Wednesday, March 23, 2011

The Recovery is Here!! Woohoo!! Where's My Heloc Dough??

Today's new home starts (Feb.) were the worst housing number ever- since they began tracking housing starts in year two (1962) of the Kennedy Administration.

Housing equity lines of credit or heloc's were once the path to riches. This is how American idiots once financed motor homes, diesel trucks, and the wife's Lexus. Unfortunately, one must own a home, or have enough equity in that home- to get a loan. An additional problem is that banks don't have any money with which to hand out those helocs any more. They are relying on the Bernank to just keep printing so that they can buy treasury debt and try to recapitalize with 4% interest. It won't work.

We have no jobs. What jobs are produced- pay dog shit. Nobody is buying new homes. Hell, nobody is buying old homes. Every one's credit sucks. We have wars all over the middle east, a Japanese China Syndrome with a pending concrete party, and some of the worst inflation ever. Check this out.

This is what the FED is going to say when they can no longer lie about inflation. They are going to say, "well yes we are experiencing minor inflation currently but we expect that it will disappear by 2012." That will be the next line of shit that we hear.

The only thing that has disappeared in the last four years' is the American dream, middle class wealth, justice, and the truth. The truth it seems, is whatever these fuckers tell us it is.

Here on Frankenstein Government, I like to think that I can speak the truth. I have no motive to lie. There is no fucking recovery. There is no housing recovery, there are no jobs. The jobs we are getting suck, the benefits suck. The stock market is about to keel the fuck over, the dollar is trading at all time lows against every crappy currency. The President is a crook, liar, and a shitty leader. Congress cannot do it's job because they lack any kind of courage- both personally and collectively. So in a nutshell, we are hosed. This is what I do to cope with a bunch of knuckleheads running the country and a bunch of knuckleheads voting for knuckleheads.

I exercise daily. I buy silver and gold with this worthless paper they keep printing. I ride my motorcycle. I read a lot and I write. I try to spread the word that we have lost control of this country. Truly we have. At some point we will have a complete bankruptcy and collapse which will be fine as long as you are prepared for it. Someday we will have a recovery. Just don't look for it anytime soon.


Anonymous said...

Do you recall that cartoon poster from many years back. An big ass eagle is swooping down on this little mouse. The is standing there giving the finger to the eagle. the caption was: "the Last Great Act of Defiance". That's how I feel.

BTW, explain me shprt selling. When does JP Morgan have to cover those shorts? Never?

Brian said...

They settle accounts in cash with extra premiums. They can't deliver the underlying commodity. Unfortunately, the vast majority of long trades are settled in cash because the holders cannot take delivery.

So yes Jim they have to settle. Every month. They are getting their asses kicked. But they are doing it with free pomo money from the Fed courtesy of American taxpayers. Really.

Unknown said...

What do you mean no jobs. I was down on the river prospecting for gold and after only an hour of work, had about $110 worth of gold. Will sell it on ebay which will pay spot. So, why are all the unemployed working known gold deposits???? Lazy asses.

rawmuse said...

There are jobs a plenty for those who gargle the balls of teh great and magnificent Obama. Thou must gargle them daily, publicly and loudly. If thou doest that, yea, the horn of plenty beckons. Six figure jobs with bennies. Verily I say unto you.

Unknown said...

Thank you, for speaking the truth about this non-recovery. I just got another rejection e-mail today, from another job I was pretty confident about. One rejection of countless. Then again, I live in California, which is ground zero right now for economic sucktitude. I nearly laughed out loud when I read the front page headline of the local newspaper today:

"Job Markets Roar Back."

I guess in the midst of high criticism of this administration and its policies, the news media is working overtime to put lipstick on a pig. But we know the truth. Despite the fact that I have a B.A., getting a part-time gig at Pizza Hut is an impossibility these days. Keep up the good work, and don't stop exposing the lies of the dark forces that work tirelessly to undermine our great country.