December 20, 2008

Can you believe we've come to this?

I mean, really, can you believe it all really happened?

Just as many of you predicted for years it would...

Kinda spooky, eh?

Here's the list. I probably forgot some. Have at it...

* Global housing crash
* Global financial meltdown
* Stock market crash
* Dollar destruction
* Massive government bailouts and stimuli
* Indymac, Countrywide, WaMu, Fannie, Freddie, Lehman, Goldman, GM, ...
* Obama victory / GOP destruction
* Gold
* realtors humiliated, NAR discredited, homebuilders destroyed
* Illegals out of work and going home
* MSM no longer trusted or respected
* Mortgage brokers unemployed, never to return
* Inflation/Deflation/Inflation
* OilPANIC. RicePANIC. IcelandPANIC.
* State and local government budget disasters
* Mass layoffs
* Change of collective consciousness on debt, savings, housing, consumption and trust
* Fraud
* Hedge fund blowups

What's still missing or to come?

* Arrests and trials
* Hyperinflation
* Riots and social disorder
* Crime
* Government failures and coups
* Resource wars
* Congressional investigations
* New regulations
* Breakup of the NAR/MLS
* Recovery?

20 comments:

Anonymous said...

Where will the largest concentration of these forecast 8 million foreclosed homes in the next several years going to be.

California and Nevada have the highest concentration of these ALT-A loans.

http://farm4.static.flickr.com/3233/2775322730_048c0d2267.jpg

Anonymous said...

Sounds like California which had the biggest run up in during Housing Bubble Ponzi Scheme will get it fair share of lost.

Where will the largest concentration of these forecast 8 million foreclosed homes in terms of Option ARMs

60% of the 500 billion are in California.

http://www.doctorhousingbubble.com
/wp-content/uploads/2008/12
/0604_arm_reset1.jpg

Ross said...

monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys monkeys

keith said...

I'm heading somewhere in January where I fully expect to see rioting and massive social disorder

Should be interesting

Went2puke said...

Recovery? What recovery?

Keith, I am afraid the good times are forever gone! I don't think the world will recover from this, unless something VERY, VERY BIG happens. WW III, maybe? A breakup of the EU, the USA? A global natural disaster? I don't know, but something of that magnitude.

The entire system has to be reset before we can think of a recovery. The crooks in charge of world affairs have done too much damage. If you still haven’t realized, we are too deep in the sh*t they’d created!

The scenario is best described like this: We are all in an airplane that suddenly started losing thrust and began slowly going down. The pilots, who were asleep until then, woke up and began scrambling for an emergency plan. They figured they had no alternative but to dump some fuel to allow the plane to make it to the nearest airport. But how much fuel should be dumped and how much should be kept? They couldn’t tell for sure. So they began guessing. They dumped the first ton of fuel, but the plane kept losing altitude. They dumped more, then more again, but the plane was still going down.

Now, they realize that if they don’t dump more fuel, the plane will crash, but if they do, the plane won't make it to the airport. We are now in that situation. The plane will ultimately crash, whether they dump more fuel or they don't--there will be no soft landing!!

And to you guys still talking about where to invest your money and how, you are totally missing the point. There is no place that’s safe for your money anymore. Your guess is as good as mine. Yes! It’s come to this! It’s a toss; you might win, or you might lose.

IMO, whatever we do, we are only perpetuating the blind greed that led us to this untenable position. Let's just stop and think for a moment, and look at all the things we own. Do they make us feel like we are worth something? No! We want more...

Anonymous said...

" keith said...
I'm heading somewhere in January where I fully expect to see rioting and massive social disorder

Should be interesting"

Oh, so you're attending the Presidential inaugural in Washington DC?

Bring your baseball bat and helmet a'la Chicago in '68 and have your heath/accidental death insurance policy paid up. You may need them.

America on the Brink '09.

Imprison Bushco & Cheneyburton.

Do It Now.

Anonymous said...

Billions--Trillions.

Does anyone on the blog know exactly how much money (stated in US Dollars) there is in the world? Someone wrote "500 Trillion" in a post. Does the world value exhist over--say about a "million trillion"? Is there such a thing really as a "zillion"? Seriously, some of you Harvard Grads tell us what the top amount is!!! (Even if you graduated from the Univ of Harvard, Arkansas Campus.
Is there a "Quadralottaillion" that we poor dumbbritches dont know about? How much is there out there world wide?

Anonymous said...

* Mortgage brokers unemployed, never to return

Mortgage brokers have never been busier in my sphere (so. Cal) Try to nail one down this week. Those who can are beating down the doors to do a refi at rates not so low in 37 years. I'm applying, and I doubt calls will be returned before January. From today's LA Times: http://www.latimes.com/business/la-fi-mortgage20-2008dec20,0,6107432.story

Anonymous said...

white people being seen as the racist, hateful, greedy, selfish people they are. willing to distroy other countries, peoples lives and steal a few last pennies from people pockets so they can have multi million dollar homes, expensive clothes, shoes, private schooling, exotic vacations, portfolios, 150,000 cars, college for drug addicted children, six figure salaries. all this mess was caused by greedy WHITE people and you know it, but you still want to blame blacks. They don't own shit and are not invited into the finacial world so they won't be able to get their hands on the real money. (sports is not a true thing, it's entertainment for whites didn't Howard Cosell say look at that monkey go) Things had to be really bad for whites to vote in a black man. And you will blame him for this mess from day one until you get a reversal of fortune. When you go in the bathroom look in the mirror and say (provided you are white) our people caused this mess and have no one to blame but our selves and our all consuming greed and desire to have everything and leave nothing for anyone else and run over any other race (mainly blacks) that tries to have just a little of the "American Dream" and steal all their farthings too. Yes it was my white counterparts and friends who conspired to strip all wealth from this country so they could all be billionaires (millionaire wasn't good enough) and made nothing, not even a paperclip but felt they should just have to have a billion dollars to make themselves feel good and successful no matter who they distroyed. I may not be a rich american, but I am white and I can walk anywhere because of my whiteness and be treated like royalty which makes me better than the richest black person (OPRAH), that has ruined this country. Just like my ancestors stole America from the Indians, stole black people from another continent and forced them to work the lands for free by beating them and then breeding them like cattle and then denying they were even human (all the while the masta was screwing the slaves, but then syphillis was passed from white men screwing the sheep and then screwing their wives so there could be an argument that black females aren't human) once again we as a white collective community have again did something so horrible that the whole world is gonna pay. We were once again greedy and didn't feel the need to share, have respect for the others that share the earth (except the animals, because I will treat a dog better than I will treat those starving humans in the lands of Africa). The creed of the white man "GREED IS GOOD" or "unto thyself be true and screw everybody else".

Roccman said...

missed one keith

next stop after exceeding carrying capacity...

well you know the answer.

The Great Die Off of 2010.

Anonymous said...

Ubammmmmmys impeachment along side his political buddy the gov of Illinois.

WTF1920 said...

How many of our rights will we be able to save when the damage is done?

a mean and greedy sob said...

Today's market ticker is good, and reminds me of a post I saw here recently.

Americans have, as a nation, become fat, dumb, "entitled" and lazy.

Our Declaration of Independence lists the following rights that are endowed to us by our creator...


Yeah, I got to rent that Idiocracy movie recommended by that poster.

Anonymous said...

>Can you believe we've come to this?

I'll tell you one thing, DOPES can, belatedly however.

hp fan said...


What's still missing or to come?


Gold bubble bursting, and don't give me that crap about Uncle Ben printing money. Look at what it took to give GM a small loan of under 10 billion (that's a loan of 30 bucks for every American) at 5% interest. There will be massive fighting in congress on any and all "bailouts"

Texas oil bust, the only state with more houses built in the last decade was Florida. This will get ugly and very fast as non-resident speculation was rampant and didn't factor in property taxes. Oil fell to 10 CENTS A BARREL during the Great Depression and could get very close to that if prices continue their exponential decent into the abyss.

On a final note, some asset prices might be undervalued but the Bears are hungry for yield just like the Bulls and will continue raiding assets they think are overpriced until they can walk into any bank and get 5% CDs again. Bears are lazy like that and is the reason markets overshoot on the downside.

WaitingToBuy said...

Was watching that 1984 movie Red Dawn.

But what was interesting was the beginning where they talk about what has happened in the world.

Wikipedia summerizes this as "the worst harvest in the USSR since the 1930s, worldwide economic problems, and the dissolution of NATO due to political infighting -- resulted in the Soviet Union and Cuba invading an unprepared and mostly solitary United States igniting World War III."

Even though the movie is CHEEZY it has some serious themes. Worldwide economic problems will cause global nation state instibility!

Anonymous said...

Gold bubble bursting, and don't give me that crap about Uncle Ben printing money. Look at what it took to give GM a small loan of under 10 billion (that's a loan of 30 bucks for every American) at 5% interest. There will be massive fighting in congress on any and all "bailouts"

Give me some of that money helicopter boy is printing and I would turn it to gold in a second.
I could not believe people were so dense they could not see the oil/commodities bubble blow up right in front of their eyes. A blind man could see it from orbit. What, that was two months ago.

Helicopter boy has printed and handed out trillions. The hedge funds are almost done liquidating. I see the mother of all bubbles comming. Once oil and commodities start trending up the herd will stampede just like last week, I mean 4 or 5 months ago. Tell me that was demand, every peek oil guy did and of course they are the smartest guys in the room. Schiff has it right. There is just to damn much cash out there in the hands of fools and tools and they will chase the only thing left that has percieved value or the chance at gaining percieved value.
I'm going to invest in the magic popcicle.

casey said...

quit your bitching, gas is cheaper!!!!!!!!!

Anonymous said...

hey retard Anpnymous, talking about greedy white people, many of those greedy ones are actually Jewish...so doesn't that make you an anti-Semite?

get a life looser!

Anonymous said...

YES Keith--

It is AMAZING how far along the road to Hell we traveled in this last year!!

I mean think about it people! If someone read you the cumulative list of takeovers, BKs, and failures a year ago, you would have thought they were CRAZY!!

The danger now is, I think SO much has happened, SO FAST, that Americans are too numb to do anything about it. Instead of protesting in every city across the country, we hibernate and hope things will somehow correct.

I think we are in for a RUDE AWAKENING. I dread to imagine what this year will bring. It ain't going to be good.

Best of luck to all.