sr - OK President
Bill Clinton - good President
George Bush jr - bad President
Barack Obama - Improving golfer
I think they should dig him up, give him falsies and a reality show.
You can always tell when there is Realtor saliva in your underwear. It feels like a combination of itching powder and a bad case of crab lice. You need rabies injections and a month of antibiotics.
I say 10,000 feet. That way they have time to consider their sins before going splat!
Jimmy Carter - bad President
Ronald Reagan - good President
George Bush sr - OK President
Bill Clinton - good President
George Bush jr - bad President
Barack Obama - ??????
If you or a loved one were HIV positive during Reagan's reign, you would likely say bad president, or worse, a murderer of horribly sick people.
Jimmy Carter - bad President
Ronald Reagan - good President
George Bush sr - OK President
Bill Clinton - good President
George Bush jr - bad President
Barack Obama - ??????
If you or a loved one were HIV positive during Reagan's reign, you would likely say bad president, or worse, a murderer of horribly sick people.
Well the President of Gambia claims he has a cure for AIDS!!
http://www.nydailynews.com/life-style/health/anger-herbal-aids-cure-gambia-article-1.1231539
We haven't been putting the b-52's to much use lately.....
Of course substituting them for clay pigeons at the trap range wouldn't be a bad idea either......
Jimmy Carter - bad President
Ronald Reagan - good President
George Bush sr - OK President
Bill Clinton - good President
George Bush jr - bad President
Barack Obama - ??????
If you or a loved one were HIV positive during Reagan's reign, you would likely say bad president, or worse, a murderer of horribly sick people.
Probably so, but I was looking at it purely from the economic point.
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