Take Responsibility for your Actions

As we all know, the real estate market is tanking. (Great news for savvy real estate investors though.) The bubble is about to pop and all the greedy rats who made money from flipping houses are all about to be smoked out of their holes. I hope these flippers, who create no or very little value whatsoever while jacking up the prices, get burned... ALL the way to the bone!

One thing that bothers me (and this should bother you too) is how the government is planning on punishing the subprime lenders who made "predatory" loans to low income families. Apparently these families "didn't know" what these numbers meant or how they can be affected in case of rising interest.

High income or low income... ignorance is what gets you into trouble. I've seen plenty of dumb rich kids who didn't know diddly squat and had the street smarts of a rock... and I've seen extremely savvy people who come from very humble financial backgrounds.

Regardless, why is the government stepping in to protect these ignormus people who apparently were too lazy to look into what they were getting into? Whatever happened to "let buyer beware"? They signed on the dotted line, and that's what counts. If they didn't have a brain the size of walnuts to be worried about signing something that they have ZERO knowledge in, then these people DESERVED it.

Yea yea.. I hear arguments like "oh, these people don't have the resources".. or "a lot of these people don't speak English"... or "they don't have the financial background". Well.. then:

1. GO FREAKIN' ASK for some resources
2. GO GET A TRANSLATOR
3. GO GET SOME FREAKIN' FINANCIAL EDUCATION

Easy for me to say right? Baloney. You're saying there's NO one out there who started out as immigrant, with very little resources, money, and financial education that has become a successful homeowner? How did THESE people make it?

That's b/c they put in the time and the effort to find out what the hell these things mean before they locked themselves into a 30 year contract! They took RESPONSIBILITY for their own actions, and that's what the rest of us these people need to do. Law cannot and should not protect people from ignorance or laziness.

This is just freakin' common sense. I remember reading about a case where this Hispanic family of four with a combined income of $45,000 (before tax) buys a $500,000 home on some exotic hybrid interest only mortgage (the lender and the applicant co-conspire and claim that the applicant is making over $120,000), only to be foreclosed on 6 months later. When they couldn't meet the payments, they sue the lender and the real estate agent b/c the applicant didn't "know" about the terms or about the "mis-stated" facts in the mortgage application.

*sigh* YOU F*CKIN' SIGNED IT! How the hell did you not notice the difference between $45,000 and $120,000!!!! That's not Spanish or English.. it's a freakin' NUMBER!

Regardless of what he TRULY made, $500,000 home on a $45,000 salary... does that make sense? I don't care if you didn't read or understood ANYTHING in the fine print of your mortgage document. How are you going to pay (assuming 5% interest rate) $25,000 of INTEREST on $45,000 salary BEFORE TAX?

Yes I am sure there are predatory lenders, but dammit... JUST FREAKIN' SHOP around! Ask questions! Don't just sit there and be a f*cking victim!

Take responsibility for your dumb actions. The gov't should let these people burn so they LEARN. Gov't should STOP taking away these valuable lessons.

EU Retards

The European Commission is forcing Apple to open up its iTunes on-line music retailer to outsiders.

Do you think it's okay that you can play a CD in any CD player, but an iTunes song only on an iPod? I don't. This sort of thing has to change

What kind of an idiotic statement is this? Does he really think that it's fair for Apple to spend BILLIONS to come up with the technology, market it, and sell it while his lame ass just sits there and looks for ways to screw businesses? What kind of an asshole comment is this?

Apple created TENS OF BILLIONS of value in the economy with its Ipods (you don't believe me? just take a look at how much more these artists, music companies, Ipod accessories companies are making from the success of Ipods), and now they're getting punished? Why? B/C they want to protect their intellectual property, the basis for pretty much ALL of the world's information economy?

Whoever he is, this guy needs to get his ass whooped. Freakin' Nazi commie.

INS = new DMV

The government organization that handles immigration USCIS (US Citizenship & Immigration Services, formerly known as INS, or Immigration & Naturalization Service... a dumb name change by the way, because people STILL think USCIS sucks) proposed that fees be increased:

... an application for permanent residency (green card) would increase from $325 to $905 and a citizenship application would virtually double from $330 to $595. Numerous other fees, including fingerprinting, increase as well.

Now, let me get this STRAIGHT. The government WANTS people to become US Citizens, yet they're charging a THOUSAND bucks to the group of people that is composed primarily of low income earners.

Hmm. I'm no brainiac but this to me, sounds ironic.

Another thing... WHY ON EARTH does an application cost $1000? Are the applicants getting a plasma TV with the application?

Yes yes. I heard arguments that this government service is totally for the benefit of the applicant and that these fees are there so that the process works.

BULL CRAP. And lots of it.

What about taxes immigrants pay? How are these fees being utilized? If the applicant is turned down, there is NO refund. To appeal the rejection, you have to pay MORE. This is a perfect example... and I do mean PERFECT example of assenine government inefficiency.

How is it that companies like Walmart, Starbucks, etc. etc that receive MILLIONS of applications (say, for jobs) are able to process them for pennies in literally minutes while the USCIS makes the applicant wait for YEARS yet charge them up their asses?

I'll probably hear this shit from the USCIS rep:

1. We have to do security clearance. This costs money.
2. We have processes in place. This costs money.
3. We have technology to upkeep. This costs money
   
4. We have people to pay. This costs money.
   
5. We have dildos stuck up in our asses. This costs money.

Ok I'll give them #1 and #5.

But what about f*cking the incredible waiting period? A lot of these USCIS forms are STILL on paper. This is year f*cking 2007! Go hire some engineers in China or India and make a functional website so you don't have to waste time and money on PAPER! When you have paper, you need more labor... more labor is more cost.

Technology is GOOD b/c it's fast, efficient, AND you can have better security control. You don't believe me? Why the HELL do you check your bank balance on internet if you DON'T? Why the hell do you buy crap from Amazon, eBay, etc etc and give them your CREDIT CARD and SOCIAL SECURITY number if you don't?

Yes, I do understand that you're gonna have ENGINEERS who are paid HIGHLY to maintain technology. So what? Better to have a couple of highly paid workers who make your system smooth & efficient rather than 10,000 MORONS who basically are there to shift paper. And the worst thing about all this is.. when applicants call in to ask, it's JUST like calling any other government organization. You get one of these responses:

1. That's not my department. Let me transfer you over to another moron who doesn't know shit.
2. I can't do that. That's not our policy b/c my boss is an idiot that's been here for YEARS yet still he doesn't know shit.
3. You're gonna have to mail us that request b/c we're gonna use that as toilet paper to wipe shit off our asses.
4. I can't check that. You're gonna have to wait b/c until I actually get a job I like so someone ELSE can help you with your shit.
   
5. You're gonna have to wait as the forms are still being processed by other morons who think I am processing your shit.

*sigh*

That was a lot of shit.

This is INHERENT problem in an organization (business, government, school, whatever) where people have NO accountability. When was the last time USCIS, DMV, or IRS asked you if you were happy with their service? No accountability = Crap service b/c there is no need to improve their service with respect to time, cost, or customer satisfaction. Higher fees? For what? It's not a MONEY issue that USCIS has.. it's the dumb ass management. Throw money at a system that has inherent flaws is giving more alcohol to an alcoholic, hoping that he/she'd recover soon.

No accountability almost always means that people are basically there just to cover their asses. They don't want to make a scene or fuss b/c they just care about keeping their shitty jobs and paycheck.

R-I-D-I-C-U-L-O-U-S.

I would consider getting a job at USCIS as the director. I'd ask for $0 pay but a three year commitment. I would go in like freakin' Napoleon w/both guns blazin'. It would be a slaughter and the pink slip is the weapon of my choice.

I would run it like it's a business and the world will be a better place.

For now, at least we can all take some action: http://www.acorn.org/index.php?id=4189

Typical Government Employee Mentality

What's the difference between a FOMC chairman (i.e. Ben Bernanke)








and an ex-FOMC chairman (i.e. Alan Greenspan)?




1) Alan has nicer bald head.
2) Ben, unlike Alan, can't count to 5.
3) Alan is retired so now he doesn't give a rat's ass what people think of his comments.

* By the way, if you don't know what FOMC is.. it's the most powerful money organization in the most economically powerful country in the world. They basically dictate ... well.. US economy, to a certain extent.

Yeap, the answer is 3. If the answer is 2, I recommend that we all pray to God that this guy won't mess up while counting $12 trillion.

According to Bloomberg, Alan thinks there is gonna be 1/3 chance of recession. Ben thinks the economy is just rosy. What's with the difference in opinion?

Ben - He's still an employee of the US gov't and he's under intense pressure to say nice things and not scare off people. I am not saying he needs the paycheck (maybe he does), but I'm pretty sure he wants to keep the job as the most important money man in the world.

Alan - He's retired. He doesn't give a shit what his ex-boss (i.e. El Presidente) says. He's gonna come out and say the truth, even if it scares people.

To be honest, I think Alan is way better. Not b/c I'm a supporter of gloom & doom, but because he comes off more sincere... AND he was right the past 2 or 3 decades that he was in service. Alan warns against people going too crazy speculating in the economy, which I wholeheartedly agree with.

That and I do think Alan does have a nicer bald head.

Ben has the TYPICAL gov't employee mentality. Cover your ass, even if it's at other people's expense. In this case, retard "investors" - i.e. pretty much anyone who trades stocks for living - if they stay in the market b/c of Ben's comments, they will BURN.

I can't stand government employees. Not all of them, but most of'em. Lazy, ineffective, and always shifting responsibilities and blames to others. "Oh no, that's not my department." "I can't help you." "That's not our policy."

Free capitalism, woohoo!

Big government, BOO!