Cramer Has A Meltdown. Pay Attention, Rush.

Posted all over the internet the past week were two clips of Cramer (Mad Money) telling people to 'just walk away' if you couldn't afford the house payment anymore. I think it was dumb advice, especially since he said keep the car payment and credit cards. Wrong, Cramer. Dumber than Rush in this case since you can sell the car and get a beater that is paid for and will get you to work. Credit cards? Only idiots have those. I have to laugh when I see someone paying for a soft drink or cigarettes with a credit card. Dave Ramsey had fun with that on his Thursday show. If you are in debt, then listen to Dave, he might help.

Dow down, housing down. I was amazed that the BLS actually reported a loss of 12K construction jobs. Add double that for the numbers of illegals fired or laid off that didn't get reported. AHM folded along with a ton of other lenders. Mortgage Implode O Meter is keeping up with it on their blog if they don't get shut down from the lawsuit against them. I also recommend reading housingdoom, Dr. Housing Bubble, the housing bubble and crash blog with an attitude problem
one of my favorites. Those are just a few of the blogs chronicling the lies of the NAR, the government and Wall Street. I also highly recommend JohnGaltfla who does some radio, has a blog, and who posts on timebomb2000.com. Things are looking gruesome for the economy. Cramer screams for the Fed (not really federal at all) to lower interest rates. If they do then the dollars already weakened status will get a lot worse. Bonds will also lose value and the US government already is having enough trouble convincing people around the world to buy US debt.

I am constantly amazed at the number of people who didn't realize we had a housing market problem until late spring of this year. I was reading on the above cited blogs about it last fall. It has not really hit western NC yet but it will. Florida's market is already swirling around the bowl which is bad for us here since so many FL folks buy second or third homes in the area. Guess what? If they cannot make money in FL, they won't be buying here. If you are in the Asheville area, take I26 to the airport exit (40). Just across from the airport is Fanning Bridge road. Count the 'for sale' signs. I counted fifteen last time i went through there, not counting the new development still under construction and 'preselling'. Weston Road (runs between Sweeten Creek and Mills Gap) is also a decent neighborhood awash in for sale homes. Too many houses, not enough buyers and sellers unwilling to move on their prices. They still think they are selling in the 06 market. Oh, well, they will make the payments or lose the home.

Now, TNB time.

Live, real time TNB in Detroit. Funny stuff. One negro robbing people on the corner if they don't buy dope from him, multiple shootings, child abuse, and one negro fire bombing his girlfriend's house. Amazing. And I thought that the scanner stayed busy with Asheville traffic! You can listen in here.

Negro rapes 88 year old White cancer patient.
Escalating Black on White violence in Michigan cause for protest this weekend in Kalamazoo.

Plenty more TNB and TMB just not enough time to log it all. I will post more as time allows since the major media won't do it.