Re: 15 Signs American Society Is Coming Apart at the Seams
American Patriot
"sittingduck" <du...@spamherelots.com> wrote in message
news:Xns9CCBDA47CA40Cdu...@nomail.afraid.org...
> 15 Signs American Society Is Coming Apart at the Seams
> By David DeGraw, Amped Status
> Posted on November 21, 2009, Printed on November 22, 2009
> http://www.alternet.org/story/144109/
>
> Editor's note: The following is an edited excerpt from the Amped Status
> report, "The Critical Unraveling of U.S. Society."
>
> The economic elite have launched an attack on the U.S. public and society
> is unraveling at an increased rate. You may have missed it in the
> mainstream news media, but statistical societal indicators are reading red
> across the board. Let's look at the top 15 statistics that prove we are
> under attack.
>
> 1) The inequality of wealth in the United States is soaring to an
> unprecedented level. The U.S. already had the highest inequality of wealth
> in the industrialized world prior to the financial crisis. Since the
> crisis, which has hit the middle class and poor much harder than the top 1
> percent, the gap between the top 1 percent and the remaining 99 percent of
> the U.S. population has grown to a record high.
>
> 2) As the stock market went over the 10,000 mark and just surged to a 13-
> month high, the three big banks that took taxpayer money and benefited the
> most from the government bailout have just set a new global economic
> record
> by issuing $30 billion in annual bonuses this year, "up 60 percent from
> last year." Bloomberg reported: "Goldman Sachs, the most profitable
> securities firm in Wall Street history, had a record profit in the first
> nine months of this year and set aside $16.7 billion for compensation
> expenses." Goldman Sachs is on pace for the best year in the firm's
> history, and it is also benefiting by only paying 1 percent in taxes.
>
> 3) The profits of the economic elite are "now underwritten by taxpayers
> with $23.7 trillion worth of national wealth."
>
> As the looting is occurring at the top, the U.S. middle class is just
> beginning to collapse.
>
> 4) Workers between the ages of 55 to 60, who have worked for 20 to 29
> years, have lost an average of 25 percent off their 401k. During the same
> time period, the wealth of the 400 richest Americans went up by $30
> billion, bringing their total combined wealth to $1.57 trillion.
>
> 5) Home foreclosure filings "hit a record high in the third quarter (of
> 2009). They were the worst three months of all time. 937,840 homes
> received
> a foreclosure letter" in this three-month period; "3.4 million homes are
> expected to enter foreclosure by year's end, with some experts estimating
> that next year will be even worse."
>
> President Obama has enacted a $75 billion taxpayer funded program that has
> been a spectacular failure in stemming the foreclosure crisis and has
> proven to be another massive waste of billions of taxpayer dollars.
>
> 6) 25 million people are unemployed or underemployed.
>
> This means we have 25 million people who urgently need to increase their
> income, and they're quickly running out of options. The unemployment rate
> is expected to rise further and remain high for several years. "The
> president's chief economic adviser warned that the nation's unemployment
> rate could stay 'unacceptably high' for years to come."
>
> The New York Times reports: "Americans now confront a job market that is
> bleaker than ever in the current recession, and employment prospects are
> still getting worse. Job seekers now outnumber openings six to one, the
> worst ratio since the government began tracking.." As this ratio continues
> to grow, it will lead to a further reduction in wages -- average worker
> wages have seen a sharp decline over the past year.
>
> Economist Nouriel Roubini, a man who accurately predicted our current
> crisis, just reported on unemployment stating: "Think the worst is over?
> Wrong. Conditions in the U.S. labor markets are awful and worsening.. So
> we
> can expect that job losses will continue until the end of 2010 at the
> earliest. In other words, if you are unemployed and looking for work and
> just waiting for the economy to turn the corner, you had better hunker
> down. All the economic numbers suggest this will take a while. The jobs
> just are not coming back."
>
> 7) As the few elite banks thrive, there have been 123 U.S. bank failures
> thus far this year. Recently, three banks that the government declared
> "healthy" and gave taxpayer money, have folded. The Wall Street Journal
> reports: "U.S. regulators have seized or threatened at least 27 banks that
> got capital infusions from the Troubled Asset Relief Program, including
> some lenders government officials knew were troubled when they awarded the
> money. The troubles put taxpayers at risk of losing as much as $5.1
> billion
> invested in the banks since TARP was launched in October 2008."
>
> 8) As bankruptcies surge across the board, 10 U.S. states are on the verge
> of bankruptcy, with several ready to declare a financial state of
> emergency. California, Arizona, Florida, Illinois, Michigan, Nevada, New
> Jersey, Oregon, Rhode Island and Wisconsin are all "barreling toward
> economic disaster, raising the likelihood of higher taxes, more government
> layoffs and deep cuts in services."
>
> 9) This is occurring at a time when the "federal budget deficit for the
> fiscal year that just ended was $1.4 trillion, nearly a trillion dollars
> greater than the year before." In total, "U.S. public debt topped $12
> trillion for the first time in history. The public debt topped $10
> trillion
> in September 2008. The debt is quickly approaching the statutory limit of
> $12.104 trillion, meaning Congress would have to raise the ceiling to
> prevent a shutdown of government operations."
>
> Economist Dean Baker explains the risk of running such a large deficit:
> "The debt limit must be increased at regular intervals in order to allow
> the government to function normally because the government is currently
> operating at a deficit. If the debt limit is not passed, then at some
> point
> the government will not be able to pay workers and contractors. It won't
> be
> able to send out Social Security checks or make payments for Medicaid and
> unemployment insurance to state governments. And, it will not be able to
> make interest payments on government bonds, effectively defaulting on the
> national debt."
>
> Needless to say, all of this will make life drastically more difficult for
> American citizens. As the middle class continues on the path of economic
> decline, the number of citizens living in poverty has already hit an all-
> time high.
>
> 10) Although the government's official figure tries to low-ball the
> number,
> 47.4 million U.S. citizens live in poverty, and the U.S. poverty rate is
> the highest in the industrialized world.
>
> Predictably, homelessness is rising at an increased rate as well. "The
> U.S.
> government does not tally the numbers but interested organizations say
> that
> more than 3 million people were homeless at some point over the past
> year..
> The fastest growing segment of the homeless population is families with
> children."
>
> Children have been hit especially hard by the economic crisis:
>
> 11) * 50 percent of U.S. children, one out of every two children, will
> need
> to use food stamps to eat.
>
> One out of every two children in the United States of America will need to
> use a food stamp. to EAT!
>
> If you didn't think starvation was a serious threat in the U.S., just read
> this new Washington Post report: "The nation's economic crisis has
> catapulted the number of Americans who lack enough food to the highest
> level since the government has been keeping track, according to a new
> federal report, which shows that nearly 50 million people - including
> almost one child in four - struggled last year to get enough to eat.
> Several independent advocates and policy experts on hunger said that they
> had been bracing for the latest report to show deepening shortages, but
> that they were nevertheless astonished by how much the problem has
> worsened. 'This is unthinkable. It's like we are living in a Third World
> country,' said Vicki Escarra, president of Feeding America."
>
> The United States Department of Agriculture released these findings in a
> study that was completed in December 2008, which means these numbers don't
> take into account the millions more unemployed throughout 2009. The
> numbers
> of people living in poverty and struggling to eat has seen a significant
> increase since then.
>
> This a national tragedy. But it gets much worse.
>
> 12) In 2008, according to the Census Bureau, the number of U.S. citizens
> without health care grew to a record 46.3 million. "The new figures,
> however, understate the severity of the economic downturn because a large
> portion of the nation's job losses and unemployment rate increases
> occurred
> after the Census survey data was collected in March as part of the annual
> Current Population Survey."
>
> 13) Lack of health insurance has caused 45,000 preventable U.S. citizen
> deaths in the past year. The American Journal of Medicine recently
> released
> a study that stated, "Nearly two out of three bankruptcies stem from
> medical bills, and even people with health insurance face financial
> disaster if they experience a serious illness."
>
> A Johns Hopkins Children's Center study reported that 17,000 children have
> died due to lack of health care. You can also add in a recent report that
> revealed that 2,266 U.S. veterans have died in 2008 due to lack of
> insurance.
>
> The 50 million now uninsured and the 45,000 preventable deaths per year
> statistics are expected to drastically rise over the next few years. As
> the
> Senate continues to strip meaningful amendments from a health care bill
> that wouldn't even take effect until 2013, it has become clear that,
> despite the media hype, the health care bill is going to fall far short of
> meaningful reform and continue to rig the game in favor of large insurance
> company profits at the expense of the U.S. population. With the highest
> cost healthcare in the world, current trends will continue and much needed
> change is not on the horizon.
>
> Never before has the United States had so many citizens with so little
> means, little to no income and heavy debt. Debt and costs of living have
> now shackled U.S. citizens just as they have shackled people throughout
> the
> world. The economic hit men have now hit the United States as well and
> millions of American citizens are now effectively sentenced to a slow
> death.
>
> Economic Imperial blowback has hit the mainland.
>
> And the clock is ticking louder by the day.
>
> And here's two more facts for you:
>
> 14) The gun and ammunition manufacturing industry in the United States has
> over 200 companies producing billions of dollars in annual revenues. This
> huge manufacturing base cannot fulfill demand quickly enough. The demand
> for guns and ammunition has hit a record high and the gun industry cannot
> produce enough bullets to keep up with orders.
>
> Americans are arming themselves to the teeth!
>
> 15) In the past year, 100 new armed militia groups have been formed, as
> militia members have doubled in numbers. Federal authorities are gravely
> concerned about the "uptick in militia activities." One federal authority
> recently said, "All it's lacking is a spark. I think it's only a matter of
> time before you see threats and violence."
>
> So let's break down these numbers.
>
> You have a population of 50 million people who are in desperate need of
> money, they most likely have no health insurance and can't afford to get
> health care or help of any kind. Part of this population probably also has
> loved ones who can't get life sustaining medical treatments, or loved ones
> who have already died due to lack of costly medical treatment. The clock
> is
> ticking loud for these people and they are running out of options fast,
> and
> time delayed is time closer to death.
>
> While the richest 1 percent have never had it so good, a significant
> percentage of the U.S. population now has firsthand experience in this.
> Millions upon millions of Americans are poor, broke, struggling, starving,
> desperate. and armed.
>
> We are sitting on a powder keg!
>
> We are now witnessing the critical unraveling of U.S. society.
>
> --
> Say what you will about the sweet miracle of unquestioning faith, I
> consider a capacity for it terrifying and absolutely vile. - Kurt Vonnegut
Roy Blankenship
"American Patriot" <pro...@home.com> wrote in message
news:S9pOm.77693$b63....@news.usenetserver.com...
> All .......Thanks to your boys currently in DC!
Thanks to the Bush Administration. The bailout happened under Bush,
remember?
You are no patriot. A patriot would be doing what he could to make our
country better, not tear it down. This makes you an AMERICAN TRAITOR.. I am
sure you were silent when the Bush Administration fucked us over, weren't
you?
Kiss our collective asses and fuck off.
Watt Mutzke
American Patriot
We've covered this before. Maxine, Barney Chris and Franklindrove Fannie
and Freddie dry and lied to Congress about it in 2005. This Community
reinvestment act was created by Carter, accelerated by Clinton and Bush.
The major players were Democrats who ensured that these toxic assets were
sold around the world many times over, giving loans to people who couldn't
afford them. Chris Dodd, Barney Frank, Maxine Waters, Franklin Raines all
lied to Republicans who were digging into it into 2005. It does not all
solely rest on Bush's shoulders. Oh yeah- blame Obama too- for taking banks
like B of A and Citibank to court for not giving loans to "his people" and
not "spreading the wealth".
You are an American traitor because you don't look at the whole picture.
Your blind hatred for Bush kept you from seeing the whole tainted mess,
fucktard.
"Roy Blankenship" <point...@earthlink.net> wrote in message
news:oLudnXy1ePhVrpfW...@earthlink.com...
Taco Bell Comes With Snot
>15 Signs American Society Is Coming Apart at the Seams
The #1 indication is overwhelming religious occult beliefs in the
increasingly uneducated populace. Carl Sagan was correct.
---
10-year-old boy rejects Republicanism: http://www.youtube.com/watch?v=Rbfs0EVsHbs
Does belief in astrology cause insanity? http://www.skeptictank.org/edm.htm
palin@tsniffsniff.net J. Norman Gype
> Fuck you sir Blankenshit.
> You are an American traitor because you don't look at the whole picture.
> Your blind hatred for Bush kept you from seeing the whole tainted mess,
> fucktard.
You forget that Bush signed the American Dream Act of 2003 and had to know
people who didn't qualify were simply going to make Bush's bankers
wealthier.
http://www.americandreamdownpaymentassistance.com/whsp12162003.cfm
Roy Blankenship
Fuck you. You only know half the story, yet you think you have it all. You
don't. You are one of the stupid people who suck up the propaganda and think
you know something. You don't.
How original, to call me names. You just showed your true colors.
American Patriot
doesn't change the fact that Democrats and Republicans are raping this
country for their own twisted agendas.
"Roy Blankenship" <point...@earthlink.net> wrote in message
news:5cudncoSVKO4eJfW...@earthlink.com...
Vash the Stampede
>
> 15 Signs American Society Is Coming Apart at the Seams By David DeGraw,
> Amped Status
> Posted on November 21, 2009, Printed on November 22, 2009
> http://www.alternet.org/story/144109/
>
> Editor's note: The following is an edited excerpt from the Amped Status
> report, "The Critical Unraveling of U.S. Society."
>
> The economic elite have launched an attack on the U.S. public and society
> is unraveling at an increased rate. You may have missed it in the
> mainstream news media, but statistical societal indicators are reading red
> across the board. Let’s look at the top 15 statistics that prove we are
> under attack.
>
> 1) The inequality of wealth <SLAP!>
Oh, God Forbid anybody get wealthy!
We should bring the country to it's knees because there are RICH PEOPLE!!!
Vash the Stampede
>
> All .......Thanks to your boys currently in DC!
The first point is wealthy people. They're doing their best to eliminate
wealth in this country.
If Obama continues on his present course, they'll succeed, since the
dollar will be worthless.
I can't believe these people are cheering this man!
Vash the Stampede
>
> You are no patriot. A patriot would be doing what he could to make our
> country better, not tear it down.
We did! We didn't vote for Obama. Who do you think is really tearing this
country down?!?!?
American Patriot
"Vash the Stampede" <Tri...@2AM.cn> wrote in message
news:pan.2009.11.24....@2AM.cn...
American Patriot
the rhetoric and don't pay attention to the deeds.....
Its called the Bill Clinton Playbook. Up is down, left is right- and if you
tell a lie often enough, it becomes the truth.
"Vash the Stampede" <Tri...@2AM.cn> wrote in message
news:pan.2009.11.24....@2AM.cn...
American Patriot
class!
"Vash the Stampede" <Tri...@2AM.cn> wrote in message
news:pan.2009.11.24....@2AM.cn...
Lamont Cranston
> Fuck you sir Blankenshit.
> We've covered this before. Maxine, Barney Chris and Franklindrove
> Fannie and Freddie dry and lied to Congress about it in 2005. This
> Community reinvestment act was created by Carter, accelerated by
> Clinton and Bush.
The CRA had nothing to do with the meltdown. Nothing. Only 6% of all
subprimes loans were made under the auspices of the CRA.
http://www.federalreserve.gov/newsevents/speech/kroszner20081203a.htm
Governor Randall S. Kroszner
At the Confronting Concentrated Poverty Policy Forum, Board of Governors
of the Federal Reserve System, Washington, D.C.
December 3, 2008
The Community Reinvestment Act and the Recent Mortgage Crisis
Good morning. I am pleased to welcome you to the Board and even more
pleased to introduce today's discussion of the study conducted by the
Federal Reserve System's Community Affairs program in partnership with
The Brookings Institution, The Enduring Challenge of Concentrated
Poverty in America: Case Studies from Communities across the U.S.1
As you have heard, this report represents an extraordinary and
comprehensive effort by staff in all 12 Reserve Banks and at the Board
of Governors to explore the problem of concentrated poverty. The 16 case
studies in the report represent urban and rural areas, immigrant and
Native American communities, as well as older "weak" market cities and
newer "strong" market areas. By covering a wide variety of communities,
the report adds depth and texture to the existing literature on poverty
and offers important insights regarding the relationship between public
services and private investment.
For those who may not be familiar with the Federal Reserve System's
Community Affairs function, this report illustrates one of the many ways
in which it supports the System's objectives for economic growth by
promoting community development and fair and impartial access to credit.
The System's strength in research, together with its unique structure,
makes it particularly well suited to pursue this kind of work.
The Community Affairs program takes advantage of the 12 Federal Reserve
Banks located in different regions of the country to gather information
on local conditions and to conduct outreach and education efforts
through regular contact with financial institutions and market
intermediaries. The System's network of Community Affairs staff works
with lenders, community organizations, and local governments to identify
trends and issues affecting low- and moderate-income neighborhoods. This
communication with both financial markets and communities allows the
Federal Reserve to act as a bridge between the private and public
sectors.
The System's reputation for high-quality research, outreach, and
analysis and its regional presence made these 16 case studies and the
comparative analysis possible. This report makes an important
contribution to the literature on the dynamics of poor people living in
poor communities by recognizing the existence and persistence of
concentrations of poverty beyond the urban areas where it has been well
documented. Indeed, the study confirms that poverty persists in places,
such as rural and suburban communities, where it is not so easily seen.
The report also identifies the existing avenues for bringing poor people
and communities into the economic mainstream. This topic is at the
center of today's discussions. The Federal Reserve, together with the
other federal financial regulatory agencies, has had some experience in
addressing the credit needs of underserved communities, using the
Community Reinvestment Act (CRA) as our guide. CRA encourages financial
institutions not only to extend mortgage, small business, and other
types of credit to lower-income neighborhoods and households, but also
to provide investments and services to lower-income areas and people as
part of an overall effort to build the capacity necessary for these
places to thrive.
Some critics of the CRA contend that by encouraging banking institutions
to help meet the credit needs of lower-income borrowers and areas, the
law pushed banking institutions to undertake high-risk mortgage lending.
We have not yet seen empirical evidence to support these claims, nor has
it been our experience in implementing the law over the past 30 years
that the CRA has contributed to the erosion of safe and sound lending
practices. In the remainder of my remarks, I will discuss some of our
experiences with the CRA. I will also discuss the findings of a recent
analysis of mortgage-related data by Federal Reserve staff that runs
counter to the charge that the CRA was at the root of, or otherwise
contributed in any substantive way, to the current subprime crisis.
Regulatory Efforts to Meet Credit Needs in Underserved Markets
In the 1970s, when banking was still a local enterprise, the Congress
enacted the CRA. The act required the banking regulators to encourage
insured depository institutions--that is, commercial banks and
thrifts--to help meet the credit needs of their entire community,
including low- and moderate-income areas. The CRA does not stipulate
minimum targets or goals for lending, investments, or services. Rather,
the law provides incentives for financial institutions to help meet the
credit needs of lower-income people and areas, consistent with safe and
sound banking practices, and commensurately provides them favorable CRA
consideration for those activities. By requiring regulators to make CRA
performance ratings and evaluations public and to consider those ratings
when reviewing applications for mergers, acquisitions, and branches, the
Congress created an unusual set of incentives to promote interaction
between lenders and community organizations.
Given the incentives of the CRA, bankers have pursued lines of business
that had not been previously tapped by forming partnerships with
community organizations and other stakeholders to identify and help meet
the credit needs of underserved communities. This experimentation in
lending, often combined with financial education and counseling and
consideration of nontraditional measures of creditworthiness, expanded
the markets for safe lending in underserved communities and demonstrated
its viability; as a result, these actions attracted competition from
other financial services providers, many of whom were not covered by the
CRA. There are many fine examples of community development lending and
investment activities designed to address needs in the poorest of areas,
including many of those highlighted by the case studies in this report.
During trips to the regional Federal Reserve Banks and Branches, I have
spent a lot of time visiting areas with high concentrations of poverty.
For many years, the Fed has promoted community banking services for the
unbanked and underbanked population. It was gratifying for me to find
that financial services were accessible in, for example, central
Cleveland, thanks to the efforts of one local bank that offers
check-cashing services at much lower rates than competing nonbank check
cashers. Similarly, in the Little Haiti neighborhood in Miami, another
case-study community that I had the opportunity to visit last year, one
banking institution has committed to serving the neighborhood's unbanked
residents by hiring Creole-speaking staff to promote a prosperity
campaign built around the Earned Income Tax Credit.
I am sure that today's luncheon speaker, Tom Barrett, mayor of
Milwaukee, could share similar observations about a local financial
institution serving that case-study neighborhood by providing low-income
residents complimentary electronic income tax filing combined with
financial education seminars, innovative credit repair programs, and
low-cost banking services. These services benefit lower-income customers
by providing a simple means of accessing Earned Income and Homestead Tax
Credits and the services necessary to maximize the benefits of these
programs.
In addition to providing financial services to lower-income people,
banks also provide critical community development loans and investments
to address affordable housing and economic development needs. These
activities are particularly effective because they leverage the
resources available to communities from public subsidies and tax credit
programs that are targeted to lower-income people. In just the past two
years, banks have reported making over $120 billion in community
development loans nationwide.2 This figure does not capture the full
extent of such lending, because smaller institutions are not required to
report community development loans to their regulators.
Evidence on CRA and the Subprime Crisis
Over the years, the Federal Reserve has prepared two reports for the
Congress that provide information on the performance of lending to
lower-income borrowers or neighborhoods--populations that are the focus
of the CRA.3 These studies found that lending to lower-income
individuals and communities has been nearly as profitable and performed
similarly to other types of lending done by CRA-covered institutions.
Thus, the long-term evidence shows that the CRA has not pushed banks
into extending loans that perform out of line with their traditional
businesses. Rather, the law has encouraged banks to be aware of lending
opportunities in all segments of their local communities as well as to
learn how to undertake such lending in a safe and sound manner.
Recently, Federal Reserve staff has undertaken more specific analysis
focusing on the potential relationship between the CRA and the current
subprime crisis. This analysis was performed for the purpose of
assessing claims that the CRA was a principal cause of the current
mortgage market difficulties. For this analysis, the staff examined
lending activity covering the period that corresponds to the height of
the subprime boom.4
The research focused on two basic questions. First, we asked what share
of originations for subprime loans is related to the CRA. The potential
role of the CRA in the subprime crisis could either be large or small,
depending on the answer to this question. We found that the loans that
are the focus of the CRA represent a very small portion of the subprime
lending market, casting considerable doubt on the potential contribution
that the law could have made to the subprime mortgage crisis.
Second, we asked how CRA-related subprime loans performed relative to
other loans. Once again, the potential role of the CRA could be large or
small, depending on the answer to this question. We found that
delinquency rates were high in all neighborhood income groups, and that
CRA-related subprime loans performed in a comparable manner to other
subprime loans; as such, differences in performance between CRA-related
subprime lending and other subprime lending cannot lie at the root of
recent market turmoil.
In analyzing the available data, we focused on two distinct metrics:
loan origination activity and loan performance. With respect to the
first question concerning loan originations, we wanted to know which
types of lending institutions made higher-priced loans, to whom those
loans were made, and in what types of neighborhoods the loans were
extended.5 This analysis allowed us to determine what fraction of
subprime lending could be related to the CRA.
Our analysis of the loan data found that about 60 percent of
higher-priced loan originations went to middle- or higher-income
borrowers or neighborhoods. Such borrowers are not the populations
targeted by the CRA. In addition, more than 20 percent of the
higher-priced loans were extended to lower-income borrowers or borrowers
in lower-income areas by independent nonbank institutions--that is,
institutions not covered by the CRA.6
Putting together these facts provides a striking result: Only 6 percent
of all the higher-priced loans were extended by CRA-covered lenders to
lower-income borrowers or neighborhoods in their CRA assessment areas,
the local geographies that are the primary focus for CRA evaluation
purposes. This result undermines the assertion by critics of the
potential for a substantial role for the CRA in the subprime crisis. In
other words, the very small share of all higher-priced loan originations
that can reasonably be attributed to the CRA makes it hard to imagine
how this law could have contributed in any meaningful way to the current
subprime crisis.
Of course, loan originations are only one path that banking institutions
can follow to meet their CRA obligations. They can also purchase loans
from lenders not covered by the CRA, and in this way encourage more of
this type of lending. The data also suggest that these types of
transactions have not been a significant factor in the current crisis.
Specifically, less than 2 percent of the higher-priced and
CRA-credit-eligible mortgage originations sold by independent mortgage
companies were purchased by CRA-covered institutions.
I now want to turn to the second question concerning how CRA-related
subprime lending performed relative to other types of lending. To
address this issue, we looked at data on subprime and alt-A mortgage
delinquencies in lower-income neighborhoods and compared them with those
in middle- and higher-income neighborhoods to see how CRA-related loans
performed.7 An overall comparison revealed that the rates for all
subprime and alt-A loans delinquent 90 days or more is high regardless
of neighborhood income.8 This result casts further doubt on the view
that the CRA could have contributed in any meaningful way to the current
subprime crisis.
Unfortunately, the available data on loan performance do not let us
distinguish which specific loans in lower-income areas were related to
the CRA. As noted earlier, institutions not covered by the CRA extended
many loans to borrowers in lower-income areas. Also, some lower-income
lending by institutions subject to the law was outside their local
communities and unlikely to have been motivated by the CRA.
To learn more about the relative performance of CRA-related lending, we
conducted more-detailed analyses to try to focus on performance
differences that might truly arise as a consequence of the rule as
opposed to other factors. Attempting to adjust for other relevant
factors is challenging but worthwhile to try to assess the performance
of CRA-related lending. In one such analysis, we compared loan
delinquency rates in neighborhoods that are right above and right below
the CRA neighborhood income eligibility threshold. In other words, we
compared loan performance by borrowers in two groups of neighborhoods
that should not be very different except for the fact that the lending
in one group received special attention under the CRA.
When we conducted this analysis, we found essentially no difference in
the performance of subprime loans in Zip codes that were just below or
just above the income threshold for the CRA.9 The results of this
analysis are not consistent with the contention that the CRA is at the
root of the subprime crisis, because delinquency rates for subprime and
alt-A loans in neighborhoods just below the CRA-eligibility threshold
are very similar to delinquency rates on loans just above the threshold,
hence not the subject of CRA lending.
To gain further insight into the potential relationship between the CRA
and the subprime crisis, we also compared the recent performance of
subprime loans with mortgages originated and held in portfolio under the
affordable lending programs operated by NeighborWorks America (NWA). As
a member of the board of directors of the NWA, I am quite familiar with
its lending activities. The NWA has partnered with many CRA-covered
banking institutions to originate and hold mortgages made predominantly
to lower-income borrowers and neighborhoods. So, to the extent that such
loans are representative of CRA-lending programs in general, the
performance of these loans is helpful in understanding the relationship
between the CRA and the subprime crisis. We found that loans originated
under the NWA program had a lower delinquency rate than subprime
loans.10 Furthermore, the loans in the NWA affordable lending portfolio
had a lower rate of foreclosure than prime loans. The result that the
loans in the NWA portfolio performed better than subprime loans again
casts doubt on the contention that the CRA has been a significant
contributor to the subprime crisis.
The final analysis we undertook to investigate the likely effects of the
CRA on the subprime crisis was to examine foreclosure activity across
neighborhoods grouped by income. We found that most foreclosure filings
have taken place in middle- or higher-income neighborhoods; in fact,
foreclosure filings have increased at a faster pace in middle- or
higher-income areas than in lower-income areas that are the focus of the
CRA.11
Two key points emerge from all of our analysis of the available data.
First, only a small portion of subprime mortgage originations are
related to the CRA. Second, CRA- related loans appear to perform
comparably to other types of subprime loans. Taken together, as I stated
earlier, we believe that the available evidence runs counter to the
contention that the CRA contributed in any substantive way to the
current mortgage crisis.
Conclusions
Our findings are important because neighborhoods and communities
affected by the economic downturn will require the active participation
of financial institutions. Considering the situation today, many
neighborhoods that are not currently the focus of the CRA are also
experiencing great difficulties. Our recent review of foreclosure data
suggested that many middle-income areas currently have elevated rates of
foreclosure filings and could face the prospect of falling into
low-to-moderate income status. In fact, 13 percent of the middle-income
Zip codes have had foreclosure-rate filings that are above the overall
rate for lower-income areas.
Helping to stabilize such areas not only benefits families in these
areas but also provides spillover benefits to adjacent lower-income
areas that are the traditional target of the CRA. Recognizing this, the
Congress recently underscored the need for states and localities to
undertake a comprehensive approach to stabilizing neighborhoods hard-hit
by foreclosures through the enactment of the new Neighborhood
Stabilization Program (NSP). The NSP permits targeting of federal funds
to benefit families up to 120 percent of area median income in those
areas experiencing rising foreclosures and falling home values.
In conclusion, I believe the CRA is an important model for designing
incentives that motivate private-sector involvement to help meet
community needs. The CRA has, in fact, been helpful in alleviating the
financial isolation of many areas of concentrated poverty, but as our
report illustrates, there is much more that could be done in these
communities. Contrary to the assertions of critics, the evidence does
not support the view that the CRA contributed in any substantial way to
the crisis in the subprime mortgage market. Today's discussion is an
important first step in the process of identifying other initiatives and
areas of cooperation between government and the private sector that will
effectively address the continuing challenge of poverty in the United
States.
--------------------------------------------------------------------------------
Footnotes
1. Federal Reserve System, Community Affairs Offices; and Brookings
Institution, Metropolitan Policy Program (2008), The Enduring Challenge
of Concentrated Poverty in America: Case Studies from Communities across
the U.S. (Richmond, Va.: Federal Reserve Bank of Richmond). Return to
text
2. Data are from filings made by larger banking institutions to the
Federal Financial Institutions Examination Council on CRA-related small
business, small farm, and community development lending; for more
information, see FFIEC website. Return to text
3. See Board of Governors of the Federal Reserve System (1993), Report
to the Congress on Community Development Lending by Depository
Institutions (Washington: Board of Governors), pp. 1-69; and Board of
Governors of the Federal Reserve System (2000), The Performance and
Profitability of CRA-Related Lending (147 KB PDF) (Washington: Board of
Governors, July), pp. 1-99. Return to text
4. The staff analysis (102 KB PDF) focused on loans originated in 2005
and 2006. Return to text
5. Loan origination data are from information reported pursuant to the
Home Mortgage Disclosure Act (HMDA). The HMDA data do not identify
subprime loans directly, in part because there is not a single
definition of which loans fall into this category. Rather, the HMDA
data indicate which loans are categorized as higher priced, including
subprime loans and some alt-A loans. The analysis of data includes
first-lien conventional loans for home purchase or refinance related to
site-built homes. It excludes business-related loans to the extent they
could be identified. For more information on HMDA data and
higher-priced lending, see Robert B. Avery, Kenneth P. Brevoort, and
Glenn B. Canner (2007), "The 2006 HMDA Data," Federal Reserve Bulletin,
vol. 93. Return to text
6. About 17 percent of the higher-priced loan originations were made by
CRA-covered lenders or their affiliates to lower-income populations in
areas outside the banking institutions' local communities. Such lending
is not the focus of the CRA and is frequently not considered in CRA
performance evaluations. Return to text
7. Data are from First American Loan Performance (LP). For the
analysis, Zip code delinquency data were classified by relative income
in two different ways. First, the data were classified using
information published by the U. S. Census Bureau on income at the Zip
Code Tabulation Area (ZCTA) level of geography. Because the ZCTA data
provide an income estimate for each Zip code, delinquency rates can be
calculated directly from the LP data based on the Zip code location of
the properties securing the loans. Second, delinquency rates for each
relative income group (lower, middle, and higher) were calculated as the
weighted sum of delinquencies divided by the weighted sum of mortgages,
where the weights equal each Zip code's share of the population in
census tracts of the particular relative income group. Relative income
is based on the 2000 decennial census and is calculated as the median
family income of the census tract divided by the median family income of
its metropolitan statistical area or nonmetropolitan portion of the
state. Both approaches yield virtually identical results. Return to
text
8. The analysis focused on loans originated from January 2006 through
April 2008 with performance measured as of August 2008. However, a
virtually identical relationship in loan performance across neighborhood
income groups is found if the pool of loans evaluated is expanded to
cover those originated in 2004 or 2005. The only material difference is
that the levels of delinquency are lower for the loans covering longer
periods. Loans that are 90 days or more delinquent include those that
end in foreclosure or as real estate owned.Delinquency rates were
somewhat higher in the lower-income areas. However, the somewhat higher
delinquency rates in lower-income areas is not a surprising result
because lower-income borrowers tend to be more sensitive to economic
shocks given that, among other things, they have fewer financial
resources on which to draw in emergencies. Return to text
9. The CRA neighborhood income threshold is where the neighborhood
median family income is 80 percent of the median family income of the
broader area, such as a metropolitan statistical area or nonmetropolitan
portion of a state, depending on the specific location of the
neighborhood. Return to text
10. No information was available on the geographic distribution of the
NeighborWorks America loans. The geographic pattern of lending can
matter, as certain areas of the country are experiencing much more
difficult conditions in their housing market than other areas. Return to
text
11. Data are from RealtyTrac, covering foreclosures from January 2006
through August 2008. These data are reported at the Zip code level.
Foreclosure filings have been consolidated at the property level, so
separate filings on first- and subordinate-lien loans on the same
property are counted as a single filing. Return to text
Lamont Cranston
> Facts are stubborn things-
Yes, the are:
Speech
Lamont Cranston
The GOP and the assholes who vote for it.
Vash the Stampede
> Vash, its not as simple as that- they are also out to detroy the middle
> class!
No, they are out to destroy ALL classes! A classless society, like the one
they had in the Soviet Union.
Just remember, some animals are more equal than others. It was a very good
book. Everyone should read it.
And, there will be two classes. The Masses and the Elitists, and guess
where the politicians are going to be?
Vash the Stampede
> Folks aren't paying attention to the left hand - all they do is listen to
> the rhetoric and don't pay attention to the deeds..... Its called the Bill
> Clinton Playbook. Up is down, left is right- and if you tell a lie often
> enough, it becomes the truth.
Obama's in so far over his head down is looking like up, to him.
He's clueless. He's almost paralyzed. His agenda is being derailed rail by
rail, and he doesn't know how to deal with it. I think he's just laying
back for right now and regrouping, since the Takeover wasn't as easy as he
thought it was going to be.
Also, watch for his "Afghanistan Plan", due next week; months after a
General had to go on 60 Minutes to GET HIS ATTENTION!!!
Vash the Stampede
Well, Lamont, good to see some things don't change!
Republicans usually try to build the country up.
Vash the Stampede
>
> American Patriot wrote:
>> Fuck you sir Blankenshit.
>> We've covered this before. Maxine, Barney Chris and Franklindrove
>> Fannie and Freddie dry and lied to Congress about it in 2005. This
>> Community reinvestment act was created by Carter, accelerated by Clinton
>> and Bush.
>
> The CRA had nothing to do with the meltdown. Nothing. Only 6% of all
> subprimes loans were made under the auspices of the CRA.
Gee, Lamont, I didn't see a single thing in there about Bush *TWICE*
asking the Congressional Banking Committe to look into lending practices.
You can thank Barney Frank for being a "team player".
swiggy
was that why all of the bailout money started flowing during the Bush
adminitration?
SWIGGY
American Patriot
insolvent....
keep telling yourself that.
"Lamont Cranston" <Lamont....@Shadow.com> wrote in message
news:hehbid$tqm$1...@news.datemas.de...
American Patriot
forgetting that small detail!
"swiggy" <swiggy_m...@comcast.net> wrote in message
news:W5udnTOR543JS5HW...@giganews.com...
Lamont Cranston
> On Tue, 24 Nov 2009 11:26:36 -0800, Lamont Cranston wrote:
>
>> Vash the Stampede wrote:
>>> On Mon, 23 Nov 2009 00:57:44 -0600, Roy Blankenship wrote:
>>>
>>>
>>>> You are no patriot. A patriot would be doing what he could to make
>>>> our country better, not tear it down.
>>>
>>> We did! We didn't vote for Obama. Who do you think is really tearing
>>> this country down?!?!?
>>
>> The GOP and the assholes who vote for it.
>
> Well, Lamont, good to see some things don't change!
>
> Republicans usually try to build the country up.
Sure. With only one exception, every recession this country has
experienced since the end of WW II began with a Republican in the White
House. The only things that Republicans try to build up is their bank
accounts.
Lamont Cranston
> yeah- that's why fannie and freddie became worthless and upside
> down.... and insolvent....
> keep telling yourself that.
Let's see. Who am I going to believe, you or a Fed governor? Fannie
and Freddie were victims of the crisis, you fucking moron. It amazes me
just how stupid you GOP cocksuckers are. But, then I remember that you
get all of your news from Limbaugh.
http://www.businessweek.com/investing/insights/blog/archives/2008/09/fannie_mae_and.html
Fannie Mae and Freddie Mac were victims, not culprits
Posted by: Aaron Pressman on September 26
There's a dangerous - and misleading - argument making the rounds about
the causes of our current credit crisis. It's emanating from Washington
where politicians are engaging in the usual blame game but this time the
stakes are so high that we can't afford to fall victim to political
doublespeak. In this fact-free zone, government sponsored mortgage
giants Fannie Mae and Freddie Mac caused the real estate bubble and
subprime meltdown. It's completely false. Fannie Mae and Freddie Mac
were victims of the credit crisis, not culprits.
Start with the most basic fact of all: virtually none of the $1.5
trillion of cratering subprime mortgages were backed by Fannie or
Freddie. That's right - most subprime mortgages did not meet Fannie or
Freddie's strict lending standards. All those no money down, no interest
for a year, low teaser rate loans? All the loans made without checking a
borrower's income or employment history? All made in the private sector,
without any support from Fannie and Freddie.
Look at the numbers. While the credit bubble was peaking from 2003 to
2006, the amount of loans originated by Fannie and Freddie dropped from
$2.7 trillion to $1 trillion. Meanwhile, in the private sector, the
amount of subprime loans originated jumped to $600 billion from $335
billion and Alt-A loans hit $400 billion from $85 billion in 2003.
Fannie and Freddie, which wouldn't accept crazy floating rate loans,
which required income verification and minimum down payments, were left
out of the insanity.
There's a must-read study by staff members of the Federal Reserve Bank
of New York analyzing the roots of the subprime crisis that came out in
March. I don't think it got much attention then as the conclusions
seemed uncontroversial at the time. But now that Washington politicians
are trying to rewrite history, it should be mandatory reading for every
American interested in knowing how we got here.
The study identifies five causes of the subprime meltdown:
-Convoluted loan products that consumers didn't understand.
-Credit ratings that didn't do a good job highlighting the risks
contained in subprime-backed securities.
-Lack of incentives for institutional investors to do their own research
(they just relied on the credit ratings).
-Predatory lending and borrowing (which I think means fraud perpetrated
by borrowers).
-Significant errors in the models used by credit rating agencies to
assess subprime-backed securities.
You'll note in the Fed's five causes that there's some culpability for
lenders, borrowers, investors and credit raters. There's no blame for
Freddie Mac or Fannie Mae which had little or nothing to do with the
entire situation.
It's certainly fair to criticize Fannie and Freddie over real issues
that contributed to their downfall. The companies had numerous
accounting problems and inadequate safeguards covering their own
investment portfolios. Those weaknesses came home to roost when the real
estate market cratered. Fannie and Freddie purchased billions of dollars
of subprime-backed securities for their own investment portfolios and
got hit just like every other investor. But it's some kind of crazy,
politically inspired CYA to blame for the mess we're in.
AssBite
Shhhhhhhhh, they want you to forget that part... =-O
-- Linux Mint 7.0
who am I? I forget
were you in a coma during the Carter administration?
Lamont Cranston
Are you incapable of reading and understanding English. I stated, "With
ONE EXCEPTION, every recession this country has experienced since the
end of WW II began with a Republican in the White House." Are you now
in a coma?
AssBite
who am I? I forget wrote:
--
Linux Mint 7.0
Roy Blankenship
"who am I? I forget" <by...@my.arse> wrote in message
news:LggPm.78389$Wf2....@newsfe23.iad...
Do you have a reading comprehension issue? Did he say, "with one exception"?
who am I? I forget
so is your response.
who am I? I forget
did he specify that is his tirade? of course not, he's got his nose so high in the air he can't see all they keys on his keyboard. what's your excuse? or are you just another "ME TOO!" guy? you missed his post asking the same question over an hour before you.
AssBite
still the president, on this group. You all spoke pure shit and then
elected a Fuckin' Retard for our leader and propped Him up for 8 years
as He fucked up the Country and damn near the work, The reprobation's of
which we will feel for many years to come and you all Republican Shits
still sit here in this Humor group and fuck it up just like Republicans
always fuck everything Up!! I see now that this is a multi-post from
differing groups. I was referring to SKEWED. I stayed away for ten years
and I'm going to go away again this fucking BLOWS!! Cheetah was then and
still is the MAN on Here... C'ya
--
Linux Mint 7.0
swiggy
news:LggPm.78389$Wf2....@newsfe23.iad...
---------------------------
Nope. I do recall that recession had started during the Nixon administration and
got worse with the Ford administration. (among other things that kicked off the
recession was the Arab Oil Embargo when gas prices more than doubled, gas stations
were rationed on the amount of gas they had and there were "shortages" of other
consumer goods, causing prices to rise dramatically) One thing we always see
during a recession is the high number of people unemployed. Unemployment was at
3.5% in January of 1969. When Nixon resigned, unemployment had risen to 5.5% and
at the end of Ford's term, was 7.8%(it had risen to a then record high of 9% in
May '75) When Carter left office, it had a roller coaster starting at 7.5% (lower
than when Ford left office) dropped as low as 5.6% before inching it's way back up
to 7.2%. The Reagan administration came in and unemployment rose to a new all time
high of 10.8%. It took 5 years for it to drop below 7% from when he first took
office. and by the time he left, it was finally down to 5.3%.
Then along came the worst nightmare of the American economy: The Bush family.
Under the leadership of GHW Bush that 5.3% dropped as low as 5% his first few
months in office, then rose to 7.4%. He wasn't given a second chance. Somehow the
GOP leaders lost sight of allowing people to pursue the American Dream, which
included being able to EARN an income.
Clinton ran under a ideology that Bush couldn't fight: It's the economy, stupid.
That's why, over the 8 years that Clinton was in office, the unemployment rate
went from 7.3% in January of 1993 to 3.9% in December of 2000. The last time
unemployment was that low occured in January of 1970.
But then along came the Bush family, with their GOP controled congress (note:
basically the same congress that Clinton dealt with) What happened? Unemployment
immediately went up to 4.2% and over the course of the next 8 years, basically
rose to the point that when he left office it was up to 7.2%.
SWIGGY
Leo
Vash the Stampede
>> Oh, God Forbid anybody get wealthy!
>> We should bring the country to it's knees because there are RICH
>> PEOPLE!!!
>
> Hey STUPID Extremist Uneducated American Terrorist, you are TOO STUPID to
> understand that nobody against the rich or being rich
As usual you are wrong. You are somewhat right in your analysis, ie how
they get wealthy (some of them) but True Liberals are against rich people.
Period.
Vash the Stampede
The fact is, you can only maintain a growth period for so long. The thing
is, how LONG the recession lasts. Most of the time they are short lived.
There was a recession during Bush's time in office, but it was short and
ended quickly.
The current recession started with Bush in the WH, but Obama's doing his
damndest to make sure it isn't a short one. He has done all the textbook
examples of what NOT to do in a recession: overspend, raise taxes, print
money.
This is not going to be a short one this time.
Vash the Stampede
>
> Nope. I do recall that recession had started during the Nixon
> administration and got worse with the Ford administration.
That was totally mismanaged by all of them.
The pump was primed for Reagan. All he had to do was free up money, which
he did. He could have stopped then. People were more than ready to spend
once they had the money.
Reagan actually went too far in the other direction, and overheated the
economy. No suprise a recession started near the end of his term.
DamOTclese
>Vash the Stampede <Tri...@2AM.cn> wrote:
>> Oh, God Forbid anybody get wealthy!
>coming from and how the STUPID Uneducated Americans allowing it to happen
>is another story.
There's great irony in the rightarded belief that stealing from tax payers
to become obscenely rich is acceptable despite the fact that there stupid
rightards will *never* get rich enough to steal from the rest of us.
---
The Virgin Mary was raped.
10-year-old boy rejects Republicanism: http://www.youtube.com/watch?v=Rbfs0EVsHbs
Does belief in astrology cause insanity? http://www.skeptictank.org/edm.htm
Bert Hyman
<point...@earthlink.net> wrote:
> The bailout happened under Bush, remember?
>
What do you mean "the" bailout?
How many billions have been poured down various ratholes and promised
for more ratholes since Bush left town?
--
Bert Hyman St. Paul, MN be...@iphouse.com
Vash the Stampede
> "||IllI||" <|IIl||@nospam.com> wrote:
>>Vash the Stampede <Tri...@2AM.cn> wrote:
>>> Oh, God Forbid anybody get wealthy!
>>Hey STUPID Extremist Uneducated American Terrorist, you are TOO STUPID to
>>understand that nobody against the rich or being rich. But how the
>>wealth coming from and how the STUPID Uneducated Americans allowing it to
>>happen is another story.
>
> There's great irony in the rightarded belief that stealing from tax payers
> to become obscenely rich is acceptable despite the fact that there stupid
> rightards will *never* get rich enough to steal from the rest of us.
>
Huh?
Vash the Stampede
>
> If only 1/2 of Americans have the right education then shit ain't gonna
> happen to America like it's now.
Well, unfortunately, more than half of voters voted for an Empty Suit.
Vash the Stampede
> Vash the Stampede <Tri...@2AM.cn> wrote:
>
> Hey STUPID Extremist Uneducated American Terrorist, you are TOO STUPID to
> realize that the America Systems have been broken for over a century, and
> they have been getting out of control for the past 50-60 years.
>
> And you are TOO STUPID to understand that fixing the badly damaged
> Education System is the only way to solve most of the problems. And
> because the number of STUPID Extremist Uneducated American is around
> 25-30%, and the WRONG Educated Americans is around 85-90% (the STUPID
> Extremist like you are among these 90%) so it may take at least 2-3
> decades to reform the education system. Then all the sicko crooks can't
> stand a chance to fool the well educated citizens.
>
> But because USA is a badly damaged country so it has to do the unusual
> way.
Thisis one of the few things I can agree with you about. The education
system is broken, but the Welfare State is, too. FDR started it as an aid
to women and children hit hard by the Depression in the 1930's. Johnson
expanded it to blanket a lot more people, and Clinton tried to fix it
during his term.
Then Obama and Pelosi go and open it wide open again (read the "Stimulus
package". Welfare is once again open ended.)
American Patriot
however, California went their own way and that is while only one in ten
Americans lives in California, one in something like three welfare
recipients in the US lives in California. No wonder California is broke-
they welcome welfare collectors.
"Vash the Stampede" <Tri...@2AM.cn> wrote in message
news:pan.2009.11.27....@2AM.cn...
American Patriot
news:pan.2009.11.27....@2AM.cn...
Leftard logic I guess
lorad
> On Sun, 22 Nov 2009 21:27:28 -0800, sittingduck wrote:
>
> > 15 Signs American Society Is Coming Apart at the Seams By David DeGraw,
> > Amped Status
> > Posted on November 21, 2009, Printed on November 22, 2009
> >http://www.alternet.org/story/144109/
>
> > Editor's note: The following is an edited excerpt from the Amped Status
> > report, "The Critical Unraveling of U.S. Society."
>
> > The economic elite have launched an attack on the U.S. public and society
> > is unraveling at an increased rate. You may have missed it in the
> > mainstream news media, but statistical societal indicators are reading red
> > across the board. Let’s look at the top 15 statistics that prove we are
> > under attack.
>
> > 1) The inequality of wealth <SLAP!>
>
> Oh, God Forbid anybody get wealthy!
>
> - Show quoted text -
Rich people are ok...
Rich people who manipulate the government to disempower everyone
else... just to accumulate more wealth are vermin.
Rich crooks ('free traders', oil manipulators, neocons, NWOs..) are
those who already have brought the country to its knees.
Leo
"American Patriot" <pro...@home.com> wrote in message
news:UG2Qm.4430$tx2...@news.usenetserver.com...
So what if he lives in a 1.65 million dollar house?
He didn't come by it honestly....but graft is like that.
Libs are so shallow and lack cohesive thought....
Give a Liberal a book and he will be looking for pictures to color.
Text? What is that?
Leo
And guess who is paying for that?
DamOTclese
>On Fri, 27 Nov 2009 17:39:32 +0000, DamOTclese wrote:
>> "||IllI||" <|IIl||@nospam.com> wrote:
>>>Vash the Stampede <Tri...@2AM.cn> wrote:
>>>> Oh, God Forbid anybody get wealthy!
>>>Hey STUPID Extremist Uneducated American Terrorist, you are TOO STUPID to
>>>understand that nobody against the rich or being rich. But how the
>>>wealth coming from and how the STUPID Uneducated Americans allowing it to
>>>happen is another story.
>> There's great irony in the rightarded belief that stealing from tax payers
>> to become obscenely rich is acceptable despite the fact that there stupid
>> rightards will *never* get rich enough to steal from the rest of us.
> Huh?
Your one opportunity to acquire a High School education came and went.
You'll always be a stupid American idiot.
Obwon
15 Signs American Society Is Coming Apart at the Seams
http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=B9oMag2lWApIpoBPSP%2FMMaXqNFnupddj
By David DeGraw, Amped Status
Are we nearing a tipping point as rapacious elites push a
heavily armed populace too far? more �
http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=ldsahxVHS4iIhFHYGwYYNqXqNFnupddj
Day Brown
> We are sitting on a powder keg!
> We are now witnessing the critical unraveling of U.S. society.
A reasonable concern. But ranting here will not do anything. Its not like
we here have any effect on policy whether we are Right or Left.
I've been noticing a lotta people moving into my neck of Ozark woods,
and looking up the Census bureau, see the fastest growing demographic
now is the "X-urb". Those who have got the fuck outta Dodge already.
The influx has been steady and continues. But it never created a housing
bubble cause those who moved here didnt have enuf money left from their
retirement funds. It goes on in obscure rural areas that are not trendy
enuf to see a real estate boom. Or bust. VA benefits, civil service
pensions, and Social Security have been modest, but stable incomes, so
I've yet to see a 'foreclosure' sign.
It has created some jobs in construction, dirt work, landscaping, etc.
People can make it without high mortgage or debt service with modest wages.
As to why, since I was born on a farm in 1939, I've been aware of how
agribusiness has increased output, but lowered nutrition. Worse, is how
kids have been raised on sugar cereals, junkfood, and soda. Which did
not maximize mental development. When they matured to vote, they chose
demagogues. If you are nevertheless rational, it dont look good.
The posted national rate for autism is 1:155; the rate for Amish kids,
who are not raised on agribusiness output, is 1:15000. Small town, small
schools dont have nearly the problems because so many of their kids are
still raised on family farms.
Half the Green Berets grew up on family farms. This is but 1% of the
total population providing 50% of the nation's most competent soldiers.
If the proverbial schit hits the fan, they will be back to defend the
farms they grew up on. Dont mess with them. They can shoot. Well.
Butteye_Jest
sittingduck <du...@spamherelots.com> wrote:
> Day Brown wrote:
>
> > The posted national rate for autism is 1:155; the rate for Amish kids,
> > who are not raised on agribusiness output, is 1:15000. Small town, small
> > schools dont have nearly the problems because so many of their kids are
> > still raised on family farms.
> >
> > Half the Green Berets grew up on family farms. This is but 1% of the
> > total population providing 50% of the nation's most competent soldiers.
> > If the proverbial schit hits the fan, they will be back to defend the
> > farms they grew up on. Dont mess with them. They can shoot. Well.
>
> This boils down to something really simple.... "You are what you eat".
> The people raised on farms don't eat the garbage that the rest of society
> has become brainwashed into.
> The dumb city folk get fat and disgusting and sick from the neverending
> supply of cheap corn syrup and other trash that is foisted upon them.
> Healthcare is a broken, for-profit system that is fed by the retarded
> eating habits most people have.
> It's going to get worse before it gets better.
> They say obesity is an epidemic, and it is... but only the tip of the
> iceberg!
Hard to make a definite causal relationship there because of other
factors plus...
Good food may have improved their aim and nerves, but how smart can they
be joining the forces -doesn't impress me.
Other factors may have influenced the Amish as well. Maybe non-Amish's
exposure to something else like Fox news may be the cause.
--
Ole Butteye
swiggy
problems. As they tend to live in small communities around the country, they
appear to have a small gene pool. No, I'm not talking about an "Uncle Daddy"
situation (that's a different topic) but rather, they're more inbred than the
european royalty. 1st, 2nd, 3rd cousin marriages are not uncommon. Even if an
Amish boy in Arkansas married an Amish Girl in Lancaster, odds are good that they
have some common blood. Such birth defects occur more often then imagined.
SWIGGY
"Day Brown" <dayh...@gmail.com> wrote in message
news:4b1301b0$0$8822$ec3e...@news.usenetmonster.com...
Lamont Cranston
> "Roy Blankenship" <point...@earthlink.net> wrote in message
> news:ZbCdnayGUZJSM5DW...@earthlink.com...
>>
>> "who am I? I forget" <by...@my.arse> wrote in message
>> news:LggPm.78389$Wf2....@newsfe23.iad...
>> "Lamont Cranston" <Lamont....@Shadow.com> wrote in message
>> news:hejfqd$q6r$1...@news.datemas.de...
>>> Vash the Stampede wrote:
>>>> On Tue, 24 Nov 2009 11:26:36 -0800, Lamont Cranston wrote:
>>>>
>>>>> Vash the Stampede wrote:
>>>>>> On Mon, 23 Nov 2009 00:57:44 -0600, Roy Blankenship wrote:
>>>>>>
>>>>>>
>>>>>>> You are no patriot. A patriot would be doing what he could to
>>>>>>> make our country better, not tear it down.
>>>>>>
>>>>>> We did! We didn't vote for Obama. Who do you think is really
>>>>>> tearing this country down?!?!?
>>>>>
>>>>> The GOP and the assholes who vote for it.
>>>>
>>>> Well, Lamont, good to see some things don't change!
>>>>
>>>> Republicans usually try to build the country up.
>>>
>>> Sure. With only one exception, every recession this country has
>>> experienced since the end of WW II began with a Republican in the
>>> White House. The only things that Republicans try to build up is
>>> their bank accounts.
>>>
>>
>>
>> Do you have a reading comprehension issue? Did he say, "with one
>> exception"?
>>
>>
>>
>>
>>
>
> did he specify that is his tirade?
Tirade? Three sentences is a tirade? See above: "With only one
exception, every recession this country has experienced since the end of
WW II began with a Republican in the White House." I specified "with
only one exception," dumbfuck.
Vash the Stampede
>>> There's great irony in the rightarded belief that stealing from tax
>>> payers to become obscenely rich is acceptable despite the fact that
>>> there stupid rightards will *never* get rich enough to steal from the
>>> rest of us.
>> Huh?
>
> Your one opportunity to acquire a High School education came and went.
>
> You'll always be a stupid American idiot.
>
> ---
> The Virgin Mary was raped.
Um. Sure...
I never got a "High School" diploma.
Vash the Stampede
> Vash the Stampede <Tri...@2AM.cn> wrote:
>
>> On Fri, 27 Nov 2009 17:39:32 +0000, DamOTclese wrote:
>>
>> > "||IllI||" <|IIl||@nospam.com> wrote:
>> >>Vash the Stampede <Tri...@2AM.cn> wrote:
>> >>> Oh, God Forbid anybody get wealthy!
>> >>Hey STUPID Extremist Uneducated American Terrorist, you are TOO STUPID
>> >>to understand that nobody against the rich or being rich. But how the
>> >>wealth coming from and how the STUPID Uneducated Americans allowing it
>> >>to happen is another story.
>> >
>> > There's great irony in the rightarded belief that stealing from tax
>> > payers to become obscenely rich is acceptable despite the fact that
>> > there stupid rightards will *never* get rich enough to steal from the
>> > rest of us.
>> >
>> >
>> Huh?
>
> Hey STUPID Extremist Uneducated American Terrorist, you are TOO STUPID to
> understand so learn to use less "Huh?"
When you start making sense...
I'm having myself committed...
Vash the Stampede
Made about as much sense as a tin-foil hat...
Vash the Stampede
> Vash the Stampede <Tri...@2AM.cn> wrote:
>
>> On Fri, 27 Nov 2009 12:27:09 -0600, ||IllI|| wrote:
>>>Vash the Stampede <Tri...@2AM.cn> wrote:
>>>
>>>> On Wed, 25 Nov 2009 06:50:00 -0800, Lamont Cranston wrote:
>>>>
>>>> > Vash the Stampede wrote:
>>>> >> On Tue, 24 Nov 2009 11:26:36 -0800, Lamont Cranston wrote:
>>>> >>
>>>> >>> Vash the Stampede wrote:
>>>> >>>> On Mon, 23 Nov 2009 00:57:44 -0600, Roy Blankenship wrote:
>>>> >>>>
>>>> >>>>
>>>> >>>>> You are no patriot. A patriot would be doing what he could to
>>>> >>>>> make our country better, not tear it down.
>>>> >>>>
>>>> >>>> We did! We didn't vote for Obama. Who do you think is really
>>>> >>>> tearing this country down?!?!?
>>>> >>>
>>>> >>> The GOP and the assholes who vote for it.
>>>> >>
>>>> >> Well, Lamont, good to see some things don't change!
>>>> >>
>>>> >> Republicans usually try to build the country up.
>>>> >
>>>> > Sure. With only one exception, every recession this country has
>>>> > experienced since the end of WW II began with a Republican in the
>>>> > White House. The only things that Republicans try to build up is
>>>> > their bank accounts.
>>>>
>>>> The fact is, you can only maintain a growth period for so long. The
>>>> thing is, how LONG the recession lasts. Most of the time they are
>>>> short lived. There was a recession during Bush's time in office, but
>>>> it was short and ended quickly.
>>>>
>>>> The current recession started with Bush in the WH, but Obama's doing
>>>> his damndest to make sure it isn't a short one. He has done all the
>>>> textbook examples of what NOT to do in a recession: overspend, raise
>>>> taxes, print money.
>>>>
>>>> This is not going to be a short one this time.
>>>
>>> Hey STUPID Extremist Uneducated American Terrorist, you are TOO STUPID
>>> to
>>>realize that the America Systems have been broken for over a century,
>>>and they have been getting out of control for the past 50-60 years.
>>>
>>> And you are TOO STUPID to understand that fixing the badly damaged
>>>Education System is the only way to solve most of the problems. And
>>>because the number of STUPID Extremist Uneducated American is around
>>>25-30%, and the WRONG Educated Americans is around 85-90% (the STUPID
>>>Extremist like you are among these 90%) so it may take at least 2-3
>>>decades to reform the education system. Then all the sicko crooks can't
>>>stand a chance to fool the well educated citizens.
>>>
>>> But because USA is a badly damaged country so it has to do the unusual
>>>way.
>>
>>
>>
>> > If only 1/2 of Americans have the right education then shit ain't
>> > gonna
>> > happen to America like it's now.
>>
>> Well, unfortunately, more than half of voters voted for an Empty Suit.
>
> Hey STUPID Extremist Unewducated American Terrorist, you don't have to
> remind American that more than 1/2 elected Barack Obama to be the US
> president, and you told us you are TOO STUPID to vote in the past 8 years.
Vote for who? Bush? Gore? Kerry?
I think the STUPID ones are the ones who bothered to vote for any of these
LOSERS, but the REAL stupid ones are the ones who voted for Obama because
"he's not Bush."
Of course, that doesn't include the probably 1 million ACORN registered
"voters" who are illegal, fictional or dead.
Vash the Stampede
> "American Patriot" <pro...@home.com> wrote:
>
>> That is one of the few good things Clinton did in his term of
>> office..... however, California went their own way and that is while
>> only one in ten Americans lives in California, one in something like
>> three welfare recipients in the US lives in California. No wonder
>> California is broke- they welcome welfare collectors.
>
> Hey STUPID Uneducated Coward American Terrorist, you are TOO STUPID to
> understand that even Clinton didn't do shit to the country.
So, Clinton *didn't* reform Welfare?
Vash the Stampede
||IllI||?
DamOTclese
>> >>> There's great irony in the rightarded belief that stealing from tax
>> >>> payers to become obscenely rich is acceptable despite the fact that
>> >>> there stupid rightards will *never* get rich enough to steal from the
>> >>> rest of us.
>> >> Huh?
>> > Your one opportunity to acquire a High School education came and went.
>> > You'll always be a stupid American idiot.
>> I never got a "High School" diploma.
>American Terrorist. Because you are STUPID beyond STUPID, or raised by
>uneducated parents.
Or worse! Educated in Texas.
---
10-year-old boy rejects Republicanism: http://www.youtube.com/watch?v=Rbfs0EVsHbs
Does belief in astrology cause insanity? http://www.skeptictank.org/edm.htm
"They love them some god-fearin' dipshits, don't they?" -- SittingDuck
swiggy
news:pan.2009.12.01....@2AM.cn...
When goalposts starts making sense, I recommend every country with a nuclear
arsenal set them off simultaneously.
The world will be safe.
SWIGGY
swiggy
news:pan.2009.12.01....@2AM.cn...
Neither did I. I got a GED. Skipped the classes and took the test. Top ten
percentile in the state.
Either the test was too easy (It was) or I was misplaced in school, and should
have been in the genius classes instead.(one of my teachers asked me about this. I
told them I was unaware that the school system seperated classes by intellegence.
(hey, I was 12)
SWIGGY
swiggy
SWIGGY
swiggy
news:pan.2009.12.01...@2AM.cn...
Remember, even if you didn't vote for Obama, by not casting a vote for someone
else, you, by default, elected Obama. You had every chance to write in the
candidate of your choice. Imagine if every American wrote in a candidate if they
didn't want Obama OR McCain as president. Or any of the other party faves for
Congress or Senate or Governor... or even dogcatcher.
Voting is a right. You ready to start the petitions in your state to get me
elected. I'll admit to leaning to the left on some issues, and to the right on
others, but we need leaders that can balance both sides of an issue to come up
with the best solutions.
Take the health care bill. The dems may have gone too far to the left, but the
GOPS, but not coming up with anything went too far to the right. And it's been
that way since Truman's day, if not earlier. (I recall Teddy wanted something done
back in his day, but nothing done.
Teddy Roosevelt was the last great Republican.
SWIGGY