We get to take it easy this morning because there is a Case Shiller Housing report due out shortly,, so check back for that at 8:15 Central.
The ‘National Idiot Festival’ is well described by The Hill’s “Press: Democrats form circular firing squad.” That’s not the national press – they’re for anyone but Trump. No, this was from opinion writer Bill Press. Still, it’s a circle and hours till more shooting.
Student Loan Debt To Remain
‘Free Lunch’ is surely one of the topics which will be covered by the firing-squad ahead. But while both BS (Bernie Sanders) and JokeWhoHauntsUs are trying to out-promise the mentally impaired that which they can’t deliver, we are forced to remind people of this little snag in the socialist agenda.
You see, the government doesn’t ‘own’ most student loans. When the loans are issued, they are bundled – just like the sub-primes brought down the Housing Bubble – and sold off.
For those wishing to actually know something, I would recommend that a good ‘short course’ would be Investopedia’s article “Student Loan Asset-Backed Securities: Safe or Subprime?”
Who buys Student Loan Asset-backed Securities (SLABS)? It’s likely the hedge funds, retirement funds, and the braver people who think that like housing, there will be continuing payments.
When anyone says they are going to “cancel student loan debts” remember that the money doesn’t just go “Poof!” It could blow a hole in your retirement or certainly reduce the yield on select holdings.
What the insincere lefties aren’t telling anyone is that student loan backed assets will have to be handled just like any ‘bond.’ They will have to be ‘called’ and that’s where the contract law issues arise.
Not only could a student loan “cancellation” cost the face value of the remaining debt, but it would be virtually certain to land in courts, all the while people would likely start spending before any final resolution appears.
When, as a sensible judge would likely find, it becomes apparent this is just another attempt to bankrupt America, we could have a Housing-Bubble-sized collapse, as we figure it.
It is abysmal and pathetic that people pretending to the highest office in the land do not understand the first thing when comes to securitization of SLABS. If you’re young or are the proud owner of a student loan, best not to get too jacked-up on prospects for a debt-free life, just yet.
We call it what it is: Lefty bullshit that will move debt from one pocket where it is (SLABS) and move it directly to the other pocket. At the end of the day, we still have a egregiously inefficent education delivery system, run by a higher education lobby that turns out me-too’ers (like the climateer’s) and loads ’em down with debt while building tenured professor debt that is no longer supportable.
Now, if only we could find a democrat who understands finance and won’t bullshit people about ‘free lunch’ – why,, wouldn’t that be grand?
Where’s Howard Schultz when the dems need more than another schemer; someone who actually understands money?
Remember the Maine II?
Too early to be firing neurons, is it? Wikipedia to the rescue!
USS Maine (ACR-1) was a United States Navy ship that sank in Havana Harbor in February 1898, contributing to the outbreak of the Spanish–American War in April. American newspapers, engaging in yellow journalism to boost circulation, claimed that the Spanish were responsible for the ship’s destruction. The phrase “Remember the Maine! To hell with Spain!” became a rallying cry for action. Although the Maine explosion was not a direct cause, it served as a catalyst that accelerated the events leading up to the war.
What is going on is not the Maine’s arrival in Havana. Nope. It’s the Admiral Gorshkov – a Russian warship.
The arrival of the Russian warship in Havana Monday has been well-played by the “fifth column socialists” in the American media who have been doing their damnedest to sell the idea that Donald Trump is indecisive and erratic.
Thing is, you and I at the street-level may realize their fix (and how they’re trying to tear down America with open borders and so forth) but the Kremlin may not.
You see, the remnants of the KGB which Vlad Putin once headed are still in business and they assess the mood of America. Not the Outback of Texas or American Heartland mood. No sir; they assess the mood of the big pop-centers where their hand-picked spin-monkeys have been running their attack on Trump from.
Toss in rabid hawks who want war at any price, and it’s not irrational to conceptualize some “accident” befalling the Russian ship in Havana harbor, just as an ‘accident’ befell the Maine while the yellow journos of the time were selling war, writ-large on their front pages.
The cycle length is about right: 121 years might make Havana harbor a two Kondratieff waves long event. If you live long and prosper, avoid that harbor in 2140.
Oh…might the Russians ‘create’ the distraction? Well, hell yes. Each for their own in global power struggles.
MORE Climate Lies
Once again, we see how easy it is to manipulate climate data and thereby delude millions, creating jobs, grants and environmental stupidity all at once.
The latest is over at Real Climate Science under th headline “Tampering Past The Tipping Point” by Tony Heller.
Anyone with a nickel’s worth of cynicism can see it, but here’s the tampering and quick, download the spreadsheet before that data too is tampered with.
As if this isn’t clear enough, try the article “The Earth’s climate is paying for our addiction to plastic.”
Propaganda Lesson: Make a false assumption (climate is paying) and the real data be damned. Few will look. Because everyone just knows that climate change must be real or everyone wouldn’t be falling for it, would they?
The daily dose of Possibly Useful Information includes:
Digital Mob Rule is alive and well as Ravelry, a Popular Knitting Site, Bans Pro-Trump Content.
Meantime, anti-Trumpers will have a hard time with data like this:
“WASHINGTON–(BUSINESS WIRE)–The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for May was $9.1 billion, up 18 percent year-over-year from new business volume in May 2018. Volume was up 3 percent month-to-month from $8.8 billion in April. Year to date, cumulative new business volume was flat compared to 2018.
Which is why climate, racism charges, and everything BUT money will be slung by that circular firing squad.
Say, here’s something tasty: What the Science Really Says About Grilled Meat and Cancer Risk. Damn killjoys.
More when Housing data arrives…