Bush Jr and the Fed reserve bank Nationalize the Housing market. - There is a Chance - tkozy's Blog - Bakersfield.com

Mar 11, 2008 at 09:03 AM : Waiting in...

Waiting in your welfare line.

Mar 11, 2008 at 09:03 AM : The...

The Republican way is welfare for those at the top. The Democratic way is for those at the bottom. I prefer the Democratic way.

Mar 11, 2008 at 09:03 AM : Random. ...

Random.

The most amazing thing is how many Americans wake up every morning. In the same bed they have slept in for decades. And then carry on through the day. Trying to live the dream of the night before. Making believe they are part of the elite and wealthy.

Mar 11, 2008 at 10:03 AM : Making believe they...

Making believe they are part of the elite and wealthy.

So true. Most people will never achieve the kind of wealth they are fighting for. All they are is the mouthpiece for the elite.

When those in the middle class are fighting for a repeal of the estate taxes or an extension of the tax cuts, I want to slap them silly. Wake the hell up you moron sheeple! They will not be impacted by the estate tax, never have and never will. Most of the income tax cuts went to the top 99%.

How many idiots in Bakersfield who listen to Rush, Hannity or Chas McKay (sp?) actually have no health insurance and make less than 100k per year. How many of them are invested in hedge funds or receive most of their income from dividends - the answer is very few, yet they fight for tax cuts for the elite. I have no idea why.

Mar 11, 2008 at 10:03 AM : The US has turned into...

The US has turned into a "Lotto economy." Most people will only get well-off (not wealthy) if they have a lotto-type windfall. But they vote as if that lottery bonanza is just around the corner, and it must be protected from such things as estate taxes.

Most people are *FAR* more likely to have a negative Lotto "win" through unexpected medical bills.

Mar 11, 2008 at 11:03 AM : Random, BB ...

Random, BB

T. Pickens is shorting Crude prices while the neighborhood 401 K handler is telling it's commission paying customer to buy crude/commodities at any cost.

T Bone knows of the Huge reserves in the northern Midwest of America. He knows the USGS will release it's findings within the next month or two. Findings that will prove reserves in the U.S. that exceeds that of the entire middle east. Not counting the reserves in the Bakken fields of Canada.

The price of crude will drop. But your 401 k handler will go on making huge dollars. Selling your crude/commodity holdings.

The middle income 401 K plans taking a bath from commission costs while prices are both going up and down.. Losing any possibility of gaining the Status of the elite and wealthy.

The Bush ownership society is nothing more than a pyramided scheme.

Mar 11, 2008 at 11:03 AM : Glad to see you back.

Glad to see you back.

Mar 11, 2008 at 11:03 AM : Those resources will...

Those resources will *NEVER* be tapped. Because it will cost far too much to produce, and we're about to be broke as a nation.

Mar 11, 2008 at 01:03 PM : Does...

Does anyone know the reasoning behind bailing out mortgage lenders?

Is it fear of bank collapses? If not bailed out, will big bank lenders go down like dominos?

Did Bank of America assume Countrywide's bad sub prime debt and foreclosed properties in a rapidly declining market knowing of an imminent bailout?

What am I missing?

Does this whole housing debacle reek, or what?

Mar 11, 2008 at 02:03 PM : Random, ...

Random,

Bakken field has a payout in 2 months or less. 99% good wells when drilled within 1 mile of a paying well. 93% when over a mile from a paying well. A number of companies reporting over 300 wells with 100% success rate. Horizontal drilling makes this all possible.

The cost to produce in the Bakken filed is comparable TO ANY FIELD IN THE WESTERN HEMISPHERE AND CONSIDERABLY LESS THAN OFF SHORE.

T Bone knows his business. A number of companies have already taken big steps to move to North Dakota. Marathon oil will drill as many as 500 wells in the next couple of years.

With Crude supplies going sky high and demand plummeting. T Bone is going to earn a fortune on his shorting crude oil. He will then invest his earnings into the upper mid west Bakken field.

Estimates are for 500 Billion barrels of crude in the bakken formation. Tripling the current American proven reserves.

Then there are still the oil sands in Colorado and Wyoming that have yet to be counted as proven reserves. American companies have refused to count these as reserves.

Even though Canada has counted them and actually been producing profitably from them for over a decade. Their payout price is about 30 dollars/barrel.

Mar 11, 2008 at 02:03 PM : Sage, The...

Sage,

The immediate concern is the lenders. insurers and hedgefunds that purchased these bad loans..

But when the rate of foreclosure and devaluation of property reaches the levels we are at today. Levels that match those of the great depression. All financial institutions are in trouble.

The elite and wealthy do not keep their money in cash. It is always represented by property (which includes stocks and bonds).

When the values of these impostors to cash wealth decreases uncontrollably. Princes soon become paupers. A study of the Hunt brothers attempt to monopolies the silver market may help you understand.

From http://www.buyandhold.com/bh/en/education/history/2000/hunt_bros.html

In 1973, the Hunt family of Texas, possibly the richest family in America at the time, decided to buy precious metals as a hedge against inflation. Gold could not be held by private citizens at that time, so the Hunts began to buy silver in enormous quantity.

In 1979 the sons of patriarch H.L. Hunt, Nelson Bunker and William Herbert, together with some wealthy Arabs, formed a silver pool. In a short period of time they had amassed more than 200 million ounces of silver, equivalent to half the world's deliverable supply.

When the Hunt's had begun accumulating silver back in 1973 the price was in the $1.95 / ounce range. Early in '79, the price was about $5. Late '79 / early '80 the price was in the $50's, peaking at $54.

Once the silver market was cornered, outsiders joined the chase but a combination of changed trading rules on the New York Metals Market (COMEX) and the intervention of the Federal Reserve put an end to the game. The price began to slide, culminating in a 50% one-day decline on March 27, 1980 as the price plummeted from $21.62 to $10.80.

The collapse of the silver market meant countless losses for speculators. The Hunt brothers declared bankruptcy. By 1987 their liabilities had grown to nearly $2.5 billion against assets of $1.5 billion. In August of 1988 the Hunts were convicted of conspiring to manipulate the market.

Mar 11, 2008 at 02:03 PM : Saber, it's based...

Saber, it's based on the "they're too big/too important to allow them to fail" theory. To which the retort is, "then they should be *PART* of the government, not bailed out by them." It's the Domino Theory again, but this time with logic behind it.

Mar 11, 2008 at 03:03 PM : Random, ...

Random,

The Airlines and trucking companies along with Joe public are failing because of the price of crude. Why won't the Bushies nationalize the Petro industry?

Mar 11, 2008 at 03:03 PM : Yeah Random...

Yeah Random

You and Genhardt

Life is a lottery

Why not just try working hard?

Oh, that's right,,,,,,,,, bitching is soooo much easier

More fun too!

Mar 11, 2008 at 09:03 PM : Justin, ...

Justin,

Your still smoking that heifer waste aren't you..