Effect of the election on the housing market

[scaredyclassic]

we cannot rebuild a sustainable ecomnomy, because we never had a sustainable economy. We are not sustainable, we are about using crap up. So why would deflation help make things more sustainable. it would be more like rationing out their candy for a longer period of time. we’re still going to eat it all and litter the landscape with our wrappers, it’s just a question of how fast we’re going to do it and whether we’ll leave any for later generations to eat.

[zk]

[quote=Allan from Fallbrook] We’re seeing a near total repudiation of the “Big Government is Good” lie throughout the world. Look at the rise of center-right governments in Scandinavia, the massive changes taking place in Britain, and also France, and the realization amongst American voters that we’ve been sold a bill of goods.
[/quote]

When you’re basing your case on what the American (or any other) voters think, you’re obviously scraping the bottom of the barrel for scraps of evidence to back your theory.

To call what we’re seeing now bad big government is like calling a 70-yard pass into a group of players from both sides in the end zone when you’re down 7 points with 4 seconds left a bad play. Sure, it’s a bad play if you look at it in a vacuum. But, in real life, it’s either that or sit around and let your team lose. It’s really your only option. And it’s a response to the team’s poor play in the preceding 59 minutes. It’s not a decision that was made in a vacuum.

[quote=Allan from Fallbrook] Nothing lends more credence to your post, or is more telling in terms of how business leaders mistrust this president and his administration, than the statistic that tells us that between $800Bn and $1Trn is sitting on businesses’ balance sheets and is not being used at present.[/quote]

They’re hoarding that cash because they’re afraid of deflation. They’re afraid that there’s not enough stimulus. You’re arguing against yourself here, Allan.

And here’s another article, this one from the WSJ, for those of you who don’t believe anything in the NYT.

http://online.wsj.com/article/SB10001424052748704477904575585983364173718.html

[zk]

[quote=Allan from Fallbrook] We’re seeing a near total repudiation of the “Big Government is Good” lie throughout the world. Look at the rise of center-right governments in Scandinavia, the massive changes taking place in Britain, and also France, and the realization amongst American voters that we’ve been sold a bill of goods.
[/quote]

When you’re basing your case on what the American (or any other) voters think, you’re obviously scraping the bottom of the barrel for scraps of evidence to back your theory.

To call what we’re seeing now bad big government is like calling a 70-yard pass into a group of players from both sides in the end zone when you’re down 7 points with 4 seconds left a bad play. Sure, it’s a bad play if you look at it in a vacuum. But, in real life, it’s either that or sit around and let your team lose. It’s really your only option. And it’s a response to the team’s poor play in the preceding 59 minutes. It’s not a decision that was made in a vacuum.

[quote=Allan from Fallbrook] Nothing lends more credence to your post, or is more telling in terms of how business leaders mistrust this president and his administration, than the statistic that tells us that between $800Bn and $1Trn is sitting on businesses’ balance sheets and is not being used at present.[/quote]

They’re hoarding that cash because they’re afraid of deflation. They’re afraid that there’s not enough stimulus. You’re arguing against yourself here, Allan.

And here’s another article, this one from the WSJ, for those of you who don’t believe anything in the NYT.

http://online.wsj.com/article/SB10001424052748704477904575585983364173718.html

[zk]

[quote=Allan from Fallbrook] We’re seeing a near total repudiation of the “Big Government is Good” lie throughout the world. Look at the rise of center-right governments in Scandinavia, the massive changes taking place in Britain, and also France, and the realization amongst American voters that we’ve been sold a bill of goods.
[/quote]

When you’re basing your case on what the American (or any other) voters think, you’re obviously scraping the bottom of the barrel for scraps of evidence to back your theory.

To call what we’re seeing now bad big government is like calling a 70-yard pass into a group of players from both sides in the end zone when you’re down 7 points with 4 seconds left a bad play. Sure, it’s a bad play if you look at it in a vacuum. But, in real life, it’s either that or sit around and let your team lose. It’s really your only option. And it’s a response to the team’s poor play in the preceding 59 minutes. It’s not a decision that was made in a vacuum.

[quote=Allan from Fallbrook] Nothing lends more credence to your post, or is more telling in terms of how business leaders mistrust this president and his administration, than the statistic that tells us that between $800Bn and $1Trn is sitting on businesses’ balance sheets and is not being used at present.[/quote]

They’re hoarding that cash because they’re afraid of deflation. They’re afraid that there’s not enough stimulus. You’re arguing against yourself here, Allan.

And here’s another article, this one from the WSJ, for those of you who don’t believe anything in the NYT.

http://online.wsj.com/article/SB10001424052748704477904575585983364173718.html

[zk]

[quote=Allan from Fallbrook] We’re seeing a near total repudiation of the “Big Government is Good” lie throughout the world. Look at the rise of center-right governments in Scandinavia, the massive changes taking place in Britain, and also France, and the realization amongst American voters that we’ve been sold a bill of goods.
[/quote]

When you’re basing your case on what the American (or any other) voters think, you’re obviously scraping the bottom of the barrel for scraps of evidence to back your theory.

To call what we’re seeing now bad big government is like calling a 70-yard pass into a group of players from both sides in the end zone when you’re down 7 points with 4 seconds left a bad play. Sure, it’s a bad play if you look at it in a vacuum. But, in real life, it’s either that or sit around and let your team lose. It’s really your only option. And it’s a response to the team’s poor play in the preceding 59 minutes. It’s not a decision that was made in a vacuum.

[quote=Allan from Fallbrook] Nothing lends more credence to your post, or is more telling in terms of how business leaders mistrust this president and his administration, than the statistic that tells us that between $800Bn and $1Trn is sitting on businesses’ balance sheets and is not being used at present.[/quote]

They’re hoarding that cash because they’re afraid of deflation. They’re afraid that there’s not enough stimulus. You’re arguing against yourself here, Allan.

And here’s another article, this one from the WSJ, for those of you who don’t believe anything in the NYT.

http://online.wsj.com/article/SB10001424052748704477904575585983364173718.html

[zk]

[quote=Allan from Fallbrook] We’re seeing a near total repudiation of the “Big Government is Good” lie throughout the world. Look at the rise of center-right governments in Scandinavia, the massive changes taking place in Britain, and also France, and the realization amongst American voters that we’ve been sold a bill of goods.
[/quote]

When you’re basing your case on what the American (or any other) voters think, you’re obviously scraping the bottom of the barrel for scraps of evidence to back your theory.

To call what we’re seeing now bad big government is like calling a 70-yard pass into a group of players from both sides in the end zone when you’re down 7 points with 4 seconds left a bad play. Sure, it’s a bad play if you look at it in a vacuum. But, in real life, it’s either that or sit around and let your team lose. It’s really your only option. And it’s a response to the team’s poor play in the preceding 59 minutes. It’s not a decision that was made in a vacuum.

[quote=Allan from Fallbrook] Nothing lends more credence to your post, or is more telling in terms of how business leaders mistrust this president and his administration, than the statistic that tells us that between $800Bn and $1Trn is sitting on businesses’ balance sheets and is not being used at present.[/quote]

They’re hoarding that cash because they’re afraid of deflation. They’re afraid that there’s not enough stimulus. You’re arguing against yourself here, Allan.

And here’s another article, this one from the WSJ, for those of you who don’t believe anything in the NYT.

http://online.wsj.com/article/SB10001424052748704477904575585983364173718.html

[permabear]

Banks are insolvent and hence the cash hoarding. Wells Fargo has 75 cents of every dollar in bad debt:

http://www.housingwire.com/2010/10/22/jpmorgan-wells-fargo-and-bofa-each-hold-more-than-20-billion-in-foreclosures

Regarding the regime change, how quickly everyone forgets that the biggest deficits were under Republicans, and that Wall Street deregulation policies led us directly to dangerous speculation, Bear Stearns, Lehman Brothers, and TARP.

[permabear]

Banks are insolvent and hence the cash hoarding. Wells Fargo has 75 cents of every dollar in bad debt:

http://www.housingwire.com/2010/10/22/jpmorgan-wells-fargo-and-bofa-each-hold-more-than-20-billion-in-foreclosures

Regarding the regime change, how quickly everyone forgets that the biggest deficits were under Republicans, and that Wall Street deregulation policies led us directly to dangerous speculation, Bear Stearns, Lehman Brothers, and TARP.

[permabear]

Banks are insolvent and hence the cash hoarding. Wells Fargo has 75 cents of every dollar in bad debt:

http://www.housingwire.com/2010/10/22/jpmorgan-wells-fargo-and-bofa-each-hold-more-than-20-billion-in-foreclosures

Regarding the regime change, how quickly everyone forgets that the biggest deficits were under Republicans, and that Wall Street deregulation policies led us directly to dangerous speculation, Bear Stearns, Lehman Brothers, and TARP.

[permabear]

Banks are insolvent and hence the cash hoarding. Wells Fargo has 75 cents of every dollar in bad debt:

http://www.housingwire.com/2010/10/22/jpmorgan-wells-fargo-and-bofa-each-hold-more-than-20-billion-in-foreclosures

Regarding the regime change, how quickly everyone forgets that the biggest deficits were under Republicans, and that Wall Street deregulation policies led us directly to dangerous speculation, Bear Stearns, Lehman Brothers, and TARP.

[permabear]

Banks are insolvent and hence the cash hoarding. Wells Fargo has 75 cents of every dollar in bad debt:

http://www.housingwire.com/2010/10/22/jpmorgan-wells-fargo-and-bofa-each-hold-more-than-20-billion-in-foreclosures

Regarding the regime change, how quickly everyone forgets that the biggest deficits were under Republicans, and that Wall Street deregulation policies led us directly to dangerous speculation, Bear Stearns, Lehman Brothers, and TARP.

[Allan from Fallbrook]

[quote=permabear]Banks are insolvent and hence the cash hoarding. Wells Fargo has 75 cents of every dollar in bad debt:

http://www.housingwire.com/2010/10/22/jpmorgan-wells-fargo-and-bofa-each-hold-more-than-20-billion-in-foreclosures

Regarding the regime change, how quickly everyone forgets that the biggest deficits were under Republicans, and that Wall Street deregulation policies led us directly to dangerous speculation, Bear Stearns, Lehman Brothers, and TARP.[/quote]

Permabear: When I argue against Big Government, I’m not pointing a finger at the Dems. I’m arguing against pretty much against any administration over the last 40 years.

Your point about Dubya is well taken, and you can make the same point about Reagan, whom most Republicans deify as a model of fiscal rectitude until they look at the history and the facts.

I think, fair or not, Obama has come to symbolize all of the ills of the professional-class pol and tomorrow’s anticipated backlash voting is expected to bear that. I say anticipated because we don’t know what will happen tomorrow, until it happens.

[Allan from Fallbrook]

[quote=permabear]Banks are insolvent and hence the cash hoarding. Wells Fargo has 75 cents of every dollar in bad debt:

http://www.housingwire.com/2010/10/22/jpmorgan-wells-fargo-and-bofa-each-hold-more-than-20-billion-in-foreclosures

Regarding the regime change, how quickly everyone forgets that the biggest deficits were under Republicans, and that Wall Street deregulation policies led us directly to dangerous speculation, Bear Stearns, Lehman Brothers, and TARP.[/quote]

Permabear: When I argue against Big Government, I’m not pointing a finger at the Dems. I’m arguing against pretty much against any administration over the last 40 years.

Your point about Dubya is well taken, and you can make the same point about Reagan, whom most Republicans deify as a model of fiscal rectitude until they look at the history and the facts.

I think, fair or not, Obama has come to symbolize all of the ills of the professional-class pol and tomorrow’s anticipated backlash voting is expected to bear that. I say anticipated because we don’t know what will happen tomorrow, until it happens.

[Allan from Fallbrook]

[quote=permabear]Banks are insolvent and hence the cash hoarding. Wells Fargo has 75 cents of every dollar in bad debt:

http://www.housingwire.com/2010/10/22/jpmorgan-wells-fargo-and-bofa-each-hold-more-than-20-billion-in-foreclosures

Regarding the regime change, how quickly everyone forgets that the biggest deficits were under Republicans, and that Wall Street deregulation policies led us directly to dangerous speculation, Bear Stearns, Lehman Brothers, and TARP.[/quote]

Permabear: When I argue against Big Government, I’m not pointing a finger at the Dems. I’m arguing against pretty much against any administration over the last 40 years.

Your point about Dubya is well taken, and you can make the same point about Reagan, whom most Republicans deify as a model of fiscal rectitude until they look at the history and the facts.

I think, fair or not, Obama has come to symbolize all of the ills of the professional-class pol and tomorrow’s anticipated backlash voting is expected to bear that. I say anticipated because we don’t know what will happen tomorrow, until it happens.

[Allan from Fallbrook]

[quote=permabear]Banks are insolvent and hence the cash hoarding. Wells Fargo has 75 cents of every dollar in bad debt:

http://www.housingwire.com/2010/10/22/jpmorgan-wells-fargo-and-bofa-each-hold-more-than-20-billion-in-foreclosures

Regarding the regime change, how quickly everyone forgets that the biggest deficits were under Republicans, and that Wall Street deregulation policies led us directly to dangerous speculation, Bear Stearns, Lehman Brothers, and TARP.[/quote]

Permabear: When I argue against Big Government, I’m not pointing a finger at the Dems. I’m arguing against pretty much against any administration over the last 40 years.

Your point about Dubya is well taken, and you can make the same point about Reagan, whom most Republicans deify as a model of fiscal rectitude until they look at the history and the facts.

I think, fair or not, Obama has come to symbolize all of the ills of the professional-class pol and tomorrow’s anticipated backlash voting is expected to bear that. I say anticipated because we don’t know what will happen tomorrow, until it happens.

[Author]

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