October 11, 2008

We love our bubbles.

Future generations will laugh at us.

What were they thinking, those idiots!

As they get ready for their next fraud-and-speculation-fueled bubble and get rich scheme.

Silly humans. We love our bubbles. And we hate our crashes.


JR said...

I hate to say it, but I think we're near the bottom. We may already be there. I'm reluctant and disappointed to say as much because so much more filth needs to be flushed down the toilet.

I have been bearish on this market for as long as you, Keith. I told everyone to dump their overpriced boxes in late '04 and again in '05, but they wouldn't listen.

Anyway, I actually think we're at bottom, not because the fundamentals have been corrected, but because the American J6P is so utterly stupid that I believe he will start rushing in once the banks are nationalized. He will actually buy into the fantasy-fueled Paulson/Bush plan peddling the eternal bull market. This economy is smoke and mirrors and the last few years proved as much.

This market has much less to do with strong fundamentals and much more to do with greed and stupidity - form over substance. If they tell the American consumer that all is well, then it will be so, as far as they're concerned anyway.

Market will be back at 10,500 in less than a month. Of course we will pay dearly for what we are doing later. We are completely turning over America's M1 by infusing all this cash. Look for a $2 trillion budget deficit - the printing presses will be whirring for most of 2009. Just how the hell do we plan on keeping the dollar from imploding?

This is lunacy, but you know what? I opened an Ameritrade account tonight and I'm getting some bargains - Vale do Rio Doce, Petrobras and probably Alcoa. Maybe some Australian dollars and Brazilian Reais. Fuck it - I give up. We will never see the requisite amount of suffering that promises to straighten this country out and the American asshole consumer will keep marching on. Nothing will change - in a month we'll be back to iPhone dreams and Coach bags . . . if we ever stopped that is.

Professor Ichiro Vader said...

Own it.

Suzanne Part 2

Anonymous said...

"If we didn't buy now we would have missed out on this opportunity." says hubby.

"Yea" says wifey.

Cheerful guitar music in background.

Sunny afternoon light shining through trees as camera zooms softly into the realtor pin on the lapel.

All is well, the world is grounded. And American homeowners are sleeping comfortably.

Those were the days!

Back when Casey Serin was more of a curiosity than a canary.

Anonymous said...

Too Bad these fanny packers left their balls at the door.

They should have gone upstairs and balled the wife until she screamed in joy and happiness. Maybe this would have restored order and perspective to their lives.

Now, thanks to listening to Suzanne and their super-smart desperate wives, they are broke, in debt and looking for a high place to jump.

They deserve it. www.nomarriage.com


Anonymous said...

There's a long way until housing bottoms. Houses all over the NY/NJ metro area are way overpriced compared to the pre-2000 market.

If the sheeple start buying houses thinking there's a bottom, they will resort to the same scam mortgages with low downpayment and adjustable rates. And this could delay the bottom for another 10-15 years.

Eventually prices will bottom and stabilize; they won't grow explosively.

Toby said...

That townhouse auction clip is almost a year old. Those same townhouses that auctioned in the $150-185 range (down from $300k) are now in the $120k range a year later.

The national housing slump may be tailing off, but the bubble states have a long way to go. The futures contracts for Miami suggest another 15% for that area over the next year.

The economy is still the wild card in ALL of this. No job. No loan.

Mark said...

Two Comments:
1) You need a tech guy to take a look at video posting on your site. I can easily open and view videos on other sites, but on Housing Panic (I've read it for a looooong time, thank you!) they don't open/freeze/no sound,etc. Something isn't right. Maybe Dick Cheyney is sabotaging you?
2) Panic stage? I don't think so. Desperation? Getting there. In 'panic stage' a lot of bad s**t happens: people jump out of windows, in front of trains, mobs howl in the streets. We've seen nothing like this; most people go about their lives as usual, but now gripped by fear and anger. We haven't, unfortunately, seen anything like panic yet.

VP said...

Re: mark's video problem (off topic)

That's a nasty, persistent bug in Flash 9.0.124. Happens in Opera, Firefox 2 and 3, and Google's chrome.

If there's more than 16 or so videos that have to be loaded on the same page, each and everyone plays for 3 seconds with no sound and freezes.

What you can do if you're using Firefox is to install the flashblock addon. It will block all flash videos until you load then explicitly by clicking on the flash button. That way flash doesn't try to load 20 videos all at the same time when you open housingpanic or americapanic.

Anonymous said...

You GOT to be kidding me, Dude!

It's NOT FAIR!!!

(Like I tell my kids... of course it's not a fair... a fair has games and rides and parades where people throw candy at you..)