tag:blogger.com,1999:blog-6492542366661862113.post7465422750199181779..comments2023-10-31T01:32:09.169-07:00Comments on The Housing Time Bomb: It's Time For The Banks To Come CleanJeffhttp://www.blogger.com/profile/04450070920047311928noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-6492542366661862113.post-77854220802365924022010-10-20T07:19:24.963-07:002010-10-20T07:19:24.963-07:00Zander
Thats what the government is trying to do....Zander<br /><br />Thats what the government is trying to do.<br /><br />JApan has tried to do the same thing but look what's happened to their currency, home prices, and their stock market in doing so.<br /><br />Stocks and home prices are both down about 75%.<br /><br />Not sure it is worth it. Then again the alternative where everything goes boom if we expose it will not be pretty.<br /><br />I have a few friends way up the Wall St food chain that tell me I don't want to know the truth it;s so bad.<br /><br />At times I question whether I want to know.Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-83762539471812669792010-10-20T06:58:53.009-07:002010-10-20T06:58:53.009-07:00"We need to get to the bottom of this before ..."We need to get to the bottom of this before all confidence is destroyed."<br /><br />Ironically, I think the situation is so bad that not getting to the bottom of this is the only way to keep confidence in the system.<br /><br />Lets suppose that in 1901 banks had losses so large that (if they had to recognize them) they would be insolvent. If this came to light in 1901, it would cause a panic, bank runs, possibly riots on the streets, etc, etc.<br /><br />However, if this came to light not in 1901 but in say 1951, and that banks spent the last 50 years (with the silent help of the government) earning their way out of their insolvency, there would be some eyebrows raised, but otherwise, life would go on as normal. <br /><br />Thats what I expect is going on here. The losses are so large that (as jack nicholson once famously said) we "cant handle the truth" if we had to face it now. But time heals all wounds, and years from now, when we find out how deep those wounds really were, I bet they were as bad as we could imagine!Zandernoreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-17446210341386947982010-10-20T06:54:33.280-07:002010-10-20T06:54:33.280-07:00Anon 1
Thanks! I'll keep turning up the heat...Anon 1<br /><br />Thanks! I'll keep turning up the heat as things develop.<br /><br />Anon 2<br /><br />"i can only imagine the reason for the moratorium is to find ways to recover other assets of defaulters by having their cronies in congress sneak through some more crooked, fictitious laws to allow a greater umbrella of liability for defaulted homeowners.. call them 'strategic defaulters', no matter if they are or not... and enslave them for life with judgements, frozen bank accounts, and torted paychecks.// /rant off"<br /><br />Nice rant. You see the world exactly as I do.<br /><br />This is what I expect too. Being a debt slave is not where you want to be when this comes crashing down.<br /><br />"Walking away" is going to become much more difficult to do as the bank desperation increases.<br /><br />If you plan on walking on your houseit's probably best to do it now. <br /><br />Keep in mind you should always speak to a financial advisor or real estate attorney to discuss the consequences of doing so.Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-4059831350258190332010-10-20T02:42:38.234-07:002010-10-20T02:42:38.234-07:00"Think about it, a moratorium is the worst ca..."Think about it, a moratorium is the worst case scenario for the banks. They have to sit there and pay property taxes while they eat a loan that has no income coming in. <br /><br />On top of that, without anyone in the house, it's not being maintained and it becomes vulnerable to squatters, crackheads, and vandals."<br /><br />this is the problem exact. housing costs MONEY to own; once the bank acquires a home, they now have a gross negative sub zero cash flowing equity; unlike gold or stocks, housing costs money to own if you own it outright... i can only imagine the reason for the moratorium is to find ways to recover other assets of defaulters by having their cronies in congress sneak through some more crooked, fictitious laws to allow a greater umbrella of liability for defaulted homeowners.. call them 'strategic defaulters', no matter if they are or not... and enslave them for life with judgements, frozen bank accounts, and torted paychecks.// /rant offAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-1830011268623109632010-10-20T02:33:46.775-07:002010-10-20T02:33:46.775-07:00good stuff jeff; keep it upgood stuff jeff; keep it upAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-497614434141435872010-10-19T18:57:28.224-07:002010-10-19T18:57:28.224-07:00MLM
Thanks and I appreciate the feedback.
I will...MLM<br /><br />Thanks and I appreciate the feedback.<br /><br />I will do my best to keep up with this beast of a market!Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-21938601309084966132010-10-19T18:51:20.929-07:002010-10-19T18:51:20.929-07:00Great post....I really appreciate your commentary....Great post....I really appreciate your commentary. This market is insane and very difficult for the non-professional investor. Thankfully there's people like you to explain it all!MLM411noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-80252299847089485002010-10-19T16:34:38.682-07:002010-10-19T16:34:38.682-07:00CT
Thanks!
The videos should come up. I just ch...CT<br /><br />Thanks!<br /><br />The videos should come up. I just checked them. <br /><br />If anyone else is having troubles let me know.<br /><br />JJeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-14435143982796385592010-10-19T16:30:05.998-07:002010-10-19T16:30:05.998-07:00I can see the last 2 videos fine. I'm using t...I can see the last 2 videos fine. I'm using the Chrome browser on Windows 7.MAShttp://criticalmas.comnoreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-28325567088782102882010-10-19T16:03:26.418-07:002010-10-19T16:03:26.418-07:00Excellect article, but your last two videos aren&#...Excellect article, but your last two videos aren't showing up for me.<br /><br />Are they showing up for anyone else?CT-Hilltopperhttps://www.blogger.com/profile/12072957592435260585noreply@blogger.com