Tag Archives: Government

News

Deutsche Bank says 48% of mortgage balances will exceed home values in 2011

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Story from Yahoo News. (H/T ECM)

Excerpt:

NEW YORK (Reuters) – The percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March, portending another blow to the housing market, Deutsche Bank said on Wednesday.

[…]Covering 100 U.S. metropolitan areas, Deutsche Bank in June forecast home prices would fall 14 percent through the first quarter of 2011, for a total drop of 41.7 percent.

[…]Homeowners with the riskiest mortgages taken out during the housing boom have seen the greatest erosion in equity, in part because they were “affordability products” originated at the housing peak, Deutsche said. They include subprime loans, of which 69 percent will be underwater in 2011, up from 50 percent in March, Deutsche said,

Of option adjustable-rate mortgages — which cut payments by allowing principal balances to rise — 89 percent will be underwater in 2011, up from 77 percent, the report said.

Regions suffering the worst negative equity are areas in California, Florida, Arizona, Nevada, Ohio, Michigan, Illinois, Wisconsin, Massachusetts and West Virginia. Las Vegas and parts of Florida and California will see 90 percent or more of their loans underwater by 2011, it added.

Socialism destroys economic growth. There is no way around it.

Commentary

Head NIH bioethicist supports health care rationing by age and quality of life

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In another article from Secondhand Smoke sent to me by ECM, Wesley J. Smith writes about Ezekiel Emanuel, Obama’s chief bioethicist at the NIH. It turns out that Emanuel has written about rationing health care based on age (at least in some cases) and quality of life.

Here are Emanuel’s own words:

Unlike allocation by sex or race, allocation by age is not invidious discrimination; every person lives through different life stages rather than being a single age. Even if 25-year-olds receive priority over 65-year-olds, everyone who is 65 years now was previously 25 years. Treating 65-yearolds differently because of stereotypes or falsehoods would be ageist; treating them differently because they have already had more life-years is not.

And he also wrote:

This civic republican or deliberative democratic conception of the good provides both procedural and substantive insights for developing a just allocation of health care resources. Procedurally, it suggests the need for public forums to deliberate about which health services should be considered basic and should be socially guaranteed. Substantively, it suggests services that promote the continuation of the polity-those that ensure healthy future generations, ensure development of practical reasoning skills, and ensure full and active participation by citizens in public deliberations-are to be socially guaranteed as basic. Conversely, services provided to individuals who are irreversibly prevented from being or becoming participating citizens are not basic and should not be guaranteed. An obvious example is not guaranteeing health services to patients with dementia.

I think we need to be careful about electing people who want to make all our decisions for us.

News

Science czar says trees should be able to sue and born babies are not human beings

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Here’s the story from CNSNews. (H/T Secondhand Smoke via ECM)

Excerpt:

The idea has been endorsed by John P. Holdren, the man who now advises President Barack Obama on science and technology issues. Giving “natural objects” — like trees — standing to sue in a court of law would have a “most salubrious” effect on the environment, Holdren wrote the 1970s. “One change in (legal) notions that would have a most salubrious effect on the quality of the environment has been proposed by law professor Christopher D. Stone in his celebrated monograph, ‘Should Trees Have Standing?’” Holdren said in a 1977 book that he co-wrote with Paul R. Ehrlich and Anne H. Ehrlich. “In that tightly reasoned essay, Stone points out the obvious advantages of giving natural objects standing, just as such inanimate objects as corporations, trusts, and ships are now held to have legal rights and duties,” Holdren added.

And also:

“The fetus, given the opportunity to develop properly before birth, and given the essential early socializing experiences and sufficient nourishing food during the crucial early years after birth, will ultimately develop into a human being,” John P. Holdren, director of the White House Office of Science and Technology Policy, wrote in “Human Ecology: Problems and Solutions.”

I wonder which of Obama’s advisers is the most insane?

From the Secondhand Smoke article:

Just when you thought that the high advisers to President Obama couldn’t get any more radical. Consider: Cass Sunstein, his nominated regulations czar, wants animals to be able to sue their owners and has asserted that the lives of elderly people should be given less value in government regulatory cost/benefit determinations.  Ezekiel Emanuel, a high health care adviser, wants to ration health care based on quality of life (and perhaps against the elderly) and has asserted we all have a moral obligation to be experimented on.

I wrote before about how environmentalists banned DDT in Africa, causing 25-50 million innocent deaths. And I also profiled the murderous views of leading environmentalists, including the radical views of Obama’s pick for Science Czar. And don’t forget – they kill 1 million unborn babies per year in the USA alone – 50 million since abortion was legalized in 1973.

Secularism is not a nice worldview.