Archive for April, 2010

The Debt Star has cleared the planet….. For now fellow OCHN readers we’re going to a galaxy far, far away. Circling planet Overborrow_ 92620 are the giant Star Destroyers, each packed with dastardly bankers and fearsome asset managers. The Armada, comprised mainly of BofA, Wells Fargo, Citi, and Chase, has tried their best to level the planet and reclaim it’s wealth. For now, Rebel forces have held off the Imperials believing the longer they stand and fight, the sooner will come some measure of rebel victory. Thwarting the will of the Emperor so far has been pretty easy. As anyone knows, Imperial Storm Troopers have to be the worst fighting force in the galaxy. They can’t shoot worth a damn.…[READ MORE]

I like people who tell it like it is, and I try to do the same. I think "balanced" reporting is one of the reasons for the death of newspapers. Most issues in life are shades of gray, and presenting both sides of an argument can be helpful for people to decide for themselves what they believe is right and what is wrong. However, there are many issues that fall much more to the extreme of black or white, wise or foolish, good or bad, right or wrong. When these issues are presented in a balanced way, it distorts the truth. I think the various bailouts for both lenders and borrowers are wrong -- 100% wrong. There is no balanced middle where some moral hazard is acceptable. Taxpayer funded bailouts are state-sanctioned theft,…[READ MORE]

We are all living in our own bubbles. Each of us has a tenuous grasp on reality, and with the steady flow of bullshit and propaganda that implants gross lies into our collective consciousness, our perception of reality becomes ever more distorted. It is a difficult and often time-consuming task to find Truth and Reality buried beneath obtuse writing and intentional obfuscation. Bubble thinking is rampant, and the primary reason for its persistence is that people want the free spending money houses provide. The huge financial reward each bubble participant received as they went to the housing ATM gave a spender's high like no other. Absent another housing bubble, most bubble participants will never have access to that kind of money again.…[READ MORE]

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