“We’re In The Middle Of A Crash”

July 2nd, 2009 (7) Posted By Pat Dollard.


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  • falconfixer

    What kind of world will we live in when we come out of the other side of this financial crapstorm ?

  • Sully

    What happened? Barry’s new puppy dig up those ‘green shoots’?

  • mike3481

    WOW!

    Watch that video again if you want to see an example of someone who is clearly the smartest person in the room.

    I’m not a financial guy, but I know I’m fairly bright and all I could think of to reset the Real Estate market was foreclosures as quickly as possible.

    His debt to equity plan seemed to me anyways, to catch the talking heads by surprise.

    They hardly had any comeback or rebuttal to anything he said.

    Crap, now I’ve got to read his book “Black Swan”.

    http://www.amazon.com/Black-Swan-Impact-Highly-Improbable/dp/1400063515

  • Tim Roesch

    Esentially what he is saying is this:
    However much we like to think that we are somehow separate from ‘nature’ or ‘fate’, we are subject to natural laws.

    You CAN NOT have the ‘haves’ being forced to pay for an ever growing population of ‘have nots’. The ever growing population of ‘have nots’ will drag the entire system down.

    Too many in this world think that songs from the sixties (all we are saying is give peace a chance – all we need is love-) will solves problems like Tinkerbelle’s wand.

    Slogans and wishes are just that and nothing was built with them: maybe from them, but not with them.

    Hope and change are meaningless without adding the next words that have been ignored…

    Hope FOR WHAT?
    Chance TO WHAT?

  • Indy

    The country is going to hell in a hand basket, and the MSM is cheering this Marxist on.

  • TerryTate

    Converting debt to equity directly with the home owners is the only way to deliver on the promises that the government has been making, yet the government has only been bailing out the banks and trying to maintain the status quo for the elite, while letting everyone else go under.

    I have been preaching this for the last 6 months, but nobody listens. You cannot have homes losing 50% of their value and expect people to recover when they where already overleveraged in the first place. That simply cannot happen.

    I laugh every time I hear about Obama’s plans to help people save their homes. Obama has upped the maximum loan to value to 125% of the currently appraised value, but my home went from $800,000 and is now receiving offers to purchase of $350,000. How exactly do I save my home you stupid government douchebags. There is no fucking way to make that work when the best loan I can get would be $437,500 to cover an outstanding note well over that amount, especially when you begin to understand that I work in the construction industry which is now toast. How would I even qualify?

    If they had simply readjusted all of the loans using the government bailout money instead of paying off the banks, the market would have stabilized, people would have continued to work, and continued to pay the lower loan payments.

    Now, they are stuck with debt they can’t get anything for and people are going to end up losing everything. How is that going to help keep the economy rolling? How are all of you that aren’t out of work going to do once your customer bases begin to dry up or your government jobs disappear?

    I was talking to my wife, who is a teacher, and I asked her to tell me which one of our neighbors is in a job that isn’t dependent upon federal taxes for their job.

    She thought about it a minute and replied that I was the only one. Out of our immediate neighbors, the ones that cannot seem to fathom my predicament, they are all working at jobs that depend upon federal taxation. So, I asked this, if they depend upon federal taxation, and I and others like me are going out of business, then how the fuck are their salaries going to be paid once we stop providing tax money? Well, some will say they pay taxes too, but that is only if I pay them first….

    God the stupidity of it all…

  • Sully

    Someone told Barry that TARP would be helping the middle class.
    He said ‘Fuck em. Dumbfucks will believe anything. Give em Biden instead.’
    Now it’s the Communist Activists Restoring the Proletariat program.