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Understanding the credit mess our country is in can help you understand your own credit situation.  This article explains the credit mess the country is in right now.

How can our country repair its credit?

The Credit Crisis is Not Over

As we look back and this year comes to an end we find two plus years of failure. Even government admits to 1-1/2 years of negative growth – a sorry record after having poured trillions of dollars into the economy. The recent 3rd quarter results supposedly broke that record. If it did it was the result of government stimulus and Fed monetization. If you look back further you will find a stock market that rallied 54% just to reflect the highs of 1999. House prices have decline to 1990s levels as well. Both markets, which were bubbles, next year will fall again. Americans opened their markets to products of Communist China’s slave labor and China became the world’s biggest exporter. Via free trade, globalization, offshoring and outsourcing, transnational conglomerates have stolen America’s destiny and handed it to China. This is what corporatist fascism is all about.

The dollar will soon end its mini-rally and the USDX will test 71.18 in the first quarter as the euro tests $1.62. Interest rates will stay at zero for at least two years, and mega monetization will continue. As you have just seen the Treasury wants TARP funds for Treasury debt and the administration wants the TARP funds to further stimulate the economy. Either way it is very inflationary.

We are told the credit crisis is over and that recovery is underway. We do not believe that. It is projected that as many as 300 more companies will default on debt in 2011. A default rate of 12 to 14 percent. That is up from 1% in 2007 and a long-term average of 4.5%. These are not just small firms, but companies with more than $100 million in assets as well. That doesn’t sound like recovery to us. What is very significant is that the 300-figure is based on recovery. Only 116 companies defaulted between 2004 and 2007. One of the groups hit hard will be commercial real estate. The figures are already bad, but companies and lenders have been buying time by using two sets of books, marking to model and refinancing. All that doesn’t change the big picture and that is with a recovery the situation will be bad, without recovery it will be dreadful.    –more

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There has been a lot of controversy surrounding ACORN especially after this video.  I don’t think anyone was surprised that they found that they didn’t do anything wrong.  If I am ever pulled over for speeding, I’ll tell the police officer I will look into the matter and publish my findings.  No need for a ticket just yet.

People are waking up and change will be coming.

ACORN Did Nothing Illegal, Independent Probe Finds

The Association of Community Organizers for Reform Now (ACORN) doesn’t show a pattern of intentional and illegal behavior in undercover videos that conservatives shot of ACORN staffers. That’s according to an independent, two-month review of ACORN released Monday.

Scott Harshbarger, senior counsel at Proskauer and former Massachusetts attorney general, created the findings of the report. The independent review is the result of two months of research and interviews by Harshbarger and lawyer Amy Crafts working in Proskauer’s Boston, Washington and New York offices. It shows the independent analysis requested by ACORN on September 21 in the wake of the video controversies, significant negative news coverage and lost support among some funders, allies and supporters.   –more

Here is the video in question:

Undercover investigation featuring prostitution, sex trafficking, tax evasion, and money laundering.
Song ‘Ridiculous’ copyright ©2009 Anthony Dini. Used with permission.
http://www.myspace.com/anthonydinimusic

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