• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

"The Great American Housing Rebound"

Tyler Durden's picture


When it comes to provocative financial magazine covers, until now this has been the domain mostly of the Economist and Barrons. Which is why we were not surprised to see Bloomberg do all it can (and it sure can afford to do a lot) to steal the spotlight. With this week's cover page of "The Great American Housing Rebound" it may have done just that, for obvious reasons, or rather one politically uncomfortable reason. And just as expected, the blistering critique is already quite fast and certainly furious - precisely as had been intended all along.

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Thu, 02/28/2013 - 11:56 | 3285856 francis_sawyer
francis_sawyer's picture

Based on the artwork ~ I'm assuming that all white people live in cardboard boxes by now...

Thu, 02/28/2013 - 11:58 | 3285874 InTheLandOfTheBlind
InTheLandOfTheBlind's picture

reparations bitchez!!!

Thu, 02/28/2013 - 12:01 | 3285892 maxmad
maxmad's picture

Hyperinflation will mean a 2 bedroom should be worth about 1.3 million (give or take 100,00) in less than 12 months!

Thu, 02/28/2013 - 12:05 | 3285906 ShorTed
ShorTed's picture

...and the Bernankhole can finally declare "victory".  Then the debt serfs can take their $1.3M to the store for a package of hotdogs and rolls.

Thu, 02/28/2013 - 12:06 | 3285912 maxmad
maxmad's picture

1.2 million will get you the package of Hot dogs... You will need to sell your call to get the rolls...

Thu, 02/28/2013 - 12:08 | 3285923 maxmad
maxmad's picture

Of course their will be a rebound in housing (if only in paper terms), the Fed is now the largest RE owner and they are ensuring inflation...

Thu, 02/28/2013 - 12:18 | 3285954 nope-1004
nope-1004's picture

Nothing racist about the picture.... lol.

Hispanics and blacks sitting in a house wading in cash.  Seriously.... how did this get by the senior editors?  Even their faces are bubbled out of proportion.

Gotta be some kind of a joke.


Thu, 02/28/2013 - 12:24 | 3285996 Fish Gone Bad
Fish Gone Bad's picture

The Fed buys up all the mortgage backed securities, puts the tranches back together and recreates the original mortgages.  The Fed soon owns all the houses and as such, has a monopoly on their prices.

Thu, 02/28/2013 - 13:50 | 3286427 redpill
redpill's picture

Even the CAT is black!  Someone's getting canned....

Thu, 02/28/2013 - 15:11 | 3286884 AlaricBalth
AlaricBalth's picture

Even the swan on the roof is black. I wonder what that symbolizes?

Thu, 02/28/2013 - 15:45 | 3287110 Groundhog Day
Groundhog Day's picture

and the dog is cross eyed

Thu, 02/28/2013 - 13:53 | 3286453 tip e. canoe
tip e. canoe's picture

egg-scat-ly.   question is : can humpty dumpty be put back together again?

Thu, 02/28/2013 - 12:27 | 3286024 oddjob
oddjob's picture

They stole it from MAD magazine.

Thu, 02/28/2013 - 12:40 | 3286112 edb5s
edb5s's picture

Bernanke's response: "What, me worry???"

Thu, 02/28/2013 - 13:24 | 3286326 WakeUpPeeeeeople
WakeUpPeeeeeople's picture

Nobody mentioned the squirrel in the pic. Before this mess is over, a lot of folks will need to learn how to pick out a squirrel in the top of a tree if they want to put meat on the table.

Thu, 02/28/2013 - 16:00 | 3287193 Tom Terrific
Tom Terrific's picture

No, the squirrel is looking for nuts.  He found them in the house.

Thu, 02/28/2013 - 12:43 | 3286126 nope-1004
nope-1004's picture

The picture is disturbing, on so many levels.  First of all, cash is overflowing, sending the message that there is so much of it that it is worthless.  Secondly, the peep hole into this house looks to me like I'm looking through a bubble to the inside.  And third, the only piece of furniture is a lamp.  It's just so disgusting.


Thu, 02/28/2013 - 12:45 | 3286140 TruthInSunshine
TruthInSunshine's picture

Mayor McBloomBerg does "blackface."

Don't drone their Big Gulps, bro!

Thu, 02/28/2013 - 12:57 | 3286166 nope-1004
nope-1004's picture

The young girl upstairs, if portrayed exactly as she is outside the house, would be a ho.  The guy downstairs with the Pinocchio nose has obviously lied about his income and is celebrating his treasure with a pirate-like facial expression.  This is obviously a hit against the subprime borrowers, the majority of whom were lower income individuals.

Business week (as said above) is now MAD magazine.


Thu, 02/28/2013 - 12:47 | 3286153 Raymond Reason
Raymond Reason's picture

and black cat - bad omen. 

Thu, 02/28/2013 - 13:35 | 3286381 smlbizman
smlbizman's picture

and lets make that a pit bull.....

Thu, 02/28/2013 - 14:48 | 3286730 Common_Cents22
Common_Cents22's picture

its hardly worthless, the disgusting part is its being ripped off from taxpayers and hoarded by DC elite whores and their connected business elite.   But majority of Americans are too stupid to realize it until its too late.

Thu, 02/28/2013 - 12:39 | 3286104 Shizzmoney
Shizzmoney's picture

I actually think its not.

It's pretty clear that the rentiership class is getting a little sick and tried fo us "complaining" with our "facts".  Between CitiBank issuing underlying threats to the Italians after the election, or The Economist reinforcing this view that "democracy is bad for markets" - it's pretty clear that the message being pruported is: "We can divide you at any time, we think you are all stupid suckers that we own."

That's the thing about the huge lips and noses in these pictures.  A lot of folk think it's a dig on how black people actually look - it's actually a subtle dig on ALL people taking homes, that they are "suckers" (big lips = fish/whale, a common term for degenerate gamblers) and "liars" (growing noses).

They are trolling us all.

Thu, 02/28/2013 - 14:01 | 3286504 tip e. canoe
tip e. canoe's picture

They are trolling us all.

yep, they sure are.   this is why it's important for everyone not to fall into the trap of division/derision based on cultural/ethnic/class identities, if only because it's obvious TPTMB (make-believe) are pushing the meme for all it's worth.

Thu, 02/28/2013 - 12:52 | 3286171 DaveyJones
DaveyJones's picture

"gotta be some kind of joke"

the whole economy is

Thu, 02/28/2013 - 12:09 | 3285928 Dr. Richard Head
Dr. Richard Head's picture

The please explain to me why hot dogs and beer will be cheaper at Progressive Field http://www.cleveland.com/sports/index.ssf/2013/02/indians_fans_to_pay_less_at_pr.html#incart_m-rpt-2

Oh wait, the Tribe sucks, so I guess it's a supply demand issue more than anything.  Carry on. 

Thu, 02/28/2013 - 13:04 | 3286227 socalbeach
socalbeach's picture

Beer reduced in price so you'll drink more and won't notice the hot dogs are made of horsemeat ?

Thu, 02/28/2013 - 12:11 | 3285934 El Viejo
El Viejo's picture

Bloomberg limited the size to 3 bedrooms!

Thu, 02/28/2013 - 12:28 | 3286026 Dr. Richard Head
Dr. Richard Head's picture

An 80/20 Jumbo Alt-A Option Only Arm will be required for a bungalow soon.

Thu, 02/28/2013 - 12:14 | 3285950 StandardDeviant
StandardDeviant's picture

Heh.  Welcome to London...

Thu, 02/28/2013 - 13:35 | 3286378 Common_Cents22
Common_Cents22's picture

how do housing prices rise even in inflationary environment when wages/economy are stagnant?   We will be in stagflation, not some real recovery with velocity/expansion of money picking up from real loans being made.   This is nothing but ripping off average americans/taxpayers via printing, bailouts, ruining the economy, also hurting any savers with ZIRP. 

Thu, 02/28/2013 - 18:57 | 3287996 Whizbang
Whizbang's picture

I take it you've never been to boston, d.c., or manhattan?

Thu, 02/28/2013 - 12:04 | 3285903 Divided States ...
Divided States of America's picture

Even my dog has three houses, one in my backyard, one in some empty house down the street where he shares with some homeless mutt and another one in Florida when he does decides to elope with the mutt for good. Houses for everybody!

Thu, 02/28/2013 - 12:09 | 3285926 Bicycle Repairman
Bicycle Repairman's picture

My dog has one that he shits at.  Someone better tell BOA to order up some mutt mitts.

Thu, 02/28/2013 - 12:17 | 3285968 Kaiser Sousa
Kaiser Sousa's picture

divide and conquer via the race play is just another sign of desperation on behave of the bankers and the elitist...i hope us folk here at the Zero will c past it.... 

Thu, 02/28/2013 - 12:44 | 3286135 Spastica Rex
Spastica Rex's picture

i hope us folk here at the Zero will c past it.... 


Thu, 02/28/2013 - 12:06 | 3285913 icanhasbailout
icanhasbailout's picture

notice no cats are dumb enough to be involved with this

Thu, 02/28/2013 - 12:14 | 3285951 booboo
booboo's picture

yea, except for the black cat, what? You a racist or somfhun?

Thu, 02/28/2013 - 12:32 | 3286059 icanhasbailout
icanhasbailout's picture

he's just sitting aloof from it... contrast with the dog who is clearly participating, salivating even

Thu, 02/28/2013 - 12:45 | 3286143 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

look again...the cat is clearly a narc.  <sarc>

Thu, 02/28/2013 - 12:10 | 3285930 otto skorzeny
otto skorzeny's picture

francis-i was starting to panic-you haven't been around for a few days

Thu, 02/28/2013 - 12:23 | 3285990 francis_sawyer
francis_sawyer's picture

Obama droned me then turned me into a newt... But I got better...

Thu, 02/28/2013 - 12:30 | 3286040 InTheLandOfTheBlind
InTheLandOfTheBlind's picture

a newt?

Thu, 02/28/2013 - 12:34 | 3286066 Uncle Remus
Uncle Remus's picture

You actually survived "Being Gingrich"?

*If you are capable of critical thinking, you are the resistance.*

Thu, 02/28/2013 - 12:58 | 3286200 francis_sawyer
francis_sawyer's picture

For those who take francis_sawyer too seriously about anything:



PS ~ InTheLandOfTheBlind actually 'got it' correctly...

Thu, 02/28/2013 - 12:26 | 3286010 midtowng
midtowng's picture

What a great top indicator

Thu, 02/28/2013 - 11:55 | 3285857 kliguy38
kliguy38's picture

Tell it to the millions underwater on the mortgages......tell it to the millions in foreclosure.....tell it to the millions living with their parents

Thu, 02/28/2013 - 12:03 | 3285898 maxmad
maxmad's picture

This is why the banks are welcoming all foreclosures!!  Welcome to Zimbabwe/Weimar...

Thu, 02/28/2013 - 12:10 | 3285929 prains
prains's picture

How is it such a ludicrous idea like this can even get published? It can't have anything to do with the concentration of 90% of american media in the hands of 5 corporations can it?

Thu, 02/28/2013 - 12:36 | 3286084 WillyGroper
WillyGroper's picture

Soon these psychopaths will hire the unemployed to come to our houses & kick us square in the nads.

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