Weekend Topic Suggestions
Please post your ideas for weekend topics here!
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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Name:Ben Jones
Location:Northern Arizona, United States
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Mortgage Brokers Are Liars:
http://www.charlotteobserver.com/2011/05/13/2292660/mortgage-fraud-list-may-grow-to.html
“Too Big To Fail” goes head to head with “Jersey Shore”:
http://www.charlotteobserver.com/2011/05/13/2292494/too-big-to-fail-coming-to-hbo.html
Crony capitalism as it works in China. Company has joint venture in China, division of joint venture gets “transferred” to joint venture’s CEO’s other company without the parent company’s knowledge. I’m not surprised that it happened, I’m surprised by the audacity with which it did.
http://blogs.barrons.com/techtraderdaily/2011/05/13/yahoo-drops-5-on-alipay-imbroglio/?mod=yahoobarrons
Thank you, yen, for a most interesting and informative post.
We are looking at cultural differences that influence the way business is done. I don’t think you can expect businesses in other countries to just go ahead and follow the “American Way”. It’s not realistic. Much as I wanted Rajaratnam to go down, I can feel some sympathy for him, in that he was just doing business in the way he knew how, a way accepted in his culture.
And I recently read an article on how the average Chinese person reacts to every day disasters, like traffic accidents, arrests, etc. One of the lessons I took away from that article is that being a “Good Samaritan” in China can be a dangerous proposition.
I think we have to be realistic and confront the fact that in most developing and emerging economies, “being decent”, as we understand it in the US, means certain death for many people. It’s really easy to pass judgment (and I certainly have) when you’ve got a full stomach and decent shelter.
The law of the jungle is the real law in many parts of the world, for a reason.
But that doesn’t mean we should flood this country with millions who live by that law.
“I can feel some sympathy for him, in that he was just doing business in the way he knew how, a way accepted in his culture.”
If he had simply been doing things the way he knew from his culture, then he wouldn’t have been planning talking to a co-worker about how to create a false e-mail trail to cover up the fact that they were about to make a purchase based on insider information. The cultural sympathy thing ends when you know that you are doing something illegal and are trying to hide the illegality.
Thank you, polly. Last time I checked, there wasn’t a culture on this planet that favored his behavior.
The weekend topic I would like to discuss is: the US is in a stagflationary depression.
For the purpose of this discussion, never mind the NBER’s definitions determined by calendar quarters of “real” GDP growth/contraction. The “official” calculation of CPI and its components should be discounted as well, consider the article on Marketwatch today stating that “food-at-home” costs (excludes takeout and restaurant purchases) have increased only 3.9% over the past 12 months.
If what followed the 2001 recession was called the “jobless recovery,” what we are living in now should be called the “recoveryless recovery.”
“jobless recovery,”
How about the “joyless recovery”? Says it all for me.
Is “recovery” dependent upon housing? No. “Recovery” is dependent upon jobs, increases in income, confidence, etc. Housing then follows. It is my opinion that the housing mania was just a symptom of an already rotten financial system.
I make this bold prediction: there will be NO recovery until the banking system is overhauled in favor of the people, and made accountable to the people. NO recovery until the Fed is dissolved and has no more sway over the people. NO recovery until the current politicians at all levels are replaced by those who are willing to be responsible to the people. NO recovery until illegals are run out of the country with their families. NO recovery until we repudiate the debt with China, or do our own manufacturing and producing. NO recovery until we unhook from the globalist system. NO recovery until the corps are made accountable to their customers, only in doing so can they really benefit shareholders. NO recovery until any and every trader and bankster who manipulated the system and profited off the misery of others is properly keelhauled. (an old fashioned form of waterboarding).
Bottom line, however, is that there will be NO recovery until the people are confident in their institutions and in their leaders and government. Believe it. I’ve said this from time to time here on the blog: a fiat system depends upon confidence, and that confidence is waning fast.
BTW, don’t try to find any logic in the thought processes of most of the members of CONgress, the Administration or SCOTUS. This is difficult to swallow, but you have to accept that most of them are out and out insane. Washington is an insane asylum. I’m not kidding. Most of these people are not fit for decent company.
There should be a moat around Washington, filled with gators.
Is “recovery” dependent upon housing? No. “Recovery” is dependent upon jobs, increases in income, confidence, etc. Housing then follows. It is my opinion that the housing mania was just a symptom of an already rotten financial system.
This is so common sense that I think all of us here agree, from banana to exeter. Yet its not “obvious” to the PTB, meaning they are either idiots or have an agenda.
This is so common sense that I think all of us here agree, from banana to exeter.
I like that. If I ever have a chance to use it in the future I’ll just use “b2e” for short.
Maybe banana to X-GSfixer. I think that’s everyone.
PS I agree, it makes a lot of sense.
Hey… im far to the left of x-gs.
Palmy it’s a nice sentiment, but it’s not going to happen. At this point the only thing to do is pack away money until I can buy a semi-permanent abode, and then pack away “stuff” in the vein of AK-47 and canned peas and hope the electricity doesn’t go out. I heard that small bottles of booze make good currency.
That Ashton Kutcher is replacing Charlie Sheen on “Two and a half men” matters more in the minds of 90% of the sheeple than any single item in your wish-list above.
The sheeple know that something has gone terribly wrong in this country and/or in their lives, but once safely ensconced upon couch with remote and slipping into high-fructose-corn-syrup coma, all is well…
Maybe the sheeple subconciously appreciate that, unlike banks and government, the entertainment industry doesn’t tolerate moral hazard. Charlie Sheen thought he was too big to fail, and guess what? He wasn’t!
For the people who did not see the block print (easily readable, as opposed to “handwriting”) on the wall, yes, you are depressed.
How about, “What would it take to actually have the fraud of the housing bubble prosecuted to the full extent of the law?” Elliot Spitzer seems to have some ideas on the subject, as does Matt T. (Talibani?) of Rolling Stone.
The citizens of this country all seem outraged at the financial fraud perpetrated on them… Also, what would it take to rein in the Fed and prevent the massive loans to foreign banks at zero interest, let alone selected “winners” in our at home market.
“Talibani?”
Weekend discussion
Are we in a double dip recession or is it just housing heading down again ?
Look at all the unresolved debt issues
Since another “free market” mortgage agency with government guarantees is looming how about a name? There are plenty of hillbilly names that haven’t been used, so post ‘yer ideas!
Housing
Entreprenuerial
Market
Program
Committee to
Refinance
Attached
Product
Guaranteed
Affordable
Living
Trust
Market
Operated and
Zestimated
Investment in
Lofts
Organization
Built
Every
Day
By
Union
Goons
Hey, watch it there, buddy! You just insulted bedbugs. And Angelo’s got a major case of hurt feelings too.
My weekend topic suggestion is the role cash is playing in this Great Contraction. We’ve seen how Koch has bought influence in Florida State University, so where else is cash throwing its weight around?
Giliad Sciences (GILD) is throwing several million dollars to Yale for drug research and in return will get first dibs on any products that are brought into being. Is this a bad thing?
Personally (in the case of Giliad) I don’t think it is because:
1. Yale gets a benifit, as do the medical students at yale.
2. Giliad (a top rated company, IMO) gets a benifit
3. And because of 1 and 2 above the people who now suffer chronic medical conditions will get a benifit somewhere down the line as drug research moves forward.