Foreclosure sales, everything goes, New Year's Day 01-01-2013

[drwayne]

In a letter to the top Democrat in Congress, Geithner said the treasury will shortly begin taking extraordinary measures to "temporarily postpone the date that the United States would otherwise default on its legal obligations".

Geithner said in the letter that the department will take several accounting measures to save approximately $US200 billion beginning next year.

The government borrows about $US100 billion a month, so that would keep the government from reaching the limit for two months.

Geithner said it was harder to predict how long the delay would last because ongoing negotiations over tax and budget policies make it hard to forecast what tax revenue and government spending will be next year.

The debt limit is the amount the government can borrow to help finance its operations.

[ray schrauwen]

I've heard rumblings of a default by Feb 14/2012. Did you see what the last 120 Billion injection did to the price of gold & Silver? Good time to buy if you can.

By March you will see some extrordinary events to make Chile & Fukishima look silly... It has been said by some. Major earth quakes have hit in the early part of March every year in the last 3 or 4.

[sjslhill]

I'm so sad for Obama

Darn it, the mean ole Republicans won't give him any more money to spend......

[Basstronics]

I heard from a Realtor that after the first of the year some stop sales orders lift and there is approximately 1million houses in foreclosure to flood the market.

Im getting me a nice big 1911 to keep the family and boats safe.

[ray schrauwen]

WHOAAAAAA.....

I heard from a Realtor that after the first of the year some stop sales orders lift and there is approximately 1million houses in foreclosure to flood the market.

Im getting me a nice big 1911 to keep the family and boats safe.

[Basstronics]

I guess at some point they (Government) made it so people in Foreclosure couldnt be kicked out for a period of time. Now that stuff is gone, the houses should be flooding the market.

Again its hear say. True or not? I dont know.

[drwayne]

Foreclose on 'millions' would start the death bells on US economy, welcome recession 2013->

Despite all the poo-poo flung at Obama, he is stoically attempting to bail your sinking ship.
The latest in a long line of captains, he took on an already leaky boat !!
The wealthier citizens, prepared in lifeboats surrounded by their valued possessions, are now ordered to man the bailing buckets, the weary ship's crew now handed a temporary reprieve .. an ability to climb out of the bilge to get fresh air.
No matter how you look at the US, it's an upper deck, lower deck economy ... now diseased by scurvy.


I promise my c2020 daily wage of 150Yuan on a movie ticket to see this epic 3D tale, when released....

I guess at some point they (Government) made it so people in Foreclosure couldnt be kicked out for a period of time. Now that stuff is gone, the houses should be flooding the market.

Again its hear say. True or not? I dont know.

[obrien]

The economy has been steadily getting worse under obama and the spend and tax liberals. Its funny how he continued saying in his campaign that only the wealthy would see a tax increase. Well everyone is getting a tax increase. Instead of doing something about the wasteful spending by our government they are going to keep taxing us and forcing us into this bull*!***!***!***!** socialized health care. I still have yet to see useless do anything worth a damn since he took office, but I am not sure what else to expect since he didn't do anything to earn his way into office either.

[drwayne]

Not only in US are tax rates taking a hike.....
Depardieu is to Europe as BruceWillis is to USA

French actor Depardieu becomes Russian citizen to avoid France's 75% tax on millionaires !
AFP
6:28am January 4, 2013

Russian President Vladimir Putin has granted citizenship to Gerard Depardieu after the disgruntled French movie star said he was quitting his homeland to avoid paying a new millionaires' tax.

The decision appears to give Depardieu - a frequent guest of the Moscow celebrity circuit who nonetheless never asked for nationality - the right to pay the 13 percent tax levied in Russia on everyone from tycoons to the poor.

"Vladimir Putin has signed a decree granting Russian citizenship to France's Gerard Depardieu," the Kremlin said in a statement.

Kremlin spokesman Dmitry Peskov said Depardieu was being rewarded "for his contribution to Russian culture and cinema."

But the announcement looked more like a jab at the West by Putin - keen to show off Russia's more business-friendly approach to taxes - than an actual effort to lure one of the world's biggest celebrities to Moscow.

French government spokeswoman Najat Vallaud-Belkacem said the decision was the "exclusive prerogative of the Russian head of state" and did not merit further comment.

Depardieu said on Sunday that a move by France's Constitutional Council to strike down the proposed 75 percent tax rate for millionaires changed nothing in his much debated decision to move out of France.

The French Socialist government has vowed to push ahead with the tax - applicable to anyone who makes more than one million euros ($1.3 million) a year - and propose a new measure that would conform with the constitution.

Putin at his end-of-year press conference in December surprised many by saying he was ready to offer the 64-year-old cinema veteran a Russian passport to resolve the row.

"If Gerard really wants to have a residency permit in Russia or a Russian passport, we can consider this issue resolved positively," Putin said at the time.

Putin added that the French premier's famous remark about Depardieu being "pathetic" for threatening to leave the country had hurt the star's feelings and may eventually force him to move.

"An artist is easy to offend," Putin remarked.

Depardieu had mentioned moving to Belgium - home of a 50 percent millionaires' tax - and has purchased a new home there near the French border for the specific purpose of avoiding the higher French rate.

A senior Belgian official said Thursday that if the star pursued his stated intention to obtain Belgian nationality, that bid could be affected by him taking Russian nationality.

"He would have to tell us clearly what his projects are, if he intends residing and developing his activities in our country," said Georges Dallemagne, head of the Belgian committee that oversees naturalisations.

The hulking actor has been a huge star in Russia since the Soviet era and still enjoys cult status among many movie buffs.

France was seen by the USSR as one of Europe's friendlier countries with natural socialist leanings - a status that made its movies a staple of Soviet silver screens.

Depardieu has since grown into a frequent jury member of the glitzy Moscow and Sochi film festivals.

His straw hair and rugged features have even featured in local television advertisements ranging from kitchen furniture from the central city of Saratov to a brand of ketchup called Baltimore.

And a picture of a smiling Depardieu giving the thumbs up sign still graces the home page of a small Russian bank called Sovetsky (The Soviet).

The charismatic Frenchman was most recently granted the honour of being personally asked to emigrate to Russia by the iron-fisted leader of Chechnya, the scene of two post-Soviet wars that killed tens of thousands.

"I can say for sure that we are ready to welcome the great artist," Chechen leader Ramzan Kadyrov said a day before Putin's first remarks on the subject.

Depardieu this year made a peculiar visit to Chechnya to attend the birthday of Kadyrov, a ruler accused of torture and other violent crimes by international rights groups.

A video of that celebration showed Depardieu at one stage shouting in Russian: "Glory to Grozny! Glory to Chechnya! Glory to Kadyrov!"

Depardieu will qualify for the 13 percent tax rate if he spends at least six months out of the year in Russia.

The annual tax rate will go up to 30 percent on all income made locally and in other countries if he spends more than half the year abroad.

"People in the West do not know the details of our tax system," senior cabinet member Dmitry Rogozin tweeted on Thursday.

"But when they find out, we should expect a mass migration of rich European to Russia," Rogozin said.

[96XP]

Published on Jan 3, 2013

A prominent economist tells Press TV that the United States so-called fiscal cliff is more like a 'bottomless pit of debt' that the country is diving into. He also added that the United States risks collapsing of dollar in 2013. US President Barack Obama has signed into law a bill backed by the Senate that averted the so-called fiscal cliff, the White House says. Obama signed the 'American Taxpayer Relief Act of 2012' on Wednesday, the White House said in a statement. On January 1, the House of Representatives voted 257 to 167, approving the bill, which consists of raising taxes on the wealthiest Americans, while exempting others who earn less than $450,000 a year. It will also put off 109 billion dollars in budget cuts for two months.

To further discuss the issue, Press TV's News Analysis program has conducted an interview with Max Keiser, a journalist and broadcaster in London, Eric Draitser, founder of stopimperialism.com in New York, and Rollin Amore who is an economist and political commentator in Washington.


vid:
http://www.youtube.com/watch?feature...v=thx47NcPRPM#!


~~~~~~~~~~~~~~~~~~~~~~~

Published on Dec 16, 2012

Oct. 1, 2012 | Day 1 | AmerCatalyst 2012 | The Engtanglement : Session 1.2 | The World is Not Enough: Keynote presentation by J. Kyle Bass

In his fourth appearance at AmeriCatalyst, J. Kyle Bass, founder and principle of Hayman Capital Management, takes the stage with a compelling keynote address offering candid views on the state of crippled sovereigns and the global economy, the state of the U.S. economy and sovereign debt, the bottom of the U.S. housing market, and his favored investment opportunities today.

He is introduced on stage very quickly by AmeriCatalyst founder and CEO Toni Moss, the host of the show and architect of its program.

vid:

http://www.youtube.com/watch?feature=player_embedded&v=JUc8-GUC1hY

[ray schrauwen]

Ryan has a degree in economics and teaches in Japan

He has a pretty good perspective of the real money picture...

[96XP]

It's like this,

http://www.youtube.com/watch?annotation_id=annotation_490285&feature=iv&src_vid=P4Nxa3QrSNw&v=HP7L8bw5QF4

[ray schrauwen]

Yep, I've been subbed too him for some time. Ryan ties everything to the messy MIC. He is able to make some sense of things around the middle east but, he has made some blunders over the years.

[96XP]

[drwayne]

Ryan has a degree in economics and teaches in Japan
He has a pretty good perspective of the real money picture...


[video=youtube;7zQkjXj5DX8]]

Has a degree in economics? ....... deliberate rubbery understanding the applicable math ... statistics supported by random data is a fool's game.

Teaches economics in Japan ? . Smart man. It's good to live within swimming distance the world's largest economy.