Fred the Economics Cat
Hey guys, What’s up? I know what’s down.
If you guys own stocks you probably had a bad hit this past week. Okay, so you are worth less financially than you were. Now as a result of bad loans in the past, mortgage loans are more difficult to obtain. Around here there are lots of new houses for sale and they have been on the market a long time. There are also a lot of pre-owned houses in the same shape. So how are these homes ever going to move when people have less money and mortgages are more difficult to get?
Meanwhile, foreclosures are up everywhere. Where are those people who lost their homes going to live? Their credit is ruined for a long time so they aren’t going to be getting a mortgage and buying a home anytime soon. Dudes, you guys are in a heck of a mess.
On a personal note, this weekend Murphy and I are going for a sleepover at the vet’s. I’m also going to get some shots (no, not tequila shots, the kind that come in a needle) I also heard that I’m going to get chipped.
You guys have a great weekend. Not too sure how mine is going to go. Wish me luck!
Sincerely,
Fred the Cat (the cat who loves you guys)
posted by pissed off patricia at 12:58 AM
32 Comments:
we love Fred too....
it used to be any bank would give Fred a mortgage.....now Bill Gates can't get one......
luck and love
Doesn't look like Fred has moved much in the last week. Must be hot!
Yeah, my retirement fund is washing away like sand.
Fred,
Chipped! Good god almighty, I would know you anywhere. Oh well, I guess not everybody would know you. Listen, just relax and don't worry about those financial things right now. You have chipping to think about.
Fred continue to focus on the faltering Bush economy and stay away from those visits to the Vet.
The Vet is not your friend!
Fred, for a long time, my boyfriend and I wondered who could afford to buy these overpriced shacks (median price around $500,000) in San Diego. What millionaire would want to live in a two-bedroom, 900 square-foot house in a gang-infested neighborhood? Well, the answer turns out to be, these houses were being bought by middle-class working folks who took out adjustable rate mortgages. San Diego now has one of the highest foreclosure rates in the country. There are some mighty desperate condo developers around here who are almost willing to give away units, but the selling price is still too outrageous for most folks to afford, esp. now that the easy money loans have dried up.
Apartment rents are now skyrocketing again as people are losing their homes and returning to the rental market. Our rent went up $55 this year.
Fred, our enlightened federal government will come to the rescue of ailing banks long before they'd ever help an individual facing a foreclosure. We always help the rich stay rich. It's the new Gilded Age.
Hope your vet visit goes well.
Oh Fred- you will know have a chip on your shoulder, but in a totally good way!
Be a good kitty and Booboo the Cat and I will send you our every good thought.
As for the mortgage woes... I have a house for sale. Well so much for that. I can't even think about it any more. It is actually a reasonably priced house, but would probably be attractive to someone who can no longer get a mortgage.
This is some bad shit.
Re the comment above about San Diego. I remember hearing a story on NPR a year, two years ago about not just the ARM's there but also the no money down and interest only mortgages that were flowing like oil money into Cheney's pockets. No one at that time seemed to think this could happen.
I felt nauseous then. I feel more nauseous now.
take care fred...have a good weekend..
Fred don't worry about the economy, that's what we have Fuhrer for remember? LOL.......
Have a good week-end Fred!!!!!
I've been paying rent ever since I moved out of my parents' home. I hate to sound selfish, but if all these foreclosures drive people into the rental market, I wonder if this will drive the rental rates down a little? Mine went up $40 in May, plus I'm paying for water and trash removal when those used to be included in my monthly rent. I'm glad I never bought a house, if this is the bullshit I would have been buried in.
Oh, and needles suck, Fred. Best of luck for you and Murphy...
Aww, Fred! Hang in there. Trips to the vet can be fun. My Boris loves to go. :)
Yes, the economy is dire and the recent sell-off is a sign of what is to come. I hate to think of how much I lost. Thank heavens that Chimpy & Co will have blown up the world before I have to retire, so I probably don't have to worry too much.
I just love your cat, Fred. I had a black and white that I adored, but eventually had to give him to my daughter to keep because of my allergies. It was a sad day for me to pack up his toys and send him on.
btw, POP, I left something for you on my blog. Check it out if you have time.
Fred, you speak profound words that cut to the bone!
I'm very concerned about this situation, as my wife and I are supposed to be buying new construction in the very near future.
My credit good, my wife's is excellent. I just wonder how this will play out!
Good luck with the chip, Rocco and Chloe each have one and they are glad they do!
I have a house I have been trying to sell for almost a year, and absolutely nothing has happened with it. I feel bad for the people who are losing everything. And I do agree that the administration will take care of the banks and let the people twisting in the wind. I think we are all twisting in the wind till the political winds blow differently.
Personally, I don't find I'm too troubled by the stock or housing markets. I'm in the stock market for the long haul, and my housing situation is pretty stable right now.
But the huge increases in the prices of staple goods? Yep. That worries me.
Fred, I'm appointing you to the office of Economic Stabilizer and pet chipping. You'll straighten them out.
Fred,
Let me tell ya, I'm a diversified investor.... which means I've lost money ALL the way around. I'm just glad my uncle is the CEO of Exxon.
Probably.
Good luck Fred!
The housing situation will get a lot worse as will the stock market in the end. Their intervention was only a temporary fix. Reality will hit again.
Well I've got a house on the market and I find it pretty disturbing.
I'm not going to end up homeless (unless the more of the economy tanks), but I'll be ahead of the rest, I'll be out the home I'm selling and the one I bought.
Nobody's even looking at buying homes right now, I can tell you from my experience - because of the screwed up banking/credit.
I knew buying this new house was a bad idea back when Bush did his little "ownership society" talk, but you try and live in spite of the idiots in D.C.
My stocks are down a good amount and they don't earn me an income they are a "savings" device - and yes at the current time I'm out a lot - but the future is not here today, so I can ride those out, if they can - ever see a stock go to 0? It hurts like hell if you're holding it. Thank my predicessors for social security - it's in the black and will stay there.
The wealthy can still afford houses. That's all that matters.
Getting chipped is no big deal. My owner's had me chipped for years now. I don't even notice it.
Fred,
I had a conversation about this last year with the wife. I told her that the real estate market is going to tank as it did in the late 80s. It helped us buy our house in 1995 and we're still in it paying a dirt cheap mortgage -- on LI no less.
Take it from Freddy...don't worry about the chipping and injections. It was inevitable. However, if you and Murph ever go looking for a place to live, remember that houses are for living in and that speculators are selfish pricks.
fred, my friend, i too have been wondering about things. the minstrel talked a lot of long stuff about how he was simplifying and cutting down, but we haven't seen his sanctimonious butt here in the barn for almost two months now. what's up with that? he mutters things about cash flow and market pressures but all i see is a disappearing act.
minstrel did the chip thing with his dogs, his horses have the tattoo lippie deal. he leaves my brood alone. every now and then he and the horse doc will give shots to as many of us as they can catch but we don't make it easy. that's not our job.
mices that's our job. and we are flat doin' it to 'em.
boudica, warrior queen of minstrel's barn.
Yes, it was one heckuva week for Wall Street!
Foreclosures are the highest they have been in 40 years!
Hey, Fred, is that a symbolic photo? Are we supposed to read something into that?? Like...
"The economics of the day (be it Friday or any other day) have been turned on it's ear."
Sorry, couldn't resist!
I rent and my landlord bought this place about 4 years ago. They have raised my rent all 4 years with this one being 20 dollars a month.
Soon those who rent and are in the working class will not be able to even keep a roof over their heads. And the worse of it is if your a single parent or just single.
As to the market I believe it will collapse as it did in 1929, only this time the economy won't recover as it did then.
Der Fuhrer has destroyed our country worse than his surrogate father Adolph Hitler did to Germany and the people still don't get it.
And now he can totally spy on anyone with the approval of those who are suppose too represent us.
We no longer have a Democracy even if you believe we do. I pray for all of us and hope the Lord hears mine and others prayers for His help.
God Bless.
I wonder why builders insist on building when there are so many houses on the market. I guess people flock to the new houses, and the old sit vacant, making homes for rats.
Fred the cat, you've reminded me of another cat, or perhaps the other cat reminded me of you. I posted his picture at my blog for FCB. I think it's the coloration, but also the thickness of your furs. Beautiful!
This stock market is out of control and the Fed propping it up will only delay the eventual disaster.
Fred, hang in there, the chip will just make sure you'll always get returned if you get lost! Good luck at the vet's!
My dogs were chipped when they were puppies. It's no big deal, Fred.
The economy has never been of much interest to me. Don't know why. A blessing, I guess . . .
The suffering of my fellow men, on the other hand, concerns me, and I know that the economic policies of our Republican overlords has something to do with it . . .
Time to go out on the back porch and do a round of tai chi, breath in some fresh air, and commune with the forest . . .
Always keeps me from freaking out, which I feel like doing whenever I overload on injustice . . .
I tell you this stock market thing is crazy. I am watching it closely
fred - why worry abt the stock market when you can get on with your new lif as a chippie! (i know, i know..that was baaaaad)
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