We have had a 'bubble economy' since early in 2004.
Yesterday, Greenspan gave an interview on BBC. His message was more of the same:
Posted on 10/02/2007 7:27:22 AM PDT by ex-Texan
“The fate of the world economy hinges on what happens to house prices in America and that may not be a good thing, former Federal Reserve chairman Alan Greenspan said on Monday.”
Old news for some of us. About time AG spoke the obvious.
They were. That was where a lot of the money buying the huge blocks of CDOs and MBS was coming from.
That came to an end when the wizards doing all that buying discovered that the underlying mortgages are more like junk than AAA paper. It is a very big deal, far larger than just the subprime lending market.
[I am discouraged and angry but will continue fighting them. They will probably crush and break me by the time it’s over but I will go down swinging. ]
CHARLIE MIKE
Well said, well said indeed..
W.
Yeah, I guess the same could be said for all those selling new, high end pickup trucks for $40,000 plus dollars.
Of course waiting for the one I want to come down to 10k will probably be a looong wait. lol
Every time he opens his mouth the market goes down.
Perhaps he timed his comments for Monday post-record setting Friday.
On the other hand, maybe he timed it perfectly to throw wet wood onto the fire. There are certain maxims about the market that he just plain negated today. If anybody remembers, he was the one that warned about "irrational exuberance" (something xClintoon was not keen on damping).
If but for Bush, then Grandstanding Jenny's campaigning may have to have been something about (gasp! Heaven Forbid!) her performance, rather than casting aspersions to he predecessor (or policies of the present POTUS that she politically disagrees with).
Astonishingly enough (well, not really, or very), she had nothing more to say about shutting down MI State Gov except that her predecessor squandered a huge suprluss.
Fancy that, a huge inherited surpluss that was squandered by whom? Clearly its the States CEO (not the State's Demoncrat legislature) that had any hand it that. NOw there are a vast number of freshman politicians on both sides of the aisle that know only the thing that Tocqueiville (sp?) warned about: the voting of largesse by the hoi polloi through a legal method of plunder.
What are we talking 'bout again? Oh, yeah, knitting of booties. I heard 'bout that.
Boo hoo. Perhaps this is an indicator of the level to which market value is a manipulative facade.
Maybe it’s time to move back to some kind of realistic valuation instead of the current smoke and mirrors carnivale game.
What are we talking ‘bout again? Oh, yeah, knitting of booties. I heard ‘bout that.
Greenspan? A bootie call?
[Of course waiting for the one I want to come down to 10k will probably be a looong wait. lol]
Plenty of repo’s out there. IMHO, it makes no sense at all to buy new.
We have had a 'bubble economy' since early in 2004.
Yesterday, Greenspan gave an interview on BBC. His message was more of the same:
Yeah, I guess the same could be said for all those selling new, high end pickup trucks for $40,000 plus dollars.
Of course waiting for the one I want to come down to 10k will probably be a looong wait. lol
Plenty of repo’s out there. IMHO, it makes no sense at all to buy new.
You haven't a clue. Most getting behind in their payments know damn well they're going to be giving up their rides to the repo man, and they beat the sh*t out of them. Others quite often are found burning, with the owner alleging it was stolen etc...
Yeah, I'm going to find the the new, quality pickup I want, that goes for $40,000 NOT including tax and insurance for 10k.
Sure pal.. Sure.
Funny people bitching about home prices, when most quality vehicles that are worth a sh*t go for over $40,000.00 and up.
[Most getting behind in their payments know damn well they're going to be giving up their rides to the repo man, and they beat the sh*t out of them. ]
Observation of the relatively new vehicles I've seen riding down the road, early in the AM, on the back of tow-trucks seems to contradict that. Maybe it's different in your neighborhood.
When I bought my car, it was barely a year old, in mint condition, and was 21k verses the 35k+ new cost. That was 10 years and 100k well maintained miles ago. It was available due to a divorce sale when I bought it. It often makes no sense to pay full retail so I buy used whenever practical.
[Yeah, I'm going to find the the new, quality pickup I want, that goes for $40,000]
Some of us are happy getting what we need and are not interesting in what the marketers tells us we should want.
>>not interesting in
Should be:
not interested in
There was no housing bubble. There were housing bubbles in various markets. Had you paid attention, you’d already have known my answer, Betty.
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