Victorville model homes being demolished.BREAKING NEWS Developing: Another bank will begin the tear down of 20 Temecula homes in Southern California.NEW HOMES DEMOLISHEDBy Patrick Thatcher, staff writer for, Daily PressVictorville- The housing collapse is taking a literal form for one bankrupt housing development. Four model homes and 12 nearly finished spec homes at Bear Valley Road and Highway 395 are being demolished.The developer filed bankruptcy about 18 months ago and the foreclosed property went to Guaranty Bank in Irvine.A Guaranty Bank official, Real Estate Officer Dean Smith, said they were facing daily fines from the city of Victorville if they didnt do something with the homes and property that not up to code. He said it was a choice of pumping their own money into property site improvements and additional money to bring the home up to code or tear down the 16 homes.Smith said the bank is not in the building or land development business and because of the current housing market does not see anything happening with the property for at least five years.Our only option is to either proceed with putting more than a million bucks into the land, which weve already taken a huge hit on and lost a lot of money, or, we tear down the houses, Smith said.He said the builder put up the homes before completing the site improvements and failed to have enough money to finish roads, walls, and other improvements that bring the community into code.Everything just fell apart at that point and we cant sell homes that are not up to code, Smith said.He said the city of Victorville fined the bank once because the home are out of code and would have faced daily fines if Guaranty didnt do something with the vacant houses. There are still substantial dollars that need to be put into the land before the city of Victorville will give certificates of occupancy on the houses and the bank isnt willing to put forward that amount of money, Smith said.He said the homes are a liability to Guaranty and that all of them are heavily vandalized inside and out with broken glass everywhere.Our projections are that those houses would sit the way they are for at least five years, what would they be worth then? Smith said.He said once the homes are demolished the property will be put on the market again. Calls to the developer were not returned.Patrick Thatcher may be reached at 760-951-6227 or at pthatcher@VVDailyPressVideo 1com/watch?v=qvrc7x...Video 2com/watch?v=COy1Yy... Bank Bailout Funds Hard At Work Part 3Video 3com/watch?v=B0vDkw...video 4com/watch?v=JGwTyw... I want to give a SPECIAL thanks to Mike "Mish" Shedlock for helping me get this very disturbing housing story out to the public.globaleconomicanalysis.blogspo...

Peter Schiff Money bomb TODAY!!!!!!! 8/7/09Jobsnews.yahoo/s/ap/20090807/a... Food stamps hit another recordcom/feeds/reuters/2... Housing realitynews.yahoo/s/nm/20090805/b... Banks getting worsemoney.cnn/2009/08/05/news/... Another weekly recordcom/story/trea... Gunscom/printedition/... A rise in realitygr/ftcom_en/126/a... Alabama Jobscom/article/domest... -Related- National Guard callednews.yahoo/s/ap/20090804/a...Taxes plummetnews.yahoo/s/ap/us_plummet... OIL BULLS, GET READY!co.uk/news/sci...Wall St Journal storyVICTORIOUS!After 3 months of being blown off by the Wall St Journal. VisionVictory viewers were able to resolve the Wall St Journal default in less than 5 hours. I have received confirmation that a FedEx delivery is being sent and I will receive the check on Tuesday.The info for the Wall St Journal is being removed. Thank you for the support and help, the money you were able to retrieve will be donated to the campaign for liberty. By the way, they had to disconnect one of the numbers we posted on this site. The People lashed out, this is the American way, now lets focus our energy on the bloated Federal Government.

In this video Peter says that 2008 was the worst year "ever" for stocks, but he thinks that they will be headed a lot lower in 2009, 2010, and 2011. He says that everything that Obama has promised is going to be destructive to the entire U.S. economy. In regards to Bernanke being a "student of the Great Depression," Peter says, "if he were my student, I would have flunked him." Peter then talks extensively about the Great Depression and how it was the government that created the depression.net

James Beeland Rogers, Jr. (b. October 19, 1942, Wetumpka, Alabama) is a co-founder, along with George Soros, of the Quantum Fund. He is a college professor, author, world traveler, economic commentator, and creator of the Rogers International Commodities Index (RICI).9/17/2007

What's next? I'll tell you what's next...The housing bill. The government has come up with a great idea to solve the mortgage crisis.Wanna know what it is?They are going to take money from YOU, the responsible citizen and give it to irresponsible companies like Fannie Mae and Freddie Mac. In order to make them more successful. In order to make them more money.They are going to take money from YOU the responsible citizen and give it to irresponsible citizens and some non-citizens. Who took out mortgages to buy house they KNEW they couldn't afford.Are you freaking kidding me?! What kind of logic is this? How do you explain this to a kid these days, if you're his father? or if you're his freaking teacher? Ah. Miss Crabtree, how do I become a responsible citizen these days? Well Johnny, you go to work. You make money. You pay your bills. and you live within your means.Meanwhile Johnny goes home and sees his neighbor sitting on his lawn at 2 o'clock in the afternoon, drinking beer out of a freaking wine bottle. He's got a brand new car in the driveway and a beautiful wife upstairs.Now, Johnny knows that his father is working 2 jobs and not only to pay for his mortgage. But for his freaking neighbors mortgage too! And you expect Johnny to be a responsible citizen? Are you freaking kidding me?!!They shouldn't call this a housing bill. They should call it a degenerate bill. They should call it a freaking scumbag bill. Because that's what they're teaching kids to do with this bill. To not be responsible. To not pay you're bills. To not worry about anything. And when the freaking world comes crashing in on you. Don't worry! The government will be there to pick up the pieces.How will they pick up the pieces? By using the money of the person who was responsible. The guy who did the right thing. The guy who followed all the freaking rules!What a freaking country!!This is the way things have been going for the last 100 freaking years!I just have one question... When is it gonna freaking change?! When is it gonna change?!!!what's next! what's next!! what's next!!!

This episode was actually posted back in December 2006 but through some oversite it didn't make it to our YouTube Channel. With all the recent credit market woes back in the headlines again [the great credit crisis], it seemed especially apropos. Especially with all the subprime mess Apparently it's possible to extrapolate the current rate of the M3 money supply figures pretty accurately after all, even after the Fed decided to "de-emphasize" its role. Let's see what the current rates would have been expected to be, and what they suggest for the economy and the stock market... I also discuss the credit cycle and the effects of easy credit and leverage on the transfer of wealth.Notes/Extra Links/Transcript: com/vlog/moMONEY...For those interesting in learning more, you should also check out Aaron Russo's film (see com) - you can watch the movie here: video.google/videoplay?doc...Great MUST-READ article: "The Dow is Crashing" - com/fsu/edi...It's quite shocking how many young kids commented about why they should care about this. Here's my response:Why should a 14 year old be interested in the Federal Reserve??Because the Fed (NOT the government) controls the money supply - the value of the dollars in you and your family's pocket, which basically controls everything else... A 14 year old commented on my Fed Credit Cycle video about why he should care about this stuff and here is my response.This is exactly the type of video you SHOULD be watching if you want to understand how the world around you really works. You think you're going to learn this stuff in school? I understand you may be young, and while we have many videos that are entertaining for kids your age, we can only hope that some of these other videos will catch your attention as well and much better prepare you for the future. If you don't fully understand, ask your parents to watch, learn, and discuss it with you as well. Or, of course, you could end up having a different discussion in a few years when your family explains to you why they are not only broke, but in debt to the hilt and losing their house, and that car you were promised (and possibly even a nice roof over your head) is simply out of the question...And for those of you who just don't believe it's possible, or that it couldn't happen to you, just google "housing bubble" or "housing collapse".And to our UK friends who think this doesn't affect them yet... how's this for SCARY - it's the next step in the US as well: en.wikipedia.org/wiki/British_...Honors for This Video:#66 - Most Viewed (Today) - News & Politics#16 - Top Rated (Today) - News & Politics#98 - Most Discussed (Today)#12 - Most Discussed (Today) - News & Politics#13 - Top Favorites (Today) - News & Politics

View the entire show at org/wnet/expose/watch/... Watch this preview of "Money for Nothing" Exposé: America's Investigative Reports, on PBS. With the Miami real estate market booming, why were some residents being left out in the cold? With an innovative tax on commercial real estate transactions, money was flowing into the Miami-Dade Housing Agency, the body charged with building affordable housing. But there was a problem: a lot of money was going out, but not a lot of houses were being built. Reporter Debbie Cenziper of THE MIAMI HERALD goes inside the agency's own incomplete records, fills in the gaps, and connects the dots -- exposing mismanagement and an insider's club where backs were scratched and palms were greased. And watch the full episode when it premieres online, Wednesday, July 25, at 12 noon ET. (Or check your local listings for broadcast dates on PBS nationwide, beginning Friday, July 27.) For web-exclusive video and audio features, and to stream other episodes in the series, go to org/expose

How Greedy Corporations Destroy the American Dream -- a short documentary that shows the foreclosure crisis affects everyone. Mo' Money tells the story of borrowers who were lied to and ignored by their mortgage loan servicers, and the people who are working to keep them in their homes. It also reveals how this disaster could have been avoided if regulators and government officials did not ignore predatory lending practices.

James Beeland Rogers, Jr. (b. October 19, 1942, Wetumpka, Alabama) is a co-founder, along with George Soros, of the Quantum Fund. He is a college professor, author, world traveler, economic commentator, and creator of the Rogers International Commodities Index (RICI).9/17/2007

Get ready for the price of gold to soar after this type of story in mainstream! John Williams discusses a coming financial depression. Many financial experts outside of mainstream has spoken about an economic collapse for years; such as Bob Chapman from theinternationalforecaster/DISCLAIMER: RedPill4u does not own this video footage, it belongs to their respective owners under the Fair Use policy and terms.The percentage of elected officials saying their community has experienced the following over the past year:Increase in foreclosures: 62%Increase in need for temporary assistance: 53%Decrease in city revenue: 33%Increase in abandoned/vacant properties: 33%Increase in homelessness: 22%Source: National League of Cities' Insta-Poll of 1,240 local officials, based on 211 responsesIt will only get worse, but they've already have a plan for you. You'll be introduced to a regional currency 'Amero' then eventually a global currency. Hey, I'm not a prophet, I just read what they speak of. Sadly, many of you will fall to the deception because of your coming economic demise. Unfortunately, It shouldn't have come to this, but many of you are slaves to group blaming. (Republican vs. democrat, conservative vs. liberal, etc)The End of National Currencyorg/2007050...Washington Post: time to ditch the dollar for new currencycom/wp-dyn....The CFR, Robert Pastor and the NAUcom/...Problem, reaction then solution."Being ahead of the masses in your observations of economic trends is no way to win a popularity contest. If you're 30 days ahead of the masses, you're considered a genius; but if you're two years ahead, you're considered insane. It makes me wonder about the experiences of historical geniuses like Nikola Tesla, since they were at least a hundred years ahead in their understanding of science." -Mike AdamsPlease explore these articles:FDIC Girds For Bank Failures & The FDIC Will Seek to Rehire 25 of It's Own Retired Members, Many of Whom Specialized in Bank Closings.com/print/story/...com/apps/pb...Wall Street Bank Runcom/wp-dyn/...US Properties Plunge Into Negative Equity Than At Any Time Since The Great Depression Of The 30's co.uk/business/20...U.S. Credit Markets Collapsing!hosted.ap.org/dynamic/stories/...America's Economy Risks the Mother of All Meltdowns news.yahoo/s/ft/20080219/b...U.S. Mortgage Crisis Spreads Past Subprime Loans! com/articles/2008/02/1...Dozens of U.S. Banks Will Fail by 2010com/ottawacitizen/n...Wealthy Investor Jim Rogers Warns About Economy, 'It's Going To Be Much Worse' money.cnn/2008/01/30/news/...Crisis may make 1929 look a 'walk in the park'co.uk/money/main...World Economic Situation Serious - IMFnews.smh.au/world-economic...Full global impact phase of the Very Great US Depressioneu/GEAB-N-21-is-a..."If a nation values anything more than freedom, it will lose its freedom; and the irony of it is that if it is comfort or money that it values more, it will lose that too." -Somerset MaughamDerivatives the new 'ticking bomb'com/news/story...