Comments for Bob's take on http://bobstakeon.wordpress.com Just another WordPress.com weblog Mon, 23 Mar 2009 00:51:25 +0000 http://wordpress.com/ hourly 1 Comment on AIG Bonus just tip of the ICEBERG by Bob http://bobstakeon.wordpress.com/2009/03/22/aig-bonus-just-tip-of-the-iceberg/#comment-55 Bob Mon, 23 Mar 2009 00:51:25 +0000 http://bobstakeon.wordpress.com/?p=106#comment-55 Fortunately the CDS Markets are now frozen by ICE. http://justsomethoughtsbybob.wordpress.com/2009/03/08/cds-markets-frozen-by-ice/ Fortunately the CDS Markets are now frozen by ICE.
http://justsomethoughtsbybob.wordpress.com/2009/03/08/cds-markets-frozen-by-ice/

]]> Comment on Economic Recovery update by Rastignac http://bobstakeon.wordpress.com/2009/02/28/economic-recovery-update/#comment-47 Rastignac Tue, 03 Mar 2009 15:48:28 +0000 http://bobstakeon.wordpress.com/?p=89#comment-47 Agree with almost everything you say. Unfortunately, President Obama has put himself so much up fgront of all budget initiative that it will be difficu lt for congress to fight him without disawowing him. We have to wait two years before the new electikons, to bring some sanity in internal and international politics. Michel Agree with almost everything you say. Unfortunately, President Obama has put himself so much up fgront of all budget initiative that it will be difficu lt for congress to fight him without disawowing him. We have to wait two years before the new electikons, to bring some sanity in internal and international politics.

Michel

]]> Comment on Another corrupt Obama appointee? by Robin Weirich http://bobstakeon.wordpress.com/2009/03/02/another-corrupt-obama-appointee/#comment-43 Robin Weirich Mon, 02 Mar 2009 21:32:38 +0000 http://bobstakeon.wordpress.com/?p=98#comment-43 Wow! Wow!

]]> Comment on Foreclosure update by Robin Weirich http://bobstakeon.wordpress.com/2009/03/02/foreclosure-update/#comment-42 Robin Weirich Mon, 02 Mar 2009 20:04:34 +0000 http://bobstakeon.wordpress.com/?p=94#comment-42 Great article Bob, we are not out of the woods yet, that is for sure. We have about 18 - 24 months ahead. Robin Great article Bob, we are not out of the woods yet, that is for sure. We have about 18 – 24 months ahead.
Robin

]]> Comment on Economic Recovery update by Mike http://bobstakeon.wordpress.com/2009/02/28/economic-recovery-update/#comment-41 Mike Mon, 02 Mar 2009 16:22:50 +0000 http://bobstakeon.wordpress.com/?p=89#comment-41 Just passing by.Btw, you website have great content! ______________________________ Just passing by.Btw, you website have great content!

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]]> Comment on Mortgage Rates by loanarranger http://bobstakeon.wordpress.com/2009/01/26/mortgage-rates-2/#comment-40 loanarranger Sun, 01 Mar 2009 16:26:32 +0000 http://bobstakeon.wordpress.com/?p=45#comment-40 You are also right, a lot has been discovered hidden in the Stimulus Bill that changes this old blog. Yesterday, Warren Buffet said that he made "stupid mistakes" investing last year and thinks the economy will not recover until 2010 or perhaps longer. Why is that important? Because the Obama administration has a new Budget of $3.7 Trillion that assumes that the economy will improve by the end of this year and gain 3% in 2010. That means all the fiscal assumptions are far too rosey which spells a Federal DEBT of over 18 TRILLION. The solvency of the US could be at stake and many say interest rates will get very ugly. Since I am 60 and most of Obama's advisors look like they just got out out of Grad school, I worry they look at charts and have no sense of history. Many are also trying to predict that the foreclosure problem is almost over--but as we saw last week, Realty Trac said they discovered that 70% are still hidden on Banks' books. Some also argue that foreclosures do not hurt the economy that much. You are also right, a lot has been discovered hidden in the Stimulus Bill that changes this old blog. Yesterday, Warren Buffet said that he made “stupid mistakes” investing last year and thinks the economy will not recover until 2010 or perhaps longer. Why is that important? Because the Obama administration has a new Budget of $3.7 Trillion that assumes that the economy will improve by the end of this year and gain 3% in 2010. That means all the fiscal assumptions are far too rosey which spells a Federal DEBT of over 18 TRILLION. The solvency of the US could be at stake and many say interest rates will get very ugly. Since I am 60 and most of Obama’s advisors look like they just got out out of Grad school, I worry they look at charts and have no sense of history. Many are also trying to predict that the foreclosure problem is almost over–but as we saw last week, Realty Trac said they discovered that 70% are still hidden on Banks’ books. Some also argue that foreclosures do not hurt the economy that much.

]]> Comment on Mortgage Rates by Tom Lawrence http://bobstakeon.wordpress.com/2009/01/26/mortgage-rates-2/#comment-39 Tom Lawrence Sun, 01 Mar 2009 15:09:33 +0000 http://bobstakeon.wordpress.com/?p=45#comment-39 Your window on the future is the Case Shilling index. This index represents relationship between prices of houses and general price levels. When housing values have risen in the past, general prices have caught up or if prices did not move housing prices have fallen. Case Shilling has declined about 20% from its peak in 2006. Yet it is 40% below the highs and 60% above the 2000 level. In our shop we call 2000 the Barney Frank Base because this is he year he became interested in "helping" Fannie Mae and Freddie Mac. But that is really a bum rap because without the help of Tom Bliley, Graham and Leachman, the Glass-Seagall act would never have been repealed in 1999. The BGL was the real enabler. The repeal enabled the mortgage derivitative market to exist. Many believe the goal of the administration is the same as of any government in financial trouble because of spending more than it is taking in but limited by a recession and tax revolt. Instead of borrowing or taxing, It monetizes the debt and pays back expensive dollars with cheap dollars. Creating more money and expanding the money supply. The creation is by "printing" because the bankings system cannot expand the money supply through the conventional multiplier when it is not lending. Although, they don't actually "print" more money. They just create it elecronically. Only the Federal Government can do this. A minority opinion is Obama is not the Messiah that chris matthews thinks he is. This opinion holds he is just a piped piper manipulating the greedy burgers with the intention of stealing the future of their children. It is the ultimate payback for years of slight. If you really want to hurt America - turn it into France. So, if Economics 101 is boring to you, drop back and use the following three sources of information to know where we are headed 1. Case Shilling index 2. Obama fiscal programs 3. Recorded history For you see, history does repeat itself. As a species, we just haven't historically demonstrated we are intelligent enough not to. Your window on the future is the Case Shilling index. This index represents relationship between prices of houses and general price levels. When housing values have risen in the past, general prices have caught up or if prices did not move housing prices have fallen.

Case Shilling has declined about 20% from its peak in 2006. Yet it is 40% below the highs and 60% above the 2000 level. In our shop we call 2000 the Barney Frank Base because this is he year he became interested in “helping” Fannie Mae and Freddie Mac. But that is really a bum rap because without the help of Tom Bliley, Graham and Leachman, the Glass-Seagall act would never have been repealed in 1999. The BGL was the real enabler. The repeal enabled the mortgage derivitative market to exist.

Many believe the goal of the administration is the same as of any government in financial trouble because of spending more than it is taking in but limited by a recession and tax revolt. Instead of borrowing or taxing, It monetizes the debt and pays back expensive dollars with cheap dollars. Creating more money and expanding the money supply. The creation is by “printing” because the bankings system cannot expand the money supply through the conventional multiplier when it is not lending. Although, they don’t actually “print” more money. They just create it elecronically. Only the Federal Government can do this.

A minority opinion is Obama is not the Messiah that chris matthews thinks he is. This opinion holds he is just a piped piper manipulating the greedy burgers with the intention of stealing the future of their children. It is the ultimate payback for years of slight. If you really want to hurt America – turn it into France.

So, if Economics 101 is boring to you, drop back and use the following three sources of information to know where we are headed 1. Case Shilling index 2. Obama fiscal programs 3. Recorded history

For you see, history does repeat itself. As a species, we just haven’t historically demonstrated we are intelligent enough not to.

]]> Comment on Mortgage Rates by Bob D http://bobstakeon.wordpress.com/2009/01/26/mortgage-rates-2/#comment-36 Bob D Fri, 27 Feb 2009 07:26:28 +0000 http://bobstakeon.wordpress.com/?p=45#comment-36 It was not widely reported by the press except on CNBC, but RealtyTRAC reported that they calculated that Banks are holding on to 70% of the foreclosures as of the middle of Feb 09. That means we have just seen the start of the "toxic assets" moving through the system. It means this downturn could last years--not months. There are many reasons why the lenders are keeping these assets on the books. It was not widely reported by the press except on CNBC, but RealtyTRAC reported that they calculated that Banks are holding on to 70% of the foreclosures as of the middle of Feb 09.
That means we have just seen the start of the “toxic assets” moving through the system. It means this downturn could last years–not months. There are many reasons why the lenders are keeping these assets on the books.

]]> Comment on Stimulus Bill update by loanarranger http://bobstakeon.wordpress.com/2009/02/12/stimulus-bill-update/#comment-28 loanarranger Thu, 12 Feb 2009 18:10:51 +0000 http://bobstakeon.wordpress.com/?p=72#comment-28 China doesn't want to buy our Bonds---but they have to for now because of worldwide turbulence..http://www.ft.com/cms/s/0/ba857be6-f88f-11dd-aae8-000077b07658.html?nclick_check=1 China doesn’t want to buy our Bonds—but they have to for now because of worldwide turbulence..http://www.ft.com/cms/s/0/ba857be6-f88f-11dd-aae8-000077b07658.html?nclick_check=1

]]> Comment on Stimulus Bill update by loanarranger http://bobstakeon.wordpress.com/2009/02/12/stimulus-bill-update/#comment-27 loanarranger Thu, 12 Feb 2009 17:52:01 +0000 http://bobstakeon.wordpress.com/?p=72#comment-27 According to "The Wall Street Journal," the city of Las Vegas wants to use two million dollars of the economic stimulus for new neon signs. City officials are concerned, since they don’t want to make the city look tacky. According to “The Wall Street Journal,” the city of Las Vegas wants to use two million dollars of the economic stimulus for new neon signs. City officials are concerned, since they don’t want to make the city look tacky.

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