Monday, June 22, 2009

"MONEY TIME!", IS THE CRY

More rain again today. Had it is the morning and now it is headed to 90 degrees. Sauna anyone? But I don't have it as bad as Kemp in Mississippi. He has days of forecast for 99 degrees. But my beans are growing like crazy down in the garden. It looks like anything we have in will do just fine. We just don't have a lot in the ground this year. Our forecast has NO RAIN for the next 4 days. Hard to believe. Especially when they get the long range forecast wrong so regularly. Nothing seems to have much moderation these days. You either have drought or your rivers are over flowing. I reckon our role is to do the best we can with what we get. That is what being a prepper is all about. Doing the best we can with the cards we have been dealt. No one reading this post has anything to do with the fiasco we are now facing. It has just come upon us and we must deal with it. So be it.

Obama has turned the cigarette industry over to the Food and Drug Administration. They will now make pronouncements concerning our smokes. They will probably stop torturing the cigarette makers when the price has gotten to $10 a pack. Waterboarding is torture but $10 a pack cigarettes is just good government. You believe that don't you?

Californicate is sliding down into the ooze of bankruptcy. By my calendar they have a little over a week before they face the music. Obama and the Fedgov have said no more money! You get your stimulus package and no more. Fine by me. California has the tenth largest economy in the world, or did have. Now they are busted. No money. So California will go back to square one and start over again. That means they will probably get out of this mess before the rest of the country does, because they went into the washing machine first. New York State is scheduled to follow after them. If you haven't been paying attention, all bets are off on July 1, 2009. That is the date the vast majority of next years budgets kick in for the states. It is the time when all the hanky panky bookkeeping will show up. What money that has been moved from next year to this year will become evident. A milion here, a million there, it all adds up and eventually someone will be called upon to pay up. No cry babies. I forget how many states will be starting their fiscal year on July 1 but it is far and away the majority of them. I wonder how many will go into bankruptcy? Ain't gonna be anyone to loan them the money! Most of the banks are the same as insolvent these days and are just making it from day to day. That is one of the reasons why there will be a Bank Holiday. One writer said it allowed the banks to get out of business gracefully and with no shame. The only problem with this is that you and I cannot get any of our money out of the bank during this time. Not allowed.

I read something I seriously doubt but I will submit to you readers for conformation or denial. I read where a regular mortgage was excusable and you just give up the house if you couldn't pay. But then the writer went on to say that if your had refinanced your home then you were NOT allowed off the hook like a regular mortgager. I haven't heard of this. If someone knows of it, please tell me the straight truth!

I'll go for now and see you later. I hope you have pleasant days and you stay alive.

Michael

mboone@rtccom.net

4 comments:

Bustednuckles said...

Sorry to see you are having more rain than you care for but glad to see you trapped in the house long enough to put up a few posts again.

vlad said...

I live within my income. California and others who do not live within their income deserve what they get. That's tough. That is especially tough for us because the thieves and whores we elect to congress are hawgasswild spending billions they don't have.

Can the republic survive?

Publius said...

Michael:
It's true about the first mortgage versus a refinance.

A first mortgage is a "non-recourse" loan, meaning that the bank can only repossess the house if you default. They can't come after you or garnish your wages, etc.

Not so with a refi- they can come after you even if they foreclose. They will come after you for the loss they took on the loan, if (as is certain today), they can't sell the house for what you owed.

It's damn hot up here in Minnesota, too... strange weather indeed. It's August weather in June. Not good for the old folks without AC, but good for the beans...

HermitJim said...

It's about time that some of these folks got a real welcome to the real world!

I saw videos yesterday of folks shoving each other in a fight over water rights!

Reminds me of the old western movies!