In Georgia, housing woes a long-term drag on economy

As we claw our way out of this recession, it’s easy to forget where it all started: housing. And while other parts of the economy have begun to recover and show signs of health, the housing situation is actually getting worse by some key standards. The Atlanta Federal Reserve has some interesting data and — oh goody! — charts to explain where we are at the moment.

For example, the number of American households who owe more on their mortgage than the house is worth — known as negative equity — continues to grow in many markets, including Georgia. In fact, in the fourth quarter of 2010, Georgia had the sixth highest rate of negative equity in the nation. Three out of 10 Georgia homeowners owed more in loans on their property than their property was worth, which is a remarkable number.

negative

In the metro Atlanta area, the ratio is even higher. More than one out of three homeowners in this market are “underwater” on their mortgage, making them prime candidates for eventual default or foreclosure. Those who do not default will experience long-term “houselock,” meaning they’re stuck in those homes because they’re unable to sell them for enough to pay off the mortgage. Every monthly mortgage payment they make is another payment in a bad investment, but they make them anyway because that investment is also a home.

That is not a problem that is going away soon, with “soon” defined as anytime in the next five or maybe 10 years. It will continue to be a drag on housing prices and on consumer spending. New-home construction — once the driving force in the metro Atlanta economy — will continue to be more of a boutique business than a thriving industry.

That’s what happens when a bubble pops. That’s what happens when the music stops. Sooner or later, things that are too good to be true always stop being true.

– Jay Bookman

895 comments Add your comment

Rightwing Troll

March 23rd, 2011
8:22 am

Damn Barney Frank!

stands for decibels

March 23rd, 2011
8:24 am

and — oh goody! — charts

I have to say, this is the ONLY online forum I’ve ever participated in, where people think it’s odd to present charts and graphs to make a point.

stands for decibels

March 23rd, 2011
8:27 am

That’s what happens when a bubble pops.
That’s what happens when the music stops.
Sooner or later, things that are too good to be true
always stop being true.

I’ve been re-acquainting myself with Hüsker Dü’s Zen Arcade double-lp of late, and I’d swear that coulda been one of the Side 3 lyrics I heard.

Jay

March 23rd, 2011
8:27 am

Well, that’s because charts imply actual data….

Mick

March 23rd, 2011
8:30 am

Yes, it’s going to be a long dry spell until all the inventory gets filled. I’d say about another 6 or 7 years. Florida might recover faster with more retiree’s and nasty weather continuing in the north.

stands for decibels

March 23rd, 2011
8:31 am

Well, that’s because charts imply actual data….

and data have a liberal bias, yeah, I know.

I do wonder what percentage of that 30% of Georgians are actually aware that their houses–yes, THEIRS, not the other guys’–are under water?

Obama

March 23rd, 2011
8:33 am

I’m too busy spreading Democracy to be dealing with housing, bubbles, and the economy! Like Ben Stiller said:
“Bomb bomb bomb bomb bomb bomb bomb bomb! Bomb bomb bomb bomb bomb bomb bomb bomb bomb! If I were in the army I’d be a BOMBbadeer! Bomb bomb bomb bomb bomb bomb bomb bomb…”

ConnedConsCon

March 23rd, 2011
8:34 am

Once again, Georgia has beat the national average. Yea, Georgia. Those Republicans in charge are really showing us how to help the economy and create jobs and reduce deficits and debts and all those good things that keep us healthy so we don’t need health insurance and smart so we can skip on the education. By the way, how many banks has Georgia lost now. A lot. And who suffers as a result. Not our Georgia Republicans that were out there opening new banks left and right so they could sell them off for a quick profit. The folks with savings accounts and checking accounts, average folks just looking to at least get a return that keeps pace with inflation, are the ones that suffer at the hands of the greedy Republicans. I see a couple of crooks got indicted down in Stockbridge for their activites at one of those failed banks. We need more of that. Crooks need to pay and Georgia does believe in maintaining a big jail system. Let’s get our money’s worth out of it.

carlosgvv

March 23rd, 2011
8:36 am

I suspect, as do many of you, that our economic “recovery” is nothing more than a house of cards. Negative equity is only one of the many issues laying in wait to de-rail any economic progress we may make.

Mick

March 23rd, 2011
8:37 am

Pretty funny how the cons here are comparing cruise missiles directed at libya with a months long buildup of a full scale ground and air attack on iraq. It’s kindergarten politics…go baby go…

Deep Throat

March 23rd, 2011
8:38 am

Obama, I hope you’ve had a good time in South America, partying and encouraging the Brazilians to drill for Oil. Oh and hows your picks coming, sure wish you’d focus on the issues at home that mean something, like the economy and jobs.

jt

March 23rd, 2011
8:39 am

The National Homeownership Strategy began in 1994 when Clinton directed HUD Secretary Henry Cisneros to come up with a plan, and Cisneros convened what HUD called a “historic meeting” of private and public housing-industry organizations in August 1994. The group eventually produced a plan, of which Mason sent me a PDF of Chapter 4, the one that argues for creative measures to promote homeownership.

Gollie gee, let us get the Federalies involved in Healthcare.

Mick

March 23rd, 2011
8:40 am

jt

Don’t forget the “ownership society”.

AmVet

March 23rd, 2011
8:43 am

And over here in Doraville, I’m singing ARS; “it ain’t much but it’s home.”

And I’m debt -free and not underwater.

The only silver lining to this economic meltdown was how it took so many clueless cons with it. But in their inimitable and ignorant way they’ll hold faultless the men with white collars who did it and allow them to do it, or something even more creative, again. As carlos noted, smoke and mirrors – it’s just a matter of time.

As John Lennon sang, “strange days indeed, most peculiar mama…

Obama

March 23rd, 2011
8:43 am

My picks are doing pretty well, Deep Throat. You can go here to see my bracket: http://games.espn.go.com/tcmen/en/entry?entryID=4267886

It’s not hard when you pick almost every single favorite to move on in the East and West Regions.

Mick

March 23rd, 2011
8:45 am

Congrats amvet – I didn’t get snookered into the heloc orgy either…

Deep Throat

March 23rd, 2011
8:47 am

Obama what are you doing to encourage job growth ?
I hear Walmart is hiring more greeters !

Joe the Plumber Too

March 23rd, 2011
8:50 am

Guess big brother shouldn’t have forced loans to people who couldn’t afford them. Yeah, I know the libtard answer is always that it was Wall Streets fault, but while they share the blame so does Freddie and Fannie. Oh well, at least some of us are still making money, even without using your precious illegal criminals to do it.

Obama

March 23rd, 2011
8:50 am

“Obama what are you doing to encourage job growth ?”

**slaps self on forhead**

With all the interviews on ESPN and bombing Libya, I knew I forgot something!! Thank goodness to didn’t ask me about spending cuts…..

AmVet

March 23rd, 2011
8:50 am

It’s not hard when you pick almost every single favorite to move on in the East and West.

Sounds like this was written by someone who has never picked the brackets in his life, otherwise he’d know better.

I’ve tried it all kinds of ways, and unless you follow college hoops VERY closely, there is simply too many variables. I’ve tried them all kinds of ways over the years and usually it comes down to little more than a gut feeling about the matchups.

And yes, smart money usually picks a lot of higher ranked seeds.

They must drool when they see you cons walk up in Vegas…

ConnedConsCon

March 23rd, 2011
8:50 am

Meanwhile, local governments struggle with their search for innovative techniques to con property owners into believing that their property is actually worth more so county commissioners can avoid the alternatives of a) trying to con the conned into believing that new fees are not the same as taxes, b) fee hikes are not the same as tax hikes, c) loans to pay for new government buildings do not have to be repaid with taxes, d) a food tax is not really a tax, e) selling more of, what do you mean your road is not being maintained to the highest standards of no more than one, one foot diameter pothole per one hundred feet, f) explaining how we have deemed your road to no longer be a county road so pay your property taxes and shut up or next we’ll come out and start taking back the gravel that we were kind enough to give you in the past, g) convincing the conned that the tolls booths entering and exiting the county have always been there and now we are ready to start utilizing them because it is what you voted for in the last election, didn’t you understand the wording in that referendum …

stands for decibels

March 23rd, 2011
8:51 am

Off topic: I learned today that it’s very important that our President never talk about sports, and that our President should never attend international summits.

We should really talk about that some more!

jm

March 23rd, 2011
8:53 am

A. This is why we must print money (said pinky the brain)
B. This is why the federal budget and entitlements are going to blow up in spectacular form unless stopped (”Sooner or later, things that are too good to be true always stop being true.”)

Obama

March 23rd, 2011
8:54 am

“that our President should never attend international summits.”

Not only did I attend, but I also went behind Congress’s back (sshhh don’t tell them I said that) and went to war with Libya. I good to be King…err…I mean President!

ConnedConsCon

March 23rd, 2011
8:54 am

Perhaps the best thing for Georgia’s Republican constituency is a 23% sales tax so they can feel like everyone is paying their fair share.

Deep Throat

March 23rd, 2011
8:55 am

Obama, I think I know why your old lady is proud of America now, she gets to travel all over the world and drink with heads of states in so many new places. What will you do if your travel budget must be cut ?

AmVet

March 23rd, 2011
8:55 am

Mick, good on you, brother. I always thought 2nd mortgages were a recipe for disaster.

When I fist got out of the service in the 70’s I was 21and started working for a large computer company. I watched from afar as whole bunch of older, established Big Bluers got canned and their worlds got turned into over-extended nightmares.

I swore I’d never be one of them. And didn’t.

And yes, making sound choices and sometimes doing without, very much factors into the outcome, but for the grace of god, there go you and I…

Soothsayer

March 23rd, 2011
8:56 am

“Florida might recover faster with more retiree’s and nasty weather continuing in the north.”

Over 20 percent of homes in Florida are vacant.

Obama

March 23rd, 2011
8:56 am

“What will you do if your travel budget must be cut ?”

GASP! I may have to have a “stay-cation” and spend my money somewhere in the United States!

WillieRae

March 23rd, 2011
8:56 am

It would be interesting to see Bookman’s chart against a chart that showed growth in hoursing values in the past ten years., Bet they are veryt nearly the inverse of each other. Bubble values went up. When the bubble popped, the values went down. People who came in the market becasue of cheap money ( which they complained about) easy credit and a no-lose investment thesis drove prices that were unsustainable.

the truth

March 23rd, 2011
8:57 am

guess freddie and fannie shouldnt have given homes to every welfare brood mare and baby mama out there.

jm

March 23rd, 2011
8:57 am

BTW, back, briefly to the bizarre topic I started yesterday. Obviously duels were legal until state laws gradually banned them (nuts). What I just want to know is what law comes before the first amendment and says you can’t kill someone if your religion dictates that you do (ala the wacky waco guy’s activities weren’t legal, even though it was part of their perverted religion). I have no doubt it exists either in precedent or a law, but I’m just curious which. I suspect I should be spending time on Lexis Nexis to solve this, and not a blog…..

Back to housing: Higher Down Payments and No Cash Out Refis anyone? Works in Canada, TX, etc.

jm

March 23rd, 2011
8:59 am

BTW folks – if you’re one of the 30% underwater, and you get a better job offer elsewhere and you need a job: Take the Job and Default on the Loan.

Its called strategic default. Business does it all the time, and if you have a better option, and you’re seriously underwater – default, move on, and start over, but take the new job!

ty webb

March 23rd, 2011
9:00 am

oh well…I guess as someone who’s about to put their home on the market, I’ll have to include the words “interesting trades considered” in the listing.

jm

March 23rd, 2011
9:03 am

All the doom and gloom notwithstanding, the housing construction industry is probably going to hit recovery mode in 2012. Even in over-leveraged Georgia.

larry

March 23rd, 2011
9:04 am

Its pretty hard to start over with a foreclosure on your credit history, hard to buy another house, get an apartment. So yeah, go ahead and let them foreclose on your property.

Deep Throat

March 23rd, 2011
9:04 am

Obama with all the BILLIONS of $ you have spent on stimulus packages, all these shovel ready projects, the illegal aliens are recovering fairly well . Have you driven by all these road projects, sidewalks to no where and seen all those illegals ?

jm

March 23rd, 2011
9:06 am

“New-home construction — once the driving force in the metro Atlanta economy — will continue to be more of a boutique business than a thriving industry.”

I would agree the industry will be smaller. But it will recover sooner than you think. Defaulted homes don’t compete with new construction. In addition, housing preferences and demographics change such that the old inventory does not meet new preferences. Ergo, housing construction will pick up sooner, and more than one thinks.

But if any former construction folks out there think we’ll be back in 2005 mode anytime soon, they’re definitely mistaken.

Time to go get an IT or Engineering degree. :)

Quick

March 23rd, 2011
9:06 am

Dalton. No house buying or building … no carpet needed. The Carpetland Depression continues unabated.

jm

March 23rd, 2011
9:08 am

larry 9:04 – renting an apartment with a foreclosure on your credit report is no longer a problem. Buying a new house – yes, of course that is not possible (for 6 or 7 years). But if you can’t feed yourself, having a roof over your head is of little relevance.

A job is far more important than owning a house.

Redneck Convert (R--and proud of it)

March 23rd, 2011
9:08 am

Well, I got one word for all you folks that are under water: trailers.

You can’t hardly go under water on them and if you get tired of where you live you can just put the wheels on your home and move someplace else. And if you decide to sell you can just move the thing to whatever community people want to buy in. Bad schools? No problem. Just move your trailer to a town with good schools. Somebody put up a eyesore next door? Just haul your house somewhere there’s no eyesore.

You use to laugh at us people in trailers. Well, who’s laughing now?

Have a good day everybody.

Obama

March 23rd, 2011
9:10 am

Obama with all the BILLIONS of $ you have spent on stimulus packages, all these shovel ready projects, the undocumented Democrats are recovering fairly well . Have you driven by all these road projects, sidewalks to no where and seen all those undocumented Democrats?

Fixed your typo for ya.

WOW

March 23rd, 2011
9:11 am

“As we claw our way out of this recession, it’s easy to forget where it all started: housing.”

But….but……the left says it was Wall Street and evil Bush who caused the recession.

“Sooner or later, things that are too good to be true always stop being true.”

Sums up the lefts 2008 description of Obama.

DebbieDoRight

March 23rd, 2011
9:11 am

jt: The National Homeownership Strategy began in 1994 when Clinton directed HUD Secretary Henry Cisneros to come up with a plan, and Cisneros convened what HUD called a “historic meeting” of private and public housing-industry organizations in August 1994

Ok. Once again, for the 1 gazillionith time, it wasn’t that Home Owner who bankrupted America — it was the mortgage brokers and the people who worked for companies like Merrill Lynch that did.

stands for decibels

March 23rd, 2011
9:12 am

BTW folks – if you’re one of the 30% underwater, and you get a better job offer elsewhere and you need a job: Take the Job and Default on the Loan.

Its called strategic default. Business does it all the time, and if you have a better option, and you’re seriously underwater – default, move on, and start over, but take the new job!

jm’s right about that. Any residual shame or sense of obligation to a bank (which is made up of professionals who’d walk away from a similarly losing proposition in a heartbeat, themselves) one might understandably feel, at first, is misplaced.

Rightwing Troll

March 23rd, 2011
9:13 am

“Obama with all the BILLIONS of $ you have spent on stimulus packages, all these shovel ready projects, the illegal aliens are recovering fairly well . Have you driven by all these road projects, sidewalks to no where and seen all those illegals ?”

So Obama hired all those illegals? Or the contracting companies doing the roadwork? Did Obama mandate the contractors hire illegals?

You do realize that most contractors and contractor types are Republican? (that was in jest, obvioulsy that won’t make any difference to your mindset…)

WOW

March 23rd, 2011
9:13 am

So where are all those shovel ready jobs Obama promised?

JKL2

March 23rd, 2011
9:14 am

Is there such a thing as a recall for a Peace Prize? Nothing can restore our credibility in the world like bombing more muslims! I guess I can go play more golf now.

Rightwing Troll

March 23rd, 2011
9:14 am

“Sums up the lefts 2008 description of Obama.”

After the 2000-2008 years, how can you blame anyone for having hope?

WOW

March 23rd, 2011
9:14 am

“it was the mortgage brokers and the people who worked for companies like Merrill Lynch that did.’

Yeah, those evil Wall Street monsters with their evil stocks in stuff. You tell em Debbie!

WOW

March 23rd, 2011
9:15 am

“After the 2000-2008 years, how can you blame anyone for having hope?”

Bumper stickers will never change the US Economy.

WOW

March 23rd, 2011
9:16 am

“Is there such a thing as a recall for a Peace Prize?”

Maybe, this is the first time multiple countries have asked the committee to strip it from someone.

Moderate Line

March 23rd, 2011
9:16 am

stands for decibels

March 23rd, 2011
8:31 am
Well, that’s because charts imply actual data….

and data have a liberal bias, yeah, I know.

I do wonder what percentage of that 30% of Georgians are actually aware that their houses–yes, THEIRS, not the other guys’–are under water?
++++++
How does the percentage of people underwater have a liberal bias?

DebbieDoRight

March 23rd, 2011
9:16 am

jm: A. This is why we must print money (said pinky the brain)

I LOVE Pinky & the brain!!! (What are we going to do tomorrow Brain? The same thing we do every day Pinky…..try and take over the world!!)

B. This is why the federal budget and entitlements are going to blow up in spectacular form unless stopped (”Sooner or later, things that are too good to be true always stop being true.”)

Well if the repubs really wanted to cut out entitlements they should’ve never pushed to extend the Bush Tax Cuts to the Ritchie Rich types.

Deep Throat

March 23rd, 2011
9:16 am

Obama, we’ve known for quite a while that no true American would re-elect you in 2012, thats why you refuse to close the borders and with Harry Reid’s help give all those illegals rights so they’ll vote for you.

Rightwing Troll

March 23rd, 2011
9:16 am

Consider it trademarked…

WOW

March 23rd, 2011
9:16 am

Liz Taylor died.

WOW

March 23rd, 2011
9:17 am

OFF TOPIC ONE BUT A GREAT ONE!!!!!!!!

Could Obama be Impeached over Libya? Let’s ask Biden

http://www.youtube.com/watch?v=Adpa5kYUhCA

Obama

March 23rd, 2011
9:19 am

“After the 2000-2008 years, how can you blame anyone for having hope?” – I don’t blame you for believing me either. I was soooo good at making y’all believe I was different than G.W.B. $14 trillion in debt and another war…FYI, we’re really brothas from anotha motha.

cmac22

March 23rd, 2011
9:20 am

Isn’t it funny how obozo has taken the country into another war, and the great collection of “opinion” writers at the ajc don’t seem to have any opinions on it?!! How about you clowns go back and research what obozo & his sidekick biden had to say about the prez taking the country to war without congressional approval. Can’t do that though, because that would make you all look like hypocrites!

Also, where is the outrage over the obozo lead military “kill team” in Afghanistan? When the whole story on abu ghraib broke back in 2004, you would have thought that President George Bush was in on the action & taking the pictures! But because obozo is the prez, let’s not mention it. Hypocrites!!!

JF McNamara

March 23rd, 2011
9:20 am

A home isn’t an investment. Its an expense. It doesn’t matter if you owe more than your home is worth just like it doesn’t matter if you owe more than your car is worth. It only matters when you sell. It would be interesting to know what percent of the percent underwater are stuck. That’s more accurate in terms of negative effects on the housing market.

WOW

March 23rd, 2011
9:21 am

cmac22

Yep, and it’s even more amazing that Obama himself said that he would never go to war unless attacked first. Biden even said that he would bring up articles of impeachment on any president.

Brad Steel

March 23rd, 2011
9:21 am

I’ve been re-acquainting myself with Hüsker Dü’s Zen Arcade double-lp of late, and I’d swear that coulda been one of the Side 3 lyrics I heard.

That’s what happens when you you turn on the news.

Obama

March 23rd, 2011
9:22 am

“about the prez taking the country to war without congressional approval.”

SSSHHHHHH!!!!!

ConnedConsCon

March 23rd, 2011
9:23 am

So where are all those shovel ready jobs Obama promised?

I got a tree that needs planting. You looking for work. Don’t wait for Obama to call you up and offer you the job of your dreams. Jobs and the economy and deficit reduction are what Republicans promised in the last election. That’s the platform that they ran on to get elected. Obama cannot deliver those things. Only the newly elected Republicans can do that, except for the tree I have. I can offer that to you to plant. I’ll throw in free water.

stands for decibels

March 23rd, 2011
9:24 am

How does the percentage of people underwater have a liberal bias?

it was a separate thought, after I’d replied to Jay’s quip.

Perhaps a new post would have been in order.

WOW

March 23rd, 2011
9:24 am

cmac22

There’s a great article on Salon about writing off the 2012 GOP at your own risk. I guess some of the hard left see the writing on the wall.

Deep Throat

March 23rd, 2011
9:24 am

cmac22 when have you ever heard a liberal accept responsibility, they can only whine and cry for more entitlements and it’s always the other guy’s fault.

JF McNamara

March 23rd, 2011
9:24 am

cmac22,

1. We aren’t in another war. Its a coordinated no fly zone to protect civilians. Until we intend to invade the country, its not a war. That’s not our intention.

2. Kyle Wingfield, the conservative, did cover the story and he called for action in Libya. I think Jay basically said he’s dealing the cards he’s dealt. He’s a coward if he does nothing, and he’s an insame warmaker if he does. He’s always in a no win situation.

cmac22

March 23rd, 2011
9:24 am

Now that he has put troops in harms way, is obozo back from vacation yet? This administration is a laughing stock. Excellent leadership in forging a coalition of NATO allies that can’t agree on anything. This country is led by nothing more than a– clowns! Hope you obozo supporters are enjoying what you voted for!

WOW

March 23rd, 2011
9:24 am

ConnedConsCon

In other news, you haven’t a clue about the shovel ready jobs.

MC

March 23rd, 2011
9:25 am

Actual data scares the hell out of folks Jay, when it goes against the spin and propaganda they choose to believe. And you have to actually know how to read a chart or graph. Some talking head doesn’t tell you what you are supposed to say or think with charts, graphs, and hard numbers.

AmVet

March 23rd, 2011
9:25 am

Once again, for the 1 gazillionith time, it wasn’t that Home Owner who bankrupted America — it was the mortgage brokers and the people who worked for companies like Merrill Lynch that did.

Debbie it is utterly hopeless.

Lucidity on this matter is not within the grasp of your average neo-con.

Their entire ability to discuss these insanely complicated matter revolves around six words – ACORN, Frank, Fannie, Freddie, Clinton and Carter.

They could no more talk intelligently, much less tell you in detail what happened in what sequence, who the many, many players in both the government and in the “free market” were and the underlying reasons regarding the attempted corporate destruction of capitalism, than they could pick the Final Four or find their ample arses with both hands.

For two years, I’ve tried to get one of these numskulls to do so and as Shatner said in Has Been, “It ain’t happened yet…”

But it sure is interesting watching them talk ALL day long and say nothing…

WOW

March 23rd, 2011
9:25 am

“We aren’t in another war.”

Nah, shooting missiles at another country….nah that ain’t war.

“He’s always in a no win situation.’

For 2012, yes.

George W. Bush

March 23rd, 2011
9:26 am

That fella, who’s postin’ as, whatdayuh callit–”Obama”?

That’s funny stuff. That’s uniquely American.

WOW

March 23rd, 2011
9:27 am

“Their entire ability to discuss these insanely complicated matter revolves around six words – ACORN, Frank, Fannie, Freddie, Clinton and Carter.”

As for the left: Haliburton, Wall Street, Tea Party, Bush, Rove, Cheney, Enron, Boortz, Palin, Gingrich, Limbaugh…….

@@

March 23rd, 2011
9:28 am

My situation is unique…it’s good, it’s bad.

Good how? Since we were the contractors, it’s worth more than we paid. It sits on acreage. It’s worth what we decide it’s worth and we’re not greedy.

Bad how? It’s in Clayton County.

I keep telling my husband to build a detached workshop. Every house that sells quickly has a detached workshop. Men love those things!!!!

I WANT MY GARAGE BACK!!!!

Deep Throat

March 23rd, 2011
9:28 am

ConnedConsCon water is OK, just don’t give me any of that kool aid you’ve been drinking.

WOW

March 23rd, 2011
9:28 am

cmac22

Even the libs are calling for impeachment. I got to hand it to Kacinich. I used to loath him but he makes more sense than a lot of GOPers.

Midori

March 23rd, 2011
9:29 am

RIP, Elizabeth Taylor :(

cmac22

March 23rd, 2011
9:29 am

JF McNamara,

When you shoot cruise missiles into a country, you are at war! Go back & read what obozo & biden had to say when they were esteemed? senators.

Also, while your at it, look and see what senator obozo had to say about raising the debt ceiling.

Face the facts, America’s first half white prez is a hypocrite & is in WAY over his head!

But I do hope he had fun on his vacation! Hopefully he will be able to get back in time to squeeze in a round of golf!

Obama

March 23rd, 2011
9:30 am

“Its a coordinated no fly zone to protect civilians”

But 90% of the planes doing the bombing are ours! You keep believing we’re not at war, JF.

DebbieDoRight

March 23rd, 2011
9:30 am

BTW folks – if you’re one of the 30% underwater, and you get a better job offer elsewhere and you need a job: Take the Job and Default on the Loan.

Hopefully it’ll be before Georgia’s brand new “non-compete” law comes into affect.

WOW: Yeah, those evil Wall Street monsters with their evil stocks in stuff. You tell em Debbie

Dude — it has been proven time and time again that the world wide collapse was because of Wall Street. Not Joe Blow. But, I guess unless you see that statement on Faux News, then it’s just not true.

stands for decibels

March 23rd, 2011
9:30 am

That’s what happens when you turn on the news.

and somebody shoots a guy he don’t even know.

anyway, I guess most here aren’t real interested in discussing Jay’s topic, so I’ll bid adü for awhile..

ConnedConsCon

March 23rd, 2011
9:30 am

In other news, you haven’t a clue about the shovel ready jobs.

WOW doesn’t know much about planting trees. I think you’ll have to pay me to plant it.

Doggone/GA

March 23rd, 2011
9:31 am

“We must begin by acknowledging the hard truth that we will not eradicate violent conflict in our lifetimes. There will be times when nations – acting individually or in concert – will find the use of force not only necessary but morally justified.

I make this statement mindful of what Martin Luther King said in this same ceremony years ago – “Violence never brings permanent peace. It solves no social problem: it merely creates new and more complicated ones.” As someone who stands here as a direct consequence of Dr. King’s life’s work, I am living testimony to the moral force of non-violence. I know there is nothing weak -nothing passive – nothing naïve – in the creed and lives of Gandhi and King.

But as a head of state sworn to protect and defend my nation, I cannot be guided by their examples alone. I face the world as it is, and cannot stand idle in the face of threats to the American people. For make no mistake: evil does exist in the world. A non-violent movement could not have halted Hitler’s armies. Negotiations cannot convince al Qaeda’s leaders to lay down their arms. To say that force is sometimes necessary is not a call to cynicism – it is a recognition of history; the imperfections of man and the limits of reason”

from Obama’s Nobel acceptance speech
http://www.msnbc.msn.com/id/34360743/ns/politics-white_house/

Bosch

March 23rd, 2011
9:31 am

This is surprising since we had such a shift in population in the state, so hopefully these numbers will change soon as demand changes for homes.

And, yeah, Midori — RIP Liz — what a true beauty.

ConnedConsCon

March 23rd, 2011
9:31 am

ConnedConsCon water is OK, just don’t give me any of that kool aid you’ve been drinking.

What is kool aid. Is it similar to farm aid.

Obama

March 23rd, 2011
9:32 am

George W. Bush @ 9:26 am

Hey my brotha from anotha motha! How’d spreading Democracy work out for ya in Iraq? I’m just following in your footsteps!!!

AmVet

March 23rd, 2011
9:32 am

And to George’s nephew lobbing Tomahawks into Libya, two thoughts.

First, the chickenhawks STILL have their heads so far up Dick Cheney’s draft-dodging ___ that they actually equate doing so, with getting thousands of our GI’s slaughtered in Iraq.

Secondly, this president has lived up exactly to my predictions – he’s little more than another corporate-owned flunky kneeling before his paymasters in the military industrial complex.

I warned my libs friends before he was even elected – prepare to be very disappointed in this fraud…

@@

March 23rd, 2011
9:32 am

Banner atop this site!!??!!

“THE 2011 MARKET CRASH IS COMING!”

The AJC doesn’t instill confidence, does it?

Deep Throat

March 23rd, 2011
9:33 am

Walmart greeters always say alot without saying anything of meaning.

Bosch

March 23rd, 2011
9:33 am

And a great speech it twas, Doggone!

JKL2

March 23rd, 2011
9:33 am

WOW- Biden even said that he would bring up articles of impeachment on any president

Only way that clown could become president since he would never get elected. Sounds like a good move on his part to try and take over.

First Sergeant

March 23rd, 2011
9:36 am

Deep Throat

March 23rd, 2011
8:38 am
Obama, I hope you’ve had a good time in South America, partying and encouraging the Brazilians to drill for Oil. Oh and hows your picks coming, sure wish you’d focus on the issues at home that mean something, like the economy and jobs.

Every time President Obama does address issues at home, your Republican Legislative brothers/sisters give zero support. So, why don’t you address your question to the right (no pun intended) audience, fool!

John

March 23rd, 2011
9:37 am

“That’s what happens when a bubble pops. That’s what happens when the music stops. Sooner or later, things that are too good to be true always stop being true”

Well, Jay. That’s your boys Barney, Chris and the gang. This is yet another perfect example of a great sounding idea that simply doesn’t work. Socialism just doesn’t work. It always sounds terrific and charitable when a liberal speaks about everyone owing a home or going to college. What you fail to appreciate is that the US provides equal opportunity, not equal results. By leaning on Banks and other so-called conservative financial markets that cater only to the wealthy white, and forcing them to go against every logical business principle, the liberals literally crushed our economy.

Why aren’t Barney & Chris is jail? For that matter, Jay, why aren’t the media all over this? We all know the answer – I just want to know if you have the nads to publicly admit it?

Bosch

March 23rd, 2011
9:37 am

AmVet,

“I warned my libs friends before he was even elected – prepare to be very disappointed in this fraud…”

He’s pretty much lived up to my expectations too — a very moderate Democrat. I knew there would be things he did I wouldn’t like, and things he did that I do like. I had no qualms with Bush until he gave the order to invade Iraq. I mean, if anything you must give him credit in this military exercise — at least he didn’t give the order to invade Norway.

jconservative

March 23rd, 2011
9:37 am

Yeah, the housing market sucks.

Doggone/GA

March 23rd, 2011
9:38 am

“And a great speech it twas, Doggone!”

I agree, and those paragraphs I quoted struck me particularly

WOW

March 23rd, 2011
9:40 am

“it has been proven time and time again that the world wide collapse was because of Wall Street. Not Joe Blow. But, I guess unless you see that statement on Faux News, then it’s just not true.”

Uh huh.