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The Fed is pumping the US dollar out of existence. Our entire economy is being propped up by the Federal Reserve. Anyone who took Intro to Finance knows when the Fed pumps, the unemployment SHOULD DROP and inflation should rise. Yet, today, unemployment has remained at the same levels and only inflation has risen. The yuan is surging. Economists are shortening the forecast for China to overtake the US as the largest [...] With studies showing home foreclosures hitting blacks and Latinos hardest, the Obama administration’s answer is baffling as well as destructive — to lend them more money, repeating the cycle of easy credit that led to the housing boom and bust. A new AARP report finds that even elderly minorities are facing serious mortgage delinquencies. Fifty-and-over African-Americans, for example, are almost twice as likely to lose their home as older whites. “This crisis [...] JP Morgan Trading Loss May Reach $9 Billion “Losses on JPMorgan Chase’s bungled trade could total as much as $9 billion, far exceeding earlier public estimates, according to people who have been briefed on the situation. When Jamie Dimon, the bank’s chief executive, announced in May that the bank had lost $2 billion in a bet on credit derivatives, he estimated that losses could double within the [...] Since the economic crisis hit America, more than 2.5 million homes have been foreclosed in the US. The impact hasn’t only been financial, but some Americans who have been forced on the streets have decided to take their own lives. Here is our report. Like us and/or follow us: http://twitter.com/RT_America http://www.youtube.com/watch?v=KNcm_ul47u8&feature=youtube_gdata From HUFFPOST: Mitt Romney said the protesters rallying against Bank of America in Charlotte this week are too young “to really understand how the economy works.” “Unfortunately, a lot of young folks haven’t had the opportunity to really understand how the economy works, and what it takes to put people to work in real jobs, and why we have banks, and what banks do,” Romney told WBTV in Charlotte, according to National Journal. “It’s a very understandable [...] Mac Slavo
If there exists a single factor that can put enough pressure on the whole of the American economy and force it to crumble under its own weight, it’s the price the average American pays for gas. Extreme up-side gas price swings have preceded seven of the last eight American recessions, most recently in the summer of 2008 when drivers were forced to pay an all time high [...] Mac Slavo If there exists a single factor that can put enough pressure on the whole of the American economy and force it to crumble under its own weight, it’s the price the average American pays for gas. Extreme up-side gas price swings have preceded seven of the last eight American recessions, most recently in the summer of 2008 when drivers were forced to pay an all time high [...] Despite heavy discounting and pre-Christmas sales to lure spenders, UK November sales fall: Widespread discounting on the High Street failed to stop retail sales falling by 0.4% in November from the month before. Excluding spending on fuel, retail sales fell 0.7% on the month, according the Office for National Statistics. The data revealed that consumers had cut back spending on computers, mobile phones, watches and jewellery, but that clothes sales had [...] Rep. Dennis Cardoza, D-Calif., announced his retirement from Congress this afternoon — and he issued a scathing parting shot at President Obama‘s track record on his way out. In a statement explaining his decision, Cardoza, a leader of the centrist Blue Dog Coalition, said he was “dismayed” by the administration’s “failure to understand and effectively address the current housing foreclosure crisis.” “Home foreclosures are destroying communities and crushing our economy, and the Administration’s inaction [...] Inspired by the events in New York City, protesters begin assembling in several cities across the U.S.
Alastair Good 12:34PM BST 02 Oct 2011
As police arrested hundreds of protesters on the Brooklyn Bridge in New York City, more demonstrations began to spring up across the U.S. In Los Angeles, protesters gathered in front of City Hall and danced on buses with “peace” emblazoned on the side. A smaller protest was held in Chicago’s financial [...] Mortgage industry employees are still signing documents they haven’t read and using fake signatures more than eight months after big banks and mortgage companies promised to stop the illegal practices that led to a nationwide halt of home foreclosures. County officials in at least three states say they have received thousands of mortgage documents with questionable signatures since last fall, suggesting that the practices, known [...]
Alabama Republican Sen. Richard Shelby on Wednesday blasted efforts by federal and state officials to reach a settlement with mortgage servicers over botched foreclosures as a “regulatory shakedown” by the Obama administration that goes far beyond rectifying the damage caused to homeowners. “This proposed settlement appears to be an attempt to advance the administration’s political agenda, rather than an effort to help homeowners who were harmed [...] By Mitt Romney, BH The unemployment rate has just fallen one-tenth of a percent, from 9 percent to 8.9 percent. Of course, it is indeed progress, and it is being celebrated in the White House as such. But the celebrations bring to mind what a wit once said: An “acceptable†level of unemployment means that the government economist to whom it is acceptable still has a [...] I have no problem foreclosing and throwing delinquent people out by the legal OWNER OF THE MORTGAGE. If the banks outsmarted themselves by screwing up the title, then shame on them. There is nothing wrong with the court forcing somebody to prove their claim of ownership. Foreclosing on a house you don’t own is criminal. Foreclosing on a house that there is no mortgage on (its been paid off) is beyond [...] In an effort to rush through thousands of home foreclosures since 2007, Bank of America (BAC), JPMorgan Chase (JPM) and Goldman Sachs (GS) hired anyone from hair stylists to assembly line workers who barely knew what a mortgage was and installed them in “foreclosure expert†jobs with little training, depositions say. Robo-Signers Wanted: No Experience Needed In an effort to rush through thousands of home foreclosures since [...] By SHANNON BEHNKEN | The Tampa Tribune TAMPA – First, the Florida Attorney General’s Office launched an investigation into four of the state’s largest foreclosure firms, alleging made-up paperwork and forged signatures. Then, some of the nation’s largest lenders halted home foreclosures after discovering employees had signed hundreds of thousands of documents without reading them. http://www2.tbo.com/content/2010/oct/07/fired-worker-says-home-foreclosure-firm-forged-doc/news-metro/ Attorneys and staff members forged signatures and changed dates, casually passed around notary stamps, and [...] Ally’s GMAC Mortgage Halts Home Foreclosures in 23 States Ally Financial Inc.’s GMAC Mortgage unit told brokers and agents to halt foreclosures on homeowners in 23 states including Florida, Connecticut and New York. It’s interesting that the article makes no mention of a “why†— I thought that was a standard journalistic question. The only possible “why†present is an implication contained in a quote from the memo sent out to [...] You are supposed to put $1000 down but no worries if you dont have it.  State agencies will grant you $999.33.  The last $0.67 is up to you sucker! http://www.fundmymutualfund.com/2010/09/zero-down-mortgages-restarted-by… When the housing bubble burst, one of the culprits, economists agreed, was exotic mortgages, including those that required little or no money down.  But on a recent evening, Matthew and Hannah Middlebrooke stood in their new $115,000 three-bedroom [...] This morning, I watched the Dow Jones climb into positive territory for about an hour before it slid back down into the negative, even after reports of billions of dollars in merger acquisitions were made public. Such good news should have bolstered the markets, right? Well, it didn’t work out that way and I seriously doubt it will work out that way any time soon. There seems to be no [...] The United States by every measure is hanging on by a thread to its First World status. Saddled by debt, engaged in wars on multiple fronts with a rising police state at home, declining economic productivity, and wild currency fluctuations all threaten America’s future. The general designations of the ranking system for world status date back to the 1950s… Since the Cold War, the definition has [...] We will have all the bad without the good. Here are a few reasons why we will be worse off than our grandfathers during the Great Depression: 1)Technology and Innovation will be destroyed by government overregulation and outsourcing in this depression whereas in the Great Depression, everything was still produced in the USA and there was less regulation and government oversight. 2) Unaccountability of finances and reckless spending through bailouts and handouts [...] #1) According to RealtyTrac, foreclosure filings were reported on 367,056 properties in the month of March. This represented an increase of almost 19 percent from February, and it was also an increase of nearly 8 percent from March 2009. In fact, the number for March 2010 was the highest monthly total since RealtyTrac began issuing its report in January 2005. That is really, really bad news for the real estate [...] |
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36 Reasons Why You Shouldn’t Vote For Obama:
1 – Fast and Furious – Operation Gun Runner
2 – G.E sending 36000 Jobs Overseas,(Obama handpicked G.E. CEO to head his Jobs Committee)
3 – Solyndra
4 – Lightsquared
5 – Increased our deficit over 40% in 2/12 years
6 – The harassment of Gibson Guitars
7 – The Drilling Moratoriums
8 – Soaring FOOD and Gas Prices
9 – NO Shovel Ready Jobs
10 – The Downgrade of America’s credit rating ( First time in American history)
11 [...]