All in the Family featured the curmudgeonly Archie Bunker. Archie was television’s most famous grouch, blunt, blustering, straightforward and untouched by the PC crowd. He was the archetype of the conservative male. Michael desprately tried to reeducate him, but he persisted in his breviloquence.

Looking back at the last 40 years, we realize: ARCHIE WAS RIGHT!



I’d like some input from the gun nut crowd. I’m still working towards my 1K goal. I’m still in the rebuilding the gun stage. I know I should be further along, hunting season and taking on extra work have been slowing up the process. I’m at the point where I’m looking at adding two important components and I’d like your thoughts.

As way of reminder this is for a 7mm-08 built on a Remington 700 short action. Item number one: a new stock. I’m pretty much sold on doing a Bell and Carlson full aluminum bedded stock. I have two choices that I’m considering. Choice number one is the VARMINT/TAC S/A MEDALIST STOCK, and choice number two is the fully adjustable VARMINT/TACTICAL STOCK. Question does anyone have any personal experience with either stock? I’m leaning towards the adjustable stock, thoughts?

Item number two. I’m thinking about rebarreling the bad boy with either a Krieger or a Hart heavy, fluted barrel. Of course I’ll have it trued and accurized etc. Any thoughts on length or barrel preference?


Mortgages Part 1b

A special hat tip to Gary North. I found this at his place, although its not his work. I intend to work on my analysis after I get a substantial amount of honey do, done.

Pay attention to part 2, these guys are on the money. They are playing it for laughs but they are 100% right, on both the theory and the practice.

Environmental News

Al Gore discovers a solution to energy independence. PETA hates it. I'm torn in my feelings on if we should do it or not. You decide.


GOD is Busy

If you don't know GOD, don't make stupid remarks!!!!!!!

A United States
Marine was attending some college courses between assignments. He had completed missions in Iraq and Afghanistan.

One of the courses had a professor who was an avowed atheist and a member of the ACLU. He was anti-war as well.

One day the professor shocked the class when he came in. He
looked to the ceiling and flatly stated, "God, if you are real, then I want you to knock me off this platform. I'll give you exactly 15 minutes." The lecture room fell silent. You could hear a pin drop. Ten minutes went by and the professor proclaimed, "Here I am God. I'm still waiting."

It got down to the last couple of minutes when the Marine got out of his chair, went up to the professor, and cold-cocked him; knocking him off the platform. The professor was out cold. The Marine went back to his seat and sat there, silently. The other students were shocked and stunned and sat there looking on in silence. The professor eventually came to, noticeably shaken, looked at the Marine and asked, "What the heck is the matter with you? Why did you do that?"

The Marine calmly replied, "God was too busy
today protecting America's soldiers who are protecting your right to say stupid stuff and act like an idiot. So, He sent me."


The Mortgage Industry

The press has been paying attention to the unexpected sub prime mortgage meltdown. It's not a melt down and as anyone with either a recollection of banking history or a rudimentary understanding of math can attest, its not unexpected.

Lets review. In the late 1970's and early 1980's interest rates shot through the roof. Back then the adjustable rate mortgage wasn't the prevalent product. In those days fixed rate mortgages were often only of 5 to 15 years lengths. As they customarily had been in the US before the advent of Fannie and Freddie. If you wanted a 30 year loan, it was generally offered as a 5 year balloon.

Here's how the old 30 year loan worked. You wanted to buy a house. The first thing you did was save up 20% of the purchase price as cash, plus 6 months housing expenses, plus 2 to 6 months worth of escrow for taxes and insurance. In all likelihood you had about 30% of the purchase price on deposit in the same bank you were going to get the mortgage from. Then they evaluated your ability to repay the loan. If you had enough monthly income from your normal 40 hour work week to make the payment and if your total debts (remember not many people had credit cards) including your utilities and any other recurring expenses didn't exceed 25% to 30% of your total gross income, AND you had sufficient disposable income to live on, they would take the time to evaluate your credit. Credit scores were a evolving thing at this point and most of the scoring systems were not as uniform as they are now. What happened was the loan officer had to get letters of reference and call up people you had accounts with to see if you paid your bills on time. Today you have to be 30 days late to get a late on your credit report, under the old system the LO knew if you were always just a few days behind. If that checked out you got the loan.

The way the loan worked was your payment was amortized over 30 years with a fixed interest rate. Every fifth year the total principal amount came due as a balloon payment. Some paid it off, most refinanced at what ever the new interest rate was. Under Jimmy Carter's admin folks got a big surprise, when that 5 year balloon came due instead of a seeing a 1/4 or 1/2 point interest rate hike they were seeing 10 to 16% interest rate hikes. They couldn't make the payments. Some lost their homes, others had local banks that would work with them. To keep the roof from collapsing on the nation, several things happened. The government sponsored several different buyouts and some banker thought up bringing back a practice that was generally regarded as unethical. Thus we saw the re advent of the negatively amortized and the interest only mortgage. After Regan's election banking got back to "normal" and interest rates and home mortgage rates bounced in the 7 to 9% range for most of the 1990's.

This is getting long. I see a part 2 coming down the road.