- advertisements -
But the people on tv told me the recession was over two years ago and to buy stocks.
Stocks are up for the day all over. How can this be?
Oil surged on the news at 9am
Now really, who would have thought that without mortgages, house prices would fall. I'm stunned I tell you, stunned...
But I don't want qe3. And most people can't afford it. It just makes food and fuel prices go up and house prices go down. Plus jobs are being lost heavy again.
Shit, chipole Mexican is now a 300 stock! Wtf?!
Why don't people care? American idol and jersey shore aren't worth the attention if you're homeless, jobless and hungry.
It's because they are homeless, jobless, and hungry. Opiate for the masses, my friend. Escape from reality...
I don't want QE3 either, but I know it's coming.
One day we will all realise that governments don't create money, they are merely the custodians of it. Only then will prices stop rising.
People don't care because you have food stamps and social security; for as long as they are fed they can be distracted with the belief that a recovery is just around the corner. They will wake up, one day...
Deflation in assets held by the common man, as well as real wages,and inflation in basic costs of living, true--how else can we keep feeding the banksters and "investors", er, I mean, the productive class?
They do own the "mass media," i.e., the "news." Not to mention the politicians who must act on it.
Yes Bob but you own the money, and if you own real money then this is the best chance you'll ever get to get ahead in this life.
Sad to say you could argue that it is not you that is getting ahead, but that the rest of humanity is discovering just how badly they have been misled and just how badly off they really are, absent credit.
Who owns the media etc is largely irrelevant if you own the money, you simply need work out how to keep hold of it...
Yes. Last stop before freefall.
Smart money shorting this rally?
dude, we get the point, stop posting
The realturd spin...
low prices means now is the time to buy
Buy I say, BUY! Please buy! Damn it! Buy! Prices are low, they'll never be this low again!
I saw a commercial on TV last night from the Realtors that stated for every house bought, two American jobs are created?
At the end of the commercial they said "Buy homes, create jobs". I wonder where that jobs formula came from? Sounded bogus to me.
The two jobs are the real estate agent and the mortgage broker. They should say the appraiser too - that would be three jobs.
It said "created" not "maintained". They were really waving the flag in the commercial. Here it is guys, now tear it apart: http://www.youtube.com/watch?v=GaHS_YXct9E
Sorry about my prior post, they say it's 2 homes sold = 1 job created.
Sounded bogus to me
It was that "saw it on TV" part that should have tipped you off.
lol...for how long? Sure, there are people who get some work in a house, but people cannot just keep fucking buying houses.
The market is effing saturated...who are these realtor idiots? Everyone who was creditworthy bought and a hell of a lot who weren't did too.
And futures jumped +10% on the news. It's great to live in America.
(Asset) Deflation &
Everyone now willing to cut their own throats, long as a stock can go up for 24 hours. Peak insanity breached.
30 months of ZIRP and the on/off of various QEs and all of the economic indicators are now rolling over.
Gold/silver to the moon and the USD to the fiat paper currency graveyard.
This is all very bullish, in this best of all possible worlds...
Prepare for unforeseen consequences. -From our mutual friend
They can raise the debt as much as they want, matters nothing. In fact I hope they go for a big one, gold silver and oil to the moon, FRN to nothing.
Copper surges higher on the news. I'm wondering if each additional dose of herion going forward, more and more only serves to prevent equity prices from turning lower while the commodity baskets lurch higher and higher. I can't imagine new highs in equities while the world is in a depression but I can imagine eqities testing and falling back from the all time highs for many years while commodities double and double again until one day we observe the slightest uptick in commercial realestate prices.
Here in AZ we are back to late 90's prices. Down 40-60% from 2006 peak depending on area and price. Foreclosure numbers continue to rise. America's largest asset class is in a death spiral, but the "wealth effect" stock market pump continues to dominate the news. CNBS spent about 2 minutes on this bad news real estate story. The old dude from S&P was on for like 15 seconds.
Bizarro day is right...I always thought those Athenians were protesting..now I know they are celebrating..why...because the other European idiots just paid their welfare for another few months.....lol.....game on folks..game on..he who dies with the most welfare wins...
maybe we need to see riots in Germany protesting giving away any more money. nothing seems to stop this market from going higher
If he who dies with the most welfare wins, the banksters are (of course) ahead of the game.
Welfare for the wealthy...printed money...oil subsidies...etc...
Rumbles from the bowels of DC suggest a brand new "Cash4ClunkerHomes" stimuli program.
yep, sound bullish...
I am waiting for Fannie and Freddie to come out with a "rent to own" program for their REO properties. Eliminates the need for a down payment, perfect credit, etc... Rentals of single family homes have increased an avg of 700K/year over the past four years.
You may be a hellva lot closer to reality than many may think!! Milestones
Imagine the "job creation" in property management and maintenance for millions of government owned "rent to own" homes. I wonder if SEIU has thought of this one to boost membership numbers?
I really don't like this new normal economy. It's painful to hear the talking heads champion stocks and recovery when we have housing collapse do broad and deep.
It's this bad with low interest rates and tax credits and all the other shit they threw at it.
I understand, but that's what talking heads do!
The teleprompters give them happy talk to repeat... that is their job.
Does SRS ever react the way you'd expect to this crap ?
SRS to ZERO!!!!!
Looks like I'm stuck mowing my in-law's vacant For Sale house lawn again this recovery summer
and I could buy you a new mower with the money I saved not paying the mortgage I haven't got on the house I don't own which has just plunged in value again resulting in another loss I haven't seen...
It's not all bad...
Over at the BlowHorn [CNBC], an upcoming segment promises to debunk the usefulness of "backwards looking economic data points." So we know that bankers are, indeed, pumping and dumping with an eye towards new their new bonus pool, as the people of the nation actually suffer from said backward looking data.
This is the period where any and all surviving credibility on the criminal lane known as Wall Street takes its last dying breaths.
As for the equity market, the razor thin bid all morning suggest FUBAR and illegal trading galore as the algos do what they get paid to do...scalp any fool actually buying into any of today's BS.
Ponzi scheme market.
Expect an announcement from Ben Bernanke...soon...an announcement of deafening silence.
maybe they could do a series debunking CEO commentary. As far as I can tell, CEO's have had no better predictive ability than anyone else, yet we listen to their every word on conference calls. maybe they could show how many CEO's were buying stocks hand over fist in 2007 and 2011 and were not able to buy any back in 2009? Guess they won't do that, as it would make a lot of their guests irrelevant.
Anyone actually buying into the stock pop may as well just jump in the Sea World great white shark tank wearing a T-bone wetsuit.
LOL! You kill me, Dog.
no doubt this will be interpreted as a just and noble reason to induce another rally...
This is great news. Bring home prices back to mid 1990's levels where average folks could actually afford to put down a decent down payment and not have to use accounting parlor tricks to buy a home.
If only people had actual savings for said down payment.
Average folks to busy paying for food and fuel.......
Just think how good the news will be for you, when the prices then go back to the mid-Eighties! Free mullet with every open house!
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.