Snowy Day 1-20-09
Yate's Mill
See The Light
North Carolina Fall 2008
God's Amazing Beauty
Quiet Country
Friday, October 31, 2008
Over the next few days I plan to post as many of the videos as I can showing Barack Obama telling the American people exactly what he stands for. It is up to you as to whether you hear or not. This election is paramont. We cannot let this one guy ruin America! Remember Madeline Murray O'Hare? They said it couldn't happen and it did. I am telling you it can happen and we only have few more days for people to recognize the peril we are in.
Wednesday, October 22, 2008
Well, Now that We have Lemons
Well, now that the American people have bought a very LARGE box of lemons, let's get busy making lemonade.
I understand we are now in the banking business and I was thinking about how best to handle the $700 Billion package the administration and congress passed.
The American people are looking at this staggering figure and wondering what do you do with that kind of money? I thought I might make a few suggestions. I am not an economist and certainly do not claim to be an expert on finances. However, it is getting to be near Christmas, children every where are thinking about their wish lists, and so here is mine on how to turn lemons into lemonade.
First, since I am now in the banking business I would like to make some changes I think are in the best interest of the American people and I can't see a major downside to banks, either.
1st--Let's firmly take those lemons in our hands and squeeze.
How about an interest rate reduction for every single primary home loan in existence? I did say this was a wish list, right? How about a 25% reduction of every interest rate? If you have a 6% rate right now, the remainder of the loan could be at 4.5%. A current 8% rate would reduce to 6%. We have made all of these loans to people we knew would very likely not be able to pay them back so instead of sitting back and knowingly letting them fail, let's cut them a break, try to help them help us to get out of this mess!
Let's say you took out a loan for $150,000.00 for your primary residence. You put 10% down and got a 30 year fixed rate at 6%. Your payment should be approximately $719 a month. Now let's say you haven't been in the house very long and you still have a remaining balance of $135,000.00. But let's say, since we are now the bankers, we reduce that interest rate to 4.5% instead of the 6%. Your payment would now be approximately $684 a month. That's a difference of $35.00 a month. "Oh, that's not very much," you might say. But let's look at what the average American can do with $35 a month. They could buy 2 pairs of shoes for the kids. They could buy a couple of pairs of pants. Maybe buy fresh fruit for the first time in several months. It could be used to pay an extra amount on those credit cards (an even larger reduction in interest charges). Or, what about putting it in an savings account (I think the juice might just start flowing). Over the course of the year $35 a month turns into $420 a year. Over a ten year period it turns into $4,200. And I would need an amortization schedule to figure out what the savings would be throughout the course of the loan in quicker pay down of the principal. But anyway, it would be a great way to use our new banking opportunity to start making our lemonade.
2nd--Since we are in the banking business and we are trying to make lemonade out of the lemons we have been handed, and this is a wish list, how about we squeeze a little harder to make sure we get every ounce of juice.
Let's increase the interest rate the bank pays us for the use of our money! My present basic, straight savings account pays almost nothing, maybe a 2% APR. Let's increase that 25%. That makes the 2%, 2.5%. And let's say we have an IRA yielding 4%. A 25% increase would make it 5%. So an across the board rate increase for savings products! Yep, that will help us make lemonade, for sure!
Now, let's add some sugar to make sure that lemonade is VERY yummy!
How about, since we are in the banking business, we reduce those treacherous banking fees? How about abolishing that fee for taking money out of our overdraft account? It shouldn't cost $10-$25 to take our own money and move it around to make sure we cover the checks that will come in. At the least, it could be reduced to $2 or $5. Then let's talk about that $25-$35 fee for actually over drafting. Let's just cut that thing down to $15 or $20 at the max. Then, let's look at the bank charging us money to give them our money. Forget that! Free checking across the board no matter what type of balance you keep. If you want to reward those who keep a large balance, give them free checks or how about interest on their checking accounts? That might be too much trouble, but you can certainly reward them with a lollipop or something!
And finally, lemonade is really not all that great unless you include some ice cubes. It's got to be cold! So let's do some freezing. As bankers we can freeze the policy of making any additional loans to those who are really not qualified to get a loan. Those who don't have the qualifications could be linked to other investors who are more willing to make risky loans--NOT banks--at least not the banks using taxpayer money to stay afloat! Investors! Banks cannot continue to be expected to put their own businesses (and the taxpayer's money) in peril because of pressure from community organization groups and/or the government.
So there you have it! Camille's recipe for Banking Lemonade!
I understand we are now in the banking business and I was thinking about how best to handle the $700 Billion package the administration and congress passed.
The American people are looking at this staggering figure and wondering what do you do with that kind of money? I thought I might make a few suggestions. I am not an economist and certainly do not claim to be an expert on finances. However, it is getting to be near Christmas, children every where are thinking about their wish lists, and so here is mine on how to turn lemons into lemonade.
First, since I am now in the banking business I would like to make some changes I think are in the best interest of the American people and I can't see a major downside to banks, either.
1st--Let's firmly take those lemons in our hands and squeeze.
How about an interest rate reduction for every single primary home loan in existence? I did say this was a wish list, right? How about a 25% reduction of every interest rate? If you have a 6% rate right now, the remainder of the loan could be at 4.5%. A current 8% rate would reduce to 6%. We have made all of these loans to people we knew would very likely not be able to pay them back so instead of sitting back and knowingly letting them fail, let's cut them a break, try to help them help us to get out of this mess!
Let's say you took out a loan for $150,000.00 for your primary residence. You put 10% down and got a 30 year fixed rate at 6%. Your payment should be approximately $719 a month. Now let's say you haven't been in the house very long and you still have a remaining balance of $135,000.00. But let's say, since we are now the bankers, we reduce that interest rate to 4.5% instead of the 6%. Your payment would now be approximately $684 a month. That's a difference of $35.00 a month. "Oh, that's not very much," you might say. But let's look at what the average American can do with $35 a month. They could buy 2 pairs of shoes for the kids. They could buy a couple of pairs of pants. Maybe buy fresh fruit for the first time in several months. It could be used to pay an extra amount on those credit cards (an even larger reduction in interest charges). Or, what about putting it in an savings account (I think the juice might just start flowing). Over the course of the year $35 a month turns into $420 a year. Over a ten year period it turns into $4,200. And I would need an amortization schedule to figure out what the savings would be throughout the course of the loan in quicker pay down of the principal. But anyway, it would be a great way to use our new banking opportunity to start making our lemonade.
2nd--Since we are in the banking business and we are trying to make lemonade out of the lemons we have been handed, and this is a wish list, how about we squeeze a little harder to make sure we get every ounce of juice.
Let's increase the interest rate the bank pays us for the use of our money! My present basic, straight savings account pays almost nothing, maybe a 2% APR. Let's increase that 25%. That makes the 2%, 2.5%. And let's say we have an IRA yielding 4%. A 25% increase would make it 5%. So an across the board rate increase for savings products! Yep, that will help us make lemonade, for sure!
Now, let's add some sugar to make sure that lemonade is VERY yummy!
How about, since we are in the banking business, we reduce those treacherous banking fees? How about abolishing that fee for taking money out of our overdraft account? It shouldn't cost $10-$25 to take our own money and move it around to make sure we cover the checks that will come in. At the least, it could be reduced to $2 or $5. Then let's talk about that $25-$35 fee for actually over drafting. Let's just cut that thing down to $15 or $20 at the max. Then, let's look at the bank charging us money to give them our money. Forget that! Free checking across the board no matter what type of balance you keep. If you want to reward those who keep a large balance, give them free checks or how about interest on their checking accounts? That might be too much trouble, but you can certainly reward them with a lollipop or something!
And finally, lemonade is really not all that great unless you include some ice cubes. It's got to be cold! So let's do some freezing. As bankers we can freeze the policy of making any additional loans to those who are really not qualified to get a loan. Those who don't have the qualifications could be linked to other investors who are more willing to make risky loans--NOT banks--at least not the banks using taxpayer money to stay afloat! Investors! Banks cannot continue to be expected to put their own businesses (and the taxpayer's money) in peril because of pressure from community organization groups and/or the government.
So there you have it! Camille's recipe for Banking Lemonade!
Wednesday, October 8, 2008
http://article.nationalreview.com/?q=ZjRjYzE0YmQxNzU4MDJjYWE5MjIzMTMxMmNhZWQ1MTA=&w=MA==
I think my thoughts were on target. This has Obama's bloody hands all over it. He is bad news people! PLEASE see that before it is too late.
Also, if you get a chance get Dr. David Jeremiah's latest book, "What in the World is Going On?"
I'm only a couple of chapters into it but it is like reading the daily news. Islam IS the enemy and WE HAVE to recognize that before it is too late!
I think my thoughts were on target. This has Obama's bloody hands all over it. He is bad news people! PLEASE see that before it is too late.
Also, if you get a chance get Dr. David Jeremiah's latest book, "What in the World is Going On?"
I'm only a couple of chapters into it but it is like reading the daily news. Islam IS the enemy and WE HAVE to recognize that before it is too late!
Tuesday, October 7, 2008
See the Coffee and Smell The Truth!
http://www.foxnews.com/video2/video08.html?maven_referralObject=3137042&maven_referralPlaylistId=&sRevUrl=http://www.foxnews.com/hannityandcolmes/index.html
I couldn't get the video to embed in this blog, but the above link will take you to the video. Please take the time view it!
I've been saying it over and over. It's there, the evidence. People just must be willing to see the coffee and smell the truth! We are getting sold down the river. And while the black person might make a case that we deserve to be, it is the responsibility of every red-blooded American (African-American's included) to see the truth. Only the truth will keep us free. Obama is not for America's freedom. His history has spoken over and over again to the fact he is for freeing Obama and only those he deems worthy.
The economic mess has his hands all over it and yet the media refuses to state the obvious. His economic proposals and health care proposals in and of themselves will suck the lifeblood right out of this country! There is no way you can do the things he has proposed without the government digging deeper and deeper into your pockets.
He wants to take all of your money and then give it back to you at the government's discretion. And the above video shows you where he wants your money to go.
We need to stand up and take notice here! It's a bad deal!
I couldn't get the video to embed in this blog, but the above link will take you to the video. Please take the time view it!
I've been saying it over and over. It's there, the evidence. People just must be willing to see the coffee and smell the truth! We are getting sold down the river. And while the black person might make a case that we deserve to be, it is the responsibility of every red-blooded American (African-American's included) to see the truth. Only the truth will keep us free. Obama is not for America's freedom. His history has spoken over and over again to the fact he is for freeing Obama and only those he deems worthy.
The economic mess has his hands all over it and yet the media refuses to state the obvious. His economic proposals and health care proposals in and of themselves will suck the lifeblood right out of this country! There is no way you can do the things he has proposed without the government digging deeper and deeper into your pockets.
He wants to take all of your money and then give it back to you at the government's discretion. And the above video shows you where he wants your money to go.
We need to stand up and take notice here! It's a bad deal!
Friday, October 3, 2008
Go Sarah!
Just so you know I do not approve of some of the youtube videos that might be featured after you watch the one posted here.
Thursday, October 2, 2008
We Need To Fail!
I am more and more convinced every day that we simply need to fail! Yes, I said fail!
I believe in my heart of hearts that this is nothing more than Congress's secret weapon to throw this election. Remember, the October surprise? They were just forced to play their hand early.
First, every economists I read says only about 2% of homes are actually in foreclosure and that if we actually did nothing it probably would not lead to a major recession. We are being told the banks need more money to lend. That progress can't be had unless banks have more money to lend.
Yet, the reason banks don't "have enough money" is because the federal government has mandated that banks HAVE to lend a certain amount of subprime money. They have money to lend but because a certain amount of what they lend has to be to subprime borrowers and they are seeing more and more subprime mortgages go south they are bucking the system and demanding some relief from the rules they have been required to uphold. Or else, someone is nudging them.
If banks were freed from being required to lend to subprime borrowers, they would have the freedom to lend to those whom they know will repay and then the government wouldn't have to be involved at all, and that is as it should be!
The average American is sitting around saying, "What in the world is going on here?" Tens of thousands are calling their representatives demanding they refuse to saddle us with this debt and yet...there they go. The average American is saying, "Hey wait a cotton-pickin' minute!" They are still counting fingers and toes wondering what stupid policy would force banks to buy debt they know is very unlikely to get repaid anyway?
Greed, greed is this driving force.
Well, let's think this through a minute. If you lend to someone who has a good credit rating and you are fairly certain they will repay, you lend at 5%. That means you get a 5% return on your money. But now, let's consider the other side of the coin. If you lend to someone who is risky, who may or may not actually repay their loan, you are totally justified in lending at a 9% rate. That means you could get a 9% rate of return. which would you prefer? You can almost double your money. Look at the possibilities! Can you see the dollar signs going cha-ching? The banks (and the federal government at the hands of the Democrats) say well, we can have a certain amount of that because our actual investment is paid back in record time ($100,000 repaid at 9% gets back to the bank quicker than $100,000 at 5%) and if they pay well for the first few years we can usually recoup what we have in it and if they fail we can get the total of our investment back in collateral plus the payments that were made. And in a normal market, that's a win, win, win, go to Vegas, situation.
However, if the market has a dip, no matter how large or small, it causes grave forecasts and, keep you up at night, jitters! And I think that's what's going on.
There has been so much of the subprime activity it has flooded the market which itself has caused a great deal of failures because the competition has been removed. If someone can't pay the mortgage on this loan, then they dump the loan and run across the street and get another one. There is an excess of collateral on the market because it is so easy. And when the competition for the collateral has been removed the value of the collateral is also removed. Thus banks own foreclosed property that is not worth the loan they wrote for it. And why? Because our government insisted they make those loans. And are continuing to insist they make those loans. And, even after they infuse $700 Billion of American taxpayer money into the banking business they will continue to insist they make these subprime loans.
Alas, the October surprise in September:
And Congress, being Congress, has been searching and searching for just such a "emergency" to get the American focus off what we ALL ought to be focused on right now. They know their candidate can't possibly win on the issues alone. They know the American people were getting closer and closer to exposing just how anti-American their candidate is. They know they don't have a leg to stand on so their greatest hope is to divert attention away from the campaign for as long as possible.
If people are thinking of something else then that gives them less time to focus on what is really important. Congress's only challenge is to keep the attention for as long as possible. Mark my words, whatever happens will be finished as close to the election as possible, and not a moment sooner.
The bailout has failed twice and yet we are paying these people to keep the lights on so they can discuss it more and more and more. They are promising, someone (???), they will give them money soon. They are dropping all of the other issues we are paying them to focus on and instead keeping the press conferences coming. Everyday is a new reason they have to have the people's attention.
I find it just amazing that this is something our government has EVER encouraged. This philosophy that everyone deserves to have everything just because they made it out of the womb without being murdered along the way is ridiculous! Where is the hard work ethic that built this country? Where is the suffer the consequences if you mess up philosophy? Where is the take responsibility for one's own actions? The whole Democrat philosophy of, "Let the government get it for you" is so backwards from everything this country was built on!
It is NOT the government's responsibility to make sure you have a loan for a home. Your own hard work and fiscal responsibility is what should get you a loan.
It is NOT the government's responsibility to make sure you have food on your table. Your own hard work and determination should be the catalyst for putting food on your table.
It is NOT the government's responsibility to make sure you have health care handed to you.
Your healthy body is your responsibility. Making sure you are capable of seeking medical treatment as needed is your responsibility. If the government wants to do something strip the insurance companies of their rights to determine what is medically needed and not medically needed.
It is NOT the government's responsibility to fix all of our problems. This land did NOT become the great land that it is by it's people handing over every aspect of their lives for the government to fix aka control.
The more we let government in, the less freedom we have. The government cannot fix our problems and let us be in charge at the same time.
As a matter of fact, if the government would get out of our pocketbooks we would be so much more capable of addressing each of our needs and bringing them to pass. If the government wanting to help the economy they could give the people the $700 Billion so they could actually pay their bills. It just doesn't make sense to take MORE money from people who are already struggling to pay their bills. Wouldn't it benefit everybody if that money was given to the people or given to the mortgage companies to catch up people's loans, rather than given to banks to make them more liquid so they can make more bad loans?
I don't understand how people, who claim to love this country, can honestly believe sticking government's nose in private business is such a great thing.
This issue wasn't even on the radar screen until the Republicans began to pull ahead in the polls. So Congress's secret weapon emerged full force with, of all people, President Bush leading the way. Someone pulled his chain full force and there he is.
It's Congress's perfect scenario. We make the standing president look bad, we make this issue twist-in-the-wind to remove the focus from the election, eventually we pass something that gives government a mega amount of power over private industry, and when the next guy gets in we either use it for him or against him, depending on which one we can sway the people to. This so smacks of Hillary Clinton's hand prints!
I'm quite sickened by this whole mess. This congress has the lowest approval rating of any congress in the history of this country. They have sat on their hands and thrown the American people to the dogs in their efforts to continue to make the present administration look bad. And now, they are going to strap a $700 billion debt on our backs to help keep a totally flawed policy that the Democratic party created in the first place afloat. All so that, in another 4-5 years they can do it again.
Americans have every right to stand up and pitch an ever lovin' fit! American's should be calling and emailing their representatives and demanding that not only we not be strapped with this ridiculous $700 Billion bill but also that government get their greedy noses OUT of the banking industry. It is NOT government's place to demand high risk borrower's be granted loans they can't afford and then expect the American people to all pitch in! That is redistribution of wealth or more pointedly, redistricution of hard work. It is socialism at the least and will lead to communism.
We need to fail. We need to fail to get our heads screwed back on right!
I believe in my heart of hearts that this is nothing more than Congress's secret weapon to throw this election. Remember, the October surprise? They were just forced to play their hand early.
First, every economists I read says only about 2% of homes are actually in foreclosure and that if we actually did nothing it probably would not lead to a major recession. We are being told the banks need more money to lend. That progress can't be had unless banks have more money to lend.
Yet, the reason banks don't "have enough money" is because the federal government has mandated that banks HAVE to lend a certain amount of subprime money. They have money to lend but because a certain amount of what they lend has to be to subprime borrowers and they are seeing more and more subprime mortgages go south they are bucking the system and demanding some relief from the rules they have been required to uphold. Or else, someone is nudging them.
If banks were freed from being required to lend to subprime borrowers, they would have the freedom to lend to those whom they know will repay and then the government wouldn't have to be involved at all, and that is as it should be!
The average American is sitting around saying, "What in the world is going on here?" Tens of thousands are calling their representatives demanding they refuse to saddle us with this debt and yet...there they go. The average American is saying, "Hey wait a cotton-pickin' minute!" They are still counting fingers and toes wondering what stupid policy would force banks to buy debt they know is very unlikely to get repaid anyway?
Greed, greed is this driving force.
Well, let's think this through a minute. If you lend to someone who has a good credit rating and you are fairly certain they will repay, you lend at 5%. That means you get a 5% return on your money. But now, let's consider the other side of the coin. If you lend to someone who is risky, who may or may not actually repay their loan, you are totally justified in lending at a 9% rate. That means you could get a 9% rate of return. which would you prefer? You can almost double your money. Look at the possibilities! Can you see the dollar signs going cha-ching? The banks (and the federal government at the hands of the Democrats) say well, we can have a certain amount of that because our actual investment is paid back in record time ($100,000 repaid at 9% gets back to the bank quicker than $100,000 at 5%) and if they pay well for the first few years we can usually recoup what we have in it and if they fail we can get the total of our investment back in collateral plus the payments that were made. And in a normal market, that's a win, win, win, go to Vegas, situation.
However, if the market has a dip, no matter how large or small, it causes grave forecasts and, keep you up at night, jitters! And I think that's what's going on.
There has been so much of the subprime activity it has flooded the market which itself has caused a great deal of failures because the competition has been removed. If someone can't pay the mortgage on this loan, then they dump the loan and run across the street and get another one. There is an excess of collateral on the market because it is so easy. And when the competition for the collateral has been removed the value of the collateral is also removed. Thus banks own foreclosed property that is not worth the loan they wrote for it. And why? Because our government insisted they make those loans. And are continuing to insist they make those loans. And, even after they infuse $700 Billion of American taxpayer money into the banking business they will continue to insist they make these subprime loans.
Alas, the October surprise in September:
And Congress, being Congress, has been searching and searching for just such a "emergency" to get the American focus off what we ALL ought to be focused on right now. They know their candidate can't possibly win on the issues alone. They know the American people were getting closer and closer to exposing just how anti-American their candidate is. They know they don't have a leg to stand on so their greatest hope is to divert attention away from the campaign for as long as possible.
If people are thinking of something else then that gives them less time to focus on what is really important. Congress's only challenge is to keep the attention for as long as possible. Mark my words, whatever happens will be finished as close to the election as possible, and not a moment sooner.
The bailout has failed twice and yet we are paying these people to keep the lights on so they can discuss it more and more and more. They are promising, someone (???), they will give them money soon. They are dropping all of the other issues we are paying them to focus on and instead keeping the press conferences coming. Everyday is a new reason they have to have the people's attention.
I find it just amazing that this is something our government has EVER encouraged. This philosophy that everyone deserves to have everything just because they made it out of the womb without being murdered along the way is ridiculous! Where is the hard work ethic that built this country? Where is the suffer the consequences if you mess up philosophy? Where is the take responsibility for one's own actions? The whole Democrat philosophy of, "Let the government get it for you" is so backwards from everything this country was built on!
It is NOT the government's responsibility to make sure you have a loan for a home. Your own hard work and fiscal responsibility is what should get you a loan.
It is NOT the government's responsibility to make sure you have food on your table. Your own hard work and determination should be the catalyst for putting food on your table.
It is NOT the government's responsibility to make sure you have health care handed to you.
Your healthy body is your responsibility. Making sure you are capable of seeking medical treatment as needed is your responsibility. If the government wants to do something strip the insurance companies of their rights to determine what is medically needed and not medically needed.
It is NOT the government's responsibility to fix all of our problems. This land did NOT become the great land that it is by it's people handing over every aspect of their lives for the government to fix aka control.
The more we let government in, the less freedom we have. The government cannot fix our problems and let us be in charge at the same time.
As a matter of fact, if the government would get out of our pocketbooks we would be so much more capable of addressing each of our needs and bringing them to pass. If the government wanting to help the economy they could give the people the $700 Billion so they could actually pay their bills. It just doesn't make sense to take MORE money from people who are already struggling to pay their bills. Wouldn't it benefit everybody if that money was given to the people or given to the mortgage companies to catch up people's loans, rather than given to banks to make them more liquid so they can make more bad loans?
I don't understand how people, who claim to love this country, can honestly believe sticking government's nose in private business is such a great thing.
This issue wasn't even on the radar screen until the Republicans began to pull ahead in the polls. So Congress's secret weapon emerged full force with, of all people, President Bush leading the way. Someone pulled his chain full force and there he is.
It's Congress's perfect scenario. We make the standing president look bad, we make this issue twist-in-the-wind to remove the focus from the election, eventually we pass something that gives government a mega amount of power over private industry, and when the next guy gets in we either use it for him or against him, depending on which one we can sway the people to. This so smacks of Hillary Clinton's hand prints!
I'm quite sickened by this whole mess. This congress has the lowest approval rating of any congress in the history of this country. They have sat on their hands and thrown the American people to the dogs in their efforts to continue to make the present administration look bad. And now, they are going to strap a $700 billion debt on our backs to help keep a totally flawed policy that the Democratic party created in the first place afloat. All so that, in another 4-5 years they can do it again.
Americans have every right to stand up and pitch an ever lovin' fit! American's should be calling and emailing their representatives and demanding that not only we not be strapped with this ridiculous $700 Billion bill but also that government get their greedy noses OUT of the banking industry. It is NOT government's place to demand high risk borrower's be granted loans they can't afford and then expect the American people to all pitch in! That is redistribution of wealth or more pointedly, redistricution of hard work. It is socialism at the least and will lead to communism.
We need to fail. We need to fail to get our heads screwed back on right!
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