A post by Jim Fitch of .
The real purposes of a democratic society cannot
be achieved by violence and destruction. .
: The housing market continues to deteriorate. Unemployment is rising. National retailers are seeking Chapter 11. The economy is slowing, if not in recession. Auto sales are non-existent. Americans have drastically cut their leisure travel. Based on this declining demand, the price of petroleum has fallen. Yet ““
: When I bought my first house, the rule was 20% down and not more than 2.5 times primary income. Of course those ratios were based on years of experience, not modern economic theory.
: The fighting between Georgia, Russia and South Ossetia doesn’t have anything to do with the pipeline, does it? Can’t have an oil war and not invite the US. An all-out war between Russian and Georgia would be about as helpful to the world economy as the planned US/Iran conflict.
How many investment houses will buy-back dubious paper, now that Citibank and Merrill Lynch have shown the way? (a) less than 5 (b) more than 9 (c) how many are there?
… Credit’s crumble is starting to squash US consumer credit. If American plastic dissolves, there’ll be nothing left but actual cash. No mortgages, no credit, no consumption. Imagine a world where people buy necessities for cash and save for everything else. ‘Save’ – it’s an old timey word; look it up.
: Wal-Mart: anti-union, biggest of big business, doggedly anti workers-rights, champion of healthcare-less cheap labor is now one of the largest givers to the Democratic Party. Wonder what they expect in return? Worse, what have they been promised?
: The Bush administration drew up a response to Congress’ questions about a new cybersecurity program, then redacted everything including what the program was designed to do, the names of the contractors who may or may not be working on whatever the program may be, and how much all this was going to cost. It did state, however, that the privacy of US citizens will be protected.
: Displaying the courage that has become common in the US since 9/11, Random House has ‘postponed indefinitely’ publication of a novel about the Prophet Mohammed’s child bride, fearing it could “incite acts of violence”.
: The US military is housing prisoners in cute little boxes, three feet deep six feet long and six feet high. The prisoners are checked frequently and revived when necessary.
somewhat cynical view of the world on a daily basis. Think of it as having coffee with a curmudgeon. Come visit; bring your own coffee.