Posted on 11/29/2008 6:53:30 AM PST by knighthawk
Meltdown Far From Over, New Mortgage Crisis Coming !
Excerpt:
The full scope of the housing meltdown isn't clear and already there are ominous signs of a new crisis -- one that could turn out the lights on malls, hotels and storefronts nationwide.Even as the holiday shopping season begins in full swing, the same events poisoning the housing market are now at work on commercial properties, and the bad news is trickling in. Malls from Michigan to Georgia are entering foreclosure.
Hotels in Tucson, Ariz., and Hilton Head, S.C., also are about to default on their mortgages.
That pace is expected to quicken. The number of late payments and defaults will double, if not triple, by the end of next year, according to analysts from Fitch Ratings Ltd., which evaluates companies' credit. * * *
Time to wake up, people. Yada, Yada This Shi'ite is just getting started. Don't say I didn't warn you. Check my freeper page.
I’m a long way from a finance expert, but I read somewhere that residential and commercial loans were bundled together, or separately, then sold in a group as securities (`tranches’?) and a whole bunch of them bad boys are coming due soon.
Well, Senator Shelby, who has shown impressive leadership, got the bill out of committee and the Bush Administration supported it but the Democrats killed it.
Which is what makes it such a target for satire.
The people who stopped the regulation that might well have prevented the crisis, or at least made it less harmful, have gotten away, thanks to the MSM, with blaming those that did try and do something for their malfeasance and are, astonishingly, thanks to the free ride given to Obama, put in charge of cleaning up their own mess while continuing to falsely blame it on Bush and the Republicans.
Have you seen George W. Bush on television recently? He looks horrible.
USAF Deseret Storm veteran here.
I remember like it was yesterday having to leave my family to go to England because a terrorist named so-damned insane and his sons had invaded Kuwait, this after already having an 8 year long war with Iran that killed millions on both sides, burning civilian kurds with chemicals, was actively building nukes until the Israelis razed their nuke facility in the 80’s...who launched scuds at Israel and Saudia Arabia...etc.etc.etc.
After all that the @sshole was STILL given 12 MORE years and 18 MORE resolutions to striaghten up, but instead he put my fellow airmen patrolling the no-fly zone in jeopardy and it was recently disclosed the U.S. just moved several TONS of yellow cake from Iraq to Canada, so I ask, when did this terrorist @sshole stop being a terrorist @sshole and was determined to no longer to be a threat and turned over a new leaf between then and 2003, because I for one SURELY missed it!
History books will reveal that this was the right thing to do, not just because the world is a better and safer place without this @sshole and his @sshole sons in it starting wars with virtually all of it’s neighbors and killing millions of its own people and pursuing nukes; but chiefly because the hardcore suicidal terrorists...including much of al-qaeda were drawn into this vacuum to fight our troops as opposed to attacking civilians all over the world including U.S soil.
IF Iraq is ever abandoned to Iran it most certainly will not be on W’s watch!
BTW, bin-laden is in no position to EVER travel outside of his 2-3 caves.
As it stands the largest threat to the mid-east: Iran, is now flanked on one side by Iraq, the other by Afghanistan. We have bases there, and therefore a presence for a long time to come, to some degree even if the zero undermines all the progress made. Even as big an idiot as he is, HE will not want to be the one in history books that wants his presidency known for abandoning Iraq.
>> Did you know Frum is Canadian? <<
Yep, just like Mark Steyn.
So I guess we’re not allowed to say anything nice about either chap?
“Bush likes to claim he brought freedom to millions”
He did. Millions of Iraqis are now free from Saddam’s tyranny.
“but the new Iraq is even less tolerant...”
Yeah, those hundreds of thousands of dead Iraqis found all over Iraq in mass graves died of natural causes./s
“We should have insisted on a constitutional republic that respected religious minorities.”
Iraq is a constitutional republic. Their democratically approved constitution specifically grants freedom of religion. I’ve had this argument with the far left many times. The only thing they (and you) can do is cite criminals like al-qaeda and al-Sadr fighters violating people’s religious freedom and pretend it is sanctioned by the democratically elected government of Iraq. In reality, the GoI sends their army to capture and kill these thugs.
Amen and thank you for your service. I would just add, “should have gotten bin Laden first” is the straw man of all the anti-Iraq bloviators. Some good folks such as tpanther killed him seven years ago.
Thank You.
All too often the same people that were criticizing Bush #1 for not deposing Saddam are the same people bashing Bush #2 for deposing Saddam.
GO FIGURE!
Another expert. You should be at the Pentagon. Why are you wasting your know it all talent here?
Bush has been the most abysmal excuse for a Republican president since U.S. Grant. He deserves nothing but our rebuke and a place in the dustbin of presidential failures; right along side of Jimmy Carter and Bill Clinton!
Absolutely.
My beef is morons (like me) who use “to” instead of “too” when nitpicking someone else’s grammar. (I swear I know the difference - I just changed the wording around and ended up with an extra “to.” I didn’t mean to use “too” at all.)
http://www.freerepublic.com/focus/f-religion/2100579/posts
http://www.freerepublic.com/focus/f-news/2089203/posts
Maybe their "constitution specifically grants freedom of religion," but maybe they treat their constitution like just another piece of paper like the left does with ours.
RE: “'but the new Iraq is even less tolerant...' Yeah, those hundreds of thousands of dead Iraqis found all over Iraq in mass graves died of natural causes./s"
Please quote in context. I said "the new Iraq is even less tolerant of religious minorities" The evidence I have seen indicates the Christian population in Iraq is in far more distress now than prior to the war. That may be in part due to weakness of the government, but I also doubt the zeal of the enforcement in this area.
A quote from the second article I linked to: "The only truly safe place for Christians, Jews or any other religious minorities in the Middle East is a strictly enforced secular system." If we didn't set up a strictly enforced secular constitutional republic, then we messed up. And I'm pretty darned sure that isn't what we set up.
Not to mention that most of them supported John McCain which would have been another 4-8 years of Bush policies.
Sometimes I wonder why I stay around this site. After 8 years I'm really getting sick of the fair weather bastards.
bookmark for later
“You are echoing what appears to be the official position of the administration”
No I’m not, I’m stating fact. Iraq is an internationally recognized constitutional republic. You’re spouting a bunch of anti-war nonsense that isn’t supported by fact. You claimed that Iraq is a mob-rule democracy, when in fact it is a representative republic, as described within their constitution. You are pretending that they are a Islamic dictatorship, when in fact they are a constitutional republic who upholds freedom of religion to the best of their current ability. They are gradually getting stronger at controlling their own nation, and securing the constitutional freedoms to their people. Perhaps you are pretending that they are supposed to look identical to a western nation like America in only five years, when in fact they have been fighting against Iranian and al-qaeda backed terrorists the whole time. You anti-war propagandists keep setting the bar higher so you can declare failure.
“And I’m pretty darned sure that isn’t what we set up.”
It’s what the Iraqis set up with the help of America and other nations. The radicals that you anti-war defeatists had pinned your hopes to so you could call Iraq a failure are loosing. If you had any knowledge of the subject, you would know that a democratically elected government has already approved a constitution and you would be familiar with the principles of this constitution. You are not.
Article 2:
First: Islam is the official religion of the State and it is a fundamental source of legislation:
A. No law that contradicts the established provisions of Islam may be established.
Perhaps it is you who is not familiar with the principles of this constitution. Yes, it does go on to say the following:
Second: This Constitution guarantees the Islamic identity of the majority of the Iraqi people and guarantees the full religious rights of all individuals to freedom of religious belief and practice such as Christians, Yazedis, and Mandi Sabeans.
It is my belief that the religious liberties guaranteed in "Second" are incompatible with the establishment of Isalm in "First."
I had concerns about the religious liberties of the Christian population when the constitution was drafted. I believe now those concerns were well-founded. I think we should have mandated a secular, not Islamic, constitutional republic.
Well, I live here surrounded by liberals that make the people at Berkely look modest hehehe.
I sure wish my trip to your locale in 2003 hadn’t had to be canceled due to a job change. I could have told you some grand old stories.
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