But things are unfolding about as I have foreseen.
But I would be remiss if I didn't point you to yet another magnificent Gary Kaltbaum rant from last nights' program.
EDIT 11:09 EST
Maybe I was a bit optimistic!
Friday, February 20, 2009
I Just don't Care so Much Today
I'm going to PA for a bit, and I won't be paying attention. Yea me.
But things are unfolding about as I have foreseen.
But I would be remiss if I didn't point you to yet another magnificent Gary Kaltbaum rant from last nights' program.
EDIT 11:09 EST
Maybe I was a bit optimistic!
But things are unfolding about as I have foreseen.
But I would be remiss if I didn't point you to yet another magnificent Gary Kaltbaum rant from last nights' program.
EDIT 11:09 EST
Maybe I was a bit optimistic!
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4 comments:
Hi Jon. Was prepared to listen to Gary Kaltbaum (have never heard him) but couldn't get past the ads + the *bee-you-tee-ful* repetition. (I never listen to commercial radio and rarely watch tv, which makes ads and an emphatic way of speaking hard to tolerate; I'm just not used to it.)
I have mixed feelings about Santelli.
Some of those who bought houses were deliberately misled + lied to. The housing problems (all of them, not just inadvisable loans/mortgages) must be fixed - one way or another. And as unemployment rises, more tenants will be evicted. Where are all these people going to live - in tents, like the Palestinians in Jordan, and the Sudanese et al?
Take care, Jon.
Oh yes, Urszula, I agree with you about the ads. I actually threw a couple of shows into audacity and edited out the ads (which make up a heavy percentage of the 50 min broadcast) but then I couldn't figure out how to then insert the new files back into blogger.
My feeling about the mortgage plan is fairly unambiguous. I simply don't think the mortgage market is at the bottom of this mess even though the talking heads do; I think at the bottom of this mess is the Federal Reserve and decades of government interference.
In fact, from my point of view (I rent currently), housing prices have been exploding stupidly for about 20 years, and most houses in my area are *still unaffordable*...I in fact need them to fall further here in the Northeast corridor so that I can afford a house at all!
I don't think a bear market in housing is such a big deal EXCEPT THAT THESE INSTRUMENTS TO SPECULATE IN AN IRRESPONSIBLE MANNER by banks, the Federal Government, and indirectly by State and Local governments, which tied revenue to housing prices (dumb, dumb dumb!)
So it's not that I lack sympathy for those in houses that they can't afford...but hell's bells there's an apartment next to mine that needs some love too.
I hope you have a great day, Urszula, thanks for stopping by!
...I don't think a bear market in housing is such a big deal EXCEPT THAT THESE INSTRUMENTS TO SPECULATE IN AN IRRESPONSIBLE MANNER by banks, the Federal Government, and indirectly by State and Local governments, which tied revenue to housing prices (dumb, dumb dumb!)...
try "I don't think a bear market in housing is such a big deal EXCEPT FOR THE FACT THAT THESE INSTRUMENTS WERE USING TO SPECULATE IN AN IRRESPONSIBLE MANNER...etc. etc..."
god I need coffee
unbelievable...still wrong!
...THESE INSTRUMENTS WERE USED TO SPECULATE IN AN IRRESPONSIBLE MANNER..
geez Jon you're losing your grasp today
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