A picture is worth a thousand words...

Unless of course you are talking about the US debt. Then a picture is worth $114,500,000,000,000.00 words.

Click on the title above or the link below to review just how much the US debt really is.
http://usdebt.kleptocracy.us/

It's my right...I'm American!

When recently asked by a US Senator and others what his thoughts were on the US debt plans, this is what Kirk Nace had to say...

"As a nation we have created the situation we now face over many decades of irresponsible choices. Accepting responsibility is a must. Those who have allowed this situation to exist for the longest period of time, should bear the greatest responsibility. Those who have had less opportunity to change it should bear a lesser responsibility.

We reach voting age at 18, someone who is now 68 has had 50 years during which they have allowed this situation to come into being and during which they received the benefits of their choices to date. Someone who is 28 has had only 1/5 that time and therefore should be held only 1/5 as responsible.

Connecting a person's age to the amount of debt incurred under their watch, and then attaching that to the benefits they receive (SSI, Medicare, Welfare, etc) and/or the taxes they pay could certainly be worked out in a very simple, across the board manner.

ie. you were born in 1955, here is your responsibility, period. It impacts your taxes this way ____, it impacts your government sponsored benefits this way ___. You could potentially tie this to estates, etc as well.

Obviously, there is no perfect plan that all will readily accept. This approach however would allow a democracy to act as one and to clearly demonstrate that the individuals within such a nation have a responsibility.

I have shared this concept with clients for a number of years and have yet to hear a single credible objection. Of course the reality is, our older citizenry will be held responsible for more at precisely a time when they are feeling entitled to more. Well folks, they've already got theirs. They voted it to themselves already and have in fact stolen from their future generations. Now is simply the time when we are forced to right those wrongs and to take back much of what we have come to feel entitled to.

We have lost our edge because we have elected to spend our wealth in ways other than reinvesting in education. We are now at a competitive disadvantage to many other nations when it comes to our ability to out think and thereby prosper. This is one of many choices made by those who now want to collect Pensions, SSI, Medicare and all the other nonsensical entitlements that they feel they should receive simply because they live here.

You are still here, accept responsibility for bringing the entire nation here, and if you must live frugally for the balance of your days, that will perhaps still allow you to teach future generations that choices made truly do have consequences."

Supply and Demand still applies...

Another great piece on how the law of supply and demand applies to real estate. I contacted the man we believe to be the nation's most accurate prognosticator of the housing mess, Kirk Nace, and his somewhat abrupt response was simply "look, I have been sharing that our bottom won't occur nationally until the later part of 2015 at the absolute earliest and prices will be at least 25% lower than where they are here in the later part of July 2011. At least with the other turmoil in D.C. they may not have enough focus on this to continue screwing it up!"

Click on the title above or the link below to review the entire CNBC article.
http://www.cnbc.com/id/43913483

No Way Eh...

Could we, the USA, learn something from our loonie neighbors to the north? Did you know that in Canada, they don't have Mortgage Interest Deductions on their personal residences? Does this mean that they don't have a Mortgage Interest Deduction? Nope, not at all! In fact, they only offer it to property owners of investment properties. Now before you go and tell me Take Off Eh...read the link below, then go back and re-read the posts from December 1st & 14th, 2010 and ask yourself who truly benefits from the MID?

Click on the title above or the link below to review the entire CNBC article.
http://www.cnbc.com/id/43882179

You didn't really think they would stop did you???

Robo signing and all the other nonsense big banks promised to stop, hasn't.

Click on the title above or the link below to review the entire CNBC article.
http://www.cnbc.com/id/43801510

Something to think about

For your reading pleasure...here are a few links to interesting articles for the week of July 11, 2011. Enjoy...

http://finance.yahoo.com/news/Neighbor-vs-neighbor-as-apf-2524543580.html?x=0

http://finance.yahoo.com/news/Economy-Faces-a-Jolt-as-nytimes-3470532037.html?x=0

http://finance.yahoo.com/news/First-Person-Why-We-Pumped-ac-1929272088.html?x=0

Are you ready for another 20% price drop and a 2012 recession?

I just spoke with Kirk Nace, who simply commented "It's good that the news we have been sharing for almost 7 years is now being shared more by the main stream media."

Click on the title above or the link below to review the entire Yahoo Finance article.
http://finance.yahoo.com/blogs/daily-ticker/20-drop-housing-cause-recession-2012-says-gary-161445494.html

Bill Gross further negative on US economic future

A few weeks ago we shared that Bill Gross views the United States in worse shape than Greece.

Click on the title above or the link below to review the entire CNBC article.
http://www.cnbc.com/id/43733676

PRICES ARE UP AND PIGS ARE FLYING ....

There's no link to this message and it's simple. Kirk Nace (contributes to this site under the name "Ouch") has shared some fairly logical and critical information.

How it's possible for the media to spin that sales prices are up (which is complete bullshit, btw):

EXAMPLE#1:

5 sales

4 @ 100K

1 @ 200K

Avg sales price is 120K.

EXAMPLE #2:

5 sales

3 @ 90K

2 @ 175K

Avg sales price is 124K.

So, consider the source and then look around. Ask yourself, is there anyone you know who is better off today than they were say 2-3 or even five years ago? COMMON SENSE!

Directly from Kirk Nace: "Reality is the low end dropped, the high end dropped and more people at the higher end are finally being hit and/or deciding to not hang on so they walk away. In most markets the lower end was hit first and is further through the correction than the mid and upper ranges, so now a higher percentage of total sales has moved to the mid and upper ranges. Average homes in those ranges aren’t selling for more, but the fact that more sales are occurring there is pulling market average prices up."

In other words, the LAW of Supply and Demand has not been repealed!

Please submit comments and/or commentary directly on this site, or email me if you'd like further clarification of this.

The Perfect Storm?

What IF...I mean this is the guy who accurately called the 2008 financial crisis, could he be right about this? I wouldn't bet against it!

Click on the title above or the link below to review the entire CNBC article.
http://www.cnbc.com/id/43659234

You don't understand...it's different here

What can we learn from the Irish?

Click on the title above or the link below to review the entire Daily Wealth article.
http://www.dailywealth.com/1778/One-of-the-Saddest-Stories-in-the-World-A-Lesson-We-Can-All-Learn-From