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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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34 comments:
If I were an oil exec, I'd be doing my best to fleece American drivers, too. I mean, why not? It's not like they're suddenly going to start taking the bus.
Just 1:
When did you go off your medication?
Nope. I already know that American housing patterns make us entirely car-dependent, and thus have permanently addicted us to oil. We will be fighting wars in the Middle East as long as there is oil to pump in that region.
No there should be no questions...
Amerikans worship oil.
Oil is our god.
And 20 inch rims define us as being morally superior to the other inhabitants of the world.
Nuff said.
Is America the new Rome? Empires are expensive and had to maintain. I don't anyone of us knows what backroom deals and moves have been made by our 'leaders'. One thing is for sure it's not so we all can participate in the American Dream. Can't you just feel the fear and anger in the streets? Oh well let's just check out what new with Paris Hilton....
May 24 (Bloomberg) -- Toll Brothers Inc., the largest U.S. luxury home builder, said fiscal second-quarter profit tumbled 79 percent as the weak housing market forced the company to write down property values and customer cancellations.
The company didn't provide an earnings forecast for the rest of the year because of ``uncertainty'' about the pace of sales, the direction of the market and possible future writedowns, Chief Financial Officer Joel Rassman said in the statement.
Pretax writedowns for land and cancellations totaled $119.7 million in the second quarter, Toll said. That was twice as much as the company forecast in February. Toll said May 9 that charges might be as much as $130 million.
Toll's cancellation rate on new home orders was 19 percent, down from 30 percent in the fiscal first quarter and 37 percent in the fiscal fourth quarter.
Inventory was $6.14 billion at the end of the second quarter, up from $6.1 billion at the end of fiscal 2006.
http://tinyurl.com/3xk5lh
What a mess. Clearly, they're beginning to fudge the numbers. The backpedaling is evident. The numbers are far worse than they prayed. So they take a house that's 99% done, forget to order the appliances, then don't count it as "inventory". No, no, those are raw materials or COGS until the last brick of crown molding is installed. Not looking so bad now! Inventory is only up like a percent. It's still good!
New home sales up 16.2%. You freaks were saying something about a housing crash...
damn, that first pic....density is almost as bad as in europe. us used to have more plotline, more space between the houses. this is simply ridiculous.
do you know where that pic was taken?
This may not say it all, but it sure says something.
Housing sales in April jumped by the biggest % change in 14 years, up 16%.
Nobody's buying houses anymore huh? Nobody can qualify for mortgages anymore huh? The economy will fall off a cliff huh? Sure thing renters, sure thing. Keep saying that to yourselves if it makes you sleep at night knowing you will never leave the ghetto apartment.
And hey what do you know, a new dow record yet again. You must all be really happy you sold off everything like your leader Keith instructed you too and instead bought gold. How's that gold doing these days? Up less than 3% YTD compared to 9% YTD for the dow.
Just one thing I have to say to all you renting losers out there
HA HA HA HA HA HA!!
HA HA HA HA HA HA!!
HA HA HA HA HA HA!!
Yes - how much have you lost so far on your short positions??
As long as Americans want cheap oil, but don't want to drill for it...
As long as Americans won't build any new refining capacity...
As long as Americans won't proceed on nuclear plant construction...
They will be led along like sheep by the Middle East
Bloomberg Reports ... Treasury Yields Rise to Almost 4-Month High on New-Home Sales
So... apparently the new construction homes biz firesale strategy is working.
Right you are, only Bush meets with Arabs. No other president ever has, certainly not St. Clinton.
http://www.saudi-us-relations.org/photos/images2005/leaders/leaders-05-0001.jpg
http://www.timstackpool.com/clinton20_.jpg
http://saudiembassy.net/Publications/MagWinter02/Images/9-Clinton.gif
Bingo!
.
.
.
.
.
.
.
Ya, I got one:
How did he get elected??
Free Market News
Thursday, May 24, 2007
Presidential candidate Ron Paul (R-TX) will be joined by Michael Scheuer, former head of the CIA's Bin Laden Unit, to discuss flawed American foreign policy and its implications on terrorism, security and Iraq.
The press conference will be held at 9:30AM EST on Thursday, May 24 in the National Press Club Lisagor Room.
During the "First in South" GOP debate, earlier this month, Dr. Paul stated that 50 years of interventionism in the Middle East is a significant motivating tool for radical Islamists. Dr. Paul's position, though disparaged during the debate, has since received backing from numerous individuals, including others in the GOP, administration officials and - in excerpted reports - from the 9-11 Commission itself.
In the debate, Rudy Giuliani, a presidential candidate and well-known former Republican mayor of New York, called Dr. Paul's position "absurd." Giuliani is commonly characterized as a GOP "front-runner." He is also considered well-versed in foreign policy, given his supervision of the "international city" of New York and his position as its leader during 9/11. However, he stated that he had "never heard such an explanation" as Ron Paul's.
According to a limited-circulation release, Dr. Paul and Mr. Scheuer are expected to explain why Rudy Giuliani is wrong on security and foreign policy and provide documentation about the unintended consequences of interventionism - known to many in the intelligence community (and Dr. Paul as well) as "blowback."
wow. They need to plant some trees or something.....
"New home sales up 16.2%. You freaks were saying something about a housing crash..."
Douche, it is a sucker's rally and the result of homebuilders lowering prices.
As a consequence, those trying to sell their existing homes will now have to lower their prices even more to compete with the builders. And, the builders will keep building and lowering their prices to compete with the existing homeowners. And the loop continues until the builders can no longer turn a profit and supply catches up with demand- which is a ways away.
And Finally, perhaps you missed this salient point, "But even with the April spike factored in, April sales came in 10.6 percent below year-earlier levels."
Still 10% down douchebag.
Now go finish that bag of dicks you were enjoying.
Wow you sound angry Anon 6:03am. Must have been another sleepless night in the ghetto apartment I take it. That constant gunfire keeping you up all night again can make anyone pissed off.
Remember, God hath commanded Americans to drive SUVs. Troops who die for oil will be rewarded with 72 virgins in heaven.
Kieth...
I have a question!
Do you think while Bush was holding his hand he was using his thumb to rub his palm.
RayNLA
HA HA HA HA HA HA!!
HA HA HA HA HA HA!!
HA HA HA HA HA HA!!
yeh ok, he who laughs last, laughs best....but in this case no one will be laughing.....it will be too sad for a people and for a nation and for a world...
Anonymous said...
Is America the new Rome?
May 24, 2007 1:25 PM
you may want to check out Chalmers Johnson's book Sorrows of Empire. i think it answers your question pretty well.
Home prices plummet by 10%
That's good for people who are currently RENTING and bad for the FB's who bought the past few years. The bitter renters are having the last laugh
That constant gunfire keeping you up all night again can make anyone pissed off.
Gunfire? Not in my neighborhood! Around here it's the sound of glass bottles being thrown, cans being kicked down the sidewalk, and fags yelling at their "girlfriends". Oh, and sirens ALL night long.
"New home sales up 16.2%. You freaks were saying something about a housing crash..."
Douche, it is a sucker's rally and the result of homebuilders lowering prices.
In the 2000-2001 crash, the share volume on the plunges exploded.
Even back then, nobody was SO dumb to call a record decline on high volume a "rally", sucker or not.
Is America the new Rome?
No.
Rome was good at war.
They came. They saw. They conquered. And the barbarians stayed fucking conquered.
For five hundred years.
Do you know that the Saudi embassy in DC is the only one to have a 24/7 special security from the American Secret Service, provided by Bush/Cheney at taxpayer's expense? No other foreign embassy in the US has such privilege. Pay up at the gas pump and provide expensive security, suckers!
"you may want to check out Chalmers Johnson's book Sorrows of Empire. i think it answers your question pretty well."
It's a great book. I love Chalmers!
I know they are holding hands, but who is the top and who is the bottom?
Now go finish that bag of dicks you were enjoying.
Dude,
snot came out of my nose.
that shit was funny
Cost To Refine Crude Oil
To Retail Gas .48 Per Gal
5-26-7
Back in 1980 the cost to refine, distribute and retail gasoline, or the refiner/marketer margin, averaged about 99 cents per gallon (in inflation-adjusted terms).
By 1990 it averaged more than 63 cents per gallon, and by 2000 the margin had declined to 54 cents per gallon. It increased briefly in 2001 as a result of colder than normal weather over the 2000-2001 winter and supply disruptions due to pipeline outages and the introduction of new blends of gasoline as required under the Clean Air Act.
The refiner/marketer margin has since come down to an average of 48 cents per gallon in 2005.
http://www.api.org/Newsroom/
testimony/senate-judiciary.cfm
nations go to war over real estate and resources. they like to dress it up and cloak the reasons behind philosopy, religion, etc. but in reality, that's the way it has always been and the way it will always be.
Smug
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