Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
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Maybe you recall that the big banks were forced by a settlement to pay $25 billion for their robo-signing schemes that violated contracts with specific homeowners. The banks paid the governments, not the victims. Do you think the money is now being used to help home owners? If you are that dense, you are dumb [...]
Continue reading →The Economic Collapse Blog runs wonderful articles on bad stuff that is threatening us. I love these articles, because the editor posts links to at least one article that supports his claim. These links are a treasure trove. The editor has a knack for assembling these links into one comprehensive summary. One after another, link [...]
Continue reading →California is the cutting-edge state. Close to bankruptcy, the state’s urban planers are ready to begin the implementation of a truly utopian project: to get Californians to live like Swedes live in Sweden. Like sardines. New rules in the San Francisco Bay area will no longer allow developers to build communities with fewer than 20 [...]
Continue reading →Two years ago, the Government Services Administration sent 300 of its employees on a junket to Las Vegas. It cost over $800,000.This has created a scandal. The real scandal is an annual federal budget of $3.8 trillion. But this is ho-hum news. Voters can understand $800,000. They understand junkets for bureaucrats. So, this story gets [...]
Continue reading →Inflation drove up housing prices, 1965 to 2005. We are going to have more inflation. The real estate bust has made millions of homes available. This has driven down housing prices by 40% in the last five years. Mortgage rates are low. If you lock in a 30-year mortgage at a fixed rate, you can [...]
Continue reading →The man in charge of the Federal Reserve’s infamous “operation Twist” has just announced that he is quitting. At age 41, hardly anyone quits the FED. He is at the New York FED, the privately owned branch that is in charge of executing Federal Reserve policy, His name is Brian Sack. He is the head [...]
Continue reading →The housing crisis began in 2007, escalated in 2008, and became a disaster in 2009. It’s going to begin again. It will be a great time for investors. “We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010,” said Mark Seifert, [...]
Continue reading →My membership sitre, GaryNorth.com, has forums. Subscribers report on many things they have seen or have done. This caught my attention. It was posted on April 2. * * * * * * * * * * * * * * * * * We just returned from the Phoenix area, where we have kids [...]
Continue reading →The Case-Shiller index reveals falling home prices across the nation. The move is relentless. The happy-face press releases by the ever-optimistic National Association of Realtors appear mid-month.The news was bad for February, but the NAR’s economist tried to make things look better. Lawrence Yun, NAR chief economist, said underlying factors are much better compared to [...]
Continue reading →Fannie Mae is out of money again. Every few months, it returns to Congress and asks for more money. The U.S. housing market is a on life support. The few voters who are aware of this don’t care. Most voters don’t know. The two government-owned mortgage companies are bleeding us dry. Fannie Mae burned through [...]
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