Archive for Economics
Two Nights, one Hotel Room in Copenhagen Costs Taxpayers $4406.00
Posted by: | CommentsLet me get this straight: Americans are all being forced to: tighten their belts due to a recession caused by government interference with the housing market; warily watch the economy for the feared “double-dip” recession that, if it comes, will also have been caused by government interference in the Nation’s business; hold onto jobs that they don’t like for fear of being unable to find another one if they quit; take “stay-cations” because they can’t afford real vacations; and basically cut back on anything and everything.
Meanwhile, over 100 Representatives and government workers spent over $1.1 million dollars to attend the Copenhagen Summit. Not only did our Representatives spend 1.1 Million Tax-Payer Dollars to attend a summit based on fabricated evidence of Global Warming, (Climategate emails), but they also in no way accounted for the taxpayer money they spent while there. Furthermore, had the so-called leaders had their way, this Summit would have forced Americans to pay higher taxes and increased energy costs in order to subsidize third-world, emerging countries’ efforts to go “green”. So we go to a Climate Change Conference to pay countries like China to whom we already owe billions of dollars.
The recently released expense report lists each Representative and some staffers being reimbursed exactly $4,406.00. Nancy Pelosi claimed that $4,406.00 was the cost of the hotel (the Five Star Marriott Copenhagen):
Pelosi’s office did offer an explanation for the high room charges. Those who stayed just two nights were charged Read More→
Jesse Ventura and Exposing the Global Warming Conspiracy
Posted by: | CommentsWhether you are a fan Jesse Ventura or not, his latest episode of Conspiracy Theory, a Tru TV show, is well worth watching as he cracks open this nutshell that we have come to know as Global Warming or what has recently been labeled Global Climate Change. So many real people have come to see this as being nothing more than a “Ponzi Scheme” that has been created by none other than Al Gore who stands to make billions from his Carbon Credit exchange. This episode reveals some of the key players in this ponzi scheme
In this latest edition of Conspiracy Theory it is exposed that any pollution creating company can pollute as much as they want. All they have to do is exchange or purchase carbon credits from companies that have as much pollution and they can then claim their company as being carbon neutral through these means.
Having watched all of Jesse Ventura’s program, this leaves me with asking President Obama what his true motives and agendas are for having participated in the Copenhagen Global Warming Conference? Mr. President, I don’t need a response. I already know the real answers that I will never hear from our teleprompter.
Part 1
Part 2
Part 3
Part 4
Part 5
Part 6
A special thanks to “stang289″ for bringing this to my attention!
1.7 Million “Shadow Inventory” Looms Over Housing Industry
Posted by: | CommentsAn interesting housing industry report surfaced yesterday, stating there is an estimated “1.7-million-unit pending supply of residential housing inventory”, which is up from 1.1 million from just a year ago.
Shadow Inventory looming over housing industry
This housing inventory is often referred to as “shadow inventory”, which is based on estimates of real estate owned (REO) by banks and mortgage companies, as a direct result of foreclosures and other actions, such as deeds in lieu, as well as real estate that is at least 90 days delinquent. It is also worthy of noting that shadow inventory is not included in official measures of unsold real estate inventory.
Based on the current sales rate, the estimated supply is 3.3 months, which is up from 2.4 months a year ago. The months’ supply is a measure of how quickly the inventory will run off based on the current sales rates.
A document, found on First American CoreLogic, states,
“The visible supply of unsold inventory was 3.8 million units in September 2009, down from 4.7 million a year earlier. The visible inventory measures the unsold inventory of new and existing homes that are currently on the market. The visible months’ supply fell to 7.8 months in September 2009, down from 10.1 months a year earlier.”
Methodology:
First American CoreLogic utilized its LoanPerformance Servicing and Securities databases to size the number of 90+ day delinquencies, foreclosures and REOs. Roll rates, which measure the proportion of loans that were in one stage of default that rolled to the next stage of default over a period of time, were applied to the number of loans in default by each stage of default. This calculation allowed for estimating the number of loans that were proceeding from earlier to later stages of default. Then we calculated the share of loans in default that are currently listed on MLS by matching public record properties in default to MLS active listings. We applied the percentage of defaulted loans that are being listed to our estimate of outstanding loans that will proceed to further stages of default to calculate the pending supply inventory by stage of default and added that to the visible inventory that is reported for existing homes and new homes by the National Association of Realtors and the Bureau of the Census, respectively.
Pelosi’s Bandage for a Temporary Jobs Solution
Posted by: | CommentsWhile many of us were busy watching and fighting the health care reform bill yesterday, the President’s playmate, Nancy Pelosi, worked the House for an hour to close a deal on the next Democrats Jobs Bill.
I know this is going to leave you throwing your hands up in the air and shaking your heads and even asking questions like, how can they pass another jobs bill when the last one they passed, TARP, has only had a fraction of the money used and has yet to produce many quality long term jobs? Here’s an example of the types of jobs they are so proud to have saved, “Department of Education Video Highlights School Counselor Jobs Saved in Fairfax County, Va.“. Don’t get me wrong, I am grateful there are “SOME” people who have had their jobs saved. My point here is, if their jobs were slated to be cut, then what will happen when the temporary funding runs out? Answer: The positions will be cut! This is why I see these funds as being used as a temporary bandage instead of a real jobs solution.
The plans are for $50 billion for public works projects (can we say union jobs and pad the pockets of your friends, projects?) with a nearly $50 billion being dedicated to financially strapped state and local governments (once again I would bet we could track this money right to the areas providing the most support to Democrats).
What does all this truly mean? It is my belief, and others, that this money, and the remaining unused TARP funds, will be used in an attempt to try and secure wins in 2010 and 2012. Time for a wake up call, people. It’s not too hard to see that a win for them just isn’t going to happen.
The sad fact is that this is only a bandage for the real issues of state and local governments having chosen to create too large of budgets during the good times and their unwillingness to make tough, yet necessary, cuts to those budgets during this economic downturns. This issue isn’t just an issue of Democrats. The old school Republicans carry a lot of blame here as well.
The plan passed with a vote of 217-212 with no Republicans voting for the bill and a shocking 38 Democrats voting against it.
American Family Association Updates Naughty and Nice Retailers List
Posted by: | CommentsIn all fairness to the retailers who have chosen to mention Christmas in their advertising campaigns aimed at the Christmas shopping crowd, I felt it to only be fair to show the updated naughty or nice retailers list put out by the American Family Association. There are a number of retailers who have decided to back away from the political correctness crowd and have a change of heart as they have chosen to make mention of Christmas in their advertising. Our previous naughty or nice retailers article was published on Nov. 13, 2009 and included a list that had been updated on Nov. 11, 2009.
Before I continue with the AFA’s naughty or nice retailers list, I’d like to offer DISH Network a big round of applause for their open stance on embracing the Christmas Holiday tradition. They have even provided the AFA with a statement of support for the Christmas Holiday which included a link to their Christmas ad (shown below the naughty or nice list).
Here is the updated list for you to help you decide where to do your Christmas Holiday shopping.
AFA's Naughty or Nice Retailers List
Here is the Christmas ad put out by DISH Network. Too bad all these retailers don’t take such a level of pride in our Christmas Holiday tradition.
Three Quarters of a Year With Hope, But Change is for the Worse
Posted by: | Comments
Now I am no economist, banker, or financier but – I do know a major change for the worse when I see one in black and white. The Arkansas Democrat Gazette (Arkansas’s statewide newspaper) has on this Tuesday morning, October the 13th, 2009, 5 full pages (front and back) of foreclosures. The paper itself is only 48 pages! I am a whiz at math though & that’s over 20% of the paper devoted to foreclosures. What is unique about this particular issue, there is only 1 break in the listings as circled in the page layout above. It’s a little comic of Ripley’s Believe It Or Not! That is strange enough, but as you will see below it seems to answer Ripley’s requested exclamation. The titles of the comic facts are “Venom…” , ” Oops! Wrong Way…”, and “You Go… And Go, And Go..”! How appropriate that they accompany this sad volume of listings.
So if you hear the specialists droning on with fanciful speeches that the economy is on the rebound, DON’T YOU BELIEVE IT! For every house, property, business that is in foreclosure – equates directly to loss of employment. This is just a keen observation.
Subscribe via RSS
Join us on Twitter
Suggest a Story
