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"The Great American Housing Rebound"
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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Based on the artwork ~ I'm assuming that all white people live in cardboard boxes by now...
reparations bitchez!!!
Hyperinflation will mean a 2 bedroom should be worth about 1.3 million (give or take 100,00) in less than 12 months!
...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.
1.2 million will get you the package of Hot dogs... You will need to sell your call to get the rolls...
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...
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.
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.
Even the CAT is black! Someone's getting canned....
Even the swan on the roof is black. I wonder what that symbolizes?
and the dog is cross eyed
egg-scat-ly. question is : can humpty dumpty be put back together again?
They stole it from MAD magazine.
Bernanke's response: "What, me worry???"
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.
No, the squirrel is looking for nuts. He found them in the house.
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.
Mayor McBloomBerg does "blackface."
Don't drone their Big Gulps, bro!
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.
and black cat - bad omen.
and lets make that a pit bull.....
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.
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.
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.
"gotta be some kind of joke"
the whole economy is
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.
Beer reduced in price so you'll drink more and won't notice the hot dogs are made of horsemeat ?
Bloomberg limited the size to 3 bedrooms!
An 80/20 Jumbo Alt-A Option Only Arm will be required for a bungalow soon.
Heh. Welcome to London...
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.
I take it you've never been to boston, d.c., or manhattan?
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!
My dog has one that he shits at. Someone better tell BOA to order up some mutt mitts.
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....
HA HA HA
notice no cats are dumb enough to be involved with this
yea, except for the black cat, what? You a racist or somfhun?
he's just sitting aloof from it... contrast with the dog who is clearly participating, salivating even
look again...the cat is clearly a narc. <sarc>
francis-i was starting to panic-you haven't been around for a few days
Obama droned me then turned me into a newt... But I got better...
a newt?
You actually survived "Being Gingrich"?
*If you are capable of critical thinking, you are the resistance.*
For those who take francis_sawyer too seriously about anything:
~~~
http://www.youtube.com/watch?v=xzYO0joolR0
PS ~ InTheLandOfTheBlind actually 'got it' correctly...
What a great top indicator
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
This is why the banks are welcoming all foreclosures!! Welcome to Zimbabwe/Weimar...
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?
Soon these psychopaths will hire the unemployed to come to our houses & kick us square in the nads.
Did the article mention that irritating detail of 15 million empty boxes now in Shadow inventory?
Stop bringing facts into the discussion!
If Bloomberg says it it must be true
The message from the media is that all is well, and that if you're not swimming in money during this glorious recovery, you're doing something wrong.
But see, if they inflate this bubble back up again then NOBODY is underwater or in foreclosure - problem is, How to inflate wages so new buyers can qualify for loans and keep the ponzi going.
Why are all of the occupants of the house minorities?
do you mean they are the financially opressed white minority?
all the white people are living in the basement...
did black folks move in that house...fucking Barry
...Mixin' up the medicine.
Moonshine and meth are where the real money will be made in the coming years.
If you don't understand Obamanomics maybe someone will explain it to you!
Mom and dad on first floor and the kids upstairs. Just your typical American family.
it is their turn to be ripped off. the whites are toast already.
credit is not easy for most to get, if at all
many are out of work
most family incomes are lower
I guess the only ones buying are those who "occupied Wallstreet"
and this is their payoff
good job
Almost done selling my house.....I wanna GTFO! This pig needs more lipstick!
Probably regret it in 6 months... But cant blame ya...
I broke even. You have no clue. I'll buy on the cheap in 4 yrs.
hmmm... which side would I want to be on: The Fed or IridiumRebel's... Oh I'll go with the Fed!!!
Yeah it's gonna be great being unable to move or sell after the debt bomb explodes and property taxes to thru the roof. It's a fucking bubble dipshit. The fed is creating a huge problem. I'd rather be safe than sorry.
OK, if you say so! Fed says otherwise, but if it helps you sleep better at night.... Because we all know that the money they are printing will never hit the housing market-LOL!! Nice call though-Sell LOW, buy HIGH IridiumRebel!
where is the demand for homes to keep prices up? the average American is suffering from stagflation, no increase in wages/jobs and nothing for any savings.
is it just going to be wealthy investors/gubbermint taking all the housing stock and charging higher rents?
Even then, the poor tenants are the check and balance to rising prices.
Are you fucking stupid? I stated that I broke even and for purchasing my home 3.5 years ago that is saying something. Couple the fact that I have to be geographically liquid as I will be entering a law school in 2014, being tied down to a house will be hard to move. Secondly, as to your printing quip, if I were able to buy homes for rental opps, then yes you are correct. As for the single housing folks who have seen wages decrease precipitously, inflation rocking hard and energy prices making a steady climb, home ownership is simply less viable for most folks. I will be able to buy again, but the fact is that we are re-entering a recession that could work into a depression should the policy response be sub-optimal. They have said it themselves that they are out of bullets. The endless printing of money will eventually be extremely detrimental to our economy. Countless empires and countries have proven this fact. They are doing nothing to combat the systemic failure that is rapidly approaching. Again, I would rather be safe than sorry. Due to my extenuating circumstances, I simply do not want to be in the market. I hope it works out for you, but math is a motherfucker as I believe that you will find out in the future.
http://finance.yahoo.com/news/cars-increasingly-reach-many-americans-145...
In 4 yrs. you'll have the option of micro housing ala inner city blade runner or the long goodnite of soylent green. That's an optimistic view.
Nice. They even nailed the diversity quota.
Even the cat is black.
...and they used a basketball term
fuck, they'll probably use hair products next
does anyone else feel the racial overtones in this image?
i will answer myself... yes you do
Yeah! no Asians. That's Raciss.
can't decide if the lower left is asian or a member of the d ray white family
I lost all feeling years ago.
That's Mama Jane, BooBOO is taking a nap.
No turbans
Bloomberg? Rayciss?... Out of the question... Not part of his culture...
bloomberg got his little anti-gun black bitch that is going to replace Jesse JR voted in here in IL the other day using a few million $ of his judefetzen. the funny part is-the district is a shithole that he would never even drive through let alone live in.
In Apartheid Israel, Jews don't live in 'shithole' Palestinian territories... This is, of course... until they DO...
Welp. The top is in then.
"Ben, we're not closing RED again, are we, Ben?
B-b-ben..?
BEN?
BENNNNNNnnn!"
Bloomberg Bull.....
Some people aren't reading Bloomberg...
~"Billionaires Dumping Stocks, Economist Knows Why"~
http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/...
Party like its 2006!
and like the artist, marketing requires a new name
soooo I shouldn't buy that 9000 sq ft 7 bedroom 5 bath home 23 miles from my office? My wife and I love how the Walmart is only 2.2 miles away though.
Hells yeah you should! As a contractor, I can tell you those $1,000/mo utility bills and the $2,000/mo property tax payments are good for the economy.
If'n you're a really good citizen, you'll bust out a bunch of windows so they can be repaired. You could damn-near singlehandedly fix the economy on your own.
You'll be a hero.
How you gonna survive in only 9,000 sq ft?
yeah, hasn't he heard, we're drowning in oil
just as long as it has granite countertops and stainless appliances.
The dog is aghast at the idiocy!
The dog is on crack...as are the rest of them.
They didn't build that house (or buy it).
Equivalent rent to increase, real rents continue to rise.
Do you see the black cat sitting in the lower right? It's looking into your Soul, and it is a singal to Space Aliens to get out of Terra's housing bubble.
that fuckin cat is racist... get Sharpton and Jackson on the phone asap. Well... at least Sharpton as Jackson may be trying to talk his son out of blowing his brains out, or where the best cape shop in Chicago is?
Obama gonna pay my mortgage!
I have a cat that looks like the one in the cartoon.
Hey - even the cat is black!
Sorry...I stole your line above before reading this.
Are they selling crack out of that house? I can't think of any other reason for the piles of cash.
crack and hopium - a deadly combination
that's a GSE.
Breaking Bad is a great show!
How else do you think *they* could afford it?
They will need all that fiat to buy bread soon.
proof that QE is working
Here in Los Angeles I see developments that were stalled or abandoned being restarted and completed. Paving over farmland (what's left of it, anyway) has resumed, and gravel trucks are once again ruining cars on the freeway as they carelessly spill copious amounts of rocks all over the interstate. Construction in SoCal has resumed, everywhere you look.
Now someone, PLEASE, educate me. Wages are stagnant or in decline, few apart from the Chinese have cash sufficient for a downpayment, and the economy remains moribund.
WHO THE FUCK IS BUYING ALL OF THESE NEW HOUSES!?!?
In kalyforn'ya? Chinese suckers.
People with wealth that are tired of a 1% ROA. They know nothing about being a landlord. Well, not yet anyway.
Take a look at the census reports for LA suburbs. There are 98% Chinese towns.
That is your answer.
Blackrock and Jaime Dimon.
In NJ they are building condo complex(500 unit, 200 unit, 1000 units) one after another right through the real estate implosion. Since the population in NJ is declining...who in the hell are buying these places?
risk is being transferred to the private class away from banks. how?
all those who were foreclosed are now renters. They are just basically swapping homes. The hit has been taken for now by the foreclosed owners in loss of equity and also banks who were all in, and all those former homeowners are now renters in someone elses foreclosed home bought by an investor.
As our economy continues to fall, there will be plenty of rent default in the next few years, declining rents so the investors in those foreclosed homes (you need much higher equity to even get a loan) will experience much lower ROI. they'll take a hit.
We arent going to see classic inflation where wages rise and velocity/expansion of money occurs from many new loans being made. We are in stagflation where wages and investment income are flat to declining due to ZIRP, and cost of business goes up due to govt taxes/regulation etc... Tangible stuff that you need to live on will continue to rise (food, energy) as well as alternatives to currency as a store of wealth.
All it's missing is the obama phone, free healthcare and disability.
Missing?
And LIESman blowing Bernanke in the bathroom
Does anyone else get the feeling we are nearing a climax of sorts here. The morphine drip is installed and the patient is working the button taped to his palm, mainlining himself. The Great Social Network Pump is finished; this housing rebound, driven by a few P.R.C. expats and dead cat bounces in a few select areas of the U.S.A., is getting pumped for all it is worth. Japan has taken up The One's tactic of referring to the stock market levels as a sign of strength; and all around we see govts. engaged in direct pumping.
Meanwhile gasoline stays well over $4 in Kali-fornia and the working class economy hollows out like a tree infested with termites.
Washington D.C., Wall Street and Free Shit Nation are the only denizens thriving.
I think a nice tradeable short is in the wings; maybe around 153 SPY. I wanna make some money short this abortion; perhaps an unhealthy obsession but I'm not the only one I think ;)
Ominous sense of foreboding here. Glad I'm closer to the happy hunting ground than the shit show that's going to be left for the survivors. It's moving exponentially faster.
Last vestige of a desperate nation....
Cramming BS down everyone's throat and hoping half of it sticks.
So this is from "Bloomberg Business Week". It's that "Bloomberg" isn't it? You know, gun-grabbing, third-terming, soda regulating, homeless-denying authoritarian Bloomberg.
Why should anyone give Bloomberg any credibility?
He didn't write that! (just owns it)
I'll speculate that he approved of the cover at least.
He doesn't even give a glace at it I bet; all Bloomberg probably does is write/cash the checks at the end of each month for operating expenses.
He probably got a good chuckle out of it, though. The Bankster Jews (secretly) hate blacks.
Of course he did, and why wouldn't he? This depiction would seem perfectly normal to him as swimming around in mountains of cash is likely par for the course at Lil' Mike's house.
bloomturd thinks his shit doesn't stink because his olds factory is burned out by the stench of the city
BTV is a helluva lot more credible than the immature shills at CNBS(minus Santelli of course). But that isnt sayin much.
The dream of home ownership may be one of the biggest scams sold to the American pulbic.
#2 = retirement
A house with one mortgage payment of future fiat
David Lerah working for bloomberg now?
Been to Washington DC lately? Black people are living like kings in their Federal gov't jobs. This picture is entirely accurate.
I have student loans available that I could use as a down payment whenever Bernanke gives the green light.
Also, do you think they could have made their lips bigger?
Fuck Bloomberg; and I get the impression out here in CA that Feinstein had her little gun campaign jammed up her fat ass and snapped off. They failed. Take heart, lads!
it's all government workers that are in that house!
We're living a Mel Brooks movie.
Which one? 'Things Are Tough All Over' or 'High Anxiety'?
Soon to be Young Frankenstein complete with pitchforks and torches as the people storm the gates.
That's just cazy talk (can't CC a pitchfork).
Probably the most insensitive cover I've seen on a magazine in a while. Not just for the racial tones; it basically (in a visual sense) asserts that the blame on the crisis was SQUARELY on poor (ie brown) people taking on these mortagages, despite the fact that they were offered NINJA loans (No Income, No Jobs, Assets) that were OFFERED to them (by banking entities that GAMED the system, under the guise of "opportunity" to buy a home) while rating agencies (taking money under the table) rated the derivitives these MBS's were attached to as AAA (when they couldn't even be sold for Zimbabwe dollars).
And I thought the cover of the Economist was bad (another, "How DARE the people of Italy choose Democracy over Bankers" tiff:
http://t.co/25YtN5KYlV
BTW Households are taking on more debt again. I'm bullish!
http://www.businessinsider.com/household-debt-q4-2013-2
So ACORN threatening to picket and sue the racist banks if they didnt loan to what did you call them, brown people, had nothing to do with housing problem. And the fed govt demanding loans be given to these same brown people you speak of by clinton under the Housing Affordability Act had nothing to do with it either. Banks suck, but the govt and community organizers suck MOAR!
Yes, these loans were given to brown and poor people for votes. Liberal fringe groups (backed by big banks) put a "guilt trip" on policy makers to accelerate the process. Clinton/Bush did it for votes. Poor people were suckers for taking on the loans, despite them not knowing basic math. But the bankers ALSO don't know basic math, as they had NO where near the capital to handle the risk these high risk loans made.
But who is worse: the drug dealer or the addict?
The answer is neither. The answer is the entity who ALLOWS the drug dealer and addict do their business in the first place (For drugs, its the CIA; for housing, its the Federal Reserve).
When you finally figure out that the government and the banks are basically the same entity, you'll understand this better.
The CRA Act was passed ubder Carter, put on steroids by Clinton (race based...Acorn inspired), Bush was passive on the matter for the obvious reasons of Acorn, LSM etc...
Bush was the only President that did question the size / taxpayer risk of Fannie/Freddie. Same thing ..."racism" screaming fro Bwarney Frank / DEMs and LSM.
Of course it just wasn't non whoites defaulting that created credit bubble / collapse, but it was the Gresham's Law in play..."Bad money drives out good".
Securitization, collateral ratings being influenced by banks, no doc loans, robo signings... the whole system participated in the bubble. Banks made fortunes, and the MBS traders / salesmen made fortunes.
But let's understand where it started and got its legs....the CRA Act. Clinton / Rubin, Barney Frank and Chris Dodd relying on race based policies and threats to keep the gravy train moving.
Just like the Fed fiscal deficit today....just like the election / re-election of Obama.