1. Al Gore - there are so many instances of corruption and outrageous mendacity in this guys career I don't know where to start. So let's go to his most recent. The man made global warming scam that he helped create and now has made hundreds of millions of dollars from is probably the largest fraud in the history of mankind. Twenty years from now Warmers will be mocked for their complete idiocy. Taxpayer and US citizens are in danger every day this schmuck is not in prison.
2. Fast Franklin Raines- not only did this guy cook the US books under Waskally Willie but also managed to loot Fannie of billions thru book cooking and incompetence. He was at the center of the greatest scandal in US politics,the systematic looting of the taxpayer of billions via Frankie and and his Democrat buds.
3. Barney Frank - Its easy to say this guy is just an incompetent boob,I mean how don't you know your boyfriend is running a whorehouse out of your home? This guy with the help of the insane Maxine Waters helped save Fannie Mae from the regulations that would have stopped the Democrat looting of said corporation which was the catalyst for the financial meltdown of 2008. No one person is more responsible for the financial meltdown,so what did we do ,we let him and fellow grifter Chris Dodd write the new financial regulations. Only in Washington DC.
4. The Clintons- Do we really need to go there?
5.Chucky Shumer - This guy just reeks of corruption and sleaze. All you have to do is look at this guy and know something isn't right.
6.Anthony Wiener- Pervert and lunatic socialist.
7.Rahm Emanuel - Weasel. After a short stint on BOD of Freddie Mac,he was offered a multi million dollar a year job on Wall Street. Corrupt to the core.
8.Daley- Even though this guy was genetically predisposed to a life of corruption,he was on the BOD of Fannie Mae. He was there when Dems were stealing everything that wasn't tied down.
9.Eric Holder- As with so many Democrats,you don't if he a complete idiot,lunatic socialist,or just a liar. This guy is probably all three. He approved the pardon of criminal Marc Rich.
10. Ed Randal- Just look and listen. Ok,this is easy,what politician from Pa. isn't a crook but this guy like Shumer just reeks of it. Its that Jim Wright thing,you just know they are lying through their teeth every time they speak.
PS. Under no circumstances bend over in the presence of any of these guys
Tuesday, November 8, 2011
Tuesday, November 1, 2011
The Problem with Housing
US housing has in great part been built and supported by government subsidies. The first great subsidy was the mortgage deduction. The next was the low interest rate and easy money policy of Greenspan. Tack on to that the Clinton first time tax break on a home sale where the first $500K is tax free and you have some pretty good reasons to put money in real estate rather than stocks or anywhere else for that matter. . Add to that the federal governments pressure on banks that started under Clinton to write mortgages to people who could never ever pay them back and you have the makings of serious bubble. As with any industry or business supported by government subsidies the only way it can continue to grow is with more subsidies. Its a fact.
The only way to cure the excesses in housing and begin a real recovery is through a cathartic process. Instead our government is attempting to further encourage people to stay in mortgages they cant afford even at lower interest rates. The same government whose affordable housing policy pushed people into these mortgage now wishes to imprison them in a life of debt and misery. I guess this is compassionate liberalism. These same policies keep new buyers out of market. Decades of government subsidies have come home to roost.
Now with with many local and state governments in jams because of fiscal irresponsibility, taxes on real estate are increasing and that will not stop. Utility costs of home ownership increase each year. So instead of new subsidies to further support home prices,home owners are faced with increased overhead.
The government has also tried to inflate our way out of the housing mess. To date this has failed but has succeeded in destroying many in the middle class who are savers or live on fixed income. Those who have lived responsibly and made good decisions are being punished by the very government that created the problem.
There is also no way of telling how much capital has been miss allocated because of the favorable tax treatment of mortgages and the Clinton tax break. The market will find a way to reallocate this misplaced capital,the end result can only mean lower home prices.
The only way to cure the excesses in housing and begin a real recovery is through a cathartic process. Instead our government is attempting to further encourage people to stay in mortgages they cant afford even at lower interest rates. The same government whose affordable housing policy pushed people into these mortgage now wishes to imprison them in a life of debt and misery. I guess this is compassionate liberalism. These same policies keep new buyers out of market. Decades of government subsidies have come home to roost.
Now with with many local and state governments in jams because of fiscal irresponsibility, taxes on real estate are increasing and that will not stop. Utility costs of home ownership increase each year. So instead of new subsidies to further support home prices,home owners are faced with increased overhead.
The government has also tried to inflate our way out of the housing mess. To date this has failed but has succeeded in destroying many in the middle class who are savers or live on fixed income. Those who have lived responsibly and made good decisions are being punished by the very government that created the problem.
There is also no way of telling how much capital has been miss allocated because of the favorable tax treatment of mortgages and the Clinton tax break. The market will find a way to reallocate this misplaced capital,the end result can only mean lower home prices.
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