alstry (35.81)

Americans: The Mother Of All Greeks

May 18, 2010 – Comments (6)

About 2/3 our population is directly/indirectly dependent on a government check to eat

Our federal government now runs a deficit larger than most economies

Our total debt, public and private, approaches 400% of a defiict stimulated GDP

Our cities, counties and state going broke despite a massive deficit

And the sheep Fools criticize Greek civil servants for retiring at 53?  Many American civil servants can retire at 50 and draw a pension much larger than Greeks.

BEND OVER MY FOOLISH SHEEP....ARE YOU READY FOR THE LUBRICANT AS WE KILL THE INDUSTRIAL AGE?

The FHA will reduce allowable seller concessions — the percentage sellers can take from the sales price of a home to fund closing costs — from 6% to 3%. According to an announcement in January, the current level of 6% exposes the FHA to excess risk by creating incentives for appraisers to increase the value of these homes. The change will take place in “early summer,” according to the FHA, but a spokesperson said no specific date has been set.

ADD THAT TO THIS

In early April, the FHA increased the upfront insurance premiums on FHA-backed loans from 1.75% to 2.25% of the loan amount.

THIS ABOVE WILL ONLY MAKE IT MORE EXPENSIVE AND HARDER TO FINANCE A HOUSE PLACING MORE DOWNWARD PRESSURE ON PRICES GOING FORWORD....WITH 10,000,000 FAMILIES LATE ON MORTGAGE PAYMENTS.....EXPECT SIGNIFICANT DOWNWARD PRESSURE GOING FORWARD.

AMERICA IS NOW MANUFACTURING ABOUT $5 TRILLION DOLLARS OF PUBLIC AND PRIVATE DEBT PER YEAR.....MUCH MORE THAN THE ENTIRE ECONOMY THAN CHINA.........

COULD YOU IMAGINE HOW BIG CHINA'S GDP WOULD BE IF THEY BORROWED ANYWHERE CLOSE TO THAT AMOUNT?

PREPARE FOR MASSIVE CONVULSIONS AW AMERICA AND AMERICANS RUN OUT OF MONEY AND GET CUT OFF FROM CREDIT.....

WHEN YOUR ENTIRE ECONOMY IS DEPENDENT ON CREDIT AND GOVERNMENT SPENDING.....AND YOU CUT OFF CREDIT, THE RESULTS WILL BE VERY CONVULSIVE....EXPECIALLY FOR A SHRINKING INDUSTRIAL ECONOMY POPULATED WITH SO MANY SPOILED SHEEP WHO EXPECT SO MUCH.

Welcome to the Digital Age...it will be exciting.