Tuesday, February 05, 2008
This makes sense...
Income= $50K, Mortgage=$607,000
An interesting article in today's Washington Post on the impact of the mortgage crisis on sunbelt cities. I found this quout enlightening:
They'll get a bail out, the executive of the mortgage firm that lent to these people will get a huge bonus, and responsible folks who were smart enough to get a fixed rate mortgage- like most of us - will pay for it.
Mission accomplished.
An interesting article in today's Washington Post on the impact of the mortgage crisis on sunbelt cities. I found this quout enlightening:
So please tell me exactly why taxpayers whould be bailing out the Aos?"We're in so deep that it doesn't seem like anything will help," said Rebekah Ao, 33, a pregnant homemaker who lives in a new four-bedroom home in Avondale with her husband, Otto, a truck driver. The Aos, with $50,000 in income, owe a total of $607,000 on mortgages for two houses they bought since they moved to the Phoenix area about two years ago.
They'll get a bail out, the executive of the mortgage firm that lent to these people will get a huge bonus, and responsible folks who were smart enough to get a fixed rate mortgage- like most of us - will pay for it.
Mission accomplished.
Tuesday, January 15, 2008
Nano, Nano
Goodbye Cheap Oil
Seems to me the $2,500 Tata Nano just introduced into a market of close to 1 billion poeple just might increase demand for oil. I'm just guessing.
Seems to me the $2,500 Tata Nano just introduced into a market of close to 1 billion poeple just might increase demand for oil. I'm just guessing.
Labels: Change, Economy, Environmentalism, Green
Welcome Back Stagflation!
Wholesale prices rise by 6%
Soaring energy prices, the falling dollar and the subprime mess are creating the perfect storm for a return to the stagnant economy and high inflation of the 1970s. Wholesale prices surged by 6.3% this past year. Good thing the federal reserve isn't cutting interest rates again...oh wait.
Soaring energy prices, the falling dollar and the subprime mess are creating the perfect storm for a return to the stagnant economy and high inflation of the 1970s. Wholesale prices surged by 6.3% this past year. Good thing the federal reserve isn't cutting interest rates again...oh wait.
Tuesday, May 22, 2007
Record Gas Prices
Hurray! :(
I don't drive, and when I do its not very far, so I don't feel this pain as much as say, my brother who commutes 45 miles (one-way) to work, or my 'nother brother who drives around auditing businesses. Although the other day I filled up my gas can for the lawn mower and it cost me $6.75.
I don't drive, and when I do its not very far, so I don't feel this pain as much as say, my brother who commutes 45 miles (one-way) to work, or my 'nother brother who drives around auditing businesses. Although the other day I filled up my gas can for the lawn mower and it cost me $6.75.
Monday, April 09, 2007
Wither Michigan?
A Slow Death?
A couple of reports out of Michigan aren't doing much to lift my spirits on the future of my home state. First is this report that, although struggling with a nearly $1 billion dollar budget deficit, the state Dems are proposing to buy each and every kid in the public schools an iPod. Of course a tax increase will be needed to accomplish this 'visionary' plan.
Next comes news that yet another jewel of Michigan's economy may be bought out. Drudge reports that Dow is the subject of a hostel take over. That follows the loss of K-Mart, Home Depot, Chrysler and the ongoing struggles of GM and Ford. Just how bad are things in Michigan? Bad enough that my eldest brother and his family are actively considering moving to the Carolinas. I left more than 14 years ago, my folks are only part year residents and my younger brother and his wife (both nurses) could leave at any time. My family has been in Michigan since it was a territory. Within the next year or so, all of them could easily be living in other states.
Too bad. The public school system is world class. That and the public universities in the state gave me an education that allows me to compete with the best and brightest. No opportunities to stay in the state however and it looks like there will be even fewer.
A couple of reports out of Michigan aren't doing much to lift my spirits on the future of my home state. First is this report that, although struggling with a nearly $1 billion dollar budget deficit, the state Dems are proposing to buy each and every kid in the public schools an iPod. Of course a tax increase will be needed to accomplish this 'visionary' plan.
Next comes news that yet another jewel of Michigan's economy may be bought out. Drudge reports that Dow is the subject of a hostel take over. That follows the loss of K-Mart, Home Depot, Chrysler and the ongoing struggles of GM and Ford. Just how bad are things in Michigan? Bad enough that my eldest brother and his family are actively considering moving to the Carolinas. I left more than 14 years ago, my folks are only part year residents and my younger brother and his wife (both nurses) could leave at any time. My family has been in Michigan since it was a territory. Within the next year or so, all of them could easily be living in other states.
Too bad. The public school system is world class. That and the public universities in the state gave me an education that allows me to compete with the best and brightest. No opportunities to stay in the state however and it looks like there will be even fewer.
Labels: Economy, Family, Michigan
