I watched the CNN flaks at noon, and finally discovered that they are only servicing rich people with their comments! One of the e-mailers brought up the Fed printing up money as being part of the debt problems and she laughed! Said it was a funny issue, and that the U.S. just borrows money to fund the debt, blah-blah, and OUR CHILDREN WILL BE PAYING IT OFF!!!
Then it was to the next question, which was about fixing up your home with a loan. Bad idea, she said, because an "investment" vehicle could get you more return in the long-run. Of course, it was a rich man's solution they were talking about, as they sheepishly admitted.
The final thing was the whole, "rework" your loans when no one is loaning any money. Lady says call 'em the day the payment is due if you can't make it to show them you are serious! WTF?!?!
I just get so tired of the shit sell from CNN! Every single fucking topic!
The clincher was the Wall Street broad talking about how restuarants are trying to "trick" the customers now by REDUCING PORTIONS and PLATE SIZES to cut costs -- while PRICES GO UP!
Yup, that is AMERIKAN BUSINESS these days!
Gotta TRICK YOU to FUCK YOU!!!
Never mind that the shits at CNN just lie! Look what is in the paper!
"Home foreclosure rate shows no sign of abatement"
"The onslaught of homes facing foreclosures has yet to ebb, a research report showed today, with bank repossessions skyrocketing last month as more troubled homeowners mailed in their keys and walked away.
And the worst isn't over: The wave of adjustable-rate loans resetting to higher rates will crest in May and June. And that's expected to push more homeowners into default and foreclosure in the third and fourth quarters of this year, according to RealtyTrac Inc. of Irvine, Calif...."
One in every 538 households received a filing during the month. Forty-four percent were households that slipped into default for the first time and more than a fifth were homes banks took back.... between 750,000 and 1 million bank-owned properties will hit the market this year, or about a quarter of the homes up for sale. In some areas, these properties will continue to slow sales and depress prices further.Declining home prices and stricter lending requirements have exacerbated the foreclosure environment. Homeowners stuck in unmanageable mortgages aren't able to sell their homes or refinance into cheaper loans before their mortgage payments reset higher...."
That's not the way CNN made it sound earlier today!!!!
But hey, not everybody is hurting!
OIL COMPANIES are still making buku $$$$$$!!!
How's that pump up your ass feel, America? Meters running, too!!!!
Also see: Economic Collapse Spreading
