Thursday Links
Clyde 3YB. Photo by BH-THE BOYS. Freddie Mac’s Big Loss Dims Hope [NY Times] Brooklyn Subway Cars Rate High [Brooklyn Eagle] Competition for Kosher High-End Supermarkets [Crain’s] 2007 Mortgages Go Bad at Rapid Rate [WSJ] Parking Program Would Give Preference to Locals [NY Sun]
Clyde 3YB. Photo by BH-THE BOYS.
Freddie Mac’s Big Loss Dims Hope [NY Times]
Brooklyn Subway Cars Rate High [Brooklyn Eagle]
Competition for Kosher High-End Supermarkets [Crain’s]
2007 Mortgages Go Bad at Rapid Rate [WSJ]
Parking Program Would Give Preference to Locals [NY Sun]
You didn’t answer my question, What.
I’m waiting….
Between 2002- 2007 the Mortgage made was around 6.5 TRILLION dollars. Let’s say of goodness sake (Using Pareto Law) about 20% of these Mortgages has to be “written off”. That”s 1.2 Trillion dollars!! This would send shock waves thru out the Banking System. There is a massive CrediT crunch going on (Auto makers next) on the hand out line.
Let’s look what’s affected now.
Student Loans Families Scramble to Fill the ‘Gap’ to Cover Fall College Costs
http://tinyurl.com/6cmkph
The first tuition bill is due any day now at most colleges and universities. As the market crunch continues to impact the student loan financing market, families are scrambling now more than ever to find the funds to cover the fall semester bill. For example, the Massachusetts Educational Financing Authority (MEFA) recently announced that they will no longer offer loans of any kind – affecting more than 40,000 Massachusetts families.
Auto Makers
Automakers Race Time as Their Cash Runs Low
http://www.nytimes.com/2008/08/02/business/02gm.html?ref=automobiles
In the latest sign of the deepening troubles, G.M. reported a stunning second-quarter loss of $15.5 billion on Friday because of a continuing fall in United States sales and charges for job cuts, plant closings and the falling value of trucks and sport utility vehicles.
That followed a loss of $8.7 billion reported last week by Ford. Overall sales fell by 13 percent in July.
Mortgages
Delinquencies for 2007 mortgages outpacing 2006: report
http://www.reuters.com/article/ousiv/idUSN0730034520080807
NEW YORK (Reuters) – Delinquencies of prime mortgages originated in 2007 are outpacing those made in 2006, suggesting the U.S. housing and financial crisis may be deeper than initial estimates, the Wall Street Journal said on Thursday.
Yep Assholes, The hits just keep coming. Keep jacking off letting the BIG BOYS have their way with ya.This fall is going to be fun. Oh BTW still fuck all of you!
The What
Someday this war is gonna end….
Well, already been to Walden Pond and wandered about, pondering Thoreau, in what was probably in an achingly post-adolescent, angst-filled and dramatic fashion; already made love while skinny-dipping at midnight in the limetone quarries in Bloomington – close enough; skydiving is out, as I believe the terror would kill me before getting my parachute open; and ballroom dancing is out, as I’ve given it a trooper’s try on more than one occasion, to no avail and due to my apparent “dance dyslexia”, but the rest sound pretty good!
Think we could fit it in given What’s timeline? I think his “end” is sometime in October.
Chop chop!
I see that the whole number subtraction thing became too much for the what?. You know you can use Google as a calculator right?
“Maybe that makes us the biggest suckers since the people who bought at the base of Mt. Vesuvius” Great line of the day!…Wait- make that the week!
Biff- the cashier at Gristedes will take a minimum of 125 days to get it right so you may want to drop that from your list. everything else sounds lovely.
Writing “fuck” 600 times still doesn’t solve anything. I’m still waiting for a solution, if you are so wise and precognicent, what.
The fact is that 99% of us cannot opt out of society. We can’t take our money out of banks, cash out of social security, or remove our homes to a mountaintop in Vermont. We are here, with jobs we need to survive, careers we are interested in advancing, bills we need to pay, and lives we are trying to lead. We have obligations, families, friends and commitments. Maybe that makes us the biggest suckers since the people who bought at the base of Mt. Vesuvius, but we are just living in reality. Unless you have some ideas on how to survive a total meltdown that you want to share with us, you remain just another nutball with a sandwich board, shouting “the end is near”.
the rest…
“You need to strike a balance between freedom and security for your citizens. This is a democracy, but we need to pick between a market-led democracy and democracy-led markets.â€
The majority of the American people have no alternatives to sticking it out. No one likes this -we’re all too well aware of what’s happening. But unless we go the lemming route… Sorry- I just don’t see myself heading to the sea and going over the cliffs willingly.(Aren’t the nearest cliffs the Jersey Palisades? So I need an EZ Pass to get to the cliffs I want to suicide on? No way!). Seeing it through is all we got. Actually I think that makes us part of the solution.