Jeremy Johnson

Recent Activity

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  Jeremy commented on the article | about 2 years ago

  It's Official: EPA Says Greenhouse Gas Emissions Are Harmful

  Hey. I have a great idea. Lets turn carbon into a commodity and create exchanges that can be manipulated by the likes of Goldman Sachs and J.P. Morgan. Then we scare people into thinking that if we don't force business to purchase carbon credit derivatives from Wall Street investment firms the planet will heat up and we're all going to die. It's like something out of a really bad Disney movie. It would be comical if it were not true.

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  Jeremy commented on the article | about 2 years ago

  The Audacity of Home

  No more housing programs please. Fannie and Freddie already helped create the largest housing bubble in US history. The goal was to make housing more affordable but instead prices rose faster than ever before in the history of the United States. It was a total failure.

  
  

  It doesn't make any sense that you couldn't give away a house. That nobody would take it for free. Even if it was true that they can't give em away in Detroit (I think it's complete BS) there wouldn't even be a need for a housing program because there are free ones lying around. Why lease a house when somebody is giving them away? Detroit also has 50% unemployment, they sure ran that city into the toilet.

  
  

  The truth is that the banks don't want to unload the properties because they would have to write down the losses. Most of the major banks in the country are insolvent. The government changed the accounting rules so banks could pretend that their assets are worth more than they actually are. Then they record record profits from what would amount to accounting fraud a year ago and pay themselves huge bonuses. The banking system is completely corrupt and they make up the rules as they go along. Obama is perusing the Bush agenda, Change is a cliche campaign slogan. I'm glad people like Jon Stewart on the left are waking up to some of this nonsense.

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  Jeremy commented on the article | about 2 years ago

  Is Medicare Bankrupt?

  These programs can't be "saved" unless you think monetizing 70 trillion dollars worth of unfunded liabilities is a solution. These projections are based on the false assumption that interest rates won't rise and the cost of servicing ever ballooning U.S. government debt won't cut into tax revenues significantly. There have been studies that show servicing debt will consume 30% of tax revenue in 10 years. Right now over 350 billion dollars goes toward making interest payments on the debt. Currently the FED has interest rates at 0% - 0.25% and banks are handed out phantom dollars that are conjured into existence by the central bank. They turn around and buy government treasuries and make money off YOUR tax dollars because of the spread. I guess if you want to make money for free you have to get an account with Federal Reserve and be part of the old boys network.

  
  

  "The U.S. government will default on it's debt or enter hyperinflation" -Marc Faber

  
  

  I'll take Marc Faber and the other side can have Paul Krugman who was an advocate of creating the housing bubble and bailing out guys that drive Lamborghini's on Wall Street.