Comments by native2sb
Posted on February 14 at 9:44 a.m.
I guess Chris Dorner has them shaking in their boots. Haven't they heard? Or might they be turning out more? If that doesn't explain it, then it must be because of all the Taliban hanging around State Street, panhandling. Maybe the cops better lock the gates and stay inside, but they'll never get their bike back that way. No problem, because they're riding tricycles now.
Posted on February 11 at 10:10 a.m.
Agreeing with billclausen and recognizing that the cost of living is being pushed up rapidly and dramatically...
The Federal Reserve and the Comptroller of the Currency have decided that instead of real-estate prices coming down, all other prices must come up.
During the 1970 - 2007 real estate bubble, the entire country (including Santa Barbara) drastically overpaid for their homes. If prices were allowed to correct, they would be marked down to a fraction of where they are now and take more than a generation to re-inflate.
There are at least three problems with allowing this to happen. First, the banks would be insolvent because their massive leverage is largely based on the inflated asset prices. Second, no congress people would get re-elected because voters would be angry with politicians for their perceived loss of wealth. Third, tax revenues would decline and the government would be insolvent.
So the only solution is more of the problem (just like gasoline on the fire). First, real estate prices are forced upwards with trillions of dollars of federal support (like welfare for the rich). Second, all other prices must be forced up to even things out (like rents, food, and gasoline).
Only through these extreme measures (known publicly as Quantitative Easing) can the banks and the government survive by loading massive financial burdens onto the public. However, the government and the banks are ignoring the fact that the debt and cost of living are unsustainable. The collapse of either prices, or the currency is inevitable and the result could be widespread "instability."
Posted on February 8 at 9:59 a.m.
An admirable effort on the part of all the volunteers. This program is great PR at a critical time when the FHA is bankrupt and in need of a bailout.
http://www.reuters.com/article/2013/0...
It would also be nice to read an article explaining the relationship between increasing homelessness and the vast inventory of vacant houses on the books of the FHA, the federal mortgage agencies and the Federal Reserve.
Posted on February 6 at 6:28 p.m.
Some confusion may arise from the incorrect use of the word "Authority." You could call one organization the Santa Barbara Housing Scheme, and the other one the Santa Barbara Housing Scam.
On Again
Posted on February 6 at 5:04 p.m.
like I was saying:
http://www.reuters.com/article/2013/0...
Arguments work well for distracting the public from real issues.
Democrats and Republicans argue over how to divide the loot while the citizens get robbed. The same federal government organization is simultaneously inflating the real estate bubble so that prices stay high while it offers subsidies for "affordable" housing. That way the citizens must either take on a huge debt burden or win a lottery to own a house. It's a scam to subjugate and control the population, it's called debt peonage.
Good luck with it.
Posted on January 31 at 10:21 a.m.
Meanwhile, the FHA and the federal mortgage agencies are rationing their inventory of foreclosures to keep prices high.
Posted on January 30 at 9:48 a.m.
WooWoo, good luck on your project.
There's also 3rd generation nuclear plants with passive safety and 4th generation small reactors that burn their waste. However, the popular judgements on (fear of) nuclear power are based on the old reactors from the 1970's. These should probably be replaced with the new ones but that would be too expensive. Coal and gas are cheap and radiation is scary.
The whole problem could be solved with money, but the country is broke because we just gave about $5 trillion dollars to banks to cover their toxic debt.
Personally, I'm making the best of the warmer weather.
(-:
Posted on January 23 at 10:06 a.m.
It sounds like the rantings of a crackpot conspiracy theorist.
Maybe, but here is a prediction for 2013.
Within the next few months, the question of whether to bail out the FHA will become a political football. A story will be made up about how the FHA is helping to prevent foreclosures and it will receive a several-hundred-billion dollar bailout.
However, keep in mind that FHA mortgage insurance doesn't guarantee that defaulters get to keep the house, it just guarantees that the bank will get 100% of it's loan back. The FHA then auctions the distressed loans to collection agencies and private equity investors.
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Posted on February 14 at 10:34 a.m.
We should have listened to Ron Paul.
On Security Gates for Police Station