tag:blogger.com,1999:blog-18675105.post1926208266324799154..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: The government and the Fed are throwing in everything they've got in an attempt to halt the financial crash and bank failures. So will it work?bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger85125tag:blogger.com,1999:blog-18675105.post-39162763995817375342008-02-04T13:57:00.000+00:002008-02-04T13:57:00.000+00:00I can not believe that I just heard on CNBC Squakb...I can not believe that I just heard on CNBC Squakbox that the ratings agencies will NOT downgrade AMBAC for a few more weeks!!!<BR/><BR/>Apparently they are buying time for the billion investor to make up his mind and buy this JUNK!<BR/><BR/>Ambac should be downgraded today! It is no longer AAA rated. The ratings agencies are mis-leading investors and that is deplorable! I can't trust anybody anymore...Princess Mononokehttps://www.blogger.com/profile/11062180421571379213noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-72910987625743328432008-02-02T04:36:00.000+00:002008-02-02T04:36:00.000+00:00Despite all the economic fuckedupnes out there, I ...Despite all the economic fuckedupnes out there, I don't see it in my day to day.<BR/><BR/>Your world is a trailing indicatorAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-83650615254158445872008-02-02T03:39:00.000+00:002008-02-02T03:39:00.000+00:00Joe6Pack is like a gazelle in the African Serenget...Joe6Pack is like a gazelle in the African Serengeti plain,<BR/><BR/>That's it. Andrew Hac's gotta be European or Australian. There's noooo way an American would know "Serengeti Plain".<BR/><BR/>Busted, Hac.<BR/><BR/>I also believe he has buck teeth, a 6 pack belly and JaneZinfandel for his wife, and thats why I love him.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-35988023712127974642008-02-01T22:04:00.000+00:002008-02-01T22:04:00.000+00:00Banks can keep making bad loans that result in def...Banks can keep making bad loans that result in defaults. The good customers are dwindling in numbers like the WWII vets.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-18530330421361477512008-02-01T21:54:00.000+00:002008-02-01T21:54:00.000+00:00Yeah, Sleazy Willie and his Wall Street buddies cl...Yeah, Sleazy Willie and his Wall Street buddies cleaned up with the dotcom ponzi scheme, which robbed tens of millions of people's retirement funds. I'm sure Hitlary will clean up real good too. Keep drinking that blue kool-aid, you schmucksAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-69798333959580921792008-02-01T20:49:00.001+00:002008-02-01T20:49:00.001+00:00How the hell do these so-called presidential candi...<I>How the hell do these so-called presidential candidates plan to make up for the shortfall??</I><BR/><BR/><B>It took a Clinton to clean up after Bush 1, so it'll take another Clinton to clean up after Bush 2.</B><BR/><BR/>Just best line like evahhhhh!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8239645461833590292008-02-01T20:49:00.000+00:002008-02-01T20:49:00.000+00:00No. The credit markets can collapse faster than th...<B>No. The credit markets can collapse faster than the Fed can print money.</B><BR/><BR/>Wrong: the Fed doesn't HAVE to actually PRINT bills, just as they don't need to maintain gold bullion in reserve to back up the paper money.<BR/><BR/>Instead, "money" is created by the Fed by metaphorically waving a magic wand, when they loan money to banks electronically. <BR/><BR/>Of course, counterfeiters make fake money, too, but if some private citizen does this, the government throws them in prison.<BR/><BR/>So nowadays, money exists as electrons existing in a computer, and it's possible for the government to create money at will. There's no physical limit to how much money they can create.<BR/><BR/>But they do so at the risk of devaluing the currency already in supply, i.e. contributing to inflation and dollar depreciation vs other currencies.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41966050864824093822008-02-01T20:44:00.000+00:002008-02-01T20:44:00.000+00:00Joe6Pack is like a gazelle in the African Serenget...<I>Joe6Pack is like a gazelle in the African Serengeti plain,</I><BR/><BR/>That's it. Andrew Hac's gotta be European or Australian. There's noooo way an American would know "Serengeti Plain".<BR/><BR/>Busted, Hac.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-27272438416285424622008-02-01T20:33:00.000+00:002008-02-01T20:33:00.000+00:00Can't force the sheeple to borrow? Believe me sir,...<I>Can't force the sheeple to borrow? Believe me sir, the sheeple are more than willing to borrow. But thank God the former is in place.<BR/></I><BR/><BR/>The sheep will borrow, but not to buy houses that are falling in value. It only makes sense on the way upAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-18616719610588765012008-02-01T18:16:00.000+00:002008-02-01T18:16:00.000+00:00The government and the Fed are throwing in everyth...The government and the Fed are throwing in everything they've got in an attempt to halt the financial crash and bank failures. So will it work?<BR/>====================================<BR/>No. The credit markets can collapse faster than the Fed can print money.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-66565111169164184762008-02-01T17:42:00.000+00:002008-02-01T17:42:00.000+00:00THE ULTIMATE IRONY, FOLKS!!We have Wall Street (t...THE ULTIMATE IRONY, FOLKS!!<BR/><BR/>We have Wall Street (the staunchest just say NO to big Government proponents)- now screaming for Government intervention when they are about to lose their collective A$$'s by making greedy stupid decisions!!???<BR/><BR/>As so many have already said, the Fed is doing SO much more harm than good by getting involved now--The markets must be allowed to correct themselves, and YES, it will be painful, but we would rather take the pain now, than for decades--and have EVERYONE pay dearly for it. <BR/><BR/>The "Privitize the Gains, Socialize the Losses" strategy is SOOO transparent BEN BERNANKE!! Stop the madness!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-46833732978378596932008-02-01T17:06:00.000+00:002008-02-01T17:06:00.000+00:00The December 2, 1989 edition of The Economist desc...The December 2, 1989 edition of The Economist described San Diego, California as the "methamphetamine capital of North America".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6808146498880053822008-02-01T15:51:00.000+00:002008-02-01T15:51:00.000+00:00OK, Snapper Turtle and all other tortoise-like cre...OK, Snapper Turtle and all other tortoise-like creepers out there,<BR/><BR/>Listen carefully and listen hard:<BR/><BR/>A house is a place to sleep in, eat your meal, do your homeworks, make kids, smoke a doobie, etc... Not every turtle is entitled to own a house. Owning a house is a privilege, not a right, not an endowment from God or Uncle Bushie.<BR/><BR/>Most Americano believe that it is their God-given right to own a house. That is incorrect. It is also stupid to heed that belief. If you are poor, ignorant, illiterate, dumb, uneducated, buckteeth, harelip, fat, obese, or just plain WACKO then you do not have the right, the mean or the privilege to own a house. No BUT, IF, HOW, WHEN ,WHY, WHAT, etc...<BR/><BR/>The game of survival is simple. You are strong then you will survive and survive splendidly. Joe6Pack is like a gazelle in the African Serengeti plain, his destiny is to be hunted down and chased after, devoured savagely by the lions, the leopards, the hyenas, etc... Joe6Pack simply does not possess any right at all to own a house in the land of the Americano AKA the land of the Turkey.<BR/><BR/>Got it, Turtle ???AndrewHachttps://www.blogger.com/profile/05114474456963405679noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-52581713701508585692008-02-01T15:29:00.000+00:002008-02-01T15:29:00.000+00:00Interesting article about how lots of schools got ...Interesting article about how lots of schools got fleeced by the investment banks:<BR/><BR/>http://tinyurl.com/2wputlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-44798735805581886182008-02-01T14:53:00.000+00:002008-02-01T14:53:00.000+00:00Keep buying the 5% - no 4%, no wait 3% CDs losers....Keep buying the 5% - no 4%, no wait 3% CDs losers. <BR/><BR/>Oh did you hear, MSFT is buying YHOO and the naz is on fire.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-24753665069920549522008-02-01T14:15:00.000+00:002008-02-01T14:15:00.000+00:00In 1930, the Republican-controlled House of Repres...In 1930, the Republican-controlled House of Representatives, in an effort to alleviate the effects of the... Anyone? Anyone?... the Great Depression, passed the... Anyone? Anyone? The tariff bill? The Hawley-Smoot Tariff Act? Which, anyone? Raised or lowered?... raised tariffs, in an effort to collect more revenue for the federal government. Did it work? Anyone? Anyone know the effects? It did not work, and the United States sank deeper into the Great Depression.<BR/><BR/>Today we have a similar debate over this. Anyone know what this is? Class? Anyone? Anyone? Anyone seen this before? The Laffer Curve. Anyone know what this says? It says that at this point on the revenue curve, you will get exactly the same amount of revenue as at this point. This is very controversial. Does anyone know what Vice President Bush called this in 1980? Anyone? Something-d-o-o economics. "Voodoo" economics.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-26244964739200932602008-02-01T07:12:00.000+00:002008-02-01T07:12:00.000+00:00Guys, look at investing in India. The CD rates th...Guys, look at investing in India. The CD rates there are 8-9% and the Indian Rupee has been appreciating against the dollar. In the last year the Rupee has gained 16% against the dollar!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-5675625220798116552008-02-01T05:08:00.000+00:002008-02-01T05:08:00.000+00:00That's too nice of a sink, keith. What you shoul...That's too nice of a sink, keith. What you should've used there is a photo of a 1930's sink dumped in the back of the yard. Accented by tall grass growing at the sides because the mower wouldn't cut there.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-45424867477722112992008-02-01T03:53:00.001+00:002008-02-01T03:53:00.001+00:00The FEDs actions won't do a damn thing for the eco...The FEDs actions won't do a damn thing for the economy. Neither will the "stimulus" package. Long bond rates are climbing again which bodes ill for the housing depression although the USDX is finding support in the low 75 range. If it falls through that it may push long rates even higher.<BR/><BR/>According to Mike Shedlock the primary concern right now is preventing a complete meltdown of the banking system. According to the FED, non-borrowed bank reserves went from 43.7 billion the week ending Dec. 5 to a preliminary -8.7 billion this week (http://www.federalreserve.gov/releases/h3/Current/). That means that, as it stands, the banking system is borrowing ALL of its reserves through FED auctions. Without the borrowed reserves the banks would have to sell off assets to raise capital which would contribute to a the market crash. Repeat. The banks have no reserves to speak of. They are currently on life support.<BR/><BR/>The FED is trapped and we're screwed. I guess it's time for a World Bank bail out of the U.S. Austerity program anyone?<BR/><BR/>Our only chance is massive cuts in government spending. Otherwise,<BR/>we are the Titanic.RJhttps://www.blogger.com/profile/07307437595686083352noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41972783824303505832008-02-01T03:53:00.000+00:002008-02-01T03:53:00.000+00:00All these huge Wall Street losses, bailouts, ligui...All these huge Wall Street losses, bailouts, liguidity injections, stimulus packages, permanent tax cuts, etc. are going to have a major impact on federal income tax revenue in the coming years.<BR/><BR/>How the hell do these so-called presidential candidates plan to make up for the shortfall??<BR/><BR/>They aren't gonna answer THAT question until AFTER the election...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-85742144426202185512008-02-01T03:02:00.000+00:002008-02-01T03:02:00.000+00:00Here’s what you need to know about how mortgage br...Here’s what you need to know about how mortgage brokers really work: “When I have a client I really don’t like — he’s a pain in the ass — that’s when I charge as much as I can get out of them,” says Jack, a mortgage broker based in Southern California.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-24828877988422564942008-02-01T02:06:00.000+00:002008-02-01T02:06:00.000+00:00Cut rates to zero now to stop a depression.We are ...Cut rates to zero now to stop a depression.We are in deep shit people.Have you ever seen grown men standing lines to deliver pizzas?It is happening in the good ole USA. Go buy a house you peons!!!!!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-72123708760878692662008-02-01T01:37:00.000+00:002008-02-01T01:37:00.000+00:00Next bubble? Gold maybe? Hasn't started yet, but...Next bubble? Gold maybe? Hasn't started yet, but I could see it getting there. Invest? Borrow USD, buy gold? Borrow USD, short market? Short consumer discretionaries, builders, some financials and commercial real estate on the bounce here. Bubble Ben just gave you a chance to get the hell out break even or at a profit! Take it and reverse!Dragonsbanehttps://www.blogger.com/profile/03847480699556450773noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-34608184858591778922008-02-01T00:56:00.000+00:002008-02-01T00:56:00.000+00:00Yes, it is the time to pay the Piper for that Wild...Yes, it is the time to pay the Piper for that Wild-Wild-West Housing Bubble Party last night. Add in the maxed out CC debt, the home equity extract, the spend-like-there-is-no-tomorrow mentality of the Americano, the oversize SUV, the run-down-the-cow F350 pickup truck and the Americano is now having a handful of shits and hangover to deal with. But worry not, my dear fat-ass buckteeth Americano, Dubya Shrub will lead you through the dark, ominous, pee-in-the-pant time. He has to, he has no choice, since the dim nitwit Americano voted for him 2 terms in a row. Yes, it is fittingly beautiful: "The head turkey leads the horde of fat, blind turkey down the gutter...".<BR/><BR/>Now, a little verse from the "Man With The White Beard" to cheer things up for the horde of Snapper Turtle and Porpoise.<BR/><BR/>Psalm 23:4<BR/><BR/>"Yea, though I walk through the valley of the shadow of the Housing Bubble, <BR/>I will fear no foreclosure;<BR/>for Dubya Shrub & Penis Shooter art with me;<BR/>thy bail-out and thy rebate-check, they comfort me."AndrewHachttps://www.blogger.com/profile/05114474456963405679noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-25358926500199155392008-02-01T00:23:00.000+00:002008-02-01T00:23:00.000+00:00you kooks forget that consumers have made up 70% o...you kooks forget that consumers have made up 70% of the economy for a long time. nothing new. people earn, they spend, they enjoy life.<BR/><BR/>most people that is. hp'ers earn, save and spend hours on end bitching on blogs.Anonymousnoreply@blogger.com