Go To "Some Assembly Required"

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Hrer are some excerpts:

On Schedule: According to Fitch Ratings it will take over 3.5 years to sell off the 7 million houses that now make up the shadow inventory – and those numbers will only grow as time passes. The more foreclosed/REO/vacant houses there are, the further house prices will decline and the greater the losses on mortgage-backed securities – and that’s the important part, investment losses. To hell with the homeowners

Ownership: Wouldn't it be refreshing to hear a self-described fiscal conservative outline a concrete proposal that would have a significant impact on the deficit? They can't, because they are just mouthing the words. Pretending. Lying.


Who's Next? Is the US in for the same deep budget cuts the UK is undergoing? A lot of candidates who ran on 'deficit reduction' and 'smaller government' have been elected – is there any chance they'll actually do what they promised, or will they simply trim a little off the top and call it a day. Let's hope it's the latter.

G'way, Y'bother Me: How is it possible that consumer spending is back and the economy is nearly fully recovered while unemployment hovers around 10%, foreclosures are mounting, poverty has reached a 15-year high and great parts of the public are struggling with debt? Because the richest 5% account for 37% of all consumer spending. Sorry, but most of the American public simply don't matter.