Thoughtful message from a blogger ...

good. that is right

Blame Octomom! ;)

Wild Rant or is it Doom & Gloom
,
No I did not "teach" economics, I lived it and still do. What are you trying to say anyway? A rant is obviously all you are doing.
Look at the facts, Madoff had followers who wanted to make the "big bucks" through a "pipe dream". People that believe a 2,000 sq ft home is worth $750,000 or more because someone else is willing to pay that price just because some financial institution is willing to roll the dice!!
That is the beginning of a financial meltdown.
Bush may have been the President but Greenspan was the facilitator. Imagine him retiring just before the shxx hit the fan!!
Look at the facts and you will see that the majority of the meltdown is in the 'high end" counties that "everyone wants to live in to keep up with the "Joneses".
Teachers and coaches don't get the opportunity to pick and choose their neighborhoods. They have to go where the schools are, "a la the jobs".
The losers are the other counties and neighborhoods that will be dragged down first, thanks to the "OC's" of the nation.
To put the blame on the "minority" who cheat to get ahead is the same small minded, quick return analysis that got us in this situation in the first place.

Let me add a little something here. The whole budget crisis isn't going away anytime soon. Look at prop 1b, which basically gives schools 9 billion dollars, which was due because of prop 13 or 98, but was never given to them. If that doesn't pass I have heard from various staff members at Walnut that the 2010 - 2011 budget is going to be killer. By that time they have to have 23 million cut from the budget (Walnut schools), if prop 1b doesn't pass then you could add another 8 - 9 million on top of that.

Do you think sports programs could survive that hit?

Must be those same evangelicals(spell check?) who voted for bush also right?

JESUS CAMP anyone?? Bahahahahahah

Former Caoch...you clearly never taught economics.

What is Madoff getting for stealing 50 Billion over 15 years, by his admission. In crooked circles that's at least 150 Billion and he's just "copping" to 50 !

What's the magic number? 38% ! Why is that number so important?

Add up all your bills + your mortage payment+ home owners insurance+ association fees if there are any and that has to total 37% of your income to qualify for a home. $10,000 a month is $3,800 total for house, bills and ins. So that buys you Norwalk! But magically IF you had a 680 to 800 FICO that meant you could almost buy a $750,000 home with no money down? Right?

Who changed the numbers, who changed the guidelines, who changed the requirements, how many cities allowed builders to over build over priced homes based on the "blind eye" reality of this magic 38% number?

Get ready for the Great Depression II. Half of all mortages are riddled with fraud. Those all will collapse. Still with me?

Then half of the remaining "good" loans are either suffering thru layoffs, impending layoffs or the "vanquishing" of income streams to "support" said "good" mortgage. Don't stop reading.

So now we're down to the last 25% of home mortages that are still being paid on time and people are either retired and on fixed incomes and are just fine...but wait...son and kids or daughter and kids...lost "their" home or jobs and ...opps!...moving BACK IN!

And the cops, teachers, doctors, nurses and support staffs are being "pinked" by cities who COUNTED on SAID taxes of OVERPRICED HOMES at 1.25% and now POOOOF! . But their house isn't upside down it's just that their savings won't last forever...and well with so many foreclosures and institutional failures well guess what? What do you expect THEM to do? Let's all play the Recalibtayion game for a couple of months and kid ourselves that the "problem" is "them" and not "ALL OF US" who never asked the tough question....how long can this last?

Next up is Municipalities, Prisons, and the ever increasing WAR BUDGET...and finally if you haven't turned me off yet....there's atht BAIL OUT for a problem we still have no idea how deep and wide the "cut" is and yup...it's EVERYONE ELSE'S PROBLEM....RIGHT. But there is RED everywhere? I mean Washington Mutual and Bank of America nd GM and Ford all could be wiped out in 12 months! And that ain't chicken "sh8T I'm selling Mister!

Fred just to put a cherry on top of this delicious Sundae of Doom...what happens to any community when the "newspapers and writers" lose their jobs and are silenced? And I'm not talking about the lack of advertizing dolars and it's consequence. I'm not talking about a Sports Page/Blog...what really happens when writers are silenced acroos the board?

Former Coach, I don't know your sport but let's say all of a sudden your players are doing things they never could before. They are stronger, faster, quicker and mayeb a litlle more "different" but you're winnings like you never thought you could. And why ask questions when YOU'RE winning RIGHT?Then all of a sudden a couple of your former players either drop dead or come down with illnesses and no one knows why. Still you're winning and you're not in high school anymore..But then two of your current players drop dead in sprints...now what? then you son attacks someone in a roid rage episode that ends in someone really getting hurt...get teh picture? Substitute athletes for bamks and players for homeowners and you se the X's and O's now?

Former Coach...we are all screwed one way of another on this economic melt down...get ready, they'll be allot of "former" whatevers in the near future.

Sorry for the rant but get ready for Depression II...it's coming as sure as Barry Bonds did Steriods.

Sorry for the speling..budget cuts on Spell and Garmmar checker, lol

Fred,
What we should be doing is putting together a "stimulus package" for teachers and coaches so we can continue to educate and facilitate our kids!!

They are the future!!

Let the big banks, investors and those over their heads in houses they should never have purchased in the first place pay for their mistakes not us and our taxes!!