As I said over two years ago, the Housing Crash would be the #1 issue in the 2008 election, and it would change everything

October 19, 2008

As I said over two years ago, the Housing Crash would be the #1 issue in the 2008 election, and it would change everything

Any questions?

59 comments:

Roccman said...: The number one issue for the 2012 election...

The Die Off of the human species...

Shipments to Long Beach down 15%...IN SEPTEMBER.

Hmmm wonder if food was on those containers?

www.dieoff.com

Cheers!; October 19, 2008 1:57 AM
Roccman said...: This comment has been removed by the author.; October 19, 2008 1:57 AM
Anonymous said...: My goodness Keith you are amazing. I was just about to post a comment and request that you would post this very photograph.
Keith who are You??????
Agent 007??
This photograph made me Proud for the first time in my life of America!!!!!
They can't steal this election.; October 19, 2008 1:59 AM
johnta said...: You've always been right, sir. You are the soothsayer.; October 19, 2008 2:06 AM
Peahippo said...: But Keith, you were only 1/2 right. It largely became a major issue in the campaign. But largely also nothing substantive has changed. The denials about causes and effects are still HUGE. People are continuing to make short-term decisions with the full intention of having those so-called solutions last into the long term. Doesn't that sound familiar to you? Sounds like a pay-option ARM, doesn't it?; October 19, 2008 2:33 AM
Anonymous said...: None.

The WSJ had an article today called The Confidence Game. Here's a quote: "Not one professional investor in fifty, probably, doubted that wads of subprime mortgages could be refashioned into bonds that were just as credit worthy as US Treasurys".

So, that's 2% of the professional investor population that doubted the subprime slime (probably all employed by Goldman Sachs since they shorted subprime). Keith, you were in that 2% a few years ago.

Now, out of the general population, however, you probably stand alone, or with just a handful of others.

Thanks man.; October 19, 2008 2:56 AM
Anonymous said...: It's hard to argue with your assessment as our economy is the number one focus and our housing market debacle is the major contributor.

Hopefully it does change everything because change is what we desperately need.

Incompetence and intellectually challenged leaders should be left to the pool parties not the White House.; October 19, 2008 2:58 AM
Anonymous said...: Poor John McCain.

Didn't know when to throw in the towel to save his dignity.

Probably, one-on-one, one Hell of an admirable and honorable man.

And people wanted to have a beer with the ignorant, bumbling, stumbling stupid failure George Bushco... Look where that got America. Two losing wars and an economic depression and there are still a couple of more months for George Bush to fuck up some more.
You gotta believe that George is back on the bottle...

But guess what, Fuck that.

John Herbert Hoover McCain walked out on that highwire limb, and it got chopped down with him standing at the outer edge... He is in freefall now, and the ground is coming up very fast.

Unless a plane drops out-of-the-sky or another unnatural tragedy, like someone getting whacked in front of one hundred thousand people or so occurs in the next 18 or so days, John McCain has failed and is doomed.

The angry senile old warmonger wants to run America in the 21st Century? I don't think so.

McCain chooses and defends what has proven to be an idiot for Vice President? He must be doing bad drugs.

McCain-Palin, you are reaping the whirlwind of the WORST MOST DESTRUCTIVE ADMINISTRATION EVER.

George W. Bushco-Dick Cheneyburton Most Hated Men In the World.

brought to you by the GOP/REPUBLICANS

The Party that Wrecked America

DIE U PIGS; October 19, 2008 3:28 AM
Anonymous said...: Yes I agree that it is the number one issue. It affects every home buying person sinking in the torried pools of mortgages. I offer this to soothe the mind of those LiarLoan-Interest Only--Underwater--maxed out--KeepinupwithJones, homebuyers(debtors) out there:

"There is nothing to compare with the AWESOME power and peace of mind, nothing anywhere, nothing--- that can be compared with being totally ONE HUNDRED PERCENT DEBT-FREE!!!!"; October 19, 2008 3:30 AM
Psycho said...: “any questions” … why yes,
Do all those sheep really think they can vote themselves higher housing prices?; October 19, 2008 3:33 AM
Anonymous said...: Yeah, what's your next prediction?

Obama the Messiah will save us all?; October 19, 2008 3:35 AM
Anonymous said...: The housing crash is NOT issue #1, the breakdown of the financial markets and their bailout is. The breakdown was induced by the housing bust, which in turn was made unavoidable by the extreme housing bubble until 2006. If Bush and the Republicans had been luckier, the breakdown would not have happened under Bush's watch but a year later - I prefer that it happened now, to connect Bush's presidency and the Republican dominance in congress 2002-06 to their devastating consequences and let Bush's successor start with a new deal.; October 19, 2008 3:51 AM
Anonymous said...: Calif. coast, town midway between SF and LA... Mervyn's is closing, its a BIG store right in the middle of town... ooooh that's going to look bad for new industry considering relocating here... then, speaking with a friend that just went back to work at Union Bank of CA here in town... she quietly told me that the "smaller banks will close" ... and she didn't have to tell me that to get the business, I've been at Union for 11 years... it took 3 weeks for me to find a part time job at 7-11, I work at local hospital during the day, and it was very difficult to find just that job at 7-11. Boy, its going to be ugly here when all those people are looking for work, at that point, they'll be begging any place for a min. wage job, does anyone realize how bad its going to get before it starts to get better? Oh and be really nice to the folks who work at 7-11's, they work their asses off, and me coming from a "desk job" ... I'm dyin" but glad I have the job!!; October 19, 2008 4:03 AM
Anonymous said...: That's what you said Keith and it's here. My family and I are better off for having read this blog.

Cheers.; October 19, 2008 4:24 AM
Bukko Boomeranger said...: My qustion is: Are all those people the ones who have been foreclosed out of their homes and now they're trying to get shelter in the Statehouse?; October 19, 2008 6:17 AM
Anonymous said...: Iraq who?; October 19, 2008 6:23 AM
Anonymous said...: the ghetto-fab celebratory riots will never be forgotten.

I want to see Obama on the TV saying, "Can't we all just get along?"; October 19, 2008 7:31 AM
Anonymous said...: And you see this picture as something positive? I rather see the crowd being skeptical about EVERY candidate, and not behaving like blind sheep.; October 19, 2008 8:43 AM
Anonymous said...: Shouldn't we write in "Ron Paul". Its obvious McCain or Obama are not fit to lead given the enormity of the task.; October 19, 2008 12:51 PM
Anonymous said...: Has anyone wondered exactly what is going on in the minds of the nervous nellie big lenders?

I picture something like this: "I have tons of bad paper on my books, so must the other guy. So I will sit on my mountain of cash." But this very lack of confidence is causing actual instead of imagined reasons not to lend. And all the central banks of all the world have opened their coffers, allowed mergers to take place that would never be allowed in normal times, working stiffs all losing their nest eggs... What do we have to do, put a gun to their heads?

Are they just a bunch of wimps, or is there something else holding them back, such as margin calls?

If this is really just psychological, then we don't need a Ron Paul. We need someone with high emotional intelligence. Like Barak Obama. Mr. Paul, however, should be a top advisor.; October 19, 2008 1:39 PM
Anonymous said...: I don't support Mcain ! But i sure as hell am not falling for the messiah bit. Keith you seem to be with the sheeple who want free stuff on this .All i hear is this inexperienced guy with questionable affiliations promising to put lots and lots of band aids on a cancer patient with gangrene.He is only being set up to take the fall anyway.; October 19, 2008 2:01 PM
auntie m said...: That picture sure looks like sheeple to me!; October 19, 2008 2:01 PM
Anonymous said...: Just one question:

How does someone go from rabidly supporting Ron Paul to blindly supporting Hussein Obama?; October 19, 2008 2:27 PM
Anonymous said...: I read that Obama talks to Jay-Z and Scarlett Johansen on a regular basis.
And as we all know, the best people to give advice are rappers and slutty starlets.

God help us all the next 4 years.; October 19, 2008 2:29 PM
blogger said...: The Ron Paul question is a good one. Here's my thinking

1) John McCain is dangerous, wrong on most issues, and completely unacceptable

2) Barack Obama is then the only other viable choice in a two-party system.

Hope that helps.; October 19, 2008 2:35 PM
Anonymous said...: WOW! Obama had 100K losers showup for a rally in St.Lousi!! OMG like that is so awesome dudes.

Wait. Walter Mondale had 100K people at a rally in NYC back in 1984. How did that all turn out?; October 19, 2008 3:23 PM
Anonymous said...: Why are you stuck repeating this two party system bull****? 300+ million people in America and we can only come up with these two questionable characters? It's insane that we continue with this crap! And I agree, that picture looks like a lot of sheeple. Oh worship Obama, he is my savior, he will help me, things will change ... lol; October 19, 2008 3:45 PM
Anonymous said...: The funny thing about you anon's who call him Hussein or a muslim, or a terrorist or warn of impending race riots might as well just say "I'll never vote for a Goddam nigger" or just have a KKK symbol as your signature.

In any case, one thing's for sure, every time I read comments like yours it lifts my support for Obama.; October 19, 2008 3:56 PM
Lost Cause said...: I'd find Obama much more interesting to have a beer with. I would be a little afraid of having a beer with John McCain...he seems like he's go off at any moment. Obama, on the other hand, seems like he could talk about many things, and know what he was talking about. McCain might have an old war story, but I would avoid talking to an older relative just the same way.; October 19, 2008 5:23 PM
Anonymous said...: The big banker bailout will be my #1 concers in the polling booth. I already have a list of every senator and rep who voted for this mess, and I have already arranged to hand out copies to the voters come election day. I hope paybacks a bitch. This will mean voting for some incumbants, not what I originally planned, but a message has to be sent.; October 19, 2008 5:33 PM
Anonymous said...: Keith, your messiah will be a false profit.

Look for NJ Gov Jon Corzine to be B.O.'s Tres Sec.

Guess what job he had before sucking on the Gubmint teet?

CEO of Goldman Sachs right before Paulson!!

http://www.observer.com/2008/politics/obama-surrogate-gets-his-treasury-tryout

The art is not updated. Corzine flipped on Clinton and is 110% behind The One now.

Paulson will hand over a $700B check to his old boss.

"Meet the new boss, same as the old boss."

This election is only about the color of the skin of the Goldman puppet that will sit in the Oval Office.

Enjoy!; October 19, 2008 5:36 PM
Anonymous said...: Obama and McCain both have the big investment banks as their largest contributors.

Voting for Obama to get "change" and "a new approach" is as stupid as voting for Dick Cheney to get the same thing.; October 19, 2008 5:47 PM
blogger said...: Sorry, go back and read the blog

My first post saying Obama was going to win was in February 2007

The sheep followed

Would you like to know what happens two years from now?; October 19, 2008 6:15 PM
Anonymous said...: no, one of your posters said it and you adopted it as your own.; October 19, 2008 7:28 PM
Anonymous said...: Just one question. Why should I care?; October 19, 2008 8:16 PM
Anonymous said...: http://www.takimag.com/site/article/establishment_messiah/

That’s just the tip of the iceberg. If we look at the list of contributors to Obama’s presidential campaign, we can see that he is, for all intents and purposes, a wholly-owned subsidiary of Lehman Bros., not to mention J.P. Morgan, Citibank, real-estate holding companies, and a veritable Who’s Who of the sub-prime mortgage lenders who are now being bailed out at a cost to the taxpayers—so far—of $700 billion.

Obama’s campaign would have us believe that he’s the anti-corporate candidate, a populist “man of the people” whose race for the White House is being funded by tens and twenties sent in by ordinary folks who can’t wait to see him crack down on Wall Street abuses. What they don’t want you to know is that, out of the two and a half million donors to the Obama campaign, around 180,000 top dogs account for almost 60% of his campaign treasury. Who are these people? Let’s take a closer look….; October 19, 2008 8:20 PM
Anonymous said...: BBBHHHAAAAAAAAA

Take one Stanley O’Neal, who received more than $161 million when he was fired as Chairman of Merrill Lynch, one of the biggest of the sub-prime lenders. He donated to Obama’s 2003 Senate campaign, and subsequently gave the maximum to his presidential bid. Indeed, the O’Neal family (husband and wife Nancy) are such big Obama fans that they initially tried to give over the maximum—$6.900—and had $2,300 refunded to them.

Another high-roller in the sub-prime sweepstakes is Steve Boland, a managing director of Countrywide, which made a specialty out of selling loans to people who clearly couldn’t afford them: he maxed out to the Obama campaign last June. Andrew Beer, president of Wachovia’s Evergreen Investment Partners, also gave the maximum. The other big players in the sub-prime sandbox all turn out to be Obama-maniacs, including a good number of Citigroup execs.; October 19, 2008 8:24 PM
Anonymous said...: I agree with batman.

I was a Ron Paul supporter, not planning on voting, but all of the racism and hate coming from the McCain supporters has pushed me strongly toward team Obama. Now I wear buttons and t-shirts, volunteer and have convinced my entire family to vote for Obama.

I don't want to go back to the 1950s. It's time to let a new generation lead.; October 19, 2008 8:46 PM
Anonymous said...: Putin will seriously consider nuking the USA if Obama is elected President. Putin and Menedev know that Obama will think about what a first strike means and think about taking it to the UN, or he will just let it happen to teach whittey a lesson. It will take a black man to take down the USA. Obama is seen as a joke to the other superpowers. USA will be seen as vulnerable. Chaimberlain anyone.; October 19, 2008 10:55 PM
Anonymous said...: Obama is a socialist. If you want socialism vote for him. If you want to keep capitalism, vote for someone else. Pretty simple really.; October 19, 2008 11:42 PM
Anonymous said...: Voting for Obama cuz he's black is no different than voting against him because he's black. Many of you here have convinced yourselves that voting for him is some kind of noble action. It may well be but it is a stupid way to approach a subject as important as who will lead the country for 4 or 8 years. If you want to erase some of your white guilt, donate $1000 to the NAACP or the United Negro College Fund. But for fuck's sake don't vote for a guy who will destroy this country.; October 19, 2008 11:44 PM
Anonymous said...: To most of the people mentioning the race attacks, all of them so far are from the democratic party and Obama's Jedi Mind trick on the sheeple. This guy is a major phony. He is the sirens from Odyssey, sounds amazing but will destroy you. Keep following sheeple. Keith I believe you got your order backward on your October 19, 2008 2:35 PM post. This will mimic your call on Oil price rising is following fundamentals. Look where we are at now.

I have been reading this blog for 2 years, and appreciated the advice on the housing, but the politics is way off.

Really do your own research instead of listening to the msm, you'll find some amazing information about your false messiah. I am actually surprised that you did all this research for the housing information but for politics you followed the msm.

If he is elected one thing is for sure, a much bigger Welfare system, "Spread the Wealth"

AlE34; October 19, 2008 11:48 PM
Anonymous said...: .

Very reminiscent of the slave traders auctions!

.; October 19, 2008 11:58 PM
Anonymous said...: I think we have all seen the one I am talking about - the photo from the St Louis Arch with the 100,000 people in it.

I took a trip there with my family in August 2001 before the true madness began. I love architecture - and second to the Arch itself - the courthouse is just an amazing site to behold. It is the white building with the dome on top at the back of the crowd.

When I am looking at old buildings, I ponder about what they have seen in their lifespans. It is a method to mix history and architecture. And the view of that courthouse from the top of the Arch is truly awe-inspiring.

When I did more research on the courthouse later, I learned that the single defining moment in its history is rather notorious. It was the actual site of the Dred Scott trial. That building has lived through some bad times.

America, in the late 1850s was living through one of its haywire moments, not unlike the last 10 years. The Dred Scott trial and the later Supreme Court decision was one of the leading indicators of just how haywire things were. FWIW, Governor Palin, here is the link for information about the case - since we all know Roe vs Wade is the only Supreme Court decision you feel comfortable talking about - http://en.wikipedia.org/...

So, yesterday, as I was watching that rally on CNN, I was absolutely overcome by emotion. There, standing in front of the courthouse where that horrible decision was made, stood 100,000 Americans being led by a black man who will be America's next president.

On this weekend, we have unfortunately witnessed the following:

The Vice-Presidential Candidate for the Republican Party announcing that she was proud to be visiting the "Pro-American" parts of the country.

A Republican Congresswoman openly demanding an investigation of liberal and progressive members of Congress for Anti-Americanism.

BUT:

There in St Louis, was a throng of 100,000 Blacks, Whites, Latinos, Asians, Christians, Muslims, Jews, Gays, Straights, Young, Old - screaming out to heaven YES WE CAN - YES WE CAN. Being led by a black man - on the very site of one of the most notoriously immoral and racist legal decisions in all of American History.

Could it be that the St Louis Courthouse - which witnessed the horrendous inequity doled out to black Americans - is now finally witnessing a critical step of America's redemption from her original sin, slavery ???

I would very much like to think so. I hope I am not alone.

My fellow Americans - this is a time to rejoice. America has lived through one of its haywire periods in the last 10 years. And the consequences are coming. However, I take courage - our ancestors have lived through this before - and this republic has come out of it much much stronger. We will this time. I thank God every day for my country - no one can tell me I am not an American.

May God bless each and every one of you in this critical election season.; October 20, 2008 12:37 AM
Anonymous said...: .

Slavery???

The original Sin???

What about killing of the most innocent?

Then why is Obama so pro-abortion, is that the Pro American way?

.; October 20, 2008 3:37 AM
Anonymous said...: .

Be Afraid of large numbers of stupid people voting!

.; October 20, 2008 3:37 AM
Anonymous said...: Hey, I am in that picture (Glad I brought the binoculars!). Go Baaaaraack! And proud to be a sheeple for this guy!!! Loved Meet The Press on Sunday morning too! Go General Powell!; October 20, 2008 4:14 AM
Anonymous said...: Ah.. yes I am sure Obamas disciples were going through the crowd looking for a boy with 5 loaves and two fishes....; October 20, 2008 4:23 AM
robert said...: keith said...
The Ron Paul question is a good one. Here's my thinking

1) John McCain is dangerous, wrong on most issues, and completely unacceptable

2) Barack Obama is then the only other viable choice in a two-party system.

Hope that helps.

Check your local ballot Keith. I imagine you’ll see more than two parties, and if that’s not enough, there’s probably space for a write in.

I’m tired of those saying “you’re wasting your vote”. Voting for the same two parties over, and over, and over, and over, and over, and over, and over, and over, and over and over again, expecting things to be different is……….? I’m tired of those saying they’re “voting for the lesser of two evils”. That to me, is definitely wasting a vote.

My vote this year will be a write in. And I will never vote for anyone with a (D) or an (R) next to their name again unless it’s the only way to vote an incumbent out of a local election.; October 20, 2008 7:51 AM
Anonymous said...: "There in St Louis, was a throng of 100,000 Blacks, Whites, Latinos, Asians, Christians, Muslims, Jews, Gays, Straights, Young, Old - screaming out to heaven YES WE CAN - YES WE CAN. "

Have you ever spent time in St Louis? It is nasty and crime ridden. St Louis University is the most dangerous campus in the USA, because of its location in the heart of St Louis. No one in their right mind goes downtown after dark. When you think about the history of America, think about what has happened in all of our major urban areas since the 1960's. Like St Louis, they are dangerous, dirty, ignorant and corrupt. I suppose this will be the model for the entire country, once Obama is in office.

We will become like South Africa, after apartheid. Once powerful, rich, safe and beautiful, S.A. is now filthy, corrupt and dangerous. Whites live behind barbed wire fences for their own safety.

An Obama election will either shock us into a second American revolution, or we will just roll over and let the barbarians have the place.; October 20, 2008 1:20 PM
Anonymous said...: "We will become like South Africa, after apartheid. Once powerful, rich, safe and beautiful, S.A. is now filthy, corrupt and dangerous. Whites live behind barbed wire fences for their own safety"

What's hilarous about S.A. is that South Indians, practically indistinguishable from Africans aside from the straight hair, are also calling the new govt (and its system) racist despite being dark skinned. Many of them now want Apartheid back since they're not doing any better under the new system and have added security problems. In contrast, I'd never heard of South Indians complain about the US being a racist system, just a regular ethnic white nation with a certain percentage of racists but still better than its cousin, Britain. Keith should sometimes talk to his Indian neighbors in Britain and ask them how equally treated they are over there.; October 20, 2008 2:02 PM
Anonymous said...: Obama win = death of America.
Ask yourselves one question: do you hate Bush this much that you are willing to kill off the country just to make yourselves feel better?; October 20, 2008 5:00 PM
Anonymous said...: There in St Louis, was a throng of 100,000 Blacks, Whites, Latinos, Asians, Christians, Muslims, Jews, Gays, Straights, Young, Old - screaming out to heaven YES WE CAN - YES WE CAN.
----------------

"WE CAN" what? Just what is he gonna do? make you FEEEEL better? You are very selfish. I FEEEEEL just fine now. Your white guilt is your own problem. Keep it away from me.; October 20, 2008 5:03 PM
Lost Cause said...: But McCain stirred up a crowd of 2500 on Monday in St Charles, a suburb of St Louis. I understand they were in a frenzy, just like a typical Sunday at Palin's church in Wasilla.; October 20, 2008 8:40 PM
Anonymous said...: The Ron Paul question is a good one. Here's my thinking

1) John McCain is dangerous, wrong on most issues, and completely unacceptable

2) Barack Obama is then the only other viable choice in a two-party system.

Hope that helps.

--------

It's nice to finally see a bit of a tacit acknowledgement that there's a political disconnect (chasm actually) between the support of Ron Paul and Barack Obama. But, this answer is a bit of a cop out.

Few, really, would have contended that Ron Paul had a viable chance to win the GOP nomination. Better, at that point, that you had pushed for a plan to create a viable third party choice - perhaps a Draft Bloomberg movement or a push, when Ron Paul's campaign had some currency, for a public break from the GOP with a declaration that he's running as a Libertarian.; October 20, 2008 8:48 PM
Anonymous said...: lost cause said:

"I would be a little afraid of having a beer with John McCain...he seems like he's go off at any moment."

Hey, what about if Sarah Palin is serving the beer in a bikini?; October 20, 2008 8:59 PM
Anonymous said...: "McCain-Palin, you are reaping the whirlwind of the WORST MOST DESTRUCTIVE ADMINISTRATION EVER..."

No, that will be the next administration. Run by our first Affirmative Action president.; October 21, 2008 12:02 AM
Anonymous said...: Hey any of you anonymous dufuses that have anything negative to say about St. Louis is someone that has been here in a very long time. I am an import to St. Louis and I love it here. I go downtown at night all the time with friends to hear some of the best jazz outside of New Orleans, actually at times we may have them beat. I feel safe taking my kids down there too. Cardinal games are fantastic and Barack Obama is going to be the best thing that ever happened to seal the deal between blacks and whites getting over racism in this city. That rally for Obama was great, we really didn't see color, we were all Americans! Hope you racist eat your hearts out.; October 21, 2008 1:56 AM
Anonymous said...: I'd find Obama much more interesting to have a beer with. I would be a little afraid of having a beer with John McCain...he seems like he's go off at any moment.

No offense, but who gives a flyin' frick who YOU'D like to have a beer with? Are you kidding me? That's the kind of stoopid thinking that got us INTO this mess, in the first place, when people thought Bush seemed like a "down-to-Earth" guy! Besides, you ain't having a beer with the POTUS.

No, you want a leader who can relate not to "Joe the Plumber", but to OTHER leaders, who can communicate and negotiate lucidly, succinctly, without having to resort to down-home "soccer Mom" crap. (Palin IS a female version of Bush, when you think of it.)

Obama inspires CONFIDENCE, provides a ray of hope when none is really warranted, and when you think of it, that's EXACTLY what's LACKING in the current administration and even in the financial markets.

As stated, we need a cleansing (an enema, if you will), but more importantly, we need a leader who can LEAD us, not LIE to us (telling us "the economy is sound" when a blind man could see it is NOT).

So while Bush is working on ANOTHER bail-out plan (that ALSO won't work), he needs to be told just to quit trying: he got us IN to this mess, and we don't need anymore of his "help" to alleviate the mess he intentionally made....; October 21, 2008 10:53 PM