Bloomberg interview with John Madden...bullish for Motorhomes?
If I weren't married I'd get one of those and leave it in the parking lot at work. No commute, instant patio party whenever I want. No property taxes either. Live like a nomad!
The men the American people admire most extravagantly are the most daring liars, the men they detest most violently are those who try to tell them the truth. -- H.L. Mencken
"Only a man who knows what it is like to be defeated can ... come up with the extra ounce of power it takes to win." - Muhammad Ali
"When plunder has become a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it." -- Claude Frédéric Bastiat
Just another temporary blip in the "numbers". The demand was totally artificial.
After car sales resume plunging look for Cash 4 Clunkers 2, then 3, 4, 5, and 6.
Anything to kick the can a little farther.
I was talking to a CPA friend yesterday at a Rotary meeting, He said he was hearing that a lot of people were taking the 8K government handout credit for new homebuyers when they sign a contract, not when the home closes. I wonder what happens when the loan doesn't go thru. another government gift.
In doing the deal, BB&T is marking down Colonial loans and real-estate collateral by 37%, a number that reflects a large amount of estimated losses. The biggest mark is on construction loans; BB&T is cutting their value by 67%. CR
Is 37% a lot? No wonder Goldman Sucks is pumping the bankster stocks so hard.
Just a reminder, just because you're paranoid, doesn't mean they aren't out to get you.
August 20, 2009 6:04 PM Ridge: I Was Pressured to Raise Threat Level in 2004
Posted by Kevin Hechtkopf
(AP) Tom Ridge is opening up about his time as the nation's first Secretary of Homeland Security during the Bush Administration. He has a new book coming out in a few weeks, and the details are starting to come out now.
The most striking claim is that Ridge says he was pressured by Secretary of Defense Donald Rumsfeld and Attorney General John Ashcroft to raise the security threat level on the eve of the 2004 election.
Doing business with the government is so much fun.
The Transportation Department won't say exactly what the rejection rate is, but in an Automotive News survey, some dealers said up to 80 percent of their rebate applications had been rejected. Some dealers are waiting for payments totaling as much as $200,000, the survey found. About 13 percent of dealers said they've suspended clunker deals because of red tape and concern about getting paid by the government.
I was talking to a CPA friend yesterday at a Rotary meeting, He said he was hearing that a lot of people were taking the 8K government handout credit for new homebuyers when they sign a contract, not when the home closes. I wonder what happens when the loan doesn't go thru. another government gift.
audit their aSSes and send them to keyster-pounding prison
What do you call a market that doesn't go down, when sell signals say it should go down?
Mebbe:
http://www.youtube.com/v/3t4g_1VoGw4.swf
Don't look too close... The current Weatha In mathematics you don't understand things. You just get used to them. Johann von Neumann We're all frinkin' doomed The Mogambo Guru In the long run, we're all dead John Maynard Keynes If voting changed anything, they'd make it illegal Emma Goldman Time flies like an arrow; fruit flies like a banana G. Marx
The numbers reported Turdsday by the Mrotgouge Banksters ASSociation show clearly that rising job losses are worsening the nation's housing troubles.
Forty-one states notched a rise in their foreclosure rate for prime fixed-rate mrotgouges in the second quarter, and prime fixed-rate loans accounted for one in three foreclosure starts.
"The reason people are defaulting on these (loans) is they simply don't have income, and there aren't any loan modification programs for someone who does not have income," said Rick Sharga, the vice president of the Irvine, Calif., firm ReamtyTrac.
The trend will grow worse.
"The rising levels of unemployment will probably, over the next nine to 12 months, become the primary impetus for foreclosure activity," Sharga said. "That's the wave that is just starting to hit."
There was more bad news on the employment front Turdsday, with the Labor Department reporting for a second consecutive week an unexpected rise in initial jobless claims. The 576,000 claims last week, following 561,000 the week before, likely sets up a bad employment report for August.
another 1,137,000 families chopped in the last two weeks, is that a lot?
