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Gold/Mining/Energy : Big Dog's Boom Boom Room
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From: Sweet Ol12/2/2008 10:30:19 PM
26 Recommendations  Read Replies (2) of 206251
 
I played golf today with a friend who owns a real estate appraisal company here in Tulsa, where we have had minimal impact from the housing bubble and the resulting crash. He said they are busier than ever before. Their foreclosure business is up some, but the big mover is the FHA which has become the sub-prime lender of choice. All the scumbags who used to broker sub-prime loans now are selling FHA loans. 3% down, poor credit, no chance to make the payments, and all 100% guaranteed by the FHA who get their money straight out of our wallets.

So the mental giants in our government are creating a new housing crisis just as fast as they can. Gee, I wonder which WS banks will make a killing off of these loans?

But, hope is just around the corner. We will pay for all this by selling 100 year bonds and then we will set inflation in motion to make it easy to pay the coupons on those bonds. Finance is easy if you have no honor and no sense of justice and if you have no grandkids.

Best to all,

JRH
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