The Housing Bubble

MG :

where do you live now? Why not consider sunnyside queens? lots of 2 family attached homes, plus lots have garages or off street parking…and wait it out to buy sunnyside gardens is nice lots of converted co-ops but parking is terrible…but no one considers the other side or queens blvd.

dj i live in middle village a few miles i way

not a big fan of sunnyside or woodside

if we eventually do buy it will be in forest hills-kew gardens or lic

Nice area..but i am not a fan of taking a bus to a subway, or back, at least we can walk home from the 7 at 40th st station at night.

Hmmm, somebody taking the bus up Woodhaven Blvd. every evening? God that trip is awful in the winter when the slush is knee deep :> At least you can walk when the weather is good.

Good for you. The first time he mentioned the cash offer I would have said, “good for you. I will just go take a quick dump and be on my way.” That’s the only down payment I would have left behind.

nyc boy you are so thoughtful
lmao

That is why one should always eat the jumbo spicy burrito platter before going to look at real estate. You never know when it will come in handy.

LOL

Thanks for sharing. When I hear the “cash offer” stuff I like to ask why they don’t just take it, and see what they say. Sort of call them out on it as it were.

If you call them on the bs chances are they have nothing.

I`m with you. I don`t think it will pass. It better not!

Lane

Yes, I agree. I normally “HATE” listening to Cramer (turn him off) but the other day I watched the beginning of his show and was pleasantly surprised to hear him trashing Congress for putting $6B in the bailout program for homebuilders.

This attitude that Wall Street (and related REIC industries) need to get bailed out of their foolishness needs to get tamped down pretty quickly. Nowhere is it written that New York *has* to be the center of our financial universe.

The home builders are a bunch of hard core, macho, azzholes, who think that the world revolves around them. They deserve to be slapped down, instead of bailed out.

They deserve to fail. Again.

Here ya go…

THE FLORIDA BOOM AND BUST, 1919-1929

The value of any asset drops to zero, in the long run.

“…your beloved buck.”

I think you are mistaking my pointing out your own hatred of Uncle Buck for a statement of my own preferences.

I liked my Fiat’s, even though their heaters were like “Old Italian women with Emphazema breathing on your legs”.

How bout the Firenza?

This is the most damning story I’ve read here. Ever.

Yeah, that’s the CIT Building….I attended a couple of company events there…not all that special on the inside, but I agree, it looks pretty trippy from the outside:

http://www.inemi.org/cms/graphics/CIT.jpg

http://www.fairfaxunderground.com/media/buildings/121_2170.JPG

If I were a rich supervillain, I would buy that building and make it my headquarters.

[saw that my reply hadn't shown up]

When I grow up and become a gazillionaire supervillain, I plan to buy that building and turn it into my headquarters.

well you never see a FAT gay couple…do you?

That article should give anyone a headache. I imagine the neighborhoods in Brooklyn and Queens have improved since I left in 2000 but most of those mentioned were scary at best.

So the NYT are gay-friendly, but lookists! Lol!

Shouldn’t that caption read “Bargaining queens” rather than “Bargaining in Queens”?

Whatever. You don’t need laws.

You just pitch to the people with the most disposable income. It’s basic business common sense.

True, just think of all the JOBS in the Wedding business, that will created when gay people can marry.

Hey their money is just as good as yours, I can’t believe a good Republican would be against creating JOBS!

Screw that. Think of all the divorces.

Why the divorce lawyers are not marching in the streets will forever be a mystery to me!

WE are on a roll today Faster…….

Being a dj and a paralegal, maybe this is my ticket to finally being wealthy.

Or A 300lb Drag Queen Flower girl with unshaven legs….yes i had to announce him/her a few years back at a commitment ceremony.

ew….LEG HAIRS!

I second that.

What about (f), punch Charlie Gasbagarino?

What about Mister Ha Ha? (Tobin Smith) Sat. mornings on Fox News.

Olympiagal,
FYI, Bialetti Moka Express 9-Cup Coffeemaker at Target. It’s a “mocha maker” and not really true espresso. You can get it in stove top or electric. I have the electric. Makes coffee really strong, too! For you purists out there, not it’s not true espresso. Still, it’s really good and REALLY STRONG! The delectable result gives me a good case of tremors for at least 4 hours after drinking it. Good stuff.
Roidy

Still, it’s really good and REALLY STRONG! The delectable result gives me a good case of tremors for at least 4 hours after drinking it. Good stuff.’

Ooooh! That’s an endorsement! ‘Cause I always like it ‘really strong’, and that includes my coffee.
I’m naturally caffeinated, so when I drink a lot of coffee it sort of cancels out and I become like a Zen monk, serene and wise. But, if I happen to drink just a wee bit too much, why then, I begin to blink in and out of existence like an alien hummingbird, which can disconcert other meeting-goers. And the wisdom goes far far away.
Small price to pay for good coffee.

The best coffee ever: put water in pan, when boils, quickly put in TONS of coffee espresso grinds (say, 1/2 cup grounds to 3 cups water), let boil for a few seconds, take off heat and let stew for a couple of minutes. Pour into cup, be careful to NOT try to skim off grounds. Add fresh milk to cup, if too strong. If out in the backcountry and no fresh milk, add canned cow.

Cowdog coffee, will make you howl.

RE: let boil for a few seconds, take off heat and let stew for a couple of minutes.

You forgot to add the two broken eggs. The grinds catalyst around the shells taking them both to the bottom of the pot.

Maine riverguide recipe…

No, the grounds are the best part…

I will be taking 2 round trips on Amtrak in April. The price isn’t that cheap but it’s a nice alternative to flying. I loved my Amtrak trip to Boston in October.

OT but:
I have been contemplating using the AutoTrain this summer for a NE vacation. Anyone have experience with the AutoTrain?

I have yet to figure out why flying is the same cost as taking the train. Perhaps that will change with fuel prices.

Hi, Jim, I’ve had experience with the Auto Train and I do recommend it, I’ve used it twice, the first time was 28 years ago when I first moved here and the second time was round trip about three years ago. Can’t say what it is like now, but it was just fine three years ago. The only thing I would say is, it gets into Lorton, VA early in the AM. If you haven’t slept well the night before, it can be a little hairy driving up 95.

Palmetto,
Thanks for the info. I really think I will try it this year.

JP–unlike airlines, Amtrak has to pay prop. tax on all their stations. Also, unlike airlines, they haven’t massively shed pension liabilities.

Train vs. plane fares really depend on what trains you ride and when, although recently Amtrak has trended higher. They are selling out trains a lot these days and need the revenue. Many of those airlines are running service at a lost. (Much of Amtrak’s cash needs are for capital and debt service on capital, as Congress mandated the NE Corridor project but then welched on paying for it and wants Amtrak to pay off Bombardier out of operating funds.)

CrackerJim–I think you will be pleasantly surprised, as Amtrak has done numerous upgrades to capital on the AutoTrain in the last decade. You can probably get a decent fare on it too because travel to Florida is probably getting a little anemic. I remember some fare specials on the AutoTrain a few months ago. Check the website; all the deals are on there.

My wife and daughter took the train from
Seattle to the east coast to look at universities last summer. Had a great time, really loved the train, the space, and the relaxation; it was amazingly affordable too. If you have the time, the train is highly recommended. I hate flying, with the totally full planes, no space to move, and the fat person squeezing me.

Grew up taking trains from PDX to ORD
and LAX to ORD plus returns.. As a kid they were so fun.
I would take train trip, definitely. Would be nice if gov helped out Amtrack instead of the ‘bridge to nowhere’ type of things.

I have yet to figure out why flying is the same cost as taking the train. Perhaps that will change with fuel prices.

There have been 4 airlines file for bankruptcy in the past week…with more to come.

Holy Moroni, you sure you’re not in Utah?????

Utah would at least have skiing…

I LIKE REV IKE:

God didn’t mean for you to be poor…

http://www.revike.org/

Rev. Ike dared to go where most theologians, Bible teachers, and preachers would not. As an evangelist, on TV, radio, and at mass meetings, he had the “nerve” to PREACH “Prosperity NOW!”

The “Prosperity Gospel” is a favorite theology at many of those “non-denominational” megachurches that have names live Living Waters” and “Wellspring of Life”

I, too, like Rev Ike.
His message was clear, concise, to the point: “Don’t send your money to the church or anywhere else except to me, Rev Ike.
“You can’t lose with the stuff I use.”

Anycdj,

I remember “Revere Ike”, if I recall after all these years in LA in 1966. I had a part time job working on the night shift at the LB Sears store. All the full time maintenance personnel were minorities and they just loved his radio program. This, even though I suspect we were making minimum wages.

I’m not sure I buy all this. Do you have some sources? I certainly believe there are plenty of people (and groups of people) who measure success by wealth but I’m suspicious about your claim of that being religious doctrine. I grew up methodist and never in my life heard anything that wealth is a proper measure of success in life. In fact just the opposite was taught.

In any case, as I said there are plenty of folks who individually and as a group certainly seem to behave as if they see things that way. When my wife and I were engaged, there was a shower thrown by some friends of her parents. Her parents move among a number of people who have money (doctors and such mostly, not the truly wealthy). It wasn’t until later I realized these people aren’t independently wealthy, but that was the most wealth I had ever experienced in my life at that point. I didn’t grow up poor (we always had food with maybe a couple exceptions where things were very thin; had clothes and the things one needs to survive) but my idea of rich at the time closely matched the houses/cars/clothes these people had.

Anyway, it seemed every one they (her parents) knew was a doctor or had a kid who was going to be a doctor. It all just seemed so pretentious to me. In retrospect most of these kids probably aren’t even doctors now… So, we were standing around at this shower and there were several couples and me and my (now) wife and her parents. And every one of those couple were going around the circle talking about how their bill or susie was starting college at so-and-so place and was planning on medical school (or in the case of the girls planning on marrying a med student/doctor). So when it got to my inlaws, they talked about how my wife was a paramedic and had plans of going to medical school after college. At that time it was something she was considering.

When they all looked at me and asked what I had planned, I blurted out that I was a garbage man. I just smiled and said “I’m a garbage man” and closed my mouth and smiled like I was expecting all the discussion that follows about how great it is to be X (where “X” usually = being a doctor in this crowd). My wife immediately hit me and laughed, but there was a moment before she did that in which everyone was just literally staring. They had no idea what to say. I’m not sure now if it was because they immediately saw the insult or if it was because they just couldn’t comprehend the idea of being a regular guy with a regular job.

In retrospect, it was a jerky thing to do. These people had invited us into their lives and offered us good wishes and gifts which would help to give us a good start in life. I do regret it. I wonder though if these people truly measure themselves (and their kids and such) by how much money they make or how prestigious of a career they have?

One other quick story about rich people:

My sister-in-law dated a guy in high-school who’s parents were very wealthy. His mom didn’t work but his dad made a ton of money over the years, something havnig to do with places for retarded people. The mom came from money but his dad came from a background probably more like mine. As I understand it, probably a lot of his drive to succeed came from giving her a life up to the standard that she was used to. This guy was very wealthy at the point that I met him (and had worked his ass off to earn it), he easily had more wealth than any of the other people I met through my wife’s parents/family.

So the first time I met my SIL’s boyfriend’s parents… We pull up to this HUGE house. It was on a lake in a very pricey area. I mean, obvious wealth. So we go in, and his parents are sitting there. She has a glass of wine. And he was holding a styrofoam cup. We tour around the house (it was newly built so they were still in the “show” stage) before going out to dinner. Before we leave, the dad goes to re-fill his styrofoam cup with, of all things, Jim Beam. I mean, here is this guy who makes tons of money in a multi-million dollar house, drinking 5 dollar whiskey.

We had a nice time at dinner. This local place where they served crab legs and plenty of beer. As we were leaving I was going to pay for me and my wife (we were actually still dating at the time). He told me he would get it and I responded that I could pay my own way. He said “I know you can” and still insisted he would take care of it. There was this moment I felt like he really understood me like we were similar in a way. This was not something I expected from a “rich guy”. Looking back, I think that guy was more down to earth than most anyone I have known before or since. His son was a good guy, but there is no way he will be able (in my opinion of course, I could be wrong) to build the same kind of character starting off with so much.

We went back to the big house and played pool all night. Me having a few more beers and him drinking his 5 dollar whiskey. The dad and the guy who owned the restaurant proceeded to give me and the son a very expensive lesson about betting on pool. I was probably 19-20 at the time and sure as hell didn’t have the money to be down a hundred bucks. We played the last game double or nothing and they pretty much just threw the game. Probably one of the 2-3 most decent people I have ever met.

If just one regular participant on this blog were to imply or suggest he came from blue blood, I’d be the first to call BS. Blue bloods don’t talk, shuck or jive the stuff we do here. There is no reason or need for the truly wealthy to hang on a housing blog. And no….. a couple million isn’t wealthy.

RE: a couple million isn’t wealthy.

From all the scuttlebutt I’m hearing from my mid-50 age social circles, I’m beginning to think real wealth is not being diagnosed with pancreatic cancer @ 48.

Man, I can’t believe the evolving large number of severe illness out there.

Related to this idea of wealth = self worth is the “Protestant work ethic,” the idea of work being in and of itself a worthy end. I knew many people growing up and many more as an adult who take some kind of perverse satisfaction in how hard they work. The “work martyr” who devotes their entire being to the job. Of course these people are the WORST kind of co-workers to have.

Growing up with parents who ran their own small business got this work ethic thing driven home hard and long. Of course if you are working for yourself the harder you work, the more you gain, but if you just have a typical job working for the man, not so much.

I’ve largely come to completely abandon this Protestant Work Ethic nonsense. There is nothing intrinsically “worthy” about hard work. Work is only meaningful if it is being done to further your reaching a goal of some kind - be it financial security, saving x amount for a certain purchase, learning a new skill, etc. Work for the sake of work is stupid and pointless.

Digging a hole and filling it back in would be hard work, but it would be pointless labor and would not make the worker more noble than someone who lounged around and read a book while the “hard worker” threw dirt around.

I’m Episcopal, I’m afraid that I can’t agree with your assertion that being wealthy is how you know you are in God’s favor. I agree that old line religions like mine do have a large percentage of the older, well established families who have probably been in the country since colonial times (mine have been here since 1632). However, the overwelming majority of parishioners in the churches I’ve attended are by no means rich. Most are middle class with a good smattering of upper class types. I’ve only known 4-5 truly wealthy people. As to the assertion that wealth = God’s favor, I have to wave the flag. Perhaps you are describing the concept of “good stewardship” - the idea that God has given you what you have and that you must make the best use of it because to do otherwise would be a slight to Him. Good management of whatever resources you are blessed with hardly qualifies as a sign of heavenly favoritism IMHO.

I didn’t say I believed this stuff, only that these are common beliefs in my neighborhood (where nearly EVERYONE is Episcopalian, Methodist, or Presbyterian). I’ve listened to their ministers along with them, and I find it all astounding. But, if one is raised to think one has to have all these trappings to prove ones success in life, one is pretty much trapped by them. Enlightened self-interest is a well-known philosophy, but regarded with horror in orthodox sects (Roman Catholic, Eastern Orthodox, etc.).

The priest at an Episcopal church in South Tampa was showing me his church’s statue of the Virgin Mary. It was beautiful, but I didn’t quite know what to say, since I’m not interested in statues, religious or otherwise. It was carved from wood, and looked about four hundred years old (probably not). I said, “Well, at least it isn’t plater of Paris” (a joke), and he replied: “That’s one thing about the Roman Church: They have no ecclesiastical taste.”

That told me more than I wanted to know about his denomination. The statue, of course, had originally come from a Roman Catholic church, as had every building and old possession of the Church of England, his parent denomination.

I must venture to say that it doesn’t so much sound as if your neighbors are devoted to their religious doctrines so much as to the god of material wealth (which realistically is a fast growing religion unto itself-shame on us). These people are everywhere and they are equally obnoxious regardless of their professed religions.

The split between the RC and Henry was incredibly bitter and bloodsoaked. Yet, it happened and that’s that. My family has been Anglican (and now Episcopal) since inception, yet we don’t have any ill feelings towards Catholics. It would be silly. We do joke that we have the best of all worlds in our sect - we don’t have the guilt of the Catholics or the restrictions of the Baptists!

It sounds as if the priest was making a joke. It certainly sounds like it… Perhaps you could give him the benefit of the doubt?

http://truth-makes-freedom.blogspot.com/

good blog about emotional abuse and manipulation in the church, esp. the prosperity cult

She sounds like a very angry person. Hopefully her blog is effective at relieving some of that anger, writing really is therapy. I’m sorry that some people have this kind of experience with religion. If I did, I’d probably be rethinking my faith as well. Happily I haven’t… Thank God.

By the way, on another board I’ve warned people wondering about moving to Florida that they are not prepared for the audacity of criminals. They simply have no clue; like the Easter shootout last year. There were some 50 cops already there and they STILL shot at each other.

There are no safe areas and there are no safe times. Most midwesterners don’t understand this and the yanks think they can handle it with a “tough” attitude. Think again…

Muggy (or any other Pinellas residents),
How is central Clearwater holding up? I used to live off of Keene Road about a mile south of Gulf to Bay Blvd, not too far from Clearwater H.S.
I’m curious to see how the old neighborhood is holding up.
Thanks.

Oh YEAH? Bring ‘em on!

I once made a remark on another blog about how Disneyland seems to be overrun with the the tattoo and cammie crowd on weekends. Boy, did I ever get an earful because of that. I was instructed that people with obscene tattoos and who drop f-bombs left and right are perfectly decent people.

That’ll teach you to go out with other blogs. You blog around, you’ll get germs, just like your mom used to say.

In Colorado,

Ya, Right!

I was in the Marine Corps, I refused to get tattoos. I may wrong, however, I personally believe that its unbecoming to mark your body!

4 years, US Army, no tattoos but very tempted to get the obligatory FTA ink.

Exeter, what is “FTA ink”?

f%ck the army tattoo.

“F***K the Army” FTA, or “Frankfurt Terminal Airlines” since “FTA” was proscribed in Army Europe in the late 70’s - early 80’s.

“FTA” = F**k the Army

Bailed out, apologized for and God knows how many businesses he’s bankrupted and mismanaged. (Aside from the US economy that is)

I said nothing about who starts wars. Thanks for the straw man characterization of my position (an easy mistake to make for those without a college degree…).

PB, I wasn’t pointing this at you. I was pointing it at how many times on the HBB that the Republicans are the war mongers and the Dems are the party of peace. Sorry about the confusion. I bow to your many degrees.

“(an easy mistake to make for those without a college degree…)”

And he returns a crushing blow below the belt!

Stucco, I was being sarcastic. Damn. I need to put one of those /sarcasm tags like others.

John F. Kennedy and Lyndon B. Johnson were democrats.

Kennedy defeated Nixon in the 1960 Presidential election.
Johnson defeated Barry Goldwater by a landslide in the 1964 election.

NYCityBoy — I have way too much education for my own good. I apologize for the slam. If you had not disclosed you don’t have a college degree yesterday, I would have assumed you have at least a Master’s Degree (no joking). I hope you have the opportunity to pick up a sheep’s skin at some point if that means something to you, but it would merely be a formality…

My story about not having a degree is a long and boring one so I won’t tell it. I was probably at college long enough to get one but I kept taking classes that I liked, not classes that would get me a degree. I do have a tech school degree.

“And if you believe this, I have some swamp land in Florida I would like to sell you.”

Bubba, all of the men on that list were Democrats. My sarcastic point was that it is hard to call the Democratic Party the party of peace, as many people do.

One of my favorite stories (told to me by a friend who also has too much education) is that of the rabbi’s assistant.

Abridged version:

- The rabbi lets his assistant go because the assistant is illiterate.

- Rabbi’s assistant starts a successful business and becomes wealthy.

- A banker offers the (former) rabbi’s assistant a loan to expand his business.

- The rabbi’s assistant refuses the loan because he cannot read the paperwork (this story is obviously set before the subprime lending era).

- The banker says: “You are a great success in business and life; just think of what you could have done if you had a proper education.”

- Response: “I would still be the rabbi’s assistant.”

‘If you had not disclosed you don’t have a college degree yesterday, I would have assumed you have at least a Master’s Degree (no joking). I hope you have the opportunity to pick up a sheep’s skin at some point if that means something to you, but it would merely be a formality…’

I don’t think NYCityboy should worry his pretty little head about getting sheepskins, as his brain seems to be working just fine and his observations are astute and all that other good brain stuff. I know quite a few complete and glorious idjits with master’s degrees, and quite a few very intelligent and canny people who either didn’t go or didn’t finish college. Now, if NYCity wants to learn for the joy of it, then he may as well get a marker for the time, sure. Then he can have one of them cute little flat square hat thingies.

“Sorry about the confusion.”

Don’t worry about it — I have on my stupid hat today.

I am sorry to make this comment, however, the seeds of the Vietnam war began in the IKE administration with the assistance of our CIA/State Department under the Dulles brothers.

If I understand my history correctly, and it was,it was a long time ago, discussed extensively in the 1960’s during the Fulbright Hearings.

If I recall correctly, the US became involved in VN after the French defeat in 1954.

Lost, I’m pretty sure it was Truman that began the involvement in Vietnam on behalf of the French when the communist boogeyman was wheeled out to scare the public, post WW2.

exeter,

You may be correct, in that the French refused to give up Indo-China after WW2, and the US’s involvement may have been support of the French upto their defeat in 1954, however, other than spook involvement, I do not believe the US became actively iinvolved until after 1954, when the French left.

BTW, after the end of WW2, there was suppose to be an election in Vietnam, however first the French and then the US reneged on the election. End result, Vietnam War.

Just what I remembe!

Hey NYCityBoy, send me a bottle of that Jack D. stuff you keep talking about and I’ll send you my degree.

Only stuff you can get out here has been opened by the Liquor Commission, diluted, then resealed. At least it tastes like that.

I think my degree might be worth a bottle of the good stuff, not sure, but I could throw a second one or an honorary one or an internet one or one from the illegals’ printshop down by the park if need be…

(please note that I bring up RP simply because a coworker of mine uttered those exact words a while back. Not trying to make any statement about specific politicians or candidates)

“There are still some true “conservative” republicans out there, and they’re fighting to regain control of the party, at least that’s what I see here in the Austin area.”

If they attend church regularly they are unfit for representative office.

If they attend church regularly they are unfit for representative office.

I was speaking of fiscal conservatives, rather than implying any religions beliefs. However, I’m not sure I agree with your statement. I’m not a religious person, but I don’t see anything wrong with one who is religious holding public office. However, if their religion dictates their policy (rather than the best interest of the people they represent), I certainly take issue with that.

I can’t say that I’ve noticed that, but I’ve not been looking either. I hope you’re not making an implication towards me with this comment….

As opposed to progressive marxists masquerading as centrist democrats. Boy, what a choice we have.

NYCityBoy,
ummm, if I remember correctly, you’re from Minnesota aren’t you?

Your point being?

OOOwww Yaa Sure You Betcha!

We’ve got prop. 13 in Kalifornia. 1% annual increase max. if I’m not mistaken.

This guy’s a f*ucking moron.

Give EVERYBODY on the planet 10 million $ today.

Come back in 3 years. The ones who were broke before the windfall will be broke again.

You can’t fix stupid.

Mike

You’re not. My mom pays more for the gardner ($100/mo) than for property taxes.

You got the wrong professor, bud. I mainly post here because I enjoy questioning others’ unreasonable beliefs, such as that gold prices always go up.

GS, I’m a lurker for the most part, but a regular reader. I don’t think I’ve seen anyone ever say that “gold prices always go up.” I don’t know that I’ve seen any indication that anyone believes that (though I suppose you could argue that belief is embedded in the idea that gold is a permanent store of value).

From what I can see, most people holding/buying/advocating gold think the current conditions warrant it. I’ve not heard any statements anywhere near the “common wisdom” that housing always goes up - in the long term. Either it’s insurance against the sh*t really hitting the fan, or they don’t have faith in fiat currency and think that central banks will try to inflate their way out of the current mess.

I’m not sure how you see any of these beliefs as “unreasonable”?

Disclaimer: I do personally own some precious metals, but certainly don’t have anywhere near the conviction that aladinsane does.

Very few Americans have seen the ravages of hyper-inflation, and thus have no experience in how to best prepare for it’s arrival.

Their bad.

Best prepare for hyper-inflation? Wouldn’t the preparation be buying expensive assets…. like houses?

Black market saving Zimbabwean economy
devalued currency, ineffective government programs escalate illegal trade
Shashank Bengali, MCT
Issue date: 4/2/08

“…
With inflation estimated at 200,000 percent - easily the highest in the world - Zimbabwe’s currency is barely worth the paper it’s printed on. (The largest Zimbabwean note, 10 million dollars, can’t buy more than a couple of sodas.) Foreign currency runs this economy now, mainly the U.S. dollar and the South African rand, nearly all of it traded on the black market….”
http://www.drurymirror.com
http://tinyurl.com/638p2k

Somebody wants dollars.

“Wouldn’t the preparation be buying expensive assets…. like houses?”

Best argument yet in support of the ‘buy now or get priced out forever’ used home people sales pitch…

Imagine something along the lines of Argentina 2001-2002…

Their currency lost 2/3rds of it’s value in a matter of months, against other currencies.

Everything we buy that is imported, would suddenly be 3x as expensive.

Houses being priced in Dollars, gives you no advantage in hyper-inflationary times…

You would have a great advantage however, if your wealth is in the right strong currency.

One can buy houses for 1/3rd of their current valuation.

And i’m talking mild hyper-inflation, here.

See Zimbabwe currently, (Z$500,000 for one bullet) for an education on the worst case-scenario…

Don’t worry about it. After all we are more advanced now. We have great technology and haven’t had a real wide spread calamity since the Great Depression. Of course that is also ignoring the reoccurring themes and history that have happened to mankind since the beginning of man. There is a reason for the stories and parables such “The Ant and the Grasshopper”. Besides, “they’d” never let that happen to us. Would they?

“Their currency lost 2/3rds of it’s value in a matter of months, against other currencies.”

Are you suggesting that Argentina’s currency had world reserve currency status at the time, or that this is irrelevant?

I think the point here is US Banks were the ones who took the losses on the South American debt bubble. Thats why 28% rates apply to unsecured credit cards in America.

We the sheeple are the opes picking up that tab.

Go to http://www.google.org and check out what they are doing to help prevent a peak oil nightmare. RE

I don’t claim to know much, but I do think I can pose a good question. That’s all I have to offer here. If you don’t like it, please ignore my posts from now on.

Yes, I believe that (probably unconventional) explosives were required to demolish the 47 massive steel columns at the core of both WTC 1 and 2 and to produce the molten steel that flowed like lava for some time after the buildings fell.
But don’t believe me, believe the hundreds of emergency workers who reported hearing explosions:
Twin Towers Demolished for Effect
Cui Bono?

April 29, 2007
“EMERYVILLE, California (Reuters) - A stretch of vital highway for San Francisco Bay-area commuters collapsed on Sunday after a gas tanker truck crashed and ignited flames that shot more than 200 feet high, officials said.

Flames on a lower ramp melted the upper deck of a highway on the Oakland/Emeryville side leading to the double-decker Bay Bridge that connects the heavily populated East Bay to San Francisco. As the steel structure weakened, a concrete slab fell onto the ramp below.” (end)

Was that a government plot, too? I don’t think so.

On February 26, 1993, a car bomb was exploded below Tower One of the World Trade Center. (end)

Another government plot? No. Of course not.

December 17, 2001
“Ressam told U.S. prosecutors he was planning to blow up the Los Angeles airport as part of a broader plot to wreak havoc in the United States during the millennium celebrations. He had picked it as a target because he had flown through Los Angeles on a return flight from Pakistan. “An airport is sensitive politically and economically,” the terrorist told a New York court last July.” (end)

What else do you need to know? Got pattern? I don’t understand the desperate mindset of conspiracy theorists driven to come up with complex theories to explain these events that are the result of clearly stated hostility towards the West? There’s a strong motive in the conspiracy theorists-that’s obvious-but it has nothing to do with forensics.

Story #1 shows that steel melts. No ideology required.

lol

If my memory serves me correctly bubbleviewer has expressed his belief, on this blog, that WTC7 was blown up from within. I may be mistaken but I don’t think so. I apologize if my memory is wrong.

Kirisdad - I would argue the reason for them deserting is irrelevant. It still left the people in a situation where they had to defend themselves (one could argue that’s always the situation, of course).

not a gator - Be careful of the assumptions you make. I drive a 10 year old car that was paid off months after I bought it - used, with 62k miles on it. I could buy a car tomorrow with $100 bills as well. You may disagree that carrying collision insurance makes sense (yes, at some point self-insuring is more prudent financially), but your assumptions about me are way off base.

J

The end timers of the extreme religious right made their impact I see.

exeter - what exactly is your point, and who is it directed at? I don’t see where religion (or politics) comes into play here?

Apparently you just have a thing for making assumptions and attacking people. Nice habit…

Mr. Geithner makes about $200K per year a lot less than what a firm trader makes in bonus. Mr. Geithner is currently sacrificing pay for power.

It is rarely wise to take any Federal Reserve pronouncements at face value. “We favor a strong dollar.” lol

Geithner before congress struck me as a frat boy BSing a prof.

I think he’s making some money on the side somehow (”lucky” trades). Dude like that can’t “live” on $200K/year.

“Mr. Geithner is currently sacrificing pay for power.”

That’s the basic deal in top posts at the Fed.

‘I think he’s making some money on the side somehow (”lucky” trades).’

Aren’t you confusing Mr. Geithner with Ms. HC?