The Housing Bubble

That was mean spirited, IMO.

Are you freakin’ kidding me? If people were more “mean-spirited” about these pigmen and liars, we wouldn’t be where we are now.

You’re sick. Jamie Dimon has suffered enough already when he had his 52nd birthday dinner celebration interrupted by Bear Stearns imploding. The HBB should pool some money to send him flowers and oversized stuffed animals.

I’m sick? Well, in for a penny, in for a pound. Here’s hoping Jamie Dimon gets the medical treatment equivalent of what he dealt to others.

Here’s hoping Jamie Dimon gets the medical treatment equivalent of what he dealt to others.

I hope he gets treatment equivalent to Obamacare’s bronze plan.

I hope he gets treatment equivalent to Obamacare’s bronze plan.

You mean an HD plan? Isn’t that what most people already had before Obamacare?

Bronze plans are worthless. When I tell my European relatives about how HD plans work, they’re aghast. They can’t believe how much we actually pay for those useless health plans.

Bronze plans are worthless.

Yes. I think that the bronze plan is like the scene in Idiocracy where the person is being processed for medical care and he needs to put one “probe” in his mouth and one probe in his butt and the technician makes a mistake on which one is which. The butt probe is the bronze plan and Jamie does deserve that level of care since the bubble he helped create and the subsequent recession has caused millions to lose their employer based health insurance.

Why should people wish well for a man who ruined millions of lives? If Charles Manson got cancer, nobody would be wishing him well, yet Jamie Dimon gets cancer and people on blogs and market websites, etc., are wishing him well? He only, you know, contributed to the biggest economic meltdown in the history of the world, much of it by the way of FRAUD. F**k Jamie Dimon.

I just can’t stop wondering about the origins of Michael Douglas’s throat cancer; could it also explain Jamie Dimon’s case?

Two years ago I had friends telling me their mortgage companies were continually asking them if they wanted a biweekly mortgage payment plan to help pay off their mortgage. This past month they are getting bombarded with ‘refinance and take out you equity so you can pay bills, vacation, buy a new car, etc’.
So this begs the question of when will bubble two pop? I’m sure that the slide will be faster than the first!

And it is probably true that those posters who regularly reply to their own posts are mentally unstable

Stability is overrated.

His definition of financial sophistication (for the retail participant) means funneling one’s wealth to Wall Street.

“C’mon, everyone’s doing it, don’t be such a square!”

It means something quite different for the FIRE infrastructure where sophistication means finding ways to receive that wealth.

“When I use a word,” Humpty Dumpty said, in rather a scornful tone, “it means just what I choose it to mean—neither more nor less.” — Lewis Carroll, Through the Looking Glass

So this begs the question of when will bubble two pop? I’m sure that the slide will be faster than the first!”

when the Youtube video of “how do you like your love” by Andrea true get posted again on this blog , sure sign of a top.

worked last time

More more more dont stop till you get enough…..my my my boogie shoes

Very underrated band of the 80’s

https://www.youtube.com/watch?v=atJD2AtQ1TQ

Loved the song; thanks for posting. Also liked this gem, also by Kid Creole (cheesiest video ever).

https://www.youtube.com/watch?v=dNrdguuXTF8

I always loved this one, a gem from those days:

Endicott - Kid Creole and the Coconuts

“I’ll never be, I’ll never be, like Endicott - no Endicott in me.”

cool……people here have good taste in music…

David Lereah, like the other architects of the bubble, cried all the way to the bank. They are The Untouchables, as PBS’s Frontline correctly identified them, thanks to federal, state and local government policy.

And set up millions of fools like bowling pins that came after, 2006-2014

And what did he pay? $15 a sq ft? Thats right around what a used house is worth….. right cactus?

So maybe HA helped Ben get accurate estimates on how much it would cost to fix a 15 dollar a square foot trashed home to make it ready to rent out..

Explains a few things

It doesn’t need any fixing at $15/sq.

“If anyone is laughing their butts off, it’s them.”

Ah, yes, the assured triumph of the pigmen progeny meme.

Things change. Even for them.

Ah, yes, the assured triumph of the pigmen progeny meme.

Things change. Even for them.

I’m sure their Cayman Islands based trust funds have enough zeros to the right to last a few lifetimes, and that their weekly allowance is more than what the median American makes in a year.

We’re not talking about the town douchebag whose dad owns the Ford dealership.

“their weekly allowance”

See also: The Rich Kids of Snapchat

http://www.businessinsider.com/rich-kids-of-snapchat-2014-7

From auto repairs to law to education to housing….. I wouldn’t take your advice even if I were indemnified against the losses.

I think most poor people who receive government benefits think the money is just printed up by the government, it’s not really taken from someone else. To some extent theyŕe correct in this belief.

People calling for wealth redistribution are usually from the upper middle class bourgeoisie. This is also the group that creates and leads revolutions, not the poor. Che, Fidel, Lenin, Trotsky, Bin Laden, all from upper middle class or higher families. The Iranian revolution was a middle class college student uprising, as were many of the Arab Spring uprisings, like Egypt and Syria. A stymied middle class can be a dangerous thing. The poor are easier to deal with, theyŕe used to getting the shaft.

The Founding Fathers were likewise mostly from the bourgeoisie, not a bunch of poor down-and-out types.

That’s correct, Oddfellow. The French Revolution was also led by rich people. From what I recall, it was fairly prosperous people who made South Korea more democratic a few decades ago.

You’re not a member of the club.

Club members have direct ownership stake in things. Controlling interest, management power, a say in how they are regulated and who audits the company, who prepares their shelf offerings, how the corp is structured for tax reasons, etc.

People who are in the club do not work for a salary, especially not a salary decided by anyone other than themselves.

1. You don’t know my net worth.

You’ve let it slip here before; anyone who cared to read closely has a fairly good idea.

Bill, you’re not a member of the club. Whatever the wealth, you simply don’t have the attitude for it.

“People who are in the club do not work for a salary, especially not a salary decided by anyone other than themselves.”

More bull poop.

How can you tell by looking at a person whether they have a salary or not? Good grief. No logic on HBB

“You’ve let it slip here before; anyone who cared to read closely has a fairly good idea.”

More bull poop.

My net worth changes daily. It is even much higher now than it was January 1 of this year.

Face it. You are all commies. Anyone who hates ANY wealthy cannot agree among themselves at what net worth “wealthy is.” Liberace’s definition of not on salary is not the same as the next person. Stop your excuses and face it.

Now you’re just proving that you’re not a member of the club. If you have to argue about the definition of “wealthy,” then you are not wealthy enough. You want to be in that club, but you’re not, and deep down you know you can’t buy your way in, and deep down you know that you’re not that type of people person anyway, and you’re jealous, and you’re giving yourself away with the bitter posts.

Go swim some laps and have some oatmeal…. alone.

“You are all commies”

So touchy, Bill.

I have some extended family that married into a 19th century Chicago industrial fortune (Social Register, Onwentsia Golf Club, et cetera). I have more respect that you earned your pile than that they just happened to be be born into it.

Just keep WINNING and ignore the haterz.

Just keep WINNING and ignore the haterz.

And we are due to PM prices, thanks Obama.

Bill, you are right about one thing: some members of the club do have a salary set by others. By the board of directors of the company they lead. OK?

But you still are not, and never will be, in the Club.

1. You don’t know my net worth.

I know you can’t afford to buy a Hawaiian Island, your own Gulfstream, a $20M mansion in Aspen or an NBA franchise.

You’re not in the club. You’re “little people” and you know it, hence your obsession with personal guns to protect yourself and your property.

Way back when, I heard the chief counsel of Goldman Sachs say how much money he thought you needed to be able to do whatever you wanted. That isn’t even necessarily “in the club,” but it it getting close. He thought that income (partnership draw only, income from investments is for reinvesting, not living expenses) of $10 million a year might be enough. And that was 20 years ago.

Just keep WINNING and ignore the haterz.

No hating, just saying that Bill, who does a good job of keeping his wealth hidden, won’t be a target for the pitchfork and torches crowd. They’ll be ransacking the mansions, not the apartment complex where Bill lives.

You don’t know my net worth.

Haven’t you posted what you claim to be your net worth a few times? Some time around six or nine months ago you wrote that it was $1.732 million. Then, a few months later, it was $1.8 million.

Either we know or you were dishonset.

But you don’t know my net worth today. .

Good for you Bill! You go and you tell ‘em that you’re now worth $2.1 million instead of $1.8 million. They’ll let you in yet!

Just remember that the club doesn’t maintain their own arsenal. They have people for that.

Exactly, oxide, how much could it have increased in a few months.

It’s not an amount of money, per se, it’s ability to control assets and resources on a direct level. It’s the ability to dictate your terms in a meaningful way. It also implies the type of connections and knowledge to be able to get INSIDER deals on things, to get in on the ground level, etc. People who have this kind of control are vultures, they have an aggressive/dominant personality, they’re not working for anyone else after a certain point in life. They don’t know WTF a manager or supervisor or boss is. They know how to talk to the people who actually make big decisions.

People who have this kind of control are vultures, they have an aggressive/dominant personality

You forget that some of them merely inherited their wealth. Some of those people are actually quite calm and relaxed.

Speaking as a salary serf who has lived amongst The Anointed: the thing I noticed most is their utter composure. The lack of fear. In truth, the failure to manipulate. I guess I was never worth manipulating.

Startling - by way of contrast - to the circumlocutions and inward-focused one upsmanship moves I witness every day in the tier right underneath the agency heads. (I personally do not get to see agency heads, of course. The Ones who do go see them feel no obligation to report back.) The maneuverings are typical lower middle class moves. The ones who are trying to get there, and count their little parries as numbers on the scoreboard. They do not understand that they are not anywhere near the correct stadium.

The real rich, who don’t need to ask permission from anybody to do anything - they really don’t give a d*mn what you think. If it pleases them to converse, they will do so, and they will pursue the course of action they want to pursue. We are not owed explanations.

Try this experiment sometime. When in the company of some manipulator, don’t take the hook. Every manipulation is, at its bottom, an attempt to win this round through fear. Assume the composure you might imagine ??Warren Buffett?? has. IT FREAKS THEM OUT - they’re always afraid of losing their jobs, so they think everybody else is as well!

My alibi is, I’m looking at what’s best for the business, and I’m driven by facts. So, I have no fear.

But you don’t know my net worth today. .

Who cares what it is _precisely_ on any given day? We know a range that is close enough for government work.

And don’t take me as a hater just because I contradicted you—I don’t reveal my net worth here because I like my privacy, but I respect the effort both to earn and to safe a significant portion of your earnings.

“You’re not a member of the club.”

As Spring Break approached one year when I was at CalPoly, SLO someone caught a photo of a youthful “polly-dolly” in her ratty denim bibs at the airport climbing aboard a Gulfstream jet with those upturned wingtips.

It fell because the rich bought the poor citizens’ votes until they decided to just lose the pretense of a democracy. The Roman Empire fell when even the job of defending the empire was being done by non-citizens.

I think the reason people in the US won’t grab pitchforks anytime soon is, the top .01% has succeeded in portraying the idea that it’s a 2-team contest and that the 2 teams should be mad at each other. The idea that the 100k earner should look down on the poor person, or the idea that the poor person should be jealous of his/her manager or McDonalds franchise owner, not the ACTUAL people who run the big show.

You make some good points here. One simple way to avoid the two team contest issue is to have people think more in terms of issues than parties or candidates.

I also thought of your point when the OWS people started talking about the 1% vs. the 99%. In order for the 99% to all work together, people making zero to $350k all have to think of themselves as being in the same boat.

OWS and the Tea Party are both, in their own ways, middle class movements. That’s why they must be kept in opposition to each other. The PTB’s greatest fear is the middle class united against them.

Payable by anyone that has money. Detroit was willing to tax anyone that would stay in the community long enough.

I disagree the differentiation is the lack of English skills……90% of inmates speak a foreign language call Ebonics. That’s why they almost always come back, there are very few job that require you to speak that language.

My plan is: as soon as you can read the NY Times and discus the stories in depth, you can apply for parole. If that takes 5 years or 50 its your choice.

the differentiator is intelligence, values and temperament

“speak a foreign language call Ebonics.”

That is funny.

He points out that fewer children mean fewer workers in the future and fewer tax dollars to pay for social programs.

Working what jobs? And at what salary? Enough to put them in a wage bracket high enough to take taxs from?

The focus on more population = more prosperity has a distinct element of nonsense.

The dividend is delayed
Hopes that Africa’s dramatic population bulge may create prosperity seem to have been overdone
Mar 8th 2014

To make matters worse, many economists fret that the recent story of “rising Africa”—a virtuous circle of economic growth and improved governance—is already starting to wear thin. Dani Rodrik of Princeton University, for example, reckons that manufacturing and private investment have hardly budged despite a decade of rising incomes. Some economists, to be sure, say that Africa is ripe for a manufacturing surge. But it is still the case that African growth depends heavily on commodity exports to China, where demand for raw materials is slowing.

http://www.economist.com/news/middle-east-and-africa/21598646-hopes-africas-dramatic-population-bulge-may-create-prosperity-seem-have

JJJjoe Its NOT due to segregation, white flight is a myth

The real cause of this divide is ENGLISH. Not Color

“White” flight was a result of people coming into the school system who were on a jail track not on a college track so parents made a choice to move to the burbs, remember middle class BLACK families did the same.

I’m also seeing saturation. Any low skill job that could be filled by an illegal has already been filled by an illegal. I suppose the next wave of illegals could try to undercut the wages of the illegals already here. That will make for interesting times.

Back To The Garden on South Broadway sells three grams of the most killer sh*t that will make you peel your skull open to take a better look inside for just $20, Dannyboy.

That’s about what a case of Duff or two 6-packs of a decent IPA costs.

If someone smokes so much weed that they can’t afford to pay $20 for three grams, they’ve probably got some serious life-functioning issues…

If that is an advertisement you need to send a check to Ben.

I’ll be in La Veta tonight and tomorrow, just across the NM state line, meet me up there and I’ll give you a free sample.

Checking out the FEMA camp near by? You will need the glasses. Seriously, it is nice country but I am no where near there today. BTW, if you head down to Las Vegas, NM you can see where they shot Red Dawn.

http://conspiracies.skepticproject.com/articles/fema/camps-colorado/

Cal State is another matter.”

Cal Poly SLO is very good

I would rather assimilate 5 million new citizens and give them the First Amendment protection of freedom of religion than continue giving billions of dollars in direct aid to Israel every year and indirectly spending hundreds of billions of dollars to maintain a military industrial complex to ensure their safety (and fat Americans’ right to drive 15mpg SUVs) in a region where they are surrounded by hundreds of millions who believe their Sky Wizard is better.

I would rather assimilate 5 million new citizens…

+1

Goon shouldn’t they be required to speak English first. My grandmother had to at Ellis Island!!

There shouldn’t be any need to continue give Israel $3 billion a year. They’re quite a prosperous country at this point.

seems= seem, BTW can’t we find some used planes to sell the Iraq government? Putin seems, never, to miss an opportunity to expand Russian influence without costing Russia anything. In fact, Russia always seems to benefit economically. I think if Russia had invaded Iraq, they would be getting paid back with interest for all the money they expended.

Goon don’t worry the fabricated NASA numbers will be coming out in a few weeks:

http://wattsupwiththat.com/2014/07/01/uah-global-temaperture-update-not-much-change/

BTW, look out Texas everything is bigger in China:

Xinhua)
Updated: 2014-07-02 09:54
Counter:6

China’s second-largest hydropower station started full operation on Tuesday after its last generating unit completed a three-day test run late on Monday.

With 18 large generators and a total capacity of 13.86 gigawatts, Xiluodu is the world’s third-largest station after the Three Gorges and Itaipu hydroelectric projects, according to its operator, China Three Gorges Corporation.

The station can generate 57.1 billion kwh of electricity a year, which can replace 20 million tonnes of coal and reduce greenhouse gas emissions of 48 million tonnes.

Construction of the Xiluodu hydropower station, located in the Jinsha River, a major headstream of the Yangtze in southwestern Yunnan and Sichuan provinces, started in 2005.

right=write