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.
stop the ride I want to get off
Roger Waters said it all:What do you get for pretending the danger's not real?Meek and obedient you follow the leaderDown well trodden corridors into the valley of steel.What a surprise!A look of terminal shock in your eyes.Now things are really what they seem.No, this is not a bad dream.From the song 'Sheep', Pink Floyd, 'Animals'
That was fun. It reminded me of playing WII golf, except in WII golf you get to the 18th hole. With this ride I kinda wanted to get to the score at the end. It left me hangin, and we still have a long ride down to anticipate.. . . . . . . . .insert date here :________
Great graph! Great ride! I threw up on myself!
I'm sick from just watching the video, but imagine how sick homeowners must feel witnessing the real thing!
Awesome, why no splat?
YEEEEE HAAAAAAAAA!!!!!!!!5-STARS!!!!!!I'm riding that it again!That last drop-off is gonna be ONE HELL OF A DOO-ZEE! Weeeeeeee!!!!Cant wait!
Great, I like the end.
OK, I'll be first. I am not one to laugh out loud to videos of any sorts. Thank you very much for the opportunity to change that and truely laugh :) That is the best portrayer I have seen yet! Does anyone see 75% of historic as very likely? Great ride. Yah right....
Ryland Expects Loss in 1QWednesday April 4, 7:12 pm ETRyland Sees Loss in Fiscal 1st-Quarter, Due to Charge, Lower Sales of Units http://biz.yahoo.com/ap/070404/ryland_outlook.html?.v=1CALABASAS, Calif. (AP) — The Ryland Group Inc., a homebuilder and mortgage finance company, on Wednesday said it expects to report a loss in its first quarter, due partly to a hefty impairment charge and lower sales of units.The company expects a loss between 50 cents and 60 cents per share, for the quarter ended March 31.That includes a $65 million impairment charge related to assets in Fort Myers, Fla., Phoenix, Southern California and Washington D.C.Ryland also expects to write-off $15 million in goodwill associated with buying California homebuilder J.J. Brock & Sons in 1986.Ryland also said its annual effective tax rate has grown to 39 cents from 37.5 percent, mainly due to the goodwill charge, which is nondeductible.Not including the impairment charge, the goodwill write-off and the change in effective tax rate, the company expects earnings will be between 63 cents and 73 cents per share.The company said aggressive pricing strategies have persisted in several markets, leading to the write-down of value of several assets.Preliminary sales for the first quarter fell 26 percent to 2,989.Shares closed down 65 cents at $41.25 on the New York Stock Exchange.
That is awesome.Scary, but awesome.
April 5, 2007 http://query.nytimes.com/gst/Plywood Found to Decay in a Few YearsA fire-retardant plywood that hasbecome a standard building materialin town house developments in thelast decade has now been found todecompose after only a few years,leaving homeowners and builderswith leaky and unsafe roofs andlarge repair bills.The plywood, called F.R.T.P., forfire resistant treated plywood, hasbeen used in the roofs of a million housing units east of theMississippi …The plywood was introduced afterfire codes were changed in theearly 1980's, just in time for thelong nationwide building boom.Now that the boom is past, worriesabout the plywood come on topof a glutted town house market,falling prices, and a rash ofbuilder bankruptcies. ….The culprit, according to ...theDepartment of Agriculture'sforest-products laboratory, is thechemical treatment of the plywoodwith organic and inorganic salts.But heat built up on roofs by thesun's rays - at temperatures as low as 150 F also sets off thefire-stopping acidic reaction thatthe wood's designers intended tohappen only at the temperatures ofan actual house fire, about 400 F.The heat and the chemicals attackthe cellular structure of the wood,weakening it. ….Before the plywood was introducedin the early 80's, town housedevelopments were usually builtwith two-foot-high masonry parapetsextending above the roof linebetween each house. The new plywoodallowed builders to eliminate theparapets by using four-foot-widepieces of the plywood on eitherside of a fire wall. ….everyattached-housing development withsmooth roofs built east of theMississippi since the early 80'sprobably contains the material.
So how will the GF's who bought that $800K McMansion feel when they find out that their neighbors bought a similar house in foreclosure for $400K? This is just like the NASDAQ. The first ones in and out made a fortune. The last ones get screwed. The ones who bought early and didn't sell will lose all their paper gains. Those on the sidelines watch the show and preserve their capital to pick up the bargains.
I watched it with my 10 year old he thought it was great too..... that ending is a little scary so wwwaattcchhh ooouutt.......
See? We're at a new plateau. This coaster will never come down, I tell you.
In the 1940's the market spiked over 57%, and sustained that level for 50 years (until the current boom).I'm not saying there isn't a housing bubble, or that prices aren't going to decline, but if the current sustained upward shift, matches that that happened in the 1940's, the current post peak sustainable level would be around 172.
I was waiting for the ride go reach the clouds that whould have been cool
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