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alstry (35.09)

Americans: The Mother Of All Greeks

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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.

6 Comments – Post Your Own

#1) On May 18, 2010 at 8:57 AM, PDTBiotech (92.26) wrote:

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#2) On May 18, 2010 at 9:08 AM, alstry (35.09) wrote:

I know PDT...many will feel this way as they get inserted from behind.....I agree with your sentiments fully as we proceed  to the Digital Age.

More Than 1 in 10 L.A City Employees Make $100,000 or More

hmmm.  LA on the brink of bankruptcy?

Gov. Paterson NY Threatens Cutting 10,000 Jobs

Pfizer to cut 6,000 jobs and shutter eight plants

Update: New York State Ready to Start Closing Parks on Monday

Durham NC School District - 237

Update: Whittier-area school districts CA - 200 Layoff Notices

Alameda School District CA - 130

Coachella Valley School District -225

Clark County NV - Layoffs Likely Today Range from 150 to 500

Update: Jersey City school district - 375 Pink Slips

Hawaii Foreclosures Filing Soar 115% in April 

Update: Brockton school district MA - 430 Pink Slips

THE DIGITAL AGE....IT WILL BE EXCITING....

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#3) On May 18, 2010 at 9:29 AM, mgrondin (< 20) wrote:

That's what happen when you let go of your manufacturing base, spend billions on military bases around the world and let the greed take over everything else.

The military should move into Goldman Sach and all other financials institutions. Believe me if someone screw around with the IRS they will be knocking down your door dragging your girlfriend naked outside your home (they actually really did that not long ago). But those financial guys... They screw around with the people and nobody move.

 Disclosure : I hold put on the spy and the skf. 

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#4) On May 18, 2010 at 9:35 AM, alstry (35.09) wrote:

Things will get very interesting when we shut down the other half of the Industrial Age:

Government and Health Care.

These are the two higher paying segements generating much of the tax receipts.

There will be many sheep not knowing what to do as they rub their backsides.

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#5) On May 18, 2010 at 9:37 AM, outoffocus (22.81) wrote:

Actually I think we more resemble the Ancient Romans.

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#6) On May 18, 2010 at 9:41 AM, alstry (35.09) wrote:

Whatever we resemble.....the Digital Age will be nothing like the Industrial Age.

A trend to austerity.

Less emphsis on material goods.

Greater emphsis on preventative health care.

Healthier lifestyles.

Fewer personal liberties and personal ownership of property.

Greater emphasis on globalization and less on localization.

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