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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (46062)	2/1/2009 11:19:22 PM
From: Webster Groves	Read Replies (3) \| Respond to of 219858

In the 1950s most people did not go to college, so why the fuss ? Rejected at Ivy U ? wg

To: Elroy Jetson who wrote (46062)	2/1/2009 11:37:19 PM
From: elmatador	Respond to of 219858

Elroy is completely right. Throwing diplomas at the economy is the result of the lobby for more money for education. This resulted in the US spending more money on education that other countries who get better results with less money. Same thing in emerging markets. Education means erudition. Brazil spend as much money per capita -in a percentual basis- as other countries but the money is spent for university degrees and not for basic education. This is the so-called brain drain that feeds OECD countries with cheap eductaed people. Mean while Pole climbers do not get competition and run away with the money.

To: Elroy Jetson who wrote (46062)	2/2/2009 4:53:56 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 219858

I am not as familiar with the US during the 1950 so it may be that I made a mistake - I assumed that education was more important then from what it is now

To: Elroy Jetson who wrote (46062)	2/2/2009 11:13:42 AM
From: energyplay	1 Recommendation Read Replies (1) \| Respond to of 219858

Ramsey Su has an article in Saturday's Wall Street journal - commerce.wsj.com or try - online.wsj.com ******************************* Excerpt ******* Why Be a Nation of Mortgage Slaves? By RAMSEY SU Preventing foreclosures has become a top priority of politicians, economists and regulators. In fact, allowing foreclosures to happen has merit as a free-market solution to the crisis. If the intent is to help homeowners, then foreclosure is undoubtedly the best solution. Household balance sheets have been destroyed by taking on too much debt via the purchase of inflated assets. With so little savings, a household with negative equity almost implies negative net worth. Walking away from the mortgage immediately repairs the balance sheet. Credit may be damaged, but homeowners can rebuild it. And by renting something they can afford, instead of the McMansion they cannot, homeowners are most likely to have some money left over each month that they can save toward a down payment on a house they can eventually afford. If the intent is to help the credit markets, then foreclosure is undoubtedly the best solution. The securitization model has proven to be flawed. .... Consider a property that sold for $500,000 at the peak, financed with a $400,000 first lien and an $80,000 second lien, which is now worth $300,000. The second lien is worthless, but the lien will remain as a cloud which complicates any modification effort by the senior lien holder. There is no incentive for the junior lien holder to voluntarily agree to a modification. Foreclosure would be the best and finite action. It wipes the slate clean. ... Toxic financing abruptly stopped during the spring of 2007. By that summer, there were no more 100% financing, negative amortization option ARMs, piggyback seconds, or the now-infamous NINJA (no income no job no assets) loans. Even though real-estate prices have continued to decline, post summer 2007 purchases are by a different class of buyers financed by loans with much tighter underwriting guidelines. We are at a crossroads. The time line of the default and foreclosure cycle is about to hit 2007 vintage loans. If the default rate on them is lower than for loans made from 2004 to early 2007, it would be the confirmation of a turning point. .... With the government in total control of the Federal Housing Administration, Fannie Mae and Freddie Mac, this is the perfect opportunity to reform the secondary market. Finally, loan modification is not only ineffective, it is evil. Coercing borrowers to continue paying a mortgage on a home that is hopelessly overvalued and not informing them of alternatives is predatory lending. The media should interview those who had been foreclosed upon. Do they feel sorry or relieved? .... The intent of modification programs to date is to create a generation of mortgage slaves. Fortunately, mortgage slaves can free themselves via foreclosure, and the masses are choosing to do so. Mr. Su is a real-estate consultant and a former REO broker.

To: Elroy Jetson who wrote (46062)	2/3/2009 2:52:24 PM
From: elmatador	Respond to of 219858

Brad Pitt Puts Malibu Mansion Up for Sale moving to Brazil with partner Angelina Jolie and their six children. I think he ends up staying there... LOL! Brad Pitt Puts Malibu Mansion Up for Sale Atlanta, GA 2/03/2009 07:24 GMT (TransWorldNews) Brad Pitt is reportedly selling the Malibu home he bought following his divorce from Jennifer Aniston. The actor purchased the $18 million home in 2005. The property boasts an ocean view, a large swimming pool and tennis court. No other details were available. Pitt is rumored to be moving to Brazil with partner Angelina Jolie and their six children. According to reports, the couple will temporarily settle in the South American country while Pitt films his next movie ‘The Lost City of Z.’