tag:blogger.com,1999:blog-1207581886255094115.post3338447473631009717..comments2024-02-26T05:51:17.859-05:00Comments on Economic Disconnect: Cheering the Housing Bailout Bill: Wall Street says Thanks Taxpayers!EconomicDisconnecthttp://www.blogger.com/profile/02802078645713106743noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-1207581886255094115.post-45958896252622860962008-05-20T16:09:00.000-04:002008-05-20T16:09:00.000-04:00Kevin and Watchtower,I am with you guys. Financial...Kevin and Watchtower,<BR/><BR/>I am with you guys. Financial Sense is the only commentary making sense at this point. Think eye of the storm guys.<BR/><BR/>GAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-72401930391145961862008-05-20T09:56:00.000-04:002008-05-20T09:56:00.000-04:00Watchtower,Jim Puplava has been right far more the...Watchtower,<BR/><BR/>Jim Puplava has been right far more then he has been wrong in the last 5 6 years I've been following him. I think the election is going to be the tipping point, alto ugh it could be a geo-political or weather related event for that matter. My bet is a sharp turn to the left politically with a tax the rich, protectionist outcome.<BR/><BR/>I've also seen a lot of caparisons to a hurricane and we are in the calm at the center of the eye right now.<BR/><BR/>KevinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-55982076185016259712008-05-19T23:32:00.000-04:002008-05-19T23:32:00.000-04:00GYSC38 degrees can do a lot of damage on a garden,...GYSC<BR/><BR/>38 degrees can do a lot of damage on a garden, there are a lot of plants that can do well at that temperature also though. The wind has been beating the heck out of my gardens with 40 mph today, plus higher temps which causes more water evaporation.<BR/><BR/>The more I see this foolishness coming from DC the more I'm convinced that the US is going to experience an Argentina moment in the not to distant future. It's either that or hyperinflation something has got to give. $20 happy meals anyone?<BR/><BR/>KevinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-3286162868939993402008-05-19T21:44:00.000-04:002008-05-19T21:44:00.000-04:00Gawain,Thanks for the excellent detailed insider i...Gawain,<BR/>Thanks for the excellent detailed insider info. Great stuff. I appreciate real on the job reports. Feel free to give this kind of info. <BR/>Watchtower,<BR/>Good to hear from ya!EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-39766595019619019832008-05-19T21:31:00.000-04:002008-05-19T21:31:00.000-04:00My money is still on Jim Puplava, looks like the c...My money is still on Jim Puplava, looks like the creamy center is in play.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-24780486749335727002008-05-19T20:35:00.000-04:002008-05-19T20:35:00.000-04:00Hey, GYC, why don't you tell us how you really fee...Hey, GYC, why don't you tell us how you really feel?<BR/><BR/>Ha ha. Just busting your chops, man. I couldn't agree more. This whole thing stinks to high heaven.<BR/><BR/>By the way, for the purpose of full disclosure, I sell real estate. My family owns a rather large and successful company down here. My mother is the primary broker, and I am her assistant, or rather her slave.<BR/><BR/>My father passed away several years ago, and I left my teaching position to help my mother run the company. I got my license and started selling real estate right when all these financial sheenanigans were beginning. And frankly I was dumbfounded by it, still am.<BR/><BR/>We deal mostly with repossessed homes. In other words, we list, market and sell homes for Fannie Mae, Freddie Mac, Option One, MGIC, Nation Star, and others. My mother's been doing it for 35 years, and she'll tell you flat out that she's never seen anything the last few years.<BR/><BR/>People buying houses with no money down, rolling over closing costs, moving in with negative equity, then going into foreclosure less than a year later. Unbelievable.<BR/><BR/>We currently have more houses on the market now than at any time in the history of our company. My mother and I will turn over roughly 100+ houses a year. Between the two of us, we have over 40 active listings on the market this month and about 20 more pending contract. That doesn't included the listings of the other six realtors who work in our office. So we're all very busy.<BR/><BR/>Lately, I've been doing historical research for Fannie Mae on certain foreclosures. They're questioning the appraisals done at the time of the sale. I haven't come across one yet that didn't overvalue the home by at least $25,000. In fact, last week I finished one in which the appraiser overvalued the house by $70,000 by using new construction in a country club community thirty miles from the subject!<BR/><BR/>It's fraud, and it's rampant. Lenders, appraisers, brokers,<BR/>the whole system is rife with corruption. And it is teetering on the brink of a total collapse.<BR/><BR/>Not that I expect the government to do anything about it, other than bail out their monied friends and screw the taxpayer. Whatever solution congress comes up with will only make everything worse. That much I know.GawainsGhosthttps://www.blogger.com/profile/16719480047404817864noreply@blogger.com