Scaremongering
The MSM seems to have started a scaremongering approach to the credit pop. Yes, a bunch of the data is troubling, but how about this article I just saw today. Foreclosures increase West Nile Virus risk.
So not only do we need to do something NOW to prevent the entire world economy from collapsing, but we also must act now or face the thread of mosquito born illness. This is the kind of subliminal messaging that the media frequently engages in, but it's so common and innocuous that it's hard to notice.
I think reports like these are going to be more common this year, and I think the goal will be to spur action for a bailout. It's not going to work however, rather it will just cause more fear and move popular psychology closer to the bottom.
So not only do we need to do something NOW to prevent the entire world economy from collapsing, but we also must act now or face the thread of mosquito born illness. This is the kind of subliminal messaging that the media frequently engages in, but it's so common and innocuous that it's hard to notice.
I think reports like these are going to be more common this year, and I think the goal will be to spur action for a bailout. It's not going to work however, rather it will just cause more fear and move popular psychology closer to the bottom.
Comments
The Federal Government had better step in fast to prevent a further collapse in housing prices or the whole nation will disintegrate in chaos with no fireman able to douse the fires started by crack-heads squatting in unoccupied McMansions.
The degree of scaremongering seems inversely proportional to the fear of the money mongers that they won't infact have a soft landing.
Can we make an index chart out of that for further evidence?
Isn't that a self-solving problem? City has too many unoccupied homes, crack-heads move in, crack-heads destroy home and kill themselves in a fire. End result: city has right number of homes and fewer drug addicts. And besides, you destroyed a McMansion...not a house with any character.
Fahrenheit 451. What are you talking about?
I repeat, do I need to send the firemen to your house?
I've got a much better solution. Anyone who is heard grousing about the rain gets their house burned down. If you don't like our weather, you don't haven't to live here. I suggest we place cameras in all personal electronics and stream the videos to a centralized authority which determines whether or not a person is grousing about the weather.
Even better, we will analyze every citizen for thoughts or opinions which denigrate the weather. The first offense gets your home burned down. The second doesn't every happen.
Gee, isn't that a "conspiracy"?
Where is FreedomLover when you need him/her/it?
Perhaps I (intentionally) used a stronger term than I really believe, but you'd have to agree that a number of topics are now being linked to the crash. And I personally think that one of the motivations for that (in addition to ratings) is to scare people into action based on the far reaching effects of a full blown credit crash.
Huh?!? I was suggesting a solution, so unless you are referring to a history nonfiction book written in the future, I'm not sure what you are talking about.
Yes, let's call it 2084.
Oh I'm here when everyone needs me to add fuel to the scaremongering fire. Great Depression 2.0 here we come!~ :P :P :P :P
Speaking of conspiracies! FreedomLover, 3 tongue-sticky-outies should be enough for anyone. Do you expect me to believe that you are sure enough about Great Depression 2.0 to do 4 Bronx Cheers? I'm flabbergasted.
Oh every thing's imploding. Finance, retail, tech-sector. It's all going down man. Didn't you read the story that food stamp applications at an all time high? Prepare for soup kitchens and shanty-towns. Aka Bush-villes. What we need is MASSIVE investment in infrastructure(mass transit, green power).
Finance is actually beginning to show signs of strength as the banks a doing good evaluations on new clients and current clients are getting a break when they can.
Food stamps is such a good indicator of economy, makes me want to just wear a tin foil hat and sit in front of all of these indicators.
Lets just all get our clogs on, grow our hair, and get on mass transit with green power ASAP.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/04/23/BAIU10ALDM.DTL&feed=rss.bayarea
WTF is this, a Tom & Jerry Cartoon???
Can't be. That situation actually sounds funny.
Seattle luxury-condo complex Escala will raise prices
So what's their plan?
That's right, units that couldn't sell at lower prices are not having their price raised. And Escala is quite clear about their intentions.
This summarizes the entire article. Local builders realize that people have figured out real estate is a falling asset. Their newest machination is to create a temporal wrinkle where if you buy now it's for a lower price than if you buy tomorrow. Essentially, they are trying to use fear of a higher price tomorrow to drive demand today.
But didn't we already try this? It was called THE HOUSING BUBBLE. And these are expensive units $500k-$5M. Do the people shopping for $2.5M condos really fall for this kind of ploy?
If anyone out there is seeing this article and decides they need to buy now. Don't! If you do, you are a sucker. And I have a bridge to sell you.