Post Scripts

by Jack Lee

( Six month prediction on gold shown above – this is not a good sign for economy )

Hang on to your wallet, a lot of financial wizards are predicting that we’re not out of the woods on housing and the economy a whole is set for a big aftershock. For example between 2010-14, about $1.4 trillion in commercial real estate loans will reach the end of their terms and about 50% are “underwater” – that is, the borrower owes more than the property is worth.

Commercial property values have plummeted more than 40 percent since the beginning of 07 and vacancy rates are at a whopping 18%, this is bad, very bad! Housing vacancies are about 8% and rents for office space and houses are both falling. Office space rents are down 40% and retail is off 33%. Nevada, California, Arizona, and Florida, in that order, have the highest rate of foreclosures. Nevada is particularly hard hit and it could take 10-15 years for home prices to stabilize and recover. If you speculated on real estate in Nevada…need I say it, you’re in deep, deep trouble. As awful as this sounds, you might consider cutting your losses and salvage what you can.

A pending disaster: The largest commercial real estate loan losses are projected to hit in 2011 and beyond and this could represent bank losses in the area of $200-$300 billion. The banks capital reserves are only tested till the end of 2010 and beyond that who knows. Which probably means the real estate bargains of today will be even better bargains in a year or two. One more factor for this continued housing implosion is the declining values have made it very difficult for home owners to refinance, even if they have decent equity. Try getting a loan as a first time home buyer today, you’ll likely have to rely on an FHA loan and because of the fraud that caused the housing bubble; it will be extremely difficult to qualify. Banks have gone from those easy liar loans that caused the bubble to overly strict lending that makes it tough for anyone, even with a high credit score and otherwise well qualified, to get a loan. This is really putting the brakes on recovery.

My best guess now is we will see real estate dragging the bottom for at least another 6-8 years before the supply demand factor starts taking effect. Currently, we have too much unemployment and the full impact of underwater mortgages has yet to hit. More layoffs and more downward pressure on real estate is to be expected.

An L.A. Times story says, “One in seven U.S. home loans was past due or in foreclosure as of Sept. 30, putting that quarterly delinquency measure at its highest level since 1972, when the Mortgage Bankers Assn. began reporting it. At the beginning of this year, 1 in 10 loans was past due or in foreclosure.” Expect home prices to continue to fall and home buyers to be few.

We’ve had another 16 banks fail in 2010 and the year is still young, but the good part of this is the FDIC has upped your insured deposit to $250,000. The bad part is they are paying out billions because you are insured. “The Street” predicts bank foreclosures to accelerate in 2010.

Commodities such as gold, oil and gas continue to be the best bets for asset preservation in the stock market. Gold is predicted to hit $1500 an ounce this year and $25 an ounce for silver. Gold is trading around $1130 at the present. Reference: Commodity Online.com and Forecasts.com.

Posted by Tina

“A World-Historic Find in Jerusalem,” by Jonathan S. Tobin – Commentary Magazine

The greatest threat to the hopes of those who think parts of Jerusalem should be off-limits to Jews comes not when Jewish-owned buildings go up in the city, but rather when Jews start digging into the ground of East Jerusalem. Because the more the history of the city is uncovered, the less credible becomes the charge that Jews are alien colonists in what the media sometimes wrongly refer to as “traditionally Palestinian” or “Arab” Jerusalem. ** That’s the upshot from the release of an amazing archeological dig conducted just outside Jerusalem’s Old City. The excavations conducted by archeologist Eilat Mazar in the Ophel area revealed a section of an ancient city wall of Jerusalem. According to the press release from the Hebrew University, under whose auspices the project was carried out, the dig uncovered the wall as well as an inner gatehouse for entry into the royal quarter of the ancient city and an additional royal structure adjacent to the gatehouse as well as a corner tower. While ancient buildings are not uncommon in the city, the significance of this discovery is the fact that these edifices can be dated to the 10th century before the Common Era — the time of King Solomon, credited by the Bible for the construction of the ancient Temple in Jerusalem. Pottery found at the lowest levels of the dig is dated to this era. ** Even more telling is the fact that bullae — seal impressions — with Hebrew names were found, as well as seal impressions on jar handles inscribed with the words “to the king,” which means they were employed by the Israelite state in that time. Inscriptions on the jars, which Mazar says are the largest ever found in Jerusalem, showed them to be the property of a royal official. (Emphasis mine)

Posted by Tina

Jeffrey Lord begins his piece with a quote from the criminal code and a couple of lines from a couple of news stories:

“White House Accused of Federal Crime in Specter, Bennet Races,” by Jeffrey Lord – American Spectator

“Whoever solicits or receives … any….thing of value, in consideration of the promise of support or use of influence in obtaining for any person any appointive office or place under the United States, shall be fined under this title or imprisoned not more than one year, or both.” — 18 USC Sec. 211 — Bribery, Graft and Conflicts of Interest: Acceptance or solicitation to obtain appointive public office

“In the face of a White House denial, U.S. Rep. Joe Sestak stuck to his story yesterday that the Obama administration offered him a “high-ranking” government post if he would not run against U.S. Sen. Arlen Specter in Pennsylvania’s Democratic primary.” — Philadelphia Inquirer February 19, 2010

“D.C. job alleged as attempt to deter Romanoff” — Denver Post September 27, 2009

Joe Sestak is apparently not backing down from his claim which means the White House may be feeling some heat. This can’t help Democrats in the coming elections…that is if the media does it’s job. Will the media press for information from the White House? Will they ask the tough questions? Stay tuned and stay alert, ladies and gentlemen. An investigation should be forthcoming…will the Justice Department do it’s job?

Democratic political strategist and pollster Doug Schoen predicts the Democrats will lose as many as 50 House seats and key Senate races around the country.

Post by Jack Lee

As Toyota officials head to Washington for a series of Congressional hearings this week, a potentially damaging internal document is grabbing headlines. All three TV news networks and hundreds of newspapers nationwide led with the story this weekend, adding to a public relations nightmare for the Japanese automaker.

(Once again corporate profits exceed any other consideration, even the risk to human life. And you would want the millions from these big corporations determining election outcome?)

For more on this story click here.

Notice: Post Scripts is a free speech forum and we welcome all points of view. If you have something to say, why not say it here? Olympic Suicide comes from one of our (15,000 plus) readers:

by Brayn Candy

It seems the Olympic suicide flu is spreading through Chicago. Michael Scott another dirty political partner of Valerie Jarrett decides to blow his brains out.

(Jarrett shown left) We all know the Daley motto, dead men tell no tales and Scott won’t be talking. Of course we also know that suicide in Chi-town is like going for a swim w/lead sneakers in NJ. This is the second Daley inner circle pay-to-play thugs to die. The first was convicted dirtbag Kelly who accidently took an overdose of aspirin and rat poison the week he was heading for prison. Rumor was both of these were singing like canaries.

Where in Chicago could anybody find someone to make a murder look like SIEUicide? Michael Scott was a longtime partner of Jarrett who rose through the ranks of the Daley machine in the same Black Power slumlord circles. They both owned Real Estate companies just like Rezko that are used as a business to launder bribe $$. He was also on the same Chicago Boards where all the power and Pay to Play is funneled into the machine. He was also a force in the Obama circle of commie black leadership that ran their side of the Daley syndicate. He was so deep in the corruption that he was being investigated for his taking bribes and favors as Chairman of the Chicago Public School Board.

The real corruption he was being investigated was his connection w/Jarrett on the Olympic Committee where he was a member, that was going to develop properties near the village. This was in the slums that were going to be condemned and developed for $85 million if they got 2016. He was even on the flight to Copenhagen that Bozo and First Aunt Esther made their failed pitch for those Games. They all owned land in that impoverished neighborhood where they all stood to make fortunes. He was “cleared” of wrongdoing that he wouldn’t make any $$, but we all know there are many ways to enrich yourself. If you know where the sites are going before anybody else, you know where to buy those undervalued lots and he owned 80 of them, for the children of course.

Continue reading “Olympic Suicide” »

Posted by Tina

The Justice Department after five long years has exonerated the two lawyers who advised President Bush on the legality of interrogation techniques, including waterboarding. An investigation of legal advisors John Yoo and Jay Bybee resulted in a report issued by the Office of Professional Responsibility. Jennifer Rubin, reports on the recommendations of David Margolis, Associate Deputy Attorney General in Commentary Magazine :

In a Friday information dump (which tells you it does not aid the cause of the administration and those seeking Yoo’s and Bybee’s punishment), we got a glimpse at two drafts of OPR’s report, its final report, and then the recommendation of David Margolis, a career lawyer and Associate Deputy Attorney General. ** Margolis’s report is 69 pages long. Margolis essentially shreds the work of OPR, finding no basis for a referral of professional misconduct for either lawyer. It is noteworthy that all throughout, Margolis adopts many of the criticisms of OPR’s work that outgoing Attorney General Michael Mukasey and his deputy Mark Filip rendered before leaving office at the end of the Bush administration. ** At times the work of OPR itself seems to have violated the professional standards it was charged with enforcing. Sloppiness abounds. Margolis finds, for example, that OPR applied the wrong legal standard, the “preponderance of evidence” rather than the more stringent clear and convincing evidence” standard that state bar proceedings would utilize. (p. 11) Margolis also concludes that OPR’s findings “do not identify violation of a specific bar rule.” ( p. 12) Margolis further notes that OPR’s analysis and legal standard shifted from draft to draft. (pp.13, 15-16)(emphasis mine)

Continue reading “Bush Interrogation Lawyers Cleared of Wrongdoing” »

Posted by Tina

Hooo dawgees! There’s a whole lot going on at CPAC, the convention for conservative political activists being held in Washington DC. Views of the attendees are many and varied from pro-life and marriage advocates to defenders of gay rights. The keynote speaker this year was Glenn Beck which had to put some observers on on full alert but the big bang that topped off the show was the straw poll result which had to surprise more than a few of the attendees and observers:

“Ron Paul Wins CPAC Straw Poll, Sarah Palin is Third With 7 Percent” – Politics Daily

Rep. Ron Paul (R-Texas) ran away with the presidential straw poll at the Conservative Political Action Conference Saturday, with 31 percent of the vote. Paul’s libertarian conservative message has made him a hero to small- government Republicans for years, but this is the first CPAC straw poll he has ever won.

Here are the complete poll results:

Rep. Ron Paul- 31 percent,
Mitt Romney- 22 percent,
Sarah Palin- 7 percent,
Gov. Tim Pawlenty – 6 percent,
Rep. Mike Pence- 5 percent,
Mike Huckabee- 4 percent,
Newt Gingrich- 4 percent,
Gov. Mitch Daniels- 2 percent,
Rick Santorum- 2 percent,
Sen. John Thune- 2 percent, and
Gov. Haley Barbour- 1 percent

Today is Malcolm’s birthday –

In 1946, at the age of 21, Malcolm was sent to prison for burglary after a string of crimes. It was there he encountered the twisted teachings of the radical Elijah Muhammad, the leader of the Nation of Islam, whose members are popularly known as Black Muslims. The Nation of Islam advocated black nationalism and racial separatism and condemned Americans of European descent as immoral “devils.” Muhammad’s teachings had a strong effect on Malcolm, who entered into an intense program of self-education and took the last name “X” to symbolize his stolen African identity.

After six years, Malcolm was released from prison and became a loyal and effective minister of the Nation of Islam in Harlem, New York. In contrast with civil rights leaders such as Martin Luther King Jr., Malcolm X advocated so-called self-defense for the liberation of African Americans “by any means necessary” including gun violence.

Malcolm was generally admired by many in the African American community in New York and around the country. Ironically, he was shot to death by Black Muslims at the pinnacle of his power, for what witnesses say was his criticism of Elijah Muhammad. Malcolm called him a religious faker because of his well known sexual proclivities. According to his assassin, You did not break the rule, Red (Malcolm) knew that. You don’t criticize the leader and expect to get away with it. In those days if we caught someone even smoking in the mosque, we’d smash your face in, and what Malcolm said was below the belt.”

In his time it can be said that this once lowly thief, who was under-educated and seething with rage against whites, has done as much as anyone, even including the Grand Wizards of Klan, to keep racial hatred alive and the races divided. What a great legacy, huh? But, give it another 100 years and no doubt liberals will be nominating him for Sainthood, they already think he was a great civil rights leader.

by Jack Lee

It takes boat loads of money to win a federal election these days – most notable of these elections is the presidency – and concerned people in both parties, now say elections costs are out of control.

Consider that the Clinton – Dole campaigns spent about $232 million in the 96 cycle – supplemented by about $69 million in ads by the Republican and Democratic national committees. Across the country, Election ’96 cost about $2.7 billion. However, by 2008 it has risen to roughly $5.4 billion! What the heck happened, inflation during those years only totaled about 23%. Why have the costs increased so much? Something is very wrong and it does not bode well for future elections because big money is cutting down the field of potential candidates to only an elite few..

Money matters too much! Did you know that 93% of the House of Representatives races and 94% of the Senate races were won by the candidate who spent the most money? (Source for Responsive Politics.) The findings are based on candidates’ spending as reported to the FEC.

Now please don’t confuse apples to oranges here. Just because something is taxed doesn’t mean it automatically has a right to vote or that it should be able to give big campaign donations. A corporation has employees and they all have a vote. They can represent their interests just fine, but for them to leverage off the fact they work for a large corporate with deep pockets it should not empower their voice or their value more than any other individual voice. All unions, corporations, big oil, or whatever else, should be outside our political process when it comes to our final election cycle. This period of a few months should just be for individuals and the candidates. The aforementioned unions, corporations, etc., can have their free speech, but not to degree they define a public election. That would be a very dangerous practice that would lead to bad laws and corrupt legislators. (history says so)

Continue reading “Our Founders Didn’t Chase After the Money!” »