You lie! to President Obama. Rep. Joe Wilson R-(SC)

Check this link ....... http://bit.ly/7t5a8

GM to lay off about 1,000

White-collar jobs across the board targeted; most cuts expected to be completed by Oct. 1

General Motors Co. needs to lay off about 1,000 white-collar workers this month because only 1,900 accepted early retirement and buyout offers, the automaker said Wednesday.

The 1,000 involuntary cuts are part of GM's plan to slash 6,000 salaried jobs by the end of the year and most will hit southeastern Michigan communities with GM operations such as Detroit, Warren, Milford and Pontiac. The area already is reeling from pending GM factory closures and blue-collar job cuts from earlier this year.

GM will start notifying the 1,000 workers in coming weeks and the job cuts will reach across the automaker's operations, spokesman Tom Wilkinson said.

The workers, most of whom will be gone by Oct. 1, will receive severance packages that give salaried workers up to six months pay and benefits, while executive employees can qualify for up to a year's worth.

The workers also can chose an early retirement incentive that, for example, would let an eligible worker retire at 58 with benefits they would have received at age 62.

"We were encouraged by the number of people who took early retirements and buyouts," Wilkinson said.

The automaker outlined plans earlier this year to eliminate more than 6,000 white-collar jobs by the end of 2009. GM started the year with 29,650 white-collar workers and wants to end it with 23,500.

The white-collar work force is just one area where GM continues to make cuts after emerging from bankruptcy court July 10 having shed billions in debt, brands and factories.

Last month, GM said it also may lay off hourly workers this year after about 6,000 employees accepted its most-recent buyout and early retirement offers, bringing the total number of hourly workers taking the deals to about 13,000.

GM has said it wants to eliminate 21,000 hourly jobs this year, but that figure may need to be revised depending on whether vehicle sales improve this year and if some of the 13,000 retirement-eligible United Auto Workers members retire. Since 2006, about 66,000 U.S. hourly workers have accepted buyouts and early retirements.

by Robert Snell / The Detroit News

UN dollar to replace US dollar-One World Currency

Check this link ...... http://bit.ly/11Nn8b

1 DAY BEFORE 911 WTC attack! DO u know what happened?WATCH!

Check this link ....... http://bit.ly/14RDoY

$1.1 Trillion in Toxic Loans: $908 Billion in Interest Only and $198 Billion in Option ARMs. The Zombie Loans that Simply Don’t Die.

Two years of a deep and prolonged recession and we still can’t seem to get a hold of the toxic assets plaguing the books of banks. Much of this comes from the scamming and blood sucking from banks on the taxpayer. How can $13 trillion in backstops and commitments not resolve the problem? First, the banking system operates as a crony operation looking to serve its own interest even if it comes at the detriment of the entire economy. News coming out this week simply reaffirms what we have been saying for the entire year. The Alt-A and option ARM wave is imploding right on schedule.

When I wrote about the Alt-A loans back in May of this year, we put a ballpark figure of $1 trillion for toxic mortgages. So after all the gimmicks and money being thrown at the system it turns out that we still have over $1 trillion in junk mortgages. A recent analysis by First American CoreLogic put the amount of Interest Only mortgages at $908 billion with 2.8 million loans active. Fitch Ratings came out this week showing that there are still $189 billion in option ARMs in the system. For all you folks who thought that all the option ARMs were modified, the data shows only 3.5 percent of the nearly 1 million loans have been modified. And those that have been modified still re-default at incredibly high rates.

So let us put this into perspective with current data:

Now a couple of things to mention. There is overlap between a few categories. For example, a large number of the option ARMs fall under the Alt-A category. Many Interest Only loans are also Alt-A loans. A better estimate is the specific category of Option ARMs and Interest Only and that is a combined total of $1.097 trillion. This is the number of loans out in the system currently. Plus, there are still many active subprime loans. These loans are part of the zombie bank balance sheet.

Yet the reason these loans will be so problematic is how borrowers are viewing the future:

“(NY Time) With many of these homes under water — worth less than the loans against them — many interest-only mortgages will soon become unaffordable, as the homeowners have to actually start paying principal. Monthly payments can jump by as much as 75 percent.

The Mollers owe so much more than their house is worth, and have so few options, that they are already anticipating doom.

“I’m praying for another boom,” said Mr. Moller, 34. “Otherwise, we’ll have to walk.”

Keith Gumbinger, an analyst with HSH Associates, said: “This is going to be the source of tomorrow’s troubles. The borrowers might have thought these were safe loans, but it turns out they bet the house.”

Praying for another epic housing bubble is highly unlikely. The Mollers by the way bought in over priced and over hyped San Diego. San Diego, just like Los Angeles and Orange counties has a legion of people that are praying for another boom to come along. Forget about jobs or income, they conveniently ignore the 11.9 percent unemployment rate and the reality that the state has had to budget some $60 billion in budget cuts. If we use a better measure of unemployment and underemployment, the state has a rate above 22 percent:

What does this data tells us? First, these loans are doomed to fail. It isn’t a question of whether they will fail but how bad will they fail. The issue of shadow inventory is important because many of these banks are simply not moving on homes and ignoring the foreclosure process completely. Not true? Well look at some examples across the country:

“(Cleveland) Renetta Atterberry thought she had lost her East 102nd Street house. So she was shocked to learn in January — five years after her mortgage company filed for foreclosure — that it was still in her name.

Worse, the long-vacant rental home had been vandalized and she faced a raft of housing code violations. Since then, she has been saddled with debts of about $12,000 to pay for demolition and back taxes.

“I thought I had nothing else to do with that home,” said Atterberry. “I was so embarrassed and humiliated by this.”

Her mortgage company didn’t buy the house and never took it to sheriff’s sale to see if somebody else would, leaving Atterberry the legal owner, responsible for upkeep and taxes.

These so-called “bank walkaways” are another troubling development in the foreclosure crisis, particularly in cities like Cleveland with weaker housing markets, say housing advocates and government officials.”

In many other areas, banks are simply walking away from homes. In fact, it is a cold and calculating move. If they take possession of a property, they are responsible for taxes and maintaining the property according to city ordinances. Instead, they do nothing. In their calculus, they figure legal fees and handling the foreclosure process correctly outweigh doing absolutely nothing. You would think with trillions in bailouts banks would have a structured system in place after two long years into the crisis but they are as incompetent as they ever were. That is why it is maddening to entrust the people that created this mess to get us out of it. We need a new group and a new way of thinking. A first easy step is to eliminate the CEOs of every single top bank in the country. Also, we should claw-back any bonuses and compensation from these scammers.

If you think it couldn’t get any more ridiculous, the U.S. Treasury on their FAQ actually tells you how you can contribute to help pay down the national debt! Bwahahahaha! You must have cajones the size of watermelons to ask for something like that.

But back to the toxic loans, the clock has now stopped ticking:

“The interest-only periods, which put off the principal payments for five, seven or 10 years, are now beginning to expire. In the next 12 months, $71 billion of interest-only loans will reset. The year after, another $100 billion will reset. After mid-2011, another $400 billion will reset.”

So much for these loans being resolved. You might be asking, what have banks been doing with all this money? Well first, they haven’t done much to stop nationwide foreclosures:

So not much is being done there. Maybe they’re lending more money. Nope:

“(MarketWatch)- U.S. consumers reduced their credit burden by a record amount in July, the Federal Reserve reported Tuesday. Total seasonally adjusted consumer debt fell $21.55 billion, or at a 10.4% annual rate, in July to $2.47 trillion. This is the sixth straight monthly drop in consumer credit. Consumers have retrenched since the financial crisis hit the economy in full force last September. Credit has fallen in every month since then except January.”

This really leaves you scratching your head. If they aren’t helping on the foreclosure front and aren’t lending, then what are they doing? How about paying out massive profits to their cronies:

“(Bloomberg) — Goldman Sachs Group Inc. posted record earnings as revenue from trading and stock underwriting reached all-time highs less than a year after the firm took $10 billion in U.S. rescue funds.

Second-quarter net income was $3.44 billion, or $4.93 a share, the New York-based bank said today in a statement. That surpassed the $3.65 per-share average estimate of 22 analysts surveyed by Bloomberg and was 65 percent higher than last year’s second quarter.”

So that’s where the money is going. The pretense that the money was to help the average American consumer was a gigantic stinking load so they could continue paying one another massive amounts of money. Incredibly for bringing the country near the brink of another Great Depression they are rewarded. We still haven’t seen a comparable Pecora Investigation. We have a committee looking into the causes as if we need to understand anymore! The banking system is corrupt to the core! It produced a minion of greedy short sighted thinkers that paper pushed this country into believing flipping homes to one another and sticking on granite countertops to every home was the ultimate sign of success. A massive and epic fraud. This is something we already know. Yet here we are allowing these same players to continue to game the system while 26.3 million Americans are unemployed or underemployed seeing the middle class evaporate like a drop of water in the Mojave Desert.

Leave it to California to have these same players proclaim that the bottom is here. Where do you think most of the $1.1 trillion in loans sit? California, Florida, Nevada, and Arizona own 75 percent of the option ARMs. Alt-As? California holds 42 percent of all loans categorized as Alt-As. Yet here people are thinking it won’t impact them in Pasadena, Culver City, or other semi-prime areas.

And guess what? There is this naïve notion that somehow these areas are populated by rich households able to withstand any economic hardship. Right on time to eliminate that wrong perspective:

“(Bloomberg) Wealthy Families Face Bankruptcy on Real Estate Crash

Wealthy individuals’ Chapter 11 bankruptcy filings jumped 73 percent in the second quarter from a year earlier, according to the National Bankruptcy Research Center, a research firm in Burlingame, California.

More individuals or families with at least $1,010,650 in secured debt and $336,900 unsecured are using Chapter 11 of the U.S. bankruptcy code typically associated with business reorganizations. Falling U.S. home prices leave them unable to refinance or sell properties when they drop below the value of the mortgage, said Joseph Baldi, a Chicago bankruptcy attorney.

Chapter 11 is more expensive and time-consuming for debtors and creditors than a Chapter 7 liquidation of assets. Wealthier people filing for bankruptcy typically have large homes, two car payments and children in private schools, said Leslie Linfield, executive director of the Institute for Financial Literacy in Portland, Maine, a credit-counseling and research group.

“You’re living on the edge, you’re juggling those financial balls,” Linfield said. “When one ball goes, they all fall down.”

People forget that a vast majority of people live on the financial edge. If you live in keeping up with the Joneses areas like Orange County, if you make $150,000 many times you are spending $175,000. Make $300,000? Some spend up to $400,000. That is the issue. Americans from poor to rich spend more than they make. This is now fundamentally changing by force. People forget that a million dollar mortgage carries enormous costs. In some areas like Irvine you saw million dollar homes going to people that made $200,000! Maybe this is out of the realm of most people. Take a look at this sample option ARM case:

“(NY Times) Mr. Clavon, 63, was planning to sell the home in a few years and retire to Palm Springs. So he got a loan called an option adjustable rate mortgage, or option ARM, which allowed him to pay less than the interest for the first five years.

On his annual salary of $100,000 as a television camera operator, he could afford the $2,200 initial mortgage payments. And he planned to sell the home before the mortgage reset.

Because Mr. Clavon made only minimum payments on his mortgage, his balance has risen to $680,000 from $618,000, on a house worth closer to $400,000.”

Mr. Clavon is in good company. As it turns out 94 percent of option ARM borrowers made the minimum payment.

His payment is scheduled to go over $4,000 in two years. In fact, it might go much higher since he has paid zero to his principal. Let assume he refinances his mortgage to a 30 year fixed jumbo:

Given Mr. Clavon is 63, what bank is going to offer him a 30 year loan on a home that is underwater by $280,000? According to our numbers, he will pay off the home at 93 if he goes with a 30 year fixed mortgage. Why not go for the 40 year loan mods and be done at 103? The home is located in California (of course). Look at the above though, even with a refinance his principal and interest payment alone is $4,298. Add in insurance and taxes and his payment goes up to $5,000! That will virtually eat 100 percent of his net pay.

You might ask why banks have not dealt with these loans. Easy, that loan of Mr. Clavon is still on the bank balance sheet at face value. Do you think they want to lower it to $400,000 and eat the loss? They will go under. Shadow inventory is here and only those who are blind choose to ignore it.

This case isn’t unique. You can rummage through the multiple Real Homes of Genius examples and you will realize California is littered with these mortgages. People and banks praying for another boom so they can off load these homes to other suckers. Sounds like a fantastic strategy to me.

9/11 Myth Huggers: 8 Years of Ignoring the Evidence

The establishment media hold up an apple for your inspection, and they tell you it is an orange. If I try to show you that you are looking at an apple it does not make me a "conspiracy theorist," it makes me your friend. Remember that! - Jesse Richard - Editor, TvNewsLIES.org

On the day of 9/11/2001 I was so caught up in the official explanation of the events, which were already being drilled into our heads by the establishment media, that I sent out an inflammatory e-mail in which I slammed Islam for being a radical religion (as if there is such a thing as a non-radical religion). It took me about two years before I started admitting to myself that the official evidence really did not support the official explanation of the events. As a matter of fact, the official explanation was kind of laughable when compared to the evidence. Only it really was not funny.

This article is not intended to provide you with the hundreds of volumes of evidence that contradict the official explanation of the events of 9/11. It is simply meant to point out a few interesting dynamics that I have witnessed during my five years of research into the event.

There are some clear tell-tale dynamics among the American people that I believe go a long way towards explaining why the American people have not taken to the streets to round up the members of the Bush administration, most notably the Cheney/PNAC cabal, and burn them alive for their roles in the events of 9/11. What I mean by this is that the officially acknowledged body of evidence so convincingly incriminates insiders that I can not imagine the American people not taking out their anger on the real culprits.

Think about the rage you felt towards al Qaida and the Taliban when you were told that they were the people responsible for 9/11. Well, just imagine the rage you would feel when you realize that the evidence actual points more directly to a sitting American vice president and his comrades in the Department of Defense and in the Defense Policy Board. I know how I feel and I assume, maybe naively, that I am not alone.

Back to point of this article. Let me point out a few interesting dynamics and personality types that I have observed when it comes to the American people and their attitudes towards the official body of evidence as it pertains to 9/11 culpability.

1. The One-Way Flipit - This is the term I use for the one-way phenomenon of people altering their beliefs about 9/11 culpability. During the seven years of post 9/11 life and during the five years of my research into the events of 9/11, I have neither witnessed or heard of anyone who realized that 9/11 was a false flag operation carried out by moles within the Unites States military and intelligence apparatus, and then switched positions and started believing the official story. I have not even heard about one single human being in any country around the world who, after examining enough evidence to conclude that 9/11 was an inside job, reversed their position. I do, on a daily basis witness people who, when told about some of the evidence not discussed by the establishment media, change their position so that it aligns with the facts.
2. The American Dream Dopes and the Bleeding Heart Conservatives - These are terms I use for people who ignore history and everything around them and vehemently believe that America is the most wonderful nation in the world that has never and will never do wrong. They also believe that America is a real democracy and that the voting public has an actual say in things. Too funny. Anyway, these people, when shown the mountains of evidence eventually run out of counter arguments and accept the fact that the evidence is overwhelming and damning of the Bush administration, but fall back on the old "I still don't believe that they would do such a thing!" These people, no matter how conservative they may be, are the true bleeding heart liberals of the world.
3. Counter Truth Theorists - This is what I call the people who defend the official story by offering explanations that the authors of the official story don't even claim. They provide theoretical scenarios and reasoning that have never been put forward by the officials. Just as an example - any day of the week you can hear someone, on some talk radio or TV program, talk about the 19 hijackers or Osama bin Laden when it comes to 9/11. Well, according to the F.B.I the Osama is not wanted in connection with 9/11 because they have no evidence linking him to the events. And as far as the hijackers...7 of them are alive and the F.B.I. admitted that they do not have conclusive proof of who, if anybody, hijacked planes on 9/11. But the counter theorists keep spouting this crap.
4. The Jewish Conditional Truthers - These are people, mostly Jewish people who have seen the 9/11 evidence, understand and accept that it was indeed an inside job, but will stop all communication with you if there is any mention of possible Israeli or Mossad connections brought up. You can spot these people because they use the term "anti-Semite" to identify anyone who exposed any wrongdoing by an Israeli or by individuals who are working in the interest of Israel.
5. Daydreamers - These are the people who look at people like me and say that they realize that the government lied to them about 9/11 but the ramifications are too much for them to handle. So they just go about their lives ignoring all around them. Sadly, many of these people are parents and don't seem to give a damn what kind of world they are passing down to their children
6. The Re-Open the Investigation Oxy-Morons - This is what I call the 9/11 truthers who keep saying that the original investigation was a white wash. Folks...THERE WAS NO ORIGINAL INVESTIGATION! We don't need to re-open one, we need to have one! The job of the Kean Commission was to document the events as outlined in the prepared official story. Any evidence or testimony that did not corroborate the official story was to be left out. This was a rule of the Commission! Their mandate was to make recommendations on how to improve national security, not to find fault or blame and surely not to investigate!!!
7. US - We are the people who get it. When someone shows us an apple and tries to tell us that we are looking at an orange, we take that apple and place it in the mouth of the liar, as he or she spins over a nice open flame, like a nice roasted pig!

Well there it is. I think that everyone who still believes the official myth of 9/11 can pretty much fall into one of the categories that I have identified. I also think that America is "flipping" slowly into reality. It is just too bad that most Americans still have no idea what the evidence actually shows because our biggest enemy, the American establishment media, have kept them in the dark, as they do about pretty much everything.

And as far as the establishment media go...there are lot's of Americans who don't like to be lied to. And there are lots of apples in America. Maybe one day we will pay you a visit. apples in hand. So get ready to open up and say "ahh"! I'll bring the charcoal.

Dedicated to the 9/11 Truth Movement - Jesse Richard - Editor, TvNewsLIES.org

80,000 New Yorkers demand a new investigation into 9/11

NYC CAN News Bulletin – FORWARD WIDELY

September 8, 2009
NYC CAN Submits 28,000 More Signatures To Get Referendum for9/11 Investigation on the November Ballot

DEMAND 9/11 TRUTH NOW ! - 12.160Mhz

On Friday, September 4, the New York City Coalition for Accountability Now (NYC CAN) submitted 28,000 petition signatures as a supplement to the 52,000 signatures submitted on June 24 calling for a citywide referendum on the creation of a local, independent commission to investigate 9/11.

Over the last 25 years, every ballot initiative in New York City has been blocked on grounds of legal technicality, with the exception of the 1993 initiative to establish term limits for NYC elected officials, whose supporters also had to go to court to prove the initiative legal. With 80,000 New Yorkers having signed this petition, the City’s ongoing attempt to stop this referendum from going on the ballot is yet another blatant affront to the democratic ideals upon which this great nation was founded.

On July 24, the NYC City Clerk reported to the City Council that only 26,003 signatures from the submission of 52,000 signatures were valid. In response, NYC CAN filed suit and on Thursday, August 27 submitted a Bill of Particulars cataloguing 7,166 additional signatures that NYC CAN contends should be deemed valid.

The court-appointed referee will begin a line-by-line review of the disputed signatures on Wednesday, September 9, and is scheduled to complete the review by Friday, September 18. If the referee and court accept at least 3,996 of the disputed signatures as valid – meeting the requisite number of 30,000 signatures – and if 15,000 of the 28,000 signatures from the September 4 submission are deemed valid, the only remaining hurdle to getting the referendum on the ballot will be the ongoing court case over the legality of the petition.

The timetable for addressing the petition’s legality will be set in a meeting on Thursday September 10. The schedule should allow time for an appeal from either side in order to guarantee a final determination by the end of the month.

Once the schedule for the court case is set, NYC CAN will announce one or more rallies and events in the second half of September to demonstrate the tremendous public support that exists for a new, impartial investigation. NYC CAN calls upon all those who can be in lower Manhattan to join in solidarity with the 9/11 families, first responders, survivors and 80,000 New Yorkers to say loud and clear: no longer will we tolerate a government that ignores the will of its people. For the 3,000 who died on that day, the hundreds who have died since, and those still suffering today, 9/11 must be properly investigated.

The Bill of Particulars was assembled with the help of 50+ volunteers who gave more than 1,000 hours over a two-week period. On behalf of the petition’s 80,000 signatories, NYC CAN offers its deepest thanks to these volunteers who worked long and hard to prevent the voters New York City from being silenced by their government.