July 26, 2008

This is the best video I've ever seen on the Late Great $2.5 Trillion US Housing Ponzi Scheme.



When HP started in 2005, it was hard to get to the truth of what was going on.

No more.

Now it's all out there for everyone to see. All of it, the whole big stinking heap.

And yet the IRS, the FBI and the US Justice Department sleep.

And worst of all, our corrupted Congress, our incompetent president, our Wall Street run Treasury Department, and the unaccountable US Federal Reserve are putting your kids, and their kids, and their kids, and their kids, and their kids, and their kids, and their kids, and their kids on the hook.

Unless the people rise up and demand an end to the bailouts. And unless the Republicans grow some balls and stand up to the free-spending Democrats and their gutless President.

Hat-tip to FedUpUsa.org.

33 comments:

edd said...

Karl Derringer is not an authority
on the subject, nor is he formally trained in financial matters.

Further inquiry into his profile
indicates that he is not a person
who I should rely on for matters
beyond information technology.

I don't claim he is wrong on the
credit mess; just that I can't take
his word for it.

Anonymous said...

im afraid its too late for you folks
- a French Frog

edd said...

However, the video is consistent
with this Bill Fleckenstein tirade.

http://tinyurl.com/5rw3v8

keith said...

$1.43 trillion of government money so far..

http://www.cnbc.com/id/15840232?video=803917512

what a mess

Anonymous said...

No one can stop this economic avalanche that is coming towards us.
I make it simple and sweet for you, if you can afford it and if you want to minimize the impact to your wallet do the following quickly:

1- Buy Gold

2- Buy Silver

3- Buy Bullets!!!!

D. said...

Obviously, the government is shoving the costs down the taxpayers throats and the taxpayers are starting to fight it. But what is their alternative? Making the investors pay? But who are these investors? China, the Arab countries, oil producing countries. Imagine the political implications of the USA defaulting on its debt when such a huge proportion of it is owned by foreigners with whom they don’t really get along!

The US really is stuck between a rock and a hard place!

D. said...

Karl Derringer is not an authority
on the subject, nor is he formally trained in financial matters.

Further inquiry into his profile
indicates that he is not a person
who I should rely on for matters
beyond information technology.

I don't claim he is wrong on the
credit mess; just that I can't take
his word for it.
---

Keep on listening to Paulson, he was the head of Goldman wasn't he. Can't get better input than his, can you?

Cheers

p.s. Do you really think the ones in the know will ever admit to this mess any time soon? They will admit to it when and only when we will have reached rock bottom. And it will be too late for most.

shtove said...

Edd said:

"I don't claim he is wrong on the
credit mess; just that I can't take
his word for it."

Can you nominate someone whose word you can take?

Economists? Regulators? Bankers? Talking heads on CNBC?

Denninger doesn't have an MBA, but his arguments are consistent and complete, and all fully documented on his website. And they've been spot on since March 2007. Good enough for me.

Anonymous said...

this guy goes to the trouble of making this video. then at the end, he says ......call your congressman....

he just doesn't get it.

ITS OVER! DEAL WITH IT!

Anonymous said...

No one can stop this economic avalanche that is coming towards us.
I make it simple and sweet for you, if you can afford it and if you want to minimize the impact to your wallet do the following quickly:

1- Buy Gold

2- Buy Silver

3- Buy Bullets!!!!

July 26, 2008 11:31 AM<<<


yep, that's about it.....

of course if you said that on tickerforum, you would immediately be kicked off.......

Holy Schlitz said...

Did anyone really expect anything else? As long as we can get foreign countries to lend our government money, we will continue to pile on debt. What is sad is that future generation will hate us more than I hate the baby boomers who have been running the country for the last 20 years. They took corruption and greed to a whole new level and stuck it to future generations. Thanks boomers...

Nation of Assholes said...

"edd said...
Karl Derringer is not an authority
on the subject, nor is he formally trained in financial matters.
I don't claim he is wrong on the
credit mess; just that I can't take
his word for it."

Your perogative. Continue taking Bushco-Cheneyburton,PaulsonSachs and BenankeBeards's advice. They have done GREAT for you and The Nation so far...

Oh, and make sure to vote for self-admitted financial genius McShitstain in November.

What a Nation of Assholes.

Democraatus said...

Let's vote McCain and have more of the same. Hell, let's vote Obama and have the same too.

Beyond repair.

Think of it like this:
1. a great story for your grand children
2. after bad times, there will be good times

Anonymous said...

this guy goes to the trouble of making this video. then at the end, he says ......call your congressman....

he just doesn't get it.

ITS OVER! DEAL WITH IT!

I was thinking the same thing. Call your corrupt, whore of Congressman who likely took a sweetheart loan from one of these pieces of shit? Hate to say it folks, but the only way out of this mess is to BLAST our way out . . . and hang, and blow up and stab, etc. You get the picture. It's time to start wasting some people.

Otherwise it truly is GAME OVER!

Anonymous said...

this guy goes to the trouble of making this video. then at the end, he says ......call your congressman....

he just doesn't get it.

ITS OVER! DEAL WITH IT!

By all means, call your Congressman. I'm sure he and his interns will have a good laugh at you after they hang up. No one will be laughing when some hedge fund manager or career, business-as-usual politician is found strung up on a light post.

Anonymous said...

Well, looks like hard working savers are going to bailout Clownifornia home flippers with their savings.

Well, my two Texas senators voted no. Happy about that.

How did Obama and McCain vote? Or were they not present? Just trying to see some leadership here.

The Housing Bubble Ate My Balls. said...

Game Over...


We Loose...

http://tinyurl.com/57uvdk

Anonymous said...

Yet 90% of incumbents will be re-elected by the stupid masses who have no clue what is going on. They think Messiah Obama will save them. He is just as corrupt as the rest and alot dumber

Anonymous said...

edd said...

Karl Derringer is not an authority on the subject, nor is he formally trained in financial matters.

You mean formally trained like Bernanke of Harvard?

k.w. - Southern Ca. said...

Whether you rent, house debt or actually own, you will be hit by taxes that will leap into the stratosphere once this bail-out takes effect.

It helps only one class of people - the ultimate wealthy, who stole from everyone so that they can continue living their overly lavish lifestyles.

Who will you be voting for, and will it really make a difference?

k.w. - Southern Ca. said...

You're not serious are you?

Do you mean to tell us it takes someone with a degree from a prestigous school, along with several initials after their name in order to be taken as credible?

Keep this in mind - many of these same "educated" people are the ones continually lying to the public as to the state of our economy.


Karl Derringer is not an authority
on the subject, nor is he formally trained in financial matters.

Further inquiry into his profile
indicates that he is not a person
who I should rely on for matters
beyond information technology.

I don't claim he is wrong on the
credit mess; just that I can't take
his word for it.

Anonymous said...

My only hope now that our elected officials have once again chosen to SCREW responsible, tax paying citizens– is for this list to circulate far and wide in the blogs, where millions of Americans are now so pissed off, they don’t know what to do!!

Every single person that voted YES has been bought and paid for by the massive lobbyist efforts of the GSEs, and should be voted out of office ASAP!! Let’s start a nation-wide movement to remind them WHO they really work for by truly voting them ALL OUT…

Here is how the Senate Voted. Only 13 Republicans opposed the Bank/irresponsible borrower Bailout bill of 2008:

Grouped By Vote Position YEAs —72
Akaka (D-HI)
Alexander (R-TN)
Baucus (D-MT)
Bayh (D-IN)
Bennett (R-UT)
Biden (D-DE)
Bingaman (D-NM)
Boxer (D-CA)
Brown (D-OH)
Brownback (R-KS)
Byrd (D-WV)
Cantwell (D-WA)
Cardin (D-MD)
Casey (D-PA)
Chambliss (R-GA)
Clinton (D-NY)
Cochran (R-MS)
Coleman (R-MN)
Collins (R-ME)
Conrad (D-ND)
Craig (R-ID)
Crapo (R-ID)
Dodd (D-CT)
Domenici (R-NM)
Dorgan (D-ND)
Durbin (D-IL)
Feingold (D-WI)
Feinstein (D-CA)
Gregg (R-NH)
Hagel (R-NE)
Isakson (R-GA)
Johnson (D-SD)
Kerry (D-MA)
Klobuchar (D-MN)
Kohl (D-WI)
Landrieu (D-LA)
Lautenberg (D-NJ)
Leahy (D-VT)
Levin (D-MI)
Lieberman (ID-CT)
Lincoln (D-AR)
Lugar (R-IN)
Martinez (R-FL)
McCaskill (D-MO)
McConnell (R-KY)
Menendez (D-NJ)
Mikulski (D-MD)
Murkowski (R-AK)
Nelson (D-FL)
Nelson (D-NE)
Pryor (D-AR)
Reed (D-RI)
Reid (D-NV)
Roberts (R-KS)
Rockefeller (D-WV)
Salazar (D-CO)
Sanders (I-VT)
Schumer (D-NY)
Sessions (R-AL)
Shelby (R-AL)
Smith (R-OR)
Snowe (R-ME)
Specter (R-PA)
Stabenow (D-MI)
Stevens (R-AK)
Sununu (R-NH)
Tester (D-MT)
Voinovich (R-OH)
Webb (D-VA)
Whitehouse (D-RI)
Wicker (R-MS)
Wyden (D-OR)

NAYs —13
Barrasso (R-WY)
Coburn (R-OK)
Corker (R-TN)
Cornyn (R-TX)
DeMint (R-SC)
Ensign (R-NV)
Enzi (R-WY)
Grassley (R-IA)
Hatch (R-UT)
Hutchison (R-TX)
Kyl (R-AZ)
Thune (R-SD)
Vitter (R-LA)

Not Voting - 15
Allard (R-CO)
Bond (R-MO)
Bunning (R-KY)
Burr (R-NC)
Carper (D-DE)
Dole (R-NC)
Graham (R-SC)
Harkin (D-IA)
Inhofe (R-OK)
Inouye (D-HI)
Kennedy (D-MA)
McCain (R-AZ)
Murray (D-WA)
Obama (D-IL)
Warner (R-VA)

Anonymous said...

Just kill ALL these corrupt bastards !

Ive had ENOUGH of this bullshit!

Anonymous said...

"...No one will be laughing when some hedge fund manager or career, business-as-usual politician is found strung up on a light post..."

I will be; with a smug smirk in honor of a famous national leader.

Not that I condone anything like that; tut tut, heavens no...

There are enough Americans with balls left who truly love what this cuntry once was.

They will act once they understand who has done what to it.

Anonymous said...

The FDIC and Fed are going to stabilize the situation.

Stupid renters, the banks will get ALL THE MONEY THEY NEED from the Federal Reserve!

HAHAHAHAHA!

DOPES!!!!!!!!!!!

Anonymous said...

Anonymous said...
There are enough Americans with balls left who truly love what this cuntry once was.

They will act once they understand who has done what to it.

The issue isn't balls, it's brains.

Probably don't want to hold your breath for that.

JaneZ

bickerer said...

Wow, and to think just a week or two ago we HPers thought Dodd's adventures coming to light would derail his nutty bailout efforts.

I guess we had no idea what we were up against. But probably the most glaring thing is stupidity. The idiot sheeple voters are demanding action.

a.creampuff said...

Don't know whether to laugh or cry. Feels like we're going over that cliff any time now.

Anonymous said...

"...The issue isn't balls, it's brains.

Probably don't want to hold your breath for that.

JaneZ


Wouldn't make me any stupider; with little education and even less innate aptitude, I'm fresh out of ideas about what we could possibly do to help ourselves as a whole.

It's everybody for themselves, I guess.

Lamaria said...

"I guess we had no idea what we were up against. "

Oh I knew that it would pass. I doubt we could have made a difference short of having had mustered nearly everyone in this nation to get in contact with their representatives and actively protesting.

IMO the real power lays with the huge media outlets. I bet pound for pound we would actually have more impact calling, mailing, and e-mailing THEM instead of congress.

Going over my post, I sighed inwardly.

yu been skooled said...

Great Vid,
Up there with such classics as Sicko.

Anonymous said...

All the Senators that voted against the Housing Bill are in States that the bubble did not get so huge .When you think about it ,why would someone in a non-bubble state want to support the folly and fraud of a off the chart bubble state like Florida ,California ,etc.

15 Senators did not vote at all . What is that all about .

But its clear that the DEMOS were the major supporters of this bill .

I would love to talk to the Senators who said NAY to the bill and ask them why they voted against it .

But I agree with the poster that it's clean house time with this corrupt bought out government body

I suspect that a good portion of the money is going to go to just placing bad loans into Fannie and Freddie ,and they will be backed and paid for immediately by the Treasury back up .

Paulson wanted a blank check ,but he settled for 800 billion .

John S said...

So how do you think the government will pay for this mess? Will we see a 75% income tax rate next year? Or will they try to print their way out give us a 800% inflation rate? Either way the middle class is history.