Not since John Kennedy and Lyndon Johnson have we seen such a return of the political machine to national politics.
Say what you will about Dick Nixon, Jimmy Carter, Ronald Regan, Bill Clinton, George W. Bush, they were all outside of the backroom machine politics.
Now we have a president created by the same Chicago machine that delivered the White House to John Kennedy and brought you the 1968 Democratic Convention.
What about "Change"? The manager of free those who stole from small investors to pay for Clinton is labelled for Attorney General. The unions who forced their members to pay for Obama are to be rewarded with new highway, bridge and other infrastructure projects. Remember this is the same machine that gave "affirmative action" grants to white males.
What was worse than the depression in 1932? The depression of 1938 made worse by 5 years of protectionism and stifling of production by big government programs.
You heard it here. Watch for the machine to attack the secret ballot within the first year.
Tuesday, December 9, 2008
Barking up the Wrong Tree
Take a look at the headlines from Chicago.
Unions picketing Bank of America because B of A wouldn't give gredit to a failing company, thus causing the company to close.
Don't see the Unions offering to give a loan to the company from their pension funds. Also have to listen to the union paid congressional types complaining about the quality of the loans the banks have made in the past.
Didn't hear the unions offering to reduce the cost of the company producing its product.
If you want to complain about denying credit to lousy credit risks then don't complain about having to bail out the banks that have been forced to make the loans.
The Union memebers can probably get jobs under the Obama pay off of the unions who supported him. What pay off?
All of the money to "rebuild infrastructure" is required by federal law to go solely to union contractors. No help for the poor carpenter who used to build houses until he pays thousands to the union to get on their bench.
Unions picketing Bank of America because B of A wouldn't give gredit to a failing company, thus causing the company to close.
Don't see the Unions offering to give a loan to the company from their pension funds. Also have to listen to the union paid congressional types complaining about the quality of the loans the banks have made in the past.
Didn't hear the unions offering to reduce the cost of the company producing its product.
If you want to complain about denying credit to lousy credit risks then don't complain about having to bail out the banks that have been forced to make the loans.
The Union memebers can probably get jobs under the Obama pay off of the unions who supported him. What pay off?
All of the money to "rebuild infrastructure" is required by federal law to go solely to union contractors. No help for the poor carpenter who used to build houses until he pays thousands to the union to get on their bench.
Monday, December 8, 2008
Beware the Savior solution for foreclosures.
Now the numbers start to come in.
It's been long enough that those who received reworked mortgages to avoid foreclosure have a track record.
According to the Office of Comptroller of the Currency, reports from the 14 largest lenders, representing 60% of mortgage lending, of those with mortgages that had been modified for at least 6 months, 53% wer 30 days or more behind.
It's tough when suspicions are right. It was not the loan that was the problem. When the loan was modified more than half of these borrowers were behind again in 6 months.
This is not a mortgage crisis it's a borrower crisis. When borrowers just don't pay it is not a foreclosure crisis.
What happened. Remember the good old days of Ninja loans. No income, no job, no assets, no credit - no problem. A lot of people in homes they couldn't afford. Why worry about them any more than the person who bought the over priced SUV and didn't like putting $4.00 a gallon gas in it. Choices have consequences.
The consequence of not making your payment is foreclosure. Don't penalize the people who saved and tightened their belts and are still making their payment.
It's been long enough that those who received reworked mortgages to avoid foreclosure have a track record.
According to the Office of Comptroller of the Currency, reports from the 14 largest lenders, representing 60% of mortgage lending, of those with mortgages that had been modified for at least 6 months, 53% wer 30 days or more behind.
It's tough when suspicions are right. It was not the loan that was the problem. When the loan was modified more than half of these borrowers were behind again in 6 months.
This is not a mortgage crisis it's a borrower crisis. When borrowers just don't pay it is not a foreclosure crisis.
What happened. Remember the good old days of Ninja loans. No income, no job, no assets, no credit - no problem. A lot of people in homes they couldn't afford. Why worry about them any more than the person who bought the over priced SUV and didn't like putting $4.00 a gallon gas in it. Choices have consequences.
The consequence of not making your payment is foreclosure. Don't penalize the people who saved and tightened their belts and are still making their payment.
8 Ways to Save Energy and Money around the home
1. Plug air leaks with caulking, sealing, or weather stripping. Save 10 percent ($190 per year) or more on energy bills. Focus on windows, doors, outlets or switch plates on exterior walls.
2. Properly maintain the heating system. Heating accounts for half the average family's energy bill (approximately $950 per year). Make sure the furnace or heat pump receives professional maintenance each year. The small cost (about $75-100 for most service calls) will pay back in better performance all year long.
3. Install a programmable thermostat. Programming the thermostat from 72ºF to 65ºF for eight hours a day while no one is home, or everyone is tucked in bed, will cut the heating bill up to 10 percent ($90 per year), paying for a basic unit in less than a year.
4. Seal and insulate heating ducts. A system can lose up to 60 percent of its warmed air before it reaches the register (wasting $570 in warmed air per year) if ducts are not properly insulated in unheated areas such as attics and crawlspaces.
5. Insulate, insulate, insulate. Adequate insulation in the attic, ceilings, exterior and basement walls, floors, and crawlspaces can save up to 30 percent on home energy bills ($630 per year). Focus on the attic. (Heat rises.) Most homes should have between R-30 and R-49 insulation in the attic. Learn more at www.eere.energy.gov/consumer.
6. Close fireplace dampers when not in use. When in use, reduce heat loss by opening dampers in the bottom of the firebox (if provided) or open the nearest window about an inch, close doors to the room, and lower thermostat setting to 50-55ºF.
7. Let the sun shine in. Open curtains on south facing windows during the day to allow sunlight to naturally heat the home, and close them at night to reduce the chill from cold windows.
8. Stay out of hot water. Water heating accounts for 15 percent of household energy use. Reduce water heating costs by lowering the water heater’s thermostat setting. Each 10ºF reduction can save between 3-5 percent in energy costs. Also insulate the hot water heater and hot water pipes.
2. Properly maintain the heating system. Heating accounts for half the average family's energy bill (approximately $950 per year). Make sure the furnace or heat pump receives professional maintenance each year. The small cost (about $75-100 for most service calls) will pay back in better performance all year long.
3. Install a programmable thermostat. Programming the thermostat from 72ºF to 65ºF for eight hours a day while no one is home, or everyone is tucked in bed, will cut the heating bill up to 10 percent ($90 per year), paying for a basic unit in less than a year.
4. Seal and insulate heating ducts. A system can lose up to 60 percent of its warmed air before it reaches the register (wasting $570 in warmed air per year) if ducts are not properly insulated in unheated areas such as attics and crawlspaces.
5. Insulate, insulate, insulate. Adequate insulation in the attic, ceilings, exterior and basement walls, floors, and crawlspaces can save up to 30 percent on home energy bills ($630 per year). Focus on the attic. (Heat rises.) Most homes should have between R-30 and R-49 insulation in the attic. Learn more at www.eere.energy.gov/consumer.
6. Close fireplace dampers when not in use. When in use, reduce heat loss by opening dampers in the bottom of the firebox (if provided) or open the nearest window about an inch, close doors to the room, and lower thermostat setting to 50-55ºF.
7. Let the sun shine in. Open curtains on south facing windows during the day to allow sunlight to naturally heat the home, and close them at night to reduce the chill from cold windows.
8. Stay out of hot water. Water heating accounts for 15 percent of household energy use. Reduce water heating costs by lowering the water heater’s thermostat setting. Each 10ºF reduction can save between 3-5 percent in energy costs. Also insulate the hot water heater and hot water pipes.
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