FreedomLover
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rose-colored-coolaid wrote: FreedomLover wrote: The single biggest reason for lack of private investment during the 1930s was uncertainty over FDR's intrusive governance in the economy. This is the elephant in the room. Like in 1929, 19…
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What nobody is willing to accept is that this depression will be the mother of all depressions. With a credit bubble inflated to $20 trillion, it will take 10-15 years to unwind. In the meantime, expect 70-80% unemployment as cascading interlock eff…
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The single biggest reason for lack of private investment during the 1930s was uncertainty over FDR's intrusive governance in the economy. This is the elephant in the room.
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The New Deal might not have brought the kind of Reagen "paper prosperity", but it made people feel better about themselves and gave them some bread and soup to eat. At the end of the day that's all that matters, if pride and full belly.
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Bottom line is that Wall Street funny money era is dead. Barack Obama is going to regulate the hell out of those greedy bastards once and for all. In fact the best thing we could do is shut it down and turn the NYSE building into a community centre.
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Notorious A.R.T. wrote: Found this article on the NY Times. People are now fighting over who gets stuck with the house http://www.nytimes.com/2008/12/30/us/30 ... odayspaper I used to think that looks were the primary thing I'm looking f…
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Renting and buying being equal in terms of monthly cost, I'd rent. Of course there are a lot of factors to consider. Like: * quality of the apartment complex(air quality, proximity to high crime area) * is it maintained or derelict * is the lan…
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Expect 20K layoffs from Boeing and 20-30K from Microsoft, with cascading effects of another 100K layoffs in the rest of the Seattle metro area in the next 18 months.
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We could be headed for Great Depression 2.0. However back then we had 80% in manufacturing/agriculture and only 20% in services. With that inverted, you might see 70% unemployment. Who needs the 'information economy' when all people really need is f…
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rose-colored-coolaid wrote: jon wrote: With new construction way down, there may be enough demand by then to absorb those houses. Those underwater owners won't be buying anytime soon, but they will be renting. I don't know how much that…
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$9K for a mansion, that is pretty sad....
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Boohoo. Fuck swindlers, I hope they get sent to federal "pound me in the ass" prison.
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OF course everyone should be bailed out for their stupid mistakes. I thought one would learn their lessons by age of 16 or so.
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david_mcmanus wrote: We've hit bottom! Buy now or be priced out forever! Unfortunately, that was my mentality back in February 2006. I've not had to pay the piper - yet.
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Charles Dean wrote: That's something I'd never heard before Billy. Very interesting. I know individual savings are also way down from where they were since 1980. Can't remember the source offhand, but personal savings for individuals in 1980 …
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sniglet wrote: We are at 153 listings on ZipRealty for 98008 today. Inventory is definitely declining for the winter. 153 is a lot. Buyer's market.
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Good riddance to another specuvestor!
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I predict Dow 4000 in 1 year.
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These days success = last man standing! :P
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Huckabee is a moron. I hope he has no chance at the 2012 nomination, or the GOP is sunk forever. Can't we just root out all the crazies first?
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It seems that some people on housing bubble blogs are almost gleeful at the prospect of mass flight from cities and a coming global economic depression. Why would they want that?
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SeattleMoose wrote: As RCC points out the "grim reaper" is loss of jobs (along with divorce, sickness, and death). NOTHING will keep someone in a house who has lost their income and who has no savings (e.g. most Americans). Housing is toast and…
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gortnerp wrote: StackThatCheez, I think you're right about the miniscule number of sold homes recently. So I am thinking that the Median Sold Price in Bellevue over the last 90 days is statistically/historically a very small a sample number th…
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I've heard some people on housing bubble forums say they won't pay more then 1982 prices.
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MSFT will simply stop hiring contractors for a year. If the global depression is worsening beyond that, expect massive layoffs.
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rose-colored-coolaid wrote: jon wrote: What region does that cover? I think it makes more sense to compare it to monthly sales rather than inventory. For KC, Sep sales were 1872. So foreclosures are 32% of that. I think that's a pretty …
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rose-colored-coolaid wrote: So, when does this become a major problem? Total King County inventory is hovering in the 12,000 area. If about 700 are foreclosures, it's about 5.5%. It doesn't sound like much, but foreclosures tend to sell at abou…
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rose-colored-coolaid wrote: Charles Dean wrote: To blame the entire collapse on one thing is a case of not being able to see the forest for the trees. Although, if I were to blame one thing, it would be leverage. That easy gained…
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Someone didn't tell BofA, Wells Fargo and JP Morgan Chase that they're dead.
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Markor wrote: Superimpose the Dow onto the national debt chart to see where the money came from that fueled the run-up since 1985. The country's future was sold to win elections. The Constitution has a major loophole. The Constitution says …