Monday, January 28, 2008

HP's Post w/ comments on 60 Minutes Video

60 Minutes does a housing crash report: House of Cards. Now get ready for jingle mail all across America as the gamblers turn in the keys and run


Here's the video

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1 comment:

www.DollarPANIC.blogspot.com said...

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FACEDOWN said,

I love it, Keith. You made that ridiculous pro-Obama post last week and now it appears that your blog has "jumped the shark". Take a look at the republican and democrat nonsense that has been spouted in this thread alone.

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OMG, Facedown hit the nail on the head. This was my favorite blog for years, until that pro-Obama post that made me sick. That post seems to have chased away many of the great old time posters here, and replaced them with butt-f#@king extreme leftists.

With 42% of the workforce getting paid by the public and controlling public opionion via direct control over regulation of the media; WE HAVE A TYRANNY by the so called 'public servants'.

The system is therefore locked into a HYPER-INFLATIONARY CRACK-UP BOOM. Why? Because, the Gov't will be forced increase the volume of FIAT to pay the nominal pension claims. As gov't pensioneers are the 1st receivers of this new money, they will benefit the most as they out-bid the private sector for a diminishing pool of resources.

Why is the pool of resources diminishing? Because: (a) the volume of the workfore is going to drop as the baby-boomers retire, and (b) because of compounding effects of the net oil depletion rate.

For the average Gov't worker, that pension is not going to have the purchasing power that you expect; so it can be expected that you will whine and bitch about inflation destroying your benefits. You will think times are bad, and you will think that the system ripped you off. However, you will be much better off than the private secton (on average).

What Gov't retires should expect is that Year 2008 is going to be a baseline year for purchasing power of gov't pensions. Every year thereafter will post a decline in real purchaing power of these benefits.

What the Private Sector should expect is that anyone under 60 years old now, will most likely be economically forced to work til they drop. NO RETIREMENT EVER, any every year after 2008, you will see your lifestyle drop further and further.

20 years from now, you might be considered 'rich' if you are not living in a trash gov't housing project and working 100+ hrs/week just to eat and pay the Gov't the rent. YEA, you heard me right, with all the foreclosures eaten by the GSE's, they are not going to be put back on the market 'at fire-sale' prices like most renters on this blog are hoping for. The Gov't will set up a brand new GSE to take over these properties, and then rent them out. IT'S CALLED END-GAME. It's how they will control the masses. Equal Opprunity Housing will not apply to the Gov't GSE, who will be running whatever half-baked social engineering plan they dream up and force you to life!

February 18, 2008 at 10:02 PM

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