Wednesday, March 25, 2009

Tuesday, March 24, 2009

Credit Card Companies are slashing limits and Ruining Credit Scores

I am a good credit card customer. I have never missed a payment and always paid atleast my minimum payment no matter how bad my financial situation has been for almost 10 years now. You would think that credit card companies would appreciate me as a customer considering how many defaults have been taking place.

You thought wrong, I am getting the feeling that the card companies see me, and many other good customers, as defaults waiting to happen rather then the responsible customers we are.

American Express is the worst offender, they have slashed my limit twice and have been "chasing" me down as I pay off my card. It is kind of insulting that they would do this when I have given them no reason to suspect I would stop paying my bills.

I know that my credit score is much lower now simply because they have lowered my limit to just above my balance reducing my debt ratio and it pretty much sucks.

My opinion of American Express has really been adversly affected after this treatment and I really question what will happen to them in the future if they continue to treat their good customers this way.

Maybe Dave Ramsey was right after all.

Thursday, March 19, 2009

Dead Cat Bounce?

A dead cat bounce is a figurative term used by traders in the finance industry to describe a pattern wherein a spectacular decline in the price of a stock is immediately followed by a moderate and temporary rise before resuming its downward movement, with the connotation that the rise was not an indication of improving circumstances in the fundamentals of the stock. It is derived from the notion that "even a dead cat will bounce if it falls from a great height".

Wednesday, March 18, 2009

The New World Order is about to strike a blow to freedom: World Reserve Currency to be proposed @ G20

In this post back in December, I showed a video of Alex Jones interviewing Ron Paul about the NWO making a move to have a global currency and the inevitable loss of American Sovereignty.
The general consensus at the time was Alex Jones is a nut case and this would never happen:

Well friends...It really is happening and the evidence is right here:

At G20, Kremlin to Pitch New Currency
17 March 2009, Moscow Times Article:

The Kremlin published its priorities Monday for an upcoming meeting of the G20, calling for the creation of a supranational reserve currency to be issued by international institutions as part of a reform of the global financial system.

The International Monetary Fund should investigate the possible creation of a new reserve currency, widening the list of reserve currencies or using its already existing Special Drawing Rights, or SDRs, as a "superreserve currency accepted by the whole of the international community," the Kremlin said in a statement issued on its web site.

The SDR is an international reserve asset, created by the IMF in 1969 to supplement the existing official reserves of member countries.

The Kremlin has persistently criticized the dollar's status as the dominant global reserve currency and has lowered its own dollar holdings in the last few years. Both President Dmitry Medvedev and Prime Minister Vladimir Putin have repeatedly called for the ruble to be used as a regional reserve currency, although the idea has received little support outside of Russia.


The Kremlin document also called for national banks and international financial institutions to diversify their foreign currency reserves. It said the global financial system should be restructured to prevent future crises and proposed holding an international conference after the G20 summit to adopt conventions on a new global financial structure.

The Group of 20 industrialized and developing countries will meet in London on April 2.

The Obama Prayer


Our Obama, who art in Washington
Flip-flop be thy name.

They Presidency come, they will be done
In D.C. as it was in Chicago.

Please take away our daily bread
And raise our taxes
As we appease voters who want social services.

And lead us away from self defense
And deliver us from sovereignty.

For thine is the way of globalism
And the power of Socialism
Forever and ever,
Yes we can.

Tuesday, March 17, 2009

Why is Congress Crying about AIG Bonus when they Created this mess with Bailouts?

Someone help me understand the logic here...

If I was emperor of America, AIG would have been allowed to fail, the company would have went bankrupt and no one would have gotten a bonus. Voila!

However, Congress in all of its wisdom, decided to bailout an insolvent insurance company (AIG). The company was insolvent because it was poorly ran.

So please tell me why Obama and congress are all in an uproar that the same morons who are responsible for the poor business choices that led to AIG's demise would make an equally foolish move in rewarding bonus's with ill-gotten taxpayer money.

Don't you get it you monkeys? you created this mess! you allowed this to happen by bailing out an insolvent company which would not even be around right now to issue a bonus check if not for your wrong doing in the first place.

When you reward stupidity...stupid will keep happening.

Saturday, March 14, 2009

Thursday, March 12, 2009

Ever laugh so hard you cry?

The blog is a daily must read. The blog is ran by a Miami Realtor named Lucas who uses his blog as advertising to sell condo's, fair enough.

However, what makes the blog spectacular is the cast of characters who frequent it daily and constantly bicker, insult, and battle with eachother about the true value and future price of Miami condo's.

As I was reading the comments I noticed a debate had erupted over the idea that rich investors from latin America would save the condo market by purchasing the inventory. What follows are four comments from someone obviously pretending to be potential latin american investors which I feel is pure comedic gold, and they have to be shared.

I laughed so hard I cried, so I am hoping you enjoy these almost as much as I did... here we go...

Che Cavera /Mar 9, 2009 at 7:57 pm Vote: Add rating Subtract rating

As a formerly rich citizen of the Bolivarian Republic of Venezuela I am not offended by the Ace remarks for he speaks the truth. Venezuela like all of South American countries are extremely poor and those few Venezuelans that had money lost it all to Hugo Chavez. Just like Fidel Castro he took over the banks, the railroads, hospitals, refineries and most other private enterprise and property. If you weren’t fortunate to escape with your wealth then what you have left is worthless because it can only be sold at what the Chavez government says it is worth. I now sell used cars in Miami for a living and live in a small rented house with my wife a seven children I can assure you that I cannot afford the over priced Miami Condos but I dream of better days.

Pablo Picasso /Mar 9, 2009 at 8:39 pm Vote: Add rating Subtract rating

I come from San Pablo, Brazil and if I were to paint a picture of the slums in my home country it would offend your senses. As I never made it as a soccer player I came to the US as an illegle and been in Miami for 10 years and I me and my friends may squat in one of these Condos, we like the Jade!

(For those who don't know Jade is perhaps the most luxurious and expensive condo in Miami)

Speedy Gonzalas /Mar 9, 2009 at 11:21 pm Vote: Add rating Subtract rating

Speedy Gonzales

Sie senior I come frrom Guatamala and I must agree wid the Ace he the man that predicked $125.00 per squre inch I like to buy at that. Arrrrrrriba , ondelay! ondelay!

Salvador Dali /Mar 10, 2009 at 12:32 am Vote: Add rating Subtract rating

Many of you may find this abstract but the reality is we South Americans cannot aford the price of a taco let alone a condo.


Peter Schiff Was Right

Wednesday, March 11, 2009

HousingFear Quote of the Day.

$75 per sq ft is what Miami condos will soon be worth. We are looking at a period of 5 years (at least) thru which prices will slide and slide and slie. Once the food riots and civil unrest get underway…yes in Miami…you’re are going to see prices come off faster than clothes off a hooker.

Tuesday, March 10, 2009

Thursday, March 5, 2009

I predicted the DOW was going below 6k back in November...and boy does it feel good to be right.


It feels good to be right everyone once in a while

Sunday, March 1, 2009

Thought to Ponder

The S&P500 was at 735 in 1996 and is at 735 in 2009. In 2009 a dollar is worth just $0.74 compared to a dollar in 1996. This means in actual buying power, the S&P500 is in reality at 544 today if inflation were not a factor. The S&P500 would need to be at 933 today to be worth the same value as 735 in 1996.

View My Stats