House of Paine

no ass hole lets not hear it.... one more time

of course

 i'm speakin of


" the good old household leverage blues"

 way way too much of  it 
get sung these days

 and
         dats for sure  ....

-----------------------

now at street level 

the question as always 

izz
who's levering who here


and 
to what end ???

  and thats 
       'tres simple ':

  " if ya got a  bigger
         household 
'no matter what  nut'

 then fucker  you best
      sell more  job hours... 
                        dat is iffin 
                                 ya can "

  but some  sports
call that lyric
            graceless 
they 
    like their kapshow 
      much  better 
when she's
       served  up
             piping  hot 
                 and 
             even a tad sulferous ...



 come 
     enter a case in point .....

==============================


  this
     be
           By one 
         doctor  Rick Wolff (phd)

  now please
     watch the jazz box work  here 

its pure  lapidoodle dandy   


--------------------------------

 first   move 
 
      some serious 
           ten finger twined hand wringing...


"There is no precedent 
in US 
or any other history
for the level of .....
     personal debt 
now carried by the American people "

 as in


" 10  trillion "  simollians !!!!!!   

-- i figure with 130 mill households
  that's an average  load 
of what 75 k 


as my pop used to  say

"geez u could get 
all 10  of your gals 
out of  trouble with that" ---

---and thats comparatatively speaking ...
                   to   continue -------

 "  household debt payments 
as a percentage of after-tax
income  is at 
14 % "

 brothers and sisters

 
that's 

" the highest since the Fed began
recording this statistic in 1980"

-----------------

had enough ..i have 

" HEY ricky ticky 
   wiggle yo azz  over here

mama's got a little somethin for ya ......

dats right honey 

    closer... closer... closer... "


  SWACK !!!!!!


--------------------------
 i know your gone 

 but i'm bored 

     so 
i'll  press on 


  behold here comes
  
  a little  palm sized can of 
                       boiled  history ....


weekday  budget


      three frames



 frame one :

" After the stock market
bubble burst in 2000
 the Federal Reserve
 tried to contain the damage
 by drastic sustained cuts
       in
interest rates. ..... "


frame two:

" Already debt-addicted
 US households
responded  vigorously
  to ever cheaper
and 
more plentifully  available 
      credit 
      by 
  borrowing more"

------ ya baby 
               much
              much much more -----


final frame 

(with an obvious  bow 
   to bill F's immortal benjy) 

--- the spiral up
 here
  a self feeder thang 
  so the degree of difficulty
          iz ~ 2.7  ----

" As housing prices
get  bid up, 
and homeowners' "equity" 
 rises  
they  borrow
 and then  borrow still more
and  
then pay still more
 and  then their
values go higher still 
   and then they 
borrow again
  and with the higher "home equity"
 as collateral
up they go into the air further 
 on and up and  up and up and on "

 ----- for apparently
         silly    
     reasons of self display
  our rickles
now  tosses in a  smidge of
      behind the  big curtain  
      dark cloud gathering ... -----


"Nowadays, banks lending 
    to US homeowners
usually resell that debt
 to investors in the form of
"mortgage-backed securities" 

----    got the purport hoss ??? ----

"Because the US government
is believed to guarantee 
  those securities
 more or less"

--- "believed" .... "more or less"

is it ? 
isn't it ??

what ????

 yes sir
      this is left to dangle.... -------
        
 
-------  now 
    get ready to   cue 
        the chinky chop blast of doom music --------

"The two biggest buyers ....(music)
 banks in Japan 
and the People's Republic of China"

 

and then 
its tutti all the way out
   ie
 ----- we get a quick as a wink 
         patented
  herd panic  stampede tableau ------  

" Everyone may want to keep the boom
afloat but .... because everyone
 is also hyper-vigilant 
toget out of a market 
 on the way down....
 any  downturn starts 
             a collapse"

  so thats  the up shot  gang  ??



 why for once couldn't 
       it end  nice and gentle ????

nope 

   sorry up ahead .....------------
  
       " precipice"

    
       ----yup----- 

" Once again" 

"the inherent motions 
 of .....capitalism "
          

------ are driving us bovines 
               straight the fuck
                           over 
                                montgomery's cliff -------
 

                             " the end "

--------------------------------------------

thanx Rick 

 hope i run in to ya  
    at  the sponge house
                soft ball picnic   

----------------------------------
by the way doc wolfsbane  here 
is one of an endless slurry of left-esticles
operating out of 
      the Economics motor pool  
             up   at
 the un-versity of Massachusetts 
                ......
                      .........  at Amherst


-------------------------------

  my pray :


 please dear hearts 
will you fucking  find a song 
                       some what 
                           less flogged   

i mean how many encores 

of  keep your powder dry

cause we got 
  
" bubble bubble 
         boil and flubble  "
 can 
even the noblest 
green stick 
        frig-head take ????


   dear jesus 
forgive my nasty thoughts

but 
   
don't it  get  to be a bit too much

  ain't it a little 
 like 
    seeing
          yet  another
       fred sanford  heart attack
 
 i mean come on 

 after enough 
of that fuckin ham hocking
 
  we all  eventually gotta start  hopin'
 this time
      that fuzzy haired old frog  
 really does join his elizabeth