Is This the Right Time To Buy?

n a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?


The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.

He believes people will vote against their own interests.

Let's teach him we are smarter than that .

Hold them accountable NOW! while it will still help.

Elect Obama Biden 2008

Differences in the 2 Candidates Approaches Toward Solving the Financial Crisis:

John McCain
- Intuitively ready to lead!
- I will postpone for the balance of the week my political campaign in order to participate in helping to solve the national financial crisis by investigating the proposals, and then accepting, rejecting, or modifying them.

Barack Obama
- Bewildered as to whether and how to respond!
- Why isn???t this darn teleprompter working?
- What - you expect me to actually make a decision? Can???t I just say ???Present????
- Bill Ayers is providing my talking points - I hope they don???t ???bomb???.
- Come on mainstream media - cover for me!
- Oh ...err ... ah ... Did I tell you that I received an affirmative action (no, STRIKE THAT) law degree from Harvard?
- How do you like my new empty suit?
David Axelrod thinks that it actually makes me look competent.
Barbara Streisand gave it to me.
- Did I tell you that I, let???s just say, acquired some new lipstick to give to Michelle, my belle?
It should help her to look somewhat presentable, but nowhere near as good as that intelligent capable hot babe - Sarah Palin.
- I need a vacation - can I take another one now? I never did like America.
- You???re just being racist by expecting me to help solve this financial crisis.
- Let???s just CHANGE the subject, and HOPE that I can look competent next time.

I believe that many are to blame. I saw my house raise by $20,000 from the time I talked to the guy to 1.5 months later when I decided to buy. I, fortunately, could afford this home; however it was in a drug infested neighborhood where crack was being sold on the steps, in the midwest for nearly a quarter of a million dollars 5 years ago. If I was someone who wanted to live in an "affordable, bad neighborhood" with a failing school system, and interest rates where what they were would that make them greedy??????? people where selling okay houses at unreasonable amounts, so not everyone was greedy.

Fred Norris seems to think the economic problems are the fault of the "little guy"
If you have a loan where the payment doubles and then triples, you have a loan designed for foreclosure.
With that in mind forclosures are not the problem they are part of the plan.

$700, billion is not what the banks are losing, it is more than the amount of the subprime loans in total, so the banks write off the entire amount of the foreclosed loan and the profit when the foreclosed propoty is sold.

The actual bank loss on foreclosed subprime mortgages is only 15% of $700 billion.

It's good to see the overinflated house prices come tumbling down. About time some economic reality hit the real estate market that has lived in FantasyLand for the past 30 years. Maybe now people can afford to buy their first home without those pesky real estate tycoon wannabe's buying up properties and artificially driving up prices.

Homes will be foreclosed on one individual and sold again to another individual at a lower rate and the corrupt cycle of affordable housing will continue as bonuses get passed out asnd history repeats itself with dishonest people. Honest middle class people must have a sizeable downpayment and their monthly note must not exceed 30% of their wages after other expenses.This affordable housing for minorities (blacks) will come full circle as the world laughs at our affirmative action in housing and jobs. This is indeed a sick joke perpetrated on middle and upper income people but is is not a laughing matter.

YES Buy Now -- with the cash the gov't give you guys for the bailout. Funny, they will take the millions in bonus's and buy up all the distressed homes that used to be owned by good citizens, who, have had their jobs transferred out of the country. Good Call!