Wednesday, October 8, 2008

plain English.....

I have added the link to Morgan's KSON Blog to the right side of the page, just below my "profile", and her picture. She has updated today, and expects to be updating daily for a while. Because it is within the station's website, it is not part of any "feed" that let's you know automatically when it is updated.

Thanks for the responses to my last post concerning the bailout and stock market. It was pretty raw and basic, but I think it did the job. Actually, if you go to Morgan's page in the next few days, you might see it, as she asked to "borrow" it.

We had a Presidential debate last night, and I must be in a complete "McCain fog", because I thought it was his best performance in a while, and nobody is saying good things about him. I am not saying he had a clear advantage over Senator Obama last night, but I thought he connected a bit more. Overall, I thought it was pretty even, with the slightest of advantages to Senator McCain.

Now, I will say he surprised me when McCain spoke about the government purchasing existing mortgages and renegotiating them to go with the current assessed value of the house they are attached to. As a fiscal Conservative, my head almost popped off when he said it. There are actually provisions for this in the bailout/rescue plan, so as the money will be spent, I don't have as much of a problem (still have a problem, but there is no way in heck that the government, knowing it has money to spend, is not going to spend it) with it going directly to help people, as compared to it going directly to big firms.

If done correctly, and the people who stopped paying their mortgages were to restart paying them at the new terms, this would help get money into the system, plus keep houses off the foreclosure market, where they usually knock down the property values around them, and give people another start (again, not my ideal solution, but I am working with the cards dealt on the table).

***Just a quick example is someone with a $300K mortgage that has now "reset" at 7% for 30 years. That payment is $2000 a month. If the house is worth $250K (in many cases I would bet it would be lower), and the government interest rate is 6%, that new payment is $1500 a month. A $6000 a year savings.***

Hockey season starts up tomorrow night. The NHL started this weekend in Prague (Rangers and Lightening) and Stockholm (Penguins and Senators), but it is almost like they didn't count if they don't happen on "NHL soil". It looks like another tough year for my Hurricanes, especially with injuries hitting them before the first puck is dropped, but I'm keeping the faith.

We don't plan on purchasing season tickets like the prior years when we return, but if we are back, they actually play a home game on my birthday (March 21st, for those needing to mark their calendars :-) ), so I know I would be attending at least one game this season.

I had mentioned in prior posts that the Canes are here in Los Angeles and Anaheim on October 17th and 19th, and we would look at attending the games. Well, I went to purchase tickets, and let's just say the prices are quite a bit higher here on the west coast, so we will be watching on television.

Had another nice Bible class on Monday. The class is really a "Bible history" class, in that we are getting a little background about each of the different books of the Bible. This little bit of background these past few weeks has really helped me in understanding a little better what I have been reading.

Tomorrow night is the couples' class that Morgan and I have been attending, and I still need to do my reading, so that's it for now.

- Another Nintendo DS coming.
- I am sure Giselle is taking care of him.
- October baseball. Dodgers vs. Red Sox in series?

Until the next time.....

4 comments:

Kellie said...

I am so glad to hear about your Bible classes. They sound great! I am also tickled you are learning the history behind them... that is so important. :)

Chris said...

I guess I'm still not sure why Joe Idiot who bought more house than he could ever hope to afford gets to renegotiate his mortgage (lowering it by as much as 17% in your example) and I'm stuck paying mine because I was smart and bought what I could afford at a reasonable fixed rate. Foreclose on them and send them back to the real world.

I guess the fact that McCain is now saying it as well just reinforces my decision not to vote for either of these tools. Conservative, my foot. He's doing a heck of a job reminding me of why I (and most other conservatives) were opposed to his nomination in 2000 and voted for Bush (not that that's worked out so well). This country is so screwed. No matter who wins, we lose.

Sal Cartusciello said...

Chris - you are correct about the housing. This is not the way it is supposed to work.

But as I said, the cards have now been dealt, and there is no way of getting the $700 billion back in the bottle, so if there is a way to directly help people and the system, I am more for that than just giving it to "Wall St.".

Morgan said...

oh my gosh, Chris---

"I guess I'm still not sure why Joe Idiot who bought more house than he could ever hope to afford gets to renegotiate his mortgage (lowering it by as much as 17% in your example) and I'm stuck paying mine because I was smart and bought what I could afford at a reasonable fixed rate. Foreclose on them and send them back to the real world."

BRILLIANTLY SAID!!!!!!!