politcal: Big Three Autos -Bailout at expense of Small Business Owner!
- 12/04/08 10:39 PM
Politics as usual in Washington when the big three auto execs talk on the hill. I suspect the cost of all these hearings are going to run in the millions and in the end, the Bush administration is going to force the Democrats to bail them out as a last gesture for future political fodder for the Republicans. If the bailout is to protect the auto workers, read in union, then once again the average citizen is screwed. The point is that no proof has been offered that Americans need 25 or more models of cars. There is an over supply … (0 comments)
politcal: AIG and a few Billion Dollars
- 09/17/08 05:28 AM
This is a reprint of an email sent to me by my good friend Doug Lambe of High Bluff Realty. The next time you hear a politician use theword 'billion' in a casual manner, think aboutwhether you want the 'politicians' spendingYOUR tax money.A billion is a difficult number to comprehend,but one advertising agency did a good job ofputting that figure into some perspective inone of it's releases.AA billion seconds ago it was 1959.BA billion minutes ago Jesus was alive.CA billion hours ago our ancestors wereliving in the Stone Age.DA billion days ago no-one walked on the earth on two feet.E.A billion … (0 comments)
politcal: Poiticians want to put mortgage brokers out of business!
- 09/17/08 03:10 AM
As someone who has seen a number of economic ups and downs over the past few years, this downturn is the worst I've seen. It continues the rise of government regulations and fees. The state of North Carolina has now enacted additional regulations on mortgage brokers and I predict it will be the straw that breaks the camels back. Starting on October 1st 2008 Yield Spread Premiums will not be permitted on sub-prime loans- if the customer only qualifies for that type of loan, the broker will be limited to up front fees. Closing costs must increase for the customer, possibly … (0 comments)
politcal: Realtors may be gone by 2015
- 09/17/08 02:01 AM
Let's look at the past 50 years. Banks have reduced standards for qualifying for a mortgage loan to the point where there is was a minimal amount of funds needed to get into a home. In years past, 15 to 20 percent down payment was needed to qualify. The slow reduction in down payment amounts has corresponded to the rise in credit card use. Why would you want to get 7% or so on a mortgage when upwards to 30% can be achieved? The banks realize that a person with a mortgage is more likely to pay their bills, or even … (1 comments)
politcal: Remember 9/11
- 09/11/08 05:54 AM
Today marks the anniversary of September 11th, 2001, a day when our country was attacked by those that would disagree with our way of life. The people of America, outraged at brutal display of terrorism, responded by removing a government that supported those responsible. Time has moved forward and our Congress and presidential hopefuls debate as to how America should view and be viewed by the world. Citizens are left confused by the massive amount of noise coming from Washington and the media. But we should not forget the simple truths that now make up our world.
The men who … (2 comments)
politcal: Yadkin County Votes No to Alcohol
- 09/10/08 12:13 AM
Yesterday the voters of Yadkin County voted no to a number of alcohol related referendums. With approx. 57% voting down the measures that would have allowed for alcohol sales and the establishment of an ABC store in the county, opponentscited that alcohol would hurt families and many did not approve of its use. The supporters of the measures, which included the business community and the Chamber of Commerce used as their platform the measures would help economic growth by bringing in more restaurants, entertainment, etc. The measure continue to be a hot spot in the county and will certainly be brought up … (0 comments)
politcal: Additional Fallout from Fannie Mae and Freddie Mac Bailout
- 09/10/08 12:02 AM
Most people now know that the federal government has stepped in and taken control of the mortgage entities Fannie Mae and Freddie Mac. What is not known is the results that will come from this action. Many US banks will be forced to write downt their immediate holdings of preferred and common stock of the two giants in that the stock is now worthless. The government takes on the debt and will have to issue a few billion in debt to prop up the entities. Since the government will need to prove to investors that it has a good handle on the … (1 comments)
politcal: Your Utility Bill just got more Expensive!
- 09/02/08 10:17 PM
The US Supreme Court ruled on Monday that the Environmental Protection Agency's refusal to regulate greenhouse gas emissions from cars is "not in accordance with law". The case was narrowly decided by a majority of five to four and is the first high court decision involving global warming.
"The nation's highest court said the EPA "has offered no reasoned explanation" for its refusal to regulate CO2 and other vehicle emissions that contribute to climate change. This is one of the most prominent environmental cases to reach the Supreme Court in decades. It revolves around the US Clean Air Act's statement … (9 comments)
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Politics as usual in Washington when the big three auto execs talk on the hill. I suspect the cost of all these hearings are going to run in the millions and in the end, the Bush administration is going to force the Democrats to bail them out as a last gesture for future political fodder for the Republicans. If the bailout is to protect the auto workers, read in union, then once again the average citizen is screwed.
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