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Ben Bernanke FTMFW Quote Of The Day
And the winner is...
- BERNANKE: HOUSING MAY NO LONGER BE VIEWED AS SECURE INVESTMENT
That's right. He just said that. And with that, a Lewis Black moment is coming on...
He also said some other stuff.
- BERNANKE SAYS HOUSING IMPEDING FED EFFORT TO SPUR U.S. ECONOMY
- BERNANKE SAYS HOUSING SECTOR SUFFERS FROM `SERIOUS IMBALANCES'
- BERNANKE SAYS HOUSING IMPEDING FED EFFORT TO SPUR U.S. ECONOMY
- BERNANKE SPEAKS ABOUT HOUSING MARKETS IN ORLANDO, FLORIDA
- BERNANKE: TIGHT MORTGAGE CREDIT WON'T BE EASED QUICKLY, EASILY
As a reminder, shadow inventory is now at a record high. But Cramer just called the housing bottom. For the 7th time. For the masochists among our readers, his complete comments can be found here.
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If Bernanke is not able to stop deflation of the housing market, then there's only one solution: complete nationalization of the U.S. housing sector.
Seriously, though... he's saying he thinks the housing sector could take down banking, isn't he? He's asking policy makers for help in stopping deflation of the housing sector. And Obama's administration is bound to respond quite aggressively.
BERNANKE SAYS HOUSING SECTOR SUFFERS FROM `SERIOUS IMBALANCES'
geee, where these imbalances came from, one would wonder....
(July, 2005) "We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow.”
(February 15, 2006) "Housing markets are cooling a bit. Our expectation is that the decline in activity or the slowing in activity will be moderate, that house prices will probably continue to rise."
(May 17, 2007) "All that said, given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited... Past gains in house prices have left most homeowners with significant amounts of home equity, and growth in jobs and incomes should help keep the financial obligations of most households manageable."
[your avatar is one of my fave pics!]
exactly!
so let's give these clowns another "try"?
whoooooahhh, nellie!!!
ha ha ha... the words of the High Priest has no accountability, basically he can just say anything as he wishes... and so far he is untouchable!! His predecessors too.
The similar things also happen to the bunch of High Lieutenants (needless to say about the Chief Lieutenants), they can just say anything. Simply no accountability. No consequence! Repeatedly, years over years... that's what we see in (at least) the half a century!
I often have Lewis Black moments, sometimes everyday. Which is why I got to like the guy, heh someone that goes off the deepend like me. Wife is the real fan, she does her best to get his face between her tits everytime he's here on concert. I don't really care, go for it lol just write me a check im much cheaper than 1 million.
FTMFW IS CRAMER SAYING BUY LEHMAN...BUY HOUSING....BUY ANY DAMN THING BECAUSE , HELL I DONT KNOW I AM A LICKSPITTLE FASCIST DEMOCRAT!!!!1
I don't know how Bernanke gets away without being challenged on how he has ultimately screwed our country to the point of no return. He has literally allowed the government to operate without a budget with his easy monetary policy. The result now is 6 trillion more in debt in four yrs of Obama. There is little room to wiggle now and imo we are Greece in less than ten yrs because of his policy accomodations. It's shameful.
Instead of making dumb comments he should be running the printing presses. Didn't he see that the market was in the red today. Can't have that.
Loan sharks knew that if they took the dollars printing machines under their control they could suffocate the world ...they could initially suffocate USA and after taking the USA from the Americans, they could move and suffocate the whole world and take the countries from their people.
FED printed cheap money and loansharking multiplied this money in an unnatural way within the American economy boarders and they discarded them abroad so that they did not threaten USA. USA became the first state in the world with artificial “breathing”...
It cannot be possible but just in the USA for only the last year, more than one million houses were seized. It cannot be impossible but the New World has returned to tents and shelters ..has returned to the ages of Columbus. It cannot be possible that we allow to a few loan sharks looting the toils and the assets of people...
http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html
------------------------
Global Debt Crisis
Authored by PANAGIOTIS TRAIANOU
i wonder how reggie feels about yesterday's settlement announcement
Wood gets old and rots, property taxes go up. Why would I ever buy such a thing as an investment?
Shelter and to raise a family while getting ass-raped via taxes (i.e. rent/confirmation you don't own anything), sure.
All of the sudden Bernanke realizes that Pyramid schemes are Pyramid schemes. Next thing you know he'll figure out that you can't pay the interest on a loan if you only printed the principle...
The corporate insiders are selling heavily - MarketWatch (2012-02-09)
Corporate insiders are now selling their companies’ stock at a rate not seen since late last July.
That’s a scary parallel indeed, since that late-July spike in selling came just days before one of the more painful two-week periods in the stock market in years.
In early August, as you may recall, the U.S. government lost its triple-A credit rating, and the bottom dropped out of the stock market. Between the last week of July and the second week of August, the Dow Jones Industrial Average DJIA -0.69% dropped 2,000 points.
To be sure, heavy insider selling doesn’t always lead to this much market weakness, or this immediately. And there were a lot of other things going on last summer that aren’t present today.
Still, on the theory that corporate insiders — officers, directors and largest shareholders — know more about their firms’ prospects than do the rest of us, it can’t be good news that they are selling at such a heavy pace.
Consider a ratio calculated by Argus Research of the number of shares insiders have sold in the open market to the number that they have bought. Last week, according to the latest issue of Argus’ service, the Vickers Weekly Insider Report, this sell-to-buy ratio stood at 5.77-to-1. And among insiders at companies listed on the New York Stock Exchange, this ratio was even more lopsided at 8.2-to-1.
Making these recent readings even more worrisome, according to Argus Research, is that they came on markedly stepped-up activity among corporate insiders. This increases our confidence that the ratio accurately reflects prevailing sentiment among a broad cross-section of the insiders.
In fact, Vickers is so alarmed by recent insider trends that this week it is selling big chunks of its two model portfolios and putting the proceeds in cash. After the sales, its “Insider Model Portfolio” will be nearly 30% in cash and its “Risk Model Portfolio” will be more than 60% in cash.
To put recent insider behavior into context, consider what they were doing in the latter part of November, the last time I focused a column on the insider data.
In the last full week of that month, for example, the sell-to-buy ratio stood at 0.81-to-1 — a far cry from the 5.77-to-1 registered in the first week of February.
And, of course, the market is a lot higher now than where it stood then — more than 1,600 Dow points higher, in fact. (Read my Nov. 29 column, “Corporate insiders are smiling.” )
Given recent insider selling, it’s more likely that the next 1,600 point Dow move will be down than up.
- WELCOME TO THE RIGGED CASINO :) -Work, eat, sleep and surf the internet for porn in my man cave: I need a house for that?
I'll be handing my mcmansion back and walk into my rv placed on the lake shore of 6 1/2 acres. The house was only an investment in keeping the wife happy till retirement.
Fish, eat, sleep, porn then die.
Every time he opens his mouth, I open KITCO.
No Sht Ben! And this rocket scientist is running the nation's financial policy? Won't be long now. Tar Feathers Pichforks