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Home foreclosures & Oil hit record high, while Washington Politicians sit Idly by Doing Nothing to Help Americans:

Thu, 7 Mar 2008 07:39:13 GMT

posted by MarcChamot
Home foreclosures & Oil hit record high, while Washington Politicians sit Idly by Doing Nothing to Help Americans:
By Marc Chamot

Washington outrage! Higher oil prices and we are losing our homes in record rates but nobody in Washington is really listening folks!

Since George Bush took office in 2000 oil prices per barrel were $27, and now over $104 dollars, a whopping 259% increase!

We got an asinine president like in George Bush dancing the Texas two-step on the steps of the White House waiting for a chronic Republican senatorial, and Republican nominee, a career politician and loser in John McCain to endorse him.

In the mean time we got two other career politicians Democratic presidential candidates jabbing at each other about the sad state of our economy, and huge home mortgage loses that’s weighting down our economy, traveling about the country instead of being in Washington doing something to help the millions of Americans struggling to survive and keep their homes!

Is anybody listening? What in the heck is going on with this country, mainly with these sorry and hapless politicians?

Did you know?

When President George Bush took office in 2000 our average price per barrel of oil was around $27.00, and within seven years of his administration our cost of oil has gone up to over $104 dollars per barrel! An average of eleven dollars a barrel a year when prior to his administration we averaged less than two dollars a year increase. During George Bush’s seven year our price of oil has gone up a whopping 259%!

So as always is, be damned with the American people, it’s just amazing how far out of touch Washington politicians are from its constituents and people.

About the Redo voting in Florida and Michigan:

Hell no! The delegates that Hillary Clinton has already won should be counted. No redo, Hillary Clinton made the effort to keep in touch with her voters there while Barack Obama chose to neglect them. Hillary won it out right; it isn’t Clinton’s fault that Barack Obama chose to arrogantly remove his name from these ballots!

Home foreclosures hit record high

By JEANNINE AVERSA, AP Economics Writer

WASHINGTON - Home foreclosures soared to an all-time high in the final quarter of last year, underscoring the suffering of distressed homeowners and the growing danger the housing meltdown poses for the economy.

The Mortgage Bankers Association, in a quarterly snapshot of the mortgage market released Thursday, said the proportion of all mortgages nationwide that fell into foreclosure shot up to a record high of 0.83 percent in the October-to-December quarter. That surpassed the previous high of 0.78 percent set in the prior quarter.

"Clearly it's the worst it's been," chief association economist Doug Duncan said in an interview with The Associated Press.

More homeowners — at the same time — fell behind on their monthly payments.
The delinquency rate for all mortgages climbed to 5.82 percent in the fourth quarter. That was up from the 5.59 percent in the third quarter and was the highest since 1985. Payments are considered delinquent if they are 30 or more days past due.

Homeowners with tarnished credit who have subprime adjustable-rate loans were the hardest hit. Foreclosures and late payments for these borrowers also swelled to all-time highs in the fourth quarter.

The percentage of subprime adjustable-rate mortgages that entered the foreclosure process soared to a record of 5.29 percent in the fourth quarter. That was up from 4.72 percent in the prior quarter, which had marked the previous high. Late payments skyrocketed to a record high of 20.02 percent in the fourth quarter, up from 18.81 percent — the previous high — in the third quarter.

The association's survey covers almost 46 million home loans nationwide.

"Mortgage credit quality is deteriorating fast," said Mike Larson, a real-estate analyst at Weiss Research.

The worsening foreclosure and late payment figures come as fears grow that the country is teetering on the edge of a recession or in one already.

The wave of foreclosures threatens to deepen the already severely depressed housing market. The homes people are forced out of add to the big glut of unsold homes already on the market. That forces even more cutbacks by homebuilders, taking a big bite out of national economic activity. Harder-to-get credit, meanwhile, has thwarted would-be home buyers, aggravating problems in the housing market.

Homeowners with spotty credit histories or low incomes who took out higher-risk subprime adjustable-rate mortgages have suffered the most distress as the housing market went from boom to bust. Initially low interest rates that reset to much higher rates have clobbered these borrowers. With home values dragged down by the slump, many borrowers were left with mortgages that eclipsed the value of their homes.

"Declining home prices are clearly the driving factor behind foreclosures, but the reasons and magnitude of the declines differ from state to state," Duncan said.

Even with relief efforts under way by industry and the government, Federal Reserve Chairman Ben Bernanke, earlier this week, warned that foreclosures and late payments on home mortgages are likely to rise "for a while longer."

The MBA's Duncan agreed. "We expect some increases in the next couple of quarters," he said. The economic slowdown, harder-to-get credit and lofty energy prices are adding to the strains, he said.

Against this backdrop, Bernanke called for additional relief and urged lenders to help distressed owners by lowering the amount of their loans. "This situation calls for a vigorous response," Bernanke said in a speech Tuesday.

Bernanke's recommendation for lenders to reduce the amount owed on troubled home loans goes beyond the position staked out by the Bush administration. The Fed chief, however, didn't go as far as to endorse some proposals embraced by Democrats on Capitol Hill.

Among the initiatives promoted by the administration is allowing some homeowners with certain subprime home loans to freeze their interest rate for five years. California and Florida continued to represent a disproportionate share of the country's new foreclosures.

The two states accounted for 30 percent of mortgages starting the foreclosure process, the association said. "In states like California, Florida, Nevada and Arizona, overbuilding of new homes created a surplus that will take some time to work through," Duncan said. That glut has pushed down house prices, he said. http://news.yahoo.com/s/ap/20080306/ap_on_bi_ge/home_foreclosures

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Act Now America

Thu, 27 Jun 2008 22:42:00 GMT

posted by shakuur

I have highlighted this video as it screams for Americans to take action. A picture can say a thousand words; this video multiplies that by over 100 billion. If we think it’s bad now what are we doing to our grandchildren? We have a responsibility to future Americans to bite the bullet and fix the financial mess we have made!

Please post your comments and pass this on to other concerned Americans. We can’t just talk among ourselves, contact your elected official and let them know your thoughts. On this site I do not endorse any candidate for president. The video I found on YouTube. If you have information about the national debt that you would like to share please do.

Welcome to our blog about Washington Politics

Tue, 9 Aug 2006 18:44:10 GMT

posted by The_Zimbio_Team
This is our group blog, which is unique because any Zimbio member can post an entry to it. Some members blog about recent news and trends related to the portal topic, others recount relevant personal stories. You can also comment on and rate existing blog entries, to voice your opinion and to help the community identify which members and entries on the portal are must-reads. Got an interesting idea or story to share with other members of this portal? Well, then put on your journalist's cap and add your own blog entry!

Politicians, Do the right thing for America!

Mon, 3 Jun 2008 20:00:00 GMT

posted by shakuur
Now that Senator Obama looks like the Democratic candidate and we get down to the main event. Let's talk seriously about the issues that concern Americans most. National security, illegal immigration and health care are the issues that most American want answers to. We can do better with our resourses than we have.

When you think about national security, the policies of the past 8 years have not made America any safer than we were before 9-11. The extremist, foreign and domestic are just as active and dangerous as they ever were. Osama bin Ladin is still alive and training terrorist. We are at war in two countries fighting a Vietnam style war. Mexico is having drug wars on our borders.

Illegal immigration is a three headed monster that most people in politics don't want to talk about. One, people are breaking the law by crossing the border illegally and entering the United States. These people are sometimes bringing illegal drugs with them. According to the Drug Enforcement Agency most of the illegal drugs that are in this country comes through Mexico. Two, the drain on our government services such as health care, education and legal system. American tax dollars are picking up the tab for those who undermining and disregarding the laws of our land. Three, Mexico is having a drug war on our southern border and the current administration plans to withdraw the National Guard from the border and reassign them somewhere else.

We are wasting our national treasures on things to fatten rich people pockets while those same dollars could have been used to pay for health care for those don't have it or the wasted resources could have also been used to fix social security. Hopefully the next administration will approach these issues that are important to the American people

D-Day Remembered--- FDR's Prayer; How far have Democrats fallen?

Wed, 7 Jun 2007 05:29:00 GMT

posted by PatriotsVoice
This is the prayer originally entitled "Let Our Hearts Be Stout" written by President Franklin D. Roosevelt as Allied troops were invading German-occupied Europe during World War II. The prayer was read to the nation on radio on the evening of D-Day, June 6, 1944, while American, British and Canadian troops were fighting to establish beach heads on the coast of Normandy in France.

The previous night, June 5, the President had also been on the radio to announce that Allied troops had entered Rome. The spectacular news that Rome had been liberated was quickly surpassed by news of the gigantic D-Day invasion which began at 6:30 a.m. on June 6. By midnight about 57,000 American and 75,000 British and Canadian soldiers had gotten ashore. American losses on D-Day included 2,500 killed and 8,500 wounded. (Patriot's Note: Such numbers would undoubtedly have been seen as "failure" and a "lost war" if current Democrats were in power then-- and today's ultra-Liberal Dems would never show such staunch allegience to our troops or Almighty God in such a manner).

Listen to the entire speech - 6:33

My Fellow Americans:

Last night, when I spoke with you about the fall of Rome, I knew at that moment that troops of the United States and our Allies were crossing the Channel in another and greater operation. It has come to pass with success thus far.

And so, in this poignant hour, I ask you to join with me in prayer:

Almighty God: Our sons, pride of our nation, this day have set upon a mighty endeavor, a struggle to preserve our Republic, our religion, and our civilization, and to set free a suffering humanity.

Lead them straight and true; give strength to their arms, stoutness to their hearts, steadfastness in their faith.

They will need Thy blessings. Their road will be long and hard. For the enemy is strong. He may hurl back our forces. Success may not come with rushing speed, but we shall return again and again; and we know that by Thy grace, and by the righteousness of our cause, our sons will triumph.

They will be sore tried, by night and by day, without rest -- until the victory is won. The darkness will be rent by noise and flame. Men's souls will be shaken with the violences of war.
For these men are lately drawn from the ways of peace. They fight not for the lust of conquest. They fight to end conquest. They fight to liberate. They fight to let justice arise, and tolerance and goodwill among all Thy people. They yearn but for the end of battle, for their return to the haven of home.

Some will never return. Embrace these, Father, and receive them, Thy heroic servants, into Thy kingdom.

And for us at home -- fathers, mothers, children, wives, sisters, and brothers of brave men overseas, whose thoughts and prayers are ever with them -- help us, Almighty God, to rededicate ourselves in renewed faith in Thee in this hour of great sacrifice.

Many people have urged that I call the nation into a single day of special prayer. But because the road is long and the desire is great, I ask that our people devote themselves in a continuance of prayer. As we rise to each new day, and again when each day is spent, let words of prayer be on our lips, invoking Thy help to our efforts.

Give us strength, too -- strength in our daily tasks, to redouble the contributions we make in the physical and the material support of our armed forces.

And let our hearts be stout, to wait out the long travail, to bear sorrows that may come, to impart our courage unto our sons wheresoever they may be.

And, O Lord, give us faith. Give us faith in Thee; faith in our sons; faith in each other; faith in our united crusade. Let not the keeness of our spirit ever be dulled. Let not the impacts of temporary events, of temporal matters of but fleeting moment -- let not these deter us in our unconquerable purpose.

With Thy blessing, we shall prevail over the unholy forces of our enemy. Help us to conquer the apostles of greed and racial arrogances. Lead us to the saving of our country, and with our sister nations into a world unity that will spell a sure peace -- a peace invulnerable to the schemings of unworthy men. And a peace that will let all of men live in freedom, reaping the just rewards of their honest toil.

Thy will be done, Almighty God.

Amen.

Franklin D. Roosevelt - June 6, 1944
The History Place - Great Speeches Collection