Posts tagged loan

Michael Badnarik: The Constitution is Still Relevant


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Published on Oct 19, 2012 by



As mentioned in the interview as essential reading, The Law By Frederic Bastiat, can be downloaded free for either the written or the audio book here: The Law by Frederick Bastiat

VA Home Loan News | New Homes in California for Veterans




VA Home Loan News | New Homes in California for Veterans

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Plans to build nearly 100 homes for veterans in Santa Clarita and Sylmar advanced this week as the California Department of Veterans Affairs said it would fund the project and released new details.

The so-called Habitat for Heroes veterans village would be built by Habitat for Humanity San Fernando/Santa Clarita Valley using a $21-million award from the California Department of Veterans Affairs, plus private donations, agency officials said. The announcement was marked at a ribbon-cutting ceremony in Santa Clarita on Monday.

Eighty-seven three- to four-bedroom homes measuring 1,450-square-feet each would be built in Santa Clarita. At least nine would be designed for adults with disabilities, said Donna Deutchman, chief executive of Habitat for Humanity San Fernando/Santa Clarita Valley. An additional 12 homes would be built in Sylmar. Advocates are seeking additional donors to help fund the project.

Deutchman said the green energy-efficient properties would be priced lower than their market value–$276,000 or less in Santa Clarita and $256,000 or lower in Sylmar.

To qualify for a home in Santa Clarita, a veteran’s family income must range between $52,000 and $83,000 a year, and between  $45,000 and $83,650 for a home in Sylmar. If there is more than one applicant per home, the decision to  award the home would be based on need, Deutchman said.

CalVet home loans would be available to eligible veterans in addition to  a Habitat SF/SCV second loan, according to information published about the project. In the case of the Sylmar homes, a deferred silent third loan would be available from the California Department of Housing and Community Development, CalVet officials said.

Veterans would be encouraged to provide “sweat equity” to help reduce the costs of building  the homes, officials said.

Deutchman said that about 11,000 veterans live in Santa Clarita, and about700 of them — mostly young people — had served in Iraq and Afghanistan.

Purchasing these new properties would allow the ex-service members to “acquire a piece of the American Dream,” CalVet Secretary Peter J. Gravett said in a statement.

“These planned veteran communities will not only bring veterans together but will also offer them a neighborhood that promotes self-sufficiency,” he added.

Veterans wishing to participate in this program must first apply to Habitat for Humanity SF/SVC at

Debt Slavery: 30 Facts About Debt In America That Will Blow Your Mind



When most people think about America’s debt problem, they think of the debt of the federal government.  But that is only part of the story.  The sad truth is that debt slavery has become a way of life for tens of millions of American families.  Over the past several decades, most Americans have willingly allowed themselves to become enslaved to debt.  These days, most of us are busy either going into even more debt or paying off the debt that we have accumulated in the past.  When your finances are dominated by debt, it makes it really hard to ever get ahead.  Incredibly, 43 percent of all American families spend more than they earn each year.  Even while median household income continues to decline (now less than $50,000 a year), median household debt continues to go up.  According to the Federal Reserve, median household debt in America has risen to $75,600.  Many Americans spend decades caught in the trap of debt slavery.  Large numbers of them never even escape at all and die in debt.  It can be a lot of fun to spend lots of money and go into lots of debt, but it can be absolutely soul crushing to toil and labor for years paying off those debts while making others wealthy in the process.  Hopefully this article will inspire many people to try to escape the chains of debt slavery once and for all.

Because the truth is that the American people need a wake up call.  Consumer borrowing rose by another $19.3 billion in December.  Right now it is sitting at a grand total of $2.5 trillion according to the Federal Reserve.

Overall, consumer debt in America has increased by a whopping 1700% since 1971.

We always criticize the federal government for going into so much debt, but we rarely criticize ourselves for our own addiction to debt.

Debt slavery is destroying millions of lives all across this country, and it is imperative that we educate the American people about the dangers of all this debt.

The following are 30 facts about debt in America that will absolutely blow your mind….

Credit Card Debt

#1 Today, 46% of all Americans carry a credit card balance from month to month.

#2 Overall, Americans are carrying a grand total of $798 billion in credit card debt.

#3 If you were alive when Jesus was born and you spent a million dollars every single day since then, you still would not have spent $798 billion by now.

#4 Right now, there are more than 600 million active credit cards in the United States.

#5 For households that have credit card debt, the average amount of credit card debt is an astounding $15,799.

#6 If you can believe it, one out of every seven Americans has at least 10 credit cards.

#7 The average interest rate on a credit card that is carrying a balance is now up to 13.10 percent.

#8 According to the credit card calculator on the Federal Reserve website, if you have a $10,000 credit card balance and you are being charged a rate of 13.10 percent and you only make the minimum payment each time, it will take you 27 years to pay it off and you will end up paying back a total of $21,271.

#9 There is one credit card company out there, First Premier, that charges interest rates of up to 49.9 percent.  Amazingly, First Premier has 2.6 million customers.

Auto Loan Debt

#10 The length of auto loans in America just keeps getting longer and longer.  If you can believe it, 45 percent of all new car loans being made today are for more than 6 years.

#11 Approximately 70 percent of all car purchases in the United States involve an auto loan.

#12 A subprime auto loan bubble is steadily building.  Today, 45 percent of all auto loans are made to subprime borrowers.  At some point that is going to be a massive problem.

Mortgage Debt

#13 Total home mortgage debt in the United States is now about 5 times larger than it was just 20 years ago.

#14 Mortgage debt as a percentage of GDP has more than tripled since 1955.

#15 According to the Mortgage Bankers Association, approximately 8 million Americans are at least one month behind on their mortgage payments.

#16 Historically, the percentage of residential mortgages in foreclosure in the United States has tended to hover between 1 and 1.5 percent.  Today, it is up around 4.5 percent.

#17 According to Dylan Ratigan, 46 percent of all mortgaged properties in Florida are underwater, 50 percent of all mortgaged properties in Arizona are underwater and 63 percent of all mortgaged properties in Nevada are underwater.

#18 Overall, nearly 29 percent of all homes with a mortgage in the United States are underwater.

#19 If you can believe it, the mortgage lenders now have more equity in U.S. homes than the American people do.


Your Tax Dollars Or From A Chinese Loan?


Scary! Filmed today 1/20/2012 in Watsonville, CA South of Santa Cruz going South

Andrew Tuckman

I began filming this after a dozen or so train cars went by on a stretch of track south of Santa Cruz California. Where are the military vehicles going? Why are they being shipped? What could this possibly be for? Barack Obama, what are you up to? We want answers…..

[CIM Comment]

Either way, we are paying for it or now owe more for it.  The military industrial complex that profits from war does not care where the funding comes from, it simply wants more to increase profits.  War is big business, and I am just referring to the manufacturing side that we the people are paying for.  This does not include the opium trafficking that is widely reported on and the horrible loss of life.

Should you ever choose to truly support or great military people you can pass on the cute ribbon decal or bumper sticker.  Show real sincerity, vote to bring the troops home!  There is only one candidate not preaching fear and needless wars, Dr. Ron Paul.

Please visit Ron Paul’s official campaign site by following the link below and donate today!


The Federal Reserve and Santa Claus [Spoiler Alert]



Spoiler Alert: If there are any six year olds reading this blog, you can skip today’s post. It’s not written for you. Do the right thing and click the “x” on this tab right now. Santa’s watching.

I believed in Santa Claus a little longer than most children do. For some reason, as long as I couldn’t definitely prove that my parents were the ones leaving presents under the Christmas tree, I wasn’t ready to completely reject the possibility that it really was jolly old Saint Nick riding a sleigh pulled by reindeer and magically shrinking himself small enough to slip under the front door or through the key hole and into my house (we didn’t have a chimney).

And my parents were incredibly sneaky. I never once caught them. But when I finally told my dad I didn’t believe in Santa any more, he said, with a sly grin, “Santa doesn’t deliver presents to kids who don’t believe in him,” and I promptly responded, “I believe! I believe!” The matter was settled. I got some awesome Legos that year.

The Federal Reserve, fiat money, and inflationary stimulus policies are no different than the Santa Claus of our childhoods. The only problem is that so many adults still believe in them. Let’s examine just how similar the two really are: Santa magically gives you everything you wished for at no cost to you. Free stuff, created magically out of thin air by elves in the North Pole. Purportedly, so can the Fed. Its magical elves are accountants that create wealth out of thin air at the stroke of a pen.


Officials Knew The Solyndra Deal Was Possibly Illegal



Officials at the Department of Energy were warned that they could be violating the law if they restructured a loan guarantee for the solar panel maker Solyndra so that investors would be repaid before taxpayers. They went ahead anyway, The Washington Post reports, after getting a look at the email correspondence that preceded the Solyndra deal’s approval.

The documents offer new evidence of wide disagreement between officials at the Energy Department and officials at the Treasury Department and Office of Management and Budget, where questions were raised about the carefulness of the loan vetting process used to select Solyndra and the special help it was given as its finances deteriorated. Energy Department officials continued to make loan payments to the company even after it had defaulted on the terms of its loan.

That revelation follows on the news that a former Obama fundraiser and Energy Department official, Steve Spinner, pushed for the Solyndra loan even though his wife’s law firm worked for the company and he had said he would recuse himself. The Post points to a disagreement among agencies, one that was seemingly won by the Energy Department, about whether the structure of the loan was justifiable.

The e-mails show that Mary Miller, an assistant Treasury secretary, wrote to Jeffrey D. Zients, deputy OMB director, expressing concern. She said that the deal could violate federal law because it put investors’ interests ahead of taxpayers’ and that she had advised that it should be reviewed by the Justice Department.

“To our knowledge that never happened,” Miller wrote in a Aug. 17, 2011, memo to the OMB.

In February, the restructuring was approved by Energy Secretary Steven Chu.

Email traffic reflected growing political concern as the company began to founder, TIME reports:

As recently as August of this year, as Solyndra teetered on default, the import of the company’s failure was not lost on White House officials. On August 26, Heather Zichal, a deputy assistant to the President on energy policy, e-mailed a colleague at the Office of Management and Budget, asking if he would be on an upcoming conference call about Solyndra.

“Y. What’s the deal?” the colleague wrote back.

“*#~@storm,” replied Zichal.

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