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PerpWalkWatch - # of Hours New AG Eric Holder Has Let Angelo Mozilo Run Free
Eric Holder and Barack Obama
Failure to
Arrest
Angelo Mozilo
2862 Hours
(countdown suspended 6/21/2009)
ERIC HOLDER - YOU ARE A COWARD
DO YOUR JOB
(UPDATE 6.4.09 - SEC CHARGES MOZILO WITH INSIDER TRADING. YET ERIC HOLDER STILL SITS ON HIS ASS AND DOES NOTHING)
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83 comments:
For the average Joe it's:
Superbowl!
J6P moving from fear to desperation. Governments and banks moving from desperation to panic. Well-informed blog readers moving from panic to capitulation.
Russia: stuck between "desperation" and "panic" as more and more rouble savers awake to the "smooth devaluation" of the national currency, and jobs created during the boom period are downsized. In coming months the bulk of the private-sector debt will have to be either repaid, refinanced or defaulted on (take your picks! :)) Unless something positive happens, we are heading toward an overall PANIC really fast. So much for a "hydrocarbon empire" of 2007.
No longer on the chart.
They are at some point far off it labeled "clueless".
It reminds me of the person that brings their car into a mechanic because of an electrical problem yet is clueless what is wrong. The person hopes/trusts that the mechanic will fix everything and hopefully it won't cost too much and not much troubleshooting will be needed.
Everybody looks at Obama as if he was that mechanic. And hopefully, a mechanic they can trust.
If it were only so simple as freaking car.
That's why the people are "clueless"...they think it is a simple "fix".
this chart is irrelevant,people don't get it.because it goes beyond money.
How can we tell them it's all over?
We are at the Desperation stage now.
desperation
I don't see "wars and riots" on the chart Keith
We are still at the fear/denial stage. The reason why I say that is because I keep a close track of the real estate market and attend a lot of foreclosure auctions. There are still people out there who buy an asset that is overpriced (if the asset that you just bought doesn't generate income but a loss then it's overpriced! Duh!!!) and think they got a great deal.
For example, a LLC just bought a strip mall with 2 large stores and 5 small stores. He thought he got such a great deal because the original price was 4.5 M and he got it for 1.75 M. Now, four of the stores are empty and even if he rented all of the stores out, he would still end up losing money every freaking month. That commercial property needs to sell for $900,000 tops in order for anyone to make money or perhaps 600K considering commercial real estate will hit a severe downturn.
So just because prices are down doesn't mean it's a great deal. But because there are still fools out there I think we have not hit bottom.
CAPITULATION.
DESPONDENCY in Fall 2009.
Buy a house in 2010.
I'm half thinking desperation and half thinking that it is different this time and we are in uncharted territory. Civil unrest and riots are not labeled on the traditional curve.
Mish is talking about peak credit and peak earnings, which along with peak oil would force some rather unpleasant changes.
"Clueless" and "still fools out there" just about covers it here! No bubble here, but the For Sale signs are staying up longer and longer and............
'At the same time, who's to say people enjoy their lives more today than they did in 1250 or 1850 or 1950?
Money, and possessions, may very well likely have not bought happiness after all.'
--------------
Yeah, I was thinking what if we were all suddenly blipped from being bloggers in this site and thru some Twilight Zone mechani were all suddenly on the Oregon Trail trying to get a covered wagon up the hill. Raining hard, some people sick, no place up ahead to stop. No place up ahead. Some men going off trail to go shoot something to eat and cook. Finally getting to top of hill towards sundown, and beautiful sunset, then full moon comes out as everyone falls asleep in exhaustion. Get up next day, and start over, pretty day and not too cold. Wear same clothes day after day. Chew on dried pieces of pork for strength. Fear etched on everyone's face, but strength and determination too. Women not fat, thin but look old for their age. Men just worried about taking care of them and protecting their children.
Beautiful palimino horse everybody calls Pearl breaks her leg and has to be shot. Some meat cut off her to save to eat. Now only one horse so everyone has to take turns pulling pushing wagon up hills down hills. Food scarce in cold winter now.
Clothes drenched in freezing sweat stick to body day after day. No shoe leather left on shoes, have to try to make do tying pieces of wood to feet.
Attacked by Indians in terrifying encounter. One woman and child murdered. Dig graves in frozen ground.
Finally spring comes and miraculously come to a beautiful valley with lakes and streams.
Everyone beginning to smile a bit. Can finally wash clothes and lay in sun to get warm.
Food becoming plentiful as vegetation flourishes. Decide to stay here and gradually have cut enough wood to build small communal area for first year. Over months, enough wood is cut to build small cabin, next spring, build another and another.
Indians attack less often.
Some other people find clearing and all work together to build church and small school house.
______________
This was only 150 years or so ago.
In a landscape of everything all buttoned down now, with Walmart and McDonalds, don't understand why I sometimes feel the same fear and desperation felt back then when actual threats are miniscule by comparison. Must be DNA.
Sometimes might be easier to be on Oregon Trail, have something clear and real to fight for. Live hard, die hard. But that is what I call really living.
Just my stupid thoughts for the day. Gotta go to work.
Hey people, if that were the Republican National Committee’s biorythem, I’d say it was on euphoria/exitement. Osama has the Republicans so scared that the Whites Only Club just elected its first black chairman. Cant believe a guy his age, named Steele, has never heard of the term UNCLE TOM. What a tool.
And according to Newt Gingrich, they are going after the young, black, Hispanic, and union voters. LOLOT.
Hell, they might as well go for the gay, flag burning atheists too! LMAO
Go check out Detroit, MI on Realtor.com
Houses for $1.00
One ad even said "enter a own risk"
http://www.realtor.com/realestateandhomes-detail/749-Calvert-St_Detroit_MI_48202_1102780488
It has a nice Soot and Ashes photo!
Breaking News:
Thousands protest in Russian east
Several thousand protesters rally in Russia's Far East, demanding the government resign over growing economic problems.
The Japanese are still at Denial. We will work inefficiently for 12-14 hours a day, thinking that by working long we will contribute to the economy. We see the smoldering house of cards that is our economy but most firmly believe that it wont happen to them. Stores are advertising great prices hoping that we will spend our stimulus checks but if even 80% off prices dont move merchandise there is something wrong. Yet with 27 000 jobs lost in just one work week (Jan 23-30) I am hoping things will change so we will press our government.
The US already has an advantage for even though Obama is doing imo, the wrong things he is at least doing something. Japanese politicians are useless. Its as if the government was created for those retards that couldn't find work anywhere else. Nothing but bickering and infighting. 4 prime ministers in 3 years.
Thankfully, the yen is strong. I will buy foreign currency when it reaches the peak and get the f' out of dodge before this house of cards collapses indefinitely.
"...the Whites Only Club just elected its first black chairman..."
Heh; had to laugh too when I saw that. How pathetic is that?
Fucking sham of a system. They really put the "con" in conservative; as if they were really about small government.
Don't get me started on the other crime family. They're about as opposed to oligarchy as a hooker is to getting paid.
90% denial, 2% liars with a nickel at stake; the rest mostly fear/desperation.
Most of the (offline)Cuntry took a sniff at the gloom-and-doom TV fare, then promptly dismissed it as librul propaganda.
Only when it hits CLOSE and HARD will they sober up.
Nobody has the balls to reach capitulation/despondency yet; we'll have to arrive there together to ease the collective mind.
Interesting chart.
In the US, we're only into the late stages of denial and early stages of fear. When people begin to understand that the government cannot fix this problem, full blown fear will begin and then we can move into desperation. We have a long long way to go.
In my office we have a combination of anxiety and denial.
EXAMPLE OF ANXIETY: One worker is anxious because her husband has now been out of work for five months and there is no job in sight. She is such a nervous wreck that she has gained 20-30 pounds, bursts into tears at her desk randomly, and has developed a tremor in her hands. Awhile back, her husband was a state employee but he retired. Recently he has been employed in the private sector. However, since he is a retired state worker, he does get 70% of his pay, which helps them get by now that he's been laid off from his private sector job. (Side note: it is beyond me why someone in his mid-forties like this guy can retire with a pension which is immediately collectible. This guy is big, strong, works out, plays golf weekly and goes boating on every possible weekend-- his lack of a job and growing debts be damned. Further, when he did work, he worked at a tree cutting company as a supervisor who occasionally had to pitch in. Why should guys like this collect a retirement pension at 70% of the three highest pay periods? Particularly as he retired after only 15 years of state service working 37.5 hours per week sitting in a security booth at a state parking garage. My guess: he claimed a work injury which permanently disabled him and he sneaked his way into a disability retirement pension. Here once you are found disabled, the State is barred from ever contesting in the future whether you are disabled, even if the State has solid proof that you can return to your regular job. In other words, all you have to do is fool the state pension board once, and you're set for life. So, I couldn't turn this guy in even if I wanted to. Gotta love those public sector unions!)
EXAMPLE OF DENIAL: Another worker--an aging trophy wife who works part-time-- is in complete denial. Even though her husband tells me that his business is way off and how stressed he is about paying his bills, this woman still wants him to buy a large lot and build another McManion for her. They already live in a McManion, but since it's 7 years old, she wants something new and fresh. She's got all these designs in her head which she wants to try out in a new house. I see this woman's husband either dead, or bankrupt, or both, within a year. By the way, this aging trophy wife's favorite phrase? "You gotta lookout for yourself because no one will."
Depression won't really set in for me unless the Cardinals go down by two touchdowns in the first half tomorrow.
Is that what we were talking about??
We are still in denial.
Don Payne
Anonymous - Oregon trail, really enjoyed reading that. Food for thought.
I'd say we are still in denial because the general consensus, with the help of the media of course is that Obama will fix everything in a short period of time. Its already been decided that he is one of the greatest presidents we have ever had. I think people generally believe that this is a severe but temporary downturn in real estate and the economy and if they wait long enough, recovery will be here by the end of this year. Every shill on TV says "second half recovery". Maybe when banks start to fail in high numbers and people lose their jobs or know more and more people who have, then we should move quickly to a fear phenomenon, especially if things worsen by the middle of the summer. I would say spring warmth in 2010 will bring out mass riots as we move into desperation and panic. Its a nice boondoggle to fill in holes or move hills, but that will create moral hazzrd when you have to "know someone" to get one of those jobs. Plus by then people who still actually have a job or still didn't cash out will have seen their 401Ks cut in half again. There have been more and more stories about police and the national guard preparing for riots and setting up detention centers. What a shame. Hopefully by the time we get through all this years from now, there will have been a revolt or another revolution that restores manufacturing to its former glory and the FED and the banksters are finally kicked out and we actually go back to sound money. I just hope that we stay America by the time this is over and not part of a North American Union or are controlled by a world government.
Keith
Time to come clean on Peter Schiff. As prescient as he was about the housing market, anyone who opened up an account with him last year got killed. His weak dollar, long commodities and overseas company bet was almost as bad as throwing your money away.
http://online.wsj.com/article/SB123327685671031439.html
"I see this woman's husband either dead, or bankrupt, or both, within a year. By the way, this aging trophy wife's favorite phrase? "You gotta lookout for yourself because no one will."
We can only hope. Locally, today they are burying a 40 year old dentist who beat me out of $8k unfairly and unsquarly. She has a three month old baby as well.
Fuck her. I'm glad she is dead. I hope she suffered tremendously and the kid grows up to be a drug-using whore, or worse another Madonna or a realtor...
DIE U PIGS
I wish the same fate on each and evryone in the REIC.
In my area, everone is clueless. They are not even at anxiety yet. While I'm stocking up on food and ammo, these people are stocking up on beer...for the "big game" tomorrow. The superbowl.
I think different areas reach different stages at different times. Some people understand what is happening to the world, others are just way too stupid.
Here in the middle of North America people have arrived at the point on your chart labeled "FEAR".
It will probably be another three to four years before we arrive at the point labeled "Despondancy."
Kenduffelsniffenspotzen
Anonymous said...
Fuck her. I'm glad she is dead. I hope she suffered tremendously and the kid grows up to be a drug-using whore, or worse another Madonna or a realtor...
DIE U PIGS
Damn, I have beating myself up for being mean for a while now..thanks for reaffirming my okayness.
getting close to panic
Quiet Desperation for some.
Denial for others.
Gold adjusted for inflation. Buy it while it's cheap:
http://www.jsmineset.com/wp-content/uploads/2009/01/gold-monthly-jan-2009.pdf
West Coast Willie,
Did you miss all the previous posts about Schiff getting it wrong for 2008.
Got the crash part right, got the collapse of the dollar wrong.
However, only time will tell if it's short term suckers rally in the dollar or not. I wouldn't be surprised for 2009-10 to be a very different story dollar wise. Of course anyone who buys before a collapse gets crushed, didn't matter if you bought commodities or financials or random stocks. Basically if you loaded up the first half of 2008 and it wasn't US Treasuries you got crushed.
I have a some overseas and oil and mining company holdings, though I bought most of them after October's drop (not all though). So far it hasn't been the best bet I've ever made, but we'll see. I didn't put everything in them mind you, I actually still have some US dollars floating around.
Housing market is into optimism, but I predict panic once again by mid-summer. The stock market is working thru the entire cycle in days or hours. These high speed cycles are probably a sign of capitulation. Good Luck.
Hey Keith, RussiaPanic is on:
http://tinyurl.com/cvvkdp
.
From San Diego, north county inland,
Around here still plenty of denial,
although I think it is at the end stage.
Face it, around here this winter has been gorgeous, with just enough rain.
It's hard to imagine bad when it's been so good.
Big changes to that thought process right around the corner!
.
sandiego,
agreed
I would say we as a nation are feeling capitulation and despondency. Millions of foreclosures, trillions of 401k value lost, many hundreds of thousands of jobs lost. On the bright side, I do see the bright shimmer of depression on the 2009 horizon!
I've never seen this graph before. Oh, I get it. It's the Obama Curve.
Optimism - October '08
Excitement - November '08
Thrill - December '08
Euphoria - January '09
Anxiety - February '09
Denial
Fear
Desperation
Panic
Capitulation
Despondency
Depression
Hope
Relief
Optimism
Clueless. Deer in the headlights look. That's what I see when I look around.
People need to settle down and relax. All of our problems are going to be solved once WW3.0 starts up. Then we will all have a reason to unite and sacrifice. Buy War Bonds!!! Can't we retool our auto plants to make tanks, planes and bombs? That would give us something to do. Then we need to annex Iraq in the name of US Security. Rationing. Black Markets. Unemployment will go down if we can ship some people away.
Well anyway.
It's fun to speculate what might happen, but things are so messed up with everyones monetary system that I think it is impossible to know for sure. It's like the weather. It has a mind of it's own now. The people that do have control are making things worse for everyone else in order to prop up the USD house of cards. As long as we can keep dragging the rest of the world down we will survive.
I think the best thing that people could invest in would be knowledge on how to survive independently. Start a pantry. Grow a garden. Protect yourself. Buy medical supplies. The basics are soon going to be luxuries for many. Good luck and have fun!
Maybe we are reaching panic......
“A large pool of homes on the market and low interest rates make this a great time to buy a house, agents said. ‘This is a freaking great time to buy a house,’ Lawrence said.”
-Kellar Lawrence, ReMax.
THIS IS A FREAKIN GREAT TIME TO BUY A FREEKIN HOUSE YOU FREAKIN MORONS. SO BUY BY ONE O' MY FREAKIN HOUSES NOW!
Still in serious denial. I got the pleasure of talking to a real estate agent the other day who claimed that in our overpriced little town in CT that only homes over 1-1 1/2 million dollars were going to depreciate (did I mention she had a crappy little house for sale for 680k that I could never see paying over 350-400K for?) Isn't this kind of like claiming that only people who drive Ferraris are going to get hurt by gas prices?
Serious, serious denial in New England.
Look at the scene in Baltimore:
http://www.examiner.com/x-284-Baltimore-Politics-Examiner~y2009m1d30-Photos-of-my-neighborhood
These buildings are still being held on to by desperate investors trying to "flip" worthless buildings for a profit.
.
THE CON continues tho...
Realtors are Hot n Heavy into the handbook again,
This is a great time to buy,
interest rates are at an all time low,
inventory is High,
Prices have come down,
we've hit bottom!
better get in before prices go back up.....
yada yada!
These people have No Soul!
.
I think most people are in denial, still, especially when it comes to housing. Even you, Keith, as I recall, called bottom in Dec and said MOABO. Unbelievable but true.
This depression is going to last a long time because people are just in denial about the situation. They think we're about to watch assets and equities go through the roof all over again. But that isn't what happens in a depression. Or at least if it does, it will be unlike any depression EVER in the history of the USA. Not likely.
IF a big bang is dropped next week, a "this is it" complete with REAL stimulus spending and a multi-trillion bank bailout, will that be it?
1) there's no way the government would do that
2) the problem is trillions and trillions and trillions, and cannot be fixed
3) Yup, that'll do 'er. Up up and away
My MOABO was about the Fed printing money
I was wrong though - for a few weeks. People are still rushing to the US dollar as they flee to safety.
Oh, won't they be surprised.
The dollar is the one safe zone.
Until it's not.
A message from Brazil, to our friends in the US.
It goes from Panic:
www.youtube.com/watch?v=2XwMPIqobag
To hope:
www.youtube.com/watch?v=aA6ome0TWd4
I would say we have firmly entered the fear stage.
I say we are only at fear now because the layoffs have really only begun in earnest the last few months. Everyone unemployed is receiving unemployment insurance and, more or less, using the time as a 'staycation'.
When the unemployment benefits run out is when panic really sets in.
A few thoughts on
Peter Schiff was Right
Peter Schiff was Wrong (MISH)
Just suppose Peter was running a Ponzi. Suppose he took all the investor's money (because he really knew that foreign investing would be at least as risky as investing in the US) and put the money in his own account. Then, he sent out statements that indicated a 60% loss. Who'd go looking? The markets really are down. If it was a scam, it was brilliant. Peter was dead on correct about housing and the US economy, he's been on TV, he's got a You Tube following, he advertised EuroPacific in almost every chapter of Crash Proof. He's very convincing, earnest, appealing, etc. It's a better scam than Madoff's Ponzi because you don't have to send out money and chances are pretty good things are not going to turn around. Next, close the accounts, close the company and...
Run for Senate.
I'm only saying this because I don't believe in anything/anyone anymore. (Except Andrew Hac). I'm also saying it because I don't understand how Peter could be so wrong about how to invest in this market. I bought Little Book of Bull moves in Bear Markets because I thought he would have adjusted his investment advise. Not at all...it's just the Reader's Digest version of Crash Proof with more EuroPacific advertising...Oh well, he got me to buy two books.
Las Vegas - upper west side - any East/West street I take, almost every com'l address has a huge mother-of-all For Lease signs out front, both sides of any street. I only notice them because I'm looking. My husband only notices the red lights he gets stuck at.
There is so much clutter on a Las Vegas street, you really have to be conscious to notice the For Lease signs.
There should be fear here but there doesn't seem to be. It's so wide open. A stalled major mall, hung up in the metal framing stage, is just something more to look at, on the way to a movie.
Some stores are gone but it's just more fodder for happy hour, which is brisk.
Definitely FEAR as I hear more people saying "it's scary" or "I'm fearful of.."
Having started down in 2007 I completed steps Fear thru Depression in 2008. Will likely hover there for a while (1-3 yrs) as Hope is a HUGE step.
I liked the Oregon Trail, too.
Like other posters, I'd put us on a downsliding curve. We Internet doomers are at panic/capitulation; governments and banks are behind us at desperation/panic, and the rest of the population is feeling vague "fear" twinges as the layoffs and foreclosures roll, day after day. But denial probably prevails for many as they wait for things to return to "normal."
Which will be a long, long, long wait, I suspect.
I can trace the path of my emotional reactions on that sine wave -- except for me, it all started six years back.
Move into an expensive house in San Francisco with a fantastic ocean view. Get a high-paying job to match my wife's high-paying job. Euphoria!
Read article in The Economist about "housing bubble." Realise that those snide Poms are right. Start seeing how so much else about the U.S. economy is a house of cards. Know that even our jobs in the medical and university systems could evaporate. Anxiety.
Watch as the pathetic mook John Kerry allows the devious goon KKKarl Rove to steal the presidency from him. Worry about realPresident Cheney starting a war with Iran that will end with the U.S. nuking innocent children. Fear that the rest of the world will turn against the U.S. Panic, despondency.
Make escape plans. Sell house. Do the hard yards to emigrate. Arrive in a safe, isolated place. Buy gold, cash out assets, shelter funds. Relief, hope.
See Obama win. Yeah, he's a front-man for TPTB. But hope he's like Chesley Sullenberger, and can glide the U.S. to a decent crash landing with minimum casualties. Hope that Americans, and the rest of the world, wakes up and starts doing things right. Realise that even if it doesn't, I've lived the bulk of my life during the good times, so I can't complain. I've got a good seat to watch the show from, and lots of popcorn. Optimism!
Yeah, that curve has charted my life. I just got on it early. As the saying goes, "He who panics first, wins!"
Here you go folks, this Denver Post editorial just about sums it all up.
We are a Ponzi Nation.
"We have met Mr. Ponzi and he is us--all of us.."
http://www.denverpost.com/allewis/ci_11505209
"They are at some point far off it labeled "clueless".
It reminds me of the person that brings their car into a mechanic because of an electrical problem yet is clueless what is wrong. The person hopes/trusts that the mechanic will fix everything and hopefully it won't cost too much and not much troubleshooting will be needed."............hey anonymous.. the problem is he(obama) won't tell the customer the cars brakes will fail next time he drives over 70 mph. cliff diving!
With respect to the stock market, I think we are heading into Capitulation. The market will continue to go down and when it hits a certain point -- I don't know what it is -- the masses will throw in the towel and sell all their equity holdings...ushering in a bottom. No matter what the big players and govt. try to do to prop up the market it won't work in the long run (yesterday these players got the Dow to close at EXACTLY 8,000 so we wouldn't go into the weekend with headlines blaring that the Dow was below that psychological level. Anyone watching the ticker Friday afternoon knows that the market was below 8k and the big houses came in and bid it up to close at 8k).
With respect to the economy, people are in the fear stage...they see all of these layoffs announced every day and it is spooking them big time. Well, we knew this was coming for a long time so I know Sashers are not spooked or surprised at all by this. Late this year or next year, when everyone realizes the money bombs are meaningless and we are going deeper into the tank...well, that's when we'll have panic.
What, did you really think that the Zionists wouldn't be running Treasury too? Here's just another crony who made a career out of daddy's connections. Another paper-pusher, taxpayer parasite, secret society freak. And we, the idiots, are supporting this global elite with our hard work, while they ride in limos, bang expensive escort models, dine in 5 star restaurants...I'm sick of these Blah Blah Bla & Associates fronts in Washington created only to collect millions from taxpayers, after a 10-minute PowerPoint presentation, or by punching the card in some useless nonprofit board that also sucks taxpayer money. So let's review Timothy Geithner's background:
1.Geithner was born in Brooklyn, New York. His father, Peter F. Geithner, is the director of the Asia program at the Ford Foundation in New York. --> Zionists controlling US money, as usual
2. Geithner spent most of his childhood living outside the United States, including present-day Zimbabwe, India and Thailand, where he completed high school at International School Bangkok. He then attended Dartmouth College, graduating with a A.B. in government and Asian studies in 1983. --> Geez, I wonder if daddy had anything to do with him getting into Dartmouth. Asian studies degree to run the Treasury?
3. After completing his studies, Geithner worked for Kissinger and Associates in Washington, D.C. --> Let it go, the "Associates" crap to suck taxpayer money, working for Mr. New World Order himself.
4. He went on to serve as an attache at the US Embassy in Tokyo. --> See, nothing but daddy's connections. Are you seeing a pattern here?
5. In 2002 he left the Treasury to join the Council on Foreign Relations as a Senior Fellow in the International Economics department. --> Hellooo Secret Society!
6. Geithner had not paid $35,000 self-employment taxes for several years, even though he had acknowledged his obligation to do so, and had filed a request for, and received, a payment for half the taxes owed. The failure to pay self-employment taxes was noted during a 2006 audit by the Internal Revenue Service, in which Geithner was assessed additional taxes of $14,847 for the 2003 and 2004 tax years. Geithner failed to pay, or to admit his failure to pay, the self-employment taxes for the 2001 and 2002 tax years until after President-elect Obama expressed his intent to nominate Geithner to be Secretary of Treasury. --> I mean, folks, this is just ridiculous. This guy is supposed to manager the gov's money!
7. Board of The Center for Global Development (CGD), a not-for-profit think tank based in Washington, D.C. that focuses on international development. CGD is responsible for a number of products, websites and studies including The Carbon Monitoring for Action (CARMA). --> Secret Society put him there to show up once a month and suck taxpayer money, and push the Carbon Tax Ponzi scheme that transfers even more tax money to bankers.
See folks, there's no other way for bankers to earn easy money, after CDOs and SIVs, so now they'll push the Carbon Tax scam. For instance, Every time you fly somewhere, the bankers calculate the carbon footprint BS, and then the airline pays that to Goldman Sachs, Citigroup, Bofa, etc. But in reality the airline will be adding that cost to your ticket, so you're the one paying. Another Ponzi to support bankers/Illuminati. They'll sell it by showing little fuzy polar bears, children running on green areas...ohhhhh, the children! All that to rob you clean, like they did with the housing scam. Ohhh, the American dream...everyone needs to own a house, Barney Frank trying to protect the poor...ohhh.
It's coming soon, and don't be surprised if BO announces a global central bank next week.
What desk workers and paper-pushers in Washington fail to notice is that we're experiencing a historical shift in consumer behavior.
Sure, lots of dumb people remain in denial, but many more got spooked or saw the light. And they're changing their lifestyles, growing vegetable gardens, cutting back, listening constantly to Suze Orman saying "Don't buy this, Never lease a car again in your life, Denied Denied Denied!" The popularity of financial blogs is another big sign.
Then you have all the so-called "smart" money that got burned by Ponzi schemes ranging from Madoff to Hedge Funds. Do you really think that those people, who practically lost all their life savings, will be blowing money anytime soon? I don't think so.
I don't know if you remember your Econ class 101, but one of the things that shifts aggregate demand is change in consumer behavior. And people are getting sick of all these bailouts, refusing to spend money. Who's going to buy another GM car? Are you?
Then you have BO trying to convince people to get more mortgages, get more debt, buy more plasma TVs, while his bill if full of pork. The party is over, and the only thing that was carrying this economy in the last 7 years was the housing Ponzi scheme and banker scams.
IF a big bang is dropped next week, a "this is it" complete with REAL stimulus spending and a multi-trillion bank bailout, will that be it?
I think you should read Denninger's latest Ticker if you think "that would be it". As Denninger would say, there's no Unicorn that craps skittles coming to save this economy.
No end to Kentucky power outage in sight, governor says
About 545,000 people were without electricity, and 200,000 without working water systems, three days after a devastating ice storm hit the state, Gov. Steve Beshear said.
The storm, which slammed areas from Texas to Maine, pummeled Kentucky on Tuesday and Wednesday, blanketing trees, houses and roads with ice.
Oh boy, I bet they need help to shovel all that snow from their solar panels, and unfreezing blades from their wind tower. Yep, this global warming is making everything sooooo hot! It's 20 degrees down in Florida.
PONZIIIIIII...
solidly in fear with BO and congress in desperation.
Out here in the Tampa suburbs, we're somewhere between denial and fear.
Denial - Control freak couple who lives on our street are still trying to sell their house for $150k more than it is worth because they installed granite and a shower in the master bath that looks like it belongs on the ISS. They also have a investment condo that they're trying to sell for 100% more than the going rents say it is worth. Did I mention that the wife worked for a military contractor until she was canned this summer?
Fear - We bought a piece of property for cash last year to escape our HOA situation, but the builders can't put us in a house for a price that won't leave us $100k under water immediately. You can smell 'em starting to get desperate because they need the work, and they're trying the old bubble tactic of working the wife, "Suzanne" style.
We (wife and i) live in Carmel Mountain Ranch in San Diego's North county.
Today at lunch we asked the manager at a restaurant "How has business been"?
His reply, just like the rest of the restaurants here..."noticeably slow"!
Then we asked, are you worried?
His reply, Very!
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Am I the only one who sorta hopes it All goes to Hell, because if it doesn't, there will be no lessons really learned?
Here is a housing bottom prediction fer ya. If you look on Zillow in a bubblezone like SF Bay Area, just about every house you look at had an exponential spike in 2004-5.
Now the fringe markets have already corrected 50%(Brentwood, Antioch and other armpit communities)but Orinda, parts of Oakland, etc., have not shown more than a 10-15% drop from peak. They have another 20-25% to go before the 2004 false move up is corrected.
So if you want a nonappreciating asset in Brentwood(for the next 5 years), then fine. Good luck with schools, crime etc.
But if you want to live in the more desirable locations, hold your fire until at least 2010.
They will be the last neighborhoods to fall but they will fall because unemployment will start to significantly impact the two income overextended households in those areas. Also, when there is real fear, cash is king and the selling will begin in earnest.
Also, no more low interest jumbos and no move up buyers. They are all either foreclosed or shut out because they have to prove they are working. I know, its terribly unfair that banks want you to have a job again.
Oh I'm sorry, Laurence Yun just said everything is going to be fine. Forget everything I said.
Re Peter Schiff, the dollar is going to get crushed and gold is going to the moon and I want to be on that ride but I don't want to lose 50% before the move begins. And that's where the sheeple that followed him have to start from now.
"...It's already been decided that he is one of the greatest presidents we have ever had..."
Translation: fringe right wingnuts have been trying to pin this disaster on him for at least six months.
Not to worry; he will make it much worse, and go down as a bad one.
No need to tip your hand so soon. ;^D
Where there were still many pockets of denial amidst a wider pattern of fear last fall, the most common mood seems to be despair now.
"Despair" or "desperation" comes closest to describing the shock being experienced those I know who are just getting a clue about the crash.
I think the American people are at fear tipping into desperation. Unfortunately, our Government is already in desperation tipping into panic. I therefore think that we will soar through panic real fast, and then, instead of hitting bottom, we will hit hyperinflation, because of all of the credit being pumped into the system. This will give The Annointed One an opportunity to save the pension funds (i.e. freeze 401Ks and put rules into place keeping money in them from being withdrawn by us); protect against shortages(ration basic necessities); and defend our liberties (by stationing a military unit at every Walmart.) Remember, for the first time ever, two Army divisions are stationed on US soil. Our forefathers must be turning over in their graves!
We are therefore buying a house. YES, it is time to buy. At 200,000, 4 bedrooms, nice middle class neighborhood, 200,000 sq ft, one acre pasture and the option to buy 3 more, miniorchard, and lake access. It is a reasonably fair price, although I am sure I could do better if I waited a few months longer. I could also do much worse if the government acts stupid, as I fully expect it to do, because folks, it aint just us panicking. It's the good old Government of the People By the People, For the People.
This house will be the third we own; the other two are paid off and leased out, in an area with good demand for executive rentals. This particular house is for us to live in, and we will once again have a mortgage of about 50 thousand. We are doing this to sop up most of our remaining money (which we withdrew from the 401Ks, taking the tax penalty early last year.) Also, if you are having hyperinflation, then you want some debt at low interest, and you want your money in real goods. (We also have metals, a stocked pantry, weapons, laying chickens and will put in a vegetable garden first thing.
Thank you anon @ 11.57 for your points about Geithner. I know plenty of CFOs, who would be better qualified to keep an eye on the money of the USA than this guy. I do not understand why he is not better suited to being an ambassador. That Turbo-Tax problem of his is a huge red flag. This is the guy who will be guiding our economic policy.
I didn't see "Last one out Turn Out the Lights"
Desperpanication!
Coconutz!
Am I the only one who sorta hopes it All goes to Hell, because if it doesn't, there will be no lessons really learned?
My friend, the global elite really wants it to go all to hell, so they can pass their agenda faster. That was the plan all along. You have no idea what's coming or how bad it's going to get. I hope you belong to the elite or got your bunker + organic farm.
Amazing how people don't stop to think: "Uh-oh, isn't odd and much coincidence that the entire world is getting screwed at the same time?
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SORRY TO BREAK IT TO YOU GUYS, BUT THE STOCK MARKET, OIL, COMMODITIES, AND GOLD ARE ALL MANIPULATED. THERE'S NO MARKET, ONLY A FEW MADOFFS/SHADOW GOV MANIPULATING NUMBERS. IT'S RIGGED.
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Ha! Bukko, you're so off base that you really should watch this video:
www.youtube.com/watch?v=38SYbigt8wY
my friend, take the redpill.
Thank you for the Alex Jones link, Anon @ 9:07 a.m. I hit the PrisonPlanet site occasionally, but Jones' deep Bilderberger conspiracy theories go beyond my capacity to believe. Perhaps I'm in denial too. My wife, who's a 9/11 Truther, also thinks I'm naive because I'm more of a LIHOP than a MIHOP. Who knows?
I still can't get behind the master planners idea because of two factors -- chaos and incompetence. The best-laid plans of mice and manipulators tend to fall apart because of unpredictable circumstances. But Jones thinks the Rothschilds have been successfully pulling strings since 1815?
Plus, people in general are fuck-ups. Massive conspiracies take armies of competent people, operating perfectly, in total secrecy. Most people I know are dunces. I don't think there are enough intelligent people in the world to pull that shit off for a month, to say nothing of centuries.
But that's merely my opinion. You have yours. I appreciate you taking the time to think of me. One of the reasons I read comments on a site like Keith's, where I disagree with many minds who post here, is to find out what people different to my mindset are thinking. That first Jones segment certainly was that.
Denial turned to fear for most people within the last year. Desperation and panic starting to take hold.
K from a ski town in the Rocky Mtns
Hope, isn't that what Obama promised. I've gone through the other stages and didn't get to shoot my gun once.
Desperation--BHO & the Senate (the Republicans after a few days of posturing) throwing the kitchen sink at 'em by the end of the week...
San Francisco real estate is still between denial and fear.
I feel the rest of our country is also
Fear.
We're between deperation and fear. forclosures are 1/2 price here in the bay area, but this doesnt mean its a good deal. We will see these same forclosure houses go forclosure again in another two years when the owners can't rent them out because rents keep falling. Just wait.
Was at the local pub a week or so back - the conversation has gone from: "I'm making so much from my oil-stocks and house(s)" to "I'm losing a sh*t load in my oil stocks and I can't get rid of my housing ancor if I wanted to".
Depression is now sitting in ... the SuperBowl high (albeit somewhat deflated from prior years) has now worn off.
Worse yet, wait till commercial real-estate begins to really start tanking ... and it will, it's only a matter of when it will start.
One of the greatest recreations of consumers is walking around the malls on the weekends - it won't be so fun when the few strapped consumers (and maybe a few security guards) are the only ones milling around.
The crash in commercial real-estate will make the residential slide seem like a walk in the park.
Anonymous said...
We're between deperation and fear. forclosures are 1/2 price here in the bay area, but this doesnt mean its a good deal. We will see these same forclosure houses go forclosure again in another two years when the owners can't rent them out because rents keep falling. Just wait.
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