HousingPANIC Stupid Question of the Day

July 13, 2008

HousingPANIC Stupid Question of the Day

Do you think your fellow Americans are paying attention now to what's going on?

84 comments:

AndrewHac said...: Pay attention ?

Look at the picture. Fat-ass Jack and Jill are shopping their asses to death on junks Made-From-Lord-Who-Know-Where. Jack and Jill are the main slip-and-slide of this Americano nation. The pair of them look like piece-of-sh*t from the New York subway tunnel.; July 13, 2008 7:45 AM
Anonymous said...: I think most people are in denial. The reality of the situation is just too much for them. I read that about 90 banks are in danger of failing, but the FED won't say which, out of fear of futher bank runs.; July 13, 2008 7:59 AM
Anonymous said...: http://market-ticker.denninger.net/archives/513-Fannie,-Freddie,-Banks-and-Government-Debt.html; July 13, 2008 8:20 AM
Anonymous said...: The sheeple should pay attention to this:

NYT -- Even after accounting scandals arose at the two companies a few years ago, attempts to push through stronger oversight were stymied because few politicians, particularly Democrats, wanted to be perceived as hindering the American dream of homeownership for the masses.

Lots of perks came with Fannie and Freddie’s charters and government backing: exemptions from state and federal taxes, relatively meager capital requirements, and an ability to borrow money at rock-bottom rates.

In Washington, Fannie and Freddie’s sprawling lobbying machine hired family and friends of politicians in their efforts to quickly sideline any regulations that might slow their growth or invite greater oversight of their business practices.

James A. Johnson, a longtime member of the Washington establishment who previously worked as a campaign adviser to former Vice President Walter F. Mondale, ran Fannie for most of the 1990s.

“Jim Johnson was the architect of Fannie’s lobbying strategy. He was the muscle guy, if you will. The guy who would walk the halls of Congress,” said Bert Ely, a banking consultant in Arlington, Va., and longtime critic of the companies. Freddie, Mr. Ely said, soon copied Fannie’s playbook.

http://tinyurl.com/5kjvx7

Yep, this is the same James Johnson who was in charge of picking a VP for Hussein Obama. Nice guy, huh? Sorry for peeing on your Messiah parade, sheeple.; July 13, 2008 8:23 AM
Anonymous said...: Nope.; July 13, 2008 10:30 AM
Anonymous said...: They're paying attention but don't know what's going on; July 13, 2008 10:31 AM
Anonymous said...: Yeah, that Johnson was (note the past tense,as he quit around June 12 - nothing like old news weeks out of date showing how well Americans are paying attention) way out of his league.

Now Cheney, that is a model well worth emulating. After being in charge of searching for a running mate for Bush, he couldn't find anyone better suited for the job than him.

And considering that Cheney still seems uncertain as to which constitutional branch the vice president belongs to, certainly says something about his qualifications to have been searching for a candidate, much less filling it.

Actually, it is almost sad to see how desperate some people are to live in the past - though I still can't remember - was that the past where Obama was the secret muslim left wing terrorist, or the one where he is a centrist member of the business as usual political mainstream.

So many distractions, so little time.; July 13, 2008 10:39 AM
Anonymous said...: Hey, even Bush said to shop after 911. Retail therapy solves everything; July 13, 2008 11:20 AM
Anonymous said...: I am 90% certain that there will be a market crash on Monday.; July 13, 2008 11:30 AM
Anonymous said...: Maybe a little but I don't think they really know what is going on.

They know gas and food cost are going up and they know there is something going on in real estate with that whole "Sub Prime" thing. That is all, I think for many it is too confusing or their steady diet of MSM, Deal No Deal, and American Idol doesn't allow them to think things through, ala Kurt Vonnegut's Harrison Bergeron.

Seems as the weekend goes on, IndyMac / FDIC take over is getting more coverage. They might just hear it and it'll sink in but, since many never heard of it it won't matter much.

They may get a clue when they here that WAMU or BofA fails because they know the names.

Others in cold climates might start to wake up when they begin to deal their winter heating needs and find the costs have doubled already since last year.
http://tinyurl.com/59purz
http://tinyurl.com/6kavlq
(The common advice seems to be "wear more sweaters")

Still I doubt it.

Most won't have a clue until the day they get a pink slip at work or the doors hained shut. Gas stations closed and lines outside their banks.; July 13, 2008 11:40 AM
Anonymous said...: Just keep those SS disability checks coming. Mac and cheese, mmm. I wonder what's on American Idol tonight?; July 13, 2008 12:07 PM
Anonymous said...: No. They only care about hope they can believe in. Why should they care? As soon as Osamabama wins, all their problems will be over. Free health care, free gas, free mortgages.

Why worry when uncle Barry Hussein will make it all feel better?

DOPES; July 13, 2008 12:30 PM
Anonymous said...: Here is the situation among my immediate family and close friends:

sister: just graduated from college, had 2 jobs offers before graduation, now makes $60K starting salary. Not too bad for 22 years old. Shit, when I graduated I made $28K a year and thought that was all the money in the world.

good friend: quit old job because he was bored, found new job 2 months later. don't know what he makes, I'm guessing about $125-150K as a director of finance

another good friend: promoted to a VP position for a mid-sized IT consulting company. has to make close to $200K

myself: work as an independent consultant. my billable hours are what they were this time last year, but my hourly rate is $10 higher

So given all this, to answer your question: probably not. But then again none of this has directly impacted any of them either. Personally I used to be in the doom and gloom camp as well. But the worst the predictions get the better my personal financial situation is. So I don't know, I'm feeling more optimistic myself. Not because I'm putting my head in the sand. Because my reality and the perceived reality of HP and other blogs just doesn't measure up. This is also reminiscent of Y2K. Big buildup for doom and gloom, nothing happened. Same with 9.11. I remember the dire predictions immediately after of worldwide depressions, will Wall St. panic, etc? Again, not much happened.

This situation is like plane crashes. The media reports on the 0.01% of flights that crash. You never hear about the 99.99% of flights that don't crash. And yea, there are people out there losing jobs and hurting. And those are the people that the media focuses on. So night after night the news will have a story on some family who is being foreclosed on or who can't pay the electric bill or whatever. They don't show you the 95% of people who are doing just fine.

Anyway, just my two cents, you may now return to your regular program of end of the world is near.; July 13, 2008 12:46 PM
Anonymous said...: Andrew Hac you the man! You be so right except they's names be Jose and Carmelita. And how did they manage to bleach their faces?; July 13, 2008 1:01 PM
Anonymous said...: nope; July 13, 2008 1:41 PM
Anonymous said...: No, the sheeple are not really paying attention. Sure, they know that something is amiss, but they really have no idea was is coming. I casually mention this when talking to people about the situation. I even have thrown in "wholesale systemic financial collapse". All I get is those far off stares, kind of like a deer in the headlighs look. They don't want to know. When it really hits and the banks fail, no lending is available, the jobs go, that is when the masses will realize what is up, not a moment sooner.

They don't want to know that something this big could happen, it is beyond their ability to comprehend their own survival in such a scenario. With all these city folks who couldn't grow a tomato plant, it is going to be a very rude awakening.; July 13, 2008 1:52 PM
Anonymous said...: Americans are only aware to the degree that they perceive they are affected. Lots of people are whining about "high gas prices" and how "the Government should do something," as if the Government is some sort of omnipotent deity. The overwhelming majority of Americans have no idea what's really wrong or why, or what it will eventually mean. I've got a co-worker that is actively celebrating that rising US exports have brought the "seasonally adjusted" trade deficit down to "only" $59.8B for the month. He says that, combined with lower jobless claims (again, "seasonally adjusted") prove that "the economy" is in good shape. Lost in his optimism is that our exports are worth relatively less when denominated in foreign currency or in goods that the USA imports. Jobless claims are a poor analog for actual unemployment and underemployment; if an engineer making $100K is forced to become a clerk at Costco (because the Home Depot offer fell through), and now he makes $32K; he's not counted as unemployed since he's filed no claim. And yet, his household is devastated. But even that engineer is probably unable to recognize how his fate is entrained in the fiscal recklessness of the same "Government" that he hopes will save him, and reports the statistics that tells him things are good.; July 13, 2008 1:54 PM
Unknown said...: "I am 90% certain that there will be a market crash on Monday."

It always seems that the market moves opposite of my expectations. Especially when bad news breaks after closing Friday. I would expect a huge dip Monday.... but then it doesn't.; July 13, 2008 2:07 PM
Anonymous said...: More of your same old brain farts. Are you too much of a moron to realize that the people here will never believe your fairy tales?

Here is the situation among my immediate family and close friends:

sister: just graduated from college, had 2 jobs offers before graduation, now makes $60K starting salary. Not too bad for 22 years old. Shit, when I graduated I made $28K a year and thought that was all the money in the world.

good friend: quit old job because he was bored, found new job 2 months later. don't know what he makes, I'm guessing about $125-150K as a director of finance

another good friend: promoted to a VP position for a mid-sized IT consulting company. has to make close to $200K

myself: work as an independent consultant. my billable hours are what they were this time last year, but my hourly rate is $10 higher

So given all this, to answer your question: probably not. But then again none of this has directly impacted any of them either. Personally I used to be in the doom and gloom camp as well. But the worst the predictions get the better my personal financial situation is. So I don't know, I'm feeling more optimistic myself. Not because I'm putting my head in the sand. Because my reality and the perceived reality of HP and other blogs just doesn't measure up. This is also reminiscent of Y2K. Big buildup for doom and gloom, nothing happened. Same with 9.11. I remember the dire predictions immediately after of worldwide depressions, will Wall St. panic, etc? Again, not much happened.

This situation is like plane crashes. The media reports on the 0.01% of flights that crash. You never hear about the 99.99% of flights that don't crash. And yea, there are people out there losing jobs and hurting. And those are the people that the media focuses on. So night after night the news will have a story on some family who is being foreclosed on or who can't pay the electric bill or whatever. They don't show you the 95% of people who are doing just fine.

Anyway, just my two cents, you may now return to your regular program of end of the world is near.; July 13, 2008 2:21 PM
Anonymous said...: Not a clue from the people I have talked too. Andrew hac your right on the money sorry to say.; July 13, 2008 2:29 PM
Anonymous said...: No-The reason is obvious. The average American goes to work and is concerned with his/her own things. They don't get proper information from Radio, TV or Newspapers (in America).
In order to discover the information, you must seek outside sources abroad and Americans do not spend their time reading or searching in that manner.
Computers are for games. X-boxes and entertainment is all they care about on weekends.
They don't know because it is not talked about. You don't think they watch those Sunday morning discussion shows do you? Thinking in American terms is still for geeks.; July 13, 2008 3:02 PM
Anonymous said...: Here is the situation among my immediate family and close friends

Wow, what planet do you live on? Here is my situation:

1. Jobs out sourced to India. Dell and AMD laying off people. College kids flooding job market for summer work. Tough job market.

2. Sister laid off from work.

3. Brother making it. But might be at risk later this year.

4. Retired parents getting squeezed by inflation.

Could be a few notched worse. But not optimal at the moment.; July 13, 2008 3:04 PM
bearmaster said...: People generally don't really start paying attention until it starts to directly hit them in the wallet. In the meantime they sleepwalk through life.

Groups like Fed UP USA are the exception.; July 13, 2008 3:16 PM
Anonymous said...: Keith, posts like this are why yours is the best blog on the net.

More and more I am concluding that we need a vanguard party that will rule with an iron fist and reimpose balanced government; balance defined as doing justice to each class of men. America inherited a capital stock of morality from the moral best of the Old World who fled. It was the stock that made liberty possible. Unfortunately liberty does not replenish that stock, only the rod of discipline.

Europe, as showcased by the Irish and other no votes to the EU, have that stock today. When did they get it? I wager that they had their stock of morality replenished by the bayonet, the bomb, and famine. Many bad people were killed off. Many borderline people were scared into behavior. America's finest (Truman, Eisenhower, Kennedy, Marshall) promoted good people there and they did good things; they built a trading zone with a disciplined central bank, they showed concern for the environment, they live better than we do hands down.

Recently they have had a monster growing up in their midst promoting indecency, human trafficking, a new military, lax monetary policy, and unfettered immigration.

Sarkozy is the front man for this organization and we kNWO what their ultimate goals are.; July 13, 2008 3:16 PM
Anonymous said...: nah only the $250K a year, super model dating, sold at the peak, bought gold at $100 and shorted CFC financial geniuses of HP pay attention.

my only question is how do you all have all this time to blog? your McManager must be very generous with your breaks; July 13, 2008 3:16 PM
blogger said...: "Hey, great low prices here at Wal-Mart!"

"Hmmm.. I wonder why our standard of living isn't going up?|

"Hmmm... I wonder why our currency is becoming worthless.. why gas is so expensive.. why savings rates suck.. why inflation feels so high.."

"Hey, great low prices here at Wal-Mart!"

In other words HP'ers, I think they see what's happening but they're not able to connect the dots; July 13, 2008 3:24 PM
Anonymous said...: I've been screaming about the housing bubble for years, but you idiots that continue to make fun of people who shop at Wal-Mart make me sick.

Did you ever think shopping there is a necessity for them? For many, the savings allow them to buy medication or other necessities.

You moronic liberals who complain about Wal-Mart are the same idiots who support unions and other socialist or welfare state programs, which is why we're where we're at.

And Keith, you're a hypocrite. You fault many for shopping at a place that buys most of its goods in China, yet you traipse around Europe and the world spending your money outside this country. At least Wal-Mart employs Americans.; July 13, 2008 3:26 PM
Mark in San Diego said...: Welcome back Andrew - missed your comments. . .yes/no to the question - lower income Americans are really feeling the pinch, and are in a "quiet resignation" of despair. . .middle class and above are still complaining about gas prices, but haven't come to grips with thier housing ATM being shut down - from statistics, they have just fired up the credit cards. . .now what happens when THOSE hit the wall??; July 13, 2008 3:28 PM
Miss Goldbug said...: They might realize something is wrong, only because the economy is slowing down, but they havent a clue as to why.; July 13, 2008 3:53 PM
blogger said...: screamer - you're missing the point. It's a viscous circle - shopping at wal-mart is making people so poor they have to shop at wal-mart

get it now?; July 13, 2008 3:55 PM
Anonymous said...: Bunch of toothless wonders wondering around walmart consumeing.They are so clueless.All they care about is feeding their fat asses and watching clay aiken.We need to start castrateing some of these morons.The dumbing down of america continues folks.; July 13, 2008 3:58 PM
Anonymous said...: Anon said:"This is also reminiscent of Y2K. Big buildup for doom and gloom, nothing happened. Same with 9.11. I remember the dire predictions immediately after of worldwide depressions, will Wall St. panic, etc? Again, not much happened."

------

I can see you dont understand how leverage works in the real world.; July 13, 2008 4:03 PM
Anonymous said...: Anon said:"So night after night the news will have a story on some family who is being foreclosed on or who can't pay the electric bill or whatever. They don't show you the 95% of people who are doing just fine."

Sorry, you got it ass backward...95% of the people are struggling, not visa versa. Moron.; July 13, 2008 4:08 PM
Anonymous said...: Everyone has their own reality I guess. My nephew just graduated from an ivy league school with a great job - but the guy he wanted to be roommates with hasn't found work yet that would allow him to move out of his parent's house. The father of my kids' best friend lost his job and can't sell his house yet can't afford to live there anymore and 7 people just got laid off at work. So some people get it and some don't. It's hard not to be touched by it when you know people that are being so directly affected.; July 13, 2008 4:11 PM
Devestment said...: If they were, would 10,000 people have lost over $500,000.00 each in the Indy failure?; July 13, 2008 4:12 PM
Anonymous said...: Pretty funny, Huh?

It’ll be knee-slapping hilarious to watch the toothless Brits and the dumb barbaric Germans…when shit hits the fan in Europe..

But but, they are measuring their ‘carbon footprint’.

Baaa ha ha ha ha..; July 13, 2008 4:23 PM
Anonymous said...: It's not the fat Walmart Americans that are in denial, they generally understand the hard side of life. It's all the rest of the a-holes driving SUV's, Pickups, making 50k+/year while driving around like the rest of us (including the people in this pic) are peons. These pretend middle-class sh*t are the ones who need to fall, who will fall, and who still STILL think the "recession" will be over soon.

My wish is to be a jack booted thug working for the feds, kicking these spoiled lazy brat's heads in.

Peace out all; July 13, 2008 4:33 PM
Anonymous said...: Qweefie you need to rename this blog to reflect your readers. A few suggestions

bitter liberals who can't figure out why everyone but them is a success

forum for high school dropouts who are angry at the world

crazy people

you get the idea; July 13, 2008 4:40 PM
Anonymous said...: People are starting to realize that something is happening. But they don't know what.

I am sure on Monday the Right Wing Media will sing it's siren song, and put everyone back to sleep.; July 13, 2008 4:43 PM
Anonymous said...: I'm going to cut his ball off for shopping at Wal-Mart...; July 13, 2008 5:14 PM
Unknown said...: Nobody in this country is awake INDYMAC gets taken over and the Arizona Republic barely mentions anything.Judging by peoples comments to a recent foreclosure article foreclosure buyers patting themselves on the back for their supposed smart buys.Can anyone say catching A FALLING KNIFE.Phoenix metro area has a big Real Estate price drop ahead.; July 13, 2008 5:21 PM
Anonymous said...: I've never seen a walrus push a shopping cart before.; July 13, 2008 5:26 PM
Anonymous said...: My wish is to be a jack booted thug working for the feds, kicking these spoiled lazy brat's heads in.

The jack booted thugs will be kicking your head in you brain dead jackass. You smell like a guy who got his ass kicked by the cheer leaders, ergo your need to be a tough guy online. When this thing heats up its going to be fun dealing with self appointed tough guys like you. I personally do not wish these two any harm. Peace out (were the hell did you get that.); July 13, 2008 5:36 PM
Anonymous said...: You know how it is. When the going gets tough, us fat-ass Americans charge it.

The worse it gets, the sharper the NASCAR leather jacket we put on our credit card.

This is going to get ugly(er).; July 13, 2008 5:43 PM
Anonymous said...: Take a few days away from the internet and try, just TRY to get your news from television. It's ridiculous.

Wake up, make coffee, turn on the TV. Switch from news channel to news channel to news channel. 15 minutes later you will want to scream. There is no freaking news on TV.; July 13, 2008 5:51 PM
Anonymous said...: nope, not yet.
most I Know are still in La LA LAnd.

Its going to be a very rude awakening!!!

We are in one hellova mess right now and it is going to get much worse.; July 13, 2008 5:59 PM
Lost Cause said...: Wha?; July 13, 2008 6:00 PM
Anonymous said...: Keith,

Your Walmart bashing is not making sense. Standard of living is what you can buy with your "money" not how many zero's are there on the funny paper that you hold in your wallet. Walmart's low prices is one of the very few things out there keeping a lid on price inflation.

What's causing prices of practically everything else go up is all the money printing by the FED, which is being used to prop up the buying power of government-connected insiders. If and when Walmart stops being able to procure cheap manufactured products from overseas, the living standards of joe-six-pack will be much much worse. Local grocers and merchandisers actually pay less per hour to workers than Walmart despite their higher prices . . . they are just less efficient than Walmart. That's why Walmart supports increasing minimum wage, in order to use government power to shut down competition (just like all its competition routinely want to use government power to shut Walmart down) . . . one of the few things that Walmart actually should be criticized for.; July 13, 2008 6:01 PM
Anonymous said...: "It's a viscous circle - shopping at wal-mart is making people so poor they have to shop at wal-mart"

Keith,

That's a common theoretical folly that people commit . . . assuming econmies are static steady state affairs with money slushing around without purpose. Think of this way: if your town passed an ordinance that only locally grown food in town can be sold, and no food can be imported, then posting guards at every street leading into town checking vehicle contents . . . potato price will shoot to $50/lb (that's how much I'd have to charge if I grow potatoes in my half acre backyard), but will that really bring prosperity to town? The fact that we have higher standard living than that is because we have potato import from Idaho and Maine selling at 50-70 cents a pound.

Economy is about the constant search for more efficient solutions. Yes, even those dumb-looking Walmart shoppers in that picture are optimizing for their own benefit, and discplining manufacturers and distributors every step of the way. That's the reason why money economy is better than economies based on government ration coupons . . . individuals can constantly change the way they spend money in search of efficiency (manifest by lower prices or higher quality/quantity for the same price) instead of being fixed into a ration coupon sloshing steady state. As Malthus wrote over a hundred years ago, when he erroneously assumed steady-state economy as the norm, humanity would be doomed in that state due to population growth. Any wonder why all the steady-state assuming socialist/government-interventionist schemes eventually all bring forth the need for killing people off? LOL.; July 13, 2008 6:20 PM
Anonymous said...: "my only question is how do you all have all this time to blog?"

Not having to deal with a super-model's drama saves a lot of time.; July 13, 2008 6:22 PM
Anonymous said...: Uh, no. No one is paying attention, cuz MSM is not reporting the story.
The Fed Banks are in charge and they have a free reign to take your tax dollars to prop up the banks and them selves without congress.

Taxation without representation.

Socialize the losses and privatize the gains.

Read and be OUTRAGED.

http://www.tickerforum.org/cgi-ticker/
akcs-www?post=51965; July 13, 2008 6:27 PM
Anonymous said...: Anyway, just my two cents, you may now return to your regular program of end of the world is near.

July 13, 2008 12:46 PM

_______________________________
Have some more kool aid. Nothing to see here for the likes of you.
Now back to your "Head in the Sand" scheduled programing, and I do mean Programing of your brain.
You are still under the influence of the Blue Pill, imo.; July 13, 2008 6:32 PM
Anonymous said...: "Europe, as showcased by the Irish and other no votes to the EU, have that stock today. When did they get it? I wager that they had their stock of morality replenished by the bayonet, the bomb, and famine. Many bad people were killed off. Many borderline people were scared into behavior."

Ireland is very different from much of the rest of western Europe. Irish prosperity of the last 20+ years was the result of lower taxes . . . and because they were previously poor, their government was small and took/takes time to "catch up" in socialist programs. Similar situation is taking place in Eastern Europe . . . you know the land of the formerly "dumb, lazy and retarded" Slavs. (sacarsm alert; obviously race doesn't have much to do with economic success) Easern Europe has been having much greater economic growth than Western Europe in the past couple decades.

I agree with you that previous success does occasionally tend to bring laziness and irresponsibility . . . the mechanism through which it works is the big welfare state put in place in good times . . . which becomes disproportinately burdensome when the underlying economy stagnates or shrinks.

Iron-fisted government is not the answer . . . smaller government is.; July 13, 2008 6:35 PM
Anonymous said...: "which constitutional branch the vice president belongs to. . ."

That's actually a good question. Vice President has no Constitutional executive power unless he is acting as President in the latter's incapacitation. On the other hand, Vice President is the president of the Senate, with tie-breaking vote . . . in a senate that is Constitutionally set up to have even number of senators (2 from each state).

The Constitution was written with an eye to discourage the formation of political parties . . . the one getting the most votes would be president, the runner up the vice president. They were most likely to be political opponents. In fact, that's exactly what happened at the first contested presidential election, the elected president John Adams and the elected vice president Thomas Jefferson belonged to opposite political factions. It took the invention of paired "tickets" in the next election and Aaron Burr's loyalty to Jefferson (he would have won more votes than Jefferson in the electoral college but refused to be president because Jefferson had selected him as vice president in the ticket). Paired "tickets" are not part of the Constitution.

BTW, the third in line of succession is the Speaker of the House, who is obviously part of the Congress not executive, despite his/her succession position for presidency.; July 13, 2008 6:54 PM
Anonymous said...: Do you think your fellow Americans are paying attention now to what's going on?
Yup. As far as banks, food, and gas. As for houses, I think less than half the people have a clue.; July 13, 2008 7:06 PM
Anonymous said...: Wallmart is a great succes. If no government interference took place, perhaps American products could compete with Chinese products on the shelves.

Since Socialism is alive and kicking in the States (just like in Europe), it's the Chinese products that get the advantage and Wallmart could not exist without customers.

Who's to blame: Wallmart or the customer? And is it blame, or just their viable economic choice?; July 13, 2008 7:30 PM
blogger said...: Back to the original point - are people you know paying more attention now?; July 13, 2008 7:51 PM
Anonymous said...: Nope.

A certain uneasy undercurrent percolates but, as many others note, nobody gives a hack about anything until their ox is gored.

The wheels really come off next spring after a Very expensive winter heating bill.

Can't wait to attack Iran :); July 13, 2008 8:41 PM
Anonymous said...: If we just end taxation, remove all regulation and let the people have their way, the every-man-for-himself society will be like Utopia.

Isn't that what you brainstems believe? Isn't that what you voted for?

ENJOY!

xoxo,

BR; July 13, 2008 9:22 PM
Anonymous said...: No. My family got together for dinner Friday and the first thing that was mentioned was "did you hear people can't get their new iphones working?". Then I mentioned, "did you hear the 2nd largest bank failure in American history happened today?" Deer in headlights all around.; July 13, 2008 9:52 PM
Anonymous said...: obama gonna gits me a check; July 13, 2008 10:04 PM
Anonymous said...: "Back to the original point - are people you know paying more attention now?"

As of last Friday, yes. I got a call from one of the OLD guys in family. He's been in the Stock Market since Eisenhower was President. I'd told him I'd moved all my holdings into cash. He, at the time, didn't say anything.

Friday evening he called me up. I happen to know what a few of his holding are and his portfolio is worth a lot less these days.

Here's the point - When one of the old time Republicans in the family takes the time to phone me to pay me a compliment, the world has shifted on it's axis.; July 13, 2008 10:32 PM
Anonymous said...: If we just end taxation, remove all regulation and let the people have their way, the every-man-for-himself society will be like Utopia.

Instead we have Freddie, Fannie, FHA, FDIC and other socialist FDR programs to soak up taxpayer money and give it to the bankers. Are you brainstems happy with your socialist regulations now?; July 14, 2008 12:14 AM
Anonymous said...: The wheels really come off next spring after a Very expensive winter heating bill.

I don't live up north so I don't give a flying fuck. Let those arrogant SOB's freeze to death.; July 14, 2008 12:15 AM
Anonymous said...: Well, it's too easy to pick on the poor and the elderly who shop at Walmart. I do think that more Americans are paying attention to the ongoing demise of the economy. It's really more of a question on what exactly to do about it. The American dream has been to aspire to have what others have since the 1950s. You can't change this pattern of behavior overnight. The media blackout contributes to all the misinformation and serves as a smokescreen for those whose main concern is to just simply get by. It's no surprise that our greatest American export is Hollywood. While many in other countries have access to world news, those in America have to actively look for it.; July 14, 2008 12:40 AM
Anonymous said...: If you said yes I challenge you to something.

Go to the mall and just wander from store to store walking by register in each location. See people swiping the credit cards. Go to Wall Mart and watch the transactions taking place. If people got it they would stop spending frivolously.

See people have these little plastic cards that make them invinsible to economic problems that we are drowning in. They don't realize that this is the exact weapon of self destruction. Now why should credit card debt, auto debt, gas card debt, mortgage debt, etc. give anyone anythinhg to worry about. It gives them all the buying power they need and if they can't afford the monthy bill and no consequences.

I just came home from shopping with my wife. We make great money. She spent 25.00 dollars on a pair of shoes she found on sale. I was horrified with what I saw at the registers around me. We live in this shithole called the Imperial Valley of California for work reasons. We are both a minority of people in the areas that have a BA or BS. Only 7% of people in the area have one. Most of the area is poor. New malls mare going up at an alarming rate. Were is the money. Credit cards. You don't have to pay those back you really don't.
Oh it is ok the feds will jump in. Don't worry.

Look at the way people are still acting and spending. Markets are down because responsible people are cutting back on there expenses not because irresponsible are. Foreclosure are huge in our area, as most, and you see people unloading furniture and all kinds of new crap they just bought the month before they are out of there house and a sign says bank owned on their front lawn.

I say it is time for a revolution and if you want to be a citizen who wants to bring this country and me down then I say you can meet my little friend. His name is slug and when he gets in your head he will change your thinking for you.; July 14, 2008 12:51 AM
Anonymous said...: "... When one of the old time Republicans in the family takes the time to phone me to pay me a compliment, the world has shifted on it's axis."

LOL, Libvet! I know of this shift. My father, a lifelong staunch supporter of the republican party & fierce defender of corporate deregulation, finally agreed that his party was made up of corp facists over lunch a few weeks ago. It wasn't until he called for Wall Street regulation that I nearly snarfed diet Coke out my nose. Of course, he's only pissed now because his pocket book is taking a hit. RV'ing has suddenly become unaffordable to him.; July 14, 2008 1:39 AM
Anonymous said...: reality stop making sense, you are scaring the children here; July 14, 2008 1:56 AM
Anonymous said...: that is a pretty disgusting picture isn't it? why do we look like that? how long did it take for us to look like that? but ask them and they will tell you. we are free men and women......yeh pal, just keep telling yourself that.....; July 14, 2008 1:58 AM
Anonymous said...: if they knew what was going on, there would be a run on the banks. they have too much trust in the system and think that the good old us of a will always come to the rescue and nothing bad will ever happen to them. but who is the good old us of a when it comes to money? it is us. we are the backstop......we are the ones that have to pay the bill when it is due. the government has no money. but go and attempt to explain it to these morons and you get the same old tired adage. nobody wants to talk about that sort of thing. you are so negative.........blah blah blah......sometimes i fantasize what it would be like if all the things i think will come true, do so......and then i have the opportunity to get even , to make them eat humble pie.....but the facts are this. when that day comes and it will.......it will be bitter sweet. for you see, i live here too....; July 14, 2008 2:02 AM
Anonymous said...: Liberals hate walmart because it is sucessfull. It is an American success story and the left can't stand it. The left hates all success stories. Clinton's Justice department nearly killed Microsoft in the 90s. It has never really recovered since. Unions killed the auto industry with help from Democrats. Not content with that they nearly killed airlines too. And now Nancy and Harry will put the final nail in the US economy with the cap and trade idiocy which will be the greatest job creating bill ever enacted....for China and India.; July 14, 2008 2:02 AM
Anonymous said...: What are they loading up on? I see a overwieght couple with an empty shopping cart. Maybe a bag of dog food on the bottom rack?? whats in the cart a tube of toothpaste???? at least find a picture of people shopping with at least a Guitar hero or a plasma tv in there!; July 14, 2008 3:00 AM
Anonymous said...: Oh come on Keith. Big Brother 10 just debuted tonight! Guess what? NONE of the people on the show knew each other!! OMG! This is SO exciting. PLUS the new iphone!OMG!!!

Now what is this about Andrew Hac's roasted Americano Snapping Turtles shopping at Walmart for the Terrapin Insulin made in China? Sorry about all the toxins in the turtle insulin.; July 14, 2008 4:25 AM
Anonymous said...: The dumb fat happy pig people in the picture pay attention? Are you shitting me?

That guyt hasn't seen his dick since 1978 and I don't even want to discuss her...

They will pay attention when they can no longer buy cheese doodles with a credit card.

Fuck America. DIE U PIGS; July 14, 2008 6:38 AM
Anonymous said...: reality -

no offense, but the office being called that of the 'Vice President' with the holder of that office becoming president when the current president is no longer capable of holding office, should be a small clue as to what the framers of the Constitution thought. Article II might be helpful to read here - http://caselaw.lp.findlaw.com/data/constitution/article02/

Your example of succession is not really relevant, as the Constitution clearly states that succession beyond the president and vice president is in the hands of Congress.

Further, the tie breaking role in the Senate does not make the vice president a member of the legislative branch any more than the president being required to give the state of the union address to Congress, or the president's ability to convene both houses - simply appearing in the chamber on a constitutionally mandated duty or convening both houses does not make one a member of the legislative branch.

Though Bush should take a shot at it - then he could then just rubberstamp himself, instead of just ignoring the law as has been the case till now.; July 14, 2008 12:51 PM
Anonymous said...: "Liberals hate walmart because it is sucessfull. It is an American success story and the left can't stand it. "

Another simplistic statement taken from the non-intellect Sean Hannity.

"The left hates all success stories. Clinton's Justice department nearly killed Microsoft in the 90s. It has never really recovered since."

After Bill Gates has tried to destroy the middle-class with his endless lobbying for more H1B visas, am I suppose to feel bad for him?

"Unions killed the auto industry with help from Democrats. Not content with that they nearly killed airlines too."

Both airlines and auto manufactures have suffered as a result of bad management, just like the finance industry is today.

"And now Nancy and Harry will put the final nail in the US economy with the cap and trade idiocy which will be the greatest job creating bill ever enacted....for China and India."

China and India have been getting our jobs for years under the failed Bush open trade policies.

Why don't you get an education and learn to do your own research instead of repeating verbatum the brain farts of Larry Kudlow, Sean Hannity and Rush Limbaugh?; July 14, 2008 1:19 PM
Anonymous said...: No, most don't know what Fannie and Freddie are and or have never heard of them before (that they can recall); July 14, 2008 3:54 PM
Anonymous said...: I am 90% certain that there will be a market crash on Monday.
-------------------------------

sometimes that 10% can be a bitch; July 14, 2008 3:55 PM
Anonymous said...: "...am I suppose..."

"...auto manufactures..."

"Why don't you get an education and learn to do your own research instead of repeating verbatum..."

LOL It is so gratifying to read some HP pompous jackass post for someone else to get an education while only nailing the spelling in one or two of their own sentences. Priceless. It keeps me coming here everyday, just for the entertainment value.; July 14, 2008 6:50 PM
edd browne said...: They don't understand that
everything they do, and
don't do, matters every day;
and that hope is an excuse.; July 14, 2008 9:24 PM
Anonymous said...: Hmmm...the same America that gives you those in the picture, gives you Scarlett Johansson, Jessica Biel, Milla Jojovich, etc, etc, etc. So don't be hatin'.

And that goes to you too, Andrew Hac.; July 15, 2008 7:00 AM
Anonymous said...: Clinton's Justice department nearly killed Microsoft in the 90s. It has never really recovered since.

Not really. MS doesn't do well because they make overpriced crappy products.; July 15, 2008 7:02 AM
Anonymous said...: Jim Rogers was wonderful today on CNBC Europe.

"If you blame shortsellers [for the problems of Fannie Mae and Freddie Mac] in all frankness, you should find another job!"; July 15, 2008 12:48 PM
Anonymous said...: Keith,
Check out this article. Hopefully this will wake up the Phoenicians a little: http://online.wsj.com/article/SB121617220846656637.html?mod=googlenews_wsj; July 16, 2008 9:10 PM

HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008

July 13, 2008

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