'Hope Now' Is A Shortie

The latest in the foreclosure fiasco is that "Bush administration-backed mortgage industry coalition, called 'Hope Now' has fallen short in stopping or lowering the number of foreclosures. In fact the glistening 'Hope Now' was suppose to turn around the economy and show a decline in foreclosures. But it did not. Actually, as it stands right now the foreclosures are forty-three percent higher this year than what it was this time last year.

Of the mortgages held by nine large banks foreclosures rose in March by 1.23 percent according to a new government report. In May the Real Trac report stated that one in ever 483 households received a foreclosure filing.

There are reports that foreclosures are likely to rise much higher towards the end of the year.

Meantime, some are doing the 'short sale', which means lowering the price of their homes to sell quickly. Some sales are lowered between $100,000.00 to $250,000.00. The good thing about this is that some mortgage companies are willing to forgive what is still owed on the mortgage after the sale. The bad thing is that you have to count the forgiven amount as income when you do your taxes. This is a loose, loose situation for the ex homeowner.

But it is a loose, loose situation for the surrounding neighbors, neighborhood, and sometimes the entire city. As homes continue to sell at lower than their value, it brings down the values of the homes in the community. I know because several homes sold in quick sales in my community. The bank told me that my home had dropped in value $250,000.00 because of someone Else's 'quick sale.' Leaving me and my home in the 'QUICK SAND OF DECLINING HOME VALUE.'

American Consumer Always Gets The Blame

When it comes to the price of oil, whose fault is it?

Well, one news money expert on TV stated that it all boiled down to the huge demand of the American driver. "Really?"

On another news channel the oil price hikes was blamed on Americans love affair with their cars. "You don't say."

Yet just a few days before that statement, another money news expert claimed that the American driver had cut back too far in their usage. "What?"

And then there was an oil rep who said that China and India have a much higher legitimate demand for oil, and that their demands have to be met first. "Oh, really?"

Meanwhile the European truck drivers had staged their protest on the oil price hikes and blocked their borders. Their protest is that their prices at the pump are some of the highest in the world. And none of them are blaming the average American for the oil hikes. In fact, I have not heard anyone try to tie the price of gasoline in Europe with the demand of the average American or European. "Hmm, why is that?"

Is the American consumer at fault with their demand for oil? Is it the American consumer with their cutting back in their demand for oil with American consumer cutting back their daily spending more each year to blame? (Less money spent, less money for goods and services profits.) Is OPEC at fault? Is it the middle man whose the one laughing-all-the-way-to-the-bank? Are the speculators on Wall Street responsible for the price hike?

Or maybe, just maybe, the outsourcing of jobs at the Beginning of the Bush Administration, putting many Americans out of secure jobs, stuck with temporary work without job stability and without job security, without medical insurance, making it harder and harder to make ends meet with lower pay for the same job and same job requirements and education for those jobs which just continue to get fewer and farther inbetween each year, having to spend less and less money and cutting back on goods and services that started a chain reation with different industries recieving lower profits for the past eight years. First went the High Tech Jobs and the Customer Service jobs along with the annoucement by Bush that "America is no longer a High Tech country but now a Service country (like medical, police, fire fighters)", then the retail profits dropped each and every year since as more industries cut back due to lower profits with layoffs and hiring less or having a hiring freeze, while the electric companies were raising their prices and putting penalties on private homeowners for using more electricity with the change of the weather and seasons yet no limits or penalties were placed on businesses who always waiste, then it was found out that some in the energy industry inflated the shortage but nothing was done to pay customers back for being overcharged by the electric companies as they continue their price hike each year, then the gas heating industry rasing their prices on homeowners and placing penalties on homeowners yet no penalties were placed on businesses for their waiste, then some more jobs cut with fewer jobs available in different industries continued, then the new car purchasing began to decline, then there were reports of jobs loss in American auto manufacturing, then the older homes sales began to suffer, then the new homes sales began to decline, then there were reports of job loss in the construction industry, then the housing industry worker jobs declined, then the water industry placing limits on homeowners and penalties for usage while no penalties are ever placed on business, during all this time the oil industry were raising their price of oil.

Yep, but according to all the different industries listed it is always the American consumer who is the first one they blame.

Iran, The Supreme Leader, and Republicans

The Supreme Leader of Iran is a religious leader who believes that he is Religiously Right. If he were an American, he would be a Republican.

The Supreme Leader of Iran is a religious leader who made a deal with Regan to hold the hostages (remember them), in 1980 until after the November elections and to release them after the January 20, 1981 inauguration, which he did. A piece of the news that had hit every news media at the time. I wonder how the hostages feel about that. Or if anyone even showed them the news report at that time. I know if it were me who was a hostage, I would have been very angry that the Republicans made the deal for the Supreme Leader of Iran to hold me longer and not listen to those who wanted me released sooner.

The Supreme Leader of Iran hates democracy, and calls it the demon. But he loves the Republics. You know, the Republic of China. But I believe that the Supreme Leader also loves the Republicans like Bush and Rumsfeld. After all both Bush and Rumsfeld made the statement in March 2003 that Iran was our friend on national TV as they bragged that it was an Iranian Government informant who told them that there were WMDs in Iraq, which made it possible for Iran to work on their own Nuclear WMDs unwatched. Remember, how both Bush and Rumsfeld both talked that they were on good terms with the Iran Leaders.

Job Loss For Fifth Month Straight

High unemployment continues as the numbers come in for the month of May. Jobs loss to American workers in May was reported at 49,000. So far the highest reported for a single month was February when the figure hit 63,000 jobs loss.

As more home foreclosures are increasing, and more job opportunities are declining, employers are worried of their own prospects and the profits for their businesses that they lay off employees and clamp down - freezing - any new hiring.

Still with the Government reporting lower job losses for January, April, and March then coming back with the corrections after the numbers were challenged - what are the chances that the number for the month of May are accurate. Just like the other three months whose figures turned out to be much higher than first reported, May could have higher figures as well.

Chief economist, Mark Zandi stated that for the average American there is not debate that the economy is in a recession. He added "That's because their net worth is lower, their purchasing power is lower, and it's tough to find a job. If you lose a job, it is tough to get back in."

For the fifth month of the year the job lose has totaled 324,000.

Still the feds and Bush Republican Administration are hopeful that the economy will be pulled out of the "Deep Funk" in the second half of the year, which was reported by Jeannine Aversa the Associated Press Economics Writer. The article was U.S. Jobless Rate Spikes to 5.5 percent, which was posted on ABCnews.com.

Unemployment UP, Stocks DOWN, Oil Prices SOAR

Strange that today, Monday June 9 2008, ABC reports on the Stocks fall in wall street while the Oil Prices surge and the Unemployment on the rise. Yet that was suppose to be Fridays news, since that is when all this had occurred. So then why were some news media planting the idea that the costs of oil barrels were down on Friday?

Maybe they were trying to plant a positive on the negative events that were happening on Friday.

Maybe they were trying to prevent a panic to flow into the weekend.

Or maybe, just maybe, the Bush administration and Oil Industries just wanted to give any candidate from connecting the dots. Well the American people, as well as any people around the world are just smart enough to be able to connect the dots themselves.

While we suffer loosing our jobs, loose our homes, with prices at the pump and the energy costs going up, the prices of food continue to climb as shortages are to blame, it is true that there is only one truth.

And that one truth is that the Oil industries, OPEC, China, India, Bush, Chaney, and the Republican Party are all laughing all-the-way-to-the-Bank.

World Oil Prices Outrage

As oil prices climbed even higher throughout the United States bringing oil prices at the pump up to an average of $4.50 a gallon in California pumps with the rest of the country hitting the average of $4.00 at their pumps, European truckers are getting hit by even higher prices. Truckers in throughout Europe are staging massive protests.

The different European truckers have blocked their Countries borders. Included in blocking the borders are Spanish truckers, French truckers, Portuguese and truckers from Belgium.

However as demand in America and other western countries drop, China and India demands continue to grow.

One could almost guess that the countries that have taken the jobs away from the Middle Class American are the same countries who are growing their demand for oil and getting it. Thus giving those countries like China and India lower prices at their pumps.

Yet many of the investors who had their money in the Mortgage and Loans have bailed out, jumping into the bandwagon of OIL INVESTMENTS sending oil prices soaring.

Add to that the weaken American dollar. Since oil prices are set in American dollar which is much weaker than other currencies around the world the prices continue to rise against the American consumer.

Of course the OPEC nations have made it very clear that they will not increase the supply for American demand, although they found no problem in increasing the supply of what they sell to India and China.