The 2010 World Submarine Racing Championships

Kill The Young Ones

If we slaughter the kids, then they can't grow up hating our freedoms and half naked women.

Americans really have to take a good look at what we are doing .......... or not........ fuckin Jersey Shore is on and it ain't a repeat. Go Snooki

US drone kills house full of children

Marijuana Makes You Lazy & Stupid!

The comments on YouTube are awsome.

pretty sure i'm the motherfucking boss when i'm drivin and baked. i drive a lil slower, enjoyin the music and the scenery. pretty sure most scientific tests that have been done show that ppl driving stoned are way more cautious. i think if anyone takes an herb that lowers your blood pressure and allows you to breathe better would be a more focused, relaxed driver and it shouldn't be treated any differently then some driving wit a cig, and of course, most know there own limits.. what is she sayin

Gotta love this one........

Roll,roll,roll the joint, twist it at the end,
light it up, then take a puff and pass it to your friend.

True.....

This is all baloney.
I've known a number of people in my life that literally drank themselves to death.
On the other hand, I have NEVER heard or known of anyone that smoked themselves to death.

LOL.....

fucking cannabis nazi

LA unveils $578M school, costliest in the nation

I am sooooooo glad to see tax payers money being spent wisely.

"New buildings are nice, but when they're run by the same people who've given us a 50 percent dropout rate, they're a big waste of taxpayer money," said Ben Austin, executive director of Parent Revolution who sits on the California Board of Education. "Parents aren't fooled."

Oh shoots........

The pricey schools have come during a sensitive period for the nation’s second-largest school system: Nearly 3,000 teachers have been laid off over the past two years, the academic year and programs have been slashed. The district also faces a $640 million shortfall and some schools persistently rank among the nation’s lowest performing.

 There's no need to fear...........the US government is here to rescue those silly gooses.

Earlier this month, Secretary of Education Arne Duncan heaped praise on Congress for including $10 billion for “EduJobs” in a state-aid package that it had enacted. The move to subsidize teacher salaries and avoid layoffs was so admirable, Duncan told the press, because Congress’s “historic vote means school officials won’t need to make those tough calls.” Indeed, Duncan termed mailing 10 billion borrowed bucks to the states “a real, real act of courage.”

IOU Part Two: California To Issue IOUs For Second Year In A Row

The insolvent state of California which, just like the country of the USA, is operating without a budget (and who needs a budget when the Fed-PD complex will buy the bulk of anything and everything needed to fund ongoing daily operations), has once again ended up on the verge of bankruptcy. As a result, it has just passed a measure which for the second time in as many years (going all the way back to the Great Depression), will allow it to use IOUs in lieu of payment on everything from supplies to contracted services and health-care costs, so it can actually preserve cash to make payments to its generous debtors. On the road to banker serfdom, California has once again reached its goal.

Goldfinches Attack School Kids

New York (Reuters) - A flock of Goldfinches surrounded a North Attelborrow elementary school yesterday and attacked 13 school children bringing the total number of attacks this year to 126. Although there were no life threatening injuries reported, many of the school children said they will never venture outdoors again unless they have a pocket full of rocks.
New York representative Herb Bugerbrain said he wants to see a ban on bird feeders to decrease the number of these killer birds and is proposing installing rock buckets on every playground and in every city park. "It's insane to feed these predators, we must put an end to these attacks".
"They kill ducks" said George Longhorn, "I've seen them kill ducks and that leaves less for us duck hunters to hunt in order to keep the population of ducks down". "They are dangerous and you should shoot Goldfinches".
Ted Hackenstein from the NY Fish and Game said they will update the statement on their web site claiming  Goldfinches don't attack.
Anyone with any information to the whereabouts of these killers should contact your local hunting club.

Monday Morning Chuckle

Read this headline and scratched my bald head................

Trend of US Mortgages 'Under Water' Drops

 A smaller percentage of U.S. homeowners were saddled with "underwater mortgages" in the second quarter as more homes entered the foreclosure process even as price declines slowed, real estate Web site Zillow.com said on Monday. CNBC

 Laugh my ass off............Sweet....... so the more foreclosures, the lower the percentage of those that owe more than their home is worth. I guess they forgot the simple theory that for every empty home on your block the lower the less you will get for yours thus putting even more pressure on existing mortgages.

 

Bush Tax Cuts

So much crap is circulating over the Bush tax cuts and how we can't let them expire cuz it will hurt the economy.
I have argued for years with bozo's on various blogs that claimed the tax cuts where the reason for the economic growth the US experienced over the past decade.
My argument was it had nothing to do with tax cuts but rather cheap credit. The ability to borrow and borrow and borrow against fictitious asset values.

Watching what folks, governments and corporations were borrowing and how much they were leveraging themselves helped me better understand how fucked we really are.
Case in point: I looked at two homes that just foreclosed.
The first one the couple paid $160k for it back in 2003 and after refinancing several times ended up owing $294k by the spring of 2009.
So they pulled $134k in 6 years time. Let's put that a different way. That comes out to $22k a year or $423 a week. Not bad.

The next one the couple paid $120k back in 2001 and like many others refinanced it to death till they owed $247k and could no longer service the debt and went to foreclosure in July.
That's $130k in 9 years or $14k per year or $269 per week that this couple had to spend on vacations, clothes, cars, Xboxes, iPhones or whatever.
Neither of these homes had additions put on or does not appear to have had any type of remodeling done in the past decade.
These are just the tip of the iceberg and I could give oodles more examples but I think my point has been made.
This is why I say RE is dead and will continue it's down trend (10 to 20 years) till we reach a price level we haven't seen since the early 80's because for the past decade so many have lived off what I like to call "Unearned Income".
It is going to be impossible to replace that income.
But but housing prices will go up!
Sorry, but nope.
Prior to any housing boom the central bank lowers interest rates which in turn creates an easy credit environment that leads to a demand for goods (homes). Today the dipshits at our central bank can't lower the interest rates cuz they are already at 0% and to top it off, folks, corporations and governments are already over leveraged and can barely service the debt they have accumulated over the past decades. This is the reason we are heading into a deflationary cycle. Study what Japan has and is still going through.

And this is NH............ California along with many other states saw a much greater rise in RE values giving those that had a pen and could sign their name the ability to buy all kinds of cool stuff with their "Unearned Income".
I used to get a chuckle watching those car auctions out in Cal and the goofballs with their fake boobed girlfriends biding $180k on an old Camaro that today they are lucky if it pulls $18k. Where do you think that money came from? Unearned income.

"The Future Recession In An Ongoing Depression"

Spotted this on Zero Hedge and is a must read. But then again, perhaps sticking your head back in the sand would be easier.


GMI August