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equalizer
ParticipantGreenspan doesn't need apologists. He worked for the Fed whose main job is to provide profits for banks so that Fed doesn't have to bail them out. He was one of the most powerful people in the world and what did the bubbleman have to say in Feb 2004?
"American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage. To the degree that households are driven by fears of payment shocks but are willing to manage their own interest rate risks, the traditional fixed-rate mortgage may be an expensive method of financing a home.
American homeowners clearly like the certainty of fixed mortgage payments. This preference is in striking contrast to the situation in some other countries, where adjustable-rate mortgages are far more common and where efforts to introduce American-type fixed-rate mortgages generally have not been successful. Fixed-rate mortgages seem unduly expensive to households in other countries. One possible reason is that these mortgages effectively charge homeowners high fees for protection against rising interest rates and for the right to refinance.”Some of his apologists claim that his statements were miscontrued. What a crock. He basically called you a moron if you went for a fixed rate loan. Even financial luddites like Suzy Orman said he was so wrong in April 2004, along with dozens of other finance journalists. So everyone misread his comments,and what did the most powerful person in the world do? He deliberately ignored the controversy and none of our DAMN media or politicians confronted him. They should be sent to Gitmo with him.
Someone please find Greenspan singing a song just like I posted Gonzales singing. Lets start the song-writing.
They call me the Maestro,
but I just wish I had half an Afro,
they said I could stop all the troubles,
but you all know that I caused all the bubbles …http://www.federalreserve.gov/boarddocs/speeches/2004/20040223/default.htm
March 22, 2007 at 7:25 PM in reply to: Homeowners, Lenders Skirt Default, May Curb U.S. Housing Slump #48300ParticipantWSJ had article in last few days that mentioned that the defaults are correlated not to sub-prime, but directly with ARMs with low teaser rates, including both prime and sub-prime!! That makes perfect sense. A person is going to default because their rates went up, generally not because their credit is perfect or not.
ParticipantWhat a shame. Enjoy reading your posts. Just because you are probably 5 years too young, you are put in a horrible predicament. In 1999, after losing out on one condo offer after another, I put a deposit for another year lease. Luckily, (I think)I pulled back deposit the next day and we got into condo a few months later and then upgraded to a house. Otherwise, I would have left just like you. I think most of us at this board are very conservative and didn’t buy a boatload of investment homes. It turns out the masses who didn’t think ending with the big profits, at least more than 2 years ago.
I have lived in several cities, Chicago, Detroit, Sandusky(OH). I think you may like Ann Arbor, MI if the prices aren’t too high. I know the Detroit suburbs are very nice and very affordable.
If we haven’t had our meetup for this quarter it would be nice to meet to hook up.Good luck.
ParticipantI can pass name of insurance broker I know , but I think armed services won’t be covered for best rates. Most of the objective financial advisor (bobbrinker.com, consumerreports, vanguard, etc) will tell you to stick to term, unless there are huge tax considerations.
Your best bet is to use USAA, they have excellent service and rates and will likely cover all. You can give Simon a call and he’ll give you the scoop.Simon Maierhofer, Founder
http://www.lifequotecenter.com
888-294-4900ParticipantTrump was the mastermind
Its obvious the king of all real estate was jealous of Silverstein. “I own this town, no one shall have a taller building than mine.”
There are the delusional and there those who hate the delusional. Like Murhy said, “Never argue with a fool, people cant tell the differnce.” Then we have bubb99, borat and zk who provided simple, rational explanation. That’s why no one will dare to agree with them. That would end the discussion! What fun would that be?
There are a few unanswered questions that cause even the real science grads grief. These have nothing to do with the story, but just present fodder for the lunatics. It would be better if these did not exist.
1. What exactly became of the alleged airline shorts investigation. Were the puts paid off? It cant be that hard to investigate. (Probably the whole story was a hoax, there was no huge volume of puts or they were bought by T.Boones Pickens)
2. Flight 93 site was bulldozed in like 1 day. First time in history, FAA (and I assume Boeing) was prevented from conducting investigation that could provide better understanding of airline disasters. The same scenario applies to Pentagon plane. These planes were flown in extreme conditions that can’t be duplicated by Boeing test pilots. Do these flights validate supercomputer simulations or could they teach Boeing how to better design planes?
3. The big fallacy here: There’s no such thing as a valid “conspiracy theory”, i.e., the govt cant keep a secret. Dr. Wattenberg, Nuclear scientist, Berkeley professor and science host of radio program on KGO, San Francisco stated one time that exact thing. As proof, he stated that one should tell a friend some secret, such as she’s having an affair and wait a while and that “secret” will get back to her. If this one example provided proof, then how did government keep secrets for 50-75 years that only get released after FOI act comes into play. AND plenty of others that get shredded before FOI can come into play. I would be happy to share a story, but then I would have to …, well you know the rest.
4. Someone here stated that Pearl Harbor was allowed to happen? Where is the proof? There are plenty of allegations, but did FOI request provide that data? Does Harvard library have that data?
ParticipantHere is link to interview with the author.
Occasionally good info at this site. I'm sure its been mentioned before.
<http://www.financialsense.com/Experts/2006/Janszen.html>
ParticipantI stopped looking at that because it seemed arbitrary, it wasn’t matching my personal obervations, but even if there are flaws in it, the long term numbers should be a good trend indicator.
ParticipantThe feds dont want to approve because of the slight budget impact on the tiny deficit problem. Americans are generally pretty tolerant and respect liberties, but there is deep seeded vitriolic disapproval of gay adoptions among most people in general.
Even if people dont say this “all the kids will see 2 dads, think its ok and pretty soon nobody will look at paris :), that’s how the Roman empire fell, etc, etc”
many people still kinda feel that way.
ParticipantI’ll try to make it, if the little youngster isnt giving me the sad face, play with me. 🙂
I was hoping sdrealtor would make it, as well as carlisle guy from across the pond.Maybe we should just put rich on all the stickers and guess on the names. might be a fun icebreaker. Like you said, people are much friendlier in person, hard to malign someone when you see them as jolly humans instead of just some matrix computer.
Participantrarely watch tv, but I actually saw the show on my rabbit ears. Yardeni did have good points, such as talk about the employment, which is still strong, but he’s the guy who was screaming about Y2K depression and now hes a permabull?
ED YARDENI: “So what’s the worst-case scenario, that instead of your place being worth $2 million, it’s only going to be worth $1.5 million and you bought it for $800,000? You’re still ahead.”
$40Billion in bonuses on wall st this year, yeah thats Billion, so NYC is totally unique. Salaries, bonuses are nowhere like that elsewhere, outside of the Google area. Yet, Yardeni still acknowledges that 2M can go to 1.5M, which is 25% drop in the strongest market in USA.
ED YARDENI: “I don’t think Americans are stupid. People aren’t just buying things that they can’t afford. Maybe a few are, but for the most part Americans are doing extremely well.”
Dr. Yardeni completed his doctoral dissertation under Professor James Tobin, a Nobel Laureate, at Yale University.
Maybe he only meet smart and rich people. Most people dont how AMRS work, dont know what 535 means, cant fill out 1040ez form. but the good Dr thinks they are budgeting well. OK.
[I once came across a 1040EZ filled out by H&R Block It was maybe 5 lines. waitress 17K income, that its, you could use telephone for that.]Participantgreat post bgates
you’ll get a lot of hugs for that post, from the women 🙂
most people here are cautious thinkers (and we’re good people,too) [name that broker ad], otherwise we’d be doubling down on condos.
ParticipantThis is all you need to know
“Owner is real estate agent. Bring all offers.”
November 11, 2006 at 7:09 PM in reply to: I couldn’t convince my neighbor there’s a housing bubble #39785Participant4plexowner
Thanks for the phys lesson. It appears that way too many people on this board are in real denial on many topics. Better to insult others than possibly modify a viewpoint.
November 11, 2006 at 6:55 PM in reply to: What Will Be Impact of Democrat House and Senate on Economy and Housing? #39783ParticipantFrom Barrons 11/13/06
"It's likely that Democrats will tread carefully over the next two years because, in the run-up to '08, they certainly don't want to be blamed for any economic slowdown.
Analysts pretty much agree on what sectors will win or lose with Democrats in control of the legislative branch. Pharmaceutical companies are high on the list of losers, since Congress may seek price concessions for drugs used in government programs like Medicaid. Merck's shares (MRK) fell 7.2% from the close of Tuesday's trading through Friday morning; Pfizer (PFE) was down 6.6%; Johnson & Johnson (JNJ) was off 4.6%. (To see how the hit to pharma stocks may present buying opportunities, see The Trader.) Restaurants, meanwhile, will be squeezed by legislation raising the minimum wage.
Oil companies will be hurt by the elimination of tax benefits or the imposition of a windfall-profit tax. Defense outfits could be wounded by a pullback in Iraq. On the other hand, alternative-energy producers might benefit from legislation to reduce U.S. oil dependency and to cut greenhouse-gas emissions; property and casualty insurers could benefit from an extension of the Terrorism Risk Insurance Act, which Democrats generally support; and mortgage lenders Fannie Mae (FNM)and Freddie Mac (FRE) could get regulatory relief.
As for a tax hike, forget about it. The lame-duck-in-chief in the White House wouldn't approve, and the Democrats' majority is too slight to override George W's veto."
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