An HP Classic:
Are you ready?
August 24, 2006
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A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
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19 comments:
Ready? I've been wait'n years for this thing to crash, and now that it's here, it feels even better than I thought.
for the biggest economic meltdown since the great depression? not sure anyone can be ready for that
no debt, rent, all cash and cd's, and fearful of what is coming
New mortgage product attacked by debt experts
The interest-only loans, in which the repayment of capital can be deferred indefinitely, could result in children inheriting debt worth hundreds of thousands of pounds from their parents, mortgage experts said.
http://business.timesonline.co.uk/article/0,,9063-2326354,00.html
Why not you never have to pay it off
There was a line in Animal House, I think it was Bluto talking to one of his frat brothers after he got suspended or kicked out of school: "my advice to you is to start drinking heavily."
I'd say this would be timely for any FB's, realtors, small-time builders ...
Bring it!
I'm ready for:
- Bob Toll getting perp-walked in front of a media horde on arraignment day;
- Empty McMansions stripped bare by roving gangs, kind of like what happens if you leave a broken down Caddy in the South Bronx after midnight;
- Resolution Trust Corp., version 2.0
I've got to say, I thought I'd be sad for the people who were going to be hurt by the collapse, but instead, I think I'm enjoying this too much to worry about that now. Am I a bad person?
Ready - ??
That depends on what.
The complete collapse of the indutrialized world...
or this pesky housing crash??
www.lifeaftertheoilcrash.net
There was a man named Otto Young who once sold costume jewelry from a pushcart who became incredibly wealthy by buying up property in what is now downtown Chicago after The Great Fire there. He bought it on the cheap and made a killing in the three to four years it took for the city to make a rebound.
"incredibly wealthy by buying up property in what is now downtown Chicago after The Great Fire there"
Now, that's a true investor. Someone who knows when to buy and hold as oppose to the lemmings who try to catch a momentum run along with the flippers.
FOOD FIGHT!
I'm ready for the housing market to crash. I'm renting, my debt is very low (it will be all paid off by the end of the year) except for my college loan. We've also be saving serveral hundred dollars a month by renting, and are considering buying gold with the cash we're saving.
What I'm NOT ready for, as Richard mentioned above, is Peak Oil. Do a Google video search for Peak Oil, and you'll find lots of good clips on it.
-Dragasoni-
f*ck this is getting real really quick now
Me too timebomb except own not rent. You forgot guns, cash, gold, and dawgs.
I need to get in a position to be able to put my money in shorting after the election.
I've prepared as best I can, but I think the fallout from the housing bubble collapse is going to make my life harder anyway. Oh well.
I have no debt, own house (no mortgage) have bullion, and am mostly cash. I'm sure that some great shorting opportunities will be had, but great caution is required as the market seems a bit crooked to me.
"a bit crooked"
Just a bit? Shorting will seem like a great idea and if all was level on the playing field it probably would be. However, it will backfire because the govnmt will prevent you from profiting from it.
Google "Plunge Protection Team" before you short. Then at least you'll know why the market is behaving so odd when the SHTF.
Just got my paperwork ready for dual citizenship (prepping to reire where it's calm, nice and cheaper), sold my 2nd house, trying to pay off ALL debt and hopefully within two months do that straight out of Idaho shit and get my shotgun, full pantry and start looking at solar power----NO BS!
What's with the reports that the Fed will not raise rates in September? The economy is slowing down and the housing market is starting to tank.
Why would the Fed keep lowering interest rates? I don't see how that will spur more home sales, when inflation really starts to rage and the dollar continues to fall.
After readin' this blog I'm gonna to haf to git mah six shooters shiny and take up some shootin' lessons agin' so's I kin survive all this guts an' glory fightin' dats gonna be commin' our way. Ya reckon' they's gonna be many o' us lef' when th' shootin' dies down in them thar hills?
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