January 28, 2010

Hittin' the Road

You know the drill..

Sam Alito. A historical mistake. An embarrassment. And just one more corrupted Republican, f*cking over the American people, serving his masters.

Ah, nice to see Sam Alito running for Joe Wilson's seat. And nice to see Obama calling him out.

Good speech tonight by Obama. Too bad talk won't get anywhere. Too bad the GOP, and their corporate interests, after running the country into the ground, wants to run the country further into the ground.

I'm not sure who's unfavourables increased more tonight - Alito's, or the GOP's. At least with the GOP, after they were exposed, they were tossed on their asses.

With Alito and his ilk, we're stuck. Perhaps for a generation to come.

January 25, 2010

Will Russia soon invade the United States, now that Sarah Palin isn't standing guard?

I'm getting worried.

Now that Sarah Palin is whoring herself out to Fox News, is anyone watching the border with Russia?

I mean, at any moment, we may be looking at Red Dawn 2.

I'm afraid.

Without Sarah Palin to protect us, is there any hope?

S&A proposes a constitutional amendment to ban corporate funding of US candidates and campaigns

So, John Roberts and his corrupted corporatist GOP-installed Supreme Court wants to give corporations the same rights as individuals? He and the four other corporatist pigs on the Court want to reverse decades of settled law, so that Exxon and Wal-Mart can install candidates of their liking ?

There's one way to trump 'em.

There's one way to save the nation.

It's time for a constitutional amendment to ban companies from further meddling in US elections. An amendment that would define the rights of The People, versus the rights of Corporations, when it comes to free speech and elections.

Call it the F*CK YOU EXXON amendment.

It was sickening to see this decision, but it was even more sickening to see the GOP and pigs like Mitch McConnell back it, thinking it would help them win elections.

Don't they realize that liberal companies like Google and Microsoft have a bunch of money too?

This isn't a left-right thing. It's an America thing. And corporations should NOT have the same rights as individuals. What next, they have a right to marry? A right to vote? What a joke.

John Roberts, Clarence Thomas, Sam Alito, Antonin Scalia and Anthony Kennedy were wrong, dead wrong, last week. How warped is their thinking? Their version of this passage would now read:

We hold these Truths to be self-evident, that all CORPORATIONS are created equal, and with their funds are superior to the common man. That they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty, the pursuit of Happiness, and Domination over the State and the People.

This judicial error exists because the Constitution and its amendments do not specifically define the rights of corporations versus man. 200 years of settled case law, and prior Supreme Courts not stacked with GOP corporatist pigs, had held a decent status quo. But now that the Supreme Court has been bought, it is up to the People to do what is needed, urgently, via an Amendment.

Time to fix this error. Time to smack down the five activist fringe GOP judges currently polluting the Supreme Court. Quick. As in this year. Before Exxon and friends run roughshod over the US political system, even more than they are today.

January 22, 2010

Shame. John Roberts, Clarence Thomas, Anthony Kennedy, Antonin Scalia and Sam Alito have (again) shamed the Supreme Court, and their nation.

Worst decision of my lifetime. Worst decision in 150 years. Shameful. Disgusting. And just goes to show you that the corporate takeover of America is now complete. Halliburton will be proud. The Bilderbergs and Skull & Bones will be pleased. Exxon and Wal-Mart will see their ROI.

As of today, we are all their bitches. We are owned. We are enslaved.


Shame on them. And shame on the American voter for letting it happen.

At what point does your country no longer deserve your support? Are we now there?

The Supreme Court removes important limits on campaign finance

FOR MORE THAN a century, Congress has recognized the danger of letting corporations use their wealth to wield undue influence in political campaigns. The Supreme Court had upheld these efforts. But Thursday, making a mockery of some justices' pretensions to judicial restraint, the Supreme Court unnecessarily and wrongly ruled 5 to 4 that the constitutional guarantee of free speech means that corporations can spend unlimited sums to help elect favored candidates or defeat those they oppose. This, as the dissenting justices wrote, "threatens to undermine the integrity of elected institutions across the nation."

This result was unnecessary because the court's conservative majority -- including supposed exemplars of judicial modesty -- lunged to make a broad constitutional ruling when narrower grounds were available. It was wrong because nothing in the First Amendment dictates that corporations must be treated identically to people. And it was dangerous because corporate money, never lacking in the American political process, may now overwhelm both the contributions of individuals and the faith they may harbor in their democracy.

January 21, 2010

Democrat leadership meeting, January 20, 2010

You gotta love the Dems. Ushered in with a landslide, and the overwhelming support of the people a year ago, after eight disastrous years of Cheney and the GOP.

And then they screw the pooch. They don't listen to the people. They (try to) do whatever the f*ck they want to do. And they fail.

But hey, that's what makes them Dems

Incompetent. Corrupt. Political idiots. Pussies.

Say goodbye to them as they get ushered out in 2010. And say hello to the corrupt, dimwitted and evil Republicans that replace 'em.

Republicans play chess. Democrats, well, what can you say. They give Reid and Pelosi the ball, and let them destroy the party.

And maybe that's not a bad thing.

January 19, 2010

The anti-Democrat anger is here, it is building, and in November 2010 it will be fierce. "Throw the bums out. All of them" will rule the day.

Obama and the Dems will learn what happens when you follow Harry Reid and Nancy Pelosi.

They'll learn what happens when you don't do the things that were promised, and completely piss off your base.

They'll learn what happens when you're in charge during 10%+ unemployment (no matter if it was your fault or not).

They'll learn what happens when you tax and spend, and do nothing about the deficit or entitlements bomb.

They'll learn what happens when you try to work with the GOP.

They'll lose.

Big time.


And we'll be right back to being led by the corrupt and brain-dead Republicans who got us into this mess.

God Bless America.

Isn't anarchy fun?

Get ready to vote 'em all out in 2010. Democrats and Republicans. And then in 2012, do it again. And in 2014, do it again. And in 2016, do it again.

January 17, 2010

RON PAUL UNLOADS: " We have broken from reality, a psychotic nation.. We must escape from the madness of crowds.. prepare for revolutionary changes.."

This, folks, is a beautiful speech, an important speech (thank you blogs and internet). And possibly a historic speech, depending on what comes next. Remember, first they ignore you...

"Prepare for revolutionary changes in the not too distant future" Ron Paul says.



Depends on stock and home prices of course, and what's on Idol.

After all, this generation of speculative, lazy and coddled Americans has proven time and time again that they enjoy taking it lying down. As long as home prices go back up, and something good is on the telly, no sweat.

Quite simply, we may be the French of the new millennium. Easily deceived. Believing the lies. And taking it lying down.

Until it was too late.

“Could it all be a bad dream, or a nightmare? Is it my imagination, or have we lost our minds? It's surreal; it's just not believable. A grand absurdity; a great deception, a delusion of momentous proportions; based on preposterous notions; and on ideas whose time should never have come; simplicity grossly distorted and complicated; insanity passed off as logic; grandiose schemes built on falsehoods with the morality of Ponzi and Madoff; evil described as virtue; ignorance pawned off as wisdom; destruction and impoverishment in the name of humanitarianism; violence, the tool of change; preventive wars used as the road to peace; tolerance delivered by government guns; reactionary views in the guise of progress; an empire replacing the Republic; slavery sold as liberty; excellence and virtue traded for mediocracy; socialism to save capitalism; a government out of control, unrestrained by the Constitution, the rule of law, or morality; bickering over petty politics as we collapse into chaos; the philosophy that destroys us is not even defined.

We have broken from reality--a psychotic Nation. Ignorance with a pretense of knowledge replacing wisdom. Money does not grow on trees, nor does prosperity come from a government printing press or escalating deficits.

We're now in the midst of unlimited spending of the people's money, exorbitant taxation, deficits of trillions of dollars--spent on a failed welfare/warfare state; an epidemic of cronyism; unlimited supplies of paper money equated with wealth.

A central bank that deliberately destroys the value of the currency in secrecy, without restraint, without nary a whimper. Yet, cheered on by the pseudo-capitalists of Wall Street, the military industrial complex, and Detroit.

We police our world empire with troops on 700 bases and in 130 countries around the world. A dangerous war now spreads throughout the Middle East and Central Asia. Thousands of innocent people being killed, as we become known as the torturers of the 21st century.

We assume that by keeping the already-known torture pictures from the public's eye, we will be remembered only as a generous and good people. If our enemies want to attack us only because we are free and rich, proof of torture would be irrelevant.

The sad part of all this is that we have forgotten what made America great, good, and prosperous. We need to quickly refresh our memories and once again reinvigorate our love, understanding, and confidence in liberty. The status quo cannot be maintained, considering the current conditions. Violence and lost liberty will result without some revolutionary thinking.

We must escape from the madness of crowds now gathering. The good news is the reversal is achievable through peaceful and intellectual means and, fortunately, the number of those who care are growing exponentially.

Of course, it could all be a bad dream, a nightmare, and that I'm seriously mistaken, overreacting, and that my worries are unfounded. I hope so. But just in case, we ought to prepare ourselves for revolutionary changes in the not-too-distant future.”

Screw you all!!! I told you I was untouchable!!! Obama can kiss my ass!! Bwa-ha-ha-ha!!! Bwa-ha-ha-ha!!!

"Much of the turmoil of this recession was caused by the irresponsibility of banks and financial institutions on Wall Street. These financial firms took huge, reckless risks in pursuit of short-term profits and soaring bonuses. They gambled with borrowed money, without enough oversight or regard for the consequences. And when they lost, they lost big."

- President Barack Obama, January 16, 2009, ripping on the criminal banksters that he still refuses to prosecute, either because of his administration's corruption, incompetence, ignorance or sickening lack of urgency

January 15, 2010

This month (so far) in islamic terror

Hey, what's that?

It's a spade.
(note that this list leaves out the beatings, the stonings and the canings)

List of Islamic Terror Attacks - January 2010

Date Country City Killed Injured Description

2010.01.14 Afghanistan Uruzgan 20 13 Three children are among twenty civilians blown to bits at a market place by a Fedayeen suicide bomber.

2010.01.14 Ingushetia Nazran 1 3 Islamists shoot a cop to death outside a mosque.

2010.01.14 Thailand Pattani 2 0 A Buddhist couple is shot to death by Muslims while riding to work. Their bodies are then burned.

2010.01.13 Thailand Pattani 1 4 Islamic terrorists ambush a group of electricians, killing one.

2010.01.13 Pakistan Tank 1 6 A child is killed from an explosive planted by religious radicals at a playground.

2010.01.13 Pakistan Hangu 1 0 A man is kidnapped and beheaded by Muslim militants, who then booby-trap the body.

2010.01.13 Yemen Shabwa 2 0 Two local soldiers are cut down in an al-Qaeda ambush.

2010.01.13 Afghanistan Ghazni 1 6 An Afghan police officer is murdered by Sunni roadside bombers.

2010.01.13 Iraq Saqlawiya 7 6 A suicide bomber sends seven Iraqis to Allah.

2010.01.12 Iraq Diyala 3 5 Terrorists murder three people with a brutal bomb blast.

2010.01.11 Pakistan Peshawar 1 5 One person is crushed to death in a Taliban rocket attack.

2010.01.11 Afghanistan Uruzgan 1 2 A policeman is cut down by a suicide bomber.

2010.01.11 India Jammu 1 0 Pakistani terrorists shoot an Indian border guard to death.

2010.01.10 Afghanistan Uruzgan 3 0 Three humanitarian workers die in a Taliban roadside attack.

2010.01.10 Thailand Narathiwat 2 0 Two men sitting in a tea shop are blown away by Muslim terrorists with automatic weapons.

2010.01.10 India Kulgam 2 1 Hizb-ul-Mujahideen gun down two former members who had renounced violence.

2010.01.10 Pakistan Mohmand 2 0 Suspected Islamists murder two tribal elders.

2010.01.09 Afghanistan Helmand 2 6 A British journalist is among two killed in a roadside Mujahideen bombing.

2010.01.09 Iraq Mosul 1 0 Freedom fighters kill a 16-year-old boy with a bomb.

2010.01.08 Pakistan Bajaur 2 2 Two people are blown to bits by a Taliban roadside bomb.

2010.01.08 Pakistan Karachi 5 7 Five mourners at a funeral are shot to death by sectarian Jihadis.

2010.01.08 Afghanistan Logar 2 0 Two Afghans are blown away at point blank range by a Fedayeen.

2010.01.08 Iraq Ras Al-Jadeh 2 0 Jihad bombers kill two local cops.

2010.01.08 Pakistan Khyber 8 11 Three children are among eight civilians murdered by a Lashkar-e-Islam suicide bomber outside a mosque.

2010.01.07 Egypt Nag Hamadi 7 10 Six worshippers and one guard are gunned down by Muslim radicals as they leave mass at a Christian church. A 14-year-old is among the dead.

2010.01.07 Afghanistan Nangarhar 9 44 Four children are among nine Afghans murdered by Islamic bombers in two attacks.

2010.01.07 Iraq Hit 7 6 Women and children are among the dead when Mujahideen detonate planted bombs around the bedrooms of four homes.

2010.01.07 Iraq Khanaqin 3 15 Three Iraqis are cut down by a Jihadi bomb.

2010.01.07 Afghanistan Uruzgan 8 0 All eight Afghan soliders riding in a vehicle are killed by a Taliban roadside bomb.

2010.01.07 Thailand Yala 1 0 A man is ripped in two by a Religion of Peace nail bomb.

2010.01.06 Iraq Mosul 2 1 Two children are killed by a bomb in their home, suspected to have been stored there by their father.

2010.01.06 Egypt Rafah 1 0 Hamas snipers take down an Egyptian soldier.

2010.01.06 Pakistan Sudhanoti 3 11 Three local soldiers are incinerated by a suicide bomber.

2010.01.06 Dagestan Makhachkala 6 12 A suicide bomber murders six Russian police officers.

2010.01.06 India Srinagar 3 11 Jamiat-ul-Mujahideen militants toss grenades and fire into a crowd at a shopping center, killing at least three people.

2010.01.05 Pakistan Mohmand 2 2 Two civilians are taken down by Taliban rockets.

2010.01.05 Pakistan Karachi 1 0 A 70-year-old leader of a religious minority is murdered while sitting in his store by Jihadi gunmen.

2010.01.04 Iraq Mosul 3 1 Sunni bombers blast three civilians into pieces.

2010.01.04 Iraq Kirkuk 3 7 Three Iraqis are murdered in a Mujahideen double bombing.

2010.01.03 Pakistan Hangu 4 2 A Taliban roadside bomb ends the lives of four people.

2010.01.03 Pakistan Bajaur 2 4 Two tribal elders are blown to bits by a Taliban roadside bomb.

2010.01.03 Pakistan Waziristan 2 5 A bombing and separate rocket attack leave two people dead.

2010.01.03 Iraq Tal Abta 3 0 Three road construction workers are gunned down by Muslim terrorists.

2010.01.02 Afghanistan Nimroz 5 6 Five civilians are killed when Sunni terrorists bomb their pickup truck.

2010.01.02 Somalia Dhusamareb 47 150 al-Shabaab Islamists assault a small town. At least four dozen people are killed in the fighting.

2010.01.02 Iraq Mosul 2 0 Two local cops are gunned down by Sunni terrorists.

2010.01.02 Iraq Baghdad 1 21 Jihadi bombers take out a civilian and injure two dozen others.

2010.01.02 Pakistan Orakzai 3 0 Three civilian village guards are ambushed and killed by Islamic militants.

2010.01.02 Afghanistan Kandahar 4 0 Four American soldiers guarding a road are murdered by a Taliban roadside bomb.

2010.01.01 Pakistan Shah Hason Khel 105 100 Children are amply represented among over one hundred spectators massacred at a volleyball tournament by a Fedayeen suicide bomber.

January 14, 2010

Google says "FU Communist Party of China".

No company or person should ever compromise their firm moral beliefs for the sake of a buck. Or a renminbi.

Realtors, hookers and Wal-Mart shoppers do it every day. But nice to see the guys at Google (finally) have some moral spine. "Don't be evil" they said. Just took 'em some time.

I heart Google. Sadly a voice in the wilderness though, as US corporations, the US government and the American people whore themselves out to the paranoid and corrupt leaders of China every day.

Radical cleric Pat Robertson issues fatwah against Haitians, cites their "pact with the devil", says the destruction of their homes is a "blessing"

Please donate to the Red Cross as they work courageously to save the lives of millions of desperate Haitians today and in the weeks and months to come.

And please join me in wishing Pat Robertson, snake oil salesman extraordinaire and former Republican candidate for president, a lovely time in hell, once he finally gets there.

Sane muslims need to cast out the devils amongst them. Sane christians should do the same.

Donate to the Red Cross in Pat Robertson's name. Channel your hatred for scum like him into something good.

PORT-AU-PRINCE (Reuters) - In the frightening pitch black of quake-stricken Haiti's night, religious songs rise from groups of people huddled in open spaces for safety and solidarity.

The chanting and clapping, mainly by women, echo from hill to hill, street to street, as Haitians pray for their dead and ask God to spare them more suffering after an earthquake that has killed thousands and flattened much of the capital.

While the widespread singing provides comfort, the jarring shrieks and sobs of injured children -- some lying in the street clutching bloody gashes -- are a haunting reminder of the untended suffering in Haiti.

"Oh my God, who will help my country now?" said Manuel Deheusch, a Haitian businessman who came rushing back from neighboring Dominican Republic to check on his friends, family and properties.

January 13, 2010

So now muslims in Malaysia are burning christian churches, because the christians can now legally call god 'allah'.

So, we've got muslims going after cartoonists.

We've got muslims burning down christian churches for calling god 'allah'.

We've got muslims putting bombs in their shoes and jockstraps to kill women and children on airplanes.

We've got muslim rulers empoverishing their people. We've got other muslim leaders shooting their people like dogs in the street.

Here's a news flash. There are no hindus blowing themselves up in markets. There are no christians flying airplanes into buildings. There are no jews with bombs in their shorts. There are no mormon leaders shooting and jailing peaceful protesters. There are no spaghetti monsters beating women who don't cover themselves in bags.

Here it is:

The world has a muslim problem.

And more specifically, MUSLIMS have a muslim problem.

Deal with it. Call a spade a spade. This 'my god is better than your god' crap has to end, especially when it comes to islam. It is 2010, not 1010 after all. And that goes for muslims, jews, christians, mormons, baptists, hindis and any other man-made religion that comes our way.

Bottom line? Islam needs an enema. Muslims themselves need to do the cleansing. Or the civilized world, over the next 50 years, will do it for them.

Malaysia in an Uproar Over Use of the Word ‘Allah’

BANGKOK — An uproar among Muslims over the use of the word Allah by Christians spread over the weekend with the firebombing and vandalizing of several churches, increasing tensions in a country that is in the midst of far-reaching political changes.

January 12, 2010

Rainbows and unicorns yippee!!! Crisis over!!!! Now let's pave the streets with gold!!!

Whew. That got scary for awhile.

No need to look at the man behind the curtain.

Everyone move along now. Nothing to see here.

Rainbows and unicorns yippee!!!!

Federal Reserve earned $45 billion in 2009

Wall Street firms aren't the only banks that had a banner year. The Federal Reserve made record profits in 2009, as its unconventional efforts to prop up the economy created a windfall for the government.

The Fed will return about $45 billion to the U.S. Treasury for 2009, according to calculations by The Washington Post based on public documents. That reflects the highest earnings in the 96-year history of the central bank. The Fed, unlike most government agencies, funds itself from its own operations and returns its profits to the Treasury.

January 10, 2010

The Economist, the most credible news source in the world, has one word. Again. Sit down. Here you go. Here it is. "Bubble".

Bubble warning
Jan 7th 2010
From The Economist print edition

"Investors tempted to take comfort from the fact that asset prices are still below their peaks would do well to remember that they may yet fall back a very long way. The Japanese stock market still trades at a quarter of the high it reached 20 years ago. The NASDAQ trades at half the level it reached during dotcom mania."

"Today the prices of many assets are being held up by unsustainable fiscal and monetary stimulus. Something has to give."

- The Economist, January 7, 2010

(in come the waves, again?)

January 9, 2010

In 2005, the National Association of realtors on Commission assured the nation that there was no housing bubble. Epic fail.

Here they were, November 2005, encouraging people to make the wost financial decision of their lives.

They were joined by their undereducated army of 1.2 million thieves, led by the hilariously clueless likes of Connie De Groot, Greg Swann, Leslie Appleton Young, Kendra Todd and that weird lady at your church who wears too much makeup.

I give you the full 2005 NAR anti-bubble statement now in its entirety. For posterity. So that nobody forgets. No matter how much they try to rewrite history.

Please don't kill them. Remember, like hookers and crack dealers, they're just out to make a buck. And remember, in many cases, they went bankrupt and lost their homes, reputations and careers too.

Housing Bubble Prospects Q&A

What is a housing bubble?

As broadly interpreted, a housing bubble refers to an unsustainable gain in home prices. The premise is that a price bubble is at risk of “popping,” resulting in a loss of equity.

Has there ever been a national housing price bubble?

No, not since good recordkeeping began in 1968. There was a national decline in the 1930s during the Great Depression; however, home prices were not a prime concern in that era. The greatest issues were essentials such as food, clothing, employment and shelter of any kind. Declining home prices were a natural result of a general economic collapse caused by the stock market crash in 1929.

What is the “normal” rate of home price growth over time?

Since 1968, the national median existing-home price has increased an average of 6.4 percent per year. However, that includes a period of high inflation. A better frame of reference is in relation to the overall rate of inflation. Home prices typically have increased 1.5 percentage points faster than the rate of inflation, as measured by the Consumer Price Index.

What are the biggest factors that drive home prices?

In simple terms, it gets down to supply and demand. The inventory of homes available for sale has been historically low since 2001, which is why home prices have been rising at above normal rates.In a balanced market between home buyers and sellers, there typically is a six-month supply of homes on the market. Over the last four years, the supply has hovered around 4.5 months. By contrast, in the recessionary period of 1990-1991, there was in excess of a 9-month supply.

What conditions are necessary for home prices to soften or decline?

Generally, two conditions are necessary for price softness in a given area: an oversupply of homes available for sale, and adverse economic conditions – generally a weak local job market. Sometimes these conditions occur against a backdrop of overall economic weakness, recession or high interest rates.

Where and when have home prices declined in the past? What were the general market conditions?

Most metropolitan areas, especially in the Midwest and South, have not experienced price declines in the era of modern recordkeeping. In the period from the mid-1980s though the early 1990s, many metros in the Northeast and on the West coast saw localized declines. Typically, this occurred in large population centers with very little capacity for growth. When housing shortages developed during a period of high demand, prices grew at sharp double-digit rates – often over 20 percent per year – for several consecutive years.After local economic conditions declined in those areas, home sales stalled and the inventory of unsold homes rose, which eventually led to price softness or decline.

How long have home prices declined in the past?

Although there are exceptions to any general finding, most metro areas that experienced price declines were relatively short lived (several years). Most homeowners who went through such downturns -- but stayed in their home for a normal period of homeownership -- still netted healthy gains when they sold. People view homeownership as a long-term investment as opposed to the kind of quick-in, quick out investment that Wall Street is fond of. Unlike stocks, homeowners don’t panic sell simply because a home down the street sold for less. Home prices tend to be sticky on the downside -- usually a single digit decline in any given year following a sustained period of double digit gains. Very few people buy at the top of a market and then sell in a short timeframe. After several years, home prices level and return to normal appreciation patterns.

Should we be concerned that home prices are rising faster than family income?

No. There are three components to housing affordability: home prices, income, and financing costs – the latter are historically low. During the last four-and-a-half years of record home sales, there has been a shortage of homes available for sale. As a result, home prices during this period have risen faster than family income. However, in much of the 1980s and 1990s, the reverse was true – incomes rose faster than home prices.On a national basis, according to the Housing Affordability Index published by the National Association of Realtors, a median income family who purchases a median-priced existing home is spending a little over 20 percent of gross income for the mortgage principal and interest payment. In the early 1990s, a typical mortgage payment was in the low 20s as a percent of income, and in the early 1980s it was as high as 36 percent. Overall housing affordability remains favorable in historic terms.

What are the prospects of a housing bubble?

There is virtually no risk of a national housing price bubble, based on the fundamental demand for housing and predictable economic factors. It is possible for local bubbles to surface under the right circumstances, but that also is unlikely in the current environment. There are tight supplies of homes available for sale in most of the country, and labor markets have been improving. In other words, the two conditions necessary for price softness do not exist in most of the country.The strong underlying demand for homes results from the simple fact that the population is growing faster than the supply of homes. In addition, it is highly unlikely that the cost of construction will decline. In fact, construction material shortages are expected to continue and the cost of building and development is trending up. Baby boomers remain in their peak earning years. Echo boomers – the children of the baby boom generation – are just entering the period of life in which people typically buy their first home. The echo boom is the second largest generation in U.S. history. Considering the median age of a first-time buyer is 32, echo-boomers will be a big factor over the next decade. In addition, immigration has been strong for many years. Census data shows that immigrants eventually achieve homeownership rates higher than do native born Americans – this also will be a strong factor in housing demand in the future. Also, minority ownership rates have been trending up. All this means the demand for housing is historically high and is one of the reasons 2005 will be the fifth consecutive year of record home sales. Even in an economic downturn, the demand remains.

If conditions become unfavorable, home buying may be postponed, but a general price decline remains highly unlikely.What is likely to happen with home prices?

The forecast is for mortgage interest rates to rise slowly over the next year, which will have a minor breaking effect on home sales. The good news is that will help inventory levels to recover and allow the market to come into a closer balance between buyers and sellers.In other words, a general slowing in the rate of price growth can be expected, but in many areas inventory shortages will persist and home prices are likely to continue to rise above historic norms.

January 7, 2010

Breaking news from the US

Anyone else feeling like a Roman in 476?


January 6, 2010

Senator Chris Dodd: Goodbye, and good riddance

A miserable failure.

A corrupt politician.

And now on his way out the door.

Goodbye, and good riddance.

One down. 99 to go.

January 5, 2010

From Pong to the iTablet. Americans invent some cool things.

A lot of people bet against American ingenuity this past year, figuring the Great Housing Ponzi Scheme would be the end of everything good, and that we'd never recover.


Yes, a bunch of bankers, realtors and congressmen conspired to steal trillions, and ruin lives.

Yes, our government is corrupt, hopeless and incompetent.

Yes, we're trillions and trillions in the hole.

But that doesn't mean America, and Americans, can't do great things. Come up with the big ideas. Invent the next new amazing thing. Destroy laggard businesses and products. And change the way people live their lives, for the better.

They can. And they will.

The telephone. The PC. The internet. Automobiles. Airplanes. Light bulbs. TV's. Spaceships. Puffs Plus with Lotion and Vicks. Cocoa Puffs. The cotton gin. Air conditioning. Nuclear bombs.

Next up: The iTablet. (sorry, Kindle, thanks for playing).

God bless America. Or at least the good folks at Apple.

(disclosure - of course I own AAPL)

January 4, 2010

Pick the dumbest building




Extra credit if you know what all three are.

January 2, 2010