Daily Archives: April 20, 2011

Suppose They Throw A Revolution, And No One Comes

UPDATE: One news report showing in Jacksonville. Doesn’t look like much a “revolution” so far

Racial supremacists groups are known to make noise and have never accomplished anything but bringing harm to others. Black, White, Hispanic, doesn’t matter what they are, they advocate racial purity pitting race against race.

During times of economic strife is when they seem to make the most noise, always blaming others for problems within their community that not only did they cause, but ignore all the answers to solving those problems. The Ku Klux Klan blamed Blacks for strife in the South for decades instead of pulling together with Blacks, Jews and others to improve conditions there.

Now we see another supremacist group, the New Black Panthers calling for a Revolution worldwide to be kicked off this Saturday, April 23, 2011 in 60 cities.

“National Day of Action and Unity”


From the webpage set up, it is said they are

“supported by Students and Youth, members of many of Black Church, the New Black Panther Party, Nation of Islam, National Black United Front, National Action Network, Moorish Science Temple of America, Rainbow Push Coalition.”

No Pacific Northwest cities are amongst the list of 60 yet. The webpage also claims,

“To the Authorities, don’t worry about who is organizing it. This is organized by the people and for the people. This is organized by a new younger leadership un-approved by our former slave or colonial master. We are grassroots activists, youths, residents, union members, community residents, spiritual people, revolutionaries and freedom fighters who have decided to take a stand together April 23rd. The call of Dr. Malik Zulu Shabazz has resonated with the disillusioned all over the earth.”

“April 23rd, 2011 we are taking vigilantly to the streets, police stations, projects, courthouses, State Capitols, houses of racists, morgues, jails and anywhere our people can be found and the fight can be found for justice! We will rattle the enemy and those who are asleep to show and prove the world we are wide-awake!”

“Our demands are immediate and non-negotiable.”

Stirring hatred of others because of their skin color or cultural ancestry backfired on the Klan in time. Their hate filled rhetoric brought much harm not only on to Black People, but Whites as well. They were marginalized decades ago, but the effects of their hatred are still fresh in the minds of people of all races who realize the answer is pulling together, just as Blacks and Whites did in the aftermath of 1900 Galveston Hurricane.

Dr. Martin Luther King Jr. called for unity, mutual acceptance and the “day on the red hills of Georgia the sons of former slaves and the sons of former slave owners will be able to sit down together at the table of brotherhood.”

Bill Cosby, comedian, entertainer and a highly educated man laid it out well showing that the problem isn’t skin color, it’s the ill behavior of people, all races, all colors creating the problems.

You cannot continue to blame others for problems you created yourself.

Islam is said to be one fifth of the world’s population and has amassed great wealth as can be seen in so many Mosques all over the globe. Yet, they have some of the poorest underfed people in the world.

That is not the fault of Christianity, it is the greed and mismanagement of those controlling Islam.

They call for the redistribution of wealth, yet they cling to their own.

The New Black Panthers state, “we are wide-awake!”

Are they really?

Or are they just trying to use you to further their supremacist claims and take more of what you have for themselves?

Tell ’em where you saw it. Http://www.victoriataft.com

SEIU: And Now Your Banner Must Fall

And Now Your Banner Must Fall, SEIU

I like Target. SEIU apparently does not. Let’s see, why would that be? Oh, yeah, they’re not union. Is there a law against disrupting someone’s business with bad aerobic routines? Where are the anti bullying advocates now? I say to those members of the SEIU dance crew: “And now your banner must fall!”

Tell ’em where you saw it. Http://www.victoriataft.com

Pete the Banker on PPS Bond and Levy: Impeding a Housing Recovery

Housing sales are falling nationally as well as locally.   Oregon is among the most distressed markets in the nation with Portland area housing prices declining 5.4% in February, making it the third worst major market in the country tracked by Core Logic.    Standard and Poor’s reports that Portland has over a four year inventory of homes.  Here.  
It is under this distressed real estate market scenario that backers are asking Portlanders to pass a Bond Measure 26 -121 to raise $548 Million, which will raise real property taxes by $2/$1,000 of assessed value for the restoration/reconstruction of several Portland area schools together with Measure 26 -122 an operating levy seeking to raise an additional $.74/$1,000 over the existing levy. (here).

Looking at the real estate market there are currently three types of sales.  They include all cash primarily investor deals, distressed sales (foreclosures, short sales) and purchases dependent on financing.  Each account for ~1/3rd of the overall sales volume, although in recent months distressed sales volume has been somewhat higher and purchases dependent on financing some what less. 
In the case of each of these transaction types, this significant tax increase is likely to depress sales activity.  An investor acquiring property is looking for a return on his or her investment.  Generally, they will complete and analysis of the potential acquisition property by looking at the total revenue generated by the property, reduced by the property expenses to derive a net operating income.  This income figure is then divided by the expected rate of return (or capitalization rate) to establish a value which is the maximum amount the investor would be willing to pay.  Using Leonetti’s figure for tax increases on a median home of $960, and assuming no other changes in revenue, expense or expected rate of return (I’m using 8%), the increase in taxes would reduce price or value a potential investor would be willing to pay by ~$11,500 or another 3.3%. 
In the second case of a distressed sale, it is hard to make a case that a tax increase would help an already delinquent or struggling borrower.  In essence it may become the final “straw on the camels” back so to speak.  And foreclosure or distressed sales are generally at prices well below existing market prices for comparable homes, further depressing the market prices for other residences on the market.
In the final case of homes purchase contingent on financing, an increase in taxes of the magnitude suggested will adversely impact the ability of borrowers to qualify for the loan.  Generally, residential mortgage lenders consider the front end debt load ratio when qualifying a potential borrower meaning that the borrower’s potential housing expense including mortgage payment, taxes and insurance is compared to their income.  Recently, regulators are considering enacting a limit of 28% of these expenses to the borrower’s income for qualifying mortgages, although this hasn’t been finalized yet.  (Here) Obviously, if taxes are to increase by $960 in order to qualify a potential borrower’s income must also be higher, all other things staying the same to qualify. 

Assuming a purchase of $350,000 or a median home currently (Here), the potential borrowers seeking a 90% loan (currently regulators and Congress are debating an 80% loan to value maximum, although it is likely this will be negotiated higher) then the following analysis would back into the necessary income to obtain a qualified residential mortgage through Fannie, Freddie or the FHA.  The loan applied for would be $315,000 at a currently offered interest rate of ~4.75% on a 30 yr term.  The Principal and Interest Payments would be $1,643/mo or $19,716/yr.  Taxes based upon Leonetti’s analysis would be $5,065 per yr before the increase and $6,025 after.  I am assuming insurance would run approximately $900/yr.  So the total annual residential expenditures would be $25,681 and $26,641, respectively.  This would mean that the borrower would be required to have a gross income of $91,718 and $95,146, respectively, based on a front end debt ratio of 28%.  Notice that the income required jumps $3,428 or 3.7% because of the proposed increase in property tax.  This means that fewer potential buyer/borrowers will qualify and will either be unable to finalize the purchase or be required to put more money down.  Given that the median income in City-Data for median households with mortgages and apartment or rental households without mortgages is $74,824 and $44,788, respectively (Here), then such a tax increase will shrink an already small pool of potential home buyers who must rely upon financing to qualify. 

In a State already struggling with higher unemployment than that of the nation and with those employed concerned about their financial future, this measure will increase obstacles to those struggling to stay in their homes, to investors assuming risk to acquire investment property, and to prospective homeowners to buy. The Measures are badly mistimed and are a formula destined to inflict further damage to an already weak and falling real estate market.

Tell ’em where you saw it. Http://www.victoriataft.com

Teachers Union, Developers, PTA’s Spend $ on Ads for PPS Bond/Levy That Have Unintended Consequences

“This is the boiler that caught on fire.”

They make the leadership of the school district look like dimwits who don’t know you shouldn’t have dripping water next to open electrical wires. Someone should be arrested for that. Instead of blowing up this school which appears to be quite run down, perhaps they should close it and save us some money. Gee, where’s Randy’s HIT squad when you need them? (See the commercials and who’s paying for them below)


Tiles that Fell from Ceiling

Another thought: if they just want to ‘fix’ these problems then why don’t they ‘fix’ these problems instead of rebuilding 8-9 schools to LEDS platinum status which adds 20% to the cost? Add to that the no bid contract adding approximately another 20% to the cost (according to a developer familiar with the process) and you’ve got another school boondoggle. 

I thought M 66 & 67 were supposed to fix all this stuff. No wait, it was the income tax surcharge that was supposed to fix this. No wait it was the levy that was supposed to fix this. New leadership, closing schools, and trimming the sails of the teachers unions  –and their new raise– may give us a shot at fixing it. Don’t hold your breath. It’s the unions world and we’re just living in it–and working for them.
H/T Willamette Week: 
Here’s another one. That kid at the end sure is cute. I wonder whose kid she is?


And who’s heading up the campaign? Hey, isn’t Kevin Neely the old spokesman for the AG’s office? And look at the other government employees heading this up. Verrrry interesing (here). They’ve received about a million dollars. Wow, the teachers union must have alot of money. Oh, that’s right, the teachers just got a raise in the secret negotiations with the district which they were forced to reveal to the public at the last possible moment.

Here are the rest of the contributors so far.

Tell ’em where you saw it. Http://www.victoriataft.com

Cali GOP Idiot Forwards Racist Email Reinforces Lies About GOP

Don’t send me racist email, either. Here. I’m glad the GOP immediately denounced it, but this never should have been forwarded. It’s just offensive.Sensitivities are acute right now because of the racist tauntings at black, gay and young Tea Party members by leftist goons over the weekend. We really don’t need to forward stupid stuff and show even a vestige of a possibility of a scintilla of racial insensitivity. Let the “tolerant” left do that. They’re great at it.

Tell ’em where you saw it. Http://www.victoriataft.com

Suppose They Throw A Revolution, And No One Comes

UPDATE: One news report showing in Jacksonville. Doesn’t look like much a “revolution” so far

Racial supremacists groups are known to make noise and have never accomplished anything but bringing harm to others. Black, White, Hispanic, doesn’t matter what they are, they advocate racial purity pitting race against race.

During times of economic strife is when they seem to make the most noise, always blaming others for problems within their community that not only did they cause, but ignore all the answers to solving those problems. The Ku Klux Klan blamed Blacks for strife in the South for decades instead of pulling together with Blacks, Jews and others to improve conditions there.

Now we see another supremacist group, the New Black Panthers calling for a Revolution worldwide to be kicked off this Saturday, April 23, 2011 in 60 cities.

“National Day of Action and Unity”


From the webpage set up, it is said they are

“supported by Students and Youth, members of many of Black Church, the New Black Panther Party, Nation of Islam, National Black United Front, National Action Network, Moorish Science Temple of America, Rainbow Push Coalition.”

No Pacific Northwest cities are amongst the list of 60 yet. The webpage also claims,

“To the Authorities, don’t worry about who is organizing it. This is organized by the people and for the people. This is organized by a new younger leadership un-approved by our former slave or colonial master. We are grassroots activists, youths, residents, union members, community residents, spiritual people, revolutionaries and freedom fighters who have decided to take a stand together April 23rd. The call of Dr. Malik Zulu Shabazz has resonated with the disillusioned all over the earth.”

“April 23rd, 2011 we are taking vigilantly to the streets, police stations, projects, courthouses, State Capitols, houses of racists, morgues, jails and anywhere our people can be found and the fight can be found for justice! We will rattle the enemy and those who are asleep to show and prove the world we are wide-awake!”

“Our demands are immediate and non-negotiable.”

Stirring hatred of others because of their skin color or cultural ancestry backfired on the Klan in time. Their hate filled rhetoric brought much harm not only on to Black People, but Whites as well. They were marginalized decades ago, but the effects of their hatred are still fresh in the minds of people of all races who realize the answer is pulling together, just as Blacks and Whites did in the aftermath of 1900 Galveston Hurricane.

Dr. Martin Luther King Jr. called for unity, mutual acceptance and the “day on the red hills of Georgia the sons of former slaves and the sons of former slave owners will be able to sit down together at the table of brotherhood.”

Bill Cosby, comedian, entertainer and a highly educated man laid it out well showing that the problem isn’t skin color, it’s the ill behavior of people, all races, all colors creating the problems.

You cannot continue to blame others for problems you created yourself.

Islam is said to be one fifth of the world’s population and has amassed great wealth as can be seen in so many Mosques all over the globe. Yet, they have some of the poorest underfed people in the world.

That is not the fault of Christianity, it is the greed and mismanagement of those controlling Islam.

They call for the redistribution of wealth, yet they cling to their own.

The New Black Panthers state, “we are wide-awake!”

Are they really?

Or are they just trying to use you to further their supremacist claims and take more of what you have for themselves?

Tell ’em where you saw it. Http://www.victoriataft.com

SEIU: And Now Your Banner Must Fall

And Now Your Banner Must Fall, SEIU

I like Target. SEIU apparently does not. Let’s see, why would that be? Oh, yeah, they’re not union. Is there a law against disrupting someone’s business with bad aerobic routines? Where are the anti bullying advocates now? I say to those members of the SEIU dance crew: “And now your banner must fall!”

Tell ’em where you saw it. Http://www.victoriataft.com

Teachers Union, Developers, PTA’s Spend $ on Ads for PPS Bond/Levy That Have Unintended Consequences

“This is the boiler that caught on fire.”

They make the leadership of the school district look like dimwits who don’t know you shouldn’t have dripping water next to open electrical wires. Someone should be arrested for that. Instead of blowing up this school which appears to be quite run down, perhaps they should close it and save us some money. Gee, where’s Randy’s HIT squad when you need them? (See the commercials and who’s paying for them below)


Tiles that Fell from Ceiling

Another thought: if they just want to ‘fix’ these problems then why don’t they ‘fix’ these problems instead of rebuilding 8-9 schools to LEDS platinum status which adds 20% to the cost? Add to that the no bid contract adding approximately another 20% to the cost (according to a developer familiar with the process) and you’ve got another school boondoggle. 

I thought M 66 & 67 were supposed to fix all this stuff. No wait, it was the income tax surcharge that was supposed to fix this. No wait it was the levy that was supposed to fix this. New leadership, closing schools, and trimming the sails of the teachers unions  –and their new raise– may give us a shot at fixing it. Don’t hold your breath. It’s the unions world and we’re just living in it–and working for them.
H/T Willamette Week: 
Here’s another one. That kid at the end sure is cute. I wonder whose kid she is?


And who’s heading up the campaign? Hey, isn’t Kevin Neely the old spokesman for the AG’s office? And look at the other government employees heading this up. Verrrry interesing (here). They’ve received about a million dollars. Wow, the teachers union must have alot of money. Oh, that’s right, the teachers just got a raise in the secret negotiations with the district which they were forced to reveal to the public at the last possible moment.

Here are the rest of the contributors so far.

Tell ’em where you saw it. Http://www.victoriataft.com

Pete the Banker on PPS Bond and Levy: Impeding a Housing Recovery

Housing sales are falling nationally as well as locally.   Oregon is among the most distressed markets in the nation with Portland area housing prices declining 5.4% in February, making it the third worst major market in the country tracked by Core Logic.    Standard and Poor’s reports that Portland has over a four year inventory of homes.  Here.  
It is under this distressed real estate market scenario that backers are asking Portlanders to pass a Bond Measure 26 -121 to raise $548 Million, which will raise real property taxes by $2/$1,000 of assessed value for the restoration/reconstruction of several Portland area schools together with Measure 26 -122 an operating levy seeking to raise an additional $.74/$1,000 over the existing levy. (here).

Looking at the real estate market there are currently three types of sales.  They include all cash primarily investor deals, distressed sales (foreclosures, short sales) and purchases dependent on financing.  Each account for ~1/3rd of the overall sales volume, although in recent months distressed sales volume has been somewhat higher and purchases dependent on financing some what less. 
In the case of each of these transaction types, this significant tax increase is likely to depress sales activity.  An investor acquiring property is looking for a return on his or her investment.  Generally, they will complete and analysis of the potential acquisition property by looking at the total revenue generated by the property, reduced by the property expenses to derive a net operating income.  This income figure is then divided by the expected rate of return (or capitalization rate) to establish a value which is the maximum amount the investor would be willing to pay.  Using Leonetti’s figure for tax increases on a median home of $960, and assuming no other changes in revenue, expense or expected rate of return (I’m using 8%), the increase in taxes would reduce price or value a potential investor would be willing to pay by ~$11,500 or another 3.3%. 
In the second case of a distressed sale, it is hard to make a case that a tax increase would help an already delinquent or struggling borrower.  In essence it may become the final “straw on the camels” back so to speak.  And foreclosure or distressed sales are generally at prices well below existing market prices for comparable homes, further depressing the market prices for other residences on the market.
In the final case of homes purchase contingent on financing, an increase in taxes of the magnitude suggested will adversely impact the ability of borrowers to qualify for the loan.  Generally, residential mortgage lenders consider the front end debt load ratio when qualifying a potential borrower meaning that the borrower’s potential housing expense including mortgage payment, taxes and insurance is compared to their income.  Recently, regulators are considering enacting a limit of 28% of these expenses to the borrower’s income for qualifying mortgages, although this hasn’t been finalized yet.  (Here) Obviously, if taxes are to increase by $960 in order to qualify a potential borrower’s income must also be higher, all other things staying the same to qualify. 

Assuming a purchase of $350,000 or a median home currently (Here), the potential borrowers seeking a 90% loan (currently regulators and Congress are debating an 80% loan to value maximum, although it is likely this will be negotiated higher) then the following analysis would back into the necessary income to obtain a qualified residential mortgage through Fannie, Freddie or the FHA.  The loan applied for would be $315,000 at a currently offered interest rate of ~4.75% on a 30 yr term.  The Principal and Interest Payments would be $1,643/mo or $19,716/yr.  Taxes based upon Leonetti’s analysis would be $5,065 per yr before the increase and $6,025 after.  I am assuming insurance would run approximately $900/yr.  So the total annual residential expenditures would be $25,681 and $26,641, respectively.  This would mean that the borrower would be required to have a gross income of $91,718 and $95,146, respectively, based on a front end debt ratio of 28%.  Notice that the income required jumps $3,428 or 3.7% because of the proposed increase in property tax.  This means that fewer potential buyer/borrowers will qualify and will either be unable to finalize the purchase or be required to put more money down.  Given that the median income in City-Data for median households with mortgages and apartment or rental households without mortgages is $74,824 and $44,788, respectively (Here), then such a tax increase will shrink an already small pool of potential home buyers who must rely upon financing to qualify. 

In a State already struggling with higher unemployment than that of the nation and with those employed concerned about their financial future, this measure will increase obstacles to those struggling to stay in their homes, to investors assuming risk to acquire investment property, and to prospective homeowners to buy. The Measures are badly mistimed and are a formula destined to inflict further damage to an already weak and falling real estate market.

Tell ’em where you saw it. Http://www.victoriataft.com

Cali GOP Idiot Forwards Racist Email Reinforces Lies About GOP

Don’t send me racist email, either. Here. I’m glad the GOP immediately denounced it, but this never should have been forwarded. It’s just offensive.Sensitivities are acute right now because of the racist tauntings at black, gay and young Tea Party members by leftist goons over the weekend. We really don’t need to forward stupid stuff and show even a vestige of a possibility of a scintilla of racial insensitivity. Let the “tolerant” left do that. They’re great at it.

Tell ’em where you saw it. Http://www.victoriataft.com

Lake Oswego Council Okay’s Streetcar

LAKE OSWEGO, Ore. — The Lake Oswego City Council voted 4-3 Tuesday to endorse a streetcar extension from Portland to their city.

It was another heated meeting in the city council chambers. At one point, Mayor Jack Hoffman called for a break because people in the audience were booing the council.

Porltand’s streetcar has a line operating between Northwest 23rd Avenue and the South Waterfront District. The proposed extension would create a line from the South Waterfront to Lake Oswego, running alongside the Willamette River. The streetcar would dead end at what is now an Albertson’s parking lot off of South State Street.

With a price tag of $458 million, the biggest concern for those against the project is money.

Read the rest at KPTV 12

Did they listen to citizens? Is it wise to go ahead with a project there is no money for?

Tell ’em where you saw it. Http://www.victoriataft.com