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May 17, 2009 at 11:10 AM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #400534May 17, 2009 at 11:10 AM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #400784
Rt.66
ParticipantThis new generation can work the shit out of an Xbox though…LOL
Here’s a qoute that really got me thinking:
“Debt can no longer be sold as an “asset”. It’s that simple.”
Lately selling debt has been THE US industry while we shunned real production of worthwhile stuff.
May 17, 2009 at 11:10 AM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401019ParticipantThis new generation can work the shit out of an Xbox though…LOL
Here’s a qoute that really got me thinking:
“Debt can no longer be sold as an “asset”. It’s that simple.”
Lately selling debt has been THE US industry while we shunned real production of worthwhile stuff.
May 17, 2009 at 11:10 AM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401076ParticipantThis new generation can work the shit out of an Xbox though…LOL
Here’s a qoute that really got me thinking:
“Debt can no longer be sold as an “asset”. It’s that simple.”
Lately selling debt has been THE US industry while we shunned real production of worthwhile stuff.
May 17, 2009 at 11:10 AM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401225ParticipantThis new generation can work the shit out of an Xbox though…LOL
Here’s a qoute that really got me thinking:
“Debt can no longer be sold as an “asset”. It’s that simple.”
Lately selling debt has been THE US industry while we shunned real production of worthwhile stuff.
Participant[quote=DWCAP]3) We follow a trend line that looks speciously like they line from 1991-1997. Spring rallys fizzel into fall declines as the economy just kinda sputters and frets. RE agents bottom call every spring and remain suspeciously silent as fall drops egg’s on faces. Happy talk from government is loud and perminate, as they are obviously big belivers that if everyone thinks itll all be ok, then it will regardless of everything else.
Personally, I am not waiting for a backlog of houses from the banks to magically make things change direction. They obviously have chosen to not take that path anymore. REO will trickel in at a rate that can be managed by the banks and will flow for years to come.
Id wait for two things to happen:
a) interets rates hit 5.75%+
b) October.[/quote]I agree except for the slow trickle for years. Right now the banks are like a dam for REOs. They keep getting foreclosures piling up behind the dam but only let a trickle flow out. These are not good investments for banks, and not something that’s in their best interest to hold onto. They are insolvent because of them and only something like RTC2 will solve that.
They still have a 700k strong inventory of REOs they have not sold from the 1st wave of subprime defaults and now we have much bigger waves hitting.
The Gov. and banks know there are x amount of people out there that will participate in bidding wars and buy at today’s REO prices and they want to get those people tied up before they move to more drastic measures like RTC2?
Patience will be rewarded.
Participant[quote=DWCAP]3) We follow a trend line that looks speciously like they line from 1991-1997. Spring rallys fizzel into fall declines as the economy just kinda sputters and frets. RE agents bottom call every spring and remain suspeciously silent as fall drops egg’s on faces. Happy talk from government is loud and perminate, as they are obviously big belivers that if everyone thinks itll all be ok, then it will regardless of everything else.
Personally, I am not waiting for a backlog of houses from the banks to magically make things change direction. They obviously have chosen to not take that path anymore. REO will trickel in at a rate that can be managed by the banks and will flow for years to come.
Id wait for two things to happen:
a) interets rates hit 5.75%+
b) October.[/quote]I agree except for the slow trickle for years. Right now the banks are like a dam for REOs. They keep getting foreclosures piling up behind the dam but only let a trickle flow out. These are not good investments for banks, and not something that’s in their best interest to hold onto. They are insolvent because of them and only something like RTC2 will solve that.
They still have a 700k strong inventory of REOs they have not sold from the 1st wave of subprime defaults and now we have much bigger waves hitting.
The Gov. and banks know there are x amount of people out there that will participate in bidding wars and buy at today’s REO prices and they want to get those people tied up before they move to more drastic measures like RTC2?
Patience will be rewarded.
Participant[quote=DWCAP]3) We follow a trend line that looks speciously like they line from 1991-1997. Spring rallys fizzel into fall declines as the economy just kinda sputters and frets. RE agents bottom call every spring and remain suspeciously silent as fall drops egg’s on faces. Happy talk from government is loud and perminate, as they are obviously big belivers that if everyone thinks itll all be ok, then it will regardless of everything else.
Personally, I am not waiting for a backlog of houses from the banks to magically make things change direction. They obviously have chosen to not take that path anymore. REO will trickel in at a rate that can be managed by the banks and will flow for years to come.
Id wait for two things to happen:
a) interets rates hit 5.75%+
b) October.[/quote]I agree except for the slow trickle for years. Right now the banks are like a dam for REOs. They keep getting foreclosures piling up behind the dam but only let a trickle flow out. These are not good investments for banks, and not something that’s in their best interest to hold onto. They are insolvent because of them and only something like RTC2 will solve that.
They still have a 700k strong inventory of REOs they have not sold from the 1st wave of subprime defaults and now we have much bigger waves hitting.
The Gov. and banks know there are x amount of people out there that will participate in bidding wars and buy at today’s REO prices and they want to get those people tied up before they move to more drastic measures like RTC2?
Patience will be rewarded.
Participant[quote=DWCAP]3) We follow a trend line that looks speciously like they line from 1991-1997. Spring rallys fizzel into fall declines as the economy just kinda sputters and frets. RE agents bottom call every spring and remain suspeciously silent as fall drops egg’s on faces. Happy talk from government is loud and perminate, as they are obviously big belivers that if everyone thinks itll all be ok, then it will regardless of everything else.
Personally, I am not waiting for a backlog of houses from the banks to magically make things change direction. They obviously have chosen to not take that path anymore. REO will trickel in at a rate that can be managed by the banks and will flow for years to come.
Id wait for two things to happen:
a) interets rates hit 5.75%+
b) October.[/quote]I agree except for the slow trickle for years. Right now the banks are like a dam for REOs. They keep getting foreclosures piling up behind the dam but only let a trickle flow out. These are not good investments for banks, and not something that’s in their best interest to hold onto. They are insolvent because of them and only something like RTC2 will solve that.
They still have a 700k strong inventory of REOs they have not sold from the 1st wave of subprime defaults and now we have much bigger waves hitting.
The Gov. and banks know there are x amount of people out there that will participate in bidding wars and buy at today’s REO prices and they want to get those people tied up before they move to more drastic measures like RTC2?
Patience will be rewarded.
Participant[quote=DWCAP]3) We follow a trend line that looks speciously like they line from 1991-1997. Spring rallys fizzel into fall declines as the economy just kinda sputters and frets. RE agents bottom call every spring and remain suspeciously silent as fall drops egg’s on faces. Happy talk from government is loud and perminate, as they are obviously big belivers that if everyone thinks itll all be ok, then it will regardless of everything else.
Personally, I am not waiting for a backlog of houses from the banks to magically make things change direction. They obviously have chosen to not take that path anymore. REO will trickel in at a rate that can be managed by the banks and will flow for years to come.
Id wait for two things to happen:
a) interets rates hit 5.75%+
b) October.[/quote]I agree except for the slow trickle for years. Right now the banks are like a dam for REOs. They keep getting foreclosures piling up behind the dam but only let a trickle flow out. These are not good investments for banks, and not something that’s in their best interest to hold onto. They are insolvent because of them and only something like RTC2 will solve that.
They still have a 700k strong inventory of REOs they have not sold from the 1st wave of subprime defaults and now we have much bigger waves hitting.
The Gov. and banks know there are x amount of people out there that will participate in bidding wars and buy at today’s REO prices and they want to get those people tied up before they move to more drastic measures like RTC2?
Patience will be rewarded.
May 17, 2009 at 10:43 AM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #400500Participant[quote=Arraya]
We have hugely expensive debt-addicted governments. Tax receipts are collapsing and a little birdie is squeaking about the debt spigot getting turned off.Real unemployment will be passing 20% in short order.
[/quote]Tax revenues are a huge issue no doubt! Will the Gov. just print up the shortfall? What an odd concept huh?
I attended a grad cerimony for CSUSM yesterday and at just one of two cerimonies held that day for CSUSM there were a LOT of graduates. This is going on all over the country in every city. I could not help but think about the poor job climate they were entering. Not only are they adding to the available inventory of workers in a contracting market, 401ks being bankered into 200.5ks has dwindled the retirement ranks. More coming in and less going out.
I wonder how students seeking work are included in employment numbers? Anyway, its sad.
May 17, 2009 at 10:43 AM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #400749Participant[quote=Arraya]
We have hugely expensive debt-addicted governments. Tax receipts are collapsing and a little birdie is squeaking about the debt spigot getting turned off.Real unemployment will be passing 20% in short order.
[/quote]Tax revenues are a huge issue no doubt! Will the Gov. just print up the shortfall? What an odd concept huh?
I attended a grad cerimony for CSUSM yesterday and at just one of two cerimonies held that day for CSUSM there were a LOT of graduates. This is going on all over the country in every city. I could not help but think about the poor job climate they were entering. Not only are they adding to the available inventory of workers in a contracting market, 401ks being bankered into 200.5ks has dwindled the retirement ranks. More coming in and less going out.
I wonder how students seeking work are included in employment numbers? Anyway, its sad.
May 17, 2009 at 10:43 AM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #400984Participant[quote=Arraya]
We have hugely expensive debt-addicted governments. Tax receipts are collapsing and a little birdie is squeaking about the debt spigot getting turned off.Real unemployment will be passing 20% in short order.
[/quote]Tax revenues are a huge issue no doubt! Will the Gov. just print up the shortfall? What an odd concept huh?
I attended a grad cerimony for CSUSM yesterday and at just one of two cerimonies held that day for CSUSM there were a LOT of graduates. This is going on all over the country in every city. I could not help but think about the poor job climate they were entering. Not only are they adding to the available inventory of workers in a contracting market, 401ks being bankered into 200.5ks has dwindled the retirement ranks. More coming in and less going out.
I wonder how students seeking work are included in employment numbers? Anyway, its sad.
May 17, 2009 at 10:43 AM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401041Participant[quote=Arraya]
We have hugely expensive debt-addicted governments. Tax receipts are collapsing and a little birdie is squeaking about the debt spigot getting turned off.Real unemployment will be passing 20% in short order.
[/quote]Tax revenues are a huge issue no doubt! Will the Gov. just print up the shortfall? What an odd concept huh?
I attended a grad cerimony for CSUSM yesterday and at just one of two cerimonies held that day for CSUSM there were a LOT of graduates. This is going on all over the country in every city. I could not help but think about the poor job climate they were entering. Not only are they adding to the available inventory of workers in a contracting market, 401ks being bankered into 200.5ks has dwindled the retirement ranks. More coming in and less going out.
I wonder how students seeking work are included in employment numbers? Anyway, its sad.
May 17, 2009 at 10:43 AM in reply to: “The Worst Is Yet to Come”: If You’re Not Petrified, You’re Not Paying Attention” #401190Participant[quote=Arraya]
We have hugely expensive debt-addicted governments. Tax receipts are collapsing and a little birdie is squeaking about the debt spigot getting turned off.Real unemployment will be passing 20% in short order.
[/quote]Tax revenues are a huge issue no doubt! Will the Gov. just print up the shortfall? What an odd concept huh?
I attended a grad cerimony for CSUSM yesterday and at just one of two cerimonies held that day for CSUSM there were a LOT of graduates. This is going on all over the country in every city. I could not help but think about the poor job climate they were entering. Not only are they adding to the available inventory of workers in a contracting market, 401ks being bankered into 200.5ks has dwindled the retirement ranks. More coming in and less going out.
I wonder how students seeking work are included in employment numbers? Anyway, its sad.
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