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  • March 25, 2008 at 10:58 PM #12250
    dbapig
    Participant

    We’ve all heard about how the speculators and the shoddy lending practices have led to the disaster we are all experiencing. As I was thinking about it though I was reminded of an article Times/Newsweek did on the booming real estate market in 2003 or 2004. Not 100% sure on the timing. And its main story was basically having real estate property was a must if one wanted to join the higher income bracket.

    Its main thesis was that wealth generated in housing was so lucrative that not owning a piece of real estate would mean you’d fall behind as simply getting paychecks and saving won’t keep up with the rapid rise in property value.

    Does any one remember that article? I remember reading that article and worrying that I was falling behind in life… Silly me.

    Does anyone remember similar news stories during the boom that you’d like to share?

    March 25, 2008 at 11:23 PM #176283
    hipmatt
    Participant

    well, according to the propaganda machine known as CNBC, most of their employees will tell you things like.. “recession adverted, we are nearing the bottom of the economic slowdown, it’s time to start putting your money back into the main stock indexes, housing should bottom in less than 6 months…” This guy is a bad offender… http://www.cnbc.com/id/15838058/ Most of their commentary supports and acknowledges the success of govt. bailouts, large rate cuts, stimulus plans and the general philosophy to print our way out of trouble, or to socialize the large asset losses and to prevent them from naturally correcting.

    Then there is Cramer who will tell you on a bad day that we are in a bear market and stocks are all guilty until proven innocent, then the next, after the fed slashes rates or bails someone out and the market rallies, he is all giddy and amped up, he will tell you to “buy everything” and that “this is a sign that we’ve hit a bottom”.

    The only guy who seems to get it right is this guy… http://www.cnbc.com/id/15837966/
    Rick Santelli

    March 25, 2008 at 11:23 PM #176637
    hipmatt
    Participant

    well, according to the propaganda machine known as CNBC, most of their employees will tell you things like.. “recession adverted, we are nearing the bottom of the economic slowdown, it’s time to start putting your money back into the main stock indexes, housing should bottom in less than 6 months…” This guy is a bad offender… http://www.cnbc.com/id/15838058/ Most of their commentary supports and acknowledges the success of govt. bailouts, large rate cuts, stimulus plans and the general philosophy to print our way out of trouble, or to socialize the large asset losses and to prevent them from naturally correcting.

    Then there is Cramer who will tell you on a bad day that we are in a bear market and stocks are all guilty until proven innocent, then the next, after the fed slashes rates or bails someone out and the market rallies, he is all giddy and amped up, he will tell you to “buy everything” and that “this is a sign that we’ve hit a bottom”.

    The only guy who seems to get it right is this guy… http://www.cnbc.com/id/15837966/
    Rick Santelli

    March 25, 2008 at 11:23 PM #176641
    hipmatt
    Participant

    well, according to the propaganda machine known as CNBC, most of their employees will tell you things like.. “recession adverted, we are nearing the bottom of the economic slowdown, it’s time to start putting your money back into the main stock indexes, housing should bottom in less than 6 months…” This guy is a bad offender… http://www.cnbc.com/id/15838058/ Most of their commentary supports and acknowledges the success of govt. bailouts, large rate cuts, stimulus plans and the general philosophy to print our way out of trouble, or to socialize the large asset losses and to prevent them from naturally correcting.

    Then there is Cramer who will tell you on a bad day that we are in a bear market and stocks are all guilty until proven innocent, then the next, after the fed slashes rates or bails someone out and the market rallies, he is all giddy and amped up, he will tell you to “buy everything” and that “this is a sign that we’ve hit a bottom”.

    The only guy who seems to get it right is this guy… http://www.cnbc.com/id/15837966/
    Rick Santelli

    March 25, 2008 at 11:23 PM #176646
    hipmatt
    Participant

    well, according to the propaganda machine known as CNBC, most of their employees will tell you things like.. “recession adverted, we are nearing the bottom of the economic slowdown, it’s time to start putting your money back into the main stock indexes, housing should bottom in less than 6 months…” This guy is a bad offender… http://www.cnbc.com/id/15838058/ Most of their commentary supports and acknowledges the success of govt. bailouts, large rate cuts, stimulus plans and the general philosophy to print our way out of trouble, or to socialize the large asset losses and to prevent them from naturally correcting.

    Then there is Cramer who will tell you on a bad day that we are in a bear market and stocks are all guilty until proven innocent, then the next, after the fed slashes rates or bails someone out and the market rallies, he is all giddy and amped up, he will tell you to “buy everything” and that “this is a sign that we’ve hit a bottom”.

    The only guy who seems to get it right is this guy… http://www.cnbc.com/id/15837966/
    Rick Santelli

    March 25, 2008 at 11:23 PM #176736
    hipmatt
    Participant

    well, according to the propaganda machine known as CNBC, most of their employees will tell you things like.. “recession adverted, we are nearing the bottom of the economic slowdown, it’s time to start putting your money back into the main stock indexes, housing should bottom in less than 6 months…” This guy is a bad offender… http://www.cnbc.com/id/15838058/ Most of their commentary supports and acknowledges the success of govt. bailouts, large rate cuts, stimulus plans and the general philosophy to print our way out of trouble, or to socialize the large asset losses and to prevent them from naturally correcting.

    Then there is Cramer who will tell you on a bad day that we are in a bear market and stocks are all guilty until proven innocent, then the next, after the fed slashes rates or bails someone out and the market rallies, he is all giddy and amped up, he will tell you to “buy everything” and that “this is a sign that we’ve hit a bottom”.

    The only guy who seems to get it right is this guy… http://www.cnbc.com/id/15837966/
    Rick Santelli

    March 26, 2008 at 12:06 AM #176298
    dbapig
    Participant

    I find myself more and more ignoring what the MSM tells me re politics/economy/foreign-relations/etc and relying more on blogs/forums. I go to the MSM media only for things like some major accident/event and than when I need to go back to the story later, I go back more to wiki, rather than MSM itself.

    It’s not even funny how MSM gets some really basic facts wrong when they are reporting on something that I have some knowledge, basic one at that.

    Is that just me? 🙂

    March 26, 2008 at 12:06 AM #176652
    dbapig
    Participant

    I find myself more and more ignoring what the MSM tells me re politics/economy/foreign-relations/etc and relying more on blogs/forums. I go to the MSM media only for things like some major accident/event and than when I need to go back to the story later, I go back more to wiki, rather than MSM itself.

    It’s not even funny how MSM gets some really basic facts wrong when they are reporting on something that I have some knowledge, basic one at that.

    Is that just me? 🙂

    March 26, 2008 at 12:06 AM #176655
    dbapig
    Participant

    I find myself more and more ignoring what the MSM tells me re politics/economy/foreign-relations/etc and relying more on blogs/forums. I go to the MSM media only for things like some major accident/event and than when I need to go back to the story later, I go back more to wiki, rather than MSM itself.

    It’s not even funny how MSM gets some really basic facts wrong when they are reporting on something that I have some knowledge, basic one at that.

    Is that just me? 🙂

    March 26, 2008 at 12:06 AM #176661
    dbapig
    Participant

    I find myself more and more ignoring what the MSM tells me re politics/economy/foreign-relations/etc and relying more on blogs/forums. I go to the MSM media only for things like some major accident/event and than when I need to go back to the story later, I go back more to wiki, rather than MSM itself.

    It’s not even funny how MSM gets some really basic facts wrong when they are reporting on something that I have some knowledge, basic one at that.

    Is that just me? 🙂

    March 26, 2008 at 12:06 AM #176751
    dbapig
    Participant

    I find myself more and more ignoring what the MSM tells me re politics/economy/foreign-relations/etc and relying more on blogs/forums. I go to the MSM media only for things like some major accident/event and than when I need to go back to the story later, I go back more to wiki, rather than MSM itself.

    It’s not even funny how MSM gets some really basic facts wrong when they are reporting on something that I have some knowledge, basic one at that.

    Is that just me? 🙂

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