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Treasury Secretary Henry Paulson delivered an upbeat assessment of the economy, saying growth was healthy and the housing market was nearing a turnaround.
"All the signs I look at" show "the housing market is at or near the bottom," Paulson said in a speech to a business group in New York. The U.S. economy is "very healthy" and "robust," Paulson said
34 comments:
I guess TCDL is his new speechwriter?
Didn't Bush declare "Mission Accomplished!" in Iraq a few years ago? And we see how well HIS prediction went....
Henry Paulson is a committed christian. A Christian Scientist.
Isn't it sad how even people like him, who you would expect to be so principled, are prepared to sell their souls in their grasp for power.
Well "all the signs I look at" are For Sale signs, Henry.
He thinks he can stop the Housing cash hemmoraging the way Moses parted the Red Sea, speak it and they will listen and start buying homes again.
Their spin/words can only distract the masses from the gravity of the reality of the mess for so long. The Silent Spring of 07 combined that will result in a Summer/Fall collapse in the Housing market (homebuilder bankruptcy/mergers to survive, a foreclosure tsunami, the compelling need for a bailout in the 100's of billions and a GDP contraction due to housing/mortgage market "spill-over" (which is just more spin) while inflation continues to rise will case "stagflation". Stagflation in the 70s/80s had to resolve itself because the gov't cannot counteract this phenomenon. It took a decade to resolve so we need to expect that for the next decade. Good luck.
I've heard something like this before. Translation: economy weakening substantially and the housing crash has just begun.
puppets on the stage.they do not want the suckers to get out of the market yet.....watch as they drive it to 14000.....all those people with their retirement savings in those mutual funds......my my......it is called fleecing the sheep. and the fleecing is about to begin.
Is the man a fool or a shill?
His record thus far indicates that he is not a fool, therefore.........
Ben, don't forget "we will be greeted as liberators."
The United States BORROWS 2 BILLION A DAY because it can NOT pay its bills. Some strong economy. The only way the housing market is comming back is if interest rates come down or housing prices come down.
Lying Sack of Sh@t!
I said it and I feel so much better.
#1 to remember about Paulson: He cashed out big time when he left Goldman Sachs.
This is the same idiot who belives in a "STRONG" US dollar.
HAHAHAHAHAHH ROFL!!!!!
Watch what THEY DO, NOT what they SAY!
When they quit calling the bottom in a few years. THAT is when the bottom may be in. Personaly I give it at least 5 years.
He could be right. It could be one of many false bottoms required to extract all that excess cash.
The market believed him when he made that little speech. Prices were declining nicely that day on the HB's and then I had a WTF moment when it did an about face.
:A Christian Scientist
Isn't that a form of faith healing?
If so then it's consistent with fortelling market bottoms w/o proof.
When the prez has to trot out the Treasury Secretary to say everything is A-OK, that's a sign of panic.
What signs is Paulson looking at to determine we are near the bottom of the housing market? The skyrocketing home inventories and foreclosures? The subprime and Alt-A lender meltdowns?
We're only getting started, Henry!
For the record -- "Christian Scientists" are NOT Christians. They think highly of an alternative "Bible" by Mary Baker Eddy, which is its own kind of wackiness. They are not to be confused with "Scientologists".
"All the signs I look at" show "the housing market is at or near the bottom," Paulson said in a speech to a business group in New York. The U.S. economy is "very healthy" and "robust," Paulson said.
Apparently he missed these signs:
DEAD END
DANGEROUS CURVE AHEAD
ROAD WASHED OUT
SPEED BUMPS AHEAD
PREPARE TO STOP
V.L.
John sez:
Hank Paulson -- the doctor of my dreams -- with those crinkly blackened eyes that seem to whisper "FIRE - WALK WITH ME."
http://tinyurl.com/3ayk46
Anon 9:50:
Sorry, `not seeing the link between Christian Scientist and "moral" there. Please clarify.
Isn't that the same thing the Communists in the Soviet Union would say every year?
Oooh, apocalypse now!
1) Henry Paulson was revoltingly paid CEO of Goldman Sachs and now Treasury Secretary, and he wasn't even Jewish!
2) Diesel fuel fire (Diesel == Jet fuel plus lubricants), indeed DOES melt steel and result in catastrophic collapse of concrete-steel structure! Even with dark smoke!
What will happen to the brains of the conspiracy morans now?
At least we'll always have Darth Cheney to kick around.
BULL BULL BULL
Shit, I just wish prices would at least START to come down around here.
This white house brings new meaning to;'home of the whopper'!!!
They will go down in history as the administration that; 'left no lie untold'. LOL
As Bill Cosby once said "Yea Right" (emphasis on the Right).
Just two words, "Wishful thinking".
Maybe they are trying desperately to delay the recession until after the '08 election, good luck with that.
They have the ear of God. They are very smart too. (vomits)
These liars-for-hire are nuthin' but PR spin-doctors selected from the Banking Cartel/Global Corporate Piracy Club that would torture their Mommas for a stock option.
Remember, this same club picked Dumya Bush II to be the PR puppet for the War machine...DUH!
Quick interpretation: The RE crisis has started to gather steam and will bring this nation to its proverbial knees.
Perhap, just perhaps, the middle class will wake-up before their sleeping in the streets, refuse to believe ANYTHING the DemonRAT/GOPher parties spew out of their pleasure orifices and put REAL public servants in office.
Somehow I doubt the human race has the combined brain-power to pull off another 1776, but hey I'm sure the first King George thought that too! ;-)
Another Dikhed.Bet america buys it for the 15th time running.Who's that turd next to him?George Who?
It takes a willing country to let it all happen though.
Paulson is just a shill for Wall Street. He knows things are bad, but is he supposed to tell everyone that the sky is falling? Wall Street or Washington DC have no credibility
Prices in bubble areas must drop by over 50%. Prices in other areas will remain flat to down for at least 10 years.
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