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August 17, 2007 at 3:41 PM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77325August 17, 2007 at 3:41 PM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77351
bsrsharma
ParticipantEVERY MODEL from EVERY OTHER MANUFACTURER is made in China.
Interesting! Tennis started as a game for European aristocrats. Similar to Levi – Strauss blue jeans all made outside US.
August 17, 2007 at 3:10 PM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77183Participant1. Made in China
2. Made in China
3. Made in China
This is a true story:
A few years back, my son, who was little – but could read well – saw that all his toys sported “Made in China” and asked my wife – mom, “am I also made in China?”. That little question from a child shines light on another important aspect – with the preponderance of imports, many Americans are now sublimally conditioned to think that “we are not good at …” (fill in whatever you want). Thus is the expanding class of “Jobs Americans can’t/won’t do” needing importation of foreigners.
August 17, 2007 at 3:10 PM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77304Participant1. Made in China
2. Made in China
3. Made in China
This is a true story:
A few years back, my son, who was little – but could read well – saw that all his toys sported “Made in China” and asked my wife – mom, “am I also made in China?”. That little question from a child shines light on another important aspect – with the preponderance of imports, many Americans are now sublimally conditioned to think that “we are not good at …” (fill in whatever you want). Thus is the expanding class of “Jobs Americans can’t/won’t do” needing importation of foreigners.
August 17, 2007 at 3:10 PM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77329Participant1. Made in China
2. Made in China
3. Made in China
This is a true story:
A few years back, my son, who was little – but could read well – saw that all his toys sported “Made in China” and asked my wife – mom, “am I also made in China?”. That little question from a child shines light on another important aspect – with the preponderance of imports, many Americans are now sublimally conditioned to think that “we are not good at …” (fill in whatever you want). Thus is the expanding class of “Jobs Americans can’t/won’t do” needing importation of foreigners.
August 17, 2007 at 2:33 PM in reply to: How the S&L crisis is similar to what’s happening now #77174ParticipantAnother useful link:
http://en.wikipedia.org/wiki/Savings_and_Loan_crisis
What I remember is, one aspect of S & L Crisis was its origin in liberalization of S & Ls charter to diversify outside of traditional home loans. This made them jump into commercial real estate and construction loan business which they did not understand well. Commercial RE is more cyclical and the cycles are deeper than traditional home mortgages due to absence of psychological and emotional ownership and the lack of sense of failure. This made S & Ls sitting ducks to phony developers who took out large loans with speculative intent (If I win, I will pay back; If I lose, I will walk attitude). Of course, many unscrupulous developers were hand in glove with corrupt S & L owners and conspired to loot the S & Ls right away.
August 17, 2007 at 2:33 PM in reply to: How the S&L crisis is similar to what’s happening now #77295ParticipantAnother useful link:
http://en.wikipedia.org/wiki/Savings_and_Loan_crisis
What I remember is, one aspect of S & L Crisis was its origin in liberalization of S & Ls charter to diversify outside of traditional home loans. This made them jump into commercial real estate and construction loan business which they did not understand well. Commercial RE is more cyclical and the cycles are deeper than traditional home mortgages due to absence of psychological and emotional ownership and the lack of sense of failure. This made S & Ls sitting ducks to phony developers who took out large loans with speculative intent (If I win, I will pay back; If I lose, I will walk attitude). Of course, many unscrupulous developers were hand in glove with corrupt S & L owners and conspired to loot the S & Ls right away.
August 17, 2007 at 2:33 PM in reply to: How the S&L crisis is similar to what’s happening now #77320ParticipantAnother useful link:
http://en.wikipedia.org/wiki/Savings_and_Loan_crisis
What I remember is, one aspect of S & L Crisis was its origin in liberalization of S & Ls charter to diversify outside of traditional home loans. This made them jump into commercial real estate and construction loan business which they did not understand well. Commercial RE is more cyclical and the cycles are deeper than traditional home mortgages due to absence of psychological and emotional ownership and the lack of sense of failure. This made S & Ls sitting ducks to phony developers who took out large loans with speculative intent (If I win, I will pay back; If I lose, I will walk attitude). Of course, many unscrupulous developers were hand in glove with corrupt S & L owners and conspired to loot the S & Ls right away.
ParticipantOne thing that hits you in the face is the emptiness of Home Depot stores (And parking lots too). Have you been there lately? It used to be a zoo during the bubble days. Now it is down to one or two checkout counters and still no waiting. One needs an IQ just above the freezing point to recognize the recession just seeing that.
ParticipantOne thing that hits you in the face is the emptiness of Home Depot stores (And parking lots too). Have you been there lately? It used to be a zoo during the bubble days. Now it is down to one or two checkout counters and still no waiting. One needs an IQ just above the freezing point to recognize the recession just seeing that.
ParticipantOne thing that hits you in the face is the emptiness of Home Depot stores (And parking lots too). Have you been there lately? It used to be a zoo during the bubble days. Now it is down to one or two checkout counters and still no waiting. One needs an IQ just above the freezing point to recognize the recession just seeing that.
August 17, 2007 at 8:03 AM in reply to: The Funeral – “It’s all over,” he said, and drove away. #76933Participantloot the FDIC insured bank to continue business
Exactly how S & L Crisis happened.
August 17, 2007 at 8:03 AM in reply to: The Funeral – “It’s all over,” he said, and drove away. #77055Participantloot the FDIC insured bank to continue business
Exactly how S & L Crisis happened.
August 17, 2007 at 8:03 AM in reply to: The Funeral – “It’s all over,” he said, and drove away. #77080Participantloot the FDIC insured bank to continue business
Exactly how S & L Crisis happened.
ParticipantBernake is an idiot.
One of the FED governors had promised to cut the rate if there is a "Calamity". Run on Countrywide (and I read a bit on ETRADE too) was a "Calamity". Having seen S&L, I agree with him that a run on a major bank is a Calamity.
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