What actually created this economic crisis? I guess it depends on who you ask. I will say though that I'm really tired of all the spin everyone is putting on it.
The facts are in our history and you can trace it back or chart it if you would like. Does it matter which political party contributed to this disaster? I don't think it really matters as far as the past is concerned but you need to understand the party platforms so we get the right people in office to fix it.
Here is a short but very fast moving account of how we got here. It moves pretty fast, I actually had to watch it twice.
Before you watch it I want you to understand that I am not pushing politics here. It's a good video because of the facts. I am an independent and don't support either party but that is a different subject.
Incase the video has been taken down, you can watch it here on YouTube.
Or, you should be able to view it here on this blog.
My personal opinion is that we should not have a Bail Out. Let the pieces fall and it will clean out all the bad guys.
I think a lot of "how bad it will be" is hype too. Do I have any facts to base that on? Just my gut because they are not giving us any real information so we can make an intelligent decision. You know about the mushrooms, right?
Wednesday, October 1, 2008
Economic crisis - we will survive
Thursday, September 18, 2008
Wednesday, June 18, 2008
What Has Caused All The Forclosures?
I received a foreclosure question from my site fha-mortgageunderwriters.com, and ... I really don't know if it was from a consumer or a loan professional. Most of the questions I get are from people in the industry.
The woman wanted to know what I think has really caused all the home foreclosures in our real estate market today. You know, that is not a simple question to answer, and I am usually pretty up to date on the market and the politics involved.
So, not wanting to offend I sent off a short list of the things that contributed to our housing crises:
- Politics, and politicians using the market to further their agenda. They have made it look much worse than it is and that media B.S. should clear after the election. Please understand, it is not good, but the market is not nearly as bad as they are blasting out to the consumers.
- The normal real estate cycle
- Depreciation of value which was sort of caused by mortgage backed securities which are tied to Allen Greenspan's over exuberance.
- "Interest Only" programs
- Teaser Rate Adjustments
- Over speculation by investors
- Job loss, divorce, and over extended borrowers
There are more reasons I could add to the list and please note that these are not in any kind of priority order. I know people will say I forgot to include fraud. I did not forget it. Fraud played the least amount of cause and is only significant to the point that it is the primary place where people want to point the finger of blame because is not politically challenging or threatening.
I started wondering about the politics and the bail outs and the federal reserve so I did some research for my own peace of mind. I was Googling everything.
I ran across this video on Google. It starts out talking about income tax but then it gets into the federal reserve and it's history and position in politics today. It is a long video but I was spell bound and watched the entire thing.
I am neither Democrat nor Republican so my putting it on this blog has no political intentions. In fact, I am still researching some of the stuff in the video. It did open my mind and I have many more questions now.
Your welcome to leave comments but I'll tell you right now I am still not sure how I feel about it.
Food for thought I guess. Enjoy.
If the video is not loading here for you, go to: http://video.google.com/videosearch?q=freedom+to+facism&hl=en&sitesearch=#
Or, search google videos for: America: freedom to fascism - directors authorized version
The one you want to view is 111 minutes long.