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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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25 comments:
Too Late for USA. The entire Nation is one big bleeding debt-ridden chancre sore, probably AIDS infected.
Today, when stopped in trafic, look at the driver of the car next to you. DO you want to know that person? How about even smiling at them?
Better not, they may be armed and take offense to your smile and blow your head off.
They may be viiictiiims...
The picture on the right is the fictional one. You can't become rich by honesty and hard work in America any longer.
Amercia respects only money now and it does not matter if you became rich through immoral means, just as long as you have it and especially flaunt it, you are "GREEN".
Stealing is in and guilt is out. There is no church or faith or moral home based control to keep people from ripping off others anymore.
There is no parental example, because both parents scramble for cash constantly and teach their children to do and respect the same. No time for Church, or if they do, they go to a church that will tell them it's God's will for you to prosper,etc.
In fact, "Name it and claim it Christianity" is so pervasive in today's mega churches that they don't see it for the heresy that it really is. The tithe and ten fold return is still used as the basis to start and this allows them to continue to feel good about what they are doing and think God approves because of the "'evidence" of their success.
Indeed they have begun to believe that there is something wrong with your relationship to God if you don't prosper and poverty in general is being viewed now in America as the result of stupidity, addictions or a lack of education.
You don't see real estate as a ponzi scheme, but rather as a "smart move" at the right time. You see those small "investment groups" that meet and invest in real estate as a "legal way to wealth" because you went to a few seminars that enlightened you on house flipping and did not think it an immoral act to take advantage of others caught in a whirlwind of divorce, widowhood, or bankruptcy. It was "too bad" for them, and "a wise investment" for you.
The Bubble was created in two ways. The avarice of corporate America to make big profits and small Joe America to get rich quickly by using real estate as just any other investment vehicle, and being trained "properly" using their tools such as appraisers, home construction teams, mortgage brokers, etc., united in making as much as possible, drawn from the party buying to ever rising price gouging of the next victim. But they don't see it as organized crime or a swindle. They were "honest" realtors. "Honest" appraisers in an upwardly mobile situation, and "honest" mortgage brokers who were just providing sub-prime borrowers a unique opportunity to become a home owner! Sure!
Awesome pic; full of wisdom.
Do not keep you cash in the bank.Make sure you are invested in assets such as stocks or real estate.Our goburnment has figured out how to give people free money via artificial asset prices.Who need a helicopter?
I have a confession--
I am a Mortgage Broker.
I have been one for 18 years. I have always strived to help people get the financing they need to buy the home they want at a competitive rate and reasonable costs. All of my business comes from personal referrals from previous clients.
During the last 6 years I have seen my profession overrun by "Gold Seekers" as I call them. No professionalism, they are just out to take advantage of the low rates to make a quick buck. Some of the young pups made fun of me because I refused to ever do an Option ARM or Interest Only loan. Some of my collegues that's all they did because they paid a higher commission and the lower payment option made it easy to sell. Some of these guys, brand new in the business, turned in monthly numbers far greater than mine.
As consolation, almost every one of them is gone now. Most of them are losing the BMWs and Mercedes they bought. I'm still driving my $13,000 Scion. I guess they'll move on to the next Gold Field. One of my former borrowers started a home alarm company. He ran an ad for sales people. He told me 8 out of 10 applicants were former Mortgage Brokers.
Those pictures pretty much sum it up for my profession-- I spent 18 years building a reputation for giving sound honest service and beating rates any local bank could offer. All these other Fly-By-Nighters were chasing the bubble.
That cartoon is a sick joke.
Movie stars can't earn millions per picture without a mass of movie-goers to support them. Sports stars can't get multi-million dollar contracts without a mass of mindless fans to show up to the games. And bankers can't make billions of dollars pursuing the schemes on the left without the mass of toilers on the right.
"Stay out of our game, know your place."
Anon 1:13pm shut the fuck up.
I grew up in a middle class family. Both my parents worked. I went to a state college. Got good grades, got a good job, went to business school, again did well and got a great job after graduating. 10 years later I do very well, make very good money and would consider myself fairly well off, if not yet rich.
Nobody gave me anything. I didn't steal from anyone. I worked hard for everythying I have. What I didn't do is go from blog to blog and complain who unfair life is.
who drew this? I like it.
The way to survival …
1. True physical fitness,
at any cost.
2. On-demand online adult
education.
3. Less television; more reading,
activities, and sleep.
4. See #1 and #1.
Anyone who thinks gold is in a bubble, take a look at this.
http://www.youtube.com/watch?v=nNq6Eq9dK2E
Anonymous said' "the picture on the right is the fictional one. You can't become rich by honesty and hard work in america any longer".
So true, so true. I have a friend who is a home builder, super nice guy, builds great houses, even mine. I wish him no harm.
We were at a social event a couple of months ago. We were talking to people and someone asked me what I did for a living. I said that I was an Electronics Engineer. Someone asked "so, you put the electrical wiring in houses?". I said, "no, that is an Electrical contractor, I design the printed circuit boards for the electronic products that you buy". He said "that's nice".
My friend then was asked what he did and he said that he was a hombuilder. I saw an entire crowd of people move around him for the remainder of the night, asking questions that revolved around remodels and building spec houses.
RE is the only vehicle that people can even IMAGINE to use to attain wealth. The idea of "hard work" does not even enter the average persons mind anymore (anyone ask a twenty-something what they do for a living these days? Frightening.)
I'm with anon 3:09, except for the expletives. I'm a (lawful) immigrant. Went to the sorriest of schools in the central valley of CA. Parents did the canonical immigrant job stuff - laundry, cannery, cook, grocery store clerk, and we were in the bottom 1% of the income scale, mostly because my parents were too proud to go the welfare route (which paid better than their jobs). Fast forward a few years and I went to a cheap, elite college (Go Bears!), and got a couple of graduate degrees. And now I'm in the top 1% on the income scale - so apparently one can still become rich by honesty and hard work in America. I don't get all this sorry self pity about America stuff...
"Nobody gave me anything. I didn't steal from anyone. I worked hard for everythying I have. What I didn't do is go from blog to blog and complain who unfair life is.
January 26, 2008 3:09 PM"
Go back to those colleges and demand your tuition back. Learn how to spell you self-righteous moron.
Here is one for you...see this all to often in our area. We live in an affluent area north of Atlanta. Homes typically in the $550K to $700K range. Whenever you dig into a local foreclosure on one of these high priced homes this is often what you find.
- Purchased within the past two years
- Purchased with 100% financing
- Minority couple
- Mercedes and Lexus in the driveway
- Own a "wishful thinking business" with the most "mickey mouse" websites that I have every seen...real estate, mortgage brokerage, and my all time favorite .... business adviser and investment banker. Give me an f'n break.
Here is my all time favorite one
Where greed meets stupidity this is what happens....
Couple buys house for $640K Jun 2006 with $646K Mortgage
Couple Lists house for $789K Oct 2007 Give me a break
Couple goes into foreclosure Jan 2008
Couple Cuts price to $699K Jan 2008...Dah, Still to high
Zillow Value on house $625K Jan 2008...and everyone knows this is overinflated.
now everyone else has to pay the consequences for this "climbers" stupidly and greed.
I returned to the USA when I was 14 years old, after a ten year absence. Parents moved back to Europe when I finished high School.
I made the decision to stay behind. I Worked as dishwasher to pay my tuition at a private high school. I made 16 dollars a day for washing dishes at a local restaurant.
I did not have an easy life as a teenager, but I managed to get a couple bachelor degrees and a couple master degrees. I paid for everything-graduate education is rather expensive.
At this point I am at the top 1% of the population, in terms of earnings, with zero debt. Hard work does pay, but it is not enough. You always need to be on the look-out to identify and react to repeating ponzi schemes. It amazes me that Americans know nothing about history and the political forces that help shape this world.
Anon 1:13 is Hillary or Obama posting anonymously.
All business is evil, they say!
"Go back to those colleges and demand your tuition back. Learn how to spell you self-righteous moron.
January 26, 2008 5:34 PM"
You got me. I don't use a spell checker when posting on blogs. Sorry. OK,now you found my typos, anything else to add to the conversation?
Didn't think so. Stay in your pathteic excuseof an existence and complain all day that your life sucks. Blame me, blame the government, blame realtors. Blame everyone but your own sorry self.
nonymous said...
Here is one for you...see this all to often in our area. We live in an affluent area north of Atlanta. Homes typically in the $550K to $700K range. Whenever you dig into a local foreclosure on one of these high priced homes this is often what you find.
----
And soon to be in the $450K to $600K range.
All of you have missed the point. Anon 1:13 is concerned about the immoral pursuit of wealth, not hard working wealth. The recent ponzi scheme in the real estate market and the latest "get rich quick" flippers are immoral means of making money and the churches that believe in prosperity doctrine are heretics. Doubt it? Take a look at the confession of a mortgage broker story posted here and the story from the Electrical Engineer. P.S. We don't need expletives to talk, by the way Anon. 3:09, and going to a state run school and majoring in BUSINESS is NOT a COLLEGE education. With all that "I" talk, you are part of the problem in America.
P.S. We don't need expletives to talk, by the way Anon. 3:09, and going to a state run school and majoring in BUSINESS is NOT a COLLEGE education. With all that "I" talk, you are part of the problem in America.
------
Where did you get a major in business? I majored in polis ci with a minor in chemistry in my undergrad. I also went to business school.
You were saying....
Is that dude in the corner blowing bubbles with his pipe? Who is he supposed to represent?
Remember Mickey Mouse as the sorcerer's apprentice?
http://www.youtube.com/watch?v=LD8HDta7Z_4
Someone is onto something:
http://washingtontimes.com/article/20080126/COMMENTARY/329114190/0/sports
The picture on the right is the fictional one. You can't become rich by honesty and hard work in America any longer.
When America becomes well and truly broke, such that no amount of PPT shenanigans will keep the party going, then we'll be forced into actually working for a living again.
Oh, and China is following the picture on the right to a T. A country of over a billion people, which had the per capita income of a poor African country in 1978, is now the second largest economy in the world, and continuing to grow at nearly 10% a year.
The Americano is as toasted as a snapper turtle skewered on a stick from head to ass all sizzling, juices dripping, fat popping over a bed of white hot charcoal grill.
Americano = Grilled Snapper Turtle
Heeeee... Haaaaa... Arrrrr...
The mentality of the average Americano is just amazing, if not stupefying.
A Circuit City Sale Associate is able to buy a house.
A Shoe Sale Man is driving an Audi.
An uneducated, illiterate, ignorant Ford factory auto-assembly worker makes $40/hour.
The Iraqi has Weapon Of Mass Destruction.
Talk about brain-dead zombie, blind-as-a-bat crapper. Maybe that is the reason why there is such word as "Trailer White Trash"...
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