September 01, 2007

HousingPANIC Stupid Question of the Day

What's going to end up costing the US taxpayer more in the end

A) The Iraq Debacle

B) The Great Housing Crash


Anonymous said...

housing, like healthcare, is getting too expensive. i think the government should take over housing the american people. it is a right to have a home.

decaffeinated said...

Hard to say. In terms of human life, it will probably be the Iraq war. Given the lack of planning for an end game in that "war", there's an even chance that the Marines and US soldiers will be forced to fight their way out of the country.

What's even worse, if Chimpy McDumbAss bombs Iran, then the Iraqi Shia will turn Iraq into Fort Apache the Bronx.

Pat Buchanan thinks Bush will attack Iran.

If Pat's right, it would certainly pay to own a Prius.

Anonymous said...

Ron Paul explains the "Federal" Reserve's creation of the housing bubble with cheap money, and the bank bailout.

Anonymous said...

Iraq first and foremost in terms of human tragedy (death, disability, mental and emotional among both our servicemembers and Iraqi citizenry.)

Iraq has already cost the US an amount approaching 1/2 a TRILLION dollars (special appropriations + that portion of the DOD budget used in OIF). They are predicting the housing bust to be at the most to be something a little less than the S&L scandal which rumor has it cost the US b/t 300-500 billion. So in money terms Iraq, which is on going, will likely exceed the cost of the Housing Bust.

Anonymous said...

The housing debacle. The debt generated from it has been spread everywhere as investment products. The only problem being the underlying asset, the home mortgage, is going bust. So the debt market freezes because everyone now realizes there's a ton of sh*t about. With the debt market shut, how do things move? All cash? Who has that???

The power flush is coming people!

Anonymous said...

oh man this is funny. just last week you renting baffoons were talking about 50% off housing. how quickly things change. Is it starting to sink in yet? You will NEVER afford a home now. You will live in the 1 bedroom FOREVER.





Anonymous said...

Yes, us bitter renters have been screwed out of houses for a few years, but there's no comparison.

Iraq, formerly a relatively prosperous country (even under a ruthless tyrant), has been reduced to African levels of poverty. It currently has about 4 million refugees. Life expectancy has dropped dramatically.

The fiscal costs in the U.S. are about 600 billion, plus it will cost about the same amount for future medical care for veterans of the war.

Cheney and company have made out well though. The corruption is on an unprecented scale, but no lawsuits can proceed because the provisional authority have been ruled to not be a member of the U.S. government.

Anonymous said...

Biggest lie by Bush:

1) Mission Accomplished
2) It's not amnesty
3) It's not a bailout


Anonymous said...

"Renters will NEVER afford a home"

Think about that, troll. Who is going to buy your overpriced shit-shack debt-hole, then?

At least put a little effort into your taunts, you dimwit. Say something like: 'the gov is bailing out 80,000 foreclosures...that's nearly four percent! Yeah! Take that, renters!

Anonymous said...

Hey Dopey I give the Bush Adminastration as much a chance of fixing this as I do making a comeback.


s said...

How does one find an honest broker to invest in foreign currency?

Anonymous said...

I bought a brand spanking new Land Rover and am not going to make any payments at all.
Gonna drive it until someone takes it away, or I get bailed out.

Someone pleeze bail me out, I really like my new car!
If I don’t get bailed out it may impact my credit rating thus impact my contribution to the economy.
Were is Cramer when we need him, I would have expected another Cramer melt down to inform the world that I need a bailout.

Ra ra ra *sob*

tin foil said...

A trillion here, a trillion there, pretty soon it adds up to real money. The war in Iraq was "off the books" for several years, so most of the money used to fund it actually came from Asian savers.

IMO we are headed for a civil war in the United States over the issues of illegal immigration and power grabs by the federal government that usurp state's rights. The cost in lives and treasure will be 10X the toll of the original in the 1860s.

sweet potato said...

Free seminar coming to a convention center near you.
Speakers will be respectful international banker and financial CEOs
On how even you can get a bailout.
NYT bestseller ‘bailout 101’ will be available at the seminar for a limited time only
For $13,000.00 (free CD included at seminar location only)

PS this is a zero risk investment …
Full refund avail if you don’t get bailed out in 30 days.

Anonymous said...

Have you ever wanted to live the good life?
You too can own a private jet or a yacht or your own island.
And you don’t need to be the Saudi kings cousin

Please send 4 little payments of only $109.99 to
Bailout dad
666 fossil fuel drive

AmazingRuss said...

I think Iraq will win out in the long run. We are spending about $19,000/second there. That can run into some money if you keep it up.

Anonymous said...

Iraq - total costs will probably be over $1T. For comparison, the S&L debacle cost about $135B (probably about $250B in today's dollar).

Heckuva job, Republican voters!

Anonymous said...

Everybody in the world has been priced out FOREVER!!!


I will sell my condo for $40 million dollars and retire.

Lionel said...

Maybe we could kill two birds - with all the real estate agents dropping from the official ranks, pehaps they could be sent to Iraq - just tell them there's a housing bubble forming - Marines come home, agents go abroad. Semper fee.

Colonel Angus said...

C. Pulling out of Iraq and letting the Islamic Terrorists win

Pleiotropik said...

iraq is expensive in terms of long term sustainability since it will ultimately close the tap of crude of all the mid east towards the US. sooner if US decides to bomb Iran in the coming weeks, later if not.
The housing crash will sink the economic system worldwide.
I think it comes in as a tie. But since both will be happening more or less simultaneously it will be hard to distinguish one from the other. In any case, it is the end of the exuberant age.

Colonel Angus said...

All wars are easy, planed out to the T - with timelines, benchmarks, and schedules. The public should know exactly what are troops are doing. Since this is not the case we should withdrawl immediately from Iraq regardless of any positive results. The rest of the world will like us much better if we back down and talk to Iran and Al Queda instead of this fighting that just hurts American Islamic citizens feelings. A goodwill gesture to our Islamic friends would be to dismantle our foreign military bases in the middle east region and spend the money instead on Islamic churches or whatever they call those terror camps. Lastly we should remember Osama (not Obama)said we would fold so it is best we don't prove him wrong and piss him off.

GT said...

does it matter? i thought the $ was worthless? man this is confusing!

Anonymous said...

Probably housing because it will take a little thing called the economy with it!!!!

It will shut spending by the baby boomers down while they save at the last minute for retirement.

Look for all descretionary spending based businesses to get hammered. Best Buy, Harley, Lexus, Mercedes,BMW,Land yachts etc.

This country needs a ground glass and salt enema for being dumb enough to elect the worst President in history twice.

Natural Eyebrows said...

There is a moral cost to war that is not caculable in dollars.

You're right, Keith. It's a stupid question.

Anonymous said...

democrats will fix everything with a bigger bailout. send checks to everyone facing foreclosure. housing is a right, not a privelige.

lake dodge said...

Nationalized housing will solve this problem once and for all. Capitalism has failed and we should give communism a chance. Everyone will be pleasantly surprised.

Anonymous said...

None of the above.


Anonymous said...

No question about it! The housing meltdown will cost much much more as the massive amount of debt strangles a baby boomer generation's home equity which was to be their retirement.

The only thing that most boomers have left is social security and that may be in trouble as well if the dollar continues to slide into oblivion.

And what will probably be the biggest cost is how the psychological impact plays out on good folks who now wake up to the reality that they can't retire. They need to keep working but the jobs are being eliminated.

My advise to the boomers is to sell the nest, find a rental and start saving your money. You will need it!!!

Anonymous said...

C) The collapsed dollar.

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Anonymous said...

democrats will fix everything with a bigger bailout. send checks to everyone facing foreclosure. housing is a right, not a privelige.

Right on! why should someone be denied a house just because they don't make enough money to afford it????

Democrats would like the government pay for the following if you can't afford it yourself:

1) kids
2) healthcare
3) house
4) food
5) other essentials, electricity, telephone, education, etc

Anonymous said...

A Bush in office can only mean one thing "massive robbery" in progress.

How can so few...steal so much... from so many...for so long....?

Shakster said...

Lessee,by some accounts 600,000 dead Iraqis,only a few thou dead soldiers if you believe the pentagon,They hate our freedom,lenders love our money.HMMMMM.....The Pentagon had it all their way this time(as opposed to vietnam),even had Authority to wax whole cities ,and conceal it as they deemed necessary.Was considered a cakewalk before the start yet is five years ,and counting,can't find soldiers to take a few peas from the Iraqi kids ,and their blow guns.Iraq had no WMDs,no terrorist ties,and we are losing this friggen cakewalk to a bunch of kids,but Hey,the media has spun into a success for the Monkey,and the Dik.Sorry to monkeys.We even have an excuse for blowing away little children.Cuz they are hiding bad guys behind them.WTF-EVER.
Housing debacle has paved the way for indentured servitude though it will not be known by that description.Taxpayers are willing,even if they say they're not ,mostly because they SUCK!!The bankers are really Casino operators,and you can betcha the world will come-a-runnin back for another ass wipping to the bank accounts.
For the dooches the Housing Slam was a perfectly executed wealth grab,for the War Mongers- You have a new country to live in,and you made that bed so go lie in it,and keep your own fu3cking promises.Wars in Mid East LOSE,Bank/Housing Scam-Total Victory so far.

Anonymous said...

WAR with IRAN is fast approching.

Watch out for the next false-flag terror attack... comming soon to a state near you. Did you dig out your fall out shelter yet?

Anonymous said...



The Housing Bailout shall be limited to minorities who will fall back into the welfare system if not bailed out.