November 29, 2007

HousingPANIC Quote of the Day

"We haven't faced a downturn like this since the Depression"

- Bill Gross, chief investment officer of PIMCO,

22 comments:

Anonymous said...

True that

Eric said...

Dude relax the market was up 300 points it's all good.

borkafatty said...

Dude relax the market was up 300 points it's all good.

-------------

So eric (genius)were those actual gains?..and if so Prove it to me...not with speak...data.

It still amazes me how stupid people really are..i have made more gains playing poker, than this suckers rally...its all FED pump money...why in hell are people not seeing this....

I seriously need to start joining in on the game of sniffing whip cream cans like the rest in this country.

michael said...

i detected a bit of sarcasm in eric's text.

LauraVella said...

HA! He compares this point in time to depression era?

He's seen nothing yet.

Boom2Bust.com said...

I'm starting to come across more of this type of thinking in my research...

"Wall Street Superstar Predicts Worst Recession Since 1930s"
http://www.nysun.com/article/66268

Anonymous said...

So eric (genius)were those actual gains?..and if so Prove it to me...not with speak...data.

It still amazes me how stupid people really are..i have made more gains playing poker, than this suckers rally...its all FED pump money...why in hell are people not seeing this....

I seriously need to start joining in on the game of sniffing whip cream cans like the rest in this country.

November 29, 2007 1:47 PM

I agree, the central banks are flooding in money wherever they see a crack in the system. They have no master plan for this crisis and they cannot get out of it this time.

But going back 25 years I never understood why Americans thought an inflated NYSE represented wealth. After all any paper claim be it stocks, bonds, derivatives etc. is simply a claim against the real productive economy. The yields paid on this paper can only come out of "production and taxes", there is no where else this money can come from.

Production = wealth while the rest of this crap is just parasitical garbage.

Anonymous said...

Depression or not we still have Dancing With the Stars! Is this a great country or what?

Anonymous said...

"why in hell are people not seeing this....
"
Why? Simple, because most Americans (Sheeple) have their heads up their ass.

Anonymous said...

It's the DEPRESSION, stupid.

Anonymous said...

You know what happens when the US gets a sniffle - the rest of the world get cold.

TM said...

I think (hope) Eric was being sarcastic.

Anonymous said...

How long have you Doom and Gloom folks predicted the end of the world while you are hiding in your underground bunker with canned food around you? You folks never cease to amaze me. Sure, we might fall into a recession, even a deep one. But the world won't stop turning and no the world won't fall apart either. Get a life you losers.

Anonymous said...

grandma here-

Today the sales were up on new houses
728,000 from revised last month;
716,000. But before they were "revised" or before they decided to tell us the truth, they were 770,000.. So we see how that game
goes...

Where are we at really? (Besides the
outhouse)....If we get the real numbers on everything, how is it
really...

Anyone out there a statistician?
Or privy to reliable numbers?

Eric said...

I was being sarcastic.

Anonymous said...

The carnage is "hidden" it is in withdrawn money that used to pay for programs and is now racing into banking bailouts. Where? Check your kid's promise note from The State for College. If they promised $5K to pay for loans you will get a bill at the end of the semester for $2.5 and a "Sorry but that is all you will get". The rest went to bail out a bank. Also, any benefits are being revised down on your job. You can be sure of it. Less paid holidays, payless vacation and sick days. You take off it's on you. Especially if you are at the bottom of wages at minimum. They are getting nothing in benefits and what little they had are being taken away. Sure the market went up, but that is to pad it for the next big announcement of a downer. It will be Countrywide in the first week of December.

Anonymous said...

Prior to WWII, they used to call WWI "The Great War".

Maybe in a few years we'll be in GDII and the 30's will be called GDI?

Anonymous said...


Anonymous said...
grandma here-

Today the sales were up on new houses
728,000 from revised last month;
716,000. But before they were "revised" or before they decided to tell us the truth, they were 770,000.. So we see how that game
goes...

Where are we at really? (Besides the
outhouse)....If we get the real numbers on everything, how is it
really...

Anyone out there a statistician?
Or privy to reliable numbers?

November 29, 2007 5:39 PM

I am also happy to report the chocolate ration has been increased from 200 grams a month to 100 grams a month.

Sheesh.

Anonymous said...

Bill has a vested interest in a depression. When a depression hits his bonds go sky high. Listening to him is like listening to L.Yun about housing. Both are about as objective.

Anonymous said...

How's everyone's Y2K predictions? Same overhyped bullshit then as now. I'll bet on 12/31/99 while the rest of the world was getting their dancing shoes on, you fools were holed up with your cans of food and bottles of water waiting for the end.

You'd think you would have learned your lessons.

Princess Mononoke said...

Pkk grandma,

It's dizzying isn't it... MSMs & analyst talk in circles. They throw all of these figures at us hoping we only hear the last phrase new housing sales are UP 1.5%.

Most people don't pay close attention. But once you start you begin to wonder how long they had us all under hypnosis.

Princess Mononoke said...

Pkk grandma you can check out CNBC Realty Check for those numbers you were asking for... Diana Olick explains in detail how this all works. Keith has a link that will direct you to Diana's blog.