Bush Paulson Ben and Congress will you please take off your
ROSE COLARD glasses? Paulson and ben said fan and fred won't need fed reserve window if housing prices don't fall. Well guess what they did fall and are still falling.Texas is now in trouble among other states that were doing well. So....... where does that leave you and me. Well........ deeper and deeper in debt. SO.... where will we be in oh say 1 or 2 months? 15Trillion or 20 trillion in debt? Who will hold our currency? We have about 1.3 more years to just get to the stopping of the sub prime intress only shenanigans housing is doing. Remember the Fed said Oct of 09. Then there is Iran and Bush. Iran says to continue nuclear path before deadline Reuters via Yahoo! News Wed, 30 Jul 2008 10:44 AM PDT Iran will press ahead with its nuclear path, the country's highest authority, Supreme Leader Ayatollah Ali Khamenei, said on Wednesday, speaking just before a deadline set by world powers in a nuclear dispute. US reaffirms Saturday deadline on Iran, warns of 'consequences' AFP via Yahoo! News Wed, 30 Jul 2008 9:16 AM PDT The United States reaffirmed Wednesday a weekend deadline for Iran to give a final answer to world powers seeking a breakthrough in the nuclear crisis, warning of consequences on any defiance by the Islamic republic. Obama says Israel could strike Iran if sanctions fail: report AFP via Yahoo! News Wed, 30 Jul 2008 8:06 AM PDT White House hopeful Barack Obama has told fellow Democratic lawmakers that Israel will launch a military strike on Iran if nuclear sanctions fail, ABC News reported Wednesday. Iran leader committed to nuclear path International Herald Tribune Wed, 30 Jul 2008 8:01 AM PDT Ayatollah Ali Khamenei's comments suggest that Iran may be preparing to take a hard line on demands by the United States, Russia, China, France, Britain and Germany that it stop enriching uranium before a deadline set this weekend. ECH>>>>>>>>>>>>>>>. [more]
June 07 unemployed. 7 mill. June 08 8.5 mill. Ok. Total unemployment is 8.5 full time and 1.1 million forced part time worker who wants full time. So now we have the true unemployed and the amount about
9 million. The number of persons who worked part time for economic reasons, at 5.4 million in June, was about unchanged over the month, but was up by 1.1 million over the past 12 months. These individuals indicated that they were working part time be- cause their hours had been cut back or they were unable to find full-time jobs. In June, about 1.6 million persons (not seasonally adjusted) were marginally attached to the labor force, little different from a year earlier. These indi- viduals wanted and were available for work and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally at- tached, there were 420,000 discouraged workers in June, little changed from a year earlier. Discouraged workers were not currently looking for work specifically be- cause they believed no jobs were available for them. The other 1.1 million per- sons marginally attached to the labor force in June had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. 8.8 trillion New Jersey.Taxpayers need $1B for pensions next year by Dunstan McNicholSaturday July 21, 2007, 9:30 AM
Things will change as all things will. Some things will not change however. We will still need food and clothing. So target or wal mart? I will go with wal mart because as the sitution gets worse then the shoppers of Target will go to Wal mart. Then the ones who go to Wal Mart will go to the dollar store. The new president who takes office will have to jump start the nation. This will be done with construction of our roads and bridges for the super highway,so X is a good steel co. and you will need concrete. I will look into that later. As our dollar gets weaker and China is now charging American companies over there a 25% capitol gain tax they are now starting to come back home to the U.S. because of the tax waivers of cities desperate for revenue from the jobs they will supply. So buy into the top 1 or 2 home builders for that monopoly and cost average down as you go. More blood in the streets so wait for the banks 3 or 4 should emerge for another monopoly but I have a feeling that Wells Fargo as bad as they are will survive. Buffet (CFR) likes it and is backing it so for now it looks good. We will get an energy bill and alternative energy will be the next bubble so go for the wind solar and yes bio fuel because they will go from corn to something else. Cost average down again. fcx and pcu for the copper and other stuff they will need to build the new factories and roads and bridges.So as this starts then buy into coach tiffany and other high end stores.
Buy Physical Silver and Gold. Pay off your Dept. Pay cash. Who got the jack pot with Bear Sterns? Who helped form the FED? J.P.Morgan.
This is a call to the independent voters and people of America. If you are like me and are fed up with the way the country is going we need to do something. I have an Idea and I need some one to pull it together. We need to create a lobby of the American People. I think that if banks and what not have lobbiest then so should the American people. Lets pick the very few people in congress who are actually are doing good then lets get behind for them and start hounding the others to what is right for us. We the People. I want to know what you think because I am buying more gold and have planted a garden and am reaping the benefits. Fool on.
In going over the housing bill for Fannie and Freddie they get unlimited credit for 18 mos. Is Paulson and Ben really on our side? All of this money will go to the Private Owners
(RUSSIA CHINA AND JAPAN ) and not to the stock owners. I THINK that Paulson and Ben are selling this country to the 2 largest COMMUNIST COUNTRY'S in the WORLD.I look at this government and Congress as selling this country away and using my and your money to do this. Am I wrong? Please tell me I am wrong. UNLIMITED CREDIT TO RUSSIA AND CHINA? PLEASE TELL ME I AM WRONG. [more]
The FAN and Fred bill would increase the federal debt limit by $800 billion to $10.6 trillion. What is the TOTAL DEBT of the United States? America's Total Debt Report - page 2 $ 53 Trillion - - and soaring - household, business, financial and government sectors -
Michael Hodges - email updated June 2008 - a chapter of the Grandfather Economic Reports - [more]
If you earned
20,000.00 back in 1970 has your pay gone up with what it should be today. Labor dept. says 112,791.24.How does your pay check compare to today?
You can't have more than 250,000.00 if you want it covered so you need to have it in different banks because if you have more than one in a bank then they won't cover. What about the annuities well they are not covered. The mutual fund> I don't think that it is covered either. So how well covered are you?
how do the reverce morages affect the banks ballance sheet? any answers?
I came across this artical and the new way banks are maniplaping you and me to make some money. What is Chase and Bac doing? Well this is what wells fargo is doing. Second Liens Still Lurking at Wells Fargo By: PAUL JACKSON July 16, 2008 related Wells Fargo: Earnings Drop as More Borrowers Miss Payments (Update 1) Wells Fargo Re-Ups Servicing Contract with Fidelity Wells Fargo Ditches Subprime Wholesale - Will Others Follow Suit?
Despite second quarter results that were better overall than analysts had expected,
Wells Fargo & Co. ( WFC: 27.23 +32.76%) remains under growing pressure from a deteriorating $84 billion home equity portfolio, bank executives said Wednesday morning. [more]
Should msft get yahoo? Let me tell you what I remember. The reports were at the time. Housing is tanking. Questions about what is going on. Talk about goog and msft search and then the commit about how
all the traders use yahoo search to find out about their stock. Just an innocent statement that set off a chain of events. Icon bought a stake and msft made an offer. I don't know what order that was. The rest you know. Back and forth it goes. My question is should MSFT buy YAHOO? If MSFT takes over what they want the most the search unit how will that affect the reliability of the information the traders? What do you think and is there something we can do? [more]
So. The Insolvent
FDIC needs more money so they will get it from the banks. The banks are insolvent by their own balance sheets. SO............. they will get it from????????/ oh yea we the people. Now they will charge more fees. Buy Gold. eletric companies food stock. Plant a garden. Buy gold jewelry and put it in safety deposit box. Will FDIC let you get to that if the bank fails? 10??? TRILLION ON THE LINE for Freddie and fanny???? How much for other banks. 20 30 40 TRILLION? Chase bac who else out there. There are 90 so. How many more? Fed bails Freddie and fanny you will see $200.00 barrel oil by the end of the month. That is just the beginning of how bad the dollar will be by Aug. So get ready because the roller coaster has started the plunge. HISTORY IN THE MAKING AND THEY WILL CALL FOR CALM. Not MY Money will they use. Oh HE double hockey sticks no they don't get my money. I will pay cash. Fool On. Got to love this next week. [more]
This is what is keeping the central bank and others up at night. They hear the crash coming.
Release Date: February 5, 2008
Last year at this time the FDIC still had 94.32 in covered ratio and now it 90.28 billion as of March 31, 08. As of the end of June they had about 52 billion. It is going fast. This is also before Indy Mac. Buy gold.
Statistics at a Glance As of March 31, 2008 Dollar Amounts in Billions First Quarter 2008 All Insured Institutions Commercial Banks Savings Institutions Asset Concentration Group International Banks Agricultural Banks Credit Card Lenders Commercial Lenders Mortgage Lenders Consumer Lenders Other Specialized < $1 Billion All Other < $1Billion All Other > $1Billion Number of FDIC-Insured 8,494 7,240 1,254 6 1,550 26 4,749 807 102 364 838 52 Number of FDIC-Supervised 5,176 4,753 423 0 1,071 10 2,960 330 53 214 518 20 Total Assets $ 13,369 11,495 1,875 3,086 158 449 5,271 1,363 66 39 113 2,824 Total Loans $ 7,968 6,666 1,301 1,252 103 326 3,705 975 56 9 63 1,478 Domestic Deposits $ 7,069 5,937 1,132 800 128 145 3,492 781 54 28 93 1,548 Net Income (QTR) $ 19.347 19.302 0.045 2.600 0.466 5.189 10.197 -0.720 0.211 0.209 0.284 0.911 Percent Profitable (QTR) % 86.1 87.1 80.1 83.3 96.6 92.3 82.5 83.0 90.2 73.9 94.3 86.5 Average Return on Assets (QTR) % 0.59 0.68 0.01 0.35 1.20 4.60 0.78 -0.21 1.30 2.18 1.02 0.13 Average Return on Equity (QTR) % 5.72 6.71 0.09 4.44 10.66 20.59 6.87 -2.57 14.31 10.74 9.00 1.36 Net Interest Margin (QTR) % 3.33 3.38 3.02 2.83 3.84 8.64 3.67 2.73 4.90 3.07 3.61 2.61 Equity to Assets % 10.18 10.08 10.81 7.57 11.22 22.86 11.36 8.09 9.01 19.97 11.33 9.61 Noncurrent Loan Rate - Total Loans * % 1.71 1.60 2.24 1.55 1.27 2.22 1.76 2.39 0.83 0.93 1.04 1.25 Real Estate Loans % 2.19 2.12 2.44 2.33 1.46 2.05 2.25 2.48 0.63 0.97 1.09 1.77 C&I Loans % 0.79 0.78 1.06 0.47 1.55 2.82 0.87 1.14 0.81 1.35 1.33 0.65 Consumer Loans % 1.47 1.51 1.04 2.06 0.75 2.35 0.81 1.01 0.97 0.60 0.72 0.71 Coverage Ratio ** % 88.88 96.24 61.96 112.56 103.49 222.70 77.12 54.97 209.06 146.56 114.53 90.28 Net Charge-Off Rate - All Loans (QTR) % 0.99 0.95 1.19 1.13 0.14 4.97 0.70 1.15 1.78 0.23 0.17 0.64 Real Estate Loans (QTR) % 0.73 0.65 0.98 1.26 0.09 2.94 0.56 1.09 0.47 0.04 0.08 0.59 C&I Loans (QTR) % 0.67 0.63 1.40 0.29 0.30 6.65 0.65 1.11 4.50 0.02 0.22 0.41 Consumer Loans (QTR) % 3.07 3.02 3.51 3.08 0.51 5.16 2.17 2.50 2.33 0.76 0.62 1.66 First Quarter 2007 Number of FDIC-Insured 8,649 7,379 1,270 4 1,617 26 4,719 798 115 403 906 61 Number of FDIC-Supervised 5,215 4,782 433 0 1,120 10 2,903 315 61 238 542 26 Total Assets $ 11,982 10,135 1,847 2,436 149 407 4,758 1,507 99 46 119 2,461 Total Loans $ 7,278 5,972 1,306 1,056 99 297 3,315 1,040 77 10 67 1,316 Domestic Deposits $ 6,695 5,523 1,172 683 122 102 3,295 956 76 32 98 1,331 Net Income (QTR) $ 35.644 31.173 4.471 5.564 0.442 3.977 13.603 3.437 0.433 0.229 0.293 7.666 Percent Profitable (QTR) % 91.0 91.9 85.7 100.0 96.0 88.5 90.5 86.0 92.2 77.4 94.3 98.4 Average Return on Assets (QTR) % 1.20 1.24 0.97 0.93 1.19 3.84 1.15 0.91 1.77 2.03 0.99 1.25 Average Return on Equity (QTR) % 11.33 12.07 7.94 12.10 11.02 15.93 10.20 9.07 17.24 9.94 8.77 12.76 Net Interest Margin (QTR) % 3.32 3.38 3.02 2.46 3.91 8.18 3.72 2.71 5.03 3.15 3.63 2.89 Equity to Assets % 10.58 10.27 12.29 7.67 10.87 24.50 11.33 10.15 10.25 20.27 11.26 9.75 Noncurrent Loan Rate - Total Loans * % 0.84 0.83 0.89 0.87 1.04 1.82 0.77 0.84 0.68 0.66 0.85 0.78 Real Estate Loans % 0.91 0.91 0.91 1.13 1.05 2.08 0.86 0.86 0.35 0.63 0.87 1.01 C&I Loans % 0.62 0.61 0.78 0.41 1.55 1.97 0.64 0.73 1.06 1.19 1.20 0.55 Consumer Loans % 1.17 1.22 0.77 1.55 0.70 2.00 0.65 0.56 0.81 0.50 0.62 0.60 Coverage Ratio ** % 127.97 139.88 77.16 125.21 130.87 212.70 145.46 59.61 210.26 200.85 143.19 94.32 Net Charge-Off Rate - All Loans (QTR) % 0.45 0.48 0.33 0.57 0.14 3.86 0.23 0.21 1.43 0.18 0.17 0.31 Real Estate Loans (QTR) % 0.10 0.11 0.08 0.21 0.04 1.57 0.10 0.09 0.14 0.03 0.06 0.08 C&I Loans (QTR) % 0.35 0.32 0.76 0.07 0.47 3.96 0.30 0.28 3.11 0.27 0.30 0.33 Consumer Loans (QTR) % 2.43 2.38 2.83 2.65 0.59 4.17 1.19 2.72 1.87 0.51 0.65 1.53
* Nonaccruing loans and loans past due 90+ days
Has Wall Street factored in the
Commercial property bankruptcy as well as commercial foreclosures? Have the also factored in the sheriffs sales? What about the Bankruptcies for business? Have they factored in the Tax Liens for delinquent taxes? What about the Hud housing foreclosures? All of these OTHER problems have not been reported or even factored. Then add in credit card defaults. Auto Repos are up also. FDIC can only cover 50 (more or less) billion in funds and the central bank our FED only has about a 23 billion in reserve. (according to the congress hearing today unless I mis heard.) How safe is your money in the bank? [more]
Free and just societies create opportunity for their citizens, and the United States is encouraged by the movement toward economic freedom we are seeing across the Middle East. [more]
Among the unemployed, the number of persons who had lost their last job was but has risen by essentially unchanged at 4.4 million in June, 952,000 over the The numbers of unemployed reentrants and new entrants to the past 12 months. labor force were little changed in June; both groups had increased sharply in May. (See table A-8.) In June, about 1.6 million persons (not seasonally adjusted) were marginally attached to the labor force, little different from a year earlier. These indi- viduals wanted and were available for work and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally at- tached, there were 420,000 discouraged workers in June, little changed from a year earlier. Discouraged workers were not currently looking for work specifically be- cause they believed no jobs were available for them. The other 1.1 million per-marginally attached to the labor force in June had not searched for work in sons the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. (See table A-13.) Real Earnings Internet Address: http://www.bls.gov/ces/ Technical information: (202) 691-6555 USDL 08-0791 Media contact: 691-5902 TRANSMISSION OF MATERIAL IN THIS RELEASE IS EMBARGOED UNTIL 8:30 AM EDT, FRIDAY, JUNE 13, 2008 REAL EARNINGS IN MAY 2008 Real average weekly earnings fell by 0.4 percent from April to May after seasonal adjustment, according to preliminary data released today by the Bureau of Labor Statistics of the U.S. Department of Labor. A 0.3 percent increase in average hourly earnings partially offset a 0.7 percent increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Average weekly hours were unchanged. Data on average weekly earnings are collected from the payroll reports of private nonfarm establishments. Earnings of both full-time and part-time workers holding production or nonsupervisory jobs are included. Real average weekly earnings are calculated by adjusting earnings in current dollars for changes in the CPI-W. Average weekly earnings rose by 3.2 percent, seasonally adjusted, from May 2007 to May 2008. After deflation by the CPI-W, average weekly earnings decreased by 1.2 percent. Before adjustment for seasonal change and inflation, average weekly earnings were $601.10 in May 2008, compared with $583.01 a year earlier. Import Goods May import prices rose 2.3 percent and were up 7.9 percent between February and May, the largest three-month jump for the index since October 1990. Import prices advanced 17.8 percent over which was the largest year-over-year rise since the index was first published in September the past year, 1982. Higher petroleum prices continued to be a major contributor to the advance in overall import prices, increasing 7.8 percent in May after rising 5.9 percent and 9.8 percent, respectively, in the prior two months. Petroleum prices rose 68.8 percent for the year ended in May, the largest 12-month advance since the index was up 82.5 percent between February 2002 and February 2003. Nonpetroleum prices also increased in May, although the 0.5 percent advance was modest compared to the 1.3 percent increase in April and the 1.2 percent rise in March. The index was up 6.6 percent over the past year. Rising petroleum prices in May led to higher prices for imports from Canada, the European Union, and Mexico.
7,078,000 for 2007 ( And so more coming.) If you go to the labor department web sight and go to their inflation caculator you will see that in 1970 your 100.00 dollars would now be 558.33 now. Has your pay from 1970 gone up that much yet?Dwot has written a very good blog about how wages havent gone up and immagration. Welcome to GLOBALAZATION. Got to love it. My crystal ball says more pain to come. [more]
risks to inflation are likely not symmetric and they have definitely increased. We cannot and will not allow a wage-price spiral to develop," she said. Yellen is not a voting member this year of the U.S. central bank's Federal Open Market Committee, which sets monetary policy. Oh the central bank is going to be so supprised and shocked and behind the curve again that the markets will freek again . Little knowed fact that in Nov. (Election Time) min wage is due to go up $1.00 from $5.85 to $6.85. Yellen said We cannot and will not allow a wage-price spiral to develop," she said. Code words are we are going to keep you dirt poor. SUPRISE YELLEN and our central bank 1/3 of the country are going to get a pay raise and that amounts to 20 million people getting $8.00 a day more. What is that going to do their figures then? Time will Tell. Fool on my friends fool on. [more]
US to take North Korea off rogue states list and lift sanctions
Jonathan Watts, east Asia correspondent and Mark Tran guardian.co.uk, Thursday June 26, 2008 Article history
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Is the failure of the
SEC part to blame for the Housing, sub prime, energy mess? Or is this a bigger part of the corruption of our leaders in the WHITE HOUSE and CONGRESS? How much of this is because our ELECTIVE OFFICIALS have NOT done their Jobs? To my simple way of thinking and in my humble thought it is 1. There is a Media Cartel and the real journalist don't report the news anymore. 2. We as Americans have let this happen. 3. Due to past events we have a wide definition of what a terorist is and yet we still have very little control over our boarders and ports. 4.The very people who protect us from These invaders are put in jail (Romas and Compion). The criminal ran free for awhile selling drugs to our children. 5. National Guard no longer helping Border Patrol secure our borders . 6. Bush Sr. and the S & L Mess and Clinton with (The North American Free Trade Agreement took effect on January 1, 1994. NAFTA opponents - including labor, environmental, consumer and religious groups - argued that NAFTA would launch a race-to-the-bottom in wages, destroy hundreds of thousands of good U.S. jobs, undermine democratic control of domestic policy-making and threaten health, environmental and food safety standards. [more]
(06-20) 22:48 PDT CARACAS, Venezuela (AP) --
How bad will it get? Here is some information so you can do the math.
July-08 50 million this month alone and 75 million last month. How many could refinance? What will the new foreclosures rates be and more job loss and open boaders for cheep labor do for stocks? S & P 950? The Real Estate Bloggers
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