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Economy
See other Economy Articles

Title: U.S. MAY S&P/CASE-SHILLER HOME PRICES RISE 4.6% VS YEAR AGO [African American Hating Nebby on Suicide Watch]
Source: BBG
URL Source: http://www.bloomberg.com
Published: Jul 27, 2010
Author: CARLOS TORRES
Post Date: 2010-07-27 09:07:11 by war
Keywords: None
Views: 20587
Comments: 39

Post Comment   Private Reply   Ignore Thread  


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Begin Trace Mode for Comment # 3.

#1. To: war (#0)

At some point within months, the US will have to bring Freddie, Fannie and Ginnie on the books.

At that point $7 Trillion in toxic waste will be transferred to the US.

Months later housing will be going at 50 cents of today's $.

The Bottom 90% will have Zero Equity. Zero gains for the last 40 years.

mcgowanjm  posted on  2010-07-27   9:19:54 ET  Reply   Untrace   Trace   Private Reply  


#2. To: mcgowanjm (#1)

At that point $7 Trillion in toxic waste will be transferred to the US.

Trust me when I tell you that it is already there.

war  posted on  2010-07-27   9:23:47 ET  Reply   Untrace   Trace   Private Reply  


#3. To: war (#2)

Trust me when I tell you that it is already there.

Trust me when I tell you it's not.

The moment it is, the US is out of the Mortgage bizness, and the US is All there is holding the Mortgage bizness up now.

Getting the Small People to go into debt now on a home soon to be worthless is a Ponzi.

There just isn't anyone left.

mcgowanjm  posted on  2010-07-27   9:53:32 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 3.

#4. To: All (#3)

Some seem to think that Japan just sat back and did nothing during this time. 1989 til today.

There is nothing further from the truth. Japan was the first major economy to go down the path of quantitative easing. Japan also injected enormous amounts of money into their economy to stimulate growth. Yet the above chart is rather clear in the outcome. Some point to unemployment in Japan remaining low. This is more a sleight of hand with economic data. Although the official rate is low, nearly 1 out of 3 Japanese workers are considered part-time employed. That is, no security of long-term employment.

We have seen a massive rise in the number of Americans that now work in a part-time fashion. No benefits, lower wages, and job security that is no longer an option in the longer term. It is easy to see why asset prices in Japan have remained depressed for so long. Prices in the U.S. are showing no sign of inflationary pressures because there is little mechanism to force wages up with such a giant over supply of labor in the market. This is possibly one of the major points missed by those who predict inflation or hyper-inflation in the future. Central banks can print but they can’t force wages up especially in a global market where cheap wages are the status quo.

To the contrary, banks are following the zombie like behavior of Japan banks by hoarding funds:

mcgowanjm  posted on  2010-07-27 10:00:24 ET  Reply   Untrace   Trace   Private Reply  


#5. To: mcgowanjm (#3)

Trust me when I tell you it's not.

Who funds the Fed?

war  posted on  2010-07-27 10:01:43 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 3.

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