How do you think this guy's 2006 performance review went?
January 15, 2007
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26 comments:
He didn't do too bad......aside from some pockets of the country that were over valued, the slowdown in housing didn't bankrupt the economy. In fact the DOW went up almost 2000 points last year.
I think it went fairly well. He was able to spin spin spin in the face of absolute disaster and the MSM followed right along.
Let's just say he managed to spend $40 million dollars of his idiot followers money to create the illusion that "although the fight in the trenches is brutal, he's fixing it for them."
3% national downturn...DISASTER!!!
3% didn't include the massive builder and seller incentives
Try 10%
I think he'll be moved out (forced out) soon, just like the Home Depot guy
He's doing exactly what he was hired to do, and he's very good at doing it.
He's basically helping to keep people buying tickets for a cruise on the Titanic AFTER it's hit the iceberg.
Just because I disagree with his message doesn't mean I can't recognize a master at work. If he were any less proficient, the ONLY thing you would be hearing about in the mainstream media now would be what a disaster the housing crash is.
Resale prices are down 3%. Builders don't give incentives on resales Einstern.
---------------------------------
3% didn't include the massive builder and seller incentives
Try 10%
Anonymous said...
3% national downturn...DISASTER!!!
Yes. NAR said that a 5% downturn would be considered a disaster. If we are down 3% nationally and well over 5% that in bubble areas with only six months into a multi-year downturn, it's a disaster.
I agree with anon on top who wrote about the DOW going up about 2000 points but he does know that the Dollar has lost alot of it's value since 2001? Not going to quote #'s I don't have on hand but I would assume the dollar has lost about 1/4 to 1/3 of it's value. So yeah you made more paper $ but the rate of loss of value is larger.
I have this arguement with a friend all the time as he brags about his earnings in PAPER while I tell him "Man if this was like 1960 then hell yeah you made $$$ but at this time we seem to be trying to catch up to some weird inflation mixed with devaluation"
Hate and love to sound like a kook but I'm buying stupid stuff for a rainy day (guns, ammo, camping gear, looking at a generator, food, water etc) Will it get that bad? Most likely not but if the currency one day does fall like it fell in Mexico in 1985-86 Americans will freak...alot don't have the street savvy or prepareness to make it more than a month before they are wiped out
I have all these friends who keep on talking about "The system will never crash" and my favorite "Not in my lifetime." What a complete selfish look of things.
Think about it if $$$ loses it's value, why work? If you don't work and have no skills and have a family what will happen? You have a breakdown in society...in Mexico the only reason it survived was most of it's coins were in silver and still and had some worth and most food staples and vital needs are under state mandated limits (Gas, water, electricity etc)
I love America but we have got blind and soft that's why shit happens and we look around all stupid and then forget...
Less than 2 1/2 years ago the 10th largest city in the US was wiped off the map, deaths unknown, it was like something out of a sci-fi movie with roaming gangs and dirty cops, yet we all just watched then forgot, reconstruction is full of fraud on borrowed $$$ that your kids will pay some day AND no one has been arrested or held accountable...one of many examples but it doesn't even matter anymore...the people have turned to sheeple so fuck em...hope my ramblings maybe woke someone up...
"In fact the DOW went up almost 2000 points last year."
The inflation adjusted DOW isn't that great! If you apply inflation to the DOW,....
That said, I think that David did what he was paid to do, keep the kool-aide bowl full.
Folks, like me, didn't lose or gain respect for him since we didn't pay attention to him in the first place.
My grandmother sees him on TV and prays with him that housing values go up because higher home prices mean her grandchildren with houses will make a big fat profit-- it's almost like she's betting on race horses.
I try to explain to her that inflation isn't good for people with fixed incomes but she doesn't seem to understand that. Like most Americans, Pavlov was right and a litte $$$$, no matter how devalued, makes the heart jump through hoops.
Thus, I predict David will get a "big fat raise" for tugging the heart strings which were connected to the purse strings that made a lot of folks wealthy, real estate frothy and fun...
i.e. many people drink despite hangovers; many people smoke despite lung cancer!
Is it me (and trying not to sound offensive), but doesn't David Lereah look completely and utterly FLAMING GAY in that photo?
Seriously, he looks like he just got back from a sauna up near the Castro in San Fran.
I guess if you consider convincing millions of Americans to buy homes they can't afford he did pretty well. If you consider what will be the aftermath of millions of Americans buying homes they can't afford, ie.. housing recession, bankrupt borrowers, overpriced real estate, looming economic recession, collapsing U.S. dollar, not very good at all!!!
Anonymous said...
3% national downturn...DISASTER!!!
Monday, January 15, 2007 7:13:28 PM
WTF?!?!?!?!?
Housing NEVER goes down, remember?
Housing went down 3% and historically it goes up 4-5%. I would say an 8% swing in the norm is pretty important.
And that is only Year #1 of the correction. Even if housing stays flat for 5-10 years in non bubble markets, that is still the equivalent of a very big correction.
Anyone who has to sell after less than 5-10 years will lose at least the 6% it takes to sell their house. And that is 6% of the total value of the house, imagine what that loss is as a percentage of their down payment.
He should get 100 million dollars in stock options.
He should be castrated and forced to face the public as they stone him and urinate on him.
3% -- for six month, 6% per year -- times 5 years = 30% -- yeah, that's about right.
Bad enough to merit at least a $10 million Golden Parachute....
Some people take their short lives here on earth and try to make it a better place.
Then there's David Lereah
I wonder if they mentioned that he now has blog devoted to tracking him.
David Lereah Watch
>>Amarulaman said...
Whats with the smarmy look on DL's face...bizarre picture.
Tuesday, January 16, 2007 1:06:01 AM<<
Nope, no distortion involved. He ALWAYS looks like that...
3% national downturn...DISASTER!!!
Please remember that Bush is flooding the economy with dollars instead of taxing Americans to pay for the war.
You might want to read this:
No Way Out: A Fifty Percent Dollar Devalulation
It's an interesting read.
It made me wonder if we're trying to control oil just so the world's biggest currency is backed by oil... Even more astounding was the revelation: if we found an "alternative energy," what value would the dollar have because, all of the sudden, "poof"-- the vaccum cleaner for dollars goes away and we're left with dollars that need a home-- so inflation and chaos reins yet the dollar is useless because there's too many of them.
Maybe the housing bubble was engineered to trap US dollars. If housing crashes, liquidation reins!
I shouldn't have read the article I linked to!
"Consistently Exceeds Expectations" - for being a loyal shill for the REIC...
"Please remember that Bush is flooding the economy with dollars instead of taxing Americans to pay for the war."
Is it all about plugging gold all the time Keith?
He's paid to flog it ... and he flogs it well.
Don't shoot the messanger and all that.
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