DIM SUM

Just back from her trip to Aspen, Moosh and the girls are off to China!

It takes real sustained effort to piss away $1.5 billion a year on travel, but Moosh and Barry don’t seem to mind.

There’s just no rest for the first family. Barry is playing golf in Florida every weekend (and no doubt visiting South Beach bath houses with boy-toy Reggie). He’s too busy to attend national security meetings, but always has time for 18 holes (and Reggie’s putter).

I’m so glad they’re able to enjoy themselves at our expense. They’ve really earned it. Maybe we can send them one a one-way trip to Siberia, courtesy of Vlad and the boys in Russia.

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Mooch, her daughters, along with mama Mooch will be leaving for China tomorrow at our expense. Heck, just another day in the neighborhood for them. This is another example of in your face grandeur via the Obama family…another vacation that costs tons of taxpayer dollars. But what the hell, the msm gives the thumbs-up, after all…they’re democrats, and they’re very, very special dontcha know!

Yet many of us across this land are struggling to make an honest living, pay our bills and raise our families.

Read more at http://angrywhitedude.com/2014/03/picture-day-mooch-china/#P4VfwJuQO7fxIfvg.99

WH: ‘Real Treat’ for Michelle Obama to Take Her Mom and Daughters to China

Tuesday, March 18, 2014

So glad the American taxpayers can oblige.
Check it out:

First lady Michelle Obama “has been looking for an opportunity to go to China,” a White House official said on Monday. And she considers it a “real treat” to take her daughters and her mother with her — a trip she’s making at considerable expense to taxpayers, although the White House refused to give a dollar figure.

“You know, the first lady has talked about the importance of young people here in the United States learning about other cultures. She believes that about her own children, and has seen this as a really unique opportunity to share a very different part of the world with her two daughters and with her mother as well,” Mrs. Obama’s Chief of Staff Tina Tchen told a conference call on Monday.

Reverse Mortgages 101

Reverse Mortgages 101

By Dennis Miller

My grandfather liked to use clever sayings to make a point. One of his favorites was, “the same thing, only different!” As we pulled together this article, I immediately thought of how his funny little saying applied.

The Same Thing…

When you buy an annuity, you give a private company a sum of money in exchange for its promise to pay you a fixed amount every month until you die. As an investment, it’s not likely to pay off – unless you happen to outlive your expected mortality – but it may still be a good idea. And if you’re one of the lucky folks who outlive their actuarial life expectancy, an annuity can turn out to be a terrific investment.

A reverse mortgage is quite similar. But instead of writing a big check to an insurance company, you give the bank a mortgage on your home based on your current equity. In return, the mortgage company agrees to pay you a certain amount every month for some period of time: until you die, move out, or celebrate your 100th birthday (more on that later). For a reverse mortgage to be a good investment, you have to outlive your expected mortality and stay in your home.

It may not turn out be a good investment, but under certain circumstances it could still be a good idea. We’ll examine what a reverse mortgage is and how to determine if one is right for you. We also consider many of the risks involved, suggest steps to improve your position, and pass along tips on how to get the best possible deal available.

Reverse mortgages have many individualized, variable components. For our purposes, we are sticking to the basic concepts. If you think you are a good candidate, make sure to consult a licensed, professional HUD counselor to help tailor the product to your needs.

…Only Different

I’ve looked into reverse mortgages several times, and they always made me uncomfortable. The value of owning your home free and clear is one of my core beliefs.

Personally, paying off my mortgage was a tremendous emotional relief. Now it’s time to challenge that idea.

What if you could mortgage your home and no matter how high the balance on that mortgage got, no one could throw you out of your home? As long as you kept up your home and paid your taxes and insurance, you could live there as long as you wanted. What if the property value became less than the balance of the mortgage, yet if you moved out and sold the home, you would not have to make up the difference? Or, when the house sells, the reverse mortgage is paid off, and you get the balance of any remaining equity?

In essence, these are the ideas behind a reverse mortgage. But just as insurance companies tilt the odds in their favor by setting the monthly payouts, the same is true for banks that hold reverse mortgages.

However, the “only different” part is this. Some reverse mortgages may be capped at a certain age (generally 100).  The rules are constantly changing so be sure you check if you apply for one.  With the advances in modern medicine, this could become a factor.. Unlike an annuity that continues to pay every month no matter how long you live, the payments from a reverse mortgage may have a stopping point. You still own your home after that and you can still live there until you die or it is no longer your principal residence, but you no longer receive monthly payments.

The banks do very well financially on most reverse mortgages. Most folks send checks to the bank for 25 years or more before they own their home outright. With a reverse mortgage, the bank will own all – or a major part – of the equity in your home, and in much less time. You still have title to the property, but your equity could be depleted. The good news is they must continue to send you monthly checks which is the risk they take.

Reverse mortgages are not right for everyone. While you may be feeling the pinch, there may be better remedies for your situation. If you are a good candidate, we can help you understand some of the common pitfalls and mistakes so that the monthly check can help you have “money forever.”

Back to Basics

A reverse mortgage is a special type of home-equity loan sold to homeowners 62 and older. It gives a homeowner access to some of the equity in their home in the form of monthly payments, with the protection of knowing that they can stay in their home as long as they pay their taxes and maintain the property.

When you die or move out, the mortgage must be repaid. The Federal Trade Commission report Reverse Mortgages states:

“The loan must be repaid when the borrower dies, sells the home, or no longer lives in the home as a principal residence. … Most reverse mortgages have a ‘nonrecourse’ clause, which prevents you or your estate from owing more than the value of your home when the loan becomes due and the home is sold.”

Federally insured reverse mortgages, known as Home Equity Conversion Mortgages (HECMs), are backed by the US Department of Housing and Urban Development (HUD). The National Council on Aging reports that HECMs represent 95% of reverse mortgages originated in the US. Since HECMs make up the vast majority of reverse mortgages, they are the focus of our report.

HUD Counseling and Other First Steps

Before a homeowner begins the application process, they must go to a HUD-approved counseling agency to learn about the cost and features of these loans. As you read on, you will probably agree that the cost of HUD counseling is money well spent. Most agencies charge around $125. The fees can be added to the loan proceeds, and you cannot be turned away if you cannot afford the fee.

The lender’s upfront fees can be quite expensive. Nevertheless, there are two types of HECMs: the HECM Standard Loan; and the HECM Saver Loan, which has a lower closing fee. For example, if a homeowner has a $250,000 home with no existing mortgage, the standard fee at closing (which is added to the mortgage) is $14,721. The HECM Saver Loan fee is $9,746.

The amount of monthly payments also varies. A 65-year-old with a Standard Loan would receive $754/month, while that same person with a Saver Loan would receive $730/month. In addition, there is a capped monthly service fee of $35 or $420 per year added to the loan to cover servicing costs.

The monthly payment also varies by the age of the homeowner when he takes out the loan. If you own a $250,000 home and you take out a HECM standard loan at age 65, your payouts will be $754/month. If you wait until age 75, they’ll be $950/month and $1,380/month if you hold off until age 85. The offered amounts fluctuate weekly with interest rates, just as mortgage interest rates do.

Please note that we recommend that both spouses be on a reverse mortgage. If there’s an age difference, the monthly amount is based on the age of the younger spouse.

So… should I get one?

Just because you qualify for a reverse mortgage doesn’t mean you should get one. Before you consider a reverse mortgage, you should check out our unbiased report that will give you all of the details for evaluating whether this is a good step for you. You’ll learn:

  • How a reverse mortgage is different from what you probably think it is, and why the number “100” is the most important number to consider… page 5.
  • The two types of reverse mortgages that comprise 95% of the market; pick the wrong one and you could have to shell out nearly 50% more in fees without even knowing it… page 6.
  • The three questions you must answer before you take on a reverse mortgage; ignore them and you could be trapped in your home forever… page 9.
  • The six-part checklist you need to ask your spouse or housemate to see if both of you can actually stay in your home… page 10.
  • The risks that come with a reverse mortgage: these are the ones the companies will never tell you about, but they’re real… page 13.
  • Who’s getting a reverse mortgage these days? The answer may surprise you, but it’s a reflection of the times… page 19.
  • Other realistic options to a reverse mortgage; miss these and you could make mistake you’ll never recover from… page 23.

Don’t even consider listening to a reverse mortgage pitch until you’ve had a chance to read through The Reverse Mortgage Guide.

The article Reverse Mortgages 101 was originally published at millersmoney.com.

Things That Make You Go Hmmm: Crimea River

Things That Make You Go Hmmm: Crimea River

By Grant Williams  |  February 17, 2013

 (Marina Lewycka): Public clashes between Ukrainians and Russians in the main square in Sevastopol. Ukrainians protesting at Russian interference; Crimean Russians demanding the return of Sevastopol to Russia, and that parliament recognise Russian as the state language. Ukrainian deputies barred from the government building; a Russian “information centre” opening in Sevastopol. Calls from the Ukrainian ministry of defence for an end to the agreement dividing the Black Sea fleet between the Russian and Ukrainian navies. The move is labelled a political provocation by Russian deputies. The presidium of the Crimean parliament announces a referendum on Crimean independence, and the Russian deputy says that Russia is ready to supervise it. A leader of the Russian Society of Crimea threatens armed mutiny and the establishment of a Russian administration in Sevastopol. A Russian navy chief accuses Ukraine of converting some of his Black Sea fleet, and conducting armed assault on his personnel. He threatens to place the fleet on alert. The conflict escalates into terrorism, arson attacks and murder.

Sound familiar? All this happened in 1993, and it has been happening, in some form or other, since at least the 14th century.

So begins an article in the UK Guardian this week, written by a British novelist of Ukrainian origin, Marina Lewycka; and amidst all the furore surrounding the events in Ukraine these past couple of weeks, it’s important to gain a little perspective in order to understand the history surrounding the country’s fractious relationship with Russia and its recent dalliance with European suitors.

Source: Wikipedia

The key to the stand-off over Ukraine is the Crimean Peninsula — no stranger to conflict over the years and home to the infamous “Valley of Death” into which rode the 600 whom Tennyson commemorated in his epic poem recounting the ill-fated Charge of the Light Brigade. The order that sent those gallant young men to their inevitable doom is symptomatic of the kinds of catastrophic misjudgements that get made when emotions are running high.

At 10:45 a.m. on October 25th, 1854, the following order, signed by the Quartermaster General Richard Airey, was delivered to Field Marshall, Lord Lucan (no, not him. HE was the 7th Earl of Lucan. THIS was the 3rd Earl — his great, great grandfather):

Lord Raglan wishes the cavalry to advance rapidly to the front — follow the enemy and try to prevent the enemy carrying away the guns — Troop Horse Artillery may accompany — French cavalry is on your left. R Airey. Immediate.

The vagueness of Raglan’s order confused Lucan, as it made no mention of which guns the Light Brigade were being ordered to keep from leaving the battlefield; but when he questioned the order, Captain Louis Nolan of the 15th The King’s Hussars damned his impudence:

“Attack, sir!”
”Attack what? What guns, sir?”
”There, my Lord, is your enemy!” said Nolan indignantly, vaguely waving his arm eastwards. “There are your guns!”

And with that, not daring to challenge a direct order further, Lucan ordered the Earl of Cardigan to lead the 600 men of the 13th Light Dragoons, the 17th Lancers, the 11th Hussars, the 4th Light Dragoons, and the 8th Hussars into the teeth of the Russian battery two kilometres distant, with further guns flanking their advance on either side….

Cannon to right of them,

Cannon to left of them,

Cannon in front of them

Volley’d and thunder’d;

Storm’d at with shot and shell,

Boldly they rode and well,

Into the jaws of Death,

Into the mouth of Hell

Rode the six hundred.

The result of one of the most famous military blunders of all time, the destruction of the Light Brigade at the Battle of Balaclava, demonstrated the dangers of military miscalculation in the Crimea; and 160 years later the possibility of another such misjudgment on the part of a commander looms heavily over the region.

However, rather than tracing every twist and turn in the Crimea between 1854 and today, we shall focus on the more recent history of the isolated and vulnerable peninsula that juts out into the Black Sea from Ukraine’s southern coastline; and, with a little help from the NY Times, we’ll begin with a look at how things stood after the first week of the crisis….

Click here to continue reading this article from Things That Make You Go Hmmm… – a free weekly newsletter by Grant Williams, a highly respected financial expert and current portfolio and strategy advisor at Vulpes Investment Management in Singapore.

The article Things That Make You Go Hmmm: Crimea River was originally published at mauldineconomics.com.

BLS LIES REVEALED IN A FEW CHARTS

The Bureau of Lies and Shams issued their latest Orwellian data report this morning. They declared that inflation was only up .1% in February, despite the massive jump in food prices. Here is the MSM regurgitation of the BLS bullshit propaganda. A real journalist might verify the numbers to see if they pass the smell test.

Consumer prices edge up in February as food prices jump

Last month’s 0.1% increase driven by biggest spike in food costs since 2011

WASHINGTON (MarketWatch) — Consumer prices in the U.S. rose slightly in February because of higher food and housing costs, but overall inflation remained quiet, according to the latest government figures. The price of food jumped 0.4% — the largest gain since September 2011 — because of higher costs of meat, poultry, fish and vegetables. Still, food prices have only risen 1.4% over the past year.The cost of energy fell 0.5% as lower gasoline costs offset increases in fuel oil and natural gas. High demand for home heating fuels boosted prides during a very cold month.

The drones at the BLS declare that energy prices plummeted in February due to lower gasoline costs. Let’s look at a handy dandy chart of the actual price of gasoline over the last three months. Well looky here. The average price of a gallon of gasoline on February 1 was $3.26 per gallon. The average price of a gallon of gasoline on February 28 was $3.45 per gallon. And the trend was straight up during the entire month. My handy dandy calculator says that gasoline ROSE by 5.8% in February. The BLS says gasoline prices fell dramatically. Do you believe the BLS drones or your pocketbook? How can they get away with these blatant lies? Oil rose from $97 per barrel to $102 per barrel. That is a 5.1% increase. Natural gas prices spiked from $5 to over $6 during February before settling back around $5. The average price was easily up 10% over the prior month. How stupid do our government keepers think we are?

Even the BLS contention that food prices went up .4% in February is a lie. That is a 4.8% annualized rate. Let’s see the reality. Pork is up 43% since the beginning of the year. Beef is up 8%. Coffee is up 75%. Corn is up 13%. Wheat is up 12%. Soybeans are up 8%. Cocoa is up 12%.

These are the price changes in the real world, not in the BLS world of manipulation and deception.

The CPI is a fake number issued by the STATE and designed to keep the sheep docile and compliant. In reality true inflation is running above 5%. You know it and I know it. Will the faux journalists in the MSM report the truth? Hell no. They are paid to peddle lies and propaganda by their corporate bosses.

 

PORK

BEEF

COFFEE

CORN

WHEAT

SOYBEANS

COCOA

Ron Paul: “If Spying On Senate Is So Bad, Why Is It OK For Them To Spy On Us?”

Submitted by Ron Paul of The Ron Paul Institute,

The reaction of Sen. Dianne Feinstein (D-CA) to last week’s revelations that the CIA secretly searched Senate Intelligence Committee computers reveals much about what the elites in government think about the rest of us. “Spy on thee, but not on me!”

The hypocrisy of Sen. Feinstein is astounding. She is the biggest backer of the NSA spying on the rest of us, but when the tables are turned and her staff is the target she becomes irate. But there is more to it than that. There is an attitude in Washington that the laws Congress passes do not apply to Members. They can trample our civil liberties, they believe, but it should never affect their own freedom.

Remember that much of this started when politicians rushed to past the PATRIOT Act after 9/11. Those of us who warned that such new powers granted to the state would be used against us someday were criticized as alarmist and worse. The violations happened just as we warned, but when political leaders discovered the breach of our civil liberties they did nothing about it. It was not until whistleblowers like Edward Snowden and others informed us of the abuses that the “debate” over surveillance that President Obama claimed to welcome could even begin to take place! Left to politicians like Dianne Feinstein, Mike Rogers, and President Obama, we would never have that debate because we would not know.

Washington does not care about our privacy. When serious violations are discovered they most often rush to protect the status quo instead of defending the Constitution. Senator Feinstein did just that as the NSA spying revelations began to create pressure on the Intelligence Community. Her NSA reform legislation was nothing but a smokescreen: under the guise of “reform” it would have codified in law the violations already taking place. When that fact became too obvious to deny, the Senate was forced to let the legislation die in the committee.

What is interesting, and buried in the accusations and denials, is that the alleged CIA monitoring was over an expected 6,000 page Senate Intelligence Committee report on the shameful and un-American recent CIA history of torture at the “gulag archipelago” of secret prisons it set up across the world after the attacks of 9/11. We can understand why the CIA might have been afraid of that information getting out.

When CIA whistleblower John Kiriakou exposed the CIA’s role in torturing prisoners he was sent to prison for nearly three years. But Senator Feinstein and her colleagues didn’t lift a finger to support him. So again you have the double standards and hypocrisy.

The essence of this problem has to do with the difficulty in managing the US empire. When the government behaves as an empire rather than as a republic, lying to the rest of us is permissible. They spy on everybody because they don’t trust anybody. The answer is obvious: rein in the CIA; remove its authority to conduct these kinds of covert actions. Rein in government. Lawmakers should not defend Fourth Amendment rights only when their staffs have been violated. They should do it all the time for all of us. The people’s branch of government must stand up for the people. Let’s hope that Sen. Feinstein has had her wake-up call and will now finally start defending the rest of us against a government that increasingly sees us as the enemy.

Soon, Everyone Will Be Wearing This

A friend of mine was on the bus with his young granddaughter yesterday. A woman was on the bus wearing a burka. The granddaughter tugged at my friend’s arm, and asked him what that was about. My friend told her it is what some women from Muslim backgrounds wear, and explained a bit about it. When he was done, the woman lent across the aisle and said this to his granddaughter:

“Soon, everyone will be wearing this”.

This is a true story, no bullshit. Make of it what you will.

3 x 4 = 11

Moral relativism strikes again, or in the case, math relativism….common core insanity…..We’re doomed

Quick: what’s 3 x 4?

If you said 11 — or, hell, if you said 7, pi, or infinity squared — that’s just fine under the Common Core, the new national curriculum that the Obama administration will impose on American public school students this fall.

In a pretty amazing YouTube video, Amanda August, a curriculum coordinator in a suburb of Chicago called Grayslake, explains that getting the right answer in math just doesn’t matter as long as kids can explain the necessarily faulty reasoning they used to get to that wrong answer.

“Even if they said, ’3 x 4 was 11,’ if they were able to explain their reasoning and explain how they came up with their answer really in, umm, words and oral explanation, and they showed it in the picture but they just got the final number wrong, we’re really more focused on the how,” August says in the video.

When someone in the audience (presumably a parent, but it’s not certain) asks if teachers will be, you know, correcting students who don’t know rudimentary arithmetic instantly, August makes another meandering, longwinded statement.

“We want our students to compute correctly but the emphasis is really moving more towards the explanation, and the how, and the why, and ‘can I really talk through the procedures that I went through to get this answer,’” August details. “And not just knowing that it’s 12, but why is it 12? How do I know that?”