The Darkest Storm is About to Descend - You Can't Imagine the Carnage

Quote from krazykarl:

I have another fact for you: in about 10 billion years our Sun is going to go nova; it's obvious that the cause is fiat monetary abuse by hundreds of civilizations on this planet. Bad implies bad, so it must be the cause.

Another historical fact: Greenspan lowered interest rates a lot 7 years ago, thus boosting equity prices, so he must be responsible for the $5 I've pulled out of my recent GM trade.

Christ already - just because you can associate two things does not mean they are dependent upon each other, that seems to be the core logic of ET.


You already made an assumption that is incorrect: did I make any mention of being "rah rah rah USA??" Please quote it, as we all know your positions are extremely accurate, so I must have said comments regarding my "Rah rah USA" stance. There's no way you could have, again, drawn an incorrect parallel between my comment about a type of monetary policy and something totally unmentioned. No way.... Wait, I must be "rah rah everyothercivilizationthatusedfiatcurrency". Thanks for letting me know!
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Well, you're welcome. Get your head out of your ass and wake up... lest you succumb.

I DARE you to read some world financial history, then come back and tell me I'm wrong!!
 
Don't get too hung up on JUST the mortgage rate side of the equation.

T-bill rates are equally important. Why? Because sellers want utility after they bail and cash buyers also need alternatives to keep them sidelined.

For example we both know that a guy spending a mil has a tougher time borrowing than a year ago. However the CASH BUYER sees a million as nothing more than a less than life changing 17k a year in Treasury interest. IOW's a million has little value as far as riskless return.



Quote from ByLoSellHi:

Yes!

There is no doubt that rental unit housing will see price appreciation.

1) Banks tightened lending standards on mortgages in draconian fashion.

2) Fewer people, even those with good FICO scores, have 20%, let alone 10% down, to buy a house.

3) Rental units don't carry nearly the same carrying costs that owner-occupied housing does (property taxes, insurance, etc.).

4) Mortgage rates are rising and will only go higher.
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Quote from Pa(b)st Prime:

You're correct.

We already had the "crash" ala the 1930's. It was Tech 2000-2003.

This is the 70's. And yes the risk is a Miami condo trading for a million worthless dollars rather than finding no buyers above zero.
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Hey PP are you in CA or FL?
 
Quote from gnome:

Well, you're welcome. Get your head out of your ass and wake up... lest you succumb.

I DARE you to read some world financial history, then come back and tell me I'm wrong!!
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I've already read a good amount on 'world financial history'.... thanks. ;)

Now I dare you to buy T. You can buy me lunch in November as a thank you.
 
Quote from gnome:

Good chance you are correct. America is possibly facing something unique in its history... CREDIT EXHAUSTION.

Historically, since the creation of the Federal Reserve in 1913, economic expansions and contractions have been orchestrated by the Fed. THIS time is/may be different... the Fed has kept the credit "pedal-to-the-metal" (and LIED ABOUT THE CONSEQUENCES) since 2003, and it's possible/likely the "borrow and spend" phenomenon has run until the "house of cards has become exhausted and collapsed".

America has never faced this before. We don't know the consequences for certain... could be worse than '29-'33.
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BINGO...Credit exhaustion..
The American Dollar and the US Long bonds are the biggest bubbles in history...
THe world will soon wake up to this con and will stop financing our consumption...
 
Quote from krazykarl:

I've already read a good amount on 'world financial history'.... thanks. ;)

Now I dare you to buy T. You can buy me lunch in November as a thank you.
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You apparently don't "get it"... it doesn't matter how much you buy, own, have or "make".. the Gummint intends to screw you out of EVERYTHING YOU HAVE... ALL OF YOUR MONEY WILL BECOME EFFECTIVELY WORTHLESS... through taxation, inflation, currency debasement. It's a RACE to see if your paper money assets will survive through your lifetime. Boomers have a 50-50 chance. The next 2 generations are (1) F*CKED, and (2) DOUBLE F*CKED!
 
Last night I had dinner with a very successful LA restauranteur..
He's a European guy, but has been here for more than 30 years...

You should have heard him spouting off Fox News sound bites like he was fucking Sean Hannity...

and I quote:
"Obama is a Muslim"
"The economy is fine - it's all in your head"
"You should be buying real estate now"
"I went long Citi at 13 and sold at 17. The banking system is all good"
"Oil is up because we don't drill enough"..

Just nonsense...
 
Quote from gnome:

You apparently don't "get it"... it doesn't matter how much you buy, own, have or "make".. the Gummint intends to screw you out of EVERYTHING YOU HAVE... ALL OF YOUR MONEY WILL BECOME EFFECTIVELY WORTHLESS... through taxation, inflation, currency debasement. It's a RACE to see if your paper money assets will survive through your lifetime. Boomers have a 50-50 chance. The next 2 generations are (1) F*CKED, and (2) DOUBLE F*CKED!
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Fail.
 
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