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Saturday Videos: Economic Collapse
22
December
12/22/2008 Update:
I added another Peter Schiff audio interview (28 min)from Real Estate Radio USA.
Although this interview was from August 2008 (and before the implosion really started) – Schiff goes on to predict that Real Estate prices have a long way to go, and may not be considered “investment properties” for at least a decade.
I’m curious to see what your points of view are.
12/20/2008:
Here are two great videos you might enjoy watching. With all the bail-outs, job losses, tax increases, real-estate bubbles bursting, debt and more – maybe you might want to know who you should be listening to.
A couple smart people have been predicting the collapse of the U.S. Economy for quite a while – yet the so-called “experts” and opposing politicians just laughed them off.
What’s wrong with our government?
December 22nd 2008 - 10:06:02 |
Yeah, forget this new inexperienced guy we have coming in. Let’s give the current administration a four- (or maybe even eight-) year extension to reward them for all their fine work. Heck, if they got us to this economic situation in eight years, imagine what they can do with another eight!
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December 22nd 2008 - 10:10:53 |
Skywalker wrote:
Hey why not…MA keeps re-electing the incompetent Barney Frank who is just as culpable in this whole fiasco.
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December 22nd 2008 - 10:28:42 |
once again little skycrawler shows for all to see his complete lack of knowledge on how we got to where we are and who exactly the players are. the GSE’s are the primary culprits and those that moved that iceburg into the path of our economy should be shot. barney frank would be number one.
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December 22nd 2008 - 10:43:52 |
Sure String Chump, whatever you say. I actually see being insulted by you as a badge of honor, so keep up the good work….the day I find myself seeing eye-to-eye with you is the day I take a long walk off Pier A.
By the way it’s iceberg not iceburg you dumbass!
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December 22nd 2008 - 10:45:00 |
There’s plenty of Republicans that should be walking the plank. First and foremost, Hank Paulson who is nothing more than a criminal with government backing.
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December 22nd 2008 - 10:46:32 |
that’s how you spell it during hannukah!
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December 22nd 2008 - 10:55:48 |
who said anything about party? did i say anything about party? i don’t see it anywhere. let me look again…nope nothing about party here. i said those that were setting policy for the GSE’s caused all this. you guess correctly that they were all democrats but that’s not my fault. Frank, dodd, and all those scumbags who sat on the GSE hearing should all be imprisoned for the pain and damage they have caused. and BTW, i’m no fan of paulson, but he was at GS&CO since 1974, not sitting in DC saying “i’d like to roll the dice more on this” as barney frank was. that bayonne f*gg*t has as much experience in the mortgage market as obama has in holding a real job.
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December 22nd 2008 - 11:11:44 |
I never said you said Democrats. I am just acknowledging that the clowns who wanted everyone to have credit to get a house were primarily Democrats. While they painted themselves as the champions of the uncreditworthy the reality is Frank, Dodd, etc were bought and paid for not just by the GSE’s but also the Wall Street CDO/CMBS machine. In fact, the reason all those clowns supported a bailout wasn’t to keep any low-income americans in house but to bailout the banks who’d given them their fat campaign donations.
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December 22nd 2008 - 12:06:49 |
Long article in yesterday’s NYT on the last 6 years of Bush’s Ownership Society. http://tinyurl.com/7mbz9t
Like everything else the big spending, government-loving Bush touched, the result is cronyism, corruption and incompetence. It’s not the biggest reason for the financial mess–Wall Street takes that prize–but it’s history worth knowing.
Bottom line: Ronnie was right. When someone says “I’m from the government and I’m here to help,” things are gonna get f’d real quick.
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December 22nd 2008 - 14:40:39 |
Have not read all the previous posts. So apologies for any redundancy/whatever. But suggest folks check out last weeks’s Brian Lehrer show on http://www.wnyc.org. Stoller Real Estate Report—specifically mentioned Hoboken & JC. 10-15% market drop imminent. And condo sales flat-lined, since Sept.
Grim. But some will find opportunity in the face of adversity.
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December 22nd 2008 - 14:52:16 |
Funny on this bit from the White House reax to the NYT story:
“The Times’ ‘reporting’ in this story amounted to finding selected quotes to support a story the reporters fully intended to write from the onset, while disregarding anything that didn’t fit their point of view.”
Gee, Bush would never find selected intelligence to pitch a war the administration fully intended to launch from the onset, while disregarding anything that didn’t fit his point of view — would he?
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December 22nd 2008 - 15:45:38 |
Skywalker wrote:
Take another sip of the Kool Aid..
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December 22nd 2008 - 16:03:20 |
BklynHobo wrote:
I can’t, apparently you polished off the pitcher.
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December 22nd 2008 - 16:05:51 |
BklynHobo wrote:
Pot, meet kettle…
washingtonpost.com/wp-dyn/content/a...cle/2008/12/21/AR2008122100869.html
“In an interview with ABC News last week, Cheney suggested that the administration would have gone to war with Iraq even without erroneous intelligence showing that Saddam Hussein had developed weapons of mass destruction.”
I would explain it to you, but it wouldn’t do any good. What’s your preference? Grape or Cherry?
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December 22nd 2008 - 16:11:39 |
I saw this about 2 months ago.
It’s so appropriate that these toolbags are all on Fox News. They laughed in his face!! I’m surprised they didn’t have O’Rielly yelling at him for good measure.
What a double edged sword, you’re proven right about something that sucks for everyone.
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December 22nd 2008 - 16:28:17 |
Easy-E wrote:
Gotta love the unbiased Wahington Post. Here is Cheney’s exact quote from the ABC interview:
“As I look at the intelligence with respect to Iraq, what they got wrong was that there weren’t any stockpiles.”
“What they found was that Saddam Hussein still had the capability to produce weapons of mass destruction. He had the technology, he had the people, he had the basic feed stock.”
Cheney added that, given Saddam Hussein’s capabilities, reputation and track record of brutality, “this was a bad actor, and the country’s better off, the world’s better off with Saddam gone, and I think we made the right decision, in spite of the fact that the original NIE was off in some of its major judgments.”
I love how you call me the kool aid drinker when you can’t even be intellectually honest about the situation. It’s not like GWB was the only one saying there were WMD. The people that also saw the intelligence all thought he did as well, as well as the UN. Do you think Bill Clinton, Hillary Clinton, John Kerry, John Edwards, Tony Blair, and the rest of the people that said he had WMD and saw the same information as Bush were lying as well? Of course you wouldn’t say that, your Bush rage has blinded you too much.
I don’t think the post invasion strategy was a good one, and I am glad that Petraus and Gates have righted the ship. But if you think or say Iraq was better off, including the citizens and our interests in the area, you’re either an idiot or you just can’t see past your partisan hatred.
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December 22nd 2008 - 17:01:02 |
Kool-Aid drinking was buying into Bush & Co.’s BS rah-rah sales job of the Iraq War — imminent threat, uranium from Niger, meeting in Prague regarding the 9/11 connection, etc. This has been documented as a sales job by Woodward, and acknowledged as such even by several Bush insiders who have since scaled the wall — McClellan, Dowd, even Powell to a certain extent.
Intellectual honesty was seeing through the BS.
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December 22nd 2008 - 18:15:21 |
BklynHobo wrote:
Ok, cherry it is then…
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December 23rd 2008 - 15:49:20 |
“THE BAILOUT,”
a play in 20 words
CURTAIN RISES. TWO MEN, BANKS and CONGRESS, ARE AT CENTER STAGE.
BANKS: We need money.
CONGRESS: Here you go.
(long pause)
CONGRESS: Hey, that money I gave you, what are you doing with it?
BANKS: Fuck you.
LIGHTS DIM, CLOSE CURTAIN
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December 23rd 2008 - 16:23:50 |
cinghiale wrote:
You just don’t understand trickle down economics!
(By the way, I think that trickle that’s landing on us is them peeing off the balcony…)
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