When Historians look back at the Second Great Depression of 2009->2019 they will conclude it was caused by one thing...
BANKS GAVE LOANS TO PEOPLE WITH NO DOWN PAYMENT AND BAD CREDIT, WHO HAD ALREADY PROVEN THEY WOULD NOT PAY BACK DEBT!!!
That is how it all started, the global great depression, civil unrest, and unraveling of the world financial system was all because greedy idiots thought this was a smart idea. Let this always be remembered.
Sunday, February 22, 2009
Posted by Chris at 7:22 PM
Has anyone noticed its been impossible to get your hands on AK-47 ammo lately? In fact It seems like handgun ammo is almost all gone also.
Went to Dunhams and they were out of 7.62, Walmart had 1 box of really expensive hunting loads, and all Meijers had was shotgun and .22 ammo.
Even Cheaper than dirt is running low on assault rifle ammo
Either people are afraid that Pelosi and Obama will ban firearms or they are getting ready for all hell to break loose...Both idea's are overwhelming.
Posted by Chris at 4:18 PM
Friday, February 20, 2009
I have just changed the title page of my blog from Hyperinflationary Recession to Depression.
I have been around long enough to know what a Recession is, and I was feeling that back in 2007. In fact If you read my older posts you will see I was calling this a recession back when everyone said the economy was "strong"
As always, I have proven myself to be one step ahead of the criminal media propaganda, and while they are finally coming around to calling this a recession, we all know the truth, this is far beyond a simple contraction in the economy. This is the great unraveling of the financial system as we know it.
Therefore, On Feb. 20th 2009, I am declaring the USA to be in a Depression, no math formula's, no bogus government unemployment numbers that grossly underestimate the true jobless rates here. No pseudo GDP numbers based on make-believe CPI.
This is the second American Depression.... and its well on its way to being great.
Posted by Chris at 10:08 PM
Wednesday, February 18, 2009
Headlining the plan was a $75 billion Homeowner Stability Initiative, under which would provide incentives to lenders to cut monthly mortgage payments to sustainable levels. It defines this at no more than 31 percent of a homeowners income.
Oh great... this is just wonderful for all of the illegals living in 500k mcmansions.
I could see the call now...
"Whats that pedro? your mortgage is for 500,000 and you only make 8.00 an hour working at Mcdonalds? Ok no problem... We will make your mortgage payment 333.00 a month (31% of your income) Enjoy your house and low payment.
Sounds like a great plan, I want to go out and commit mortgage fraud today!
Posted by Chris at 7:11 AM
Monday, February 16, 2009
Sunday, February 15, 2009
Thrift regulator urges suspension of foreclosures while Obama develops mortgage aid plans
- By ALAN ZIBEL |AP Real Estate Writer
- 4:00 PM CST, February 11, 2009
Welcome to communist America circa 2009.
The greedy and stupid get rewarded for purchasing homes they could not afford with government subsidized loans reducing interest rates and principal. The government is actually stepping in to the free market and altering private mortgage contracts which it has absolutly no business doing.
Furthermore, this is creating such a moral hazard that the unintended consequences and ramifications of these actions will be long lasting and astounding.
Why will the responsible people, who are now underwater on their homes also, continue to pay their bubble priced mortgages off. Yes, they do have the ability to pay and do have a down payment and credit score on the line unlike the stupid, broke, home debtors getting bailed out but that will not be enough.
A little ding on your credit score is worth it to a lot of people to get lowered principal and a lower interest rate saving them countless thousands of dollars.
Any foreclosure bailout, and sweet deals offered to the deadbeats, will simply cause more people to quit paying to get the same deal. This leads to even more tax payer money going to bail out and modify more loans and an even larger crisis.
Obama sure did give us change...but its not the kind I believe in.
Posted by Chris at 12:19 PM
Wednesday, February 11, 2009
Forty-four percent (44%) voters also think a group of people selected at random from the phone book would do a better job addressing the nation’s problems than the current Congress, but 37% disagree. Twenty percent (20%) are undecided. -Rasmussen Reports
The part that makes me laugh is the 20% who are undecided, LMFAO! That means only 37% of Americans are sure our current congress can do better than a random selection of people.
Posted by Chris at 6:41 AM
Monday, February 9, 2009
Soon the time will come when the slaves stand up to their oppressors and become free.
Soon the time will come when the congress represents the people instead of working against them.
Soon the time will come when hard work is rewarded and laziness is punished.
Soon.... Americans will descend upon washington holding sharpened pitchforks and demanding justice.
Soon that day will come....For now...Sharpen that pitchfork!
Posted by Chris at 8:58 PM
Monday, February 2, 2009
It is a shame that more people do not listen to this man. How do you expect to solve a recession created by debt by piling on even more debt. Obama is trying to pump a heroin addict up with more a huge dose of heroin to make him feel better. The reality is that withdrawl is painful, but that pain purifies the body and solves the problem of addiction to credit long term.
Posted by Chris at 10:20 AM