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Folks from all over the world have accessed this site. The desire to be free of the shackles of fascism, socialism, communism and progressivism are universal. Folks just want to live their lives and be left alone... Dammit!


"People don't like to be meddled with. We tell them what to do, what to think. Don't run. Don't walk. We're in their homes, and in their heads, and we haven't the right. We're meddlesome." River Tam referring to the government.

Not Politically Correct. . .

"Be not intimidated...
nor suffer yourselves to be wheedled out of your liberties by any pretense of politeness, delicacy, or decency.
These, as they are often used, are but three different names for hypocrisy, chicanery and cowardice."
- John Adams

Abraham Lincoln

To quote Jack Donovan’s Violence is Golden: ‘Without action, words are just words. Without violence, laws are just words. Violence isn’t the only answer, but it is the final answer.’

In a world gone mad we are the villains. We wield the truth and the light. In the end we will only be answerable to ourselves and our God. If we win then we inherit the earth, if we lose we get to Heaven.

Monday, October 12, 2009

U.S. States Suffer "Unbelievable" Revenue Shortages ! ! ! ! !

This from The Automatic Earth:


"It's crazy. It's really just unbelievable," said Scott Pattison, executive director of the National Association of State Budget Officers, and called the states' revenue situations "close to unprecedented."

They don't know the half of it.   Just wait till 2010 rolls around and all that commercial property comes off the state tax rolls.

Want to know more?  Click here and scroll down or here.


This from the Market Ticker:
Barney Frank, the Massachusetts Democrat who is chairman of the House Financial Services Committee, said in an interview that the defaults were, in essence, worth it.
“I don’t think it’s a bad thing that the bad loans occurred,” he said. “It was an effort to keep prices from falling too fast. That’s a policy.”

Got it?   It's a policy to screw the state and local governments.
Huh, you say?  It's simple, really: State and local governments rely on property tax revenues.  Yet defaulted mortgages don't pay property taxes.  Yes, there's a lien on the property but this doesn't help the municipal budget now.
Tax revenues used to pay teachers and fuel police cars continue to trail even the most pessimistic expectations, despite the cash from the economic stimulus plan pouring into state coffers.
"It's crazy. It's really just unbelievable," said Scott Pattison, executive director of the National Association of State Budget Officers, and called the states' revenue situations "close to unprecedented."
 Want to know more?  Click here.



  If this wasn't enough to worry about. . .   

Check this out from Naked Capitalism via Washington's Blog:


You know all about the subprime, alt-a, option arm, and commercial real estate crises.
You’re well-aware of the house of cards built with credit default swaps, securitized assets and other exotic investments.
You’ve heard about the massive debt overhang threatening individuals, companies and the country as a whole, and the massive de-leveraging which is still to occur.
You’re aware of the soaring unemployment rate, the tapped out consumer, and many other economic problems.
But do you know about the demographic crisis?
What Demographic Crisis?


Want to know more?  Click here.

This from Contrarian Profits:

Credit Watch: $400 Billion in Leveraged Loans About to Go “Pop” 

Most investors’ eyes are on stocks right now. And for many stock optimists the credit crunch is ancient history. Not so, says global finance insider Simon Mellon.
According to Simon, we may be looking at another serious credit blow-up in a dark corner of the credit markets known as leveraged loans. So if you think the credit crisis is over, think again. 

Want to know more?  Click here.