patrick.net

Holy crap, 403-12? Democracy does not seem to be representing the interests of savers.

http://abcnews.go.com/Business/house-extends-unemployment-benefits/story?id=9007141

OK, so any predictions? Does this really mean anything signficant?

Whee!!! bubbles bubbles everywhere - we can just keep inflating them

Savers are the enemy Patrick - we contribute nothing to the consumer-based economy

It's absolutely hopeless. Corruption, greed and fraud at all levels. No other choice. I can't "beat" them or even play fairly any more since there are No Rules, Laws, enforcement, penalties etc.

Its' time to go on full rape mode. I apologize in advance to the next 3 generations that are going to be born into debt slavery by definition. Keep those kids drugged and dumbed down - It's the only way they will accept their ongoing tax burdens, debt slavery and lower standard of living.

Get those H1N1 untesteded, untried live-virus shots dispensed through the phony 'emergency' program. If it doesn't kill you, you are acceptable breeding and tax payer stock.

Seig Heil, Seig Heil, Seig Heil!
"Arbeit Macht Frei" (Work Brings Freedom) was the sign over the gates of Auschwitz.

It means that your 12 point manifesto is still in effect, yeah baby!!!!!!

Looks like a lot more defaults in the near future.
Another 14,000 job losses in California this past week and the numbers are just going up.
Los Angeles city is cutting hours for some workers so those reductions in pay don't even show up in jobs lost numbers, but it still means less money for mortgages.
Most jobs "saved" by the stimulus package will go away when the local governments cannot afford to keep paying the bill in a year or so when the federal money dries up.
Sales tax revenue is way down so more county and city job cuts are coming.
This deal ends in June so next summer should be interesting because I don't think they can pass another extension right before the election season with the big deficits looming.
By June the option arms should be getting ugly and the latest unemployment extension will also be ending.

Sounds like in June we will be hearing some good news!

Eventually it will all just implode for everyone, savers and debtors. That day of reckoning is not far off. This cannot go on without real pain. I'm still glad I'm a saver and I own my house and everything in it (although that won't save me, I know).

But do you own a plasma TV, now that would add real value to your house when you decide to sell...ROTFLMAO

Holy crap, 403-12? Democracy does not seem to be representing the interests of savers.
http://abcnews.go.com/Business/house-extends-unemployment-benefits/story?id=9007141
OK, so any predictions? Does this really mean anything signficant?

It only means the inevitable has been pushed out a bit further.

Why all the doom and gloom.....the "NUMBERS" are just great aren't they????

I predict a lot of people who put in offers on houses early this week will hear from their realtor that the sellers want 6500-8000 more now

So, we the working class tax payers are shelling out dough so that house prices remain out of reach for most of us? Did I read this correctly? Please, someone tell me I'm dreaming.

No its worse...we are printing money so that house prices remain out of reach...

That's exactly right.

You are being taxed, and the money is being used to make houses more expensive.

It's a double theft.

I don't think any printing is going on in this situation. The Federal Reserve does print money and buy up crappy loans from banks, so the banks can make more crappy loans, keeping prices too high. That does happen a lot lately.

But in this case, Congress is simply taking your tax money, handing it to a stupid/naive/first-time buyer, so that they can bid $8000 more for a house, which then goes into the pockets of the seller and the realtors.

Note that the sellers are generally older, and they vote. They are happy to screw the young. And the NAR, well, they've been screwing us all for so long we think it's normal.

The best part is Fanie Mae has the power now to offer sign over the deed instead of foreclosing.
That way the property never forcloses it can be kept in private investor secret inventory stock.
Thus keeping the value of the properties from falling by market forces.

Basically they made a federal act out of what most of have been bitching about the last 8 months questioning if it is even legal. Well guess what Congress just gave us the big Yucca and designated the tax payer as the payer of the real estate dry storage.

YAYYYYY CHANGE! WOO HOOO!

No, you are not dreaming. Your "representatives" will do anything to keep their Wall Street friends from paying for THEIR mistakes, thereby keeping the pyramid scheme going. Sucker them into believing they can be rich by drowning in debt! What a concept. Congress doesn't give a damn about us. It is a club for the rich. They don't care that you can't have a house as long as someone else will be stupid enough to pay too much. I will bet that the credit will be extended and enriched to infinity until the government is giving away houses. By then, we'll be permanently enslaved by Obama-Pelosi-Reid's version of socialism aka CHANGE.

Dear Clarence, I gave up TV long ago when corporate America started charging for it. I don't keep up with the Joneses because I don't like where they're going.

chrisborden says

I don’t keep up with the Joneses

You may find that "staying back with the Borden's" is the new black.

I keep seeing news stories about how Americans have a new "Paradigm of Thrift." Let's just hope that the accumulated debt does not make that a "paradigm shift" without a clutch.

Ha! You made me laugh, but I'm not convinced. And I certainly DON'T feel as if I'm staying back; if anything, I am way ahead. My life is exceedingly fulfilling, I have no stress, am in perfect health, I own outright everything in my possession...I could go on, but no sense rubbing it in. I'm smug and proud of it.

"I don’t keep up with the Joneses because I don’t like where they’re going."

Thank you for that, chrisborden. You helped Make My Day. -javco

Actually, chrisborden, I don't agree with your last sentence. I'm a fiscal conservative and I believe that we need real change. I'm not giving up on Obama yet. I'm a Democrat that actually thinks for himself. That makes me dangerous. I can actually listen to all sides of an argument and decide things for myself. I don't make ad hominem attacks about one side or the other side in anger without considering my words carefully. Be very careful of how you throw around words like "socialism." I suggest that many people who throw that word around these days have no clue what that word or political system actually means. In fact, often the same people who throw around words like "socialist" and "communist" at Obama will use their second breath to fling the word "fascist" at him. Obviously these people have no clue what socialism, communism, or fascism really means because one cannot be all three at the same time by definition. So let's keep the name calling to a minimum, m'kay?

simchaland says

Actually, chrisborden, I don’t agree with your last sentence. I’m a fiscal conservative and I believe that we need real change. I’m not giving up on Obama yet. I’m a Democrat that actually thinks for himself. That makes me dangerous. I can actually listen to all sides of an argument and decide things for myself. I don’t make ad hominem attacks about one side or the other side in anger without considering my words carefully. Be very careful of how you throw around words like “socialism.” I suggest that many people who throw that word around these days have no clue what that word or political system actually means. In fact, often the same people who throw around words like “socialist” and “communist” at Obama will use their second breath to fling the word “fascist” at him. Obviously these people have now clue what socialism, communism, or fascism really means because one cannot be all three at the same time by definition. So let’s keep the name calling to a minimum, m’kay?

Let me help you little brother, as both sides are socialists if once we begin to realize neither side voted against the housing tax credits, or bailouts. I found this rhetoric below on one of the other pages and it could better explain why brother Obama is being labeled as being offtrack when it comes to repairing the right programs. He should focus on repairing these programs and pulling the troops prior to moving forward with more spending. (See below)

Peace GOD

The U.S. Postal Service was established in 1775 - you have had 234 years to get it right; it is broke.

Social Security was established in 1935 - you have had 74 years to get it right; it is broke.

Fannie Mae was established in 1938 - you have had 71 years to get it right; it is broke.

The "War on Poverty" started in 1964 - you have had 45 years to get it right; $1 trillion of our money is confiscated each year and transferred to "the poor"; it hasn't worked and our entire country is broke.

Medicare and Medicaid were established in 1965 - you've had 44 years to get it right; they are broke.

Freddie Mac was established in 1970 - you have had 39 years to get it right; it is broke.

The 12 nays

http://clerk.house.gov/evs/2009/roll859.xml#N

Let me set something straight because apparently I'm badly misunderstood, as I too am a fiscal conservative. I am not engaging in name calling; I simply said that I believe Obama's policies are socialist. I do not believe bailouts and coddling of Wall Street and irresponsible lenders and borrowers is sound policy, nor do I believe in the entitlement mentality of tax breaks, unbridled welfare, playing cop to the Third World, the list goes on. I believe that what our president is doing is nothing short of socialism, throwing good money after bad. I do not believe real change is even possible in this country because most of our electorate (most of whom don't even vote) is just plain stupid and doesn't deserve the kind of government our founders formed. It has been thoroughly corrupted by money.

chrisborden says

Ha! You made me laugh, but I’m not convinced. And I certainly DON’T feel as if I’m staying back; if anything, I am way ahead. My life is exceedingly fulfilling, I have no stress, am in perfect health, I own outright everything in my possession…I could go on, but no sense rubbing it in. I’m smug and proud of it.

Right, I have a better time golfing than watching TV. I was attempting to be witty by insenuating that Congress wants you to buy something for your house with that 8K tax credit. You would be doing American a favor because you will boost GDP with your purchase.

chrisborden says

Let me set something straight because apparently I’m badly misunderstood, as I too am a fiscal conservative. I am not engaging in name calling; I simply said that I believe Obama’s policies are socialist. I do not believe bailouts and coddling of Wall Street and irresponsible lenders and borrowers is sound policy, nor do I believe in the entitlement mentality of tax breaks, unbridled welfare, playing cop to the Third World, the list goes on. I believe that what our president is doing is nothing short of socialism, throwing good money after bad. I do not believe real change is even possible in this country because most of our electorate (most of whom don’t even vote) is just plain stupid and doesn’t deserve the kind of government our founders formed. It has been thoroughly corrupted by money.

Right, not all socialism is bad for the nation...it just needs to be fiscally solvent before we invest any further.

As a former Broker and Appraiser let me say that they are not all bad! just 99.9%!

Look the credit is much akin to efforts to salvage the stock market over the years.... The problem is that when money is not worth anything people with means have to have a place to stick wealth. Arbitrage, i.e. exchanging for a higher interest rate means nothing right now. Some people in the know are even saying that stock and commodity wealth is a carry trade... a way to borrow short term, induce a measure of wealth and get out.

The government will not let real estate become dire because it will effect real wealth and power and not simply the parvenues... the real estate brokers, the investors, etc.

Hey people on a side note? blame the investors also. Stupid investments in areas with unlimited potential to grow, greed, bidding up and turning residential housing into investment properties... stupid people who went to many investment seminars. When you invest you buy wholesale... then when value and price is effected you have an out.

Clarence, your humor didn't pass unnoticed. I just paid cash and told Uncle to take a hike with his welfare tax credit, which I believe is damaging to me in the long run because I'm paying for it. ):

Let me cry a river....
At chrisborden, at least we agree that corporations and individuals who are wealthy should pay their share of taxes, so I take back what I said to you on the other thread.

And socialism isn't the boogieman that many politicians and corporate whores want you to believe. Most of the people who are against any form of socialism just want to take everything for themselves and to leave nothing for anyone else. It's called unbridled greed. A little greed is good. A little socialism is good because it keeps the super rich more honest, at least if directed in the correct way.

Corporate whores are all for socialism if it means corporate welfare. They curse "We the People" and take whatever they want because our government is an aristocratic oligarchy. It's now a government for the rich and by the rich. "We the People" are simply pawns for the robbing.

This is what happens when people who allege they are all for family values do nothing but avoid paying taxes and kill social programs for kids like the public school system by draining it of money because, well, kids can't vote. And besides, it's easier to control people who are poor, who can't afford to go to private schools to get a real education, and must rely on the public school system you just gutted to fatten your own wallet all under the guise of claiming you are for "family values." The dumbing down of "We the People" was a deliberate and cynical systemic approach by the rich to stop paying taxes and gut the public schools so that the poor remain uneducated and unable to compete with the "educated" upper classes. Here in California we have the worst public schools in the nation. You can thank Prop 13 for that.

Simcha, I cannot disagree with anything you say. If only I could be so articulate...BTW, I would love it if corporations and the wealthy (anyone who earns over $150K a year) would be taxed at least 40% with zero deductions. And I especially agree with your last statement about the dumbing down of students. Bottom line, what we have here is a cruel, cynical effort to control people through greed and fear, pure and simple, and it is working.

Holy crap, 403-12? Democracy does not seem to be representing the interests of savers.
http://abcnews.go.com/Business/house-extends-unemployment-benefits/story?id=9007141
OK, so any predictions? Does this really mean anything signficant?

It means I pay $8000 less in taxes this year (or maybe next year) ;-)

To Clarence 13x:

"The U.S. Postal Service was established in 1775 - you have had 234 years to get it right; it is broke."

- Maybe i'm biased because my father and brother are postal employees... But I wouldn't say the Post Office failed.... It's just becoming less necessary with the advancement of the internet and email...

No one writes letters to communicate anymore... Before the internet that accounted for a huge margin of profits.

Rather than saying the U.S. Postal Service failed.. (i challenge you to find a company that will hand deliver a letter from CA to PA for 44 cents)... I would say it's becoming obsolete.

Much of their fixed costs are free. The buildings you see are paid by the Government and the land is federal property. The gas to fuel is not full retail prices either.

Airline and rail division
The United States Postal Service does not directly own or operate any aircraft or trains. The mail and packages are flown on airlines with which the Postal Service has a contractual agreement. The contracts change periodically. Depending on the contract, aircraft may be painted with the USPS paint scheme. Contract airlines have included: Emery Worldwide, Ryan International Airlines, FedEx Express, Rhoades Aviation, American Airlines and Express One International. The Postal Service also contracts with Amtrak to carry some mail between certain cities such as Chicago and Minneapolis-St. Paul.

fredMG says

I predict a lot of people who put in offers on houses early this week will hear from their realtor that the sellers want 6500-8000 more now

Exactly...the industry lobbied for this to increase sales, and to be able to inflate prices. If we would do away w/all the tax credits, builders and sellers would have to lower prices to reality, which would really benefit buyers. The buyers who think they're making a great deal because of the tax break are in fact paying for it in a roundabout way, because all taxpayers will be paying for it. Ditto for the other tax breaks builders will get directly, that they've been lobbying for for years, too.

I botched the quote thing. Someone wrote: "Let me help you little brother, as both sides are socialists if once we begin to realize neither side voted against the housing tax credits, or bailouts."

Correct. Both parties sold out long ago to the lucrative money stream from wealthy corporate special interests. Corporate America IS our government.

chrisborden says

Clarence, your humor didn’t pass unnoticed. I just paid cash and told Uncle to take a hike with his welfare tax credit, which I believe is damaging to me in the long run because I’m paying for it. ):

You need to take the credit, it is your money.

rmm221 says

To Clarence 13x:
“The U.S. Postal Service was established in 1775 - you have had 234 years to get it right; it is broke.”
- Maybe i’m biased because my father and brother are postal employees… But I wouldn’t say the Post Office failed…. It’s just becoming less necessary with the advancement of the internet and email…
No one writes letters to communicate anymore… Before the internet that accounted for a huge margin of profits.
Rather than saying the U.S. Postal Service failed.. (i challenge you to find a company that will hand deliver a letter from CA to PA for 44 cents)… I would say it’s becoming obsolete.

Right, just like American vehicles are becoming obsolete due to the lack of buyer interest. The services are needed, but at reduced rates. Non-profits do not care how much money is thrown at them, they will just spend as much as possible until we reduce their services. Now, the car industry knows that they will fail without reducing expenses because their solvency depends on the amount of cash revenues they generate.

less routes, less frequency will repair the system.

Clarence13X:

I would like to add The War on Cancer (Nixon) to your above-posted list.

~Misstrial

Misstrial says

Clarence13X:
I would like to add The War on Cancer (Nixon) to your above-posted list.
~Misstrial

Wasnt aware the we were wasting funds on the war on cancer, I knew we were wasting money fighting a endless war on drugs....do you have any details you can share?