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David Stockman: “We have a far worse fiscal situation…”

Posted on August 11, 2011 by Deadly Clear

The Daily Capitalist
Stockman On Budget And Downgrade
By Jeff Harding August 11th, 2011

This is an interview of David Stockman on Bloomberg Radio today by Kathleen Hayes. David goes into the budget crisis and the downgrade. As usual he pulls no punches. “We have a far worse fiscal situation….by 2012, 2013, 2014… the deficit situation is going to be dramatically worse and our ability to cope will be almost non-existent….”

This is an excellent interview on Bloomberg Radio which can be heard Continue reading →

Screw Sam! Reconstruct the Mortgages with their Rightful Owners

Posted on August 11, 2011 by Deadly Clear

U.S.Seeks Ideas on Renting Out Foreclosed Property

By EDWARD WYATT

Published: August 10, 2011

WASHINGTON— Uncle Sam wants you — to rent a house from Uncle Sam.

The Obama administration said on Wednesday that it was soliciting ideas on how to turn the federal government’s inventory of foreclosed houses into rental properties that could be managed by private enterprises or sold in bulk.

The goal, the administration said, is to stabilize neighborhoods where large supplies of empty, foreclosed properties have hurt property values. In addition, the plan is an effort to clear the nation’s balance sheet of real estate holdings that, because they have been difficult to sell individually, have hung over the housing market and stunted sales of existing homes and new construction. Continue reading →

As our Founders recognized again and again, free speech and open debate are critical to a functioning democracy. See Benjamin Franklin, On Freedom of Speech and the Press, Penn. Gazette, Nov. 17, 1737 (“Freedom of speech is a principal pillar of a free government; when this support is taken away, the constitution of a free society is dissolved, and tyranny is erected on its ruins. Republics and limited monarchies derive their strength and vigor from a popular examination into the action of the magistrates.”); see also Letter from James Madison to W.T. Barry (Aug. 4, 1822), in 9 Writings of James Madison 103 (G. Hunt ed. 1910) (“A popular Government, without popular information, or the means of acquiring it, is but a Prologue to a Farce or a Tragedy; or, perhaps both.”). Source: The Press Foundation, Amicus Curiae, Twitter v. Holder (2/17/15)