Judge Andrew Napolitano covers the US Constitution in this 5 part series. Thank you Judge!
The Constitution and Freedom, The Constitution! (Part 1)
The Constitution and Freedom, The Constitution! (Part 2) [click to continue…]
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This time Rick Santelli points out the lunacy of trying to artificially sustain a bubble that has burst – the housing market.
Check it out and then see an excerpt from an article on Zero Hedge…
And by the way, Rick, whatever you do, don’t, don’t read the following article by Bloomberg: “Manhattan Luxury Condos Try FHA Backing in Sales `Game Changer‘” in which we read that “The Federal Housing Administration agreed in March to insure mortgages for apartments at the 98-unit Gramercy Park development, known as Tempo. That enables buyers to make a down payment of as little as 3.5 percent in a building where apartments range from $820,000 to $3 million.” Yes, ladies and gentlemen, the FHA is now insuring purchases of ultra luxury appartment by the ultra rich, affording what is essentially a no money down “NINJA/subprime-like” creep up into the most expensive properties in the world, entirely on the backs of the US middle class. If that “uber-wealthy” don’t blow up the FHA, and the $7 trillion in GSE debt, nothing will.
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A clip from Judge Andrew Napolitano’s Freedom Watch 7/31/2010
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Robert Prechter appears on Puplava’s Financial Sense Newshour June 19, 2010, and gives his view on where we are and where we are headed. He has some interesting observations on the U.S. Governments ability to manage a financial crisis (like the one we are in).
Prechter has had an uncanny record of forecasting big directional changes in the financial markets. He uses the “Elliot Wave Theory”, which identifies and follows certain patterns in the markets.
20 Questions with Robert Prechter: Devaluation Won’t Work
By Elliott Wave InternationalJim Puplava: In 1933 at the bottom of the crisis, the Roosevelt administration comes in. In its first week they declare a bank holiday, they reopen the banks with the FDIC, they sever gold, they come in with massive fiscal stimulus and they devalue the dollar substantially. The result was from 1933 to1937 we have positive CPI, economic growth, a robust stock market. If fiscal and monetary measures fail to revive the economy and the market, could the government try devaluation to change the deflationary outcome the way they did 1933?
RP: Well, you have to have a benchmark in order to devalue a currency. Our currency isn’t pegged to anything, so I don’t understand even what the term devaluation would mean. What would they do to do create a devaluation?
Read ALL of Prechter’s candid answers for FREE now. Access the free 20-page report here.
JP: Maybe they come out with a formal saying: the dollar is now worth a half a euro, X amount of yen or it’s a formal statement. They just declare it formally.
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Dr. Ron Paul said all along that HR 1207 would not make it through the House. Sure enough, HR 1207 died on the House Floor yesterday (Thursday, July 1, 2010), when the “Audit Provision” was voted out.
Why? In the final hour, 114 Representatives (who had been “cosponsors”) pulled a “benedict beck”, and voted against the provision.
You could ask, “So, why even bother?”
But, look at the awareness that has brought to the issue by Congressman Paul!
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