Bush Impeachment Hearing

[uofom3]

Judging by the amount of gas guzzling SUVs and old hot rods I still see on the roads, I'm thinking people aren't hurting as bad as it's always portrayed (although it's certainly worse in bubble markets where housing has imploded).

No shit. take a trip through LA, Seattle, SFO, etc. Things aren't as bad as people make it out to be. hell, drive through north Eugene, Oregon and you won't see the "doom and gloom" and we have a reasonably fucked local economy.

[Vedubin01]

[atomic]

[Pinepig]

Beat?

I don't FEEL like I've been beaten.

You still haven't offered up a real explanation of what you do.

You haven't given up any "non-liberal media" sources that claim the economy is coming up roses, either.

You've been beaten severely by that kid from the beginning, I come to read this thread just to see the next ownage occur.

He's explained what he does on multiple occasions/posts, I can understand if he doesn't want to post much more detailed info on a public forum.

There have been many posts with facts and graphs ( yes pictures for the slow , but sadly you can't even understand those ) in this thread.

Please Lair don't let this thread die, I every time I come in and see you have posted up another beauty.

[Pinepig]

[Lair]

You've been beaten severely by that kid from the beginning, I come to read this thread just to see the next ownage occur.

That's one thing you dedicated righties have in common - the ability to deny anything.

Seems like Robert needs to get in touch with the "liberal media" and tell them that all the broken records mean nothing. I'm sure they'll be pleased to hear from an economist of his stature (assuming he works as some sort of economist - he still hasn't seen fit to tell us exactly what he does).

I'd be interested to know what sort of "certificate" he has also. Maybe his location and the demographics of his state as well.

Inflation? Did someone say "inflation"? Get a note to these liberal shills and tell them they don't know wtf they're talking about.

Rising prices stifle impact of stimulus payments

By MARTIN CRUTSINGER, AP Economics Writer
2 hours, 50 minutes ago



WASHINGTON - Rising prices, falling home values, stagnant wages and tight credit. It's a potent combination that has struck the American consumer hard.

In June, the second biggest rise in prices in nearly three decades muted the impact of billions of dollars in government stimulus payments, government figures showed Monday.

http://news.yahoo.com/s/ap/20080804/ap_on_bi_go_ec_fi/economy

[Lair]

Housing market, anyone?

US Housing Market is a Drag on the Economy

4 August 2008

The US housing downturn is expected to continue during the forseeable future, as US house prices are "nowhere near the bottom", says Alan Greenspan, former Fed chairman.

The commerce department reveals that the US economy grew at an annualised rate of 1.9% in Q2 2008. While this was faster than earlier in the year, it was actually slower than economists were predicting, mainly due to the poor performing US housing sector.

http://www.ibtimes.com/articles/20080804/market-directions.htm

Alan Greenspan agrees with ME? Holy fuck - he's an ignorant bastard too?

[Lair]

If you're that old I'm sure you'd remember the savings and loan crisis and associated recession that followed, when the fed had to take over 900+ failing banks. we seemed to have recovered from that just fine, no?

BTW, who was driving the bus during that debacle?

[gwb72tii]

Housing market, anyone?



http://www.ibtimes.com/articles/2008...directions.htm

well well well, the intellectual has finally quoted greenspan, the architect of the housing bubble. his loose money policies are the reason housing is where it is.
pinepeg hit it right on the head about him owning you. you have emotional non factual responses that do nothing to support your side.
the difference between a 25yr economist and you is that there is emperical data on his side that support his opinions, where your arguments are to quote other left leaning blogs that have no basis in fact. your side is one big happy circle of emotional cry baby blather, each supporting the other.
did u get fired by regean?

[Lair]

Is Greenspan wrong?

Have you seen me quoting blogs? Reference?

You guys can deny that the shit's about to hit the fan if you want. Makes no diff to me. I can afford to ride it out. ;)

[atomic]

Housing market, anyone?

http://www.ibtimes.com/articles/20080804/market-directions.htm

Alan Greenspan agrees with ME? Holy fuck - he's an ignorant bastard too?

The housing market problems are mainly in over valued markets in the country (LA, Las Vegas, Florida, etc...) Home sales here HAVE NOT DROPPED even 1% in value. Home sales here sometimes results in them staying on the market for an extra 2-3 months to sale. Mainly due to the credit crunch the country is in at this moment where most people either stay under the FHA cap of $271,000.00 to buy with little to NO money down, or they come up with 20% down payment with a FICO of 720+ for the jumbo loan homes. NO stated DOCS loans are far and few these days but are still out there, mainly mortgages used in today's market require full 3 year+ DOCS (which they should require).

I am still making money in this market in home sales & mortgages, amoung other ways of making money in this market. :finger:


:up: :up:

[z31maniac]

Yup, housing is still plenty strong here in the "flyover states."

[s0urce]

Yup, housing is still plenty strong here in the "flyover states."

That's because you guys define strong as anything that can withstand a tornado.

[rwh11385]

Seems like Robert needs to get in touch with the "liberal media" and tell them that all the broken records mean nothing. I'm sure they'll be pleased to hear from an economist of his stature (assuming he works as some sort of economist - he still hasn't seen fit to tell us exactly what he does).

They probably are told often that the "news" they report, however accurate in the figures, are misleading without the proper context. But they aren't out there to sell the truth, they want eyes on the TV or clicking on the articles... so they spin things for doom and gloom.

I feel that after the 2000 election "chaos" and 9/11, they are used to being on the air all the time... why the hell do we need several political / national news shows all day? They have to fill the time somehow and get people to watch, so they make everything seem important. Did you see them sitting around trying to call the primary outcomes for 12 hours straight?? If anyone has something shocking to say, they will put them on. Someone saying comforting news would make people less anxious and less determined to watch more news.

[Lair]

The housing market problems are mainly in over valued markets in the country (LA, Las Vegas, Florida, etc...) Home sales here HAVE NOT DROPPED even 1% in value. Home sales here sometimes results in them staying on the market for an extra 2-3 months to sale. Mainly due to the credit crunch the country is in at this moment where most people either stay under the FHA cap of $271,000.00 to buy with little to NO money down, or they come up with 20% down payment with a FICO of 720+ for the jumbo loan homes. NO stated DOCS loans are far and few these days but are still out there, mainly mortgages used in today's market require full 3 year+ DOCS (which they should require).

I am still making money in this market in home sales & mortgages, amoung other ways of making money in this market. :finger:


:up: :up:

I have friends who are developers, and they are losing their asses. One of them is sitting on 14 new homes that are all $500K +. Prices in my city have dropped like a rock, and inventory is stacking up. There are two new DR Horton developments close to me that are at a standstill.

I looked at a flipper last week in a great neighborhood that someone started on and bailed out of. It's only $99K, but I'm afraid to jump on it because the prices in the hood have dropped to an average of $160K - down from $200+ last year.

I don't think we've seen the bottom yet.