198: Economic Prediction

The "Fed Funds Rate" will not exceed 1% until sometime in 2017.  That means that interest rates on money market funds and other short term accounts for savers will continue to be close to zero.  It also means that mortgage interest rates will continue to be near the lows of my lifetime, and I'm almost 64 years old.  The ocean of money that circles the globe every day will seek historically "reasonable" returns, perhaps something in the range from 5% to 15%, depending on the risk tolerance of that particular segment of the ocean.  This means that bonds, stocks and real estate will all continue to rise.  This trend has been in existence since mid 2009.  It may well continue for another five or ten years.  But it will not always be so.

This super low interest rate environment is seen as normal to the world's consumers who are in their early 30s or younger.  Eventually abnormally low interest rates will cause abnormalities, which in turn will cause economic turmoil and dislocation - in other words a recession or something worse.  Those politicians and government bureaucrats responsible for fostering the environment to create the turmoil will all be doddering and drooling oldsters or dead. 

You can thank Tim Geithner and Ben Bernanke for most of this mess.

197: Home Ownership and FNMA

"According to consumer research conducted by Fannie Mae, the primary barrier to homeownership for first-time home buyers is saving money for the down payment and closing costs."  This is the first sentence on a fact sheet published by FNMA to promote the 97% LTV mortgage.  So if you are too lazy or stupid or undisciplined to save enough money for a down payment, FNMA will help you make the biggest financial commitment of your life, for which you are completely unprepared and unqualified. 

This entire proposition is being backstopped by none other than YOUR FEDERAL TAX DOLLARS. 

196: More Idiots For Obama

Today, BO officially killed the Keystone Pipeline project.  After wimping out for six years, BO now comes out, chest thumping, and flanked by Kerry the House Boy and Biden the Plagiarist, and tells business people who were willing to risk personal fortunes that they cannot hire thousands of workers who would have used their wages to support their families and contribute to the overall economy.  Congratulations BO.  You really know how to drive economic growth.  Hire more government bureaucrats to clog the arteries of American business.

195: Idiots For Obama

I just received my Obamacare notice of premium increase for 2016.  An increase of 41%.  Thank you every one of you Democrat morons who do not know how to support yourselves, or turn down another doughnut or cheeseburger.  Also a shout out to Chief Justice John Benedict Arnold Roberts, who twice had the chance to do something good for his country, but sold out instead.

194: I Was A Chicago Cubs Fan For Two Weeks

I was born in Chicago in 1952.  I have lived in the Chicago area on and off for 49 of my 62 years.  This year, after the Cubs won 97 games in the regular season, I decided to become a fan.  Having observed the Cubs (and Cubs fans) for the previous 63 years, it was clear that both the team and the fans were incorrigible losers.  So when the Cubs beat the Pirates in the one game do or die wild card playoff, I decided to get on the band wagon.  What a glorious 14 days!  The Lovable Losers went on to handle the sturdy Cardinals.  Then REALTY set in.  Losing four straight to the Mets proved the "once a loser, always a loser." Watching the Cubs crumble was truly painful.  How do the fans do it year after decade after century?

The thing of it is, I know many Cubs fans who are really smart.  Investments bankers, medical doctors, and George Will.  Most Cubs fans are smart enough to have never voted for BO.  But they can't shake the inevitable fate of the Cubs.  RIP Cubs and Cubs fans.

193: Respect For the Office of President

I have been a student of history since my earliest memory.  I have collected and read more history books than a lot of history teachers.  I have studied North American history going back before the French and Indian Wars.  I have read countless autobiographies and biographies of American presidents.  I respect the office of the president of The United States, and all of the duties and responsibilities that go with that office.  That is why it gives me such pain to say:  Barack Obama is an arrogant asshole.   If he wasn't black, he never would have been president.  And being black doesn't qualify one for being president any more than being white or green.  He has done perhaps irreparable damage to the U.S. economy and America's standing in the world.

192: Ben Stein For President

Ben Stein wrote an article in The American Spectator recently arguing that rather than take in Syrian refugees, we should address the pitiful state of black Americans.  Ben recites economic, medical and social statistics, and makes an argument that no reasonable American could disagree with.  Mr. Stein's logic and common sense, combined with an obvious solid moral foundation would make him an excellent leader. 

Send me money, and I'll start a Draft Ben Stein petition.