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Is it Raining?
Author: Raine    Date: 01/17/2008 13:39:05

"I would Gladly Pay you Tuesday for a Hamburger Today" J. Wellington Wimpy

The Wealthy may be next in line in U.S. home crisis.
The next wave of problems will come from prime borrowers who bought too much house or borrowed too much against it," said Michael van Zalingen, director of home ownership services at Neighborhood Housing Services of Chicago. A "prime" borrower is one with good credit.

Real estate agents warn that some high-income borrowers have already been forced to sell or leave their homes and more will follow. Especially those who used their homes as ATMs, withdrawing cash via home equity loans.

"For those who utilized home equity loans for five to ten years to finance their lifestyle, the chickens are coming home to roost," said Chicago-based real estate agent Marki Lemons.

I beg to differ. These are not wealthy people as the title of this article states. These are upper middle class people, at best. Actually they really are middle class, living larger than they can.

When the Sub prime market bottomed out a few months ago, newspapers across the country, including our very own local paper, the AJC, were filled with reader comments saying that people who fall victim to these loans and lose their houses deserve what they get, many reasons were written but the basic idea was that they should not have spent money they didn't have or they didn't deserve a home if they had bad credit. The comments went even further with many people saying that the government should not do anything because so many people felt, as they sat back in their nice upper middle class swivel throne and wrote to the editors "I pay my bills on time, I have good credit, why should I bail them out?" "If you can't afford to pay, why buy a house?" or the best... "They should have known better." Typical republican thinking I thought, but I tried to see their POV. I tried. I couldn't.

Well now the market of those very people who sat in judgement of the Subprime loan victims are at the precipice. The middle class. No, these people are not wealthy. (Thom Hartmann has wonderful riffs on this issue a lot) They have extended credit lines that they now must repay... and they can't.

As recently as December 29th, the president was telling us we had a strong robust economy. NOW, with just barely a year left in his administration, He says he is going to tackle the issue. I almost wish he would leave well enough alone.
Top congressional Democrats are calling for tax rebates aimed at low- and middle-income workers, as well as more food stamps and home-heating aid for struggling families. They also want construction projects to create jobs and additional unemployment benefits, and transitional health care coverage for workers losing their jobs.

"For millions of families, the recession is already here," Kennedy said at the Joint Economic Committee hearing. "Our plan should be focused on average Americans facing tough times."

Bush's economic stimulus plan, expected to be unveiled in his State of the Union address on Jan. 28, likely will focus on making permanent his 2001 income tax cuts, which otherwise will expire by 2011.

Bush's desire to stimulate the economy is nothing more than 'Stay The Course'. At least he acknowledges there is a problem, only took him more than half his presidency to do so.

There comes a point when you can't borrow anymore hamburgers. America seems to be very nearing that point. We were told that the economy has been great, we were sold a bill of goods. We believed them when they said we were prosperous.
When we saw the rising costs of energy and food, we were told that it was just our imagination. That everything was fine. So why was it so hard to pay the bills this month? Where did the money go? It is all connected, I guess. I pray that we elect a president who can get us thru this terrible version of a great economy the republicans seem to think we have.

Trickle down economics is nothing more than telling someone it's raining while they piss on the back of the poor and middle class. I think it is raining.

F*cking Fred.

:peace: and
Raine

100 comments (Latest Comment: 01/18/2008 03:10:43 by Mondobubba)
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Comment by Raine on 01/17/2008 14:24:08
Anyone here?



Good..

Comment by starling310 on 01/17/2008 14:33:33
Excellent Blog Raine.



Well now the market of those very people who sat in judgement of the Subprime loan victims are at the precipice. The middle class. No, these people are not wealthy. (Thom Hartmann has wonderful riffs on this issue a lot) They have extended credit lines that they now must repay... and they can't.




I understand the nuance and ramifications of this situation, but all I can is good; maybe now something will get done to remedy this financial plague. Not that I would wish hardship on anyone, but it seems the powers that be take action only when it affects them, or their country club buddies.



Comment by starling310 on 01/17/2008 14:35:18
Quote by Raine: Anyone here?



Good..




OMG! :rofl:



That was awesome!



Looks like it's just you and me. . .

Comment by shelaghc on 01/17/2008 14:37:08
Good morning.

My car is disintegrating.....



Comment by starling310 on 01/17/2008 14:40:50
I Jim's "Rush..." It's like the Grinch; only more fat.



Comment by Raine on 01/17/2008 14:42:14
Good morning!



I read that last night Shelagh! I hate when that happens!







Comment by Raine on 01/17/2008 14:45:47
Quote by starling310: Excellent Blog Raine.



Well now the market of those very people who sat in judgement of the Subprime loan victims are at the precipice. The middle class. No, these people are not wealthy. (Thom Hartmann has wonderful riffs on this issue a lot) They have extended credit lines that they now must repay... and they can't.




I understand the nuance and ramifications of this situation, but all I can say is good; maybe now something will get done to remedy this financial plague. Not that I would wish hardship on anyone, but it seems the powers that be take action only when it affects them, or their country club buddies.

I know what you mean. My first thought was indded the same. Good, maybe now something will happen...



MAYBE. I hope. I pray.





Comment by wickedpam on 01/17/2008 14:53:20
Morning! :hug:

Comment by Raine on 01/17/2008 14:55:56


The numbers are not matching up... The NEw hampshire Recount so far.

Comment by wickedpam on 01/17/2008 14:57:53
Sounds like the Huckster only wants to control women to me

Comment by wickedpam on 01/17/2008 15:03:22
Oh wow the Wham-O guy died!

Comment by livingonli on 01/17/2008 15:04:52
Good morning all. :coffee2:



I listened to most of the first hour while still lying in bed.



I still wish someone would stick Rush with a pin to see what happens.



Headline News is mentioning that Atlanta got snow.

Comment by starling310 on 01/17/2008 15:06:14
And now. A story about an Elephant Seal. . . or, many elephant seals.





http://www.aad.gov.au/asset/images/352_ul-Elephant_seal_pup.jpg


:wub2:

Comment by TriSec on 01/17/2008 15:07:24
*gurgle*



Comment by m-hadley on 01/17/2008 15:09:51
Good Morning Everybody,

I am just getting back to my office after doing an hour on the ref desk - what a way to start the day - ugh ;(



I'm glad that Steph is replaying the Rush obnoxiousness - what an A**Hole!!!

Comment by Raine on 01/17/2008 15:10:34


eep. I missed this Rush comment. What a peice of mysoginystic smelling rascist stempile of drug filled bloated assface!

Comment by starling310 on 01/17/2008 15:11:32
Rush's bit was just really not funny. I think that's the worst part.



Comment by livingonli on 01/17/2008 15:12:27
Quote by Raine:

eep. I missed this Rush comment. What a peice of mysoginystic smelling rascist stempile of drug filled bloated assface!


You should have heard the asshat caller John from Amherst who called in to defend Rush.

Comment by starling310 on 01/17/2008 15:14:57
Okay...I get the FREEBIRD thing.....I am GenX!

Comment by starling310 on 01/17/2008 15:16:26
Dear Rush,



Please leave the comedy to the professionals.



Sincerely begging you,

Starling


Comment by Raine on 01/17/2008 15:16:31
I think we have a small problem Barack...

From TPM:

Reagan Changed Direction Of Country In Way Bill Clinton Didn't

By Greg Sargent - January 16, 2008, 3:19PM

This is interesting -- Obama is turning up the volume of his argument with what he terms Clinton style "incremental" change, arguing that Ronald Reagan fundamentally changed the direction of America in a way Bill Clinton didn't.






Obama made his case in a sit-down interview with officials from the Reno Gazette-Journal...



For the full contest... here is the video:





Link to TPM.

================================



YOu know what? I would really prefer that NO democratic candidate EVER even beging to try to compare ANYTHING to RayGun.



The name to me is just evil. I understand what Obama is trying to say, but hell no... Don't use the RayGun!

Comment by Raine on 01/17/2008 15:18:22
:spew: They might lose Disrespect for you!

Comment by Raine on 01/17/2008 15:22:43
Quote by starling310: Okay...I get the FREEBIRD thing.....I am GenX!


But you are wise beyond your years.



:P

Comment by starling310 on 01/17/2008 15:25:32
Quote by Raine:
Quote by starling310: Okay...I get the FREEBIRD thing.....I am GenX!


But you are wise beyond your years.



:P




HA!



Speaking of the force, my coolest Christmas gift.

And the back says "Because the Force is with us."



Comment by wickedpam on 01/17/2008 15:27:32
Maybe they thought his head was up his ass? :shrug:

Comment by livingonli on 01/17/2008 15:29:00
Quote by wickedpam: Maybe they thought his head was up his ass? :shrug:


Like most Republicans.

Comment by starling310 on 01/17/2008 15:29:32
Quote by wickedpam: Maybe they thought his head was up his ass? :shrug:






Comment by wickedpam on 01/17/2008 15:34:26
Love the Clueless drop.

Comment by BobR on 01/17/2008 15:37:47
morning, folks... :coffee2:

Comment by Raine on 01/17/2008 15:38:04
South Carolina is going to be VERY interesting. I love the rumblings that the GOP is worried about a brokered convention...







Comment by Raine on 01/17/2008 15:39:23
I read about this, and i think that the push to take this court will not happen, the clintons filed too late.







Comment by starling310 on 01/17/2008 15:40:04
There should not be a single person who can't vote because they have to work.



Comment by Raine on 01/17/2008 15:42:59
BOTH mooks are for edwards!!!

Comment by wickedpam on 01/17/2008 15:44:11
What's the dude trying to say - I believe there are UFO's I mean they are called Unidentifed Flying Objects for a reason.

Comment by Raine on 01/17/2008 15:45:29
Quote by starling310: There should not be a single person who can't vote because they have to work.





So why are some people having issues with the fact that they are deciding to have caucus spots at casinos?



THIS IS WHERE THE PEOPLE WORK! And Las Vegas, sadly but true, does not shut down. I think this is a wonderful way to empower people to participate in the election process.



Comment by BobR on 01/17/2008 15:46:10
Quote by wickedpam: What's the dude trying to say - I believe there are UFO's I mean they are called Unidentifed Flying Objects for a reason.


That's what I keep trying to say. It's not the same thing as flying saucers.

Comment by shelaghc on 01/17/2008 15:46:15
I just realized I've been awake for over two hours and haven't even had my tea yet.



:-/



What a day.

Comment by Raine on 01/17/2008 15:47:19
Quote by wickedpam: What's the dude trying to say - I believe there are UFO's I mean they are called Unidentifed Flying Objects for a reason.
So logical, and yet, it makes sense!



I truly get tired of people talking out of their collective arses.



Comment by BobR on 01/17/2008 15:56:55
Today's awwwww moment:



http://d.yimg.com/us.yimg.com/p/nm/20080117/2008_01_16t130334_450x301_us_usa_dogs.jpg


Comment by wickedpam on 01/17/2008 16:02:56
PUPPIES!

Comment by BobR on 01/17/2008 16:10:15
Did bulldog puppies break the blog? :huh:

Comment by wickedpam on 01/17/2008 16:15:21
OMG She is Tracy Flick!

Comment by wickedpam on 01/17/2008 16:16:00
Quote by BobR: Did bulldog puppies break the blog? :huh:




Bulldog puppies don't break anything! THey are all sweetness and light :D



Comment by livingonli on 01/17/2008 16:20:29
So when does the Stephanie Miller newscast gets its restraining order from the "church" of Scientology.

Comment by starling310 on 01/17/2008 16:22:05
The woman who sits next to me has taken up smoking again. . .

As a smoker, I still say the smell when she comes back to her desk makes me want to





Comment by BobR on 01/17/2008 16:34:11
Quote by starling310: The woman who sits next to me has taken up smoking again. . .

As a smoker, I still say the smell when she comes back to her desk makes me want to





There might be non-smokers there that say the same thing about you... ;)

Comment by Raine on 01/17/2008 16:36:05


Comment by shelaghc on 01/17/2008 16:37:33
Okay - yesterday I picked up about six bottles of hooch to take back to the 'burgh with me so I can have a modestly proper bar.



Most of them I don't drink at all, but it'll be nice to have them on hand.



Here's my alchy list:

Smirnoff

Frangelico

Amaretta

Irish Cream

Kahlua

Barcardi Gold

Tanqueray

Jameson's

Martini and Rossi sweet and dry vermouths

Godiva White Chocolate Liquor

Cabernet Sauvignon 2004

Champagne

Yellowtail Merlot

Pinot Grigiot

Trader Joe's 2007 Ale (three bottles - it's the kind that they use corks to seal and is only available at this time of year)

Trinity Beer (2 six packs)

Newcastle Ale (2 bottles)

McEwan's Ale (2 bottles)

Leinenkugel Red (3 bottles)



Non-alch mixers anywhere, so I'm holding off till I get to the new abode.



How'd I do?

Comment by starling310 on 01/17/2008 16:38:34
Ok...producerchris's "Swag Hag" was perfect. But, the icing on the cake is Jim's chuckle. It's almost a Chris Matthews "HA! Fair enough." But, he leaves out the 'fair enough.'





Comment by starling310 on 01/17/2008 16:39:25
Quote by BobR:
Quote by starling310: The woman who sits next to me has taken up smoking again. . .

As a smoker, I still say the smell when she comes back to her desk makes me want to





There might be non-smokers there that say the same thing about you... ;)




Negative. I don't smoke at work. And, I am very particular about where I go if I have been smoking. I typically smoke at home, or at the theater with other smokers....Mmmm....that's about it.