Tip/Wag - Wall Street & North Carolina

  • Aired:  06/19/13
  •  | Views: 25,186

Wall Street invests in house flipping to create America's second massive housing bubble, and North Carolina goes after public road freeloaders. (4:25)

(LAUGHTER)

LIKE A CLOCK.

FOLKS, I BELIEVE IN SAYING

WHATEVER'S ON MY MIND RIGHT

AFTER IT'S BEEN PUT INTO THIS

LITTLE TELEPROMPTER UP HERE.

THIS IS TIP OF THE HAT, WAG OF

THE FINGER.

(CHEERS AND APPLAUSE)

FIRST UP, LADIES AND GENTLEMEN,

THERE'S SOME GOOD NEWS ABOUT THE

HOUSING MARKET IN THAT THERE IS

STILL A HOUSING MARKET.

(LAUGHTER)

JIM?

>> HOUSE FLIPPING IS BACK.

>> Stephen: HOUSE FLIPPING?

YOU'VE GOT TO BE KIDDING.

>> I'M NOT KIDDING.

HOUSE TIPPING.

REALTY TRACK SAYS THESE ARE THE

BEST PLACES TO FLIP A HOUSE.

NUMBER ONE: ORLANDO, ALSO ON THE

LIST, LAS VEGAS, PHOENIX, TAMPA.

SEE THE COMMON DENOMINATOR?

THESE STATES AND CITIES TOPPED

THE LIST OF THE FORECLOSURE

CRISIS.

>> THEY WERE GOBBLED UP BY HEDGE

FUNDS AND NOW THE HEDGE FUNDS

ARE NOW RENTING BACK TO THE

PEOPLE WHO CAN'T AFFORD TO BUY

HOMES.

>> NATION, THIS IS THE FREE

MARKET AT ITS BEST.

BANKS OVERLEND TO HOMEOWNERS AND

THEN FORECLOSE ON THEM THEN RENT

THEM BACK THEIR FORMER HOMES.

(AUDIENCE REACTS)

IT'S LIKE BEING A METH DEALER

WHO IS ALSO A DENTIST.

(LAUGHTER)

WHICH REMINDS ME I NEED TO GET A

CHECK UP WITH SPIDER.

THAT'S WHY I'M GIVING A BIG TIP

OF MY HAT TO WALL STREET FOR

THIS GREAT MONEY-MAKING

INNOVATION.

BUT SADLY NOT EVERYONE'S ON

BOARD.

LIKE ONE CALIFORNIA REAL ESTATE

AGENT WHO WORRIED THE THINGS

THAT SCARES ME IS THE VALUES

GOING UP SO QUICKLY.

THAT'S WHAT HAPPENED BEFORE AND

THAT'S WHAT'S SCARING ME.

IS THIS GOING TO HAPPEN AGAIN

(LAUGHS)

NO!

THIS IS COMPLETELY DIFFERENT!

THE FIRST TIME WALL STREET

INVESTORS PUMPED MONEY INTO THE

REAL ESTATE MARKET CAUSING A

MASSIVE BUBBLE THAT LED TO AN

ECONOMIC CRISIS.

(AUDIENCE REACTS)

THIS TIME WALL STREET INVESTORS

ARE PUMPING MONEY INTO THE REAL

ESTATE MARKET CAUSING A MASSIVE

BUBBLE THAT WILL LEAD TO

PROSPERITY!

(CHEERS AND APPLAUSE)

AS THE OLD SAYING GOES, THOSE

WHO FORGET THE PAST ARE DOOMED

TO MAKE MAD DOLLARS!

(LAUGHTER)

NEXT AMERICA'S ROADS AREN'T WHAT

THEY USED TO BE AND I WOULD TELL

THE NATION'S HIGHWAYS MYSELF BUT

THEY'RE STILL UPSET SINCE

FINDING OUT THEY WERE ADOPTED.

(LAUGHTER)

AND SADLY -- I KNOW, I KNOW.

AND SADLY STATE GOVERNMENTS

SIMPLY DON'T HAVE THE MONEY TO

REPAIR THEM.

THAT'S WHY I'M GIVING THE NEXT

TIP OF MY HAT TO NORTH CAROLINA

FOR FINDING AN INNOVATIVE WAY TO

PAY FOR ROAD CONSTRUCTION.

>> OWNERS OF HYBRIDS AND

ELECTRIC CARS IN NORTH CAROLINA

MAY BE HIT WITH HIGHER FEES

BECAUSE THEY DON'T PAY THE SAME

AMOUNT OF GAS TAX AS DRIVERS OF

TRADITIONAL CARS.

>> THE PROPOSED STATE SENATE

BUDGET CALLS FOR AN INCREASE ON

TOP OF THE ANNUAL REGISTRATION

FEE.

>> THE SENATE BUDGET PROPOSAL ON

THE TABLE NOW CALLS FOR $50

ADDED FOR HYBRID OWNERS, $100

TACKED ON FOR ANYONE WHO DRIVES

AN ELECTRIC CAR.

>> Stephen: THANK GOD!

I SAY IT'S HIGH TIME WE PUNISH

THE ECK COTKWAOEPS.

THEY SHOULD BE BUYING GASOLINE

WHEN THEY NEED IT OR NOT.

(LAUGHTER)

I DON'T CARE WHAT YOU DO WITH

IT, SET FIRE TO A DENNY'S.

(LAUGHTER)

IN FACT, --

(APPLAUSE).

IN FACT, FOLKS, I THINK MAYBE

THIS IS JUST ME, I THINK NORTH

CAROLINA SHOULD GO AFTER ALL

FREELOADER TRANSPORTATION THAT

USES PUBLIC ROADS BUT DOESN'T

PAY INTO THE SYSTEM.

PEDESTRIANS SHOULD BE HIT WITH A

WALKING TAX.

(LAUGHTER)

BICYCLISTS SHOULD BE HIT WITH A

BIKE TAX.

AND UNICYCLISTS SHOULD JUST BE

HIT.

(LAUGHTER)

WHY STOP AT ROADS?

PLENTY OF PEOPLE MAKE LIFE-STYLE

CHOICES THAT ADVERSELY AFFECT

STATE BUDGETS.

LIKE THOSE PEOPLE WHO QUIT

SMOKING.

THAT HAS CAUSED CIGARETTE TAX

REVENUE TO DECLINE, TAX WHICH IS

GO TO FUND CANCER RESEARCH!

(LAUGHTER)

YOU HEAR THAT?

PEOPLE ARE GOING TO DIE FROM

LUNG CANCER BECAUSE YOU REFUSE

TO SMOKE!

(LAUGHTER)

THANKS FOR SPREADING YOUR

SECOND-HAND HEALTH YOU SELFISH

JERKS!

WE'LL BE RIGHT BACK.

(CHEERS AND APPLAUSE)