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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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38 comments:
FIRST!!
Let’s see who dumps the US Dollar first, starts the music and the stampede.
THIS IS CLASSIC:
Has Housing Bottomed In the US? Data and Fifth Grade Math Says NO
http://tinyurl.com/twcfc
Think that will be the understatement of the millenium once we move from the current prelude of bubble deflation phase to the full blown bubble burst that will hit in the spring.
Great post, Keith!
This is what sets you apart from the bubble blogging herd!
Huzzah! Huzzah!
Excellent montage Keith. Anyone remember this one?
http://tinyurl.com/y8bfo9
It's only going to get worse from here I'm afraid.
Classic supply and demand at work.
Lets say I have a stock tip and I tell someone.
He goes and buys it. Now I dont shut up right there. I keep on yakking and telling millions to buy (sound familiar - Charlatan Cheats, Robbing Alien who ever)
Everyone buys and it drives up the price. OK self fulfiling prophecy, and the first guys can make like bandits selling to the next million or so ... till it now has gotten too high ... and I am out of Idiots to talk into about buying. Boom the market is super high and no one is left ... and the millions that bought ... screw them, I am the guru, I am going to sell vitamins. After all the sheeple have to eat.
And finally Housing is worse than stock. You have stock that is bought with cash you have ... housing is bought all on leverage. Its costs you every minute and it costs you to sell, and it costs you in property taxes utilities and it just will suck you dry if you're not living in it. Not just opportunity cost of the money being tied up. Then when you walk away, the loss is eaten by the bank, you get dinged with the loan forgiveness which the govt hits you as if it was a capital gains income. We aren't even at the tip of the iceberg. The iceberg is straight ahead and we are stuck at full speed, and we dont have a rudder. But we haven't even touched it ...
Cool.
Cow_tipping.
That was Clinton's problem (or at least one of them). So many women running in and out of oval office your eventually gonna trip over one!
The photo at the top looks like the exits anywhere Rosie O'donnell shows up at....especially a all-you-can-eat buffet
HHEEEEYYY WHOOAAAA!!!!
The photo at the top looks like the exits anywhere Rosie O'donnell shows up at....especially a all-you-can-eat buffet
Fast forward two years from now:
Anyone who bought homes in 2004 will have lost 300k, with the constant news stories beating them over the head, reminding them of their purchases at the height of the bubble, decide to hand the keys back to the banks in droves knowing their "investment" will never recover in price to what they paid. Because now incomes must fit house prices by no more than 2x salary.
joey is a troll realtor asshole
Joey's scenario seems reasonable to me (maybe somewhat optimistic, though)
You mean paranoid white, middle aged, fat, bald men who think nazi web sites like Hal Turner and rense.com speak the truth? Hal Turner and rense.com is quoted all over the place here.
"the rest of us" who listen to talk radio like Michael Savage and G. Gordon Liddy. Shows that tell you the brown man (Arab and/or Latino) is going to kill you and fuck your blonde sister? And in between such crap sell you weight loss pills and subscriptions to gold newsletters?
That "rest of us"?
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I know Rush that fatass limbaugh, is one hell of a model citizen and a stand up american...that is where i get my news from...sales slow today in california.
Just Virgil GOODE's comments about the Koran swear in, discussed on MSNBC...the journalist from Washpost called Goode a 'LOONEY'. They discused all the outrage. The only outrage is that the MEDIA is so biased and anti-american that they don't even realize that 90% of americans agree with GOODE. Our nation is founded on Judeo-Christian beliefs that are found in the BIBLE....NOT THE Koran. Do you liberals in the media want NYC to be the next LONDONSTAN... call it NEW YORKISTAN. Keith, how is LONDONSTAN?
Oh and did the war on Christmas escalate some more today? Which store did Bill O'Reilly tell you toboycott today because they say Happy Holidays instead of Merry Chrtismas?
Target? Macy's? Best Buy? Kohl's? The list changes so often I can't keep up with it.
Wrong.
Our nation is founded on deist anti-clerical (i.e. anti-church) Enlightenment-era beliefs which are founded in Scottish, English and Continental philosophy of the late 17th and 18th century.
What does the US Constitution, the thing that you are swearing allegiance to, say?
The Senators and Representatives before mentioned, and the Members of the several State Legislatures, and all executive and judicial Officers, both of the United States and of the several States, shall be bound by Oath or Affirmation, to support this Constitution; but no religious Test shall ever be required as a Qualification to any Office or public Trust under the United States.
The Constitution itself is explicit when it comes to religion: STFU.
If TheAmurricanPeople demand that he swear on a bible and not koran, they are Unconstitutional ignoramuses.
great pictures!!! You should take your camera and go to one of those neighborhoods that have 20 open houses and arrows pointing every which direction.
Whole builder tracts butting up against each other are like that too.
joey,
The Trade Agreement with the US and China expires at the end of Dec. 06.
Frees up the friendly import tax environment the US importers have had with China manufactured goods.
The Dem's want to tax China's imports at 27% as punishment for keeping the Yen artifically low against the USD.
Then the SHTF.
It is a little more complicated the USD will or won't crash.
There is an international chess game going on now between Saudi, US and China. Who will Blink first? No one knows.
Don’t you guys get it????
I agree with flyingmonkeywarrior. China has had too easy of access to U.S. markets. China needs to keep its factories working. First they need oil and second they need U.S. consumers with no U.S. goods tax. They will get oil because they will pay any price. This makes the Saudis happy but not the U.S. If the U.S. puts a goods tax on Chineses goods and/or the U.S. consumer stops buying Chinese goods, China will be in a tough position. They may be forced to sell U.S. Treasuries if they don't like the dollar falling which could send U.S. interest rates soring, which would further hurt the U.S. economy and the dollar.
The Chinese always say they have faith in the American consumer!!! I am not sure I do. Especially if Americans wake up and realize will are self destructing with our over consumption.
Right, anon.
But the Saudi’s told China if they Dump the 1 trillion in USD holdings, in retaliation for the US Import tax increase by (Dem) congress, (which is a prediction, has not happened yet, but the stage is set as of Jan 1, 07),
THEN.
Saudi cuts of their Oil Supply to China. Ergo, Embargo.
That is the Saudi threat, anyway.
China is snuggly with Iran and Germany and Even Castro let the Chinese drill for oil off shore in the Gulf, 25 miles from Key West.
Next, Saudi will be pulling in a favor from the beholden US, in the form of "Please don't leave us with out your military presence in the Middle East.
Get it?
Thanks for the agreement, anon.
Whew, there are some stoopid people posting here.
Do you guys stay up late into the night thinking about these consipracies or do they just kinda pop into your minds randomly?
------------------------
"Saudi cuts of their Oil Supply to China. Ergo, Embargo.That is the Saudi threat, anyway.
China is snuggly with Iran and Germany and Even Castro let the Chinese drill for oil off shore in the Gulf, 25 miles from Key West.
Next, Saudi will be pulling in a favor from the beholden US, in the form of "Please don't leave us with out your military presence in the Middle East."
Cuba left Iran drill 25 miles off the coast of Key West?
Any source on that?
And by source I meant CNN, AP, Reuters, AlJazeera, not www.rense.com, wnd.com or Hal Turner
No, it is called research and connecting the dots.
Believe it or not.
Anyway, we have the front row seat here at HP.
Time will tell if I am on crack or just real anthropologist.
Now we watch and wait.
Y2K never happened and I have been wrong before. No ego or emo here, just a lot of reading, oh, and I do business Internationally.
We shall see soon enough.
iw
Cuba left Iran drill 25 miles off the coast of Key West?
_______________
No, Castro leased the Oil Drilling rights to China, 25 miles off of the Key West coast, in the Gulf Of Mex.
My sources:
A contact inside the Florida Government and the Orlando Sentinel, additionally, Rense.com posted the Orlando Sentinel article (fyi), which was buried on the third page of the news paper.
Both the Gov. friend and the Orlando local paper are MSM and "credible".
And you’re an Idiot. My source? HP
Yeah that is credible indeed. A source inside the government.....It's truly amazing how idiotic you are...well you are nazis so what can I expecy?
"My sources: A contact inside the Florida Government and rense.com"
"Y2K never happened"
And let me guess you still have 1000 batteries you stocked up on.
yah 20 million people cleaning toilets and picking fruit...you are right, they need to be stopped!!!
gtg now.
I got stuck in Chicago at the corner of North Av and Clybourn. There I realised I'd be fvcked if something disasterous happened.
Too many damn people. Too many damn condos.
U are wrong.
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joey said...
My 2007 predictions.
-The dollar will not be a big story and china is not going to dump our dollars.
**** China is worried bec the USD is losing value on it's own. Int rates are being held down to keep the housing bubble going and the ARMs at bay. That is causing the USD to lose against the Euro. Intrest rates will have to be risen to float the USD. That will cause the end of the RE bubble.
-Housing will slow more but the downturn won't be fast enough to cause a recession(except a few notable areas).
****** See above.
-Consumers will buy less but only little by little.
**** Wrong. consumers will buy ALOT less if their ARMs jump.
19-Dec-06 TOLL BRUCE E
Director 500,000 Indirect Sale at $31.62 per share. $15,810,000
north/clyborn,
your right, there is no hope of an orderly and timely evac. of chicago. density of population way too high.....instant gridlock. someone once said that every major city is just 3 days away from anarchy. if you keep 3 wks supplies you will have a better chance than most of being around when govt. assistance finally shows up. assuming ,of course, you survive the main event.
http://roccland.blogspot.com/
Warning;
Only the enlightned or those thirsty and open will like it here.
Richard Dick to Many has new blog.
just saying.
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