from mike morgan....he seems genuinely shocked that politcians lips move=lies
realestateandhousing2.blogspot.co....
Obama . . . Hypocrite or Psychopathic Liar
Despite Obama’s pledge to control lobbyists, I am being bombarded this week about the efforts being made in Washington on behalf of the builders. It’s not just bad, it’s downright criminal.
We ARE going to see a huge Builder-Bill pass as part of the StimUseless package. I’ve received more communication about the lobbyists efforts on behalf of builders, than anything else in the last few months. It’s stunning just how powerful they are and how these guys have both the Republicans and the Democrats in their pockets. The sad thing is . . . Washington is not helping homeowners, but they are actually going to make the problem worse.
1 - By keeping the builders in business, they will continue to add inventory that we don’t need.
2 - The proposals we are seeing are builder and banker friendly at the expense of the taxpayer.
3 - The proposals appear to be homeowner friendly on the surface, but long term the effects are devastating. Trying to keep people in homes they cannot afford is a losing proposition. Lower interest rates and providing complicated tax credits will backfire. It sounds good, so both sides vote for this . . . because it helps them get re-elected. Moreover, no one will be able to point a finger two years, from now, because what these crooks are doing will be lost in the shuffle.
This is why the builders are rallying. I obviously underestimated the failure of Obama to honor anything he seems to have been elected to do, and I underestimated the power of the lobbyists these builders have hired . . . with our money. But the end result is the same. The builders will eventually move lower, as most of them will be out of business.
As we move into the Depression, which Obama seems to be guaranteeing on a daily basis with his inactions and turnover of government to the lobbyists he said he loathes, the housing market will deteriorate further, harder and into an abyss that nothing but rock bottom despair will turn around.
One final note. The level of foreclosures coming through our residential real estate business is at a peak now. I am turning away 75% of the emails we receive with foreclosures!!!! I still want to be short the builders, but it may take longer than initially expected to close out all of our trades at the profits we want. With all that is going on, I would wait till next week to short more. Wait till this news hits the media, and then you can short more.
P.S. I sent this to one of my information sources today. . . . After receiving your stuff, I puked, and then I decided to put something out for my clients. Obama is not only a hypocrite, I think he is a psychopathic liar. He doesn’t even realize he’s lying. For him it is so natural, that it is his very essence. Just think about when he said he sat in the church for 20 years and never heard any of Reverend Wright’s garbage. We are in deep trouble. Obama has only put out one truthful statement . . . we are headed for a catastrophe.
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