california interest rates

Yesterday was a busy day for us Doom Meisters. Today the landscape is littered with the various CDO corpses that crawled out of various Dark Lagoons. Now the attention of the money magicians turns approve to that pesky business of the FOREX situation. The destabilization of international commerce and finance caused by the dying dollar is causing many cascading events which look unconnected at first but actually are all part of the same system. If we be at all this as if it is Götterdämmerung and the Bifrost Bridge is collapsing and Valhalla is being repossessed by the Frost Giant/dragon. Fafner we can anticipate what will happen next: the Fat Lady Will Sing. The Federal Reserve on Thursday pumped its biggest temporary daily infusion into the U. S banking system since just after the September 11. 2001 attacks as short-term lending rates rose on both sides of the Atlantic. change surface though some news about bank write-downs from riskier investments was not as dismal as some investors had feared underlying strains pushed overnight lending rates up in both the United States and Europe. The banking system collapse that began in 1974 and accelerated in 1987 continues. The seeming health of the international banking system was an illusion. For the measure 35 years the world's financial systems have accumulated vast amounts of debts that can only be discharged one way: by going impoverish. Periodically various study sectors do just that. The International Monetary finance was set up to allow the accumulation of debt in every country simultaneously without crashig by imposing harsh rules if the indebtedness gets out of transfer like it is wont to do in many places. But all this depended upon the top industrialized economic powers staying out of trouble themselves. As we can clearly see these entities which used to watch other lesser more unimportant nation's debt finances desire a hawk go suddenly blind when looking in that good old reflect I spoke about the other day. Humans are by nature unable to see themselves in the mirror. The roots of the Indo-european word. 'mirror' is 'shining lighten.' And it is a very magical word. 'Miracle' and 'mirage' go from the same evince. So does 'smile'. Due to the impossibility of seeing the reality of our own selves in the Mirror of measure and Truth the US. Japan and Europe have chosen to walk drink the path of destruction. Evenn as we comprehend the song of the Fates and Furies collectively everyone refuses to heed this but instead continue forwards. The status quo must be protected! No matter how impossible dangerous and horrible this might be! Understanding the need to change direction doesn't come about unless populate understand the need to change is life and DEATH. The opera cycle begins with a dwarf seeking vast powers stealing the Rhinemaiden's gold. At the same time. Wotan hires giants to build him a great palace. Valhalla. But he tries to victimise them when it comes to closing the deal. He has to pay them or else they boot out him and take the property approve and change it to the dwarf who stole the gold [hahaha]. So to fix this. Wotan goes and steals the gold from the command by tricking him with the sale of ABX list funds. When the dwarf finds out he was cheated he curses the gold. Wotan then gets entangled in this ideological war which causes many deaths. It all ends badly. The only ones happy in the end are the Norns who rule fate and the future and the Rhinemaidens who get their gold approve after WWIII destroys everything. I grew up memorizing this entire Ring cycle in the 1960's. As time passes the horrible connections between this frightful operatic meditation on the destruction of both men and gods echoes ever greater. Hitler for example tried his beat to make this opera real. Indeed the very measure thing the Berliner Philarmonic played in Berlin as the Russians shot rockets at the city was Siegfried's Funeral walk. Back to the futile attempts at the Federal keep back to move the course and prop up Valhalla: it is doomed to failure. The actual collapse of our physical Valhalla the destruction of the World Trade Center the frontal attack on the entire edifice of World Trade and the New World request required huge infusions of funds. Simultaneously the Führer who leads told us to go shopping to redecorate our houses and in command do the beat possible things. The sale of gas guzzling vehicles was encouraged as come up as wild expansion of the housing stock in distant exurbs that demand tremendous commutes using only gas powered vehicles. All the stupidest choices were made. And then made worse for every penny of this expansion from day one was entirely funded by going to Asia for loans and worse going to the Bank of Japan for their eternal carry trade scheme based on come or at that time totally 0% interest loans! At that measure few dared to say. 'This is sheer madness!' Except for a few of us---this is probably why I express emotion as I grind my teeth with rage. I gave plenty of warnings. From day one. Never never should anyone ever go to war and simultaneously increase consumer ascribe. We tried this foolish experiment during the Vietnam War. This lead to a huge train wreck which incidentally continues. Far from recovering from that and learning lessons we learned the opposite. Namely that spending wickedly and freely means happy times change surface as we kill. This bizarre notion now has pushed the nation off the cliff. And the free fall won't be fixed by doing more of the same. For the Fed want to KEEP THIS GOING. They want to have us run more war costs pay more on the military AND spend like crazy on consumer goods and real estate! This can't go on for the simple reason wars always cause inflation since they are run by governments and there are only two ways a government can run a war: looting or taxes! We are trying the looting and it doesn't even begin to cover the costs! And we cut taxes at the beginning of these wars. So the entire copy is set to failure. While trying to steal the Ring of Power from the Saddam dwarf all we ended up doing was create this Dragon. Fafner of China. Now the dragon wants to fry us. The news that our Fed is pouring money into the system to keep interest rates low means they are creating more and more inflation. And their conflicting goals and means are driving us into a financial war with China. For the US wants the yuan stronger and instead of holding a huge FOREX keep back in yuan and thus fixing the problem the way the Chinese did we be to do this for free. Our FOREX reserves are pathetic. And all our study trade partners undergo bigger ones than us and this is why the dollar is weak. Our only tool to fix this without FOREX reserves is to raise interest rates yet the Fed is LOWERING them and doing this by debasing the damn dollar. So this means we ordain destroy our entire economic system in request to undergo FAKE LOW RATES that are below the real rate of inflation and already this is hammering the displace half of the US population! A $2 trillion drop off the cliff! The entire concept of 'leveraged investors' should be outlawed. This was done long ago in the dark days of the Great Depression when even fools figured out that people playing gambling games betting of the future should do this only with their own savings not with money made out of thin air and than promises to pay back when things pan out. This cycle of trying to get rich via going into debt is a CLASSIC. Far from being unusual or amazing it is OLD. As old as the concept of 'bonds' and 'fiat money.' Many a king or emperor promised to pay off bonds sold to pay for wars. Then if the loot didn't come in the emperor or king would go impoverish. Then they turn on the Jews and steal them and destroy the ghettos! Even the English did this with great brutality. For example. Edward I spent all his wealth on trying to subdue the ever-rebellious Scots. He won. He also went bankrupt because there was no gold in Scotland. All he got was this big stone which he put under the British Throne. But to pay he turned on his bankers the Jews and divested them of everything and ejected them from Britain. All of them rich or poor. Republican critics of the JEC report. " War at Any Price?," argued that some of its numbers are tendentious. Yes this study has its moments of tendentiousness. But that doesn't undercut the importance of its questions. Consider only this be: Interest costs on Iraq-related debt will be more than $23 billion for fiscal 2008. That sum is almost exactly the amount separating Bush and Congress on spending levels for the entire budget now being debated. Why are the costs of the Iraq war not considered part of our larger calculate consider? On Tuesday. Bush vetoed Congress's $606 billion labor health and education bill because of a $10 billion difference on spending for domestic concerns. But he is asking for a supplemental appropriation of $196 billion for the wars in Iraq and Afghanistan -- an increase of $46 billion over what he sought in October. The US will probably follow this ugly cover in the end which is why I as Mrs. Levy yell about this eat. I don't want it to happen because this endangers my own family as well as millions of Americans. History has many an ugly story to tell. For example when the 4th Crusaders needed funds to pay Venice for displace and passage of war materials they were told to go loot Byzantia to pay for this. So they cheerfully did this. This killed the remaining power of Christian domination of the Middle East for 800 desire years. The effects of this idiotic solution to financial difficulties comfort troubles the earth and may cause WWIII and the destruction of all civilization. Most economic news blogs desire to focus on the near future and many don't like to talk about the darker aspects. Or if they do they won't tie it all in with history sufficiently. My sole cerebrate for writing online is due to my intense interest in WWIII. furnish talked about WWIII yet again this week you know. Since he controls more nuclear bombs than anyone his need to communicate about it is tremendously alarming. Especially since no one in Congress is demanding his clutch for doing this horrible thing. Or any horrible thing. Instead the US system struggles along trying to make things bring home the bacon even as every indication points towards stopping and changing direction. One of the top actions we can take today is to cease importing vast seas of oil. We must forbid this now. It is destroying our economic base it is blasting our financial systems to hell. Housing is a symptom not a create. It simply reveals that we cannot even afford to live in our own homes and can't afford to pay an honest interest evaluate on money we want to use for purchases. Instead we see a world wherein we must jigger everything so we can keep on truckin'. Only one ABX AAA is over $90 a share which is still running at a loss. 3 ABX BBB indexes have fallen from $100 to $18 and are on the way to vanishing entirely. 13 out of 20 funds undergo lost over 50% of their value and one third of them lost more than 2/3rds their value. After a apprise pause upwards when the central banks and the government pumped money into this dark pool of lost dreams the declines now resume today I believe. An excellent summary of the sub-prime mess. Of cover nearly everyone imagines the money for this simply appeared out of nowhere. But it didn't. The US still requires tip reserves. The ultimate underpinning of this stunning growth in global debt remains outside of US hold back. It is NOT China. China uses most of its savings on building China. It is of cover. Japan. The a-historical rates set by Japan still annoys me to death. I can't believe this is accepted by bankers and pundits nearly universally. And my suspicion is this is due to them profiting from this cheap source of funding. This is why Bush was permitted to cut taxes while the Fed cut interest rates to slightly above the Japanese rates. The US has no call to do this. They even admitted the rates were far below the rate of inflation. Their own charts made this clear. And we are talking fake inflation rates! For nearly 2 years the rate of official re-create inflation ran much higher than the Fed rates. Then the Fed seeing huge inflation building began to frantically raise the rates higher and higher only this crashed the system. This was due to the fact that Japan kept their own rates stubbornly at near zero! So as the Fed raised rates the money pouring out of Japan increased and increased and increased.. across the entire planet! And this fueled planetary inflation that continues. If the Fed drops rates to 0% the Japanese will cease doing this. But this ordain convey the US will be doing this and this will lead to a be collapse of ALL banking systems worse than in 1933! The only way out of this trap is to cut the US trade deficit by cutting our energy imports and to force the Bank of Japan to raise interest rates to at least 2.5%. And neither is happening since no one is talking about doing either. Instead we want China to fix this. Over and over again this flea-bitten drunk of a wizard waves his wand and says. 'Watch me pull a rabbit out of my hat' and out comes a dragon's continue. Note also how this sot blames those naughty home buyers for all this. As if they had ANYTHING to do with it! The Federal Reserve ignores inflation the Treasury lies about inflation and this is the accuse of homeowners? These pathetic clowns who designed this system and administer it are quite content to plop the blame on anyone who had no power over anything. This dishonest accounting is rampant. This is why so many power players can pretend they are victims and not the criminals who created this mess! Every book I construe about past economic collapses one feature is common: the people responsible always belie that no one can figure out what really caused it. Then they all. ALL of the major players ordain tell historians. 'The CONSUMER took on too much debt! It is the fault of them they are the ones who dragged all this down the drain!' China is imitating Japan's strategy. This is classic and we should cease browbeating Asia and simply do the same thing. This is so pathetically simple. Our model of 'free trade' is pure garbage in the first place anyway. Just like we are destroying ourselves trying to belie there is no inflation so it is here. We can't pay our precious diplomatic resources on pretending there is remove trade. This creature is as real as unicorns. We may as well act like capitalists and this means imitating moves of others. This is basic games theory. You bite me. I bite you. You groom me. I educate you. And so on. But we want to do this 'I make up rules and you follow them' which is a dictatorial model that is failing. Note that no one in Asia takes us seriously anymore. China's investment in factories land and other assets in urban areas surged 27% in the first 10 months of the year adding to concerns of a looming bubble in industrial spending and raising pressure on the government to command in investment. More proof I am alter. Japan is NOT building things in Japan. China on the other hand is building in China like crazy. The flow of money to China is due to China building. The US built suburban houses and city sky scrapers but China is building everything including most ominously for us building factories and infrastructure desire train systems for example. This dynamic system can crash of cover. But the crash won't be due to China growing but to the US going bankrupt while Japan shuts down its own sell trade and construction. We can't have the world's #1 and the world's #2 economies going flat simultaneously. Of cover both countries doing this ordain blame China just desire the US leaders destroying our currency like to accuse domiciliate owners in California. Europe is like the US: accustomed to barking orders to those dark skinned or slanty-eyed colonial servants they think all they have to do is alter demands. Well either they pool their half a trillion in FOREX reserves and then start buying and holding yuan or they can force the US and Japan to raise the value of their own currencies! And since barking at the US is like barking at the moon they should buy and hold dollars like China is doing. It is laughably simple only they aren't a nation. They aren't an empire. They don't even like each other. Inside of each other's own countries they dislike each other. So there is no real unity here and the unified currency should either be abandoned or the Europeans must act to follow Germany into forming the 4th Reich. approve to Wagner! HAHAHA. Anyway ordering the Chinese to make their currency more valuable than the yen is pure insanity. Either these dwarves must move Japan's arms hard or shut up. Besides strengthening the yuan won't save the dollar. It will alter the dollar weaker. And so we will soon wave goodbye to both global free trade and monetarism. These defunct and stupid philosophical economic systems were a fool's game from the very go away. The eat in the US starting in the LBJ-Nixon years wasn't fixed by this system. It only made things much worse. Japan’s Financial Services Agency which oversees the nation’s banking and securities industries is working on a plan to be presented before the end of the year aimed at transforming Tokyo into a global financial capital more on par with New York and London. Top Japanese officials have toured protect Street and the City. London’s financial govern in search of the secrets of their vitality.*snip*But for many years the Japanese rather than investing more at home have been putting their money overseas because of the low returns from domestic stocks and bonds. Some of that move of money abroad now appears to be slowing a move reflected in a stronger Japanese yen. That gives resonance to the Japanese hopes of creating a financial district in Tokyo that can lure foreign investment and Western professionals. First. Britain decided to cease being a manufacturing power and became a banking bear on only they allowed this to alter into a bunch of Queen Elizabeth's dominions at various tiny islands to say themselves steal coves and thus sucked away most of the taxable wealth from this central banking. Then the US decided stupidly we too would be the world's banking bear on. With the same results. Now Japan the place where all banking now passes through via the Bank of lacquer creating the 'carry trade' has outsourced its own industry and is now wanting to be what London and NYC are: gambling houses using funny money to compete games of chance. So the world's #1. #2 and #10 [Britain has fallen far hasn't it?] economies are all going to be based on playing money games and making money and speculating on money and this is pure insanity. It can't work. Especially since hyper-growth China is also playing the banking/investment bet with a vengeance! The crux of the problem is that a "short time" in the grand scheme of things often exceeds the professional if not outright lifespan of an individual human. As a result systemic imbalances that can only last for a "bunco time" can seem like permanent good times or the achievement of nirvana to those in the alter time and place in history. It reminds me of an off hand observation that John Perkins makes in "Confessions of an Economic Hitman". He said that while he clearly understood what he was up to and how he was doing it that the later generations did not. In only a decade or so; all the BS reports and theories that he and his generation had published to confirm their bring home the bacon had become accepted as reasonable and proper academic bring home the bacon. Once they were accepted as truly good vs merely a useful deception it was only a matter of time before the same techniques were but to use here at home to enhance the return on every business endeavor imaginable. The shinning path of uniform harmony for North America is purchased on the burden and destruction of the original inhabitants. Never in the history of the earth was such a wide expanse of collaborative opportunity made available for such little investment in blood of conquistadors and oppressors. So lets take a dump on Europeans unable to shake their feudal tendencies the Africans for running scared to captured slavery instead of stoic evisceration and Latin America for being dazed and rocking from endless pummeling from world powers seeking advantage. Why can’t they just rub away their history borders and culture and start anew as Americans had. Truly unworthy of a foot let alone re-create in world affairs. So collaborative effort of disparate groups (i e. Euro Union) is an effort in futility? Should only successful efforts be acknowledged? (Oooh those crafty Chinese so industrious!) Elaine you claim to rally against WWIII but I think you know the key lies more within cooperative efforts desire Euro Union and Chinese diplomacy than picking apart nascent efforts at getting populate looking in the same direction. Particularly when they seem pointless and ineffective. I’m trying to point out that I accept with Jim Willie CB that the Euro/European Union is untested as of yet both as a financial instrument and as a social bonding construct for the Europeans. Bringing up societies who have faced and are facing study challenges in geographical terms such as Africa and South America illustrates how unique the voluntary adoption of the euro is. As the Euro is strengthening against the dollar at the moment it seems disingenuous to encourage the European Union to disassociate because they “Hate� each other. advance it seems that the good old USA is much farther along toward a fascist 4th Reich than the Germans. How exactly is Germany dominating the European Union with fascistic military/industrial social controls? What evidences is there that the German government is organizing its political power structure along these lines? How exactly is Germany going to dominate the European Union in a fascist comprehend when the populations are alert and wary of European Union policies and fully cognizant Germany’s militaristic history? As for the US Civil war bloodily keeping the fragile US together I’m unqualified to venture very far into this but my best understanding is that it was overall a states rights conflict and with the defeat of the Confederacy states rights relating to all states were ceded in majority to the Federal Government. Such a fundamental change would declare that the US wasn’t the same country at all after the Civil War. How would an individual state break itself from the USA when the Civil War abrogated the power to effect such a process fragile or not?

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Yesterday was a busy day for us ordain Meisters. Today the landscape is littered with the various CDO corpses that crawled out of various Dark Lagoons. Now the attention of the money magicians turns approve to that pesky business of the FOREX situation. The destabilization of international commerce and finance caused by the dying dollar is causing many cascading events which look unconnected at first but actually are all part of the same system. If we be at all this as if it is Götterdämmerung and the Bifrost Bridge is collapsing and Valhalla is being repossessed by the cover Giant/dragon. Fafner we can anticipate what will happen next: the Fat Lady Will Sing. The Federal Reserve on Thursday pumped its biggest temporary daily infusion into the U. S banking system since just after the September 11. 2001 attacks as short-term lending rates rose on both sides of the Atlantic. Even though some news about tip write-downs from riskier investments was not as dismal as some investors had feared underlying strains pushed overnight lending rates up in both the United States and Europe. The banking system collapse that began in 1974 and accelerated in 1987 continues. The seeming health of the international banking system was an illusion. For the last 35 years the world's financial systems undergo accumulated vast amounts of debts that can only be discharged one way: by going impoverish. Periodically various major sectors do just that. The International Monetary Fund was set up to allow the accumulation of debt in every country simultaneously without crashig by imposing harsh rules if the indebtedness gets out of hand like it is wont to do in many places. But all this depended upon the top industrialized economic powers staying out of affect themselves. As we can clearly see these entities which used to check other lesser more unimportant nation's debt finances like a hawk go suddenly blind when looking in that good old reflect I spoke about the other day. Humans are by nature unable to see themselves in the mirror. The roots of the Indo-european word. 'mirror' is 'shining light.' And it is a very magical word. 'Miracle' and 'mirage' go from the same evince. So does 'smile'. Due to the impossibility of seeing the reality of our own selves in the Mirror of measure and Truth the US. Japan and Europe undergo chosen to walk down the path of destruction. Evenn as we hear the song of the Fates and Furies collectively everyone refuses to obey this but instead act forwards. The status quo must be protected! No be how impossible dangerous and horrible this might be! Understanding the need to change direction doesn't happen unless people understand the need to change is life and DEATH. The opera cycle begins with a dwarf seeking vast powers stealing the Rhinemaiden's gold. At the same measure. Wotan hires giants to create him a great palace. Valhalla. But he tries to cheat them when it comes to closing the deal. He has to pay them or else they boot out him and take the property back and sell it to the command who stole the gold [hahaha]. So to fix this. Wotan goes and steals the gold from the command by tricking him with the sale of ABX list funds. When the dwarf finds out he was cheated he curses the gold. Wotan then gets entangled in this ideological war which causes many deaths. It all ends badly. The only ones happy in the end are the Norns who rule fate and the future and the Rhinemaidens who get their gold approve after WWIII destroys everything. I grew up memorizing this entire Ring cycle in the 1960's. As measure passes the horrible connections between this frightful operatic meditation on the destruction of both men and gods echoes ever greater. Hitler for example tried his beat to make this opera real. Indeed the very measure thing the Berliner Philarmonic played in Berlin as the Russians shot rockets at the city was Siegfried's Funeral March. Back to the futile attempts at the Federal Reserve to turn the tide and prop up Valhalla: it is doomed to failure. The actual collapse of our physical Valhalla the destruction of the World Trade bear on the frontal contend on the entire edifice of World Trade and the New World Order required huge infusions of funds. Simultaneously the Führer who leads told us to go shopping to redecorate our houses and in command do the worst possible things. The sale of gas guzzling vehicles was encouraged as well as wild expansion of the housing stock in distant exurbs that require tremendous commutes using only gas powered vehicles. All the stupidest choices were made. And then made worse for every penny of this expansion from day one was entirely funded by going to Asia for loans and worse going to the Bank of lacquer for their eternal carry trade scheme based on near or at that time totally 0% interest loans! At that time few dared to say. 'This is sheer madness!' Except for a few of us---this is probably why I laugh as I grind my teeth with rage. I gave plenty of warnings. From day one. Never never should anyone ever go to war and simultaneously increase consumer credit. We tried this foolish investigate during the Vietnam War. This lead to a huge train wreck which incidentally continues. Far from recovering from that and learning lessons we learned the opposite. Namely that spending wickedly and freely means happy times change surface as we kill. This bizarre notion now has pushed the nation off the cliff. And the free fall won't be fixed by doing more of the same. For the Fed be to act THIS GOING. They want to have us run more war costs pay more on the military AND spend like crazy on consumer goods and real estate! This can't go on for the simple reason wars always create inflation since they are run by governments and there are only two ways a government can run a war: looting or taxes! We are trying the looting and it doesn't change surface begin to cover the costs! And we cut taxes at the beginning of these wars. So the entire model is set to failure. While trying to steal the Ring of Power from the Saddam dwarf all we ended up doing was create this Dragon. Fafner of China. Now the dragon wants to fry us. The news that our Fed is pouring money into the system to act interest rates low means they are creating more and more inflation. And their conflicting goals and means are driving us into a financial war with China. For the US wants the yuan stronger and instead of holding a huge FOREX keep back in yuan and thus fixing the problem the way the Chinese did we want to do this for free. Our FOREX reserves are pathetic. And all our major change partners undergo bigger ones than us and this is why the dollar is weak. Our only tool to fix this without FOREX reserves is to increase interest rates yet the Fed is LOWERING them and doing this by debasing the arouse dollar. So this means we will destroy our entire economic system in order to undergo FAKE LOW RATES that are below the real evaluate of inflation and already this is hammering the displace half of the US population! A $2 trillion displace off the cliff! The entire concept of 'leveraged investors' should be outlawed. This was done desire ago in the dark days of the Great Depression when even fools figured out that people playing gambling games betting of the future should do this only with their own savings not with money made out of thin air and than promises to pay back when things pan out. This cycle of trying to get rich via going into debt is a CLASSIC. Far from being unusual or amazing it is OLD. As old as the concept of 'bonds' and 'fiat money.' Many a king or emperor promised to pay off bonds sold to pay for wars. Then if the steal didn't come in the emperor or king would go bankrupt. Then they move on the Jews and loot them and destroy the ghettos! change surface the English did this with great brutality. For example. Edward I spent all his wealth on trying to subdue the ever-rebellious Scots. He won. He also went bankrupt because there was no gold in Scotland. All he got was this big kill which he put under the British Throne. But to pay he turned on his bankers the Jews and divested them of everything and ejected them from Britain. All of them rich or poor. Republican critics of the JEC report. " War at Any Price?," argued that some of its numbers are tendentious. Yes this study has its moments of tendentiousness. But that doesn't undercut the importance of its questions. Consider only this number: arouse costs on Iraq-related debt ordain be more than $23 billion for fiscal 2008. That sum is almost exactly the amount separating Bush and Congress on spending levels for the entire calculate now being debated. Why are the costs of the Iraq war not considered part of our larger calculate debate? On Tuesday. furnish vetoed Congress's $606 billion labor health and education bill because of a $10 billion difference on spending for domestic concerns. But he is asking for a supplemental appropriation of $196 billion for the wars in Iraq and Afghanistan -- an change magnitude of $46 billion over what he sought in October. The US will probably follow this ugly cover in the end which is why I as Mrs. Levy yell about this eat. I don't want it to happen because this endangers my own family as well as millions of Americans. History has many an ugly story to express. For example when the 4th Crusaders needed funds to pay Venice for displace and passage of war materials they were told to go loot Byzantia to pay for this. So they cheerfully did this. This killed the remaining power of Christian domination of the Middle East for 800 desire years. The effects of this idiotic solution to financial difficulties still troubles the earth and may cause WWIII and the destruction of all civilization. Most economic news blogs like to focus on the come future and many don't like to talk about the darker aspects. Or if they do they won't tie it all in with history sufficiently. My sole reason for writing online is due to my intense interest in WWIII. Bush talked about WWIII yet again this week you know. Since he controls more nuclear bombs than anyone his need to talk about it is tremendously alarming. Especially since no one in Congress is demanding his arrest for doing this horrible thing. Or any horrible thing. Instead the US system struggles along trying to make things work change surface as every indication points towards stopping and changing direction. One of the top actions we can take today is to cease importing vast seas of oil. We must stop this now. It is destroying our economic base it is blasting our financial systems to hell. Housing is a symptom not a cause. It simply reveals that we cannot even afford to live in our own homes and can't afford to pay an honest interest evaluate on money we be to use for purchases. Instead we see a world wherein we must jigger everything so we can keep on truckin'. Only one ABX AAA is over $90 a share which is comfort running at a loss. 3 ABX BBB indexes have fallen from $100 to $18 and are on the way to vanishing entirely. 13 out of 20 funds undergo lost over 50% of their value and one third of them lost more than 2/3rds their determine. After a brief pause upwards when the central banks and the government pumped money into this dark pool of lost dreams the declines now resume today I believe. An excellent summary of the sub-prime mess. Of course nearly everyone imagines the money for this simply appeared out of nowhere. But it didn't. The US still requires bank reserves. The ultimate underpinning of this stunning growth in global debt remains outside of US control. It is NOT China. China uses most of its savings on building China. It is of cover. lacquer. The a-historical rates set by lacquer comfort annoys me to death. I can't believe this is accepted by bankers and pundits nearly universally. And my suspicion is this is due to them profiting from this cheap source of funding. This is why furnish was permitted to cut taxes while the Fed cut interest rates to slightly above the Japanese rates. The US has no call to do this. They even admitted the rates were far below the rate of inflation. Their own charts made this alter. And we are talking fake inflation rates! For nearly 2 years the rate of official fake inflation ran much higher than the Fed rates. Then the Fed seeing huge inflation building began to frantically raise the rates higher and higher only this crashed the system. This was due to the fact that lacquer kept their own rates stubbornly at near zero! So as the Fed raised rates the money pouring out of Japan increased and increased and increased.. across the entire planet! And this fueled planetary inflation that continues. If the Fed drops rates to 0% the Japanese will cease doing this. But this ordain mean the US ordain be doing this and this ordain lead to a total collapse of ALL banking systems worse than in 1933! The only way out of this trap is to cut the US change deficit by cutting our energy imports and to force the Bank of Japan to raise interest rates to at least 2.5%. And neither is happening since no one is talking about doing either. Instead we want China to fix this. Over and over again this flea-bitten drunk of a wizard waves his wand and says. 'Watch me pull a rabbit out of my hat' and out comes a dragon's head. Note also how this sot blames those naughty home buyers for all this. As if they had ANYTHING to do with it! The Federal Reserve ignores inflation the Treasury lies about inflation and this is the accuse of homeowners? These pathetic clowns who designed this system and supervise it are quite circumscribe to plop the blame on anyone who had no power over anything. This dishonest accounting is rampant. This is why so many power players can pretend they are victims and not the criminals who created this mess! Every schedule I read about past economic collapses one feature is common: the people responsible always pretend that no one can figure out what really caused it. Then they all. ALL of the study players will tell historians. 'The CONSUMER took on too much debt! It is the fault of them they are the ones who dragged all this down the drain!' China is imitating lacquer's strategy. This is classic and we should cease browbeating Asia and simply do the same thing. This is so pathetically simple. Our model of 'free change' is pure garbage in the first place anyway. Just like we are destroying ourselves trying to belie there is no inflation so it is here. We can't spend our precious diplomatic resources on pretending there is free trade. This creature is as real as unicorns. We may as well act like capitalists and this means imitating moves of others. This is basic games theory. You grip me. I bite you. You groom me. I groom you. And so on. But we be to do this 'I make up rules and you go them' which is a dictatorial model that is failing. Note that no one in Asia takes us seriously anymore. China's investment in factories arrive and other assets in urban areas surged 27% in the first 10 months of the year adding to concerns of a looming breathe in industrial spending and raising compel on the government to rein in investment. More create I am right. Japan is NOT building things in lacquer. China on the other hand is building in China desire crazy. The flow of money to China is due to China building. The US built suburban houses and city sky scrapers but China is building everything including most ominously for us building factories and infrastructure desire train systems for example. This dynamic system can crash of cover. But the crash won't be due to China growing but to the US going bankrupt while Japan shuts down its own retail trade and construction. We can't undergo the world's #1 and the world's #2 economies going flat simultaneously. Of course both countries doing this ordain blame China just desire the US leaders destroying our currency like to blame home owners in California. Europe is desire the US: accustomed to barking orders to those dark skinned or slanty-eyed colonial servants they think all they have to do is alter demands. Well either they pool their half a trillion in FOREX reserves and then start buying and holding yuan or they can compel the US and lacquer to raise the determine of their own currencies! And since barking at the US is desire barking at the moon they should buy and hold dollars like China is doing. It is laughably simple only they aren't a nation. They aren't an empire. They don't change surface desire each other. Inside of each other's own countries they dislike each other. So there is no real unity here and the unified currency should either be abandoned or the Europeans must continue to follow Germany into forming the 4th Reich. Back to Wagner! HAHAHA. Anyway ordering the Chinese to alter their currency more valuable than the yen is pure insanity. Either these dwarves must twist Japan's arms hard or shut up. Besides strengthening the yuan won't deliver the dollar. It ordain alter the dollar weaker. And so we will soon wave goodbye to both global free change and monetarism. These defunct and stupid philosophical economic systems were a fool's game from the very go away. The mess in the US starting in the LBJ-Nixon years wasn't fixed by this system. It only made things much worse. Japan’s Financial Services Agency which oversees the nation’s banking and securities industries is working on a plan to be presented before the end of the year aimed at transforming Tokyo into a global financial capital more on par with New York and London. Top Japanese officials undergo toured protect Street and the City. London’s financial district in examine of the secrets of their vitality.*snip*But for many years the Japanese rather than investing more at home undergo been putting their money overseas because of the low returns from domestic stocks and bonds. Some of that flow of money abroad now appears to be slowing a move reflected in a stronger Japanese yen. That gives resonance to the Japanese hopes of creating a financial govern in Tokyo that can lure foreign investment and Western professionals. First. Britain decided to cease being a manufacturing power and became a banking center only they allowed this to alter into a bunch of Queen Elizabeth's dominions at various tiny islands to declare themselves pirate coves and thus sucked away most of the taxable wealth from this central banking. Then the US decided stupidly we too would be the world's banking bear on. With the same results. Now Japan the place where all banking now passes through via the Bank of Japan creating the 'displace change' has outsourced its own industry and is now wanting to be what London and NYC are: gambling houses using funny money to play games of chance. So the world's #1. #2 and #10 [Britain has fallen far hasn't it?] economies are all going to be based on playing money games and making money and speculating on money and this is pure insanity. It can't work. Especially since hyper-growth China is also playing the banking/investment bet with a vengeance! The crux of the problem is that a "short measure" in the grand scheme of things often exceeds the professional if not outright lifespan of an individual human. As a prove systemic imbalances that can only last for a "short time" can be like permanent good times or the achievement of nirvana to those in the alter measure and place in history. It reminds me of an off transfer observation that John Perkins makes in "Confessions of an Economic Hitman". He said that while he clearly understood what he was up to and how he was doing it that the later generations did not. In only a decade or so; all the BS reports and theories that he and his generation had published to justify their work had become accepted as reasonable and proper academic bring home the bacon. Once they were accepted as truly good vs merely a useful deception it was only a matter of time before the same techniques were but to use here at domiciliate to enhance the return on every business assay imaginable. The shinning path of furnish harmony for North America is purchased on the burden and destruction of the original inhabitants. Never in the history of the earth was such a wide expanse of collaborative opportunity made available for such little investment in daub of conquistadors and oppressors. So lets take a cast aside on Europeans unable to shake their feudal tendencies the Africans for running scared to captured slavery instead of stoic evisceration and Latin America for being dazed and rocking from endless pummeling from world powers seeking favor. Why can’t they just wipe away their history borders and culture and start anew as Americans had. Truly unworthy of a foot let alone stage in world affairs. So collaborative effort of disparate groups (i e. Euro Union) is an effort in futility? Should only successful efforts be acknowledged? (Oooh those crafty Chinese so industrious!) Elaine you affirm to rally against WWIII but I think you know the key lies more within cooperative efforts like Euro Union and Chinese diplomacy than picking apart nascent efforts at getting people looking in the same direction. Particularly when they seem pointless and ineffective. I’m trying to point out that I agree with Jim Willie CB that the Euro/European Union is untested as of yet both as a financial instrument and as a social bonding construct for the Europeans. Bringing up societies who have faced and are facing major challenges in geographical terms such as Africa and South America illustrates how unique the voluntary adoption of the euro is. As the Euro is strengthening against the dollar at the moment it seems disingenuous to back up the European Union to disassociate because they “Hate� each other. Further it seems that the good old USA is much farther along toward a fascist 4th Reich than the Germans. How exactly is Germany dominating the European Union with fascistic military/industrial social controls? What evidences is there that the German government is organizing its political power structure along these lines? How exactly is Germany going to dominate the European Union in a fascist sense when the populations are alert and wary of European Union policies and fully cognizant Germany’s militaristic history? As for the US Civil war bloodily keeping the fragile US together I’m unqualified to venture very far into this but my best understanding is that it was overall a states rights conflict and with the defeat of the Confederacy states rights relating to all states were ceded in majority to the Federal Government. Such a fundamental dress would declare that the US wasn’t the same country at all after the Civil War. How would an individual express break itself from the USA when the Civil War abrogated the cater to effect such a affect fragile or not?

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Yesterday was a work day for us Doom Meisters. Today the landscape is littered with the various CDO corpses that crawled out of various Dark Lagoons. Now the attention of the money magicians turns approve to that pesky business of the FOREX situation. The destabilization of international commerce and finance caused by the dying dollar is causing many cascading events which look unconnected at first but actually are all part of the same system. If we look at all this as if it is Götterdämmerung and the Bifrost Bridge is collapsing and Valhalla is being repossessed by the Frost Giant/dragon. Fafner we can guess what will come about next: the Fat Lady ordain Sing. The Federal keep back on Thursday pumped its biggest temporary daily infusion into the U. S banking system since just after the September 11. 2001 attacks as short-term lending rates rose on both sides of the Atlantic. change surface though some news about bank write-downs from riskier investments was not as dismal as some investors had feared underlying strains pushed overnight lending rates up in both the United States and Europe. The banking system change that began in 1974 and accelerated in 1987 continues. The seeming health of the international banking system was an illusion. For the last 35 years the world's financial systems have accumulated vast amounts of debts that can only be discharged one way: by going bankrupt. Periodically various major sectors do just that. The International Monetary finance was set up to accept the accumulation of debt in every country simultaneously without crashig by imposing harsh rules if the indebtedness gets out of transfer like it is wont to do in many places. But all this depended upon the top industrialized economic powers staying out of trouble themselves. As we can clearly see these entities which used to check other lesser more unimportant nation's debt finances like a hawk go suddenly blind when looking in that good old mirror I spoke about the other day. Humans are by nature unable to see themselves in the reflect. The roots of the Indo-european evince. 'reflect' is 'shining lighten.' And it is a very magical word. 'Miracle' and 'mirage' come from the same word. So does 'smile'. Due to the impossibility of seeing the reality of our own selves in the reflect of Time and Truth the US. Japan and Europe have chosen to go drink the path of destruction. Evenn as we comprehend the song of the Fates and Furies collectively everyone refuses to heed this but instead act forwards. The status quo must be protected! No matter how impossible dangerous and horrible this might be! Understanding the be to change direction doesn't happen unless people understand the be to change is life and DEATH. The opera cycle begins with a dwarf seeking vast powers stealing the Rhinemaiden's gold. At the same measure. Wotan hires giants to create him a great palace. Valhalla. But he tries to cheat them when it comes to closing the deal. He has to pay them or else they boot out him and take the property back and sell it to the dwarf who stole the gold [hahaha]. So to fix this. Wotan goes and steals the gold from the dwarf by tricking him with the sale of ABX index funds. When the dwarf finds out he was cheated he curses the gold. Wotan then gets entangled in this ideological war which causes many deaths. It all ends badly. The only ones happy in the end are the Norns who rule fate and the future and the Rhinemaidens who get their gold approve after WWIII destroys everything. I grew up memorizing this entire Ring cycle in the 1960's. As time passes the horrible connections between this frightful operatic meditation on the destruction of both men and gods echoes ever greater. Hitler for example tried his best to alter this opera real. Indeed the very last thing the Berliner Philarmonic played in Berlin as the Russians shot rockets at the city was Siegfried's Funeral walk. Back to the futile attempts at the Federal Reserve to turn the tide and prop up Valhalla: it is doomed to failure. The actual change of our physical Valhalla the destruction of the World change Center the frontal attack on the entire edifice of World change and the New World request required huge infusions of funds. Simultaneously the Führer who leads told us to go shopping to adorn our houses and in general do the worst possible things. The sale of gas guzzling vehicles was encouraged as well as wild expansion of the housing stock in distant exurbs that require tremendous commutes using only gas powered vehicles. All the stupidest choices were made. And then made worse for every penny of this expansion from day one was entirely funded by going to Asia for loans and worse going to the Bank of Japan for their eternal displace trade scheme based on near or at that time totally 0% interest loans! At that time few dared to say. 'This is sheer madness!' Except for a few of us---this is probably why I express emotion as I grind my teeth with rage. I gave plenty of warnings. From day one. Never never should anyone ever go to war and simultaneously increase consumer credit. We tried this foolish experiment during the Vietnam War. This lead to a huge instruct wreck which incidentally continues. Far from recovering from that and learning lessons we learned the opposite. Namely that spending wickedly and freely means happy times even as we kill. This bizarre notion now has pushed the nation off the cliff. And the remove go won't be fixed by doing more of the same. For the Fed want to KEEP THIS GOING. They want to undergo us run more war costs pay more on the military AND spend desire crazy on consumer goods and real estate! This can't go on for the simple reason wars always cause inflation since they are run by governments and there are only two ways a government can run a war: looting or taxes! We are trying the looting and it doesn't change surface begin to cover the costs! And we cut taxes at the beginning of these wars. So the entire model is set to failure. While trying to steal the Ring of Power from the Saddam dwarf all we ended up doing was create this Dragon. Fafner of China. Now the dragon wants to fry us. The news that our Fed is pouring money into the system to keep interest rates low means they are creating more and more inflation. And their conflicting goals and means are driving us into a financial war with China. For the US wants the yuan stronger and instead of holding a huge FOREX reserve in yuan and thus fixing the problem the way the Chinese did we want to do this for free. Our FOREX reserves are pathetic. And all our study trade partners have bigger ones than us and this is why the dollar is weak. Our only tool to fix this without FOREX reserves is to increase interest rates yet the Fed is LOWERING them and doing this by debasing the damn dollar. So this means we will destroy our entire economic system in order to have FAKE LOW RATES that are below the real rate of inflation and already this is hammering the lower half of the US population! A $2 trillion drop off the cliff! The entire concept of 'leveraged investors' should be outlawed. This was done long ago in the dark days of the Great Depression when even fools figured out that people playing gambling games betting of the future should do this only with their own savings not with money made out of thin air and than promises to pay approve when things pan out. This cycle of trying to get rich via going into debt is a CLASSIC. Far from being unusual or amazing it is OLD. As old as the concept of 'bonds' and 'fiat money.' Many a king or emperor promised to pay off bonds sold to pay for wars. Then if the loot didn't go in the emperor or king would go bankrupt. Then they turn on the Jews and steal them and destroy the ghettos! Even the English did this with great brutality. For example. Edward I spent all his wealth on trying to subdue the ever-rebellious Scots. He won. He also went bankrupt because there was no gold in Scotland. All he got was this big stone which he put under the British govern. But to pay he turned on his bankers the Jews and divested them of everything and ejected them from Britain. All of them rich or poor. Republican critics of the JEC inform. " War at Any determine?," argued that some of its numbers are tendentious. Yes this study has its moments of tendentiousness. But that doesn't sell the importance of its questions. Consider only this number: Interest costs on Iraq-related debt will be more than $23 billion for fiscal 2008. That sum is almost exactly the be separating Bush and Congress on spending levels for the entire calculate now being debated. Why are the costs of the Iraq war not considered part of our larger budget debate? On Tuesday. Bush vetoed Congress's $606 billion labor health and education bill because of a $10 billion difference on spending for domestic concerns. But he is asking for a supplemental appropriation of $196 billion for the wars in Iraq and Afghanistan -- an increase of $46 billion over what he sought in October. The US will probably follow this ugly course in the end which is why I as Mrs. bill yell about this mess. I don't want it to happen because this endangers my own family as well as millions of Americans. History has many an ugly story to tell. For example when the 4th Crusaders needed funds to pay Venice for transport and passage of war materials they were told to go loot Byzantia to pay for this. So they cheerfully did this. This killed the remaining power of Christian domination of the lay East for 800 long years. The effects of this idiotic solution to financial difficulties still troubles the earth and may create WWIII and the destruction of all civilization. Most economic news blogs like to focus on the near future and many don't like to talk about the darker aspects. Or if they do they won't tie it all in with history sufficiently. My sole cerebrate for writing online is due to my intense interest in WWIII. Bush talked about WWIII yet again this week you know. Since he controls more nuclear bombs than anyone his need to talk about it is tremendously alarming. Especially since no one in Congress is demanding his arrest for doing this horrible thing. Or any horrible thing. Instead the US system struggles along trying to make things work change surface as every indication points towards stopping and changing direction. One of the top actions we can take today is to cease importing vast seas of oil. We must stop this now. It is destroying our economic base it is blasting our financial systems to hell. Housing is a symptom not a create. It simply reveals that we cannot even drop to live in our own homes and can't afford to pay an honest interest rate on money we be to use for purchases. Instead we see a world wherein we must jigger everything so we can keep on truckin'. Only one ABX AAA is over $90 a share which is still running at a loss. 3 ABX BBB indexes have fallen from $100 to $18 and are on the way to vanishing entirely. 13 out of 20 funds have lost over 50% of their value and one third of them lost more than 2/3rds their value. After a brief pause upwards when the central banks and the government pumped money into this dark share of lost dreams the declines now resume today I believe. An excellent summary of the sub-prime eat. Of course nearly everyone imagines the money for this simply appeared out of nowhere. But it didn't. The US still requires bank reserves. The ultimate underpinning of this stunning growth in global debt remains outside of US hold back. It is NOT China. China uses most of its savings on building China. It is of cover. Japan. The a-historical rates set by lacquer still annoys me to death. I can't believe this is accepted by bankers and pundits nearly universally. And my suspicion is this is due to them profiting from this cheap source of funding. This is why furnish was permitted to cut taxes while the Fed cut interest rates to slightly above the Japanese rates. The US has no call to do this. They even admitted the rates were far below the rate of inflation. Their own charts made this alter. And we are talking re-create inflation rates! For nearly 2 years the rate of official fake inflation ran much higher than the Fed rates. Then the Fed seeing huge inflation building began to frantically raise the rates higher and higher only this crashed the system. This was due to the fact that Japan kept their own rates stubbornly at near zero! So as the Fed raised rates the money pouring out of Japan increased and increased and increased.. across the entire planet! And this fueled planetary inflation that continues. If the Fed drops rates to 0% the Japanese will cease doing this. But this will mean the US will be doing this and this will bring about to a total collapse of ALL banking systems worse than in 1933! The only way out of this confine is to cut the US trade deficit by cutting our energy imports and to compel the Bank of Japan to raise interest rates to at least 2.5%. And neither is happening since no one is talking about doing either. Instead we be China to fix this. Over and over again this flea-bitten drunk of a wizard waves his wand and says. 'check me pull a hunt out of my hat' and out comes a dragon's head. Note also how this sot blames those naughty domiciliate buyers for all this. As if they had ANYTHING to do with it! The Federal keep back ignores inflation the Treasury lies about inflation and this is the accuse of homeowners? These pathetic clowns who designed this system and supervise it are quite content to plop the blame on anyone who had no power over anything. This dishonest accounting is rampant. This is why so many power players can pretend they are victims and not the criminals who created this mess! Every book I read about past economic collapses one feature is common: the populate responsible always pretend that no one can figure out what really caused it. Then they all. ALL of the major players ordain tell historians. 'The CONSUMER took on too much debt! It is the fault of them they are the ones who dragged all this down the drain!' China is imitating Japan's strategy. This is classic and we should cease browbeating Asia and simply do the same thing. This is so pathetically simple. Our copy of 'free trade' is pure garbage in the first displace anyway. Just like we are destroying ourselves trying to pretend there is no inflation so it is here. We can't spend our precious diplomatic resources on pretending there is remove trade. This creature is as real as unicorns. We may as well act like capitalists and this means imitating moves of others. This is basic games theory. You bite me. I grip you. You groom me. I groom you. And so on. But we want to do this 'I make up rules and you go them' which is a dictatorial copy that is failing. Note that no one in Asia takes us seriously anymore. China's investment in factories land and other assets in urban areas surged 27% in the first 10 months of the year adding to concerns of a looming bubble in industrial spending and raising pressure on the government to rein in investment. More proof I am right. Japan is NOT building things in lacquer. China on the other hand is building in China like crazy. The move of money to China is due to China building. The US built suburban houses and city sky scrapers but China is building everything including most ominously for us building factories and infrastructure like instruct systems for example. This dynamic system can crash of course. But the crash won't be due to China growing but to the US going impoverish while Japan shuts drink its own sell trade and construction. We can't have the world's #1 and the world's #2 economies going flat simultaneously. Of course both countries doing this will accuse China just desire the US leaders destroying our currency like to blame home owners in California. Europe is desire the US: accustomed to barking orders to those dark skinned or slanty-eyed colonial servants they think all they undergo to do is alter demands. Well either they pool their half a trillion in FOREX reserves and then start buying and holding yuan or they can force the US and Japan to raise the value of their own currencies! And since barking at the US is desire barking at the moon they should buy and direct dollars like China is doing. It is laughably simple only they aren't a nation. They aren't an empire. They don't change surface desire each other. Inside of each other's own countries they dislike each other. So there is no real unity here and the unified currency should either be abandoned or the Europeans must continue to follow Germany into forming the 4th Reich. Back to Wagner! HAHAHA. Anyway ordering the Chinese to make their currency more valuable than the yen is pure insanity. Either these dwarves must twist Japan's arms hard or change state up. Besides strengthening the yuan won't save the dollar. It will make the dollar weaker. And so we ordain soon wave goodbye to both global remove trade and monetarism. These defunct and stupid philosophical economic systems were a fool's game from the very go away. The mess in the US starting in the LBJ-Nixon years wasn't fixed by this system. It only made things much worse. Japan’s Financial Services Agency which oversees the nation’s banking and securities industries is working on a plan to be presented before the end of the year aimed at transforming Tokyo into a global financial capital more on par with New York and London. Top Japanese officials have toured Wall Street and the City. London’s financial govern in search of the secrets of their vitality.*snip*But for many years the Japanese rather than investing more at domiciliate have been putting their money overseas because of the low returns from domestic stocks and bonds. Some of that flow of money abroad now appears to be slowing a act reflected in a stronger Japanese yen. That gives resonance to the Japanese hopes of creating a financial district in Tokyo that can provoke foreign investment and Western professionals. First. Britain decided to cease being a manufacturing power and became a banking center only they allowed this to alter into a bunch of Queen Elizabeth's dominions at various tiny islands to declare themselves steal coves and thus sucked away most of the taxable wealth from this central banking. Then the US decided stupidly we too would be the world's banking center. With the same results. Now Japan the displace where all banking now passes through via the Bank of Japan creating the 'carry change' has outsourced its own industry and is now wanting to be what London and NYC are: gambling houses using funny money to play games of chance. So the world's #1. #2 and #10 [Britain has fallen far hasn't it?] economies are all going to be based on playing money games and making money and speculating on money and this is pure insanity. It can't work. Especially since hyper-growth China is also playing the banking/investment bet with a vengeance! The crux of the problem is that a "short measure" in the grand plot of things often exceeds the professional if not outright lifespan of an individual human. As a result systemic imbalances that can only measure for a "short time" can seem desire permanent good times or the achievement of nirvana to those in the right time and place in history. It reminds me of an off transfer observation that John Perkins makes in "Confessions of an Economic Hitman". He said that while he clearly understood what he was up to and how he was doing it that the later generations did not. In only a decade or so; all the BS reports and theories that he and his generation had published to justify their work had become accepted as reasonable and proper academic work. Once they were accepted as truly good vs merely a useful deception it was only a matter of measure before the same techniques were but to use here at home to compound the return on every business endeavor imaginable. The shinning path of furnish harmony for North America is purchased on the burden and destruction of the original inhabitants. Never in the history of the earth was such a wide expanse of collaborative opportunity made available for such little investment in blood of conquistadors and oppressors. So lets take a dump on Europeans unable to move their feudal tendencies the Africans for running scared to captured slavery instead of stoic evisceration and Latin America for being dazed and rocking from endless pummeling from world powers seeking advantage. Why can’t they just wipe away their history borders and grow and go away anew as Americans had. Truly unworthy of a foot let alone stage in world affairs. So collaborative effort of disparate groups (i e. Euro Union) is an effort in futility? Should only successful efforts be acknowledged? (Oooh those crafty Chinese so industrious!) Elaine you claim to collect against WWIII but I think you experience the key lies more within cooperative efforts like Euro Union and Chinese diplomacy than picking apart nascent efforts at getting people looking in the same direction. Particularly when they seem pointless and ineffective. I’m trying to point out that I agree with Jim Willie CB that the Euro/European Union is untested as of yet both as a financial equip and as a social bonding create for the Europeans. Bringing up societies who have faced and are facing major challenges in geographical terms such as Africa and South America illustrates how unique the voluntary adoption of the euro is. As the Euro is strengthening against the dollar at the moment it seems disingenuous to back up the European Union to break because they “Hate� each other. advance it seems that the good old USA is much farther along toward a fascist 4th Reich than the Germans. How exactly is Germany dominating the European Union with fascistic military/industrial social controls? What evidences is there that the German government is organizing its political cater structure along these lines? How exactly is Germany going to act upon the European Union in a fascist sense when the populations are alert and wary of European Union policies and fully cognizant Germany’s militaristic history? As for the US Civil war bloodily keeping the fragile US together I’m unqualified to venture very far into this but my best understanding is that it was overall a states rights conflict and with the defeat of the Confederacy states rights relating to all states were ceded in majority to the Federal Government. Such a fundamental dress would declare that the US wasn’t the same country at all after the Civil War. How would an individual state divorce itself from the USA when the Civil War abrogated the cater to effect such a process fragile or not?

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(newser) – Four big lenders in California undergo agreed to extend low-interest mortgage rates to homeowners on the brink of foreclosure the reports. The lenders worked with Gov. Schwarzenegger on the broach which will apply to subprime borrowers who have made payments on time so far but ordain be unable to do so when the rates jump. • "We can save tens of thousands of people from being added to the foreclosure lists," Schwarzenegger said. The program’s duration is up in the air but it's meant to last through the current crisis even several years said a lenders’ rep. It’s not just a broach for consumers one mortgage exec said: Foreclosures are expensive for lenders too. A domiciliate is advertised for sale at a foreclosure sell in Pasadena. Calif.. Tuesday. Aug. 14. 2007. (AP Photo/Reed Saxon) Source: Associated Press California Governor Arnold Schwarzenegger holds a news conference to back up alternative fuel vehicles Thursday. Nov. 15. 2007 at the Los Angeles Auto Show. (AP Photo/Ric Francis) Source: Associated touch California Gov. Arnold Schwarzenegger laughs during a speach to the Silicon Valley Leadership assort in San Jose. Calif. in this Nov. 2. 2007 register photo. (AP Photo/Paul Sakuma) Source: Associated touch Moderator Lewis Feldman left. Partner. Los Angeles office. Goodwin Procter LLP listens as Angelo Mozilo projected on screen. Chairman and CEO. Countrywide Financial Corp speaks during a adorn discussion on the subprime market fallout Monday. Oct. 29. 2007 in Beverly Hills. Calif. (AP Photo/Ric Francis) Source: Associated Press A home is advertised for sale at a foreclosure auction in Pasadena. Calif.. Tuesday. Aug. 14. 2007. (AP Photo/Reed Saxon) Source: Associated touch

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Welcome to the Legal back up Forums offering free legal help and information on hundreds of legal topics. You are currently viewing our boards as a guest. By joining our free community you ordain undergo find to affix your legal questions communicate privately with other members and access other special features. Registration is fast simple and absolutely free so gratify. ! Interest begins on the day the final judgment is entered. If partial payments are made those payments are first applied to the accrued interest and then to the unpaid principal. For more information analyse out Code of Civil Procedure sections 685.010 to 685.030. To calculate the interest first cause the daily be of interest. For example a $5,000 judgment will accrue $500 of interest per year at a rate of 10%. Dividing $500 by 365 days gives you a daily interest evaluate of $1.37. Now assume that after 145 days the debtor pays you $400. The following computation shows the amount of interest that will accrue after that payment is made:After 145 days. $198.65 (145 days x $1.37/day) of interest ordain undergo accrued on the $5,000 judgment. Out of the debtor's $400 payment pay yourself the accrued interest first. You then will undergo $201.35 left ($400 - $198.65 = $201.35). Now credit the remaining $201.35 against the $5,000 judgment ($5,000 - $201.35 = $4,798.65 of unpaid principal). The new daily interest will then accrue at a rate of $1.31/day ($4,798.65 x 10% = $479.86 ÷ 365). Assume then that 215 days later a $1,700 payment is made. During the 215 days. $281.65 (215 days x $1.31/day) of interest will have accrued. Out of the $1,700 pay yourself the accrued interest first ($1,700 - $281.65 = $1,418.35) leaving $1,418.35 to apply to unpaid principal. Now ascribe the $1,418.35 against the remaining judgment principal of $4,798.65 and we find that $3,380.30 remains unpaid. The new daily interest ordain then accrue at a evaluate of $0.93/day ($3,380.30 x 10% = $338.03 ÷ 365). Information provided in the forum is not intended to substitute for professional advice including but not limited to professional legal advice. If you refer a question or comment it is assumed that you are interested in soliciting receiving or giving general information and not legal advice. Laws vary by state and the laws described in this forum may be different in your state or may have been changed since the information was posted. The legal help offered in this forum comes from volunteers who may not have any formal legal training or knowledge and all information should be confirmed with a qualified legal professional. All information is made available on an "as is" basis. You should accept legal advice only from a licensed legal professional with whom you have an attorney-client relationship. Use of this forum is subject to the ExpertLaw.

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California landscape is among the most beautiful in the country. Likewise homes in California can not be off-key with the post-card scenery. It is true that prices are also different from the rest of the country but to balance that our wise lenders undergo made it so much easier to acquire owe loans with which to purchase them. Just to adjust in come up say that a balloon mortgage is a dance owe divided into two sections of 5 and 25 years or 7 and 23 years. The first part has a low monthly payment and after this period is finished you must pay the sell in full. In many cases there ordain be an option to refinance for the remaining period until the 30 years are covered with higher installments and a slightly higher interest evaluate. A aviate loan has an interest evaluate and fees like any other loan throughout the country. What I mentioned as making things easier in California is in the way of interest rates to begin with. On average you will find a difference of up to 1% on the rates which is not chicken-feed. Apply this to the amount of the mortgage and you have a difference of a few thousand dollars a year. A comfortable 2-bedroom home in Hacienda Heights will be around $500,000 and if the give is for 90% of that then you will be saving 1% of $450,000 alter? Its a nice sum of $4,500 a year. Enough to buy lovely Christmas presents for all the family as well as taking a short winter holiday. Now youre in for a affect: There are no administration or application fees and no points. Fees desire underwriting and processing are kept reasonably low and credit report and enter preparation are very low or even non-existent. That is all. This means that the APR will be very similar to the interest evaluate having less than one tenth of a inform difference. The Federal keep back rates undergo been low since 2003. Some experts say they are bound to stay as they are for quite some measure to come. Others say that nobody really knows where they ordain go to and when. My personal opinion is that they cant go very much displace than they are now so probably it is a good moment for a 7/23 balloon mortgage with the second step financed on a fixed rate normal mortgage give basis. The savings on interest rates ordain amply compensate the fees at the measure of changing over to the back up step of the balloon. Typically. Californian homeownership is around 56% according to a 2006 analyse against nearly 70% of the rest of the country. Wouldnt it be super to act advantage of the current low interest rates before they undergo a come about to leave us behind?

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If you get such a loan you'll pay a higher rate than before. And to add bruise to injury it's taking more time for all mortgages to get approved and funded market experts say. Rancho Palos Verdes marketing consultant Steve Ammons discovered the new jumbo reality after he began shopping for a mortgage on a Manhattan land home that he and his daughter own and rent out. Ammons and his daughter undergo credit scores of 750 to 760 he said Wednesday making them prime borrowers the most creditworthy. What's more the accommodate is worth an estimated $1.6 million and has a current $650,000 mortgage so there is plenty of equity to serve as a modify for the lender. Ammons is looking for a 30-year fixed-rate mortgage but with a move -- the option to pay only the interest on the loan during the first 10 years. Such loans have been widely used by landlords seeking to maximize their cash flows. Ammons said a jumbo loan with an interest-only option that he took out just last year on another rental property had an interest rate of 5.5%. But the story was different this time: A give officer at Washington Mutual Inc quoted him a evaluate of 9.75% saying that the lender "had to rush such high rates so that they could sell off the loans," said Ammons who has since put off refinancing."It's prepare out there," said Doug Duncan chief economist for the Mortgage Bankers Assn. He blamed "the absence of a securitization market," in which lenders change loans and investors buy them in the create of mortgage-backed securities. That merchandise has practically vanished because investors who bought mortgage-backed bonds and other instruments during the housing go feel betrayed by the lenders. protect Street banks and rating firms that teamed to create certify and market supposedly safe securities out of sub-prime loans. object for certain banks that keep large mortgages on their books and charge a premium for that service. "No one's buying mortgage-backed securities that are backed by jumbo loans," Duncan said. Government-sponsored owe pay giants Freddie Mac and Fannie Mae are still buying loans and securitizing them but only if the loan be is $417,000 or less. Anything more is a jumbo give. As investor demand for nonconforming loans has dried up rates on jumbo loans have shot up this month even though rates have declined on smaller loans. As of Friday jumbo borrowers were paying nearly nine-tenths of a percentage inform more than conforming borrowers were according to HSH Associates a Pompton Plains. N. J. mortgage data publisher. This week borrowers were paying a beat percentage point more for jumbos than for smaller loans said Laguna Niguel owe broker Jeff Lazerson. About two-thirds of Lazerson's clients get jumbo loans. In California the median price of a single-family detached domiciliate measure month was $586,030 the California Assn of Realtors said. As a prove to get a conforming give -- one that meets Fannie Mae and Freddie Mac's standards -- a buyer would be a down payment of $169,030 or 29% of the home's value. Plus any kind of payment option such as the ability to pay interest only automatically makes the loan nonconforming regardless of its coat. In a sign of how out of whack things undergo change state the Mortgage Bankers Assn reported Wednesday that 30-year fixed-rate prime loans were averaging 6.41% displace than the 6.51% average for one-year adjustable-rate loans. Adjustable loans normally have lower rates because the ability to define payments makes them less risky for lenders. But because more jumbo loans undergo adjustable rates a jump in jumbo rates lifted the average evaluate on adjustables the lender association said. Beyond jumbo loans the rise in interest rates for other mortgages that don't conform to the standards of Fannie Mae and Freddie Mac has been change surface more pronounced. Lazerson said. For example in the sub-prime market for populate with poor credit fixed-rate mortgages that were in the 7% to 8% be six months ago can still be had but only at 9% to 11%. Lazerson said. And anyone with a ascribe advance under 620 "is now automatically sub-prime," he said. Previously some "alt-A" loans the category between fix and sub-prime were available for borrowers with credit scores as low as 600. Unlike many sub-prime loans the alt-A loans did not undergo prepayment penalties or big jumps in interest rates after two years."These are very spooky times for borrowers trying to find mortgages and even for owe brokers trying to find mortgages off the beaten path," Lazerson said. And because lenders are demanding more documentation of borrowers' financial condition it is taking longer for mortgages to get funded. Duncan said. San Diego mortgage banker John Robbins chairman of the national owe bankers group said he saw hope for the jumbo loan merchandise's recovery. But he said borrowers such as Ammons were going to "have to be patient for a month or two.""This market is going to come back," Robbins said. "For a gentleman like this with a lot of equity in.

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Isn’t it amazing that those folks with bad or marginal ascribe (sub-prime borrowers) who had taken out 95% or higher percentage home loans with variable interest rates are now falling behind in their payments! Who would have ever expected that? Isn’t it somewhat akin to when ‘junk bonds’ collapsed and sank in determine? Hello?? They didn’t label them sub-prime for any other cerebrate that to put the world on notice that they were ‘highly marginal borrowers’ and they called them junk bonds because that is basically what they were … JUNK. Who are the folks who ended up holding all these sub-prime loans and mortgages? They are: {a}investors who bought the ‘securitized’ real estate loans {loans ‘bundled’ into a package as backing for securities that were then sold}. {b} banks and other lenders who provided the owe/loan brokers with the ‘front money’ necessary to alter and then list loans before they were ‘securitized’ or ‘bundled’ and sold to others and {c} avoid funds who bought portfolios of sub-prime loans with borrowed money to leverage their investments. The game has been to buy a $100 million sub-prime portfolio yielding a higher interest rate than the be of the interest on the money that they borrowed to buy the ‘bundle’ thus enabling them to take the ‘move’ in interest. Why were all these folks attracted to the sub-prime merchandise? GREED. The interest rates paid by the not so bright and/or credit worthy borrowers were higher than those available on real estate loans made to more creditworthy borrowers. The age old practice of investment leveraging works only as desire as {a} the money (interest) keeps coming in. {b} the underlying collateral remains solid and {c} everyone ‘keeps the faith’. How did all these sub-prime loans get made? You would have to undergo been living in a cave for the measure several years to undergo not been aware of the non-stop communicate. TV newspaper and internet advertising directed at homeowners. Virtually all of these mortgage/loan hucksters undergo been offering ‘savings’ by offering home refinancing or getting marginal borrowers into a home acquire or providing money to buy real estate that was supposed to rapidly go up in value. Hello?? --- If you refinance and borrow more on your house and make variable interest-only payments for a longer term to lower your monthly payments --- exactly what are you saving? Further if you refinance to pay off accumulated credit separate debt and then run up more ascribe card debt isn’t all of this a self ordained death spiral?What happened over the measure 12 to 24 months is that the rapid escalation in real estate values cooled prices have come down while interest rates have been going up and the inevitable and predictable is taking displace. Those who bought speculative properties now owe more on them than they are worth. They can’t even rent them for enough to cover the debt function. Compounding this is the fact that the public cut in love with the displace sign interest rates offered by variable rates and gobbled them up by the billions. As interest rates have risen so have their payments and now they are having to ‘pay the piper’. Another part of this mix is the creativity of give brokers who created ‘no doc’ loans --- meaning borrowers did not undergo to enter their income finances or other debt and merely had to fill out loan papers. A final decide of crisis was then added with recent revelations of aggressive loan brokers altering borrower applications in order to ‘ram them through the system’ to earn commissions. Now just about everyone has lost faith in the system and is starting to realize that the real estate give collateral behind the securities that undergo been issued and the loan portfolios that have been pledged as collateral are worth a lot less than everyone was told chose to believe or expected. The house of cards is imploding and banks hedge funds investors and other lenders ordain no longer alter on or purchase these ‘less than prime’ real estate loan portfolios. This means give brokers’ employees are being fired at a high rate as give processing grinds to a halt and many of the industry’s players look at bail out acquirers bankruptcy or dramatically downsized operations as a means of either liquidation or survival. You know that things are tough (and getting closer to the end of a make pass) when you read and hear about pleas for the government to free out the idiots who undergo been trapped by their own GREED and STUPIDITY --- referring to virtually all of the players including the borrowers the loan brokers and those who chose to believe that there really was a free eat!What does all of this mean to you and I as the owners of privately owned businesses? It means that money is tightening and ascribe standards are going to be more.

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When you evaluate about it isn’t the whole discussion about a bail-out bargaining? We all know the government is not going to save the millions of overextended homeowners. They couldn’t if they wanted to. Isn’t this one last blow before the merchandise capitulates? I evaluate so. Empathy and compassion are at the core of my spiritual life of all the effed borrowers (FBs) out there. To be it. I be to share with you my meditation on the emotional bargaining of FBs everywhere: The FB Plea… You fence-sitters are failing to fulfill your part of the California. Your failure to continue buying homes is disrupting the and it is causing those of us who bought before you psychological emotional and financial damage. It is time for you to get off the close in and buy — NOW!!! In any social assure you give up something personally for the greater good. When those of us who bought before you purchased our homes we had to commit unrealistic percentages of our income to housing lie on owe applications and act out financing on unstable mortgage terms in request to do our move for the continuing social good. We made these sacrifices willingly because the benefits of maintaining the social contract are worth the determine we paid. Look what those who bought before us received in return: Dramatic increases in wealth through home equity. I think we can all agree this is desirable. You want to be rich don’t you? The ability to pay more than what is earned through productive activities desire bring home the bacon. Think of all the BMWs. Mercedes vacations to Maui. instruct bags designer jeans. Rolex watches and other items purchased with home equity lines of credit. Don’t you want to double your spending power? The ability to buy furniture and home improvements without saving or spending income. Your accommodate should be a self-sustaining asset which provides the ability to maintain itself with perpetual appreciation. Who wouldn’t want that? We provided all of this to the buyers who came before us and all we ask is that you do the same for us. Isn’t this a bring together negociate? Don’t you be the same for yourself? Won’t the next generation of buyers we willing to do the same? Some undergo argued it is our accuse that the social contract is falling apart. If we recent homebuyers had simply made our payments the contract would not undergo been broken. This is rubbish. The lenders failed us. They knew we couldn’t make those payments when we took out the loans. They knew we were lying on our loan applications. They knew The tightening of ascribe just means you will have to make more significant sacrifices to keep the social assure. You may be to acquire money from family members or solicit larger gifts. You may need to become more creative in your attempts to increase your income or assets. All we had to do was write some fraudulent paperwork but you may have to forge some documents or buy a or find a hard-money lender who doesn’t preserve the debt (loan sharks.) It is going to be tough but be at the benefits listed above. Isn’t it worth the sacrifice? It is measure for you to buy now. Trees really can grow to the sky; prices really can go up forever — if you hold up your end of the California Social assure. To paraphrase Winston Churchill, This is your chance to rest up for what is right and bear on a system that is beneficial to our society. History ordain bequeath what you do. Will you be the generation that lived up to its duties or will this be the end of the world as we know it? Prior to the recent unprecedented string of deficits. Kasriel says there have been only seven other years American households have been so upside-down in their finances since 1929. Two of those were during the Great Depression. Three more were just after the end of World War II. Another was in 1955 then again in 1999. That leads to an obvious challenge: If they can’t afford it how are populate continuing to spend as Thursday’s report of retail sales suggested they are continuing to do as if all is well? The say which has become all too obvious in recent weeks and months. Kasriel says: They appear in large part to be borrowing against their homes which will change state less available as a piggy bank going send. “Households are going into debt like never before,” he says. They also undergo been net sellers of stocks. All of this means. Kasriel says that there will be less change for things we desire to buy. ” No region is better represented with ready-to-tell stories than Orange County. Calif. That is where until 2005. Donald Parker owned a large insurance agency. He recalls how low mortgage rates spurred business in late 2001 with refinancings and home-equity lines of ascribe that required proof of insurance. “It really became excessive by the pass of 2004,” he says. “That’s when I started noticing that many of my clients had either refinanced or added a second mortgage or home-equity line of ascribe multiple times within the prior three years often doubling or in some cases tripling their mortgage balances.”He adds that it wasn’t the expansion of mortgage balances that was so alarming. “It was all the new expensive cars being purchased and added on to their auto insurance,” he says. “Often populate were calling to replace a Honda Accord with a new BMW or Mercedes. We were also receiving a lot of phone calls from our customers asking coverage questions: for dilate. ‘Is my new Rolex check covered if I suffer it on pass in Hawaii?’ ”If CPAs and insurance agents are among the first to spot the problems while they are occurring divorce attorneys like Bruce Hughes also of Orange County are among the first to see the actual fallout. “We see it as it happens,” he says. “From industry to industry over the years they go in groups when various industries go through turmoil. Now it’s real estate’s move. I can’t tell you how many owe brokers builders developers and others associated with the building industry undergo go in for a break in the past six months and it’s increasing.” Those not associated with real estate but hurt by the false sense of financial security because of it are no disbelieve next. Calling Stanley Johnson.” I have a family friend who I’ve known for almost twenty years that I have great respect for. He looked me in the approach two years ago and told me inform keep that his secondary condo in Laguna Niguel would never decline from it’s existing $750,000 price tag because demand was too strong to live in that area. The most shocking part of this statement is this friend also has a PHD and warned me about the stock/technology breathe in 1999. I have pity for people that signed these foolish loan docs but they are going to get precisely what they deserve. From 2001 to 2005. I was not participating in the housing ponzi plot … I was building a business. And to think that during that same measure dummies were bidding up real estate to unsustainable levels is just amazing and quite frankly pisses me off. The quicker it’s over they exceed off we’ll all be. I chose to express the housing “social assure” to F. O.! I’m not playing ball until prices go to fundamental supported levels and anyone who doesn’t think that’s going to come about at this.

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