House Prices Globally, Still Have a Long Way To Fall....

House prices are enormously overvalued almost everywhere. As a store of wealth, homes have been a decent place to put your money historically. However, as an investment, they should never be considered as such. Housing here in Hong Kong has been silly for decades. However, prices here have fallen around 30% in some cases, particularly in the very high end. Prices will fall much much more here and probably stay down for a long time.



Looking at the above chart, we can see that in the past 10 years in the US, the price of housing has been in bubble territory. This will definitely return to normal and prices will fall. The big question is what is going to happen to inflation. It seems as if there is very very little risk over the short term that inflation is a problem and there is an actual risk of deflation. Deflation will mean that house prices will fall even more on a nominal basis.

This is why there is a global banking crisis. Banks have lent on the asset values associated with real estate and not on the ability of people to earn money to pay those loans.

Additionally, government policy has been phenomenally poor and has been a primary driver of encouraging excessive speculation in housing in the US. First, by subsidizing mortgages through interest deductibility, housing prices rise since it is the after-tax cost that people look at an consider when one looks at affordability. If there was no tax benefit, then prices would not be able to rise as much a they did since people could not afford to buy houses at these higher prices. Prices would then only rise to levels where transaction can actually take place since houses are not transportable and fungible. So poorly considered tax policy encourages higher prices and more debt on household balance sheets. Just plain stupid. Banks will now adjust their models and less debt will be available to borrowers for housing for the short or intermediate term.

Second, and more importantly to creating a speculative housing bubble was the US Government's involvement in encouraging home ownership among poorer American people. From the phony accusations of 'red-lining' of neighborhoods inhabited by black people back in the 1970's to the Community Reinvestment Act of the Clinton administration, poor lending practices in housing was not only encouraged but forced upon the nations' banks. Additionally, Clinton legislation also forced Freddie Mac and Fannie Mae to hold these securities in order to support lending to sub-prime borrowers. During the 1990's, when banks were consolidating, these institutions were forced to hold a certain amount of sub-prime loans in order to get Justice Department approval for the mergers. Of course, there was never enough of these sub-prime loans in the system since banks had to hold more capital against these loans. So, Wall Street stepped in to fill the need. As housing prices rose, other people used sub-prime loans to speculate on real estate. Since by definition sub-prime is color-blind, I suspect that a lot of non-minorities used these loans to take risks investing in real estate.

And to be very clear, this whole sub-prime mess was an initiative from Democrats and now I understand why there were so many Democrats and former party officials working in senior positions at major Wall Street firms. I used to see Chuck Schumer hanging around the trading floor at Bear Stearns, that was one of the largest dealers in mortgage related securities.

As long as we have government directing economic activity, in this case housing, we will end up with crises such as this.

I Like This Video....

For Finance People......

Question of the day.....

What is the capital of Iceland?

Answer here.

The Barbarians Are At The Gate......

because we have been guided by a Republican administration who believes in this simplistic notion that people who have wealth are entitled to keep it and they have an antipathy towards the means of redistributing wealth.

See, if you earn it its not yours. See, the Democrats think that it is theirs. So they get to dole it out the people that they want to benefit.

Also, I have been hearing that the Dems want Bush to give GM the money that it has asked for, the $25 billion or so that the auto industry has been seeking in government guarantees prior to the Obamessiah taking the helm of the newly activist government. I think that they want this potential disaster to be under the Bush administration but taking credit with the unions for getting it done.

Also, Charles Schumer, the architect of the failures of the mortgage giants Freddie and Fannie is now wanting to push banks into doing more lending. In real language, he wants the direct lending into his favored constituents hands instead of allowing banks to make loans that make sense from an economic standpoint.

If you thought that the last decline in the stock market was bad. Just wait. I predict 8.5% unemployment and sub-par economic growth till these complete morons decide to let the risk takers do their jobs and the people that invest and take this risk are allowed to be the beneficiaries.

You know, in the real world, if someone tries to rob you, one has the right to defend themselves. I believe that this is where we got the 2nd Amendment from. I think that we need to take strong and direct action against those that are intending to rob us. Maybe I should become an American terrorist. My first victim would be Chuck Schumer.

Messianic Feelings....

MSNBC news anchor Chris Matthews said this about Obama...

I have to tell you, you know, it’s part of reporting this case, this election, the feeling most people get when they hear Barack Obama’s speech. My, I felt this thrill going up my leg. I mean, I don’t have that too often. No, seriously. It’s a dramatic event. He speaks about America in a way that has nothing to do with politics. It has to do with the feeling we have about our country. And that is an objective assessment.

This idiot journalist is believed to have had an Obagasm on TV.

Today, I was listening and watching Nancy Pelosi on TV talking about how the American taxpayer is going to bailout the US carmakers to the tune $25 billion. This is just like flushing money down the toilet and is only being considered as payback to the unions. I thought that I too was having a Chris Matthews Obagasm but I realized that I was just peeing on myself.

Obama Withdrawl....

The Obama Swoon.....

So the Dow Jones Industrial average is down 10% over the 2 days since the Obamessiah was elected. I call it the Obama swoon. Its the effect of the promise of higher taxes on savers and earners where people now need to reprice assets lower. The way that this works is that investors want to get a certain after tax return and asset prices adjust to reflect these new realities. So one has to decide to invest in a hostile tax environment and the other choice is to eventually move assets offshore. Corporate taxes are lower and by deploying assets and hiring people offshore, one has a better return profile when considering taxes.

Passage of the Day.....

John McCain's incoherent, C- campaign did not deserve to win the Presidency this year. On the other hand, America doesn't deserve the punishment an Obama presidency is about to inflict upon us. Unfortunately, as a great Democrat once said: Life isn't fair.

John McCain, a genuine American war hero with a long, moderate-to-conservative voting record, has just been trounced by the callowest, least-accomplished, most far-left candidate in modern history. It is important to understand how we got here.

I agree. We don't deserve the punishment that socialism will cost us.

DRE 700 Wins The Race....

Voting Machines Elect One Of Their Own As President

No Surprise Here....

So excited, he came back to vote several times. No shock that this fellow is a negro and speaks ebonics.

Copied. I Do Not Like To Do This. But I am Too Sad Now.......

This is a good synopsis of how government should not be in the business of business. Soviet style intervention into private home ownership is an important part of the failure of the financial system that we experienced over the past several months.

The positives are that government will find it very difficult to meddle in this sector past the short term. Who is going to invest in something that the government essentially overlays its social policy on? Fool me once shame on you. Fool me twice shame on me.

Here is the sad socialist story:

1933-38
President Franklin D. Roosevelt initiated "New Deal" reform programs designed to affect the mortgage market and homeownership. Fannie Mae, the Federal National Mortgage Association, was established to facilitate liquidity among lending institutions.

1968
As part of President Johnson's Great Society reform plan, much of Fannie Mae became a privately owned yet government-chartered company, a government-sponsored enterprise, or GSE. Fannie Mae bought home loans to preserve liquidity in the mortgage market. Though private, it remained backed by the federal government.

1970
President Nixon chartered Freddie Mac, the Federal Home Loan Mortgage Corporation, as a GSE to compete with Fannie Mae.

1977
President Carter, pressed by grass-roots organizations (though opposed by the banking industry) signed the Community Reinvestment Act to boost lending in poorer communities, regardless of the borrowers' ability to repay their home loans.

August 1989
Amid the savings and loan fallout, Congress enacted the Financial Institutions Reform Recovery and Enforcement Act. It mandated public release of lender evaluations and performance ratings, boosting pressure on the banking industry. Such oversight enabled bullying abuses of community organization groups such as ACORN to further influence lending practices.

1990s
Community organizer Barack Obama worked closely with ACORN activists. Employing the intimidation tactics of radical activist Saul Alinsky that Obama had learned and was teaching, activists crowded bank lobbies, blocked drive-up teller lanes and demonstrated at the homes of bankers to browbeat them into risky lending in poor and minority communities. Those who resisted were accused of racism.

At first, the GSEs resisted purchasing risky mortgages. Eventually the Clinton administration instructed them to substantially increase the percentage of these mortgages in their portfolios.

February 1990
Madeline Talbott, a well-known radical ACORN leader and banking industry agitator, challenged the merger of a Chicago thrift, Bell Federal Savings and Loan Association, which responded that it was being bullied into irresponsible "affirmative-action lending policy."

1992
Enforcement of CRA was "sporadic," as the Washington Times notes, until a flawed Federal Reserve Bank of Boston study asserted that there were "substantially higher denial rates for black and Hispanic applicants than for white applicants."

October 1992
Rep. Jim Leach, R-Iowa, warned about the impending danger nonregulated GSEs posed. He worried that Fannie Mae and Freddie Mac were changing "from being agencies of the public at large to money machines for the stockholding few."

Rep. Barney Frank, D-Mass., countered that "the companies served a public purpose. They were in the business of lowering the price of mortgage loans."

November 1994
President Clinton addressed the housing issue: "I am committed to a new and unprecedented partnership between industry leaders and community leaders and government to recommit our nation to the idea of homeownership and to create more homeowners than ever before."

June 1995
Republicans won control of Congress and planned CRA reforms. The Clinton administration, allied with Frank, Sen. Ted Kennedy, D-Mass., and Rep. Maxine Waters, D-Calif., did an end-around by directing HUD Secretary Andrew Cuomo to inject GSEs into the subprime mortgage market.

1997
Cuomo said, "GSE presence in the subprime market could be of significant benefit to lower-income families, minorities and families living in underserved areas."

1998
By falsifying signatures on Fannie Mae accounting transactions, $200 million in expenses was shifted from 1998 to later periods, thereby triggering $27.1 million in bonuses for top executives.

April 1998
HUD announced a $2.1 billion settlement with AccuBanc Mortgage Corp. for alleged discrimination against minority loan applicants. The funds would provide poor families with down payments and low-interest mortgages.

Fall 1999
Treasury Secretary Lawrence Summers issued a warning: "Debates about systemic risk should also now include government-sponsored enterprises, which are large and growing rapidly."

September 1999
With pressure from the Clinton administration, Fannie Mae eased credit requirements on loans it would purchase from lenders, making it easier for banks to lend to borrowers unqualified for conventional loans.

2000
The Senate Banking Committee estimated that, as a result of CRA, $9.5 billion had gone to pay for services and salaries of ACORN and other organizers.

Winter 2000
The City Journal warned that the Clinton administration had turned CRA into "a vast extortion scheme against the nation's banks," committing $1 trillion for mortgages and development projects, most of it funneled through the community organizers.

March 2000
Rep. Richard Baker, R-La., proposed a bill to reform Fannie and Freddie's oversight in a House subcommittee on capital markets. Rep. Frank dismissed the idea, saying concerns about the two were "overblown" and there was "no federal liability there whatsoever."

June 2000
Competitive Enterprise Institute President Fred L. Smith Jr. on the Treasury Department's $2 billion line of credit to Fannie and Freddie: "As long as the pipeline is there, it is like it is very expandable. . . . It is only $2 billion today. It could be $200 billion tomorrow." Because of Democrat obfuscation, Smith's "tomorrow" arrived in 2008, when Treasury Secretary Henry Paulson put Fannie and Freddie into conservatorship.

April 2001
The White House, releasing the 2002 budget, declared that the size of Fannie Mae and Freddie Mac is "a potential problem" because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting federally insured entities and economic activity."

February 2003
Fannie and Freddie's regulator warned that unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market.

June 2003
Freddie Mac reported it had understated its profit by $6.9 billion.

July 2003
Sens. Chuck Hagel, R-Neb., Elizabeth Dole, R-N.C., and John Sununu, R-N.H., introduced legislation to address regulation of Fannie Mae and Freddie Mac. The bill was blocked by Democrats.

September 2003
Treasury Secretary John Snow testified that Congress should enact "legislation to create a new federal agency to regulate and supervise the financial activities of our housing-related government-sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements. But Rep. Frank replied: "I do not think we are facing any kind of a crisis."

October 2003
Fannie Mae disclosed a $1.2 billion accounting error.

November 2003
Greg Mankiw, chairman of the president's Council of Economic Advisers, warned: "The enormous size of the mortgage-backed securities market means that any problems at the GSEs matter for the financial system as a whole. "

September 2004
Regulators reported that Fannie Mae and CEO Franklin Raines had manipulated the agency's accounting to overstate its profit. Fannie Mae ran radio and TV ads ahead of a key Senate committee meeting, depicting a Latino couple who fretted that if the bill passed, mortgage rates would go up. Again, GSE pressure prevailed.

October 2004
Rep. Baker again warned about the coming crisis: "Although their bonds bear the disclaimer 'not backed by the full faith and credit of the U.S. government,' the market does not believe it and looks right past the companies' risk strategies to the taxpayers' pockets."

Rep. Waters said: "Through nearly a dozen hearings . . . we were trying to fix something that wasn't broke. . . . We do not have a crisis at Freddie Mac, and particularly at Fannie Mae, under the outstanding leadership of Mr. Frank Raines."

Rep. Christopher Shays, R-Conn.: "And you have about 3% of your portfolio set aside. If a bank gets below 4%, they are in deep trouble. So I just want you to explain to me why I shouldn't be satisfied with 3%?"

Fannie Mae CEO Raines: "Because . . . there aren't any banks who only have multifamily and single-family loans. These assets are so riskless that their capital for holding them should be under 2%."

January 2005-July 2006
Sen. Hagel, with Sens. Sununu and Dole and later Sen. John McCain, R-Ariz., reintroduced legislation to address GSE regulation.

Fed Chairman Alan Greenspan testified that the size of GSE portfolios "poses a risk to the global financial system. It would be difficult, if not impossible, to bail out the lenders (GSEs) . . . should one get into financial trouble."

January 2006
Greenspan, in a letter to Sens. Sununu, Hagel and Dole, warned that the GSEs' practice of buying their own mortgage-based securities "creates substantial systemic risk while yielding negligible additional benefits for homeowners, renters or mortgage originators."

March 2006
Sens. Sununu and Hagel introduced an amendment to a Lobbying Reform Bill directing GAO to study GSE lobbying and requiring HUD to audit the GSEs annually.

May 2006
After years of Democrats blocking legislation, Sens. Hagel, Sununu, Dole and McCain wrote a letter to Majority Leader Bill Frist demanding that GSE regulatory reform be "enacted this year" to avoid "the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole."

John McCain addressed the Senate: "Mr. President, this week Fannie Mae's regulator reported that the company's quarterly reports of profit growth over the past few years were 'illusions deliberately and systematically created' by the company's senior management.

"Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator's examination of the company's accounting problems. . . . OFHEO's report solidifies my view that the GSEs need to be reformed without delay."

April 2007
Sens. Sununu, Hagel, Dole and Mel Martinez, R-Fla., reintroduced legislation to improve GSE oversight.

The New York Times wrote that the "democratization of credit" is "turning the American dream of homeownership into a nightmare for many borrowers." The "newfangled mortgage loans" — called affordability loans — "represent 60% of foreclosures."

September 2007
President Bush: "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs. . . . The United States Senate needs to pass this legislation soon."

2007-08
The housing bubble began to burst, bad mortgages began to default, and finally the Fannie Mae and Freddie Mac portfolios were revealed to be in collapse. And the testimony is evident as to why.

As Peter Wallison of the American Enterprise Institute put it, "Fannie and Freddie were . . . the poster children for corporate welfare."

September 2008
Rep. Arthur Davis, D-Ala., now admits Democrats were in error: "Like a lot of my Democratic colleagues, I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie: We were wrong."

Today 2008
The narrative is of another failed socialist experiment, this time a massive federal effort imperiling the whole U.S. banking industry.

Top recipients of contributions from Fannie Mae and Freddie Mac since 1989:

• Sen. Christopher Dodd, D-Conn.: $165,400.

• Sen. Barack Obama, D-Ill.: $126,349.

• Rep. Barney Frank, D-Mass.: $42,350.

New Deal, Jimmy Carter, Clinton, Barney Frank. This was just the warning for the Medicare and Social Security mess that the Liberals will have to deal with very very soon. I think that I will just go and slit my wrists.

Unfortunately, I Guess, Its No Longer My Country.....

Hopelessness, whining and entitlement now reigns in the nation known as the USA. Its no longer a country that I can call my country. Its so contrary to my core values, I am now a person without a country. But alas, one cannot quit being an American anyway. Its actually extremely difficult to quit. Like being a Muslim, that punishes apostasy with death to keep people in line, Americans cannot quit being an American since the country wants to tax your poor ass no matter what. If you quit being American, its difficult to reenter the country even if you want to conduct business there. The country is like a heroin addict that needs to lie, cheat and steal to fund its addiction to taking people's money to distribute it to others. Last year, the central government spent and redistribute $2.73 trillion, a staggering sum. I think that we get very little value for this money.

I should have seen this coming years and years ago, as my mother, a pacifist argued with me, most notably during the last presidential election when I was concerned about a rising tendency towards violence by Liberals against Republicans, that violence is understandable since people are scared. It was a jaw dropping and stunning moment for me. She, I suppose, has problems with the nation conducting war against foreigners but apparently is completely comfortable with leftist violence against other Americans since they are 'scared.'

Apparently, according to twisted minds, people are no longer responsible for their own lives and actions and therefore can over-react with violence. In fact, I have read over-and-over that if the Obamessiah had lost this election, that there would be a severe outpouring of violence as Blacks react to this 'racism.' So, to some extent, we have been beholden to this racial threat of violence and terror. Maybe now, I too am fully justified in reacting violently to what I think is unfairness. Maybe I too can physically attack people and destroy places that I feel is unfair to me. Maybe I will just do that.

I mean what I say. And do not call me to discuss.

No Different Now Than It Was Then.....

But the Obamesiah and the bug eating Renfield Democrats are trying to do the exact opposite.

A Letter From the Boss.....

To All My Valued Employees:

There have been some rumblings around the office about the future of this company, and more specifically, your job. As you know, the economy has changed for the worse and presents many challenges. However, the good news is this: The economy doesn't pose a threat to your job. What does threaten your job however, is the changing political landscape in this country.

Of course, as your employer, I am forbidden to tell you whom to vote for - it is against the law to discriminate based on political affiliation, race, creed, religion, etc. Please vote who you think will serve your interests the best.

However, let me tell you some little tidbits of fact which might help you decide what is in your best interests.

First, while it is easy to spew rhetoric that casts employers against employees, you have to understand that for every business owner there is a back story. This back story is often neglected and overshadowed by what you see and hear. Sure, you see me park my Mercedes outside. You've seen my big home at last year?s Christmas party. I'm sure; all these flashy icons of luxury conjure up some idealized thoughts about my life.

However, what you don't see is the back story.

I started this company 12 years ago. At that time, I lived in a 300 square foot studio apartment for 3 years. My entire living apartment was converted into an office so I could put forth 100% effort into building a company, which by the way, would eventually employ you.

My diet consisted of Ramen Pride noodles because every dollar I spent went back into this company. I drove a rusty Toyota Corolla with a defective transmission. I didn't have time to date. Often times, I stayed home on weekends, while my friends went out drinking and partying. In fact, I was married to my business -- hard work, discipline, and sacrifice.

Meanwhile, my friends got jobs. They worked 40 hours a week and made a modest $50K a year and spent every dime they earned. They drove flashy cars and lived in expensive homes and wore fancy designer clothes. Instead of hitting the Nordstrom's for the latest hot fashion item, I was trolling through the Goodwill store extracting any clothing item that didn't look like it was birthed in the 70's. My friends refinanced their mortgages and lived a life of luxury. I, however, did not. I put my time, my money, and my life into a business with a vision that eventually, some day, I too, will be able to afford these luxuries my friends supposedly had.

So, while you physically arrive at the office at 9am, mentally check in at about noon, and then leave at 5pm, I don't. There is no "off" button for me. When you leave the office, you are done and you have a weekend all to yourself. I unfortunately do not have the freedom. I eat, shit, and breathe this company every minute of the day. There is no rest. There is no weekend. There is no happy hour. Every day this business is attached to my hip like a 1 year old special-needs child. You, of course, only see the fruits of that garden -- the nice house, the Mercedes, the vacations... you never realize the back story and the sacrifices I've made.

Now, the economy is falling apart and I, the guy that made all the right decisions and saved his money, have to bail-out all the people who didn't. The people that overspent their paychecks suddenly feel entitled to the same luxuries that I earned and sacrificed a decade of my life for.

Yes, business ownership has is benefits but the price I've paid is steep and without wounds.

Unfortunately, the cost of running this business, and employing you, is starting to eclipse the threshold of marginal benefit and let me tell you why:

I am being taxed to death and the government thinks I don't pay enough. I have state taxes. Federal taxes. Property taxes. Sales and use taxes. Payroll taxes. Workers compensation taxes. Unemployment taxes. Taxes on taxes. I have to hire a tax man to manage all these taxes and then guess what? I have to pay taxes for employing him. Government mandates and regulations and all the accounting that goes with it, now occupy most of my time. On Oct 15th, I wrote a check to the US Treasury for $288,000 for quarterly taxes. You know what my "stimulus" check was? Zero. Nada. Zilch.

The question I have is this: Who is stimulating the economy? Me, the guy who has provided 14 people good paying jobs and serves over 2,200,000 people per year with a flourishing business? Or, the single mother sitting at home pregnant with her fourth child waiting for her next welfare check? Obviously, government feels the latter is the economic stimulus of this country.

The fact is, if I deducted (Read: Stole) 50% of your paycheck you'd quit and you wouldn't work here. I mean, why should you? That's nuts. Who wants to get rewarded only 50% of their hard work? Well, I agree which is why your job is in jeopardy.

Here is what many of you don't understand ... to stimulate the economy you need to stimulate what runs the economy. Had suddenly government mandated to me that I didn't need to pay taxes, guess what? Instead of depositing that $288,000 into the Washington black-hole, I would have spent it, hired more employees, and generated substantial economic growth. My employees would have enjoyed the wealth of that tax cut in the form of promotions and better salaries. But you can forget it now.

When you have a comatose man on the verge of death, you don't defibrillate and shock his thumb thinking that will bring him back to life, do you? Or, do you defibrillate his heart? Business is at the heart of America and always has been. To restart it, you must stimulate it, not kill it. Suddenly, the power brokers in Washington believe the mud of America are the essential drivers of the American economic engine. Nothing could be further from the truth and this is the type of change you can keep.

So where am I going with all this?

It's quite simple.

If any new taxes are levied on me, or my company, my reaction will be swift and simple. I fire you. I fire your co-workers. You can then plead with the government to pay for your mortgage, your SUV, and your child's future. Frankly, it isn't my problem anymore.

Then, I will close this company down, move to another country, and retire. You see, I'm done. I'm done with a country that penalizes the productive and gives to the unproductive. My motivation to work and to provide jobs will be destroyed, and with it, will be my citizenship.

While tax cuts to 95% of America sounds great on paper, don't forget the back story: If there is no job, there is no income to tax. A tax cut on zero dollars is zero

So, when you make your decision to vote, ask yourself, who understands the economics of business ownership and who doesn't? Whose policies will endanger your job?

Answer those questions and you should know who might be the one capable of saving your job. While the media wants to tell you "It's the economy stupid" I'm telling you it isn't.

If you lose your job, it won't be at the hands of the economy; it will be at the hands of a political hurricane that swept through this country, steamrolled the constitution, and will have changed its landscape forever. If that happens, you can find me in the South Caribbean sitting on a beach, retired, and with no employees to worry about.

Signed,

Your Boss

Screw all Democrats. When you can't pay your way as the people that scrimped and saved and built this nation decide that the extra work isn't worth it. Look at the sleazy Democrats. Why don't you just give them all of your money and let these brilliant people distribute it as they see fit. I, for one, will not be a patriot and will not pay my taxes.

Passage of the Day.....

One might also note the entrenched opposition of Democrats around the country to any legislation intended to curb fraudulent voter registration and illegal voting. Democrats protect illegal voters as though they are a core constituency of the party.

Illegal registrations, illegal voters, illegal contributions through intentional disabling of credit card verification proceedures and intimidation of radio and TV stations with lawsuits and license problems for playing opposition ads in such states as Missouri.

It has always been the Democrats that cheat and steal elections. After 8 years, George W. Bush and his win in Florida has never been proven as anything other than a fair election.

If I Ever Mistakenly Wander In......

If I ever mistakenly wander into this town, my eyes would probably melt out of my head. So have a holiday in...... Obama, Japan. Yuck. I rather drink sewage. I hate this guy and I despise all Democrats. Screw them all.

You Know Why Europeans Love the Obamessiah?

Because they want us to be as miserable as they are.

Sophmoric Inexperience.....

After the big gamble on subprime mortgages that led to the current financial crisis, is there going to be an even bigger gamble, by putting the fate of a nation in the hands of a man whose only qualifications are ego and mouth?

Barack Obama has the kind of cocksure confidence that can only be achieved by not achieving anything else.

(Quotes from this piece)Its amazing to me that this guy is even running for President. If he were Caucasian, he would still be in the Illinois State Senate.

If the Obamessiah gets elected, it will mark the end of the greatest nation that ever existed and the beginning of the final chapter in the great experiment of self rule and freedom of the citizens that my nation represented.

It will become even more of a "give me" nation where the most productive will be punished and least productive protected. Kind of reverse evolution. Darwin would be amazed at the attempt to promote the survival of the least fit.....

For someone who has actually accomplished nothing to blithely talk about taking away what has been earned by those who have accomplished something, and give it to whomever he chooses in the name of "spreading the wealth," is the kind of casual arrogance that has led to many economic catastrophes in many countries.

There is never an easy way. All roads are difficult. But the promotion of Barack Obama is the final nail in the coffin of the US. Democrats want to socialize all risk. It started with the New Deal and we never got rid of that dictator. Dictators are rarely overthrown until they completely destroy a nation and bring it to its knees. What we will be left with, like the experience of all communist nations is a mediocrity that will devolve into everyone receiving the lowest common denominator. We will be going to cockroach infested government hospitals in 20 years where the care will be magnitudes worse than the care that is available now. Its a very sad state of affairs and I deeply hate every soul that has and will cast a vote for deeply flawed man and philosophy.

Quote of the Day....

....Obama has presented himself from the start as a messianic, "transformational" leader -- and thus played deceitfully with ideas that belong to religion and not politics. That he has done this so successfully is a mark of the degree to which the U.S. itself, like the rest of the western world, has lost its purchase on the Christian religion. Powerful religious impulses have been spilt, secularized.
....In this climate, people tend to be maniacally opposed to the sin to which they are not tempted: to giving Christ control over the things that are Caesar's. But they are blind to the sin to which they are hugely tempted: giving Caesar control over the things that are Christ's.
...."Faith, hope, and charity" are Christ's things. They apply, properly, outside time -- to a "futurity" that is not of this world. They must not be applied to any earthly utopia. A Caesar who appropriates otherworldly virtues, is riding upon very dangerous illusions. Follow him into dreamland, and you'll be lucky to wake up.

-David Warren, from "Messianic pretensions"-

I Just Absolutely and Totally HATE This Guy....

So, not wanting your assets seized by a feckless central government is selfish?



I also do not want to be hit over the head and the belongings in pocket taken either. Maybe its selfish if we do not want our children sent to work camps. Maybe its selfish not to want to be told what to think and what to believe.

Its not his money. They think that its not your money. Let me alert you, its not the Liberal's money to take to distribute to whom they think should get it. Its not their money to take to pay for healthcare or any other thing that they deem to be worthy or needed. This Liberal thought and 70 years of action since the evil New Deal is the destruction of the American way of life. If these idiots want European socialism, they should move there. France would welcome them with open arms and tell them how smart they are. And how many Liberals are paying the old higher pre-Bush tax rates voluntarily? How about none? Its because they do not want to pay for it., They want others to pay for it.

I think that Americans should refuse to pay taxes. If someone tried to take your money on the street, most would fight back. Its time for a new Boston Tea Party. Its time for the people that work and produce to expert their influence against the dead hand of statism. Its time to revolt against these evil people. Its time to realize that its time for another civil war. Time to realize that your brothers, sisters, parents, aunts and uncles may be in fact the enemy, regarded as such and treated as hostile.

I really cannot consider myself an American anymore if it is going this far off track. The Obamessiah is the anti-Christ. Or maybe FDR was. And that evil is now destroying my nation.