Author: The Freedom Watch Staff

This author has written 11091 articles

Housing Up, Home Ownership Down: The Mysterious New Housing Bubble

"If the number of people who actually bought a home and moved in dropped by 175,000, then what we’re seeing is industrial-scale investment by Wall Street speculators who are getting lavish financing perks from the banks to buy distressed properties that, if they had been sold on the MLS or via bank auctions, would have driven prices down even further pushing bank balance sheets deeper into the red. In other words, the Obama administration, the banks, the Fed and the behemoth private equity firms are all in bed together to reward the people who blew up the financial system with another backdoor bailout." Continue reading →

Continue ReadingHousing Up, Home Ownership Down: The Mysterious New Housing Bubble

Older homeowners falling more into foreclosure

"Homeowners more than 50 years old are falling into foreclosure faster than any other age group, particularly widows whose husbands held the mortgage, said the New York Times. Foreclosures among homeowners over 50 increased by 23% over the past five years, resulting in 1.5 million foreclosures. The main reason for the rise in foreclosures is due to women outliving their spouses and not being able to cop with ballooning, medical costs, mortgage and pension cuts. About 6% of loans held by persons over 50 were delinquent in 2011, up from 1% in 2007. One of the problems is older Americans are saving less and borrowing more, said AARP." Continue reading →

Continue ReadingOlder homeowners falling more into foreclosure

California School District Owes $1 Billion On $100 Million Loan

"In 2010, officials at the West Contra Costa School District, just east of San Francisco, were in a bind. The district needed $2.5 million to help secure a federally subsidized $25 million loan to build a badly needed elementary school. Charles Ramsey, president of the school board, says he needed that $2.5 million upfront, but the district didn't have it. 'Why would you leave $25 million on the table? You would never leave $25 million on the table.' In the West Contra Costa Schools' case, that $2.5 million bond will cost the district a whopping $34 million to repay." Continue reading →

Continue ReadingCalifornia School District Owes $1 Billion On $100 Million Loan

Chained CPI: Diet COLA for Social Security

"Before we discuss the nuances of the different measures of the CPI, it is important to keep in mind that millions of Americans rely on Social Security benefits for income protection. In fact, 65% of all beneficiaries rely on Social Security to provide 50% or more of their incomes, while 36% rely on benefits for 90% or more of their incomes. For non-married beneficiaries, including widows, the reliance is higher with 74% relying on benefits for 50% or more of their incomes and 46% relying for 90% or more of their incomes." Continue reading →

Continue ReadingChained CPI: Diet COLA for Social Security

Georgia rebuilds Stalin monuments

"A Joseph Stalin statue went back up in the Georgian village of Alvani on Friday in a sign of the slipping authority of President Mikheil Saakashvili, who had ordered its removal. The pro-Western president is serving out what some are calling a lame-duck term ahead of elections next year from which he is barred on account of the end of his 10-year constitutional mandate. Saakashvili, whose forces fought a five-day war with Russia in 2008 and who has always sought to ally Georgia with the United States, had spearheaded a furious de-Stalinisation campaign." Continue reading →

Continue ReadingGeorgia rebuilds Stalin monuments

While Much of America Suffers with Stagnation, Washington’s Political Class Is Having a Very Merry Christmas

"In the town that launched the War on Poverty 48 years ago, the poor are getting poorer despite the government’s help. And the rich are getting richer because of it. The top 5 percent of households in Washington, D.C., made more than $500,000 on average last year, while the bottom 20 percent earned less than $9,500 – a ratio of 54 to 1. That gap is up from 39 to 1 two decades ago. It’s wider than in any of the 50 states and all but two major cities." Continue reading →

Continue ReadingWhile Much of America Suffers with Stagnation, Washington’s Political Class Is Having a Very Merry Christmas

Why You Might Only Be Able to Get Part-Time Work in 2013

"Here is what I am doing for the rest of the year -- working with every manager in my company so that as of January 1, 2013, none of our employees are working more than 28 hours a week. We have got to get our company under 50 full time employees or else I am facing a bill from Obamacare in 2014 that will be several times larger than my annual profit. I love my workers. They make me a success. But most of my competitors are small businesses that are exempt from the Obamacare hammer. To compete, I must make sure my company is exempt as well. This means that our 400+ full time employees will have to be less than 50 in 2013." Continue reading →

Continue ReadingWhy You Might Only Be Able to Get Part-Time Work in 2013

New Taxes to Take Effect to Fund Health Care Law

"Among the most affluent fifth of households, those affected will see tax increases averaging $6,000 next year, economists estimate. The law does not provide for the money to be deposited in a specific trust fund. It is added to the government’s general tax revenues and can be used for education, law enforcement, farm subsidies or other purposes. Under another provision of the health care law, consumers may find it more difficult to obtain a tax break for unreimbursed medical expenses. In addition, workers face a new $2,500 limit on the amount they can contribute to flexible spending accounts used to pay medical expenses." Continue reading →

Continue ReadingNew Taxes to Take Effect to Fund Health Care Law

Men Find Careers in Collecting Disability

"In 1960, some 455,000 workers were receiving disability payments. In 2011, the number was 8,600,000. In 1960, the percentage of the economically active 18-to-64 population receiving disability benefits was 0.65 percent. In 2010, it was 5.6 percent. Things have changed. Americans have grown healthier, and significantly lower numbers die before 65 than was the case a half-century ago. Nevertheless, the disability rolls have ballooned. Eberstadt points out that in 1960, only one-fifth of disability benefits went to those with 'mood disorders' and 'muscoskeletal' problems. In 2011, nearly half of those on disability voiced such complaints." Continue reading →

Continue ReadingMen Find Careers in Collecting Disability

Why the Poles keep coming: The British welfare trap

"If I was in a position of a British single mother I have not the slightest doubt that I would choose welfare. Why break your back on the minimum wage for longer than you have to, if it doesn’t pay? Some people do have the resolve to do it. I know I wouldn’t. Until our policymakers start to see things through the eyes of those ensnared in welfare traps, nothing will change. The Poles are not caught in this welfare trap. For then, the work premium is far higher. If you had designed a system to keep the poor down, in would not look much different to the above." Continue reading →

Continue ReadingWhy the Poles keep coming: The British welfare trap