Science fiction writer Ben Bova wrote:
The most prescient — and chilling — of all the science fiction stories ever written, though, is “The Marching Morons,” by Cyril M. Kornbluth, first published in 1951. It should be required reading in every school on Earth.

The point that Kornbluth makes is simple, and scary: dumbbells have more children than geniuses. In “The Marching Morons” he carries that idea to its extreme, but logical, conclusion.

Kornbluth tells of a future world that is overrun with dummies: men and women who don’t know anything beyond their own shallow personal interests. They don’t know how their society works, or who is running it. All they care about is their personal — and immediate — gratification.

A comedy with similar reference....Watch the trailer......click me


Wednesday, March 31, 2010

Fannie Mae: Delinquencies Increase in January

January Fannie Mae Delinquency Rate Climbs To New Record At 5.52%, 14 bps Higher Than December, Double From Year Ago
                                       Ouch



What?
But but but the lady in the commercial said it's a great time to buy..........the bimbo from the National Association of Realtors said   "The dream of home ownership has never been so attainable"...........

I wonder........hmmmm.... I wonder if it's been a little bit toooooooo attainable and perhaps thats what got us in this heap of shit...........easy credit.....no money down....tax credits.......Option ARM's........Interest Only........No Doc........etc..
What a joke.

Time to sell........not time to buy.

While on the subject of defaults.......

March Records Fastest Ever CMBS Delinquency Deterioration In History According To TREPP

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