The crisis related to the mortgage industry or more importantly related to so many home owners is going to impact politics more than we might think.

We have yet to see the real impacts of a serious tightening in credit and a significant down-turn in housing prices. Until now, many sellers and home builders have held somewhat steady on price, preferring to hold on for a better deal rather than sell at a significant discount. That is changing. And as the months go by and what seems like a whole generation of first-time home buyers realizes that they have lost 10%, 20% of their home values, they are going to get angry.

People usually look for someone to blame when they get angry. President Bush is a likely target, the Congress is another. ‘Someone should have done something.’ ‘Someone should have saved the family of four who bought a house with zero down with a mortgage that offered zero interest for 3 years and then adjusted upwards swiftly, from themselves.’ …they will say.

Beyond the blame game, the issue of home mortgages and a credit crunch will most certainly, in a bigger way than it already has, become part of… Read More

The crisis related to the mortgage industry or more importantly related to so many home owners is going to impact politics more than we might think.

We have yet to see the real impacts of a serious tightening in credit and a significant down-turn in housing prices. Until now, many sellers and home builders have held somewhat steady on price, preferring to hold on for a better deal rather than sell at a significant discount. That is changing. And as the months go by and what seems like a whole generation of first-time home buyers realizes that they have lost 10%, 20% of their home values, they are going to get angry.

People usually look for someone to blame when they get angry. President Bush is a likely target, the Congress is another. ‘Someone should have done something.’ ‘Someone should have saved the family of four who bought a house with zero down with a mortgage that offered zero interest for 3 years and then adjusted upwards swiftly, from themselves.’ …they will say.

**There is more – click the link**… Read More

Wilson Statue to Receive Regular Visitors… Out of the corner of my ear, Ipicked uplast night on the TV news something about Enrique Morones, self-anointed moral compass on all things racist, announcing he will conduct regular weekly protests of the Pete Wilson bronze statue unveiled last weekend in downtown San Diego. Since this non-news is just that, I won’t mention the station that chose to include it as such.

Let’s see, if Morones can educate 10 persons every Saturday as to Wilson’s racist tendencies, assuming no days off and no population growth whatsoever, he will have a majority of city denizens convinced by about year 3507. I guess the time spent is better for him than doing something constructive.

The bright side:For the next several decades, the PD will always have a first lead if anything happens to the statue. The big question: Would such vandalism be considered a hate crime?

If you missed my FlashReport Commentary of last Sunday, "A Pete Wilson Statue and Prop 187," read it… Read More

The latest from the man with the numbers in the drama of whether the end-run on term limits will make the February ballot… From CapWeekly’s Anthony York:

Just off the transom from the Doolittle for Congress campaign, in response to Assemblyman Ted Gaines opening an exploratory committee to look at a run against Doolittle in the upcoming GOP primary…: LOYALTY MATTERS By former State Senator and Assemblyman Tim Leslie As Benjamin Franklin said so well, so long ago, "a friend in need is a friend indeed". Our friend John Doolittle is under attack from the liberal left and now from those to whom he has shown true friendship. … Read More

This may be my favorite update yet from Anthony York over at Capitol Weekly… He has put his hands on a copy of an e-mail sent out by the Los Angeles County Registrar. The last paragraph is my favorite. As a hack for the unions, I am sure that Labor Day weekend is supposed to be like Christmas for Fabian Nunez. Yeah, not so much this weekend. He may have to spend it working on his resume…

From York:

It’s time for a new contest. Guess how much a pay raise Governor Schwarzenegger has given to his Chief of Staff, Democrat Susan Kennedy?

We’ve heard that Kennedy and a few other senior staffers have had Christmas come a little early.

UPDATE: Ace Governor’s Press Secretary Aaron McLear responded with a phone call within like two minutes of my email asking for specifics. He sent over the list. He wanted to stress to me (so I will share with you) that the total expenditures for staff salaries in the Governor’s office has not increased, apparently they are making due with less people, but paying them more. These ‘adjustments’ follow some increases received by Cabinet Secretaries in the Spring…. So, without any further suspence… The winners are…… Read More

Not to be cynical, but I am sure that the games are now beginning. Wouldn’t it be funny if some of the bigger more liberal counties suddenly "found" more qualified signatures?

Anthony York’s latest:

All 58 counties have reported their raw count for a total of 1,105,511 signatures. 55 counties have reported their random sample numbers for a total of 757,626 projected valid signatures. Needs 763,790 projected valid signatures to qualify by random sample. 4 counties that had previously reported their random sample numbers submitted amended reports today. So,… Read More