Gambling establishments know it, amusement parks know it, retailers know it --- anything that separates your perception of spending your own money from the reality results in your spending more. And in the case of the American consumer, we are spending consistently more than we earn and more than we could ever pay back.    We are all participating in…[...]

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Tags: cash, credit cards, debit cards, home equity, Mortgage, personal finance
Posted in Eviction |

IN THIS STORY FROM THE WALL STREET JOURNAL, IT IS CLEAR THAT FLOUNDERING FEDERAL POLICY-MAKERS ARE AVOIDING THE ESSENTIAL ISSUE --- WE HAVE TRILLIONS OF "DOLLARS" OF DERIVATIVES OUT THERE THAT ARE HUGELY OVERVALUED BECAUSE OF FRAUDULENT APPRAISALS SUPPORTING THE APPEARANCE OF A RISING HOUSING MARKET. And now many other securities and loan arrangements are endangered that have at least…[...]

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Tags: Barney Frank, derivatives, Federal reserve, recession, Treasury
Posted in bubble, Corruption, Eviction |

Trouble for American Consumer is building and the perfect storm threatens our tenuous economy.  DEEP RECESSION LOOMS WITHOUT FUNDAMENTAL CHANGE IN OUR POLITICS AND ECONOMIC POLICIES   The inevitable outcome was always the same: eventually we would hit the the top, like in any Ponzi scheme.  Consumers, who maxed out their credit cards, and maxed out their borrowing on their…[...]

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Tags: Asian inflation, credit cards, credit crisis, dollar, euro, innovation, recession, Rothbard, Von Mises
Posted in bubble, Corruption, Eviction, securities fraud |

I have two answers for you on the question of fairness. 1. How fair is it, after you have saved and conducted yourself properly and with financial savvy, to see the value of your investment steeply decline as a result of some game Wall Street was playing with the banks? How fair is it that the houses in your enighborhood…[...]

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Tags: appraisals, disclosure, kickbacks, rebates, risk
Posted in bubble, Corruption, Eviction |

  April 6, 2008 FAIR GAME A Road Not Taken by Lenders By GRETCHEN MORGENSON WE’VE all heard a great deal in recent months about the greedy borrowers who caused the subprime mortgage calamity. Hordes of them duped unsuspecting lenders, don’t you know, by falsifying their incomes on loan documents. Now those loans are in default and the rapacious borrowers have…[...]

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Tags: internal revenue service, liar loans, verification of income
Posted in bubble, Corruption, Eviction, securities fraud |

Memo to all Senators, Congressmen and state legislators: The solution proposed by Barney Frank for the Mortgage Meltdown is dead-on right. Suck it up.   The disaster that awaits will fall on your record unless EVERYONE gets something they can go home with. Any lender that opposes this is arguing for their own disaster. This program will save their balance…[...]

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Tags: Barney Frank, Pelosi, proposal, solution
Posted in bubble, Eviction, securities fraud |

  Mortgage Meltdown Consequences --- New Money, Old Money and New Dynamics ---  Cashless ATM, “second chance bank accounts” and other services auger well for Small Banks and Credit Unions.   The simple fact is that there isn’t any small bank who can’t provide the same services to any type of customers that a large one can. And if States…[...]

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Tags: ATM, Bureau of Engraving and Printing, Cashless ATM, community banks, financial institutions, Pointof Banking, Scrip, Second chance checking, unbanked
Posted in bubble |

Collateral damage and contributing damage From CNN and NY Times: Loss of jobs means loss of income, loss of tax revenue, increased defaults on home loans, credit cards etc. The downward spiral of economics and the upward spiral of inflation are here. They will continue to feed off of each other. It is political cowardice to avoid the obvious --- stop…[...]

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Tags: bankruptcy, briefing, candidates, job losses, jobs, recession, unemployment
Posted in bubble, Corruption, Eviction, securities fraud |

Healthcare Madness: Stem Cell FurorYou must remember the simple American health care formula: if insurance covers it, it gets done. Insurance only covers it if the overall revenue and profit picture for big Pharma and insurance is maintained or enhanced.The big LIE in the United States that we have all subscribed to until recently is that single payer systems would…[...]

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Tags: Cell treatment, drugs, free market, Medicare, Part D, regulation, socialism, socialized education, socialized medicine, Stem Cells
Posted in bubble, Corruption |

U.S. economy in 'very difficult period,' Bernanke saysBy Greg RobbLast update: 9:30 a.m. EDT April 2, 2008WASHINGTON (MarketWatch) - The outlook for U.S. growth has worsened since January and the possibility of a recession can't be ruled out, Federal Reserve Chairman Ben Bernanke said Wednesday. "It not appears likely that real gross domestic product will not grow much, if at…[...]

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Tags: Bernanke recession, consensus, counterfeit, credit cards, depression, money, Obama
Posted in bubble, Corruption, Eviction, securities fraud |