tag:blogger.com,1999:blog-18675105.post9041987675573112794..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: And then there was panic, and a run on the banks, and right on schedule Bernanke's printing press and helicopter swooped into actionbloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger87125tag:blogger.com,1999:blog-18675105.post-78678723859306859482007-08-12T01:25:00.000+01:002007-08-12T01:25:00.000+01:00Dylan had it right, not heliBen:"the pump won't wo...Dylan had it right, not heliBen:<BR/>"the pump won't work cause a vandal took the handle"Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-45815137307777567822007-08-11T22:21:00.000+01:002007-08-11T22:21:00.000+01:00At the time they invested, all looked great, house...At the time they invested, all looked great, house values were appreciating, so the "paper worth" of these stocks kept going up and up.<BR/><BR/>Like any ride, you have to know when to get off ... some did ... many have not.<BR/><BR/>Those investors that are left will take heavier and heavier losses now as time progresses.<BR/><BR/><BR/><BR/>Anonymous said... <BR/>Why should investors invest in loans that won't be paid back ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41139170290276953782007-08-11T21:47:00.000+01:002007-08-11T21:47:00.000+01:00>>>The prior administration gave ample considerati...>>>The prior administration gave ample consideration to the deficit, balanced budgets and preserving a strong dollar.<<<<BR/><BR/>Of course there's that little financial hiccup in the NASDAQ that occurred in the last administration, but we won't talk about that. Why should we, it's STILL down from its highs under the last administration.<BR/><BR/>We could blame the avg. American for being irresponsible with debt and for feeding bubbles in the NASDAQ and Housing markets, but it's just so much more fun to blame a politician than to take personal repsonsibiity, right?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-18187899906693872272007-08-11T18:51:00.000+01:002007-08-11T18:51:00.000+01:00I'm not sure. It could be the Clinton's stuff head...I'm not sure. It could be the Clinton's stuff headed to Costa Rica. <BR/><BR/>August 10, 2007 10:28 PM <BR/>----------<BR/><BR/>If Hillary was smart she would back out and let Balack have it!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-81924119391815240822007-08-11T18:42:00.000+01:002007-08-11T18:42:00.000+01:00Mark said... Some shmuck on Bloomberg TV named Joh...Mark said... <BR/>Some shmuck on Bloomberg TV named John Sauro, North Atlantic Mortgage President, just said like 15 minutes ago that he predicts the Dow will go over 15,000 by Sept/Oct of this year and that the 75 million baby boomers who are about to retire will flood the market with liquidity and they will be purchasing plenty of homes and condos and will turn the real estate market around. <BR/><BR/>WHAT! <BR/><BR/>August 10, 2007 8:12 PM <BR/>------------<BR/><BR/><BR/>ffffffffffft<BR/><BR/>ffffffffffft<BR/><BR/>Heeeey brrroooo wanna hit this?<BR/><BR/><BR/><BR/>I predict weed gets legalized in '08!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-52188457122407347702007-08-11T18:39:00.000+01:002007-08-11T18:39:00.000+01:00face it rening losers, prices of homes are not com...face it rening losers, prices of homes are not coming down. bernake will give every man woman and child a sack full of thousand dollar bills if need be...<BR/><BR/><BR/>China will put a stop to this.stuckinthecityhttps://www.blogger.com/profile/04103831140035179103noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-12471860339753554762007-08-11T17:48:00.000+01:002007-08-11T17:48:00.000+01:00Official reports state $323 billion have been pump...Official reports state $323 billion have been pumped into the collapsing financial system over the last 48 hrs world wide.<BR/><BR/>What's that $6 billion every hour?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-51101175417905515992007-08-11T16:05:00.000+01:002007-08-11T16:05:00.000+01:00A measly 7% drop in the DJIA gets Cramer acting li...A measly 7% drop in the DJIA gets Cramer acting like a crazed idiot calling for the Fed to cut rates and bail out every irresponsible investor out there. The central banks should just let natural forces take their effect and allow the survival of the fittest. They aren't doing anyone any favors by injecting money into the system at this point. After a 25% crash, maybe, but certainly not now!stocksystmhttps://www.blogger.com/profile/15585696725702649951noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-55158700679055615442007-08-11T15:10:00.000+01:002007-08-11T15:10:00.000+01:00Here's a great editorial:http://www.lewrockwell.co...Here's a great editorial:<BR/>http://www.lewrockwell.com/north/north559.html<BR/><BR/>Title: Cramer's Tantrum<BR/>You'll love it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6423647158232374702007-08-11T12:39:00.000+01:002007-08-11T12:39:00.000+01:00--------------------------------You're correct. In...--------------------------------<BR/>You're correct. In nominal terms the prices will go up. But if the price of a house doubles because the value of the dollar is cut in half, then the real price in previous dollars hasn't changed. That's why the DOW is still below it's 2000 high in real 2000 dollars. <BR/><BR/>You're also correct that fixed income assets will get crushed in a hyperinflationary environment. But so will everything else except maybe commodities, assuming demand destruction doesn't crush the commidities markets. <BR/><BR/>So Ben could give every man, woman and child a sack filled with millions of dollars. And we could use those dollars for toilet paper. <BR/><BR/>August 11, 2007 2:19 AM <BR/><BR/>==================================<BR/><BR/>Absolutely best thing to have in an era of high inflation is long term debt at a low fixed interest rate....like oh I dunno, hmmm a MORTGAGE!! Ding Ding Ding.<BR/><BR/>My housing cost is $2100 today. It will be $2100 next year and $2100 23 years from now upon which I will have $0 as the loan is paid off (well OK property tax, granted).<BR/><BR/>When hyperinflation arrives, and gas costs $15 and bread costs $10, rent what do you think will happen to your rents? Hint: they will not fall.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-19772003390433237682007-08-11T10:43:00.000+01:002007-08-11T10:43:00.000+01:00That's w's stuff being airlifted to PARAGUAY!!!LMA...That's w's stuff being airlifted to PARAGUAY!!!<BR/><BR/>LMAO!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-54810285080607733182007-08-11T08:02:00.000+01:002007-08-11T08:02:00.000+01:00Foreclosures up 400% in Califronia. How can the Fe...Foreclosures up 400% in Califronia. How can the Fed help FB's triple their income?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-22018525941204565672007-08-11T07:52:00.000+01:002007-08-11T07:52:00.000+01:00Bitter Idiot said:Perhaps one of the capitalists o...Bitter Idiot said:<BR/><BR/><I><BR/>Perhaps one of the capitalists on the board can tell me why a culture so enamored with the "free market" is so prone to messing with it? this cash infusion is hardly in the mold of a free, unfettered market.<BR/><BR/>My question is especially directed at those libertarians salivating over the possibility of a Ron Paul presidency since he so favors the laisse-faire (sp?) capitalist model. <BR/></I><BR/><BR/><BR/>Since when did Ron Paul or any Libertarians call for a bailout? The only people in congress calling for a bailout are Hillary Clinton, Barney Frank, Chris Dodd and Chuck Schumer. <BR/><BR/>In a true free market, the government would not be on the hook for this mess, the private Fed would not be around, banks could not afford to be reckless, and there would not be and GSE's around to buy up hundreds of billions in bad loans from the private markets.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-18089742831884663932007-08-11T05:43:00.000+01:002007-08-11T05:43:00.000+01:00Actually, if the government chooses to bail out ha...Actually, if the government chooses to bail out hapless borrowers and lenders, I'm HELOCing myself to the max, then burying the money. Next I'm going to max out my credit cards (about 100k at least) and use that as a down payment on a second home, then taking a second mortgage on that and burying that money. Then I'll miss a few payments on my mortgages and tell Hilary to bail me out, that I was given too much money by the MAN and my civil rights got violated. If everything goes the way the bleeding hearts in Washington want, I'll get to keep my houses, screw my lender and dig up the cash and use it for hookers and crack! Next, I'll go to work on Wall Street where people like that work!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-45514588356588889452007-08-11T05:34:00.000+01:002007-08-11T05:34:00.000+01:00It's my understanding that this was a short term L...It's my understanding that this was a short term LOAN with mortgages being used as collateral.<BR/><BR/>This would be fine if the problem were just liquidity for the moment, like a paycheck loan to get you to payday, however, we don't know the actual SOLVENCY of the organizations who took this money. They might be broke and unable to pay back these loans. Now the Federal Reserve will be stuck with 38 billion of worthless paper?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-58572686721874805902007-08-11T05:12:00.000+01:002007-08-11T05:12:00.000+01:00Keith:This is a very, very serious report, from th...Keith:<BR/><BR/>This is a very, very serious report, from the guys who define what a recession is.<BR/><BR/>I promise, you will love every word.<BR/><BR/>http://www.cepr.net/documents/publications/meltdown_2007_08.pdfAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-5040712339661830242007-08-11T05:09:00.000+01:002007-08-11T05:09:00.000+01:00Can't you understand what's happening here? Don't ...Can't you understand what's happening here? Don't you see what's happening? Bernanke isn't selling. Bernanke's buying! And why? Because we're panicky and he's not. That's why. He's picking up some bargains. <BR/><BR/>This bubble, collapse, and run on the banks is all carefully orchestrated plot so that the biggest banks and the Fed will OWN everything! Then you will be an indentured servant (ie. slave) and work for them until the day you die!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-52993517607772670302007-08-11T04:48:00.000+01:002007-08-11T04:48:00.000+01:00Hurray! Today everyone got a liquidity injection. ...Hurray! Today everyone got a liquidity injection. The problem is that the bankers got theirs in their wallets and the rest of use got them in the... well, you figure it out.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-3636797506753017452007-08-11T03:45:00.000+01:002007-08-11T03:45:00.000+01:00GOT GOLDGOT GOLDAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-15929579592239334022007-08-11T03:17:00.000+01:002007-08-11T03:17:00.000+01:00HeliBen can not increase money supply, that great ...HeliBen can not increase money supply, that great feat is accomplished by the banks as they loan out "money" that they create out of thin air, by fractional reserve banking. <BR/><BR/>If no one wants to lend because not enough people are credit worthy, or borrow, then the system implodes. This will ALWAYS happen with a fractional reserve system, since the rule of compound interest demands constantly increasing money supply to pay the interest on the existing debt. The principal is created out of thin air, but not the interest, growth is the only way it gets serviced.<BR/><BR/>We are headed for systemic implosion and no power can stop it. The Fed is about to be revealed as powerless. The only reason it has a perception of power is because people do not understand the mechanics of the banking system.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-62050980081778380662007-08-11T03:15:00.001+01:002007-08-11T03:15:00.001+01:00Anonymous said... BWA HA HA HA HABWA HA HA HA HAfa...Anonymous said... <BR/>BWA HA HA HA HA<BR/><BR/>BWA HA HA HA HA<BR/><BR/>face it rening losers, prices of homes are not coming down. bernake will give every man woman and child a sack full of thousand dollar bills if need be...<BR/><BR/>good luck with those 5% CDs and renting in an era of hyperinflation <BR/><BR/>August 10, 2007 7:27 PM <BR/><BR/><BR/> - The Fed has been throwing away cash like this all along, and it hasn't changed anything. This is like putting a band aid on gangrene and hoping it gets better. He's only delaying the inevitable. Now go away and eat your "steak sandwich" and listen to your iPhone.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-57137137051058146762007-08-11T03:15:00.000+01:002007-08-11T03:15:00.000+01:00IS THIS THE SAME AS A BAILOUT?IS THIS THE SAME AS A BAILOUT?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-47685369218559472562007-08-11T02:19:00.000+01:002007-08-11T02:19:00.000+01:00BWA HA HA HA HABWA HA HA HA HAface it rening loser...BWA HA HA HA HA<BR/><BR/>BWA HA HA HA HA<BR/><BR/>face it rening losers, prices of homes are not coming down. bernake will give every man woman and child a sack full of thousand dollar bills if need be...<BR/><BR/>good luck with those 5% CDs and renting in an era of hyperinflation <BR/><BR/>--------------------------------<BR/>You're correct. In nominal terms the prices will go up. But if the price of a house doubles because the value of the dollar is cut in half, then the real price in previous dollars hasn't changed. That's why the DOW is still below it's 2000 high in real 2000 dollars. <BR/><BR/>You're also correct that fixed income assets will get crushed in a hyperinflationary environment. But so will everything else except maybe commodities, assuming demand destruction doesn't crush the commidities markets. <BR/><BR/>So Ben could give every man, woman and child a sack filled with millions of dollars. And we could use those dollars for toilet paper.RJhttps://www.blogger.com/profile/07307437595686083352noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41374869654600766122007-08-11T01:51:00.000+01:002007-08-11T01:51:00.000+01:00The situation will continue until financial instit...The situation will continue until financial institutions revalue their mortgage-backed securities to what they're actually worth.<BR/><BR/>"They're faced with redemptions and margin calls, and they have to value their securities to their market prices because they have to sell them," said Zandi. That will determine how hard a hit the investment community will take.<BR/><BR/>Peter Schiff, president of Euro Pacific Capital Inc. and author of "Crash Proof: How to Profit from the Coming Economic Collapse," has said the problem goes way beyond subprime.<BR/><BR/>"It's a mortgage problem," he said. "Subprime is like a little leak where the underlying problem is the integrity of the dam itself. Most of the mortgages taken out during the past few years will fail."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-75411653186245816892007-08-11T01:50:00.000+01:002007-08-11T01:50:00.000+01:00Buy Gold before your priced out of the market! ...Buy Gold before your priced out of the market!<BR/><BR/><BR/> Sounds reminiscent of the housing boom!Anonymousnoreply@blogger.com