April 19, 2007
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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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20 comments:
Oh yeah it's just like 1932 out there with 4.5% unemployment. Sure thing Keiffer.
Holy Doom Captain Panic, the stock market hit another all time high today and Phoenix just had a record sale for a parcel of land yesterday.
What a nice day it is to live in Phoenix.
Anonymous said...
Holy Doom Captain Panic, the stock market hit another all time high today and Phoenix just had a record sale for a parcel of land yesterday.
What a nice day it is to live in Phoenix.
April 19, 2007 10:18 PM
...and your full of shit. Go back to your shitbox you uneducated troll.
A snippet from Richard's reading and Perry Arnett opinions.
A Commentary
by
Perry Arnett
18 April 2007
(May be freely transmitted with proper attribution)
.........the central banks of numerous nations have run the printing presses so fast and so long of late, that the world is awash with ‘liquidity’ (some 18-24% increase globally during 2003/2006), such that it allows false price-sensing for things like stocks and real estate; but few realize that the more dollars they hold the less they are worth; thus, there exists an intellectual disconnect for many between one’s real economic status/lifestyle, and one’s perceived economic status/lifestyle. This makes global economic collapse more probable than most realize.
http://roccland.blogspot.com/
Salt lake still seeing double digit #'s no gloom and doom. plenty of jobs. stock market up, jobs up, lots of money flowing.
I like the police on horse back. We'll see that again when gas is too expensive.
I love those old newsreels, as it's so dramatic. That old wino at the end was probably a wino BEFORE 1929, too. :)
You know, some people made ALOT of $$$ during the Great Depression, and alot of rich people became even richer. It's just that the average punter was left without a job when the economy slowed, and lost their home, etc.
FWIW, I see GE just hung it's subprime subsidary WMC out to dry by downsizing, leaving 700 unemployed in the wake (including the 460 they let go last month). Sure hope they didn't overextend on a house so they now cannot keep up their mortgage payments.
Not that 700 jobs may seem like alot of people to you and I, but if you're one of those people, I can assure you it's not a great day to live in Costa Mesa, etc.
WHY THE BURSTING OF THE
HOUSING BUBBLE WILL
BRING ABOUT THE MODERN 1930s
by Thomas P. Au, CFA
Author & Market Analyst
April 13, 2007
url; http://www.financialsense.com/
editorials/au/2007/0413.html
or
http://tinyurl.com/22am53
Holy Doom Captain Panic, the stock market hit another all time high today and Phoenix just had a record sale for a parcel of land yesterday.
What a nice day it is to live in Phoenix.
-----------------
Excuse me Mr. Investor..The stock market is actually crashing..if you add in Inflation (core) and the cost of things, just to break even the DOW would have to be 20,000..so STFU with your all time high quote..you look the ass.
Never happen - we are much smarter this time. We have options and derivatives.
A friend of mine that's been trying to get me to buy real estate forever is moving to NYC and is in the process of selling his California properties. He sold his Manhattan Beach place is less than a week for just barely under asking, and then just sold his Redondo Beach place for full price before it even hit the market. I couldn't bear to ask how much he made on the Redondo place, but I bet it was a lot. The Manhattan Beach place doubled in price four years. He bought the place in Redondo, a 30 year old condo in April 2005. So you'd think he would have lost money on it after transaction costs and maintenance - hell maybe he did. The point is he got full price without it officially going on the market. He wouldn't have sold at a loss, but I couldn't bear to ask how much he made.
I don't post here to rain on the housing bubble. I mean there absolutely is a bubble by every rational way of looking at it. Also, I have been the biggest cheerleader of this housing slump. It just seems that there is no end to the morons out there. And, if there truly is no end to the suckers, will this bubble ever burst? Isn't possible that one sucker sells to another one forever. Or, at least as long as we live. Could there just be a perpetual bubble supported by perpetually cheap money and perpetual greed?
It reminds of the ubiquitous belief in the 80s that bond yields would go back up to double digits. But, it's been more than twenty years and they haven't come close. In that case things really did end up being different. I just can't take it anymore. I'm tried of waiting for this thing to end. I've got at least 2 more years in Southern California. If things don't change soon, I'm moving to Denver to raise a family. Damn! it's like I've been priced out of my own state.
Now again we see why they changed the inflation accounting numbers and methods to not include housing prices or those t bills would have been paying out 35 percent a year interest for the last 10 years, the numbers were easier if the savers were screwed and ripped off, so when sambo says spend the sheeple better spend if they want to have anything of value left to sponge the dollar
Does anyone know when Sambo says save? and does it pay and return lost purchase power of the savers??
Dow almost up 10 percent from its year 2000 high. Purchase power compared to housing price???? and capital gains tax long term not even even yet
The Stock Markets have been dead since 2000 against everything except dollars which were dead against everything ,and anything.Hey anon,Go long a Flipbox,and some NDE OKAY.
Phoenix's record land sale price... was corporate shareholders money that went to the gov's skim jobbers, corporate shakedowners, and commisions scalpers and kickback facilitators scammers getting another well paid double dip insiderism trading cronyism payback corruptions, still a good price and bound to sky rise the local taxes
realy realy high priced!!!!!!! no terrorists here
'Upside Down' Home Sellers Owe More Than They Get
By Nancy Trejos
Washington Post Staff Writer
Friday, April 20, 2007; Page A01
[...]
"Five months later, I lose $100,000," Taylor, a high school teacher, said. "I don't think I can take $100,000 into the stock market and lose it faster."
That phoenix parcel was gov. land, bought with corporate shareholders money, probably leveraged, think of the kickbacks, skimjobbing, and higher local property taxes on what i assume was a paid for appraisal, surrounded by 800 sq miles of desert, con job rip off, and monkeyed commissions kickbacks
To all those who are cheer leading the ever newer highs in dow, try comparing it to something other than the ever falling dollar.
Dow/Gold:
http://tinyurl.com/2vwc9m
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