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November 20, 2008
This is what a crash looks like.
Crude Oil Tumbles to Lowest Since May 2005 as Consumption Drops
"Oil has dropped nearly $100 from its July record, as the world economic crisis reduced global demand growth to its weakest in 23 years. Crude oil is poised to drop 15 percent this week, the worst performance since the week ended Oct. 10. Its slide will add to concern that the U.S. economy faces deflation, threatening investment in oil and gas production projects."
Recap Asshats: Oil is a Asset like Housing and I'm willing to bet that you have gone down by 20% in the value of your home this week.
I gots me a hard on watching the implosion of the Mutant Asset Bubble and keep playing children. I will let Uncle Ernie into the playground...
Comments
I hear screams of "Please take it out!!!!!"
ROTMMFLMMFAO!!!!!!!
I told you 2 weeks ago in 3 weeks you was gonna get assraped and lookie here...
Can we say you are finished? Can we say that the Mutant Asset Bubble is over? I feel just maybe someday this war is gonna end..
Oh to the kids: Keep fucking around in my playground....
The What
Someday this war is gonna end...
Posted by: Return of The What at November 20, 2008 7:52 PM
This post makes me wonder which description of you is more apt: fucking idiot or pathetic loser.
You can and will post everyday about the demise of the MAB and what do you get out of it. Property values will go down but the people on this board aren't going anywhere. The best you have done so far is to get some people (me included) to give you props on some of your calls. But then you turn around and bring it back to this "my playground" bullshit. Brooklyn is no more yours than it is mine, which is a ridiculous statement (though I am curious about your mysterious Uncle Ernie). Yes, I think we can safely say the MAB is done, but where does that leave you What. You have nothing else to bitch about and we are all still going to be here talking about houses and gardens and such (why that pisses you off so much I have never figured out).
Anyway, get your jollies everyday posting this kind of thing, as I know you will. But know that in the long run you will have had the sum total of zero influence on my life.
Posted by: wasder at November 20, 2008 8:37 PM
"This post makes me wonder which description of you is more apt: fucking idiot or pathetic loser."
If I'm a loser and I predicted the outright collapse of the Mutant Asset Bubble and timed it, why does that make you? Most of the children was ether 1. too fucking stupid, 2. was in denial. Now the economic forces of hell is going to town on ALL ASSET CLASS! Oil is getting assraped, off by 66% in 6 months! And to think your "Investments" are safe??!!!
"But then you turn around and bring it back to this "my playground" bullshit."
Go back a read my post. I start with a subject that concerns the Mutant Asset Bubble and then my thread gets hijacked! Biff, Dave, BRG and others so the rules of engagement has change, I suggest that you don't become "Collateral Damage".
"Yes, I think we can safely say the MAB is done, but where does that leave you What. "
I will give you some insight into my game plan. I will ether 1. Buy a house so cheap that no one will believe,2. Steal a house that no one will believe 3. Do 1 &2 and get rich.
"You have nothing else to bitch about and we are all still going to be here talking about houses and gardens and such (why that pisses you off so much I have never figured out)"
Oh no Wasder... You see most of the Asshats has never experienced my New York. You see most of the Assfucks live at ground zero, my GOD help you in 2009.
"Anyway, get your jollies everyday posting this kind of thing, as I know you will. But know that in the long run you will have had the sum total of zero influence on my life."
Oh I will everyday, getting my "Jollies" off and BTW I'm in your head. If I was not, you would never post or respond to me.....
POOWED
The What (Real Estate always goes up)
Someday this war is gonna end...
Posted by: Return of The What at November 20, 2008 10:12 PM
lol...dude you are CRAZY! Why the hell are you talking about oil prices in a houseing forum anyways? ...and dont say "because it affects how people live and how they spend money on real estate"!
Posted by: nybk01 at November 20, 2008 11:00 PM
Dude, you have a way way way overinflated sense of your own influence if you think that anything you say resonates beyond these little cyber walls. I am sorry that your intelligence and self-righteous anger can't be put to better use than berating folks like me on a real estate blog, but clearly you have made a choice, as bizarre as it seems to me.
Posted by: wasder at November 20, 2008 11:48 PM
Van Halen anyone?
http://www.youtube.com/watch?v=-rLYph0J7vc
Posted by: DOW8000SP800 at November 21, 2008 12:03 AM
"Why the hell are you talking about oil prices in a houseing forum anyways? "
"Recap Asshats: Oil is a Asset like Housing and I'm willing to bet that you have gone down by 20% in the value of your home this week."
Reread.. ASSETS and ASSHATS are going to get SMASHED!!! ALL OF THEM. If you own anything thing of "value", it got cheaper this week, year and decade.
The What (But.. but..but Real Estate goes up.. Right???)
someday (soon) this war is gonna end...
Posted by: Return of The What at November 21, 2008 12:06 AM
Public Enemy - Don't Believe The Hype: Edited Master
http://www.youtube.com/watch?v=ASjH7X-jAY4
Hey DOW! You better change that name to DOW1100SP210...
The What (But.. But.. I paid 1.7 million. How can it be worth 436,000????)
The What
Someday this war is gonna end...
I think late at night is cool. The children are asleep...
Posted by: Return of The What at November 21, 2008 12:12 AM
Naw, I'm a change it to "25 to 50 percent DROP". Stocks are done. Brownstones are next up at bat and I'm Mariano Rivera.
I'm lovin' this shit.
Posted by: DOW8000SP800 at November 21, 2008 12:17 AM
DOW--I am willing to bet you made that video yourself. IF so nicely done. It has all of the graphs and charts you are so fond of and is well put together. Did you use final cut?
Posted by: wasder at November 21, 2008 12:19 AM
I'm lovin' your comically inept attempt to sound street DOW.
Posted by: wasder at November 21, 2008 12:21 AM
The Walk [away from mortgage]
http://www.youtube.com/watch?v=103iyJFFg2A
Posted by: DOW8000SP800 at November 21, 2008 12:21 AM
Naw, was. The credits at the end say...
Posted by: DOW8000SP800 at November 21, 2008 12:26 AM
Well, why does that mean that you are not long island bubble?
Posted by: wasder at November 21, 2008 12:27 AM
" Brownstones are next up at bat and I'm Mariano Rivera."
I hope you bean the mofos!
Tell ya this story. When I became a agent in Jan 2003, a 2 family in east NY was going for 90k, No Bullshit. When i became a Broker those same house was going for 499k, No Bullshit. Now the listing are expiring 2 family house 300k, No Bullshit.
I want a big house in ENY detached brick with a 2 car garage for 40k! I got that now!!!
DOW in about 2 years from now they will be begging people to buy houses! Just chill, grab a cold one and watch the implosion, it's real pretty. And watch the greedy and delusional Asshats get pounded!!
The What (But.. But.. But they told me it was safe around here)
Someday (soon) this war is gonna end...
Posted by: Return of The What at November 21, 2008 12:27 AM
"I'm lovin' your comically inept attempt to sound street DOW."
Damn! Okay, you've exposed me. I'm certified cornball.
Posted by: DOW8000SP800 at November 21, 2008 12:29 AM
That was probably the first time I even typed "Long Island" on this blog, was'.
Posted by: DOW8000SP800 at November 21, 2008 12:31 AM
How about this one!
Rare Porky the Pig Thats All Folks
http://www.youtube.com/watch?v=w7CclVneVpw&feature=related
Yeah that's the ticket
The What (But.. But.. That's my iphone)
Someday this war is gonna end...
Posted by: Return of The What at November 21, 2008 12:31 AM
I will see you nuts later. I'm going to watch The Ultimate Fighter and get some sleep. There will be time to terrorize the Asshats..
Peace, use chicken grease!
The What
Someday this war is gonna end...
Posted by: Return of The What at November 21, 2008 12:37 AM
Good night, bad boys of the blog. Your posturing and strutting has so enriched my evening. IF times get so tough as you hope for, you will both be dealing with the same crap as me. Careful what you wish for.
Posted by: wasder at November 21, 2008 12:39 AM
Nice bedtime story, ROTW. I still have a flyer from 1998 that shows brownstones (RENOVATED!!!) in Park Slope, Fort Greene, Boreum Hill, etc. going for 1/2 a mil. One day I'll post it on this forum.
Posted by: DOW8000SP800 at November 21, 2008 12:40 AM
Only because my wife has the desert eagle cocked at my temple, was'. I have to compromise and become an asshat. Damn nesting instincts. Got a spare wetsuit?
Oh well, Bed Stuy is mine when this shit bottoms out.
Posted by: DOW8000SP800 at November 21, 2008 12:47 AM
Yep that nesting instinct is the thing that will get you in the end. How that makes one a bad person is beyond me though. What?
Posted by: wasder at November 21, 2008 12:51 AM
7 posts to your own thread...as pathetic as derwood up above!!!
Don't you understand that the price of oil coming down so much is a good thing. This and the interest rate move yesterday; orchestrated by the Fed which you contend is out of money, will raise the affordability of homes.
Learn some economics Asshat.
DOW...we don't want fools like you in bed Stuy. You want him over there wasder??? "I still have a flyer from 1998 that shows brownstones (RENOVATED!!!) in Park Slope, Fort Greene, Boreum Hill, etc. going for 1/2 a mil." 19988??????!!!! You're actually a bigger fool than the What. On par with derwood though.
Posted by: daveinbedstuy at November 21, 2008 7:51 AM
I have to say I definitely get some joy watching the turds in Venezuela, Iran, and Russia drown in their oil..
Posted by: derwood at November 21, 2008 8:27 AM
OK derwood., you're coming around. LOL I agree with that wholeheartedly.
Posted by: daveinbedstuy at November 21, 2008 8:31 AM
most of these dirtbags were setting up their budgets (their military budgets) and propaganda machines based on $90 oil. So let me ask you Dave,more once again snark aside, if it will cost these guys more than the sale price to bring that crap out of the ground, the oil is essentially, at that time and place, worthless? (going back to my point about real estate)
Posted by: derwood at November 21, 2008 8:48 AM
Most oil is extracted worldwide at much, much lower prices. Remeber, oil now is back to where it was in 2004 and none of these vcountries were having problems extracting and making a profit back then. Since then they've been on a spending binge as oil rose and now the issue is that they can't fund their debt. That's a big problem and their debt (and their currencies) are largely pricing in bankruptcy.
As far as the industry, the methanol producers are all bankrupt. The next business to go will be oil sands but even those companies have extraction costs lower than where we are today.
Posted by: daveinbedstuy at November 21, 2008 8:55 AM
it will get to a point where there is no longer a profit margin..theoretically (and practically speaking) oil is going to the low 30s or lower it will get to a price point where they leave that crap in the ground, costs too much to store the stuff!! as for all of the alternative energy, as well as ethanol, wind (t.boone is out of the business now i believe) we will be saying goodbye for at least 7 years to the movement unless Obama and Waxman decide to subsidize this multi trillion dollar industry. I think Waxman coming into power spells BIG trouble for industry in these crazy times that we are going through..
Posted by: derwood at November 21, 2008 9:13 AM
Alternative energy sources are, I think,
and there is that direction which will deduce the world from crisis.
The epoch of oil and gas monopolies will end.
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