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January 30th, 2009 12:16 AM

Dear Friends,

Where does one begin?

The grief, pain and suffering continues unabated as over 71,000 jobs were lost on 'Black Monday'. Pink slips were handed out by such diverse companies as Home Depot, Caterpillar and Sprint among others. So far this year, there has been over 200,000 job losses. For the entire year of 2008, 2,600,000 Americans lost their jobs. These staggering figures are truly disturbing to any observer and is a devastating reality for those unable to provide for their families.

The economy we are witnessing today is being compared to the troubles during the Great Depression and to the late 1970's and early 1980's where double digit inflation was prevalent. While the severity of these events are noted as comparisons to America's current financial strife, we need to be reminded the contrast is at times perplexing. I do not consider myself an economist, but in reviewing the characteristics and the histories of these financial fluctuations it is best to say we are entering an 'unchartered territory'.

The main premise of a 'stimulus' package is to spend as much money as quickly as possible to 'jumpstart' a weak economy. This money provided by government intervention is to be pinpointed towards specific sectors of the economy in order to generate job growth. Presumably, infrastructure repairs of bridges, roads and highways  throughout the country is considered an example where these funds are to be allocated to meet employment goals. Moreover, the lowering of taxes for all Americans helps generate additional monies for one to spend. These additional funds can be used to purchase household goods or services which provides demand, thereby helping the economy in the long run. Tax cuts for business owners provides incentives to hire more workers. The consumer and the entrepreneur are pivotal players in a free market system. Incentives for job growth is enhanced when tax cuts are implemented by an intelligent, methodical approach where employment is the ultimate goal. This is basic Economics 101. Unfortunately, our Congressional lawmakers are ill equipped to understand such simple concepts. 

While gently reviewing the stimulus bill passed by the US House on Wednesday, the American people are yet again victims of a relenting and sardonic ritual by Congressional lawmakers, where the approval to spend $819 Billion, lacks basic measures required to help solve the chronic effects of a deep and sustaining Recession. It is frustrating to note a tremendous percentage of the funds approved for this 'stimulus bill' is not being used for job growth at all.

All House Republicans voted against this measure. While the bill did allow tax cuts, there was a predominant amount of 'pork barrel' spending which will do nothing to create jobs in the long run. The Congressional Budget Office mentioned there were several items in the Bill which will not take effect until the latter half of next year! Congress is spending money that we do not have for things we do not need. When will these people ever learn?

Life Has No Meaning - It Provides Economic Stimulus

In an interview with ABC NEWS last Sunday, House Speaker Pelosi suggested the use of contraception and monies allocated for Planned Parenthood for birth control, is a worthwhile venture as abortions provide a 'stimulus' to the economy. Presumably by having less births, health care costs can be reduced to a minimum.  After an outcry by Americans, this endeavor is no longer in the Bill just approved by Congress.

In the same vain, within the past week, the new President signed an executive order lifting restrictions on federal funds being used to perform and promote abortion in foreign countries. Americans are now inadvertently supporting the demise of human life through our tax dollars. The preponderance of incredulity continues as we are now becoming aware the President is eager to sign into law the Freedom Of Choice Act (FOCA), where this measure would eliminate all restrictions on abortion nationwide.

Above all else, human life is precious and sacrosanct. To believe and hold our trust in government officials willing and taking pleasure in the destruction of life by executive orders, legislation or statutes, is the penultimate measure of contempt to the values, the substance and the soul of our Founding Fathers, ourselves and in due course, our Creator.

The Inauguration of President Obama as I mentioned last week was truly an historic event. Racial barriers are now broken and many Americans are proud and delighted to have a man of color at the helm of government. Unfortunately, I am troubled and disheartened at the executive orders and decisions placed in motion which will eventually hamper his ability to govern.

It is sad to say that reciting the oath of office by holding the Bible once owned by the 16th President, does not instantly transfer the respect, the virtues, the substance of character, the humility, the embrace of moral values nor wisdom associated by the much beloved Lincoln. All attributes of great men are measured by the vicissitudes of one's life and by the hand of Divine guidance. The time will come where inclinations, the exigencies of personality and the true character of the 44th President will see the light of day.

The 'unchartered territory' has now begun.


Mortgage Rates

Rates are still considered competitive this week, however we are seeing an uptick in interest rates.

30 Year Fixed Rates are @ 5.00% 

15 Year Fixed Rates are @ 4.875% 

Both Rates are @ 1 Point charge. Please check our RATES section for additional loan programs.

Previous Clients

We will be calling all of our previous clients beginning on Monday, February 2nd during the hours of 6PM until 8:30PM weekdays until Tuesday, February 10th. MoneyTeam will be offering splendid incentives if you are seeking to refinance your home. I hope to speak with you soon!

Loan Modifications

We are eager to help you overcome problems you may have with your mortgage. Fees associated with the services provided are refundable if we are unable to help you. Loan modifications can be time consuming and results do take time. However, we are confident of success per our previous experiences. Our office is sending up to 1000 flyers during the next 2 weeks. If you receive our mailer, you are eligible for a discount. Please check our website for more information.

Thanks Again




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Posted by Jesse Dorado on January 30th, 2009 12:16 AMPost a Comment

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