Meredith Whitney Sees More Trouble for Housing

[Allan from Fallbrook]

[quote=ravinos][quote=Allan from Fallbrook]
I’m German on both sides of my family, and quite familiar with “Perfidious Albion”. You might have noticed, but we Americans had to wage two separate wars to kick your confiscatory, monarchical and inbred asses out of North America.
“God save the Queen”? Really? I loathe everything she represents (Divine Right, anyone?) and boasting about 700 years of oppression isn’t something I’d crow about.[/quote]

You’re twisting yourself into a pretzel..now you’re of German heritage, but a day ago, as per your own words:
“Also, spare me the racism directed at my Anglo heritage, please. It doesn’t have a place on this forum.”
Again, a low blow and spurious argument because all I did, as documented by my post, is criticize an Anglo ECONOMIC theory.

Memo: German heritage/ethnicity is NOT Anglo…It’s something else, I know what it is, you figure it out…maybe by your “we Americans”, you’re now a Native-American “Indian”.
Obviously very ethnically sensitive and confused you are, indicated by your use of the term “inbred”….a word uttered by millions of… “pure” Germans.[/quote]

Ravinos: Nope, you had it right the first time, regarding my reaction to the term “Anglos”. I reacted due to the use of that term by Hispanics, and often in a pejorative sense.

“Pure” Germans? Ah, now you’re playing the Nazi card, is that it? No joy there, either, Kitchener. My Grandma left Germany in 1935 to escape exactly that kind of nonsense. Not a “pure” German anyway, since that doesn’t exist, except to idiots like Hitler, who wasn’t even German.

As far as racial purity goes, you “Anglos” have us Teutons beat, hands down. I don’t know if you hail from either the Stuarts or the Tudors (you mention both English and Scotch heritage), but the Royals in England have had a going concern as far as making money from racial warfare, oppression and tribal hatreds.

Interesting you didn’t mention the “Saxon” part of Anglo-Saxon. We could open the door up to Queen Victoria’s dirty little secret (and, no, I’m not talking about her relationship with Mr. Brown). Speaking of Queen Victoria: She definitely put the wood to the brown folks of the world during her tenure, didn’t she? Perhaps her “dirty little secret” (from her mother’s side) at work, eh?

While there is certainly plenty to be horrified at coming from a German heritage, you “pure” Anglos have done far more damage, and claimed far more lives, and for a far greater period than my folks have. It continues to this day and in places like the Balkans, and Palestine and Afghanistan and all over the continent of Africa. That British “Civilizing Mission” was truly something to behold, huh? Of course, I’m sure you’re thinking “Where is Richard the Lion-Hearted when we need him most to deal with these fuzzy-wuzzies”?

Hey, do you want to tell the various readers about how the British invented the concentration camp?

[analyst]

For those of us still trying to predict the future of real estate in the face of massive government intervention, it would save us a lot of time if we didn’t continually have to wade through a lot of debates and personal conversations about irrelevant topics. Please move this off-topic discussion to the off-topic forum.

[analyst]

For those of us still trying to predict the future of real estate in the face of massive government intervention, it would save us a lot of time if we didn’t continually have to wade through a lot of debates and personal conversations about irrelevant topics. Please move this off-topic discussion to the off-topic forum.

[analyst]

For those of us still trying to predict the future of real estate in the face of massive government intervention, it would save us a lot of time if we didn’t continually have to wade through a lot of debates and personal conversations about irrelevant topics. Please move this off-topic discussion to the off-topic forum.

[analyst]

For those of us still trying to predict the future of real estate in the face of massive government intervention, it would save us a lot of time if we didn’t continually have to wade through a lot of debates and personal conversations about irrelevant topics. Please move this off-topic discussion to the off-topic forum.

[analyst]

For those of us still trying to predict the future of real estate in the face of massive government intervention, it would save us a lot of time if we didn’t continually have to wade through a lot of debates and personal conversations about irrelevant topics. Please move this off-topic discussion to the off-topic forum.

[Rt.66]

25% is in the bag. That said….

Ravinos Great posts! CA Renter well said. I am seeing less ignorant Union bashing lately. It seems that the never ending parade of jobless stats is starting to sink into the most anti-union heads. We need jobs everyone knows that, but more are starting to look around and wonder where the GOOD jobs went and where and how they’ll come back; that leads them to manufacturing.

Ravinos your point about Germany’s continued success while having large and powerful unions is excellent. Unions demanding that workers share in the wealth of a countries output is a solid and proven, workable formula and neccessity.

Over at Mish’s site there is a great discussion on this topic. Mish’s regular posters rarely disagree with him but they are overwhelmingly disagreeing on the anti-union stance.

http://globaleconomicanalysis.blogspot.com/2009/09/obama-risks-global-trade-war-with.html

You’d have to be an ostrich at this point to still think that workers in this country will ever be willingly given a fair shake by the corporate elite. Millions now see their part of the American dream sliding away while CEOs wages are actually still GOING UP! They will steal labor as cheap as they can get it and somehow have managed to get a majority of Americans to side with THEM in a anti-union stand.

We have two opposing sides, workers and corporate elite, historical enemies. One side has managed to convince the other side to drop his weapons without the other even realizing it. They manipulate the simple minded and have achieved a great victory.

For the Elite it’s been war, they want it all and good times or bad times they make damn sure they get “theirs”. For workers it’s been a case of divided and conquered and two decades of stagnant wages (wow aren’t we shrewd?).

Today they fire workers in the hundreds of thousands EVERY MONTH and at the same time shower themselves with tax payer bailout dollars.
We get pink slips they get tax payer backed multi-million dollar bonuses. And in the world’s best example of shifting blame/anger have focused America’s anger on unions and away from themselves.

Only just now are people waking up and seeing how much this ignorance is costing the middle class and poor.

Nothing is perfect in this world and that includes unions, but they are our biggest weapon in the battle of “us against them”. Unless you don’t believe we are in a battle (and losing hard)?

[Rt.66]

25% is in the bag. That said….

Ravinos Great posts! CA Renter well said. I am seeing less ignorant Union bashing lately. It seems that the never ending parade of jobless stats is starting to sink into the most anti-union heads. We need jobs everyone knows that, but more are starting to look around and wonder where the GOOD jobs went and where and how they’ll come back; that leads them to manufacturing.

Ravinos your point about Germany’s continued success while having large and powerful unions is excellent. Unions demanding that workers share in the wealth of a countries output is a solid and proven, workable formula and neccessity.

Over at Mish’s site there is a great discussion on this topic. Mish’s regular posters rarely disagree with him but they are overwhelmingly disagreeing on the anti-union stance.

http://globaleconomicanalysis.blogspot.com/2009/09/obama-risks-global-trade-war-with.html

You’d have to be an ostrich at this point to still think that workers in this country will ever be willingly given a fair shake by the corporate elite. Millions now see their part of the American dream sliding away while CEOs wages are actually still GOING UP! They will steal labor as cheap as they can get it and somehow have managed to get a majority of Americans to side with THEM in a anti-union stand.

We have two opposing sides, workers and corporate elite, historical enemies. One side has managed to convince the other side to drop his weapons without the other even realizing it. They manipulate the simple minded and have achieved a great victory.

For the Elite it’s been war, they want it all and good times or bad times they make damn sure they get “theirs”. For workers it’s been a case of divided and conquered and two decades of stagnant wages (wow aren’t we shrewd?).

Today they fire workers in the hundreds of thousands EVERY MONTH and at the same time shower themselves with tax payer bailout dollars.
We get pink slips they get tax payer backed multi-million dollar bonuses. And in the world’s best example of shifting blame/anger have focused America’s anger on unions and away from themselves.

Only just now are people waking up and seeing how much this ignorance is costing the middle class and poor.

Nothing is perfect in this world and that includes unions, but they are our biggest weapon in the battle of “us against them”. Unless you don’t believe we are in a battle (and losing hard)?

[Rt.66]

25% is in the bag. That said….

Ravinos Great posts! CA Renter well said. I am seeing less ignorant Union bashing lately. It seems that the never ending parade of jobless stats is starting to sink into the most anti-union heads. We need jobs everyone knows that, but more are starting to look around and wonder where the GOOD jobs went and where and how they’ll come back; that leads them to manufacturing.

Ravinos your point about Germany’s continued success while having large and powerful unions is excellent. Unions demanding that workers share in the wealth of a countries output is a solid and proven, workable formula and neccessity.

Over at Mish’s site there is a great discussion on this topic. Mish’s regular posters rarely disagree with him but they are overwhelmingly disagreeing on the anti-union stance.

http://globaleconomicanalysis.blogspot.com/2009/09/obama-risks-global-trade-war-with.html

You’d have to be an ostrich at this point to still think that workers in this country will ever be willingly given a fair shake by the corporate elite. Millions now see their part of the American dream sliding away while CEOs wages are actually still GOING UP! They will steal labor as cheap as they can get it and somehow have managed to get a majority of Americans to side with THEM in a anti-union stand.

We have two opposing sides, workers and corporate elite, historical enemies. One side has managed to convince the other side to drop his weapons without the other even realizing it. They manipulate the simple minded and have achieved a great victory.

For the Elite it’s been war, they want it all and good times or bad times they make damn sure they get “theirs”. For workers it’s been a case of divided and conquered and two decades of stagnant wages (wow aren’t we shrewd?).

Today they fire workers in the hundreds of thousands EVERY MONTH and at the same time shower themselves with tax payer bailout dollars.
We get pink slips they get tax payer backed multi-million dollar bonuses. And in the world’s best example of shifting blame/anger have focused America’s anger on unions and away from themselves.

Only just now are people waking up and seeing how much this ignorance is costing the middle class and poor.

Nothing is perfect in this world and that includes unions, but they are our biggest weapon in the battle of “us against them”. Unless you don’t believe we are in a battle (and losing hard)?

[Rt.66]

25% is in the bag. That said….

Ravinos Great posts! CA Renter well said. I am seeing less ignorant Union bashing lately. It seems that the never ending parade of jobless stats is starting to sink into the most anti-union heads. We need jobs everyone knows that, but more are starting to look around and wonder where the GOOD jobs went and where and how they’ll come back; that leads them to manufacturing.

Ravinos your point about Germany’s continued success while having large and powerful unions is excellent. Unions demanding that workers share in the wealth of a countries output is a solid and proven, workable formula and neccessity.

Over at Mish’s site there is a great discussion on this topic. Mish’s regular posters rarely disagree with him but they are overwhelmingly disagreeing on the anti-union stance.

http://globaleconomicanalysis.blogspot.com/2009/09/obama-risks-global-trade-war-with.html

You’d have to be an ostrich at this point to still think that workers in this country will ever be willingly given a fair shake by the corporate elite. Millions now see their part of the American dream sliding away while CEOs wages are actually still GOING UP! They will steal labor as cheap as they can get it and somehow have managed to get a majority of Americans to side with THEM in a anti-union stand.

We have two opposing sides, workers and corporate elite, historical enemies. One side has managed to convince the other side to drop his weapons without the other even realizing it. They manipulate the simple minded and have achieved a great victory.

For the Elite it’s been war, they want it all and good times or bad times they make damn sure they get “theirs”. For workers it’s been a case of divided and conquered and two decades of stagnant wages (wow aren’t we shrewd?).

Today they fire workers in the hundreds of thousands EVERY MONTH and at the same time shower themselves with tax payer bailout dollars.
We get pink slips they get tax payer backed multi-million dollar bonuses. And in the world’s best example of shifting blame/anger have focused America’s anger on unions and away from themselves.

Only just now are people waking up and seeing how much this ignorance is costing the middle class and poor.

Nothing is perfect in this world and that includes unions, but they are our biggest weapon in the battle of “us against them”. Unless you don’t believe we are in a battle (and losing hard)?

[Rt.66]

25% is in the bag. That said….

Ravinos Great posts! CA Renter well said. I am seeing less ignorant Union bashing lately. It seems that the never ending parade of jobless stats is starting to sink into the most anti-union heads. We need jobs everyone knows that, but more are starting to look around and wonder where the GOOD jobs went and where and how they’ll come back; that leads them to manufacturing.

Ravinos your point about Germany’s continued success while having large and powerful unions is excellent. Unions demanding that workers share in the wealth of a countries output is a solid and proven, workable formula and neccessity.

Over at Mish’s site there is a great discussion on this topic. Mish’s regular posters rarely disagree with him but they are overwhelmingly disagreeing on the anti-union stance.

http://globaleconomicanalysis.blogspot.com/2009/09/obama-risks-global-trade-war-with.html

You’d have to be an ostrich at this point to still think that workers in this country will ever be willingly given a fair shake by the corporate elite. Millions now see their part of the American dream sliding away while CEOs wages are actually still GOING UP! They will steal labor as cheap as they can get it and somehow have managed to get a majority of Americans to side with THEM in a anti-union stand.

We have two opposing sides, workers and corporate elite, historical enemies. One side has managed to convince the other side to drop his weapons without the other even realizing it. They manipulate the simple minded and have achieved a great victory.

For the Elite it’s been war, they want it all and good times or bad times they make damn sure they get “theirs”. For workers it’s been a case of divided and conquered and two decades of stagnant wages (wow aren’t we shrewd?).

Today they fire workers in the hundreds of thousands EVERY MONTH and at the same time shower themselves with tax payer bailout dollars.
We get pink slips they get tax payer backed multi-million dollar bonuses. And in the world’s best example of shifting blame/anger have focused America’s anger on unions and away from themselves.

Only just now are people waking up and seeing how much this ignorance is costing the middle class and poor.

Nothing is perfect in this world and that includes unions, but they are our biggest weapon in the battle of “us against them”. Unless you don’t believe we are in a battle (and losing hard)?

[Allan from Fallbrook]

Scarlet: Except German auto makers and manufacturers aren’t competitive and haven’t been for quite some time (see following UK Independent article from 2004). Plus, they have a massive pension overhang and, on a unit cost pricing basis, are getting slaughtered by even their domestic rivals (Daimler versus BMW, for instance) who have realized the dangers of “over-unionization”.

http://www.independent.co.uk/news/world/europe/out-go-jobs-up-go-the-hours-german-unions-confront-a-cold-new-reality-553513.html

As the US Chamber of Commerce white papers pointed out: There is a difference between union rhetoric and actual reality. The facts tell a very different tale than the yarn you’re spinning.

Final proof: If GM, as a union company, was so successful, what was the PRIMARY factor in its demise? Legacy costs. What were those legacy costs a DIRECT result of? Suicidal union collective bargaining agreements that ultimately proved unaffordable and unsustainable and drove the company into BK. Q.E.D.

[Allan from Fallbrook]

Scarlet: Except German auto makers and manufacturers aren’t competitive and haven’t been for quite some time (see following UK Independent article from 2004). Plus, they have a massive pension overhang and, on a unit cost pricing basis, are getting slaughtered by even their domestic rivals (Daimler versus BMW, for instance) who have realized the dangers of “over-unionization”.

http://www.independent.co.uk/news/world/europe/out-go-jobs-up-go-the-hours-german-unions-confront-a-cold-new-reality-553513.html

As the US Chamber of Commerce white papers pointed out: There is a difference between union rhetoric and actual reality. The facts tell a very different tale than the yarn you’re spinning.

Final proof: If GM, as a union company, was so successful, what was the PRIMARY factor in its demise? Legacy costs. What were those legacy costs a DIRECT result of? Suicidal union collective bargaining agreements that ultimately proved unaffordable and unsustainable and drove the company into BK. Q.E.D.

[Allan from Fallbrook]

Scarlet: Except German auto makers and manufacturers aren’t competitive and haven’t been for quite some time (see following UK Independent article from 2004). Plus, they have a massive pension overhang and, on a unit cost pricing basis, are getting slaughtered by even their domestic rivals (Daimler versus BMW, for instance) who have realized the dangers of “over-unionization”.

http://www.independent.co.uk/news/world/europe/out-go-jobs-up-go-the-hours-german-unions-confront-a-cold-new-reality-553513.html

As the US Chamber of Commerce white papers pointed out: There is a difference between union rhetoric and actual reality. The facts tell a very different tale than the yarn you’re spinning.

Final proof: If GM, as a union company, was so successful, what was the PRIMARY factor in its demise? Legacy costs. What were those legacy costs a DIRECT result of? Suicidal union collective bargaining agreements that ultimately proved unaffordable and unsustainable and drove the company into BK. Q.E.D.

[Allan from Fallbrook]

Scarlet: Except German auto makers and manufacturers aren’t competitive and haven’t been for quite some time (see following UK Independent article from 2004). Plus, they have a massive pension overhang and, on a unit cost pricing basis, are getting slaughtered by even their domestic rivals (Daimler versus BMW, for instance) who have realized the dangers of “over-unionization”.

http://www.independent.co.uk/news/world/europe/out-go-jobs-up-go-the-hours-german-unions-confront-a-cold-new-reality-553513.html

As the US Chamber of Commerce white papers pointed out: There is a difference between union rhetoric and actual reality. The facts tell a very different tale than the yarn you’re spinning.

Final proof: If GM, as a union company, was so successful, what was the PRIMARY factor in its demise? Legacy costs. What were those legacy costs a DIRECT result of? Suicidal union collective bargaining agreements that ultimately proved unaffordable and unsustainable and drove the company into BK. Q.E.D.

[Author]

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