Posted June 10, 2010 at 12:59 pm
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Filed Under: High Jinks
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Posted June 4, 2010 at 12:28 pm
A priceless and very funny satire of the entire Sovereign Debit Crisis:
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Posted June 2, 2010 at 1:09 am
From The S&A Digest:
“Instead of the house dragging us down, it’s become a life raft… [Foreclosure has] really been a blessing,” Alex Pemberton told the New York Times. Pemberton stopped paying the mortgage on his Florida house last summer. But he’s still living in his house. He’s using the extra cash to invest in his business, take the family out for steaks, and even gamble at the Hard Rock Casino.
And just like failing financial institutions blame short sellers, Pemberton blames the lenders for his inability to afford his mortgage… “They’re all crooks.”
Pemberton’s mother, Wendy Pemberton, has been in default since spring 2008. She refinanced several times to pay for things like a new roof. “The longer I’m in foreclosure, the better,” she said.
Another deadbeat, Jim Tsiogas, is in foreclosure on his home and two rental properties. Like the Pembertons, Tsiogas could afford reduced mortgage payments. But he prefers to save his cash… “I need another year,” he said, “and I’m going to be pretty comfortable.”
It’s sickening, but we encourage you to read this New York Times article.
The people outlined represent much of what’s wrong with the United States. They have no sense of responsibility to honor the commitments they’ve made. They don’t understand a mortgage, or any loan for that matter, is a privilege. If you don’t understand the terms of the loan, don’t borrow the money.
If you can’t afford the interest payments, don’t borrow the money. It’s simple. But scumbag entitlement makes these people think it’s OK to squat on property they don’t own… They’re even hiring attorneys to extend their squatting periods. The attorneys just ask the lenders to prove they own the mortgage in question (most of these mortgages have been sliced and sold across the world).
One Florida attorney has 350 clients in foreclosure and is signing up 10 new clients a week. Not only are these people welching on contracts, they’re also gumming up our court system. And the problem is growing…
Now, 1.7 million U.S. households are in foreclosure. Continue Reading…
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Posted May 26, 2010 at 9:58 am
via RealityZone.com:
The Reality Zone is producing a documentary that explores the murky world of atmospheric geo-engineering, commonly called chemtrails. The title of the program is: What in the World Are They Spraying! and we can tell you with confidence that it will be one of the most important programs you will ever see.
There are plenty of dramatic video clips of chemtrails on the Internet, and your innate intelligence tells you that what you see in the sky with your own eyes is not caused by mere vapor trails from jet aircraft, but no one yet has probed the questions: WHO is doing this and WHY.
All of that is about to change.
After you watch the preview above, about what has been done so far, click here to learn how you can help complete this project….
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Posted May 25, 2010 at 11:24 am
From Simon Black:
( excerpt from today’s SovereignMan.com post)
I’ve met numerous people who are on the jobless roll that have actually turned down employment because they’d rather get paid to do nothing. They make $300/week to surf the Internet all day in their pajamas– where is the motivation to produce?
A recent article from the Detroit News provides some pretty clear numbers on the issue: even in the nation’s hardest hit area, a laid-off landscape worker who makes $12/hour when employed receives nearly as much in after-tax benefits for doing nothing.
Some businesses in the private sector have tried to hire new workers and found that their incentives to work (wages) cannot compete with the government’s incentives to not work (unemployment benefits).
It’s interesting how the social consensus seems to have shifted; in many respects, the stigma of being unemployed is gone (just like the stigma of foreclosure), and the attitude is now “I’m going to milk the system for as long as I can.”
This is troubling. In the United States, many unemployed seem to be totally ignorant of how their benefits are actually funded: the government confiscates wages from the remaining productive workers.
It is as if many unemployed think that President Obama is charging their unemployment benefits to his AMEX card instead… or pulling the money out of his “stash” (thanks to David Galland at Casey Research for providing the audio link).
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Posted May 24, 2010 at 1:36 pm
by Dan Denning:
“You know,” a friend said to us the other night over a drink, “sometimes you come off like a know-it-all smart arse. It’s one thing for you to tell the Chinese they’re doing it all wrong and predict a crash. But you’re bagging out our Prime Minister and you’re not even an Australian. To be honest it’s kind of aggravating and offensive.”
“Good,” we replied.
“How can you say that? Aren’t you worried you’re going to upset your readers? They won’t become customers if they’re angry with you.”
“That’s true. But you probably misunderstand what our business is. I don’t want a customer who’s easily offended by ideas. It’s my job to provoke thought. And you do that by presenting ideas, challenging conventional wisdom, and just thinking harder about things.”
Warming up to our task, and perhaps inspired by a sip of Maker’s Mark, we continued, “When I see someone say something idiotic – or, if you prefer – something I think is totally wrong, I feel compelled to point it out. You have to challenge that stuff when you see it, or else people start to believe it. And once they start to believe it without really thinking about it, the game is up. You become a servile, passive, brain-dead whip dogged to be kicked around and cuffed about the ears by the Welfare State. You’ll be lucky to get a bone.”
The discussion came up because of this quote by the Prime Minister earlier in the week on the radio. He said:
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Posted May 20, 2010 at 11:17 am
by Sherwood Ross:
ANDOVER, MA—The mass media is not telling the entire truth about the Bernie Madoff scandal and that is contributing to the suffering of the victims of the largest investment scandal in history. Massachusetts School of Law Dean Lawrence Velvel ought to know; he’s one of them.
“Let me tell you the things you don’t know,” said Velvel, who has written extensively on the complex subject in books and blogs and hosted several television programs dealing with the Madoff affair.
“The media isn’t telling the whole story because they generally focus only on the very wealthy people who were taken in. But the vast majority of the victims are ordinary people, like you and me, and they are the ones who are now left twisting in the wind. It looks to us like the wealthy are being helped now while the average bloke who put in $500,000 or $750,000 and who needed to use the income in order to live is being hurt.”
Velvel is actively involved in the appeal of a recent federal decision that denied recoveries to thousands of small investors.
“Now every investor is at risk because you don’t know until the whistle is blown that you’ve been investing in a Ponzi scheme. You think you’ve got some protection, but you don’t. That’s because they won’t use your final statement (to determine a settlement). And your final statement is all you have these days now that you don’t get securities anymore.”
Velvel brought up the example of the Federal Depositors Insurance Corporation (FDIC), which is designed to protect bank deposits up to a six-figure amount and insure that people’s hard-earned money and life savings don’t go up in smoke.
“Imagine if you get a statement from your bank every month,” he said. “It’s got on it what you think you’ve got in your account, but then one day someone sends you a letter that says ‘Sorry; the whole thing is worthless. It was a fraud!’”.
That is what happened to those taken in by Madoff. As far back as 2000, Gretchen Morgenson, who writes the Market Watch column in the Sunday New York Times Money and Business section, published an article about the Securities Investor Protection Corporation (SIPC), which was created to be the first line of defense in the event a brokerage firm fails while owing investors cash and assets. Yet nobody did anything about the Madoff fraud despite the rumors all over Wall Street that Madoff’s way of doing business just wasn’t “kosher.” Nobody that is, except for Harry Markopolos, who has subsequently written an expose. There was at least one other financial professional who believed the investors were at risk.
“There was a fellow whom the SEC Inspector General said was a respected hedge fund manager, but his name was kept secret,” said Velvel. “He sent materials to the SEC in 2003, but he was ignored. Lots of other people on Wall Street knew that Madoff wasn’t kosher, including Goldman Sachs. But ordinary people, small investors, knew nothing of this.”
In Velvel’s opinion, some of the biggest financial concerns on Wall Street are also to blame.
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Posted May 14, 2010 at 1:40 pm
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Posted May 13, 2010 at 11:53 am
‘After Edmund de Rothschild’s statement, without basis, at the 4th World Wilderness Congress in 1987, that CO2 is the cause of a non-existent global warming – and that combating it needs money (our money), he founded the World Conservation Bank for this reason. In 1991 its name was changed to The Global Environment Facility (GEF). The purpose of this facility is to lend money to the poorest countries, printed by the IMF out of thin air, and with the guarantee of our governments.
The facility takes wilderness areas with mineral riches as security. The GEF money is then to flow back to our governments as reimbursement for paid loans. I.e. We give away our tax money. For what? When a country cannot repay loans to the GEF it must give up a piece of its territory to the Rothschild banks (GEF, IMF, World Bank) – up to 30% of the Earth are meant.’
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Posted May 11, 2010 at 10:30 pm
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