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Duration : 0:0:39
http://realestatemarketingthisweek.com/real-estate/were-in-recession-and-hank-paulson-holds-the-purse-strings/ – Were in Recession and Hank Paulson holds the purse strings. -
Part 1 – Brett has brought with him some updates on the economy and how things are changing theses days and he brought some great information to discuss with you. We talk about all these different things in the economy and let’s be honest there are a lot of problems out there, no one can dispute that, the unemployment rate is the highest it’s been in many year, with Fannie Mae, Freddie Mac AIG being taken over by the government, Lehman brothers Bear Sterns, WAMU, Countrywide all gone, banks and insurance companies getting their bailout, the auto industry is the next one to get a bailout, were already working on our second stimulus package.
95% of the people according to President elect Obama are going to be getting a tax cut soon. Where is all of the money for all of this going to come from? It just seems to be a downward spiral. Brett’s got some great insight on this that he wants to talk about and some more, unfortunately, a little bit more dismal news, just want you to know before you drive off a cliff there is light at the end of the tunnel. We are going to talk about that so Brett, why don’t you share a little information if you could.
Yeah, I would be happy to, you mentioned a couple of things in your opening comments and one was about, the market seems to be anticipating bad news, and it certainly is not surprising it was a pretty significant down day on Wall Street again today, most of that was attributed to two things. Retailers such as Best Buy and Macy’s came out with their projections for consumer spending. Best Buy actually said something to the effect that it is the lowest level of consumer spending that they have ever experienced in the history of their business. Best Buy is actually one that hopefully will stick it out as we know Circuit City is filling for bankruptcy.
The other thing that you mentioned was jobless rate has climbed, the number has definitely increased, the NEBR is the government agency that is responsible for reporting when a recession begins and when it ends. They call it. They officially have not called one, but I think every reasonable person believes that we have been in one and probably have been in one for some time already.
So right supposedly there is some technical factor that says this is a recession that doesn’t mean that we flip the switch and boom here we are out of the recession is that right?
That is absolutely right and in hindsight is how they judge that time of when it started and when it comes to an end, and it’s usually several months after the fact, but it remains to be seen. We believe we are in a recession but we are going to talk about a couple of things that people are feeling this economic crunch and what they can do about it, specifically as it is regarding their home ownership and their mortgages.
A couple of interesting things that came out, Secretary of the Treasury Hank Paulson today made an announcement this morning regarding a change in the governments, they call it a rescue plan. Others call it a bailout. Thats the 700 hundred billion dollar plan, and apparently Wall Street is unhappy with the changes that took place, pretty significant.
The idea at the time this legislation was passed in congress and ultimately signed by President Bush into law was to use the funds to buy the bad assets, mortgage backed assets from banks and lending institutions, they changed that and recanted that today, Hank Paulson specifically announced that they are no longer going to be using those funds, that the current plan calls for 250 billion dollars of the 700 billion to be used to buy stock of those banks and financial institutions
Does Hank Paulson, does he need to get approval for this? One of the things that have been discussed all week long has been, was the fact that as this legislation was passed and approved, is that he has full power to make these types of decisions, without the benefit of it being discussed through congress and those traditional channels. He is currently the most powerful man in the world. He has the whole checking account to himself to decide what the best distribution of those funds is. It certainly appears that way and apparently he changed his mind and announced it today… http://realestatemarketingthisweek.com
Duration : 0:5:40
FIRST: We must recognize the reality of a national emergency in the form of an accelerating, hyper-inflationary, general breakdown-crisis of the U.S. banking and monetary system. This trend must be halted by emergency action in bankruptcy reorganization: All present plans for financial bail-out of Fannie Mae and Freddie Mac must be cancelled under threat of impeachment or similar action against any U.S. officials caught in complicity with such an attempted, inherently fraudulent bail-out scheme for absolutely wrecking the U.S.A. financially in favor of London and Wall Street predators.
Federal reorganization of the financial system in bankruptcy must occur immediately. We, as government, must be committed to pay what must be paid to maintain the general welfare of the population and of functions of Federal, state, and local government, and to freeze what can not be paid currently without damaging the payments which are of fundamental strategic and human interest.
Many people have engaged in what are in fact, tolerated swindles, as typified by the disgusting matter of “golden parachutes,” while essential human interests of people who have earned their actual right to income are looted to pay for “golden parachutes” and comparable swindles. Those who managed the economy are those who are chiefly responsible for the failure which their reign induced; they should not claim too loudly what they did not actually earn by human standards for the proper meaning of “earning.” The word of the day is “big-time financial swindlers”
SECOND: We must restore real (i.e., physical) growth in essential goods and services as measured per capita and per square kilometer.
THIRD: We must use emphasis on science-driven, high-energy-flux density progress in basic economic infrastructure, such as power, mass transportation, water management, and land and forest reclamation, as stimulants to recreating the physical-economic productive capabilities of our labor-force, which our republic has largely lost under the implicitly pro-Malthusian dogmas imposed since 1977.
FOURTH: We must establish a new virtual “Bretton Woods” system by an immediate agreement presented by the government of the U.S.A. to leading nations Russia, China, and India, establishing a new fixed-exchange-rate system designed for the participation and benefit of currently sovereign nations and those which are still to be freed from poorly concealed expressions of British imperialist subjugation by established Anglo-Dutch Liberal-created international institutions.
This action by those four powers must be intended to open the doors of nations generally to participate as fully sovereigns in the new system.
Since, as the case of China illustrates the point, the greatest amount of outstanding international debt and related accumulations, is currently denominated, still, in U.S. dollars, the possibility of avoiding a general breakdown-crisis of the planet as a whole, depends upon fixing the dollar at a recently fixed current valuation, perhaps a value sometime prior to August 1, 2007. Without such a measure, the situation of the world at large would tend to be hopeless, and a new, planet-wide new dark age would be virtually inevitable.
Such an agreement among that “big four” would automatically open the gates for the immediate full participation of other sovereign nations as true sovereigns. Without this initiating role by the U.S.A., there is no approach by any combination of other nations which could bring the presently soaring world crisis under voluntary control.
The intention of such a precisely defined form of New Bretton Woods system is the only existing option for avoiding the plunge of the planet as a whole into a prolonged, very deep new dark age.
Duration : 0:3:49
http://www.topflitefinancial.com/mrsavage
cell 615-485-1096
Senior Reverse Mortgage Specialist Bernard Savage tells the answers to the Top 10 questions that consumers have about reverse mortgages. Mr. Bernard Savage is available for speaking engagements in Davidson County. Call Bernard at 615-727-0300 ext. 222
Duration : 0:7:34
What are mortgage brokers paid and how is payment calculated? What is a good faith estimate and how can you tell junk fees from legitimate costs? Watch this Expert Real Estate Tips segment for more information about mortgage brokers fees and how mortgage brokers are paid.
Duration : 0:2:5
This is a demo of the Mortgage Buster! Software. Pay-off your home and all of your debts in one-third of the time. Do-it-yourself and $ave thousands of dollars in interest fees.
Duration : 0:8:10
Tips from Managing Partner Tim Burford at First Option Mortgage on how to refinance your mortgage, take cash out and get your refinancing done the right way.
Duration : 0:2:44
Quicken Loans client Kirk from Texas, discusses in this video review how Quicken Loans and Dana Staniec, his mortgage banker, helped him with his relocation. Kirk was surprised at how easy the entire mortgage process was. Kirk was able to get all of his questions answered immediately and received great communication. He was able to close his loan in around 35 days. Kirk recommends Quicken Loans and Dana Staniec to anyone looking to relocate, refinance or purchase a home.
Duration : 0:1:36
What is a fixed rate mortgage loan? A fixed rate mortgage means the borrower has the same monthly payments on the mortgage every month. Fixed rate mortgages are repaid within a specific time frame (10, 15, 20 or 30 years). Watch this Expert Real Estate Tips segment for all you need to know about fixed rate mortgages.
Duration : 0:0:51
