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Genesis Posts: 71412 Incept: 2007-06-26 
KD^2 
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http://market-ticker.denninger.net/2007/....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2007-10-06 12:42:08
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Savyindallas Posts: 15 Incept: 2007-08-08 Dallas Suspended
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The more I read KD's commentaries, I can't help but think he sounds like Ron Paul. What other candidate is making such a case to the American people? I know KD has a problem with RP's foreign policy -he believes in the war on terror, the need to support the Iraq war, and probably the coming Iran war and others that the Neocons are promoting. I may be overstating this, but this is my impresion from previous posts. The problem I see is that we cannot finance this military interventionism unless we maintain the irresponsible financial fraud and gimmicry that we are promoting -and even then, maybe not for much longer, as we are on the verge of major disruptions and financial calamity that KD so eloquently warns about. Are there any other candidates or other leaders in the Congress are are supporting KD's agenda (both economic and foreign policy)? If so, who are they? If so, I'd like to see some link which demonstrates such a plan.
2007-10-06 15:00:21
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Nightowl Posts: 2279 Incept: 2007-06-26 
On a 45 for 18 Online
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Great ticker Karl. I think you have clearly highlighted the points that need attention. The bigger problem is action outside of this forum/ticker. From my previous activisim work, the only way to make the voices heard is to team up with or create a non-profit group, get petitions started and instant-action-alert mailing lists. Your audience is small and getting outside of this group is essential to incite change in the issues you have highlighted. And judging by the number of middle to upper class members on this board is entirely feasible to fund this initially. There are plenty of talented computer programmers here that could set up the website. The biggest effort lies in the outreach and education. If this forum is serious about informing the public and creating change this is the next step, IMO. Or are we here just to make money? If that's the case then we and the pigmen aren't so different. Last modified:
2007-10-06 15:06:27 by nightowl
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Archelogos Posts: 455 Incept: 2007-10-01 Foothills of Mt Rainier WA
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Love it KD! And by the way, in an earlier thread we were talking about the various coralations between Credit/DTI/LTV and default. One guy was pushing FICO, I was looking at LTV and you were pushing DTI. You were right. I need to find post the link (and find it first), but in the last day or so I was reading the statistics of the 05 & 06 vintages and the highest R2 was the DTI. BY FAR. Thanks!
2007-10-06 15:07:23
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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Owl, I have the software already to do online petitions. It has existed for quite some time. What it needs is about a solid man-week worth of effort to update the database on Congress and the Senate, so it has proper names, district numbers and fax numbers in it. Yes, the update template is accessible from the outside world. ALL of the tools necessary already exist. There were a bunch of people talking about how they wanted to help "moderate" the forum. Well, guess what - the real WORK that will make a difference lies in doing the hard work - in this case, getting the legislative database up to date so that my computerized fax petition system is useful for this. Web site? Simple. I've got that covered too. This is trivial but it is not something I'm going to do alone, unless I focus all my time there and ignore what I'm doing now. So...... where are the people willing to get off their ass and put the time and effort into it? ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2007-10-06 15:15:31
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Archelogos Posts: 455 Incept: 2007-10-01 Foothills of Mt Rainier WA
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When I worked for a congressman in DC I handled these types of letters and wanted to give just a couple suggestions. 1. Only send it to your own congressman or Senator. If they think you're not a constituent it will go in the trash. 2. Snail mail it. Most emails are treated like spam, even from constituents. 3. Send it to both the DC office and the district office. 4. Follow it up with calls and other letters, but ONLY call the DC office. There is a saying on the hill "The real nut jobs don't dial long distance". 5. Find out who you're Congressman's legislative assistant (LA) is for Economic affairs. Ask for him when you call and bug them. Eventually you will get on a first name basis with them. Senators, as well as members of congressional leadership, have more than one LA working on economic issues. BUG ALL OF THEM. 6. If you're a registered Republican also bug the RNC, if your a dem, the DNC. 7. Bug the hell out of the committee staff too. Finally, you will get a HELL of a lot farther with the legislative branch than the Administrative. Thats always been the case but especially with this Administration. BUT STILL PESTER THE HELL OUT OF 'EM!
2007-10-06 15:32:14
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Archelogos Posts: 455 Incept: 2007-10-01 Foothills of Mt Rainier WA
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KD - I'd LOVE to help on setting up an ad hoc lobbying effort.
2007-10-06 15:33:42
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Nightowl Posts: 2279 Incept: 2007-06-26
On a 45 for 18 Online
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I am willing to help. I can commit 5-6 hrs per week presently. Just spell out what you want me to do.
2007-10-06 15:34:38
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Widgeon Posts: 6525 Incept: 2007-08-30
OK Online
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In the 70's and 80"s I was taught that you should try very hard to keep your house payment or rental to 25% or less of your income. Further, under NO CIRCUMSTANCES should it exceed 30%. The point of this? Simply that by my training and experience, saying that the ratio could be 1/3 (33%) is/was extremely risky. I know that is old-school and that there are folks out there now spending in excess of 50% of their income on housing. That is Crazy.
2007-10-06 15:38:52
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Etz3l Posts: 9103 Incept: 2007-06-26
Online
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Very Good Karl. Thanks!
---------- Treating the symptoms of financial corruption isn’t the same as removing the causes.
2007-10-06 16:03:34
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Shortqqq Posts: 314 Incept: 2007-07-20
las vegas Online
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what do SIV's and Conduits accomplish other than act as a vehicle to hide liabilities and defraud investors?
2007-10-06 16:30:49
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Shrpblnd Posts: 1169 Incept: 2007-08-06
Los Angeles, CA
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Quote:You must also not have more than $371.43 worth of additional debt service in order to stay within the 36% "back end" ratio. This is an excellent point, but the 800 pound gorilla in the DTI ratio is STUDENT LOANS. Soaring college education costs have resulted in a massive increase of student loans. In addition to federal loans, private loans have tripled over the past five years to $17.3 billion. These private loans carry variable rates that can reach 20 percent interest. While it has not been possible to discharge federal loans in a bankruptcy for quite some time, starting in 2005 even private loans are virtually impossible to get discharged now. Should a borrower default, the student loan industry has collection powers that would make a mobster envious. There are cases where former students have been medically declared as permanently disabled, and the collection agencies garnished their disability checks. This is truly a scandal and is making an entire generation into nothing more than indentured servants. Homeownership will be all but impossible for these folks, as every dime of their income will go to paying back these loans. If anyone on this forum has a child entering college, please be extremely careful taking out a private loan. Read the fine print in detail. Make sure the interest rate and any increases are clearly spelled out. Disclosure laws are in their infancy in the student loan industry. Do not believe what the financial aid officer tells you as they may receive kickbacks to steer students to high cost loans. Keep records of all payments made and any records showing a loan paid in full permanently. Mistakes are rampant in the industry, and everything is stacked against the borrower. Last modified:
2007-10-06 16:52:47 by shrpblnd
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Lukehappy Posts: 978 Incept: 2007-06-26
Santa Fe, NM
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I have time to volunteer too. Probably 10-15 hours per week. I'll stand by ....just let me know what I can do. I type pretty well, and can follow directions!.
2007-10-06 17:43:59
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Financeguy Posts: 4945 Incept: 2007-08-10
Charlotte
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Well done KD. I am forwarding the ideas to some friends in the media. It may not help but I feel like we have to try something.
---------- "Granted, if you are not into Barbara Streisand and creme brulee, South Beach could be a tad lonely." Eleua
2007-10-06 18:00:19
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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I'll start working on it. What needs to happen is that the database needs to be gone through, state-by-state, and the records that need CORRECTING need to be flagged. If you can put effort into this please PRIVATE MESSAGE me and I will give you a state and the link for the form to start with. Do one, I'll give you another. I'll explain exactly what I need to fix it. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2007-10-06 18:49:00
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Isaac Posts: 535 Incept: 2007-07-27 
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Quote:You can start by going over to http://www.senate.gov/ and http://www.house.gov/. Look up your Representatives and Senators and fax them a copy of this letter. There's no link for the letter ---------- "Diversity: a Propaganda Mechanism used discriminate against white males, flood the country with illegal aliens, and indoctrinate your child into thinking that being gay will make them a better artist" --ME!
2007-10-06 19:19:10
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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The Ticker IS the letter. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2007-10-06 19:20:36
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Cobra2411 Posts: 6153 Incept: 2007-06-26
Dark Side of the Moon
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Archelogos, Great tips. Gen, I posted the ticker and link on my local RE investors email system. They kind of hate me now because most of them don't believe in bubbles and the think Me and people like Me are to blame for the housing correction. Nothing to do with RE being overvalued, it's a few chicken littles like us that are crashing the market... Also I'll pitch in and help with the DB. I'll PM you about it. ---------- Suppose you were a criminal, and suppose you were a member of Congress; but I repeat myself...
2007-10-06 19:40:55
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Archelogos Posts: 455 Incept: 2007-10-01 Foothills of Mt Rainier WA
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Would love to Gen but I don't run any messaging programs (PM's run similar to IM or are the same thing right?) on my system, have had issues in the past.
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2007-10-06 22:08:18 by archelogos
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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Nope Arch, if you click my name on the original here you'll see a "Send private message to" link. Click THAT and it will send what amounts to an email to me on the forum. I will respond with a state and how you do what needs to be done. Finish one state, I'll send you another. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2007-10-06 22:31:02
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Guy1976den Posts: 743 Incept: 2007-09-19
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Karl, You forgot 1 point. Default on the debt! US government is spending money like crazy and running up huge deficits. At some point when USD goes down even more, real prices go up from inflation (for our government too) and foreigners stop buying newly issued government debt (because of falling value of the currency), government debt could be defaulted on. Any such default would cripple US government and destabilize USA. We would lose our AAA rating and go way of Argentina. Without foreign investments and without fixing our fiscal practices we are risking national security as well. (just an idea) By the way great job on the ticker.
2007-10-06 23:57:28
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Genesis Posts: 71412 Incept: 2007-06-26
KD^2
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Very unlikely we will default. What will happen though is that we will be forced to repudiate huge parts of the "mandatory" spending (that would be Medicare in particular and Social Security down the road) in order to be able to continue to sell Government Bonds at an acceptable coupon. The market will force us to do the right thing whether we want to (or the politicians want to) or not. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2007-10-07 00:00:35
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Teddy Posts: 91 Incept: 2007-07-29
MT
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FYI here's the link to the text of the Gramm-Leach-Bliley Act which is the law that repealed the Glass-Steagall Act. http://frwebgate.access.gpo.gov/cgi-bin/.... You can also go http://thomas.loc.gov and do a search on Public Law 102 in the 106th congress and get all the information you want on the Gramm-Leach-Bliley Act. ---------- "They have no idea how bad it is out there......THEY HAVE NO IDEA !!!!" --Jim Cramer-- Last modified:
2007-10-07 00:26:34 by teddy
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Macfly Posts: 881 Incept: 2007-10-05
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great ticker. i sent off a couple of letters to my reps...tried to go to the finance committee website which lists all the members. tried to send them the letter too but it wont let you send it unless you are a member of their district. lame. if you are writing to them as a member of the committee you should be able to write from any state. any ideas around that for sending email? or maybe snail mail is the only way to go. ---------- Mishkin: Do not look into the bag... When you realize what's in the bag, you will realize the dollar is toast. Do not audit the Fed and force us to show what's in the bag. Be warned. Some secrets are best kept in the closet. Joe Q Public: Mishkin, STFU. Truth wins out eventually. -stuart on ZH
2007-10-07 12:41:08
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Etz3l Posts: 9103 Incept: 2007-06-26
Online
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Quote:"The economic fundamentals are sound." The Alarming Parallels Between 1929 and 2007 http://www.prospect.org/cs/articles?arti.... ---------- Treating the symptoms of financial corruption isn’t the same as removing the causes.
2007-10-07 13:02:00
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