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May 17, 2009 at 2:16 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #400648May 17, 2009 at 2:16 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #400902
Rt.66
ParticipantForrest Gump” our way back out. LOL!
My momma always said, Life is like a box of Mortgage Backed Securities…you never know if you’ll get paid back!
May 17, 2009 at 2:16 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401136ParticipantForrest Gump” our way back out. LOL!
My momma always said, Life is like a box of Mortgage Backed Securities…you never know if you’ll get paid back!
May 17, 2009 at 2:16 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401192ParticipantForrest Gump” our way back out. LOL!
My momma always said, Life is like a box of Mortgage Backed Securities…you never know if you’ll get paid back!
May 17, 2009 at 2:16 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401340ParticipantForrest Gump” our way back out. LOL!
My momma always said, Life is like a box of Mortgage Backed Securities…you never know if you’ll get paid back!
May 17, 2009 at 1:24 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #400633Participantdavelj
It’s not my statement but hows a bout we change it to:In many/most cases, either way unprecedented, many forms of debt can no longer be sold as an asset for more than a fraction of the previous determined value of said asset, to the extent that the event is historical?
Happy?
You are not saying anything everyone here does not already know, people have a filter that enables them to look at a statement and perceive the most logical intent of the statement maker. In this case I don’t think so many people see it the way you do.
Sd Realtor.
Well said. Believe it or not I don’t disagree with you so much. I’m in between the “defensible land” and “things will be fine” folks, leaning toward things will be worse than 80% of the population can imagine today. But I look at Japan and in most people’s eyes that’s a 20 year complete train wreck, but not Mad Max by any means either.Temecula being the exception. It’s gonna be the Detroit of CA and is already showing signs. I am already afraid to walk around the new mall without escort (plus it smells funny). New homes are bulldozed, entire new condo complexes are now weed farms with nasty broken chain link gates blocking entry. Schools are closing and MS13 is looking into making an offer to occupy and open a strip club. Beautiful Orange groves are now mowed down stumps or paved over abandoned dreams of more stucco palaces, eerie, surreal places with streets, yards plotted and two foot high block walls, ghostly empty.
RE I think will be the biggest shocker to JSP psyche. And you are right, gloomer news is much easier to find and post about.
May 17, 2009 at 1:24 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #400887Participantdavelj
It’s not my statement but hows a bout we change it to:In many/most cases, either way unprecedented, many forms of debt can no longer be sold as an asset for more than a fraction of the previous determined value of said asset, to the extent that the event is historical?
Happy?
You are not saying anything everyone here does not already know, people have a filter that enables them to look at a statement and perceive the most logical intent of the statement maker. In this case I don’t think so many people see it the way you do.
Sd Realtor.
Well said. Believe it or not I don’t disagree with you so much. I’m in between the “defensible land” and “things will be fine” folks, leaning toward things will be worse than 80% of the population can imagine today. But I look at Japan and in most people’s eyes that’s a 20 year complete train wreck, but not Mad Max by any means either.Temecula being the exception. It’s gonna be the Detroit of CA and is already showing signs. I am already afraid to walk around the new mall without escort (plus it smells funny). New homes are bulldozed, entire new condo complexes are now weed farms with nasty broken chain link gates blocking entry. Schools are closing and MS13 is looking into making an offer to occupy and open a strip club. Beautiful Orange groves are now mowed down stumps or paved over abandoned dreams of more stucco palaces, eerie, surreal places with streets, yards plotted and two foot high block walls, ghostly empty.
RE I think will be the biggest shocker to JSP psyche. And you are right, gloomer news is much easier to find and post about.
May 17, 2009 at 1:24 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401121Participantdavelj
It’s not my statement but hows a bout we change it to:In many/most cases, either way unprecedented, many forms of debt can no longer be sold as an asset for more than a fraction of the previous determined value of said asset, to the extent that the event is historical?
Happy?
You are not saying anything everyone here does not already know, people have a filter that enables them to look at a statement and perceive the most logical intent of the statement maker. In this case I don’t think so many people see it the way you do.
Sd Realtor.
Well said. Believe it or not I don’t disagree with you so much. I’m in between the “defensible land” and “things will be fine” folks, leaning toward things will be worse than 80% of the population can imagine today. But I look at Japan and in most people’s eyes that’s a 20 year complete train wreck, but not Mad Max by any means either.Temecula being the exception. It’s gonna be the Detroit of CA and is already showing signs. I am already afraid to walk around the new mall without escort (plus it smells funny). New homes are bulldozed, entire new condo complexes are now weed farms with nasty broken chain link gates blocking entry. Schools are closing and MS13 is looking into making an offer to occupy and open a strip club. Beautiful Orange groves are now mowed down stumps or paved over abandoned dreams of more stucco palaces, eerie, surreal places with streets, yards plotted and two foot high block walls, ghostly empty.
RE I think will be the biggest shocker to JSP psyche. And you are right, gloomer news is much easier to find and post about.
May 17, 2009 at 1:24 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401177Participantdavelj
It’s not my statement but hows a bout we change it to:In many/most cases, either way unprecedented, many forms of debt can no longer be sold as an asset for more than a fraction of the previous determined value of said asset, to the extent that the event is historical?
Happy?
You are not saying anything everyone here does not already know, people have a filter that enables them to look at a statement and perceive the most logical intent of the statement maker. In this case I don’t think so many people see it the way you do.
Sd Realtor.
Well said. Believe it or not I don’t disagree with you so much. I’m in between the “defensible land” and “things will be fine” folks, leaning toward things will be worse than 80% of the population can imagine today. But I look at Japan and in most people’s eyes that’s a 20 year complete train wreck, but not Mad Max by any means either.Temecula being the exception. It’s gonna be the Detroit of CA and is already showing signs. I am already afraid to walk around the new mall without escort (plus it smells funny). New homes are bulldozed, entire new condo complexes are now weed farms with nasty broken chain link gates blocking entry. Schools are closing and MS13 is looking into making an offer to occupy and open a strip club. Beautiful Orange groves are now mowed down stumps or paved over abandoned dreams of more stucco palaces, eerie, surreal places with streets, yards plotted and two foot high block walls, ghostly empty.
RE I think will be the biggest shocker to JSP psyche. And you are right, gloomer news is much easier to find and post about.
May 17, 2009 at 1:24 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401325Participantdavelj
It’s not my statement but hows a bout we change it to:In many/most cases, either way unprecedented, many forms of debt can no longer be sold as an asset for more than a fraction of the previous determined value of said asset, to the extent that the event is historical?
Happy?
You are not saying anything everyone here does not already know, people have a filter that enables them to look at a statement and perceive the most logical intent of the statement maker. In this case I don’t think so many people see it the way you do.
Sd Realtor.
Well said. Believe it or not I don’t disagree with you so much. I’m in between the “defensible land” and “things will be fine” folks, leaning toward things will be worse than 80% of the population can imagine today. But I look at Japan and in most people’s eyes that’s a 20 year complete train wreck, but not Mad Max by any means either.Temecula being the exception. It’s gonna be the Detroit of CA and is already showing signs. I am already afraid to walk around the new mall without escort (plus it smells funny). New homes are bulldozed, entire new condo complexes are now weed farms with nasty broken chain link gates blocking entry. Schools are closing and MS13 is looking into making an offer to occupy and open a strip club. Beautiful Orange groves are now mowed down stumps or paved over abandoned dreams of more stucco palaces, eerie, surreal places with streets, yards plotted and two foot high block walls, ghostly empty.
RE I think will be the biggest shocker to JSP psyche. And you are right, gloomer news is much easier to find and post about.
May 17, 2009 at 12:42 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #400588Participant[quote=davelj][quote=Rt.66]
“Debt can no longer be sold as an “asset”. It’s that simple.”[/quote]
What is this supposed to mean? One entity’s debt is another entity’s asset. That’s an accounting tautology. Now, if it were reworded to say, “Most debt is trading below its par value and there will be plenty of losses on these assets,” well then that makes sense. Or perhaps, “It’s much harder to sell debt today on the same terms as a few years back,” that makes sense as well. But I can tell you that there is plenty of debt being sold out there every day, even in this environment.
But, “Debt can no longer be sold as an asset”? That’s patently absurd. I’m curious as to who managed to get themselves quoted saying that.[/quote]
Umm….are you suggesting there IS a market for the Mortgage Backed Securities, Commercial Securities, Consumer Credit Securities, etc?
I heard somewhere the market froze up and they were selling for $0.05 on the dollar and there was some historic emergency and something about bailouts and printing presses.
Iceland would love to hear from you if you have some buyers lined up.
I think they were trying to make poignant statement and not stating that is the case in every circumstance today. Three years ago any kind of debt could be package up and sold to Italian retirees and English pension funds. That has changed enough to justify the statement, I think.
May 17, 2009 at 12:42 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #400838Participant[quote=davelj][quote=Rt.66]
“Debt can no longer be sold as an “asset”. It’s that simple.”[/quote]
What is this supposed to mean? One entity’s debt is another entity’s asset. That’s an accounting tautology. Now, if it were reworded to say, “Most debt is trading below its par value and there will be plenty of losses on these assets,” well then that makes sense. Or perhaps, “It’s much harder to sell debt today on the same terms as a few years back,” that makes sense as well. But I can tell you that there is plenty of debt being sold out there every day, even in this environment.
But, “Debt can no longer be sold as an asset”? That’s patently absurd. I’m curious as to who managed to get themselves quoted saying that.[/quote]
Umm….are you suggesting there IS a market for the Mortgage Backed Securities, Commercial Securities, Consumer Credit Securities, etc?
I heard somewhere the market froze up and they were selling for $0.05 on the dollar and there was some historic emergency and something about bailouts and printing presses.
Iceland would love to hear from you if you have some buyers lined up.
I think they were trying to make poignant statement and not stating that is the case in every circumstance today. Three years ago any kind of debt could be package up and sold to Italian retirees and English pension funds. That has changed enough to justify the statement, I think.
May 17, 2009 at 12:42 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401075Participant[quote=davelj][quote=Rt.66]
“Debt can no longer be sold as an “asset”. It’s that simple.”[/quote]
What is this supposed to mean? One entity’s debt is another entity’s asset. That’s an accounting tautology. Now, if it were reworded to say, “Most debt is trading below its par value and there will be plenty of losses on these assets,” well then that makes sense. Or perhaps, “It’s much harder to sell debt today on the same terms as a few years back,” that makes sense as well. But I can tell you that there is plenty of debt being sold out there every day, even in this environment.
But, “Debt can no longer be sold as an asset”? That’s patently absurd. I’m curious as to who managed to get themselves quoted saying that.[/quote]
Umm….are you suggesting there IS a market for the Mortgage Backed Securities, Commercial Securities, Consumer Credit Securities, etc?
I heard somewhere the market froze up and they were selling for $0.05 on the dollar and there was some historic emergency and something about bailouts and printing presses.
Iceland would love to hear from you if you have some buyers lined up.
I think they were trying to make poignant statement and not stating that is the case in every circumstance today. Three years ago any kind of debt could be package up and sold to Italian retirees and English pension funds. That has changed enough to justify the statement, I think.
May 17, 2009 at 12:42 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401132Participant[quote=davelj][quote=Rt.66]
“Debt can no longer be sold as an “asset”. It’s that simple.”[/quote]
What is this supposed to mean? One entity’s debt is another entity’s asset. That’s an accounting tautology. Now, if it were reworded to say, “Most debt is trading below its par value and there will be plenty of losses on these assets,” well then that makes sense. Or perhaps, “It’s much harder to sell debt today on the same terms as a few years back,” that makes sense as well. But I can tell you that there is plenty of debt being sold out there every day, even in this environment.
But, “Debt can no longer be sold as an asset”? That’s patently absurd. I’m curious as to who managed to get themselves quoted saying that.[/quote]
Umm….are you suggesting there IS a market for the Mortgage Backed Securities, Commercial Securities, Consumer Credit Securities, etc?
I heard somewhere the market froze up and they were selling for $0.05 on the dollar and there was some historic emergency and something about bailouts and printing presses.
Iceland would love to hear from you if you have some buyers lined up.
I think they were trying to make poignant statement and not stating that is the case in every circumstance today. Three years ago any kind of debt could be package up and sold to Italian retirees and English pension funds. That has changed enough to justify the statement, I think.
May 17, 2009 at 12:42 PM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401280Participant[quote=davelj][quote=Rt.66]
“Debt can no longer be sold as an “asset”. It’s that simple.”[/quote]
What is this supposed to mean? One entity’s debt is another entity’s asset. That’s an accounting tautology. Now, if it were reworded to say, “Most debt is trading below its par value and there will be plenty of losses on these assets,” well then that makes sense. Or perhaps, “It’s much harder to sell debt today on the same terms as a few years back,” that makes sense as well. But I can tell you that there is plenty of debt being sold out there every day, even in this environment.
But, “Debt can no longer be sold as an asset”? That’s patently absurd. I’m curious as to who managed to get themselves quoted saying that.[/quote]
Umm….are you suggesting there IS a market for the Mortgage Backed Securities, Commercial Securities, Consumer Credit Securities, etc?
I heard somewhere the market froze up and they were selling for $0.05 on the dollar and there was some historic emergency and something about bailouts and printing presses.
Iceland would love to hear from you if you have some buyers lined up.
I think they were trying to make poignant statement and not stating that is the case in every circumstance today. Three years ago any kind of debt could be package up and sold to Italian retirees and English pension funds. That has changed enough to justify the statement, I think.
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