But Who's Bailing Out the Wall Street Protestors?

H/t Bruce Majors and Trish DeBroeck on Facebook:

Herman Cain Flip Flops on Fed Audit, Bailout

H/t Gigi Bowman on Facebook.

Sentor Bonacic Supports Unaffordable-to-the-Taxpayer "Affordable" Housing

H/t Patriot246

Wurtsboro – Construction has barely begun at the Horizons at Wurtsboro senior citizen housing complex, yet there is a waiting list of applicants far beyond the 49 apartments that will be available.
Officials from Regan Development, the Village of Wurtsboro, Town of Mamakating and the state ceremonially broke ground Friday to herald the start of the first affordable senior housing in the area. Senator John Bonacic said this type of housing is in great demand. “The need for affordable housing is insatiable; when we’re done with this project we could do 100 more, and there still would be a need,” he said. The project will include 42 one-bedroom apartments and six two-bedroom facilities. All will be rented at below market rents because of public financing from the New York State Housing Trust Fund and federal tax credits from the state Division of Housing and Community Renewal. Private equity financing and construction and permanent financing were also involved.

The company is currenlty accepting applications for the next 30 days. Interested persons may call them at (914) 693-3011 for brochures and applications.

My response:

Dear Senator Bonacic:

I am sick of big government Republicans backing corrupt backroom deals like the Regan Development "affordable" housing projects in Wurtsboro and Saugerties.  The projects may be affordable to your rich cronies at Regan Development but they are not affordable to the taxpayers whom you have molested.

I am a registered Republican, but I will be backing (both financially and with my time) your opponent in the next election. The reason is that the only thing worse than a Democrat is a big government Republican who lies to the Republican Committee and says he favors small government while, at the same time, supporting taxpayer-exploiting housing developments that run moderate income homeowners out.

Sincerely,

Mitchell Langbert, Ph.D.

Is It Time to Buy More Gold?

Lucianne.com carries a Bloomberg piece (h/t Kitco) saying that professional investors are boosting their gold positions.  Maybe it's time to add to my position.  It's difficult after a period of loss to bravely attempt to time markets, but why not buy during a sale?  Of course, the same argument could be made with respect to the housing market.  A friend told me that a house that had been listed for $400,000 in the Town of Olive, where I live, was recently sold at auction for $130,000.  Will there be further declines, or is this the bottom?  When I bought my house in 1997 Olive was called "low-tax-Olive."  Because of incompetent Town negotiations with the City of New York, which pays much of the Town's taxes via its largest reservoir, the Ashokan, our taxes have signficantly escalated. So buying property on speculation is risky, which will contribute to plunging real estate prices.