March 19, 2008

HousingPANIC Quote of the Day

"They didn't want Americans to know exactly how bad the war was for the economy so they flooded it with liquidity, they looked the other way with regulations and they deliberately, I think, postponed the problem into the future and now we're paying the price."

Joseph Stiglitz, Nobel Prize winning economist speaking about Bush administration, March 2008

41 comments:

Anonymous said...

Hmmm... Yup. Sounds right

Anonymous said...

This war is a war for our freedom and way of life. All America wants to do is export freedom and democracy throughout the world. This war is worth it and it is worth the lives of our brave soldiers who gave the ultimate sacrifice. We must support our troops and support our president.

andy in nz said...

He has just been down here on a speaking tour.

He is not the evil genius socialist that the Chicago boys make him out to be! Smarter than the bush team..

Anonymous said...

"Nobel Prize winner" = "discredited"

Anonymous said...

So,tell me how did the people who didn't want the public to know how bad the war was for the economy get all those people to commit fraud on their loan applications .

Seem to me that this housing bubble was a mania that took on a life of its own . Are you telling me that the government told Wall Street to rate junk loans as AAA ,and the memo went down for all the mortgage agents to mickey the loan files ? No,I don't think so .

I might believe a theory that because of the 911 thing, and the basic insecurity that caused,that people might of had more of a live for today type attitude ,and maybe more of a willingness to gamble .

ROM said...

"This war is a war for our freedom and way of life. All America wants to do is export freedom and democracy throughout the world. This war is worth it and it is worth the lives of our brave soldiers who gave the ultimate sacrifice. We must support our troops and support our president."

This has to be sarcastic. Right?

This war is a cynical exercise is wealth generation the Industrial Military Complex, the traitorous Bush/Cheney/Saudi axis of evil. $4000 a second. That's what we're paying for the war in USD. We're almost up to 4000 US Soldiers dead.

We (the USA) should not be the invaders, not be the torturers, and not be the aggressors. The best way to support the troops is to respect them and utilize them for defense -- not profiteering.

Afterthought said...

They are trying to forestall the inevitable until mid November; and yes, the American people are stupid.

If I could escape, I would.

Anonymous said...

If we do not fight this war we will have bigger problems later.

For those that are against it most have problems with the military anyway and many did not serve in the military.

So you can have Obama , who hates America running America and did drugs or an American hero.

Bottom line is that without power economic power will not follow. This same point was made during other wars.

Holy Schlitz said...

Hey Anon at 6:21 AM and 10:46 AM. I served 8 years in the military, and I have huge problems with this war, a president who can't prove that he served out his full enlistment, a vp that got 5 vietnam era deferments - "I had other things that I wanted to do". Lets not over look that Iraq had nothing to do with 9-11, or Bin Laden. The list goes on..... sure muslims can be a pain in the ass, but it doesn't mean that I want to spend a ton of cash this country doesn't have trying to confront them.

Anonymous said...

All you pro war enthusiasts were suckered into the belief that we were going over there to revenge 9/11, destroy WMD’s and at the same time, bring democracy to the Middle East.
How did we do in 5 years?

Get Osama – Nope
Get WMD’s – Nope
Democratize Afghanistan and Iraq – Nope (look at their constitutions)

No, we have succeeded in destabilizing the entire Middle East, killed tens of thousands of locals and 4000 of our troops. The war is estimated to cost 3 trillion dollars or more with no end in sight. Do you thing that the terrorists have given up? Nope, they will be coming out of their rat holes for the next 100 years and Amerika can not defeat them. We lost in Vietnam because we could not fight a gorilla war. They KNOW that. They also know that they can walk across our southern border with almost impunity. That’s where the troops need to be stationed.

Sticks

John Rambo said...

In 2003 we NEEDED a WAR to jumpstart the economy. The result was the greatest story never told. The just right economy.
Who doesn't think 4000 soldiers dead and 30k wounded was worth it to get your home price up 75%???
HELOC anyone? I need a big screen.

Anonymous said...

If the war was for our freedom and way of life, then why wasn't the administration transparent about the "funding" for this war or show the body bags coming home of the brave servicemen that gave the ultimate sacrifice. Instead their deaths and the budget were kept cloaked from our freedom loving country. Isn't that anti-democratic, the opposite of the principles we are supposed to spreading to the Mid-East. The moral compass of the Bush Administration was broken before the war and everything they have done since in office has been especially beneficial to vultures like Halliburton and the banking system and wall street hogs. All lined their pockets in an unprecedented way in the name of "Freedom Fighting" and the rest of us, especially the brave veterans wounded in the war on terror, are screwed.

NEPA bubble sitter (now bust watcher!) said...

"This war is a war for our freedom and way of life. All America wants to do is export freedom and democracy throughout the world."

Granite countertops and stainless steel appliances for EVERYONE or we'll kill you all!

Oiy. This had to be sarcasm. Please tell us you were kidding. I already can't sleep at night and thinking there is one dersh out there who belives this crap may put me over the EDGE.

sherlockholmes said...

Are you telling me that the government told Wall Street to rate junk loans as AAA ,and the memo went down for all the mortgage agents to mickey the loan files ? No,I don't think so.

well, it happened and, indeed, we all see a dead corpse and know that a crime has been committed; nobody, however, wants to dust the crime scene for prints, etc... and bring about justice.

Anonymous said...

"This war is a war for our freedom and way of life. All America wants to do is export freedom and democracy throughout the world. This war is worth it and it is worth the lives of our brave soldiers who gave the ultimate sacrifice. We must support our troops and support our president."

I hope this is sarcastic! I support our troops only in that I hope that they return soon and return alive. America has no business exporting "freedom and democracy throughout the world" until it fixes its own democracy

Anonymous said...

Agree and disagree.

The only options we have left are: (1) radically restructure the "American way of life" to where we can be energy-independent (e.g., nukes, ban cars, public transportation), or (2) recognize that oil literally fuels the engine of our economy (while we can still get it) and we'll have to fight others to get it.

Anyone with two IQ points to rub together knows that Iraq was basically, "That bastard tried to kill ma daddy!", combined with "Well, there is oil there, ya know...". But Afghanistan was, at least at the outset, about combating a legitimate threat...and the threat still exists. Lots of people in the world hate us; they hate others, but they hate us, too. And they have oil...that emerging India and China want as well.

Yes, the "war" in Iraq was about oil; all the protesters can shout with glee...they've been vindicated. But what to do about the oil and about energy demand period? See above options.

As far as the housing/credit bubble:
* we've decimated manufacturing, unions, etc.; the only way the poor thrive and survive is to organize and unionize.
* we've left no options besides shitty retail & fast food for those who cannot (not will not, but cannot) make it through college
* we've made speculation and gambling (e.g., Wall Street: Vegas with less buffets and better suits) the new "industries" of choice.
* we continue to elect and re-elect the same bunch of thieving whores into government that got us here
* we whistle past the graveyard of uncertainty by anesthetizing ourselves with AI, etc.

We need a war on greed...might allow some of the other problems to work themselves out.


Anyone with two IQ points to rub together knows that Iraq was basically, "That bastard tried to kill ma daddy!", combined with "Well, there is oil there, ya know...". But Afghanistan was, at least at the outset, about combating a legitimate threat...and the threat still exists. Lots of people in the world hate us; they hate others, but they hate us, too. And they have oil...that emerging India and China want as well.

Yes, the "war" in Iraq was about oil; all the protesters can shout with glee...they've been vindicated. But what to do about the oil? See above options.

As far as the housing/credit bubble: well, we've decimated manufacturing, we've left no options besides shitty retail & fast food for those who cannot (not will not, but cannot) make it through college, and we've made speculation and gambling (e.g., Wall Street: Vegas with less buffets and better suits) the new "industries" of choice.

guy n. cognito said...

actually, without economic and moral power- power will not follow... but i could be wrong and torture and a bankrupt, deficit-driven economy are actually quite sustainable.

that hero on the middle-right is very proud. but is pride a virture? it can be very detrimental. his pride is bordering on smug undeserving entitlement. even though the self-righteous kid on the left is no better at least he'll get us out of Iraq.

Europe smells said...

Ok let try this in a better way.

"They didn't want Europeans to know exactly how bad the impact of appeasing the Arab homicidal maniacs would be for the economy, so they funded them with hard working EU commoners tax money, they looked the other way with regulations and they deliberately, I think, postponed the problem into the future and now we're paying the price."

Insincerely
Shiny headed, little brained, high ranking member of ‘can’t face reality that Europe is on a full blown path to self destruction and central regulatory life hating committee’

Anonymous said...

This war is a war for our freedom and way of life.

Man, what an idiot. Because of people like this that I don't have hope for a better country.

Anonymous said...

So,tell me how did the people who didn't want the public to know how bad the war was for the economy get all those people to commit fraud on their loan applications .

Simple, by letting the crooks on Wall Street and all the REIC whores run wild with fake contracts, a pen, and a fairytale to fool the 60% of retards that believe in terror alerts, terrorist bogeyman, who voted for Bush/Cheney, that the war is about freedom, you know, the usual dumb hicks out there.

Then you had the help of all the millions of American conmen out there, which everyone around the world knows it's part of the American culture. After all, the entire planet knows that America is the land of crooks! From the White House to hickland, nothing but crooks!

When you have a country composed by high school drop outs, hicks, imported poverty from Third World Country to depress American wages and built cheaper houses, and American conmen dressed in suits and golf players, it's not too hard to pump lies and bubbles into the mainstream.

Anymore questions? Oh, and don't forget to check under your bed for terrorist bogeyman. Glad to help.

Anonymous said...

Anonymous said...

This war is a war for our freedom and way of life.

Our freedom: AT&T and Verizon are listening to our phone calls, Comcast is monitoring our emails. People are being detained without charges for years.

Our way of life: Debt ridden, status seeking television addicts. The rest of the world can't wait for us to export our debt slave way of life to them.

This war is worth it and it is worth the lives of our brave soldiers who gave the ultimate sacrifice.

You believe the war is worth it because it is someone else's family getting bombed, not yours. While those people die in order to receive the American way of life, (a chance at a Mastercard or VISA) you are busy shopping and pasting yellow ribbons on the back of your gas guzzling SUV.

The soldiers in Iraq supported Ron Paul for president. He is the only one with the guts to say "bring em home".

You are what has ruined America. Go watch TV, and please don't vote. You are not smart enough to vote.

Anonymous said...

Hilarious how the PPT doesn't want the market go down today. Every time it sinks, they bring it back up.

Don't fight it PPT because your little tricks don't convince any longer. The American market, Fed, and government lost all credibility...FOREVER!

k.w. - southern ca. said...

This war is worth it??

Perhaps for fat oil cats and generals who sit on their arse while young soldiers sacrafice thier lives - yep, it's "worth it" alot for them - all in the name of greed.

If you really support our troops, then you would want them out of that war ASAP, and back home here with their loved ones.


Anonymous said...
This war is a war for our freedom and way of life. All America wants to do is export freedom and democracy throughout the world. This war is worth it and it is worth the lives of our brave soldiers who gave the ultimate sacrifice. We must support our troops and support our president.

ben's butt boy said...

Right on schedule, gold getting whacked down to $850, the USD is being propped at 72 on the index, and Bill "the shill" Gross is blathering about deflation!

Ignore this flimsy attempt at distraction, the real problem is insolvency, and the only solution available to the PTB is to pump trillions of $$ of fiat money into the system and our faltering, consumption-driven economy.

By definition, that is inflationary, and we will see $150/bbl oil and $1500 gold by Summer.

Anonymous said...

FOCKS NEWSFLUSH!

Fannie Mae and Freddie Mac, in patriotic response to declining bank profits, have benevolently decided to allow $200 billion of terrorist-enabled toxic mortgage debt to be added to their balance sheets...

More nooze at eleven...

Anonymous said...

Red Alert! Red Alert! Calling PPT to make the rotten market positive. I repeat, calling PPT to fool the cheerleaders and sheeple. Almost 2 PM PPT! Bootlicker CNBC ready to give support with the Kool-Aid, PPT.

mike said...

You guys are really dense if you didn't see the sarcasm from the first post.

I mean REALLY dense

Andrew Hac said...

Quote from "Anonymous" March 19, 2008 6:21 AM
#####
This war is a war for our freedom and way of life. All America wants to do is export freedom and democracy throughout the world. This war is worth it and it is worth the lives of our brave soldiers who gave the ultimate sacrifice. We must support our troops and support our president.
#####

1) This war is a war for our freedom...
Q: Any one put your ass or your ass-head in jail, invades this Snapper Turtle Land at all ?
2) This war is a war for our freedom and way of life...
Comments: Who gives a crap about your way of life ?
3) All America wants to do is export freedom and democracy throughout the world...
Q: Did the Iraqui people asks you to put your fat, obese ASS in their land ?
4) This war is worth it...
Comment: It is worth the price of a roasted snapper turtle skewered on a green Chinese bamboo stick, sizzling nicely, fat popping, juices smokeing, dripping aromatically on a bed of red hot charcoal, as long as Dubya is still sitting in the John's Throne.
5) it is worth the lives of our brave soldiers who gave the ultimate sacrifice...
Comment: Sure, if you don't have any thing else to do in your life like going to a university and get a degree in computer science or engineering so you can live a better life, then yes: being the Americano brave soldiers are not a bad deal.
But about the "ultimate sacrifice", sacrifice for what ? To invade a nation outright with a lame excuse of a WMD ? Yup, sure... That is some real "Ultimate Sacrifice".
6) We must support our troops and support our president.
Comment: You go ahead, Joe6Pack. After all, those troops are your neighbor and Dubya The Shrub is your God. So go for it, Joe6Pack...

#####

Degradation is inevitable for the land of the Americano AKA the land of the Snapper Turtle.

When you have dumb-ass occupants voting for turkey to lead the nation, you will have to expect the consequence of a hilarious outcome to appear sooner or later down the line of history.

Add in the mentality consisting of selfishness, greed, immorality, no social ethic, no family value, the me-me-me now-now-now screaming out loud wishes, the fat-ass shallow-thinking of a bemuddled brain, and you have yourself a pile of sh*tty problems in hand that are unsolvable.

So how do you rescue a nation at the brink of destruction ? None.

Looks like the good old ancient Snapper Turtle may just outlive the fat-ass Americano homo-sexual erectus !!!

Anonymous said...

Interesting article on Money.com that depicts the financial struggle of 13 American families across the country:

http://tinyurl.com/2m2qgb

Anonymous said...

So you can have Obama , who hates America running America and did drugs or an American hero.


Anyone who is for the continuation of the war in Iraq, particularly for "100 or even 1000 years" is not only an America hater, but is probably currently doing hard drugs.

Anonymous said...

this war is a huge success!

goal 1: billionz in profitz- CHECK
goal 2: destabilize mid east so goal 1 can repeated for 100 years - CHECK

whats not to luv? dont forget april 15th is coming up dont be late with the war payment/taxes....

Anonymous said...

FOR THE NOBEL= DISCREDITED POSTER...SEE FISHBEIN AND ROYAL RIFE...ABOUT 50 YEAR OLD 100 PERCENT CANCEER CURE NUMBERS... OR WAS IT AMA VRS ROYAL RIFE

Anonymous said...

Well, where are all the cheerleaders today? Here's your headline:

Stocks: right back down
Wall Street gives up nearly 75% of the previous session's rally as investors retreat.


That's just the beginning, because it'll sink more and more. Like I said before, Bernanke would cut 75 pointers and then the PPT would pump the rotten market to fool the sheep. Then the market would nosedive in the next few days.

Yeah, you better hide now. I don't see you writing your "bwahahaha" here today, eh? Cowards and financial imbeciles. Go vote for Obama now.

Anonymous said...

Are you telling me that the government told Wall Street to rate junk loans as AAA ,and the memo went down for all the mortgage agents to mickey the loan files ? No,I don't think so .

I don't think so either.

Here's how it actually works.

Wall street bought the government, is the government and owns the government. Their co-ideologists all believe in no regulation no regulation, since that regulation gets in the way of the paychecks of the rich on the way up.

Then when the shit hits the fan, as it always does after deregulated financial manias (always including scams), Wall Street told the government "you better give us what we want, i.e. big $$$$$$$$, or else." Like a terrorist who takes hostages.

The government doesn't tell Wall Street what to do. Wall Street tells the government what to do, and what not do to.

In reality, it should be the governments job to give them the big ass whuppings that they deserve---and they should have gotten it way earlier with investigations and regulations and lawsuits and indictments, to stop them from undermining our economic stability as they did for their greed.

Ed said...

Oh he's a nobel peace prize winner so he must know what he's talking about. Like Yassir Arafat. Got it.

So 9/11 was an inside job by Cheney/Bush. Then Greenspan lowered rates to 1% in order to create the housing bubble which was also a part of the overall plan. And then once that was in place, the war started. But since everyone was too busy with housing, they didn't notice. Oh and American Idol started in 2002. Coincidence? I think not.

And all this was orchestrated by Bush who has an IQ of 60 according to the DailyKooks.

Yeah makes sense to me.

Anonymous said...

We should do a thread like the segment on SNL they call Really?!:
"All America wants to do is export freedom and democracy", really? Nothing to do with oil? Why then does our govt, to this day, disregard the Iraqi parliament? They passed a resolution saying the U.S. should leave, like NOW. Why does the bush admin keep going to bat for the chinese, taking their names off the list of human rights abusers? This war "is worth the lives of our brave soldiers who gave the ultimate sacrifice". Really? It was worth killing 4000 of our guys in order to drive up the price of oil 350% and to kill, maim and/or displace over a MILLION Iraqis so that the MIC, and the bush family, and the cheneys, could make a little more money? It was worth driving our economy into the ground and finishing the job for al qaeda and letting iran become the dom player in the mid east, it was worth that, huh? Really?
"For those that are against it most have problems with the military anyway". Really? Is that why I got an honorable discharge after 8 years of service? Is that why I found myself glued to the news during the invasion, praying our guys didn't get hurt? I kept thinking that could've been myself out there and was haunted by that. So that makes me against the military, really? Cuz I don't want to lose our guys in a war fashioned by the robber barons of our time?
"If we do not fight this war we will have bigger problems later.". Really, saddam who couldn't fly a plane outside the no fly zone was gonna bomb us, really? He was gonna give wmd over to alqaeda, his enemies who think secularists are worse than infidels, really? Btw, what wmds would those have been? And now the Iraqi people are just tickled pink with us and we aren't breeding any future terrorists now, right? Really? Hmmm...
-JDF

LOL said...

"This war is a war for our freedom and way of life. All America wants to do is export freedom and democracy throughout the world. This war is worth it and it is worth the lives of our brave soldiers who gave the ultimate sacrifice. We must support our troops and support our president."


Explain to me how freedom can be exported. In my view the idea of freedom being exported goes against the very essence of what freedom defines.

http://www.merriam-webster.com/dictionary/freedom

Anonymous said...

"...America wants to do is export freedom and democracy throughout the world."

Cheney: We gotta export freedon & democracy.

Bush: Damn right, 'cause I don't want it around here.

Anonymous said...

hey Andrew...we don't eat snapper turtle in this country, so your diatribe might be a little more effective if you use "pig on a spit", especially since your favorite intended target, Joe Six-pack , can identify with that.

cheers,
Macaca

the_truth_hurts said...

So you can have Obama , who hates America running America and did drugs or an American hero.

What does doing drugs have to do with anything? If Bush had hit the hash pipe, he may have gotten some insight along the way.

I don't care what McCain did for us in Vietnam - and what did Vietnam do for us? He has abandoned his people by buying into the Bush doctrine of amnesty, imperialism, and free (not fair) trade.

Anonymous said...

Anonymous said...

"...America wants to do is export freedom and democracy throughout the world."

Cheney: We gotta export freedon & democracy.

Bush: Damn right, 'cause I don't want it around here.

Actually, Bush's quote was something like "Dictatorships are okay, as long as I am the Dictator". That was before he coronated himself as "The Decider".