Open House Picks: Six Months Later
Comment: Mixed bag. Open House Picks 8/22/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Mixed bag.
Open House Picks 8/22/08 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
Hey Retards! I smell napalm and it’s not good….
Pray that you don’t hear from Lt Col. Kilgore….
The What
Someday this war is gonna end…
“BHO, even assuming the worst (a depression equal to or worse than the 1930s) Bed Stuy would have to be back up to 2006 peak in 15 years.”
Not in today’s dollars. Maybe in debased 2024 dollars. This is not your run-of-the-mill housing boom/bust.
“Do you think the U.S. is entering a permanent downward spiral? I can’t think of a single developed country in the world where this has happened.”
No, but it will damn sure feel like one while we’re in it. But I do expect our situation now to rival The Great Depression. Too many parallels (negative savings rate, no regulation, easy credit, etc.) and a multiplying consensus (even Obama himself). Like WWII, I think the US will go to war with China to pull us out of this depression. I hope I’m wrong.
Damn, did everybody see that Times article about people walking away from high six figure and sometimes million dollar deposits. You know shit is about to hit the fan.
***Bid half off peak comps***
Boerum Hill,
I agree.
Too bad Obama is attempting to reduce the mortgage interest tax deduction for folks in higher income brackets as part of his proposed budget.
It nuts on the one hand to claim that the various “bailouts” and “stimulus spending” is needed to revive the housing market, and then try to pass legislation to pay for it that clearly hurts housing prices and all related businesses, directly countering one of his main reasons for the spending in the first place.
Yeah. He’s saying 1 in 3 chance the downturn goes past 2011.
“1 in 3”? Dr Doom is in an uncharacteristically optimistic mood. I put the odds as being more likely than not.
BHO wonderful analysis! I cant wait for monday because of this…
The Dow..
http://stockcharts.com/h-sc/ui?s=$INDU&p=M&b=3&g=0&id=p43740198157
We are at critical support levels! If this breaks you will smell napalm!
The What
Someday this war is gonna end..
BTW I got banned from Brooklynian.com!
Worst case scenerio in the Times today, courtesy of Nouriel Roubini, one of the few economists who has been pretty accurate about the economic situation:
“And things could get worse. We now face a 1 in 3 chance that, if appropriate policies are not put in place, this ugly U-shaped recession may turn into a more virulent L-shaped near-depression or stag-deflation (a deadly combination of economic stagnation and price deflation) like the one Japan experienced in the 1990s after its real estate and equity bubbles burst.”
I would like to know how we can have a ten-year economic crisis like the Japanese, with no layoffs, no crime, and lots of designer clothing for everyone.
another great comeback by the super “hedge fund manager” dibs! Are you that pathetic to still use “bitter renter” as a retort?
BHO, even assuming the worst (a depression equal to or worse than the 1930s) Bed Stuy would have to be back up to 2006 peak in 15 years.
Do you think the U.S. is entering a permanent downward spiral? I can’t think of a single developed country in the world where this has happened.