Now if this blogger could just make some $ off of the blog and retire to an island to blog full time, all would be good in the universe...
Thanks HP'ers for your support this past year. 250,000 page views a month coming up - pretty darn cool.
Seriously, I blog for fun, and to try to create a forum for folks to gain the information they need to make good life decisions. I hope for some of you HP has saved you from a big mistake (that of buying a home at the peak)
Cheers
Keith
August 30, 2006
Bubble Sign #12949: HousingPanic continues to set records for visits and page views
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37 comments:
How can we blame the Fed for the reckless and irresponsible behavior of the average homeowner?
Well, because they knew the effects of their "cheap money" policy every step of the way.
First of all, the Fed knew exactly where the money was going. Greenspan endorsed the shabby new lending-regime which put hundreds of billions of dollars in the hands of people who never should have qualified for mortgages. They were set up to fail just like the victims in the stock market scam who kept dumping their life savings in the NASDAQ when PE's were shooting through the stratosphere.
Secondly, the Fed knew that wages had actually regressed (2.3%) since Bush took office, so they knew that the soaring value of real estate was entirely predicated on debt not real wealth. In other words, home values increased because of the availability of cheap money which inevitably creates a buying-frenzy. It had nothing to do with real demand or growth in wages.
And, thirdly, according to the Fed's own figures, "the total amount of residential housing wealth in the US just about doubled between 1999 and 2006"up from $10.4 trillion to $20.4 trillion". Times Online.
UP $10 TRILLION IN 7 YEARS! That is the very definition of a humongous, economy-killing equity monster. In other words, the Fed knew the ACTUAL SIZE OF THE BUBBLE and chose to steer it towards the nearest iceberg without warning the public.
This is what Greenspan called "a little froth".
There is no real growth in the American economy. Figure it out. Last year Americans saved less than 0% of their net earnings while they borrowed a whopping $600 billion from their home equity to piss-away on a consumer spending-spree. Once home prices begin to retreat, that $600 billion will evaporate, real GDP will shrivel, and the economy will begin flat-lining. (Consumer spending is 70% of GDP)
The Federal Reserve's plan is so simple; we shouldn't dignify it by calling it a conspiracy. It's merely a matter of hypnotizing the masses with low interest rates while trillions of dollars of real wealth is diverted to corporate big-wigs and American plutocrats.
It might not be rocket science, but it worked like a charm.
Now, the trap-door has been sprung; the country is dead-broke and all the levers are in place for a police state. As the housing-balloon slowly limps towards earth, the new Halliburton detention centers are up and running, the National Guard is in Rummy's control, the Feds are able to listen-in on every phone call we make.
"UP $10 TRILLION IN 7 YEARS! That is the very definition of a humongous, economy-killing equity monster. In other words, the Fed knew the ACTUAL SIZE OF THE BUBBLE and chose to steer it towards the nearest iceberg without warning the public."
Yep. Greenspan ultimately turned into a Neoconservative Lapdog, doing his part to destroy the country so his rich cronies could stay in power (the 2004 election) and thereby become wealthier.
Where do you get the stats on your blog? Is this provided by blogger? If so where?
Thanks
A Lowly Fellow Blogger
First anon - you are right about that.
Police state is well underway with the passage of the "pat" act...enslaving the middle clash in debt...and immigration free passes.
Congrats Keith. You've created something special. While I disagree with the sensationalized "sky is falling" attitude, your content is compelling.
Now with 250,000 page views per month and those ads are still only generating beer money? Hmmm...
Finally, those stats are from sitemeter.com. But do yourself a favor and sign up for google analytics instead. They've opened up their beta and it's well worth it. You too Keith.
-Osman
Congrats Keith. It is a beautiful thing to see growth like that. Keep it up!
Keith,
Great blog - my favorite one devoted to the topic. I have been visiting only in the last two weeks or so. Keep up the good work.
Jinxo
Instead of trying to make more money off the advertising. Why not make the advertising compliment the site?
Try AdBrite.com and get rid of Adsense
Your page views are a bubble unto themselves. Just waiting to pop. Just kidding. Congrats and keep up the attitude.
First casualty of the Labor Day Layoff Curse
http://tinyurl.com/syxmo
By Email No Doubt..one way to save Paper.
Keith and friends, this link is not a joke. I swear on my realtor's life this is an actual real estate network news program with Bob Losure...the content is gut splitting!
http://dnn.tv/emailPlayer/newsUpdate_player.asp?id=1052&source=1&commercial=
Oh and congrats keith..for the time you put in I hope those adds are doing well for you.
cheers!!
Your typical, high end, well educated Las Vegas realtor... may I introduce to you Scott from Exit realty, Las Vegas. Remember, what happens in Vegas, well, you know...
http://www.exitinfinitylv.com/images/scottluna_lg.jpg
Crock of shit.!
Lenders are being more tight than I can remember in 3 years..this is why no one is applying for a mortgage..also credit, and income are a big factor..about time.
Keith, You haven't saved me from making a bad decision, rather you have validated what I always knew, but what the herd has ignored.
Keith... fantastic blog... clever and far reaching... one sad fact to point out though:
Unfortunately your blog bubble will burst some day as well!
damn!
slodogg beat me to the joke!... not so slo after all. ;)
keith, enough with the fantasizing about making money as a blogger. is this any less delusional than what the bubbleheads thought in the late '90s and the maniac flippers are thinking today? this site is for losers, and don't you forget it. if the site were subscription based, we losers would disappear. if you went subscription, you'd have about 3-4 subscribers, all of them anon posters.
keep hp a site for losers!!!
you saved my butt! thanks man.. i'll buy in a few years when i can get 50% off specials!
Keep up the good stuff!
I have been a HP regular from PHX AZ since Sept.
With these kinds of numbers perhaps it's just a question of getting the advertising mix right. I've noticed Keith uses Amazon ads...
The tent cracks me up. Good choice.
Here are a few suggestions...
How To Manual
How survive the panic as a FAMILY
How to build grass huts
How to forage
Machete
Emergency Survival Kit for you and 24 Friends
High Drop Self Inflating Life Raft
Food for when the $h*t goes down
Any other suggestions?
Kieth-been comin round for alittle over 1week-Great place.I saved my own bacon.-to The Loser that means I didn't lose.Get back on the Titanic and make way for Antartica.Thats a winner for sure.Why don't you put your money where your mouth is and......Go long KB,Pulte,or better yet prove us all wrong and buy a Mc Mansion @ market with an ARM then Flip it right now.Maybe loser is a relative term,you and the flippers just lose alot more.We risk, we lose some ,we win some ,but we try to avoid obvious scams through due dilligence.If you go into a leveraged trade deal and don't even recognize it as such then you are only pretending.And that my friend is what millions i n this country are.
The FED is prepping us for another FED RATE HIKE !!!
Economy to weather housing storm: Fed officials
By Tim Ahmann
Wed Aug 30, 5:33 PM ET
The FED is prepping us for another FED RATE HIKE !!!
Economy to weather housing storm: Fed officials
By Tim Ahmann
Wed Aug 30, 5:33 PM ET
_________________________________
And look below for what the Koolaid Kid said in the article listed above. Are these Federal Reserve people living on this planet or what?
"Rising disposable incomes should enable household spending to expand at a moderate pace and provide continued support for the overall economic expansion," Federal Reserve Chairman Ben Bernanke said in a letter to a lawmaker released on Wednesday.
WHAT RISING DISPOSABLE INCOMES??? I guess for rich folks, if you're not in the upper 10% of wage earners, you don't exist.....
congrats keith. I've noticed the same rise of activities on my blog as well. I do believe the word is getting out!
keep up the good work!
Congrats, Keith! Keep up the good work :)
-Dragasoni-
I clicked a couple ads for you today, consider it a tip for job well done now get these damn house prices down!!!!!!!!!!!!!!!!
Keith,
You might consider posting a link to some sort of hotline as a way to help those who might actually be suffering depression, assuming either a crash happens or they get themselves into a Fargo-esque bind. There have been enough mentions of the possibility, and in another thread, someone took the handle "depressed" and mentioned suicide - a first warning sign they may actually need help.
From here forward, it might be that more of your new readers are bubble casualties, not bubble sitters. I'm not a mental health professional and don't even know where you might want to point those who need help. Just a suggestion.
Here's a good site to get ones brain wrapped around the social and economic implications of peak oil.
http://www.peakoilblues.com/
Dear Keith,
I am proud to be an HP Alumni.
I found you when I knew something was up in housing)and MSM was not talking about it, last August. I have visited first thing daily since and have watched as MSM finally "got it" within the last few weeks.
Thanks HP.
Boomer/Bubblesitter
PS, I also visit your sponsor sights. (:
PS.
My favorite stream (besides all of the posted knowledge and wisdom) was the HP poetry.
Boomer/bubblesitter
come on keith, you gotta be raking it in with all those amazon ads.
$5 a day google, and I'd say about 30 cents a day amazon
blogging doesn't pay, but to earn $5 a day for a hobby ($150 a month) is pretty cool. It's $150 more than I would expect
As a marketer I'm playing with what works - notice the new yellow background on the google ads? I figured out how to do the html to do that - pretty happy with myself on that one. And instead of the bubble books from amazon I put up stuff I'd want if the sh*t really hits the fan and I'd need to hunker down.
You know tents come with built in lights now? cool! And I'd buy a new ipod but they're too expensive here - have to pick one up in the US
You can buy a pre fabricated "Katrina House" at Lowes for $50,000.00 starting in Nov. It can withstand 140 MPH winds.
Prices for homes just went way down. (:
Katrina Cottages
http://charlotte.bizjournals.com/charlotte/stories/2006/08/21/daily33.html
"You can buy a pre fabricated "Katrina House" at Lowes for $50,000.00 starting in Nov. It can withstand 140 MPH winds.
Prices for homes just went way down. (: "
Can it withstand a 14 foot flood for 14 days?
The fed has already washed their hands of being responsible for the coming RE lead recession.
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