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17
Feb

OMG I Think We’re Screwed

   Posted by: chris   in Fish Talk

Andy Warhol Portrait sells for 10.8 million poundsGreetings my beloved, I was going to say fucked instead of screwed but then I thought potty mouth, anyway it’s only a word but the verb holds true to reality and man we are truly if not really fucked.

The country is so broke that if it was a person they would have to invent a new chapter of the bankruptcy code to deal with this new form of being broke. It’s like broke with a capital T to the power of a big number.

So he who must be obeyed Change we can Believe in Obama decides hey guys I have a really neat idea lets cut Pell grants and WIC and see what happens.

For those of you who just woke up a pell grant is an educational grant to low income people, wic or women, infants and children is nutritional monetary aid paid to women with children who fall below the poverty guidelines.

I see someone with more money than sense just paid Sterling 10.8 million for a self portrait of Andy Warhol. That is like $17.44 million that someone had just lying around waiting for the rainy day when a 44 year old painting came to market.

Do you know why a painting sells for $17.44 million, you don’t and to think someone spent all that money sending you to college.

Economics 101 or plain stupid common sense dictates that something is worth what someone is willing to pay. But the catch is that to be willing to pay $17.44 million for a painting to hang on a wall someone had to have that $17.44 million that they really didn’t need.

They foreclosed on over 1 million US homes last year, 1 person at least lost a family home because they just didn’t have the money available to meet the mortgage loan repayment.

Do you know why mortgage payments are so high, because someone had money that they didn’t need just lying around and lent it to someone to buy a house that they couldn’t afford.

If there is no one to pay the asking price for a house the owner/seller has two choices, take it off the market or reduce the asking price to a level where there are buyers.

The reason for the sub prime crisis which totally messed up the world wasn’t that house prices rose out of control creating a bubble of mammoth proportion, nor was it that people bought houses that they couldn’t afford.

The reason was simply the availability of cheap money.

It appears that the nature of capitalism is inflation. We live in a let’s make some money society and I am not talking about a person or business making money, rather I am talking of the magic trick of pulling large sums of money out of a hat.

Do you know that when you take out a home loan for say $100K that the instant you sign the note the money appears.

The ledger balance created by the note creates the $100K. Do you fully understand that prior to you going to the attorney’s office and signing the closing papers the $100K that you are borrowing does not exist. It is the act of you signing the note that creates the money you are borrowing.

It is the interest attached to the loan that makes the world according to capitalism go round and the fact that you have inflated the economy by the amount of the loan is swept under the rug.

When the mole hill that is constantly being swept under the rug becomes a mountain the bubble bursts and the fan implodes in on itself.

What Wall Street calls a recession is actually a correction, the economy overburdened by the rising tide of an inflation that does not rise all ships equally needs to find equilibrium.

Or when people can’t afford to live in the economy which they form the economy must adjust to accommodate them, after all they are actually the economy.

The 500K dream house was really only worth 100K and the fool who bought it was watching Jersey Shore when he should have been doing an income/expenses exercise.

The mortgage broker, the realtor, the closing attorney, the lender and the seller only get paid when the loan closes and guess what, it is a let’s make some money world.

As someone of note once said there’s one born every minute-Sucker!

It appears it is the reason and purpose of the common man/woman to work their fingers to the bone so those who are privy to the alchemy of turning paper into money can live in luxury.

The house of Red Shield controls the worlds money supply, in and by that action they control the world, which inadvertently turns out to mean that they control you.

You are a mere resource, your reason is to serve your betters!

The fools in Egypt think they have won a victory, they will merely serve a new overseer who will still answers to the real MONEY!

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This entry was posted on Thursday, February 17th, 2011 at 2:26 pm and is filed under Fish Talk. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 comments so far

Mary
 1 

U know Obama cant be that bad. Think about it you could have been stuck with Cowen or worse still the prospect of Enda Kenny

February 25th, 2011 at 6:59 pm
eddie
 2 

When home price outpaced incomes measures had to be taken to ease lending standards to make over priced homes affordable to the masses

January 2nd, 2012 at 10:55 pm

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