Be honest: Who here has noticed lack of credit, hardship borrowing, etc?

Quote from Pa(b)st Prime:

Seriously?
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Yes, seriously!
A Realtor I spoke with on the same day said she's getting swamped with calls from Mtg. brokers that are going begging for business.

Like trading, some do very well, and most don't.
The one's that are doing very well are in business to stay I guess.
Writing loans every day.
A Title company officer did say she's doing more Short-Sales than she ever dreamed of, but at least it's business for the Mtg brokers, Realtors and the Title Company!
 
Quote from Pa(b)st Prime:

Keynesian? How do you figure? I'm the one who is merely telling the truth. Inflation in wages and assets has created a mini gentry class out of tens of millions, middle to senior white Americans. Many of them worked in government. Many of them own Dow 900. Many of them bought their home in Irvine or Tinley Park at 1978 valuations. I'm ANTI inflation but to deny the economic realities it's created is disingenuous. Besides this isn't exactly something new under the sun although I'd argue that in each successive cycle both the average American and people globally live better than ever before.
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LOL! It's not often you'd hear Irvine and Tinley Park used in the same vein. I'd say Irvine is quite a step up from Tinley. However, your point is well taken to a large degree. Where I'd make exception is those that work in industrial manufacturing. That sector has remained flat line for over 20 years. I'm not talking GM or Ford. I'm talking the average machine shop, fab shop and the like. You work in those you ain't making shit.
Your average Joe Lunch Bucket is living better, but it' ain't on earned wages, it's on credit.
 
Quote from CaptainObvious:

LOL! It's not often you'd hear Irvine and Tinley Park used in the same vein. I'd say Irvine is quite a step up from Tinley. However, your point is well taken to a large degree. Where I'd make exception is those that work in industrial manufacturing. That sector has remained flat line for over 20 years. I'm not talking GM or Ford. I'm talking the average machine shop, fab shop and the like. You work in those you ain't making shit.
Your average Joe Lunch Bucket is living better, but it' ain't on earned wages, it's on credit.
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As I get older Tinley, Orland, Lemont-suburbs my pompous North Side ass once laughed at are the only places left in Chicago that I politically fit. Orange County too. So I guess in a weird way Irvine and Tinley are connected, lol.
 
Quote from Pa(b)st Prime:

As I get older Tinley, Orland, Lemont-suburbs my pompous North Side ass once laughed at are the only places left in Chicago that I politically fit. Orange County too. So I guess in a weird way Irvine and Tinley are connected, lol.
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Politically they are a mirror image of each other. I used to live right near the Orange County airport back in the late 70's. Before the Duke died. Right near Main and MacArthur. Just got too congested for me and I moved back here in 1984. Wish I'd have held the property out there, I'd be a friggin millionaire, couple times over.
Smart money, in my not so humble opinion, is in N.W. Indiana. What you pay 300-400K for here will cost you 100-150K more in Orland. 250K more in Naperville. Enough of the ramble.
 
Quote from Mecro:

What are you, stupid?

Why do you think GS stock was falling out and the Fed had to allow them and Morgan Stanley to become money market centers. This is on top of Paulson screaming doom & gloom if the bill was not passed.

Who do you think was dumping oil like no tomorrow from $150 to sub $100? As well as other commodities.

There is nothing special about Goldman Sachs from your next standard scumbag Investment bank except that they invested much more into political connections, hence can get away with more. They jumped on the subprime derivative gravy train with as much force as the next guy. Their over-publicized short subprime position is nothing comparing to their long subprime position. Just a publicity stunt to uphold their stock price, temporarily.
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Looking for a fight?

Seems you know something Buffet doesn't. I find that a bit suspect....

I didn't see the FED backstopping Warrens 5 Billion stake in Goldman. Did you?

Also, please elaborate on Goldmans long subprime position? And how you know? I am interested.
 
Quote from indahook:

goldy traders were on the wrong side 2 years ago..quickly realized the error of their ways and reversed. making back the huge loss and then some


or so I have been told by extremely reputable sources......:D
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Buffet seems to think so.
 
I got tired of putting those courtesy checks in the shredder, so I called up my credit card companies and told them not to send anymore. They kept sending them. I called them again, they said they would not, yet they are still sending them to this day.

They are like herion pushers waiving bags infront of you, saying take it, just take it. "God Damn the pusher man".


Quote from mgabriel01:

I opened my monthly credit card bill last week, and sure enough - right in there with it were courtesy checks inviting me to spend up to my credit limit on the card (about $50K) --- for anything I might want


:)
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