There's no mortgage market out there, above 700K govt. loans. Therefore the housing market is dead in high end areas, like the west side of LA. You can't buy unless you have the cash, which means that foreigners, try a lot of Chinese, some South Africans, are snapping up the prestige properties.
The average American consumer is 45% poorer because of the financial crisis. There's some survey released by the Federal Reserve that said that. Consumers rang up losses as the value of their houses and cars fell, and financial assets and retirement accounts plummeted in value.
It's imperative that boomers recover the lost value going into retirement and the US govt., read the politicized Fed, has made it impossible, except in the market, which is volatile at best.
Obama is wrecking the boomers, which is to say the white middle class. Let me help you out the door, don't let it hit you on the way, the end is Potter's field for you.
Today's Gallup polls suggest the word is getting out, even if subliminally. He has to raise the money from somewhere and that means the shrinking middle-class is the target. First they came for the rich, then the upper middle class, and now...
The only white demo he's holding on to is higher educated white women. I'm waiting for them to realize Obama's quotas, buried in every piece of legislation he's passed, are going to exclude their kids from all those soft govt, public service union and corporate PC jobs.
I don't see "wait and see." I see the corporations selling themselves to Obama, colluding with the govt to kill competition. Wall Street has led the charge. They created Obama and he has paid them back. Notice no criminal charges filed against any of them. The news is muted, hardly noticed by a nod from the MSM. A big chunk of the 45% lost by average Americans went directly into their pockets. Obama is their golum. The class warfare from his mouth is the height of hypocrisy.
Those who do best keep their mouths shut and swim in the sea as best they can. They have no ethics. They are the ultimate cynics, concerned only with doing the best for themselves, which means I want mine and screw everybody else.
This is the world the politicos have given us, and I include members of both parties. |
