If China so much as sneezes, we'll -- to borrow the latest Islamofascist catchphrase -- "wipe them off the map." That's why we have Ohio Class Subs and Los Angeles Class Subs and B2 Bombers with nuclear warheads, in the Pacific, Woof. They keep the Red Chinese honest about Taiwan.
By bringing the fleet home, Ron Paul would ignite WW III.
hno:
Here comes the sheeple indebted and enslaved to their home bailout plan from the socialists....can't wait to flip the bill for people that got stuck home flipping....what a country....mess up and government bails you out and rapes those that didn't go along with the madness
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Democrats to Unveil Foreclosure Plan
Wednesday October 3, 10:55 am ET
By Alan Zibel, AP Business Writer
Democratic Lawmakers to Call on White House to Create Special Mortgage Market Adviser
WASHINGTON (AP) -- Top congressional Democrats will call Wednesday for the Bush Administration to appoint an adviser to coordinate the federal government's response to mounting foreclosures around the country.
The effort by Senate Majority Leader Harry Reid, House Speaker Nancy Pelosi and others is an attempt by Democrats to step up pressure on the White House to respond to the troubles in the housing market.
Democrats have been critical of the Bush administration's response to the mortgage market problems, which started among loans made to borrowers with weak credit and has spread to other loans.
At an 11:30 a.m. press conference, the lawmakers are expected to reiterate calls for more funding to help homeowners avoid foreclosure. To alleviate strain in the mortgage market, they will also ask the Bush administration to further increase the investment portfolio caps for home-loan finance companies Fannie Mae and Freddie Mac.
White House spokesman Tony Fratto rejected the concept of a special adviser, saying the government's housing secretary, Alphonso Jackson, is already attuned to the issue.
"If you want to talk about inaction, you need to look no further than Congress," Fratto said, citing a lack of progress on legislation to reform Fannie Mae and Freddie Mac and overhaul the Federal Housing Administration, which guarantees mortgages for low-income borrowers.
The government last month nudged those caps slightly higher for Fannie Mae, but the action did not go as far as Democrats, or the companies, had hoped.
The Office of Federal Housing Enterprise Oversight, which oversees Fannie Mae and Freddie Mac, in August turned down Fannie Mae's request for a 10 percent lift of the cap on its mortgage investment holdings. But the agency said last month that Fannie Mae and Freddie Mac can take on about 2 percent more debt, setting the portfolio cap for both companies at $735 billion.
In addition, Democrats have backed raising the maximum size of home loans that Fannie Mae and Freddie Mac can buy in high-cost areas such as the Northeast and California above the current limit of $417,000.
Democrats see the government-sponsored mortgage finance giants as a stabilizing force in the mortgage market, especially as foreclosure filings in August more than doubled nationwide from a year-ago and jumped 36 percent from July, according to Irvine, Calif.-based RealtyTrac Inc.
But Republicans have been skeptical about expanding Fannie Mae and Freddie Mac's power, citing the potential risks to the financial system of allowing the mortgage giants to grow further.
Analysts estimate that at least 2 million adjustable-rate mortgages will jump from low initial teaser rates to higher rates this year and next. Steep prepayment penalties have made it difficult for some to get out of their mortgages, and some homeowners can't afford to refinance or even sell their homes.
Bush last month acknowledged "some unsettling times" in the country's troubled housing and credit markets and in August proposed expanding eligibility requirements for refinancing loans guaranteed by the Federal Housing Administration under a new program called FHA Secure.
Critics, however, say the Bush proposals offer only modest relief that would help perhaps 80,000 current homeowners whose mortgages are resetting. That would be a small fraction of the 2 million adjustable rate mortgages scheduled to reset by the end of 2008.
Bush also supports legislation currently pending in Congress that would temporarily change tax law to let homeowners avoid paying taxes on forgiven debt in loans that are being restructured by financial institutions.
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Democrats to Unveil Foreclosure Plan
Wednesday October 3, 10:55 am ET
By Alan Zibel, AP Business Writer
Democratic Lawmakers to Call on White House to Create Special Mortgage Market Adviser
WASHINGTON (AP) -- Top congressional Democrats will call Wednesday for the Bush Administration to appoint an adviser to coordinate the federal government's response to mounting foreclosures around the country.
The effort by Senate Majority Leader Harry Reid, House Speaker Nancy Pelosi and others is an attempt by Democrats to step up pressure on the White House to respond to the troubles in the housing market.
Democrats have been critical of the Bush administration's response to the mortgage market problems, which started among loans made to borrowers with weak credit and has spread to other loans.
At an 11:30 a.m. press conference, the lawmakers are expected to reiterate calls for more funding to help homeowners avoid foreclosure. To alleviate strain in the mortgage market, they will also ask the Bush administration to further increase the investment portfolio caps for home-loan finance companies Fannie Mae and Freddie Mac.
White House spokesman Tony Fratto rejected the concept of a special adviser, saying the government's housing secretary, Alphonso Jackson, is already attuned to the issue.
"If you want to talk about inaction, you need to look no further than Congress," Fratto said, citing a lack of progress on legislation to reform Fannie Mae and Freddie Mac and overhaul the Federal Housing Administration, which guarantees mortgages for low-income borrowers.
The government last month nudged those caps slightly higher for Fannie Mae, but the action did not go as far as Democrats, or the companies, had hoped.
The Office of Federal Housing Enterprise Oversight, which oversees Fannie Mae and Freddie Mac, in August turned down Fannie Mae's request for a 10 percent lift of the cap on its mortgage investment holdings. But the agency said last month that Fannie Mae and Freddie Mac can take on about 2 percent more debt, setting the portfolio cap for both companies at $735 billion.
In addition, Democrats have backed raising the maximum size of home loans that Fannie Mae and Freddie Mac can buy in high-cost areas such as the Northeast and California above the current limit of $417,000.
Democrats see the government-sponsored mortgage finance giants as a stabilizing force in the mortgage market, especially as foreclosure filings in August more than doubled nationwide from a year-ago and jumped 36 percent from July, according to Irvine, Calif.-based RealtyTrac Inc.
But Republicans have been skeptical about expanding Fannie Mae and Freddie Mac's power, citing the potential risks to the financial system of allowing the mortgage giants to grow further.
Analysts estimate that at least 2 million adjustable-rate mortgages will jump from low initial teaser rates to higher rates this year and next. Steep prepayment penalties have made it difficult for some to get out of their mortgages, and some homeowners can't afford to refinance or even sell their homes.
Bush last month acknowledged "some unsettling times" in the country's troubled housing and credit markets and in August proposed expanding eligibility requirements for refinancing loans guaranteed by the Federal Housing Administration under a new program called FHA Secure.
Critics, however, say the Bush proposals offer only modest relief that would help perhaps 80,000 current homeowners whose mortgages are resetting. That would be a small fraction of the 2 million adjustable rate mortgages scheduled to reset by the end of 2008.
Bush also supports legislation currently pending in Congress that would temporarily change tax law to let homeowners avoid paying taxes on forgiven debt in loans that are being restructured by financial institutions.
Oct 1 2007 5:22PM EDT
Poetic Justice in NetBank Implosion
It hasn't got a lot of headlines, but the US has now officially suffered its biggest bank failure since 1993. NetBank had $2.5 billion in assets, and somehow contrived to lose more than $200 million in 2006. Deposits were insured up to the FDIC ceiling of $100,000, and ING Direct is buying $1.5 billion in deposits for $14 million, which works out at about $1,000 $135 per new customer.
Of course, there's always going to be someone with more than $100,000 in deposits. But in this case it's hard to feel a huge amount of sympathy:
Applied Cognetics, a software development and online marketing firm based in Brooklyn, N.Y., has about $1 million in deposits in NetBank...
NetBank customers with accounts exceeding the FDIC limit will become creditors in NetBank's receivership, the FDIC said Friday...
Applied Cognetics bills itself as a one-stop shop for online lead generation and Internet development.
Colthrust and his team - who formed the company after a subprime mortgage lender where they worked was sold - have built the 10-employee company's sales to more than $10 million since it was founded in 2000. Ironically, given that lenders' catering to subprime borrowers have led to a spike in home loan defaults, subprime lead generation software is among the services Applied Cognetics sells.
So Colthrust started a subprime lender, sold it, and then used the proceeds to start a company finding leads for other subprime lenders. He also put all his money in NetBank, which promptly went belly-up in the subprime meltdown. There's some kind of poetic justice there, I think.
Poetic Justice in NetBank Implosion
It hasn't got a lot of headlines, but the US has now officially suffered its biggest bank failure since 1993. NetBank had $2.5 billion in assets, and somehow contrived to lose more than $200 million in 2006. Deposits were insured up to the FDIC ceiling of $100,000, and ING Direct is buying $1.5 billion in deposits for $14 million, which works out at about $1,000 $135 per new customer.
Of course, there's always going to be someone with more than $100,000 in deposits. But in this case it's hard to feel a huge amount of sympathy:
Applied Cognetics, a software development and online marketing firm based in Brooklyn, N.Y., has about $1 million in deposits in NetBank...
NetBank customers with accounts exceeding the FDIC limit will become creditors in NetBank's receivership, the FDIC said Friday...
Applied Cognetics bills itself as a one-stop shop for online lead generation and Internet development.
Colthrust and his team - who formed the company after a subprime mortgage lender where they worked was sold - have built the 10-employee company's sales to more than $10 million since it was founded in 2000. Ironically, given that lenders' catering to subprime borrowers have led to a spike in home loan defaults, subprime lead generation software is among the services Applied Cognetics sells.
So Colthrust started a subprime lender, sold it, and then used the proceeds to start a company finding leads for other subprime lenders. He also put all his money in NetBank, which promptly went belly-up in the subprime meltdown. There's some kind of poetic justice there, I think.
I don't believe in market timing, and I don't have the time to research and manage a portfolio. I simply invest in mutual funds with a good long term track record and managers with a great track record.
American Funds 1yr, 5yr, 10yr & lifetime returns
The American Fund 7.26, 11.38, 8.03, 11.78
Capital World Growth 20.55, 23.19, 12.75, 14.72
Growth Fund of America 14.45, 16.74, 10.96, 15.31
Income Fund of America 7.90, 13.79, 8.41, 12.51
New Economies 17.60, 18.83, 8.04, 12.47
money doubles every six years or less
two Biotechnologies, Biomet & Biogen
two stocks my wife picked, AT&T & Disney
haven't sold anything in over ten years
thats it. any more questions?
You can't even acknowledge that it's a broad based growth
The fact is, scores of mutual funds from many different families and with different investment disciplines yield similar results. I don't even pay attention to the Dow. It could increase or crash, no difference to me. 5 years from now it will be higher than it is today, always has been. Now when I get closer to retirement age, mt attitudes will change.
How about you Woofy? you been shorting everything?
:aktion033
Mee too Wullie. Although the Income Fund has struggled since June a bit. The Capital World fund is tops!
Trowe has some good offerings, like dat no load chit, but since you are a Lonnnnnnnnnnng term holder, you can't beat the American Funds' expense fees, consisten returns, as well as the fund manager tenures.
Thats not really a true statement about the dow being higher every 5 year window, but I understand your idea.
Been long commodity based stocks and have owned one commodity based fund starting over 6 years ago.
Own some federal express shares that ive owned in a roth ira for a number of years.
My largest holding is a silver company named silver standard (SSRI). Too many other mining based companies to list and theyve been mentioned various threads during my time here. Also own some oil trusts that paid double digi t % dividends when I bought them and still are paying hefty. BPT has been one of the solid oil trusts. I did lighten up some on that one to diversify as it became too large in the portfolio since the dividends for that stock were reinvested.
I do position trade here and there. Usually short, once in a while long. When they accelerated the helicopter money drops, lost some money shorting various tech names.
I am currently short (and have been short for months) these three stocks: MCO, PMI, MTG. All 3 more or less related to mortgages and subprime. Have a stop to cover the MCO a few dollars higher than it is now, so may be out of that one soon.
Whatever nominal gains the us market has, most of it will be via inflation, so for at least another decade, commodity based investments should outperform the general equity markets.
Been long commodity based stocks and have owned one commodity based fund starting over 6 years ago.
Own some federal express shares that ive owned in a roth ira for a number of years.
My largest holding is a silver company named silver standard (SSRI). Too many other mining based companies to list and theyve been mentioned various threads during my time here. Also own some oil trusts that paid double digi t % dividends when I bought them and still are paying hefty. BPT has been one of the solid oil trusts. I did lighten up some on that one to diversify as it became too large in the portfolio since the dividends for that stock were reinvested.
I do position trade here and there. Usually short, once in a while long. When they accelerated the helicopter money drops, lost some money shorting various tech names.
I am currently short (and have been short for months) these three stocks: MCO, PMI, MTG. All 3 more or less related to mortgages and subprime. Have a stop to cover the MCO a few dollars higher than it is now, so may be out of that one soon.
Whatever nominal gains the us market has, most of it will be via inflation, so for at least another decade, commodity based investments should outperform the general equity markets.
