December 11, 2007

People won't be able to say they weren't warned.


30 comments:

FlyingMonkeyWarrior said...

Yea, but the right people did not get the message.
Preaching to the choir comes to mind.

Anonymous said...

YOU WERE WARNED SHEEPLE

'Put their sh*t in the street and let it rain on them'

-Paulie Walnuts - Capo
The Sopranos Crime Family


'Good Job, Brownie'

-George W. Bushco 43
Imbicile-in-Chief
Worst Presidente in History

Anonymous said...

People thought that movie "Monster House" was just a kids flick. It was actually a satirical view of the real estate and mortage lending industries:

http://www.youtube.com/watch?v=qEaT6fNGOHw

"The house grabs things, pulls them in and EATS THEM!!!"

Anonymous said...

GOLD TO DA MOON ALICE!!!!!!!

Anonymous said...

KETIH!!

Have you seen the article on Patrick.net for today, titled "Move to inflate housing prices gathers Steam"...??!!!

PLEASE TELL ME THIS IS A HOAX!!

We are of course waiting out the current market before we buy, but with all the talk of new fees from Fannie after March 08, and now articles like THIS, I am getting worried. If that happens, I would say we are all safer in Moscow...I am moving to F!@#ing MOSCOW.

Thanks in advance for your response!!

Anonymous said...

Warned about what?

Anonymous said...

Dec. 10 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke may have to risk becoming the proverbial ``fool in the shower'' to keep the U.S. economy out of recession.

Anonymous said...

Stabilization: “The Fool in the Shower”

* Attempts to stabilize the economy can prove destabilizing because of time lags.
* Milton Friedman likened these attempts to a “fool in the shower.” The government is constantly stimulating or contracting the economy at the wrong time.

Anonymous said...

However, just because you see it, it does not necessarily follow that anyone is going to know what is going to happen. In a rookie mistake, I moved all my stuff around in August only to get burned by the Fed- now what I have is worth less and I missed on the gains. Same with the precious metals, they were considered to be high then (at 560) and look where they are now. Just about every stock and mutual fund in my 401K and IRA scream bubble.

We All Freaking Doomed said...

The Mother of All Bad Ideas

http://tinyurl.com/27maqa

Peter T said...

Some people were not warned, because they relied on the MSM out of tradition, while the MSM have been steadily transformed from reporting to cheerleading media. Additionally, the MSM like to report from controversial subjects by simply giving room to opposing experts in one article - it's cheap and avoids complaints about being one-sided. For the housing market, however, all the experts had a vested interest in increasing house prices, and it took the credit crises to bring in economic experts that have a wider range of viewpoints.

dafuzzyvbear said...

can you feel it in yer bones folks. I can and I am scared but prepared. dis gonna git ugly and da fear gonna be spread around good like. ifins you aint gots the prepared you oughts to do the thinkin and figure da tings out fer yerself

billyblanks said...

of?

Princess Mononoke said...

*
*
*
YES they will... Most of the population is STILL in denial or better yet don't have a clue. It's incredible to me how they go about their lives so disconnected, whether intentionally or unintentionally!

I'm tellin ya, they are in for a real shocker! One of profound significance for the United States of America...

Anonymous said...

I have many people that I know brag and throughb their housing welath in my face nad then talk shit about how they own ans I rent. F*uck You!!! Now I still rent and you rent a Mc Mansion and loss your Mutha F@cking savings. HA HA HA HA!!! Cry Bitches!!!! Soup Line's getting real long!!!

Anonymous said...

Where's 'Shotgun Dick'? Cheney?

He he gone to ground already?

Andrew from Russia said...

To Anon @ 2:09: where is that Moscow where you'd feel yourself safer? Idaho? I might be moving there too.

Definitely not *this* Moscow where government intervention in the form of "social" programs (i.e. "Affordable Housing", "Young Family" etc.) had resulted in RE prices doubling with some people getting hooked on 25-year, 10% p.a., six-digit dollar figure mortgages out of despair.

Anonymous said...

Keefer you are starting to sound like the boy who cried wolf more and more. Every week there is fresh evidence of the end of the world, so you say.

And yet every week nothing happens. Oh sure some banks lost money and some will lose more in the future. But come on dude, nothing else has happened.

The foreclosure "crisis" is an MSM made crisis. OK 5% of people are foreclosing. Which means 95% aren't. I mean shit man, get a grip. I took my car in for servicing the other day and the sales floor was packed with customers buying new cars.

I was on board with you 6 months ago. I even somewhat followed the advice here and got out of stocks.And where am I now? Exactly where I started from.

As for home prices. I see no deep discounts anywhere. OK Florida and Las Vegas and Detroit and Riverside ,CA are tanking. If I wanted to live in those hell holes I would be in heaven. Where I do want to live prices have been steady for 2+ years and there is no sign of that changing any time soon.

The more nothing happens the more I lose respect for your views.

Mammoth said...
This comment has been removed by the author.
Mammoth said...

Anon 2:09 AM said...
"If that happens, I would say we are all safer in Moscow...I am moving to F!@#ing MOSCOW."
-------------
An ordinary flat ~250 miles east of Moscow, in Dzerzhinsk (named by Greenpeace as the "Dioxin Capitol of the World") now costs around
$35K.
==================
"Ben S. Bernanke may have to risk becoming the proverbial ``fool in the shower'' to keep the U.S. economy out of recession."

-That shower scene from "Psycho" comes to mind...
-Mammoth

Anonymous said...

When will the goobermint confiscate gold again? Will Hitlary be the next FDR? Screw the smart and cautious people for the good of the speculators who crashed and burned?

Anonymous said...

In a live interview with CNBC's Becky Quick a few minutes ago, Warren Buffett predicted "enormous divergence" ahead in the stock performance for financial companies. In response to a question about whether financials might be the best-performing stock sector next year, Buffett advised against buying financials as a group. He said some will do well but others have done some "really dumb things."

http://www.cnbc.com/id/22199866

borkafatty said...

LA! LA! LA! LAAA! LA! LA! LAaaaaa!!

Excuse me! Fat Lady coming through.

Ruprecht said...

Anonymous 2:19 said

"Every week there is fresh evidence of the end of the world, so you say.

And yet every week nothing happens."

So the last shoe to drop that everyone is waiting for is the stock market to tank. Yet it keeps going up.
Earnings are starting to slow or come down, but maybe countries that have sovereign wealth funds are positioning themselves in the US stock market. Could they lose a lot of money? Sure.
There might even be some very good stocks worth buying, but without doing some extreme research, I would rather be out of it right now.
As far as the end of the world goes, just imagine if you work at a bank right now, are you going to be making any large purchases?
You may have already been laid off.

Anyway it's not a matter of the end of the world, it's just a matter of things getting back to normal.
In 1998, houses in my neighborhood were $100,000, today they are $300,000. A lot of money has been made by a lot of people in the last few years, so hopefully they saved a few dollars for times like now when things normallize.

Anonymous said...

right on schedule dow up 50,on top of the 100 from yesterday and the 500 from last week. Why look dow is up 10% for the year. A real awful year indeed. Gosh I sure wish I had kept my money in a savings account earning 4% instead like you all do.

And that 4% will be 2.5% by mid 2008 as another round of rate cuts is coming.

See you at Dow 17K chumps.

Oh and before one of you doofuses chimes in about gold, look at gold historically. Adjusted for inflation it is 90% less than it was in 1980.

Andrew Hac said...

#####
-George W. Bushco 43
Imbicile-in-Chief
Worst Presidente in History

December 11, 2007 12:57 AM
.....
#####

Dubya Shrub + Penis Shooter = "Little Boy" + "Fat Man" = Adolf Hitler + Moussolini

Andrew Hac said...

#####
I'm tellin ya, they are in for a real shocker! One of profound significance for the United States of America...
#####

Shocker, hell no. They are SNAPPER TURTLES being skewered and roasted over a hot bed of charcoal. They are AMERICANO !!!

Anonymous said...

I dropped several hints to my ex-wife and her attorney starting at December of 2006 - a year after she finished having a new McHouse built in a newly developed McVinyl McSubdivision at 2005 price levels. Wow, couldn't see that train wreck coming, huh? I started reading HP and Ben's Blog and Rachel Dollar's fraud blog about the time my ex-wife was breaking ground. I feel badly for not saying something earlier - really I do.

Smug Bastard

Anonymous said...

"right on schedule dow up 50,on top of the 100 from yesterday and the 500 from last week. Why look dow is up 10% for the year."


Hmmm, DOW dumps 300 points in afternoon trading because their bet for the Fed cutting by 50 b.p. didn't work out and the crybabies only got a 25 b.p. cut... This stock market is dislocated from reality and in the words of Mark Cuban, the stock market is for suckers.

DaveO said...

"Keefer you are starting to sound like the boy who cried wolf more and more. Every week there is fresh evidence of the end of the world, so you say.

And yet every week nothing happens. Oh sure some banks lost money and some will lose more in the future. But come on dude, nothing else has happened."

Let's see how things are 2 or 3 years from now, and let us know if you still have the same opinion. Yes, the unraveling of the bubble is slow (unlike the tech stock bubble), but look at how much things have changed in the past two years. Have patience.