Welcome to Hypocrites Paradise. Politician's lie. Join us in exposing the hypocrites as we seek the truth and defend liberty. In an era in which "lamestream" media pursues a political agenda instead of being a neutral voice, we are convinced that people of knowledge seek an independent view of today's changing events. Truth is the voice of freedom and is the beginning of solutions. Stand up and be heard!

Obama’s $20B Proposal: A Drop in the Bucket

mortgage-bucket-drop-image
Although in the early stages, the battle lines are already being drawn in the sand over the Presidents reported proposal to force mortgage lenders and servicers to either pay fines of over $20 billion or to modify an equal amount of mortgage loans by writing down the principal balances.

On one side you have the mortgage industry, although yet to receive any proposal from the Obama Administration, they are already sounding the warning bell by claiming that writing down principal balances will do little to help the already fragile market recover and that $20 billion is too high. In support of the banking industry claim, they cite that in just over a year since the government loan modification programs began, loan modifications have done little to stop the foreclosure crisis; despite the fact the mortgage industry has privately modified twice as many loans as the governments crown jewel, HAMP. In the first year alone, 20 percent of all loan modifications have already defaulted again with the government projecting that ultimately as many as 60 to 70 percent of loan modifications will default a second time.

And on the other side, we have the always vocal Rep. Maxine Waters (D-Ca), who claims that the President’s proposal does not go far enough. For evidence, Ms. Waters cites the very liberal Center for Responsible Lending estimates that foreclosures between 2009 and 2012 will result in $1.86 trillion in lost wealth for families.

CoreLogic estimates that the nation has an aggregate negative equity of $744 billion. So what’s $20 billion going to do? If the first thing that came to your mind was “nothing,” then we’ve found some common ground. It’s like using a garden hose to put out a house fire…a drop in the bucket.

Read more…

Why Bernanke Must Go

bernanke-testifying-image
Federal Reserve Board chairman Ben Bernanke, in testimony before the Senate Banking Committee, said he is dismayed by the persistence of high foreclosure rates, declining home values, and the futility of government efforts to engineer a recovery in the housing market.

Read more

Unemployment Rate Jumps to 22.5%

With the release of the latest jobs report from the Labor Department, the “true” unemployment rate as reported by Shadowstats.com jumped from 22% in August to 22.5% in September. The hardest hit sectors were teachers and local government workers. It was the largest amount of layoffs reported in these sectors in three decades and it more than offset weak hiring in the private sector. The official government unemployment rate remained stuck at 9.6%. The large jump in the unemployment rate came from the underemployed sector and the already jobless who weren’t actively seeking employment.

Read more…

Why it’s So Hard to Watch Lame Street News Part 2

So after watching Diane Sawyer and the ABC Nightly News continue their Obama love fest reporting, I scampered on over to MSNBC and had to listen to Keith Olbermann interview Robert “the Third” Reich, who was the Labor secretary under Bill Clinton.

Read more…

Why it’s So Hard to Watch Lame Street News

Last night watching Diane Sawyer and the ABC Nightly News team in action was a bit difficult to take. What’s worse is having to listen to them while I’m eating my dinner, a perfect combination for a case of bad gas.

Read more…

Unemployment Rate Jumps to 21.7%

Although the official White House statistics continued to show that the unemployment rate held steady at 9.5% even with a net loss of 131,000 jobs in July, the unofficial unemployment rate as reported by John Williams’ Shadowstats.com shows the effective unemployment rate jumped from 21.3% to 21.7%

If you’re confused about how the government’s unemployment rate is far lower than that released by Shadowstats.com, read here.

Recession Birth Rates Bad News For Government/Pension Ponzi Schemes

In what can only be bad news for Government entitlement and Public pension programs, numbers released Friday by the National Center for Health Statistics show births fell 2.6 percent last year even as the population grew. The U.S. birth rate has fallen to its lowest level in at least a century as many people apparently decided they couldn’t afford more mouths to feed.

Read more…

News Keeps Getting Worse For Democrats

Talk about bad timing, the current economic news couldn’t have come at a worse time for Democrats who are facing impatient voters in just over two months. While the Great Leader enjoys his fourth round of golf on his eighth vacation this year, many Democratic strategist are beginning to concede the wave of bad news and the backlash that is being felt towards a Congress and President who have done virtually nothing to create jobs will almost certainly lose them the House…and maybe the Senate.

Read more…

Spike In Layoffs Haunt Obama’s Message

Ah yes, wasn’t it just yesterday at that nice informal backyard meeting when Obama proudly announced that America is slowly moving in the right direction? Thankfully he gave that speech yesterday because if it’s true that the truth hurts, Obama has a lot of pain to deal with today.

Read more…

Thank You Christina Romer

Now at first glance you’d think that I was thanking Christina Romer for her 19 months of public service as part of the Obama economic team, but in actuality, I’m thanking her for stepping down from the team because she was one of the primary architects of the President’s Economic Stimulus bill that raised unemployment…not lowering unemployment as she promised.

Read more…

Democrats - Give a man a fish, he eats for a day.

Republicans - Teach a man to fish, he eats for a lifetime.

Libertarians - Learn to fish or starve.