Calculated Risk provides commentary and this pretty graph showing the housing bubble in terms of how much equity homeowners took out, both in dollars and as a percentage of income:
Spectacularly, the second quarter of 2008 saw almost zero equity extracted by homeowners.
Whatever else zero means, it means that the money left as equity will not be spent between now and the end of the calendar year. It’s another pointer to a slowing, if not diving, economy.
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Neuhaus on California Same-Sex Marriage RulingFrom: cehwiedel.com
Post Date: 2008-05-31 06:55:26
Father Richard John Neuhaus tackles the recent ruling by the California Supreme Court that same-sex marriage is required by the state constitution:
In an act of raw judicial power, and by a one-vote margin, the California Supreme Court has declared that there is, in California law, a constitutional right for same-sex couples to enter into what the state will recognize as marriage. This despite a recent referendum in which Californians overwhelmingly rejected the idea.
His discussion inc...
more Bat Ye’or Reviews Robert SpencerFrom: cehwiedel.com
Post Date: 2008-05-30 09:48:27
Bat Ye’or, an authority on the Islamic doctrine of subjugation of non-Muslims under Muslim rule (dhimmitude), reviews Robert Spencer’s latest book, Religion of Peace? Why Christianity Is and Islam Isn’t :
[Spencer] instructs those many in the West who do not understand the possibility of an Islamist-provoked catastrophe putting an end to democracy’s comfortable political and social order. More broadly, Westerners rarely perceive that their foreign policies...
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