September 23, 2008

HousingPANIC Classic Quote of the Day

"The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained"

- Ben Bernanke, Idiot, March 2007

17 comments:

Anonymous said...

How to Protect Russia From U.S. Contagion

U.S. Secretary of State Condoleezza Rice gave a bizarre speech last week in which she warned that Russia's policies are pushing the country into international isolation. She got it exactly backward. This is precisely the Russian government's plan. I am talking about the country's financial markets.

Russian leaders are taking sweeping measures to insulate the economy from the financial contagion that is now sucking the United States into an economic black hole.

"They have set us all up!" President Dmitry Medvedev said recently, summing up the Kremlin's mood toward Washington's disastrous economic policies that led to the buildup of dangerous market bubbles -- from housing prices to credit swaps and other under-collateralized securities.

http://www.themoscowtimes.com/article/1016/42/371112.htm

vanilla ice said...

Bernanke, how about an apology for your never ending stupid comments and policies? You are as much to blame for this disaster as anyone.

Anonymous said...

How are these people in these positions!! I blows my mind!!!

Nick said...

Hey DOPES/HP'ers:

As long as folks around the world buy our treasuries, everything will be fine. The world has no other alternative than to continue to support us. By hurting us they hurt themselves. So do you think that will happen? I think not!

drew said...

Keith and all, check this out:

http://tinyurl.com/4eawrz

Seems this bailout plan from the Giant Talking Penis may actually be a game to bail out the Fed more than anyone else.

Devestment said...

http://tinyurl.com/wfxu

Scott said...

Come now, don't be so angry-
Hank's Friends need the money for the 4th Hampton home, and the 1000 acres in Paraguay to escape to.
You are just being selfish.

consultant said...

Bernanke is just another example of the typical American leader of today. Lie, lie, lie, as long as you can. As long as you can get away with it.

And when it collapses. You just walk away.

No apologies, no resignations, no jail time, no consequences.

We have become a South American country.

A really fucked up country.

Anonymous said...

How can these guys talk this smack with straight faces???

It's like having several of your teenage sons come to you, after months of professing that they're getting straight A's and staying out late just to volunteer at all- night church camp, only to disclose that they're actually flunking every subject in school, your credit card limits have been completely maxed out, they've refinanced the family home, totalled the family car, and emptied your 401k... But HEY! They have a PLAN! If you would just give them your checkbook and the keys to another working vehicle and -- THIS IS IMPORTANT, MOM -- do not call or text with a bunch of dumb questions, they could, like, have this whole thing turned around in a couple of hours. And maybe even make you a little cash in the process -- sweet! Because they're a little worried you're going to, like, really need it... Duh...

(I'm flabbergasted. In fact, I'm right now combing through the dictionary looking for some underutilized words that can sum up feelings that go far beyond the borders of outraged, disappointed and/or concerned... L.)

Anonymous said...

Keith,
I live in South Jersey. The housing prices have stayed the same. My Aunt lives in Somers Point Nj and a house next to her is up for sale. This is a modest rancher 3 bd 1 bath newly renovated, it is located across a public golf course...The asking price??????
450,000... Yes sir.
Nothing has change in our neck of the woods.
Homes that were listed for 80,000-120,000 just 8 years ago have increased to these numbers.
Salaries have decreased. Unemployment in our area is on the rise. We have sooooo many illegals due to the casinos it has driven out good paying jobs.
When will America wake up? We don't make a pencil in this country. We have no new jobs. All of my family and friends made money from the Stock Market or real estate...You know the bubble has to burst. What happened to a GOOD paying job?
Sad day in America. But we have only one way to go and it is going to be a very difficult one.
I just hope the poor people don't suffer any more, its always the poor who has to pay the price.

Anonymous said...

Bernanke looked very nervous in front of congress, I feel sorry for him.
I do...He looks scared.
He admitted he is a college professor knows nothing about wall street....

Miss Goldbug said...

Anon said:" Bernanke looked very nervous in front of congress, I feel sorry for him.
I do...He looks scared.
He admitted he is a college professor knows nothing about wall street...."

I'm so angry!

Reading books and writing a thesis about the Great Depression isnt going to cut it!

Pansy Ben is only thinking about his shiesters Wall Street friends, istead of this nation and our citizens.

usmanufacturing said...

To anon September 23, 2008 4:38 PM (aka Chicken Little):

"When will America wake up? We don't make a pencil in this country. We have no new jobs."

Here you go - pencil manufacturers. Note the ones in the US.

http://www.pencilpages.com/mfg/index.htm

You're welcome...

As far as your post, thanks for nothing. Since you haven't checked basic facts, how can anyone know about the validity of the rest of your post without researching it phrase by phrase?

Anonymous said...

what does the printing up of 10, 20, or 30 debt dollars indistinguishable from and allowed with the deposit of my one dollar in the bank have to do with my one dollar not being able to afford the bidding on houses with 10 dollars agaINST IT......or the price of houses or the bogus paper securities...................

Anonymous said...

UsManufacturing said: As far as your post, thanks for nothing. Since you haven't checked basic facts, how can anyone know about the validity of the rest of your post without researching it phrase by phrase?"

-----

You're such a twit.

Anonymous said...

When he said it "seemed contained", he meant it was contained among the poor, and the effect wouldn't reach the rich who fleeced them.

Ooops! Plan B!

Anonymous said...

How are these people in these positions!! I blows my mind!!!

You mean, how was Bernanke hired in this position? How was Brownie head of FEMA? How was Rumsfeld Secretary of Defense? How was Harriet Myers almost a Supreme Court justice? How was a key player in one of the most polluting companies in the country put in charge of the EPA?

Hmmm, let's see, is there a common thread? Hmmmmmmm.....