Mortgage Meltdown

Glenn Beck, 11.30.2010: The Perfect Storm

This writer absolutely has to disagree with Beck's assessment that the 'perfect storm' has just come ashore.  Rather, IMHO, we are currently sitting in the still air of the eye of a Category 10 Financial Hurricane with the more dangerous backside about to hit us.   And yes, the Federal Reserve is still protecting the banks to the detriment of producers.  Please keep that perspective in mind as you watch Beck today. Part 1: (Subsequent segments will be added as they become available.) (more…)
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And You Were Lead To Believe The Mortgage Bubble Had Popped

(Editor's Note: While you watch these videos from 2008, think about what the Obama administration did or did not do to circumvent the coming waves of residential resets and commercial mortgage resets during his first year in office.) Very few people, and none that I know, would be happy to be the bearer of bad news, but this might explain why Tea Party Patriots have been screaming "stop spending money". The second tsunami of the residential mortgage meltdown disaster is about to roll right over us and what is left of our wallets. Amazingly enough, it was covered by '60…
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Americans Like McCain’s Mortgage Plan

So Barack Obama has decided that he does not like John McCain's plan to buy mortgages and help homeowners stay in their homes.  Guess what?  Americans like it.  According to Rasmussen Reports: 52% Favor McCain’s Mortgage Bailout Plan A majority of voters (52%) favor John McCain’s plan for the federal government to buy up distressed mortgages and refinance them so homeowners can stay in their homes, according to a new Rasmussen Reports national telephone survey. Thirty-five percent (35%) oppose the plan. Democrats like McCain’s plan more than Republicans, even though Barack Obama opposes it. Fifty-nine percent (59%) of Democratic voters…
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Wall Street Bailout: Economic Critical Mass Has Been Achieved

It is 12:40 am Pacific time and I am watching the Asian markets drop like a rock and reading articles about European banks being nationalized because our Congress did not get the job done before the Asian Markets opened bolstering some kind of confidence in the markets. The Asian and Europeans markets are off 1-2% as of this writing.  If you want to watch it happen, go here.  Click on "for the text version of this page, click here" to give you streaming text of what each tabbed region is currently doing. According to Reuters in a story titled Bailout…
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