What were they thinking?
June 03, 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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32 comments:
They weren't
"Everyone wants to live in _____!" (California, Las Vegas, Miami, Phoenix, DC, etc.).
And, of course,
"Home prices only go up. They aren't making anymore land!"
But, really people just wanted to get rich quick, like always.
The sheep are hoping they just come for the fleece and not some chops...
#1 occupation for class of 2009 graduates: repo men.
That their REALTOR was telling them the truth
That if they didn't buy now they'd be priced out forever
They see greed.
Their wife screamed at them to buy a house.
"Fleece me"
Bitter RE specuvestors
What I was thinking 2002: Las Vegas is going to boom, I better get in.
What I was thinking 2005: Holy shit this is getting out of control, I better get out.
What I'm thinking in 2007: Damn I am one smart sun'v'a'bitch.
This is what happened at the height of the housing bubble in July 2005
http://cbs5.com/pets/contentmodules_sectiontopper6/local_story_189152109.html
They don’t think. They’re sheep. They just absorb all of the crap into the goo between their ears without question. Then they go and do what they were told like good little sheep not ever noticing that they have just been sheared.
“The point is that you have to work. And that's why the propaganda system is so successful. Very few people are going to have the time or the energy or the commitment to carry out the constant battle that's required to get outside of Lehrer, or Dan Rather, or somebody like that. The easy thing to do, you know, you come home from work, you're tired, you had a busy day, you're not going to spend the evening carrying out a research project. So you turn on the tube, you say it's probably right, or you look at the headlines in the paper, and then you're watching sports or something. That's basically the way the system of indoctrination works. Sure the other stuff is there, but you're going to work to find it.”
Noam Chomsky
....where's borka?
You can shear a sheep many times, you can only skin it once. Many of these FB sheep will be skinned alive.
Lloyd - New South Wales Lyrics
NEW SOUTH WALES
Here we are in New South Wales
Shearing sheep as big as whales, with
Leather necks and jaggy tails
And hides as tough as rusty nails.
When shearing comes, lay down your drums
Step to the boards you brand-new chums
With the rattum-rattum-rub-a-dub-dub
We'll send you back on the lime juice tub.
The brand new chums and cappy sons
Fancy they're the greatest guns.
Fancy they can shear the wool
But the beggars can only tear and pull.
Though you live beyond your means
Your daughters wear no crinolines;
Nor are they bothered by boots or shoes
But live wild in the bush with the kangaroos.
Oh it's home I'd like to be
Far from the bush and back country
Sixteen thousand miles I've come
To spend my life as a shearing bum.
Hahahahahaha!
Baaaaaaaaaaa!
Cool hand luke:
"people have to work and don't have time to do a research project. . ."
Agree - probably most people on blog sites have jobs that allow a lot of free time - although retired, I worked at a university for my career, and had lots of time to do research - the people I know who can manage their work time (self employed, contract workers, etc.) seem to be the most successful. . .Keith recommended the FOUR HOUR WORKWEEK - great book - read it in 5 hours! Author argues that control of work time is the key. . .
I think of the old saying, "life is a banqet, and most people are starving." It doesn't take a million to live like a millionaire.
I actually feel sorry for the sheeple - someone needs to slap them and shake them and tell them to wake up and think for themselves. . .
"Real estate only goes up!"
"2006 was the third best year EVER!"
What they were thinking is that...
I now have the "American" Dream, when they should have just concentrated on Martin Luther Kings!
RayNLA
mmmmm, grass, yumm,,,,,,
The expert PhD's with decades of experience told us it was a new paradigm for stocks in March 2000. They said companies were selling eyeballs. They told us that revenues and earnings didn't matter anymore. The sheep believed them and lost their retirement.
NASDAQ March 2000 = 5132
NASDAQ June 2007 = 2612
The NASDAQ would have to be at 6154 just to break even adjusted for inflation. So you're down 57.5% listening to the experts. Someone who put that money into 5% CD's at the same time would be up nearly 42% over the same time period.
Now a different gang of snake oil salesmen are selling their poison to the same group of suckers.
The sheep will end up like that zebra.
The "new paradigm" was being said in 1996 and 1997, not in 2000. Had you listened to the "experts" in 1997 you would have made a lot of money.
Same with r/e. The new paradigm was being talked about in 2002. Had you listened then you would have also made a lot of money.
The key is knowing when to listen and knowing when to stop listening. Had you invested in 2000 at 5% you'd be up 42%. Had you bought a few houses and sold in 2005, you'd be up 420%.
Making 42% return in 7 years is nothing to write home about, it's quite pathetic for someone who fancies himself smart.
This is livin' the sheeple dream (until the music stops and you're broke).
Baaaaaaaa... retards.
Cool Hand Luke said "They don’t think."
--------------------
These are people who never read, and have made their way through life, often with great financial reward, relying 100% on people skills. So they don't think for themselves. If you are emotive and good at listening/networking, you don't need to actually be capable of doing anything, finding things out for yourself, or ever having an original idea, yet you can be successful.
This accounts for America's becoming victim of her own astounding affluence. "They don't think" isn't quite it - it's mental laziness combined with social grace and a false undergirding, which, through short-sightedness, devil-take-the-hindmost attitudes, ignorance and greed, becomes real. Much to the chargin of bitter responsible, informed, civic-minded people.
So anonymous the troll finally admits that real estate has been overpriced since 2002, which is what everyone here has been saying.
New paradigm was not used in 1996 because the bubble did not really begin until 1998.
BTW - 42% gains over seven years is better than 57% loss over seven years. Only a fliptard realtor would disagree
Buy low and sell high. Right now it's high.
How many sleazy realtors and mortgage brokers were warning people about overpriced housing the past few years? None. They were squawking that real estate only goes up and it's never been a better time to buy. Now they're all saying people should have known it was too late. The entire REIC is sleazy and the brainless flippers who listened to them deserve to be fleeced.
Watch for the "I told you so" from the creeps associated with the REIC. They knew it all along and blah blah blah
You should place less trust in anyone associated with the REIC than you would with a used car salesman. Try asking a drug dealer if it's a good time to buy crack.
Welcome back anonymous troll. We missed reading you retarded tripe and lies. How did the open house go this weekend? Let me guess: You sold for a 25% profit after 6 months and you also get a 15% raise every year along with a promotion. How many vacation homes and Hummers do you own now? Congratulations for being so successful on the internet.
The newest paradigm from the PhD's:
Debt is wealth
Thinking had nothing to do with it.
Generally, they were thinking "they're not making anymore land", "renting is throwing your money away", and similar retarded bromides.
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