January 10, 2009
And now an address from your President-Elect on the housing panic, historic economic crash and massive government bailout
Too bad nobody would listen to us.
Because now, we're simply f*cked.
Get that printing press going.
Because this sucker is gonna cost your kids, and their kids, and their kids, and their kids, and their kids, and their kids, and their kids, and their kids, and their kids, and their kids, and their kids trillions.
Trillions and trillions and trillions.
If it's a moral obligation to leave your children a better world, then this current generation of Americans, and the Baby Boomers in particular, led by George Bush and Bill Clinton, have been a miserable failure.
History will not be kind.
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25 comments:
Shiller on the bubble and why nobody would listen
http://www.nytimes.com/2008/11/02/business/02view.html?_r=1
Farkin seven billion eating machines on planet earth, what do you expect. The ptb is merely guilty of making shit in the usa worse much faster than it otherwise would be. It doesn't matter what anyone does at this point.
Nobody hears the fire alarm while the party music is blasting.
It's only when the partyers actually FEEL THE HEAT that they pay attention. Human Nature 101. Duhhhh.
How many times has the Argentine government defaulted on its debt obligations?
Yet there are still 'investors' willing to lend them money.
Wait for the 'second republic' in America. The debt will reset, America will start from scratch and everyone will be happy again. And, in less than 20 years, astute 'investors' will be lining up to purchase the 'second republic' securities.
Lather - Rinse - Repeat as necessary.
Im curious Keith.
So far for every action or inaction, you have been nothing but critical. Its easy to play armchair president but I am interested on what you have to say that Obama should do. All of your recent posts have been about impending doom and gloom. There is none of the insightful commentary that made HP so attractive.
Detroit and Flint MI have homes for sale listings at $1,000.00 says an article today. One or more even at $500.00. This is moot though because nobody in their right mind would live in either place. The article was pretty amusing though. All the houses had been sacked for plumbing, electrical wire, anything resaleable. You are required as well to bring them up to city code before you can live in them legally. You would not have time to make repairs because you would most likely be standing at the door with your trusty shotgun to keep the gangs and such out. The city would probably not have any inspectors brave enough (or dumb enough) to come out and give you a green light to live in it even if you did make the rehab. I would prefer Baghdad to Detroit as far as scenery and safety are concerned. I supose if you wanted to go to the grocery (if still in business) or Home Depot (if still in business) you might borrow a BFV (Bradley Fighting Vehicle) from your local National Guard Armory (if not deployed to Iraq already) and a squad or two of their soldiers to protect you. Thanks UAW!!!!!!! Thanks for providing us with affordable housing!
edgar is spot on...
enjoy the die off...
sup buzzzzzz??
where's FMW?
We're f*cked because they passed the baton to your Messiah, who's nothing but a puppet from the same shady group controlling the country (and the world). Don't believe it? Pay attention to all his cabinet members. Let's start with his Chief of Staff, a Mossad operative. I won't even get into Obama's puppet master, Zbigniew Zbrinski.
If your Messiah was really serious about fixing this mess, his plan would consist of:
1. Giving large tax breaks to companies that manufacturer in American territory. This way all outsourced manufacturing and jobs would come back to the US. See, you don't even have to raise taxes on the companies that outsource, but just give a large tax break to the ones that produce in the US.
2. Cut military spending by 50% immediately.
3. Close all bases around the world and end both wars immediately.
4. Cut all foreign aid until deficit disappears, including to Israel.
5. Get tough on immigration laws and raise wall on border with Mexico. Out of control illegal immigration is killing this country. That wouldn't please Barney Frank, because he made a sweet deal with the Mexican group La Raza, in order to get the Latino vote. That obese fag is selling America to illegals in order to get votes.
Since we know that your puppet Messiah won't take any of the above common sense actions, indeed we're all f*cked. I suggest that you all stockpile on food for the next 5 years because a serious crisis is coming (and you can feel it). When your Internet, Cellular, and phone stop working at the same time, you know that Marshall Law has arrived.
What would you do when you spend out of control, would look up and waste all we have. What would you do when you waste all we have would talk on tv like fool. Oh, I would talk on tv like a fool, Oh I would talk on tv like.....
The beat less.
Paul Krugman says that Obama's recovery plan won't work:
http://tinyurl.com/7y3tv9
Good luck!
http://tinyurl.com/8vd2f3
He is one cool mofo
Another sign that we're heading for a deep depression. I just got this email from eBay:
Get a head start in 2009 with these seller specials running now:
50% off auctions-the whole month of January. Ring in the New Year with "quick turn" auctions. Get 50% off Listing Fees all month for 1- and 3-day Auction-style listings. It's a great way to sell single quantity and unique items and get a quick visibility boost in Best Match search.
Hi Rocc!
sup buzzzzzz??
Not much, munching popcorn.
...where's FMW?
I should ask you that. ;)
Ok, posters are now communicating with each other on this blog.
Wow, Keith, you are the new underground network of the Post-Bubble Era. You rock!
He is not my President, as I did not vote for him, nor will I support him. America needs fiscal responsibility, until then, this government represents itself, represses me through borrowing, taxation, reverse discrimination, and needs to be put to an end. Boston Tea party where Pelosi, Reid, Bush, Cheney, Franken-Stein, and Barney Banking Queen Frank are the tea.
Printing more worthless money and cutting interests rates are not the solution - Obama's falling right in line with the status quo.
The solution is to *immediately* cut the fat at the top, withn the public service sector where there is not only rampant waste but mediocrity.
Take that money and invest it in infrastructure for the long term.
Only then will we be getting a stronger footing in this country,
and actually start creating something of worth.
Meanwhile while the devestation of the economy (caused by our government employees and wall-street/banker cronies) is being felt deeply on the streets, the corporate crooks are still buying and selling each other out.
Might as well get some cash before the real sh*t hits the fan down the line.
Yes, a friend of mine living in Alta-Dena has told me how many people in foreclosure have started the process of ripping all the copper piping, wall heaters, stoves, etc... in the hopes of selling these items.
Sure, you're left with a shell for a house with thousands of dollars needed in repairs to make it somewhat livable.
Another interesting thing happening is that property taxes are going up, while the value of housing is steadily dropping.
Without taxes, the public service sector is toast, so they'll keep milking this one as long as they can.
Anonymous said...
Detroit and Flint MI have homes for sale listings at $1,000.00 says an article today. One or more even at $500.00. This is moot though because nobody in their right mind would live in either place. The article was pretty amusing though. All the houses had been sacked for plumbing, electrical wire, anything resaleable. You are required as well to bring them up to city code before you can live in them legally. You would not have time to make repairs because you would most likely be standing at the door with your trusty shotgun to keep the gangs and such out. The city would probably not have any inspectors brave enough (or dumb enough) to come out and give you a green light to live in it even if you did make the rehab. I would prefer Baghdad to Detroit as far as scenery and safety are concerned. I supose if you wanted to go to the grocery (if still in business) or Home Depot (if still in business) you might borrow a BFV (Bradley Fighting Vehicle) from your local National Guard Armory (if not deployed to Iraq already) and a squad or two of their soldiers to protect you. Thanks UAW!!!!!!! Thanks for providing us with affordable housing!
Irrational fear is not good for anyone, but seeing a problem for what it is - and offering suggestions on how it may be corrected - has nothing to do with "doom-and-gloom" ... that's reality.
For far too long this country has held it's head in the sand and labels any type of concern as being "gloomy".
I'll error on the side of caution with what we're facing now ... there's nothing rosey about this situation ... not one bit.
Anonymous said...
Im curious Keith.
So far for every action or inaction, you have been nothing but critical. Its easy to play armchair president but I am interested on what you have to say that Obama should do. All of your recent posts have been about impending doom and gloom. There is none of the insightful commentary that made HP so attractive.
That nergro prez was put into power as a joke from the elites, to calm the uprising that's gonna come from the lower levels of society.
Sadly, it's NOT gonna work.
They've been throwing around the $Hundred-Billion number like it's the base unit lately....can't wait until the $$Hundred-Trillion figure starts to get thrown around.....
Ron Pauls ideas on how to fix things....
"I think they could do something, they could cut spending, balance the budget, bring our troops home....we need to change our way of governement, we need to live within our means."
"We need to change the philosophy of gov."
Ron Paul on Obama plan...How is a government spending more money they don't have and taking on more debt going to fix the problem of a nation with too much debt?
And you dopes voted for this tool because Ron Paul withdrew? He quit because he didn't have the millions given to him by the special interests.
Next time, do the RIGHT thing and write his name in even if he can't make it to the end. Hopefully we won't have gone cannibal in the next four years and there is something left to save! Idiots!
He's going to create 3-4 million new jobs?
Hmm... Maybe. Who knows? Just like Weimar Germany, those striking workers still had jobs and still got paid. But they were paid in printed fiat currency. And, in the meantime, the striking workers were not producing anything of value to the economy. And that was the problem.
Here we are bailing out the states, printing money to support their bridges to nowhere and extend unemployment benefits without producing any valuable goods and services.
Here we are blowing money on 'education', as though having our spend their productive years writing boring essays on anthropology and studying for their women's studies exams is going to someday lead to the production of more valuable goods and services.
Here we are buying up securities backed by bad mortgages, credit card debt and auto loans with printed monopoly money.
Relative to goods and services that are of value (corn, sugar, medical treatment, pharmaceuticals, gold, oil), the value of these printed dollars will be worth less. It doesn't matter if other countries are doing the same thing.
Once we get double-digit inflation as measured by the CPI, the fed will have to raise rates and then the economy is done.
Obama is like the messiah in at least one way: he will be crucified for our sins.
Obama is like the messiah in at least one way: he will be crucified for our sins.
Pauls Friend!
I Love You Paul!
I agree with the blame on GWB and Clinton. However, it's not like Obama's generation was any different. It's also the 40-somethings who have been lapping at the "home equity" trough like pigs to slaughter too. And, he's just proposing spending our way out of this so we can (yeah, right!) go back to more of the same.
You're still giving him a pass, and it's not deserved.
Has anyone else noticed there is very little exciting here, and very little that sounds like it's worth spending $800 billion on????
We need medical research into autism, alzheimers and cancer. We need much better testing of chemicals before they get put into childrens toys.
We need to build public transit systems, including electric trains, and more research into alternate energy (not just doubling alternate energy usage.)
To tear into one of his pork projects: putting better computer labs in schools isn't very helpful. For the most part, computers in the classroom are a distraction.
Going into old coot mode: when I was in high school, we used card punches in computer science, and we LIKED it!!! (Well not really. I was pretty happy when we got apple IIs and I could waste time playing space invaders.)
This is the same old same old kind of democratic pork. It only sounds slightly different because we are used to republican pork.
Also, notice that Obama doesn't seem to notice that there might be a problem with borrowing $2 trillion dollars next year and every year thereafter. (Yes, it will be $2T). How bright can he be?
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