Dave is hired by White House bigwigs as a one-time only stand-in for President Bill Mitchell, who has identical looks.  When the President has a paralyzing stroke, the White House chief of staff retains Dave to impersonate the President to keep the political power in his court.

As Dave assumes the role of the President, he increasingly realizes that he can do much good for America and his humor and vitality energizes the country.  After Dave and Mrs. Mitchell, played by Weaver, visit a homeless shelter that has a surprising number of kids as clients, Dave is touched.  He is soon shocked to learn that the chief of staff removed a $650 million  portion of the federal budget that was designated to fund homeless shelters.  Mrs. Mitchell, who already hates her husband, is really upset.

Long story short, Dave rolls up his sleeves and really assumes the position of President instead of being a puppet stand-in.  He eliminates fluff from the budget in restoring the $650 million homeless shelter funds.  Now Mrs. Mitchell realizes that Dave is not her real husband, and together they conspire to change America for the better.  Dave announces a plan to “give a job to every American who wants one.”

And that’s why I would like to be Dave for a month or so, just like in the movie.  A common man got a chance to make a difference, to cut through the government bureaucracy of patronage and waste.  To restore American’s faith in America, to bring common sense and doing what is right back to Washington, DC.

The movie was pure fantasy.  But the dream of giving back our country to the everyday person and being led by someone with compassion and common sense is too much to ignore.  It’s the way things should be.

Don’t you agree?

- Mountain Man

http://www.MountainManandCityGirl.com

I’m a perfect example.  I’m not a Christian.  I don’t buy Christmas gifts or have a Christmas tree.  Bah humbug.  The materialism of Christmas turned me off nearly a half century ago.  And a lifelong examination of my religious beliefs and the religious philosophies of the world has pretty much made me conclude that I’m perhaps an atheist.

But I am blessed with a great wife, who happens to be my best friend and business partner.  Her unbridled enthusiasm for Christmas makes that a time of year that I especially appreciate all she’s done for me and all that she means to me.

I recall a quote, “Love is the soul’s recognition of its counterpoint in another.”  That wraps up my feelings toward our special relationship.

So I ask on this Christmas day that you not dwell on what things you did or didn’t find under your Christmas tree.  Instead, think longingly of the ones you love.  For it is that love that carries you through the other 364 days of the year.

- Mountain Man

http://www.MountainmanandCityGirl.com

Tejon Ranch is the largest private land holding in California, measuring around 270,000 acres, or over 400 square miles.  The massive Kern County tract had not been viewed by the public for 140 years.  The property is located along the main north-south route on the West Coast, Interstate 5, situated 60 miles north of Los Angeles and 30 miles south of Bakersfield.  It is at the confluence of four ecosystems – the Mojave Desert, Sierra Nevada Mountains, Central Valley, and South Coast, so it is a wildlife corridor of magnificent proportions.

Last May, the Tejon Ranch Company penned an agreement with five of the most important environmental groups – including the Sierra Club and Audubon Society – to set aside permanently 90% of the property.  So far, 178,000 acres have been established as Open Space or a conservancy, with an option on 62,000 acres more at fair market value.

What the Tejon Ranch gets is the unhindered ability to develop part of the remaining land, which is all located along I-5 at the western edge of the ranch.  They already have tenants in parts of the 1,450-acre Tejon Industrial Complex, including IKEA with a 1.7 million square foot warehouse.  Oneida and Famous Footwear also call the complex home.

Tejon Mountain Village, which developers hope will eventually contain 23,000 homes and 70,000 people in 18.4 square miles of newly-hatched city, was just approved October 5th by the Kern County Board of Supervisors.  There will also be resorts and golf courses, plus hiking and equestrian trails in this “environmentally sensitive mountain resort community”.

Within the preserved portions of Tejon Ranch the bears, bobcats, mountain lions, pronghorn antelope, and more will be able to continue to roam free amongst the many diverse habitats.  The Pacific Crest Trail, which runs from the Canadian to Mexican borders, will shift 39 of its miles to the breathtaking Ranch, something previously only dreamed of.

The Tejon Ranch concept, which will create 1,500 additional permanent jobs and 1,600 construction jobs, appears to be a win-win for everyone concerned.  Isn’t it great when there is intelligent compromise that both spurs the economy and preserves our precious earth?

- Mountain Man

http://www.MountainManandCityGirl.com

The tried and true banking tradition is that banks took deposits from customers, paying a certain interest rate, then lent money to borrowers at a higher rate.  The difference in the interest rates was their profit.

The model has changed since the number of bank failures rose from three in 2007 and 25 in 2008 to 140 in 2009. 

Banks are now borrowing at near-zero percent interest rates to get short term loans for themselves and putting the money into Treasury notes and other higher-yielding government securities.  They make a profit with no risk (unless the United States collapses).  This practice is called playing the yield curve, or carry trade.

Loans given out to consumers and businesses in America have dropped 8% in the last year.  The banks claim that less people want loans.  Our experience as realtors tells us a different story.  We’re seeing people with solid credit and income getting turned down for loans in this vacation home market here at the South Jersey shore.  At our agency, we’ve put a lot more properties in 2009 “under contract” than in 2008, but we’ve closed on fewer than last year.

Right now only FHA-backed loans, which account for 30% of home loans compared to just 3% in 2006, seem a sure thing.  Loans for second homes and businesses are tough to obtain.  Banks literally want no risk when giving a mortgage.

When the economy finishes turning around and businesses begin hiring, maybe banks will feel comfortable again lending money.  Until then, many realtors and consumers will have to continue treading water.

- Mountain Man

http://www.MountainManandCityGirl.com

This was the backdrop as President Obama spoke for an hour or so to top bankers in an attempt to get the major banks to loosen their purse strings and increase lending.  He also implored them to make more loans to small and medium-sized businesses, which have the most potential to create new jobs.

The plea for making more loans available was made to the top brass of US Bancorp, Bank of America, JP Morgan Chase, Morgan Stanley, Goldman Sachs, Citigroup, and Wells Fargo, both publicly and in private.  Combined, this big seven will soon have paid back about $200 billion of the $453 billion given to banks, automakers, and such.  The total stimulus package was $787 billion. 

Despite paying back the loans, the President reminded bankers that they have an obligation to the American public, which bailed them out during the financial crisis a year ago.

While Bank of America pledged to increase small business loans $5 billion in 2010 over 2009 levels, and JP Morgan promised last month $4 billion more in 2010, the bankers pointed to the slow economy as reason to be cautious about loaning money.

Until the government and banks can get money into the hands of businesses that will then make jobs and get the money to American families, the economy will sputter.  Better times are ahead, but let’s hope Obama can push things along quicker.

- Mountain Man

http://www.MountainManandCityGirl.com

The new RESPA reforms are aimed at giving the consumer better information earlier in the process and the ability to shop for the best deal by comparing service providers.

Potential buyers need only give six pieces of information – name, monthly income, social security number, property address, sale price, and loan amount desired.  They can do this with several banks or lenders and get a Good Faith Estimate (GFE) within three days.  The GFE results can then be compared side-by-side so the consumer then can make an informed decision on which scenario and providers to use.

The GFE has three parts – charges that can not increase, those that can only increase a maximum of 10 percent, and those that can change at settlement if you don’t use the service company identified by the lender.

That said, here’s the downside of the new RESPA. 

There will need to be a huge increase in communication between the lender and whoever is doing the closing – either a title company or attorney.  That’s a scary thought, especially when a lawyer is involved.

The other concern we have as realtors is that lenders – who are often located 100 or 200 miles from us here in Cape May County – are going to be supplying names of home inspectors, termite inspectors, etc., to the prospective buyers.  The only way we can sidetrack a potential logistic fiasco is to give these buyers a list of reputable local puveyors to submit to the lender upon first contact.

The new HUD-1 Settlement Statement used at closing, which is now three pages instead of two, also has two drawbacks.  Closings will take longer and the HUD-1 is less detailed and more about total costs.

The federal goverment received 12,000 public comments prior to designing the new RESPA and its GFE and HUD-1 forms.  Once realtors, title companies, lenders, attorneys, sellers, and buyers get used to the new format and procedures, hopefully all the parties concerned will be pleased.

- Mountain Man

http://www.MountainManandCityGirl.com

The next generation has been called “Generation X”, originally called the “Baby Bust” due to the low birthrate in America.  They were born from 1965 to 1979, with the latter half mostly children of early Baby Boomers.  They are now 30 to 44 years old, but they are just 48 million strong.  With the average age of a first-time homebuyer pegged about 33 years old, they are filling that niche right now while the Baby Boomers upgrade to add vacation homes or downsize to smaller homes as “empty nesters”.

The next group to arrive was Generation Y, those born between 1980 and 1995.  Now 14 to 29 years olds and children of the latter half of the Baby Boomers and the early Gen X’ers, they will be the next group to arrive on the real estate scene.  The exciting news for the real estate industry and the economy of the United States in general is that there are 74 million of them.  They should eventually have the economic impact equal to that of the Baby Boomers.  Tattoos and piercings and all, this generation will soon enter the first-time homebuyer market and take their place on the economic ladder until they are perhaps 60 years old or so.

As the population demographics shift from one group to another, there will always be a new generation to carry the day.  Isn’t that why we reproduce?

- Mountain Man

http://www.MountainManandCityGirl.com

As Mighty Mouse used to say, “Here I come to save the day!”  So here’s my simplistic approach to ending the Recession.

The United States of America has the highest bond rating possible – AAA.  That rating means that the U.S. is not likely to default on debt.  Thanks to the Bretton Woods Accord back in the 1970s, the U.S. dollar is no longer backed by the gold in Fort Knox.  The American dollar – of which there are 829 billion – is backed by the government’s ability to generate revenue to pay down it’s debt.

New dollars are issued when the Federal Reserve elects to fund the purchase of debt, which is usually through U.S. Treasury Bonds.  Done in excess, this can cause inflation, but bear with me.

The net worth of Americans is currently $53.4 trillion.  Prior to the Recession, it was $64.5 trillion.  In other words, we’ve lost 17.2% of our worth.  By the way, $348 billion of our collective $53.4 trillion is household real estate holdings, i.e. your house.

That’s the background, now my proposal.

Let’s give each American household $10,000 tax free.  With 105,480,101 households, that’s $1.05 trillion.

There are 7.7 million businesses in America.  Let’s give them each $100,000 tax free.  That’s a mere $770 billion. 

So add it up and the American government can print and distribute $1.82 trillion.  This isn’t money raised by taxes.  We’re just gonna print it and give it out.  There’s just one stipulation – the money can’t leave the country.  It can’t be sent to relatives in Nicaragua or used to hire workers in China.  It has to be spent in the 50 states.

Think of the ramifications.  The boost to the economy will be incredible.  Some people will pay down debt or save their homes, while others will buy TVs, cars, and yes, useless junk.  Some might even use some of the money for booze, cigarettes, and methamphetimines, but that can’t be helped.

All this will turn into many of the 7 million people laid off from work since the beginning of the Recession getting gainful employment again.  For every dollar currently in circulation, there will now be three dollars.  Banks will start lending again and the good times will roll.  States will see an increase in sales taxes collected, easing their budget pains.

The nay-sayers will yell that my plan will cause inflation.  Sure, it will.  But it’ll be manageable, maybe 10% at most and it will be a one-time thing, just like my giveaway windfall.  But the trade-off of jobs and reduced personal debt is well worth it.  The American economy will have the jump-start it needs.

Some might call my plan crazy.  But at least I have a plan.

And I bet you’re smiling and already thinking about how you’d spend your $10,000. 

- Mountain Man

http://www.MountainManandCityGirl.com

To the surprise of many, including this ardent Cape May County observer, voters successfully recalled City of Wildwood Mayor Ernie Troiano and Commissioner Bill Davenport in Tuesday’s special election. 

The first part of the ballot asked whether voters wanted to recall the pair.  Voters went 624 to 487 to recall the mayor and 649 to 470 to unseat the commissioner.  Apparently there was enough dissent within the community to overcome the regular party machine.

The second part of the ballot then asked to vote for two of the six candidates.  With only about a dozen or so provisional ballots not yet counted, the vote went:

Ed Harshaw 600, Al Brannen 577, Troiano 496, Davenport 453, Ernesto Salvatico 45, and John Roat 42.

And so Harshaw, a real likable high school history teacher, and Brannen, who’s been a thorn in the administration’s side, take over a city with the highest tax rate in Cape May County and a mountain of debt.  They join Commissioner Gary DeMarzo, the controversial third commissioner.

The trio will decide amongst themselves who will be mayor and they haven’t hinted publicly yet whom they each will vote for. 

The outgoing mayor took a parting shot, not indicating whether or not he knows exactly who will be the new mayor.  “The only thing that bothers me is you’ll have an absolute nitwit for a mayor now.”

- Mountain Man

http://www.MountainManandCityGirl.com

Chase Bank and Bank of America, which merged with Merrill Lynch in 2009, pretty much have the credit card business all to themselves.  These two giants of the financial world control the credit destiny of tens of millions of Americans.

So why would Bank of America suddenly cut off five or ten million hard-working American families from having credit lines?

This past Tuesday, December 8, Bank of America paid back the $45 billion it got from the U.S. Government in the big bank bailout.  It did it with about $19 billion in cash and the balance by selling off securities.  To make sure they had the cash on hand, B of A apparently needed to make sure you couldn’t borrow any of it.

Here comes the kicker.

Bank of America paid back the $45 billion to the U.S. Treasury so that they would no longer be bound by the rules that were instituted as a condition of using the bailout funds.  Since the CEO of B of A recently announced his resignation as of December 31, the board of directors has been searching for a new CEO.  It seems they feel that they can’t offer “proper incentives” to attract a quality CEO and accepting the government grant money limited the bonuses allowed to be paid to the company’s top management.

So, to make sure they can offer their new CEO $50 million or $100 million in bonus incentives, they cut off the credit of millions of American families! 

Where’s the public outrage?

- Mountain Man