November 07, 2007

HousingPANIC Stupid Question of the Day


Has the world lost trust in the United States of America - our government, our institutions, our currency and our people?

Can we ever win it back?

65 comments:

Peter T said...

The US has overextended in the past years, especially with the Iraq war. The US is still a considerable power in the world, but its upper body must relate to its relatively shrinking economic base.

Anonymous said...

YES and NO

We've partaken in the excesses that usually occur in countries with corrupt systems. Some would say we are corrupt, but relative to most in the world we have more integrity & transparency which leads to a more stable place to invest.

On a whole our system is still solid, but we need to go through a painful weeding out process and to put new laws/regulations in place that COMPLETELY outlaws all this "off-balance sheet" BS that supposedly was outlawed by post Enron regulations.

The very concept of "off-balance sheet" investments is bullcrap. If it was off balance sheet then why are you still suffering losses because of it? Its on the balance sheet because your responsible for the losses that flow from it, its just that you do not have to legally report it!!

Once and for all when we are fully transparent and stop all these games then investors will return. Until then we are just another banana republic!!!

Anonymous said...

Yes

No, not unless the USA elects Ron Paul

Anonymous said...

You sound like John Kerry. Who the fuck cares what the world thinks? Seriously. I could give a fuck what Londoners or Parisians think about what's happening in America. I don't tell them how to run their lives, I don't care to hear their opinion on my life either.

As for the economic decline. Ask yourself this: How many Americans move to other countries vs. foreigners moving to the US? That is your vote of confidence right there. The day more people emigrate from the US compared to immigrate to the US, then I'll start worrying. Until then, I think we're OK.

got Constitution? said...

ditto...

"not unless the USA elects Ron Paul"

Ron Paul r3VOlution

Anonymous said...

I don't know how Bush could have done more damage in such a short time and to think he's not done

consultant said...

The question isn't big government vs. small government. The point is to have good government. That means it's adjusted to meet the needs of citizens. This issue has been around since the Revolutionary War. Some issues require a big, sustained response, some issues-short term responses, and other issues are left to the private sector and what we've come to call NGOs.

We're a big country now with a level of infrastructure and interdependence that requires a fair degree of rule setting and oversight. The notion of going back to a quaint, 'small' government is delusional. We would unravel as a nation. Some people might actually want that.

Can we regain our balance after the disastrous Bush years? Yes, with prudent leadership. It will be tough going for a while. As we now stand, a wise leader might only last one term. The next President is going to be sailing into a strong head wind of hard choices.

We have become such a baby nation, I don't know if we have the capacity to select wise leaders anymore.

If this is true, it means we are deep trouble. Trouble far bigger than the criminally instigated mortgage meltdown.

Anonymous said...

You sound like John Kerry. Who the fuck cares what the world thinks? Seriously. I could give a fuck what Londoners or Parisians think about what's happening in America. I don't tell them how to run their lives, I don't care to hear their opinion on my life either.
----------------------------------

right on. I don't understand this fascination in making other countries happy.

Is everyone over there in the UK going around asking "what can we do to increase American confidence in the UK?"?????

Perhaps they are. If so, that is their problem.

Anonymous said...

You be the judge

http://www.washingtonpost.com/wp-dyn/content/article/2007/11/07/AR2007110701487.html

bryce in canada (Vncvr & Clgry bubbls) said...

Confidence is a matter of degree, it isn't a yes/no proposition.

The world is recognizing that the US economy is in a very bad state at the current time. It has less confidence in the US economy than it had 2 years ago, last year, or earlier this year.

Anonymous said...

Anon 6:49 PM said: You sound like John Kerry. Who the fuck cares what the world thinks? Seriously. I could give a fuck what Londoners or Parisians think about what's happening in America. I don't tell them how to run their lives, I don't care to hear their opinion on my life either.

When your nation has to borrow 3 billion dollars a day from the rest of the world just to stay afloat you should care about their opinion.

Anonymous said...

We will come back again... it's going to take time and alot of pain to fix this mess.

Anonymous said...

No, nobody will ever believe the US, never. Everybody knows that the US is nothing but smoke & mirrors. Everything in this country is a farce and rigged. Oh, and that pathetic "superpower" title, only hicks and sheeple believe in it.

Anonymous said...

As for the economic decline. Ask yourself this: How many Americans move to other countries vs. foreigners moving to the US?

You mean all the poverty from third world countries who don't know any better? Wow, that's a vote of confidence.

borkafatty said...

OT:
I guess even rich folks who pray on little children are not immune to this housing downturn..

Neverland in Forclosure

http://www.luxist.com/2007/11/07/neverland-ranch-is-in-foreclosure/

shtove said...

Will never lose trust in the people.

Anonymous said...

Anonymous said...
You sound like John Kerry. Who the fuck cares what the world thinks? Seriously. I could give a fuck what Londoners or Parisians think about what's happening in America. I don't tell them how to run their lives, I don't care to hear their opinion on my life either.

As for the economic decline. Ask yourself this: How many Americans move to other countries vs. foreigners moving to the US? That is your vote of confidence right there. The day more people emigrate from the US compared to immigrate to the US, then I'll start worrying. Until then, I think we're OK.

November 07, 2007 6:49 PM
------------
I'm leaving right now!!

Anonymous said...

Anonymous said...
I don't know how Bush could have done more damage in such a short time and to think he's not done

November 07, 2007 7:09 PM
-----------
Agreed, unfortunately.

Anonymous said...

Yes Keefer you are correct. The US is dead. Europe is the place to be. What with 10% unemployment and yearly riots by muslims in the Paris suburbs. Indeed a better way to go.

captainocaptain said...

no, the US won't get back it's respect, that's not in the plans. we're being sold out... just like the native americans were sold out for pennies on the dollar....

Anonymous said...

"I don't tell them how to run their lives, I don't care to hear their opinion on my life either."

Sure, but your government DOES tell them how to run their lives. THATs the issue.

Anonymous said...

GOP GREEDY OLD PARTY

Nimesh Patel said...

Why is this blog so down on America? Why are so many posts on this board anti-American?

America is still the largest economy on the world; 13 TRILLION DOLLARS! The world will continue to invest in America and capital will continue to inflow because there is no other viable alternative. The Doom and Gloom crowd has made this argument so often in the past and every single time they are proven wrong. Oh, I forgot, they will say IT'S DIFFERENT THIS TIME.

What other nation on this world even comes close to America's military and economic might? Name me one other country Mr. Housing Panic?

Sure, the real estate boom was an actual bubble, I won't deny that. But our economy is resilient and it will balance itself out. The housing market will go through a correction, recession, or whatever else you want to call it and prices will adjust to what they should be worth, but please don't be such an ALARMIST Mr. Housing Panic, but oh, I forgot, that is how you make a living; by being an irrational ALARMIST.

You watch, in the next several months and years, this blog and like minded people will continue to say "oh, the sky is falling..." while the all might American economy will continue to prosper!

Andrew from Russia said...

1. Not yet - it seems there's just no limit on losing confidence!
2. Yes but that won't come easy. If your IPTV or satellite dish receives CCTV or "Russia Today", you can glimpse at what it takes for government-funded media to promote the nation as civilized, credible and innovative. Whitewash of that kind barely works for the exploitive Consumergoodsfuehrer and the scary Oil Monster (or so we are regarded), and no chance it will work for the post-Bush States - we've seen enough pictures of those skyscrapers, F-16s and iPhones, we've already copied them to some extent. Get creative!

Anonymous said...

Yes, in order of

1) currency (thank you bernanke)
2) government (thank you bush)
3) institutions (thank you moody's)
4) people (thank you religious right)

anon666 said...

anon 6:49 said "You sound like John Kerry. Who the fuck cares what the world thinks? Seriously. I could give a fuck what Londoners or Parisians think about what's happening in America."

Thank you for so brilliantly proving the point being made here with this self absorbed, f*ck you (middle finger salute) attitude conveyed by the U.S. leadership and many of its citizens. Me first and f*ck you!

And by the way, I don't give a sh*t what you think of my post and besides, f*ck you! (sarcasm off)

Anonymous said...

The fact that we:
1. are having a discussion that is openly self-critical of the country of our births (no slight intended to those on the blog who are immigrants)
2. that we can and have for the past two years openly "dissed" those who hold leadership roles but failed to effectively lead
3. that our economic system is underway with the inevitable re-balancing act free market systems must endure from time to time (teeter-totter where supply is on one side, demand on the other and the fulcrum the board rests upon is called "price")

is proof to me that the U.S. is down but it won't be out. From an historical standpoint, this is nothing. To date, the worst period of history for the U.S. was the Civil War and we are no where near that level of despair. USA! USA! USA!

Anonymous said...

You can thank BUSH/CHENEY and the 49% of the emotional/stupid electorate that put them there for destroying any and all crediblity that this nation once had.

To add insult to injury, we are learning that the Bushes plan to retire in Paraguay and the Cheneys plan to retire in Dubai!!

Are they going to take along the 49% emotional ignoramuses with them also?

Frank@Scottsdale-Sucks.com said...

It's the "people" part that disturbs me -

In my business over the last 4 years I've seen a major increase in the number of scammers who try to get something for nothing. People order products then dispute the charges claiming non-delivery even though we have tracking to prove it was delivered, people buy a product on a 90-day return policy then demand a refund a year later and threaten to call the FTC and Attorney General if we don't bow down, people demand that we send them my books for free instead of selling them and threaten to sue when we don't comply....

And on and on and on and on.

Recently I had a customer buy a $500 product on a 60-day return policy and she sent it back 4 months later, damaged (you could tell she photocopied the manuals the way the pages were all bent back). When we refused a refund she disputed the charge, we won the dispute, she re-disputed, we won the re-dispute and her c.c. company closed the case, now she is filing complaints with the BBB and everyone else. Just because we refused to be scammed by a thief.

The "looter" and "moocher" mentality and the something-for-nothing disease is really taking over this country.

Things will not recover unless and until people re-learn the concepts of work and of not deserving free handouts and things you have not earned.

The credit free for all and subsequent "please bail us out!" crap is a prime example of this.

devestment said...

I believe there will be lots of pain in the adjustment which will be followed by a very strong dollar. I am buying worthless dollars with gold incrementally in the climb.

Test your resolve with the following statements...

a) I am betting against the USA because they are a powerless failing country. I am converting all my assts to gold and silver and moving to another country.


Or…

b) I am betting on the USA. Sure the pendulum of bubble assets and currencies swing wide in the land of opportunity. I still am sure that the countermeasures taken to strengthen the dollar will provide yet more opportunity as the dollar regains its thrown.

The big sucking sound you are hearing is asset and currency deflation in all sectors. Money availability and assets are shrinking in tandem. There is no doubt that at the bottom you will find cash is king (US DOLLARS and other cash instruments). The countermeasure of inflation is high interest, it is unavoidable.

we are so screwed said...

How many Americans move to other countries vs. foreigners moving to the US?

I have moved my money overseas and I just filed for a passport so that next year I can move _me_ overseas.

Sadly, I have been bitten by the "Look Out For Numero Uno" bug that is taking America by storm :(.

devestment said...


No, nobody will ever believe the US, never. Everybody knows that the US is nothing but smoke & mirrors. Everything in this country is a farce and rigged. Oh, and that pathetic "superpower" title, only hicks and sheeple believe in it.


SMOKE AND MIRRORS THIS....

Minuteman III ICBM (LGM-30G)

Peacekeeper ICBM (LGM-118, MX)

Ohio-class (Trident) SSBN

Trident I C-4 SLBM (UGM-96)

Trident II D-5 SLBM (UGM-133)

B-52H Stratofortress

B-1B Lancer

B-2A Spirit

ALCM (AGM-86B)

ACM (AGM-129)

B53 gravity bomb

B61 Mod-7 gravity bomb (strategic)

B83 gravity bomb

Tomahawk TLAM-N SLCM (BGM-109A)

B61 Mod-3,-4,-10 gravity bomb (tactical)

Plus 303,312,557 squirrel hunters with guns.

Anonymous said...

The problem is that the U.S. is actually an Empire and the population here just cannot face it! Ours has to be one of the strangest Empires in history. We maintain almost 1,000 military bases around the world and our economy is dominated gigantic global corporations but even our most educated citizens are monolingual and have very little knowledge of the rest of the world.
The fact that so few of our citizens live abroad is not a vote of confidence but evidence of the general isolation and xenophobia that afflicts the U.S.

If the English were reluctant Imperialists, we Americans are clueless Imperialists.

Anonymous said...

YES!!
We have lost all credibility due to electing the WORST, most corrupt administration in US history.

We cannot even begin to start thinking about restoring SHYYYT until he is gone, and even then, most of the damage done will take decades to unwind.

Anonymous said...

Yes

and

Yes

One day we will remember who we are.

Anonymous said...

Most Americans are still in total denial. Still thinking that America is the great symbol of strength and economic power in the free world. These same people don't even know what BushCo has been up to. They won't accept it until they're eating beans and selling their worthless homes for a sack of potatoes. Until there is acknowledgement and understanding of the problem the US can not begin to turn itself around.

Anonymous said...

Just remember that J.P. Morgan quote about going broke by betting against America and then remember the period of time he lived through.

born 1837 died 1913

How many people (both native and foreign) do you think were "betting against America" during 1863 or 1864?

This is going to be a correction (and yes, probably a big one) but I don't believe it is going to take the U.S. back into the stone age.

Anonymous said...

We can regain our prominence by taking our economic medicine for the next 8 years and coming back harder than 1980.

It's not implausible pseudo-science - America has done it before and can do it again.

It will take doing many things once unthinkable.. rolling back NAFTA, unwinding all outsourcing contracts, reinventing ourselves.

Will we do it? Don't know. Can we? Of course.

Anonymous said...

In order to EARN someones trust back you must first recognize that you made a mistake. God forbid anybody in this country accept any responsibility for what has been done TO (not by) them. This includes you HP. This country is nowhere near ready to do that; Stop blaming illegals, gays, terrorists for all of our problems and accept responsibility for our actions until that day comes we are screwing ourselves. RESPONSIBILITY utltimately lies with the individual. Quit looking for someone else to blame and look in the mirror america.

Anonymous said...

HPers are people who are pessimistic no matter what. You always see the glass half full. If stocks were up 50% you'dbe saying a crash is coming. When stocks are down you say a crash is coming. Dollar is down you say the end is here. Dollar is up you say the end is here because exports are too expensive for the rest of the world to buy and an economic collapse is coming. No matter what the situation is you see a catastrophe coming.

Princess Mononoke said...

Anonymous said...
YES and NO
November 07, 2007 6:45 PM

I completely agree with you and most other bloggers point of view. This correction is necessary. No doubt! It will take years to recover financially and our credibility with other nations. I do believe we will be able to do this. I'm ready for a change, so ready!

Anonymous said...

HPers are people who are pessimistic no matter what. You always see the glass half full. If stocks were up 50% you'dbe saying a crash is coming. When stocks are down you say a crash is coming. Dollar is down you say the end is here. Dollar is up you say the end is here because exports are too expensive for the rest of the world to buy and an economic collapse is coming. No matter what the situation is you see a catastrophe coming.

I guess you live in a cave without electricity, right? Look around you troll. HPs are not pessimistic, we just refuse to be a sheeple or troll. Most of us have been preparing for this exactly time, buying gold, foreign currencies, selling our homes at bubble peak and renting instead, investing abroad. We are pessimistic? Just look at the price of oil and gold...now compare the dollar with other currencies around the world.

You must be one of those fools who believe that our economy is great, believes in economic indicators supplied by the same crooks who create bubbles and phony wars. For you fool, the inflation is low, unemployment is low, dollar in the toilet is good for exports, etc...

If you want to be a sheeple and believe in what Bernanke, Paulson, CNBC, Maria "Lend Your Corporate Jet" Bartiromo, Cavuto, Kudlow, Stein, and many many other agents of disinformation who lie to make a buck, go ahead and follow them to your grave. But don't come here calling us pessimistic when we have been trying to help people to prepare for this unwinding historic crisis created by the same people who pulls the hood over your pathetic and empty head.

Seriously, we HP'ers feel sorry for your kind. Hey, but if you are one of those Bushie bots who have to be trolling all day to make your worthless buck while kissing GOP a$$, do what you gotta do.

a.creampuff said...

Marshmallows.

Anonymous said...

Yes Keefer you are correct. The US is dead. Europe is the place to be. What with 10% unemployment and yearly riots by muslims in the Paris suburbs. Indeed a better way to go.

Better in the US with riots from thousands of illegals marching the streets while holding American flags upside down. Meanwhile, the pussy Americans bulge to death like the little Cheney and corporate fascist's bitch they are. Honey git the flag and my NASCAR hat!

Princess Mononoke said...

Anonymous said...
You sound like John Kerry. Who the fuck cares what the world thinks?
November 07, 2007 6:49 PM

Your attitude and ignorance is appalling! I am an American and I care how other countries feel about us. Where is your PRIDE?!?! It would be nice to be able to visit another country and proudly say that I am from America. Like once upon a time when the World did respect us.

I'm sure you've hear the old adage, "Treat others as you would want to be treated". or how about "Respect your neighbor".

Princess Mononoke said...

Anonymous said...
HPers are people who are pessimistic no matter what.
November 07, 2007 10:02 PM

No you moron! I believe in profit. I have always been a bull NOT a bear. I would like nothing more than to be able to say in TRUTH that all fundamentals are strong! However, the real estate market and stock markets have been built on quicksand and the bottom is falling out! That's the reality.

Alex3191 said...

Who cares ?! we just nuke them ... and spin everything about their fault (you know - wmd, ppl freedom , bla-bla )

Anonymous said...

To the commentator: 10% unemployment
in France...

Surely, you don't believe our employment statistics...

Anonymous said...

Stop blaming illegals, gays, terrorists for all of our problems and accept responsibility for our actions until that day comes we are screwing ourselves.

1. HP'ers criticize the open border policy imposed by the corporate fascists that need more mouth from third word countries to eat their processed food or buy their crap cars. Another thing, it would be very nice if those millions of illegals stop sending 80% of the tax-free cash earnings back to their countries of origin instead of putting back into our economy of pay for the expensive social services they consume, which is paid by HONEST taxpayers. Also, it would be nice if illegals stopped committing mortgage fraud or crimes, as the stats from the DoJ clearly indicate.

2. I don't remember any HP ever bashing gays here.

3. Accept responsibility for what, exactly? I didn't vote for that monkey in the White House, I never approved that phony war, I didn't join the housing ponzi scheme to screw the economy and my fellow American, and I'm not a criminal. So, I will accept responsibility for things I do, not for your mistakes. So if you have screwed up, don't try to bring HP'ers into your own mess.

Crispy_Bacon said...

Yes.

American kids are so stupid today (by design). We no longer care kids no longer care about things like math and physics, but rather the size of Brittney's boobs and who is singing that gansta' rap...

It's a lost cause.

Anonymous said...

Yes Keefer you are correct. The US is dead. Europe is the place to be. What with 10% unemployment and yearly riots by muslims in the Paris suburbs. Indeed a better way to go.

Better in the US with riots from thousands of illegals marching the streets while holding American flags upside down. Meanwhile, the pussy Americans bulge to death like the little Cheney and corporate fascist's bitch they are. Honey git the flag and my NASCAR hat!
--------------------------------

Europe is getting to be very anti-immigrant (read "if you don't look like us, get the f out"). They have a larger skin-head problem than we do.

Anonymous said...

No, nobody will ever believe the US, never. Everybody knows that the US is nothing but smoke & mirrors. Everything in this country is a farce and rigged.
------------------------------------

When was this "Europe that unanimously loved the USA lovefest", exactly?

I have spent a fair amount of time in Europe over the last 4 decades. I have yet to see this "admiration" that everyone keeps talking about.

Our main allies are still our allies, (in no particular order), Great Britain, Canada, and Australia. All others have only begrudgingly tolerated us.

Anonymous said...

.



What do you expect when we don't even put enough trust in God to put it on our money?



.

TM said...

You sound like John Kerry. Who the fuck cares what the world thinks? Seriously. I could give a fuck what Londoners or Parisians think about what's happening in America. I don't tell them how to run their lives, I don't care to hear their opinion on my life either.

And

right on. I don't understand this fascination in making other countries happy.

No offense, but you would care if you understood how both money and international finance work. Here's mainly what you need to know:
The US is dependent upon the confidence of foreign banks and investors. Without it, we are broke, busted, bankrupt, f*cked.
You don't have to like it, but there it is.

Andrew Hac said...

The Americano is toast. Toasted like a burned kernel of popcorn. What do you expect from a nation that have more obese S.O.B than normal looking people ? Self-righteous, pompous, shallow minded, narrow thinking, selfish, greedy, hoity-toity, money-money-money me-me-me thinking attitude: That is the definition of an AMERICANO in the Wikipedia.

Well, that says it all !!!

Anonymous said...

A quick perusal of history reveals that all of the great empires fall, many times from the inside out. The similarities between the state of the Roman empire before its fall and the US are striking. Unfortunately, the possibility of the US no longer being a "superpower" is very strong. A new world is emerging in which countries like China and the re-born Russia may take the center stage. Do you really want to bring children into this crazy world right now???

edd said...

The average American has become ignorant to the point that they are no longer self-aware;
not knowing that the 'average American' has become uninformed, self indulgent, nonproductive (despite some stats), incredibly
wasteful, unhealthy, corrupt-by-omission, fairly spineless, and pathetically self-affirming,
among other syndromes of chronic decay.

Every city has large and growing ghettos of poverty to point up the large and growing ghettos of
negligent ignorance.

This average American chose a child-moron to be President; twice.
And his cronies even relished
cheating First American tribes; again.
Disabled vets don't even get their
due.

American splendor, eh ?
And Chindia is just getting started.

-- American, with regrets

Anonymous said...

but our strength is our rights and they together with the open border..............

Anonymous said...

Some would say we are corrupt, but relative to most in the world we have more integrity & transparency which leads to a more stable place to invest.

That is not true--this is the problem in the U.S. we are deluded. Check your data anon-we are recognized as being less honest and tranparent than 10 other nations. Being 11th aint' great--you are just mouthing propaganda from your civics class.

Anonymous said...

As for the economic decline. Ask yourself this: How many Americans move to other countries vs. foreigners moving to the US?

About 30000 of the best and brightest leave every year. Most of you don't leave cuase 1.) 85% of you do not have a passport, 2.) you are too stupid and don;t know that there are other countries in the world--most of you can't find em on maps. 3.) most of you no longer have skills. 4.) you are the easiest of all countries to get into cuase you have stupid rules and do not protect the borders, 5.) other rich countries have strict rules as to who gets in. 6.) you are an imbecile.

Anonymous said...

right on. I don't understand this fascination in making other countries happy.

You don't understand it cuase you are a moron. You need 1 billion per day of foreign investment to keep the country going. If the foreingers are unhappy you are hosed. Understand now retard?

Al said...

1. yes.
2. not this lifetime.

Andrew Hac said...

Anon 6:49 PM said: You sound like John Kerry. Who the fuck cares what the world thinks? Seriously. I could give a fuck what Londoners or Parisians think about what's happening in America. I don't tell them how to run their lives, I don't care to hear their opinion on my life either.

-----

Typical Fat-Ass, self-important, ignorant trailer-dwelling Americano. Up to your eyeballs in CC debt and think you're still hot shit. Well, I give you that: at least YOU'RE HOT SHIT. A shit nonetheless but it is HOT !!!

Anonymous said...

Yes when we IMPEACH!

Anonymous said...

The countries, where business or work visa type of US emigrants leave for, are mainly the UK (including Ireland), Australia, Canada, or New Zealand. These countries are basically Anglo-Saxon (or western European if one's P.C.) in culture and language so there really isn't a culture shock, outside of the lack of powerhouse baseball and basketball teams. And if you know the typical American, he tends to treat (or silently view) these places as territories of Uncle Sam anyways.

The retirees are the ones who head for Costa Rica, Thailand, Mexico, and the Dominican Republic. And these people tend to live in enclaves with other Americans and Canadians so that the shock is once again, minimized.

All and all, Americans don't really venture abroad in contrast to the Brits who live all over from Madagascar/Ethiopia, through Bulgaria, Malaysia, Hong Kong, and Polynesia. Now those are world venturers in the true sense of the word.