tag:blogger.com,1999:blog-2359657762730149804.post8245700602828339535..comments2024-03-28T10:34:18.365-07:00Comments on The Vulgar Curmudgeon: As I Predicted In 2009, Wall St. Investors Amassing Ridiculous Amounts Of Foreclosed Real EstatePhilhttp://www.blogger.com/profile/15695733883033137146noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-2359657762730149804.post-55064464704157808732015-05-25T10:52:09.555-07:002015-05-25T10:52:09.555-07:00The Fed wanted to prevent massive deflation that w...The Fed wanted to prevent massive deflation that would have been caused by the big banks failing, deflation that would have caused every mortgage holder in America to default and lose their home. I can't fault them for that. The problem is that, as the Fed kept patiently explaining to Congress over and over again, that money had to be taken *out* of the economy via higher taxes on the rick and corporations or it would cause asset price inflation -- i.e., bubbles. But Congress preferred printing money ("selling Treasury bonds", same thing) rather than raise taxes and start paying down the deficit (which un-prints money). Because we cannot inconvenience our cold-blooded sociopathic lizard people overlords with little things like "taxes", those are for peons, not for our overlords. <br /><br />Yeah, we are so fucked.BadTuxhttps://www.blogger.com/profile/01345749557330760251noreply@blogger.comtag:blogger.com,1999:blog-2359657762730149804.post-6362642648149246792015-05-21T20:16:10.532-07:002015-05-21T20:16:10.532-07:00So what of the small investor? I have six rent hou...So what of the small investor? I have six rent houses. Does that make me EVIL or just smart? Or maybe you are just a jealous converter of my ox and ass. The stock market is no longer user friendly for the common man as the big banks use computers that make 100s of transactions per second. Rental houses have been used since the time of Ben Franklin to pay for retirement. Careful what you wish for. The same folks whining now are the same group of suspects that whined about evil banks being to tight with their money. So Comrade Obama can to the rescue and provided ObamaLoans. Now the US taxpayer is fucked six ways from Sunday paying for defaults. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2359657762730149804.post-60167367219545248922015-05-21T17:47:29.611-07:002015-05-21T17:47:29.611-07:00Here is a very good description of what happened w...Here is a very good description of what happened with the <a href="https://www.youtube.com/watch?v=mzJmTCYmo9g" rel="nofollow"> mortgage crisis. </a> It's intended to be funny, but I'm not laughing.<br /><br />Steve Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2359657762730149804.post-80760106138891336582015-05-21T17:37:16.808-07:002015-05-21T17:37:16.808-07:00Here is a very good description of what happened w...Here is a very good description of what happened with the <a href="https://www.youtube.com/watch?v=mzJmTCYmo9g" rel="nofollow"> mortgage crisis. </a> It's intended to be funny, but I'm not laughing.<br /><br />Steve Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2359657762730149804.post-18741088150056731702015-05-21T13:26:06.835-07:002015-05-21T13:26:06.835-07:00You're absolutely right, of course.
Let me ...You're absolutely right, of course. <br /><br />Let me point out that the Federal Reserve acts as the enablers here by creating trillions of dollars out of thin air and giving it to the Too Big to Fail banks. The Fed wanted to create inflation in house prices to make mortgages look better in their numbers games. If a mortgage was for $200,000 and the house was really worth half that, they had to double the price of the house to make their little games work out. In a lot of markets, the Fed has managed to do this. <br /><br />None of it's real money or real value. It's just manipulating numbers.<br />SiGraybeardhttps://www.blogger.com/profile/00280583031339062059noreply@blogger.comtag:blogger.com,1999:blog-2359657762730149804.post-17797321603533908242015-05-21T12:55:33.520-07:002015-05-21T12:55:33.520-07:00We are fucked six ways from Sunday and there is ab...<i>We are fucked six ways from Sunday and there is absolutely nothing we can do about it.</i><br /><br />I wish I could disagree. But I can't. I've been watching the same dynamic play out, except that in some markets they don't even bother renting out the real estate they're collecting -- they just leave it vacant for a year or two to drive up rents and prices on other real estate in the market, then dump it at massive appreciation. Having renters in the condo or house would mean possible damage to the condo or house, and problems evicting them when the condo or house is sold, so it's estimated at as much as 30% of the residential properties in high-cost cities like San Francisco and New York City are vacant -- deliberately.<br />BadTuxhttps://www.blogger.com/profile/01345749557330760251noreply@blogger.comtag:blogger.com,1999:blog-2359657762730149804.post-40787232584212270292015-05-21T04:26:47.519-07:002015-05-21T04:26:47.519-07:00No big surprise there - the bankers win yet again....No big surprise there - the bankers win yet again. Back in the 1970's (I think - I was a 'yout' back then, lol), Earl Butz told U.S. farmers to 'Get Big Or Get Out'. Buy EXPENSIVE farm machinery to farm more land and make more profits. Get a loan and become rich!<br /><br />But farming isn't always a success (always a weather crisis or other snafu) and the folks who bought in big and didn't have deep pockets were foreclosed on. The bank being handed the keys, of course.<br /><br />If it ever comes down to SHTF, I expect a lot of lawyers, bankers, crooked law enforcement folks and others who take advantage of people will find themselves at the end of a rope, swinging in the air. A lot of folks who are alive are only so because killing them is again' the rules. Have a piece of advice for them from an old Who song - PUT ON MY LEAD BOOTS AND TAKE A LONG LONG DRIVE !Anonymousnoreply@blogger.com