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government solution. Check out Bailout Reader in the top right corner of their home page. They have articles going back to 2002 talking about this crisis.
Edited Jun 26 2010, 07:05 by Matty M
Yes, many of us have been talking about the impending real estate bust since 2005 and even earlier. As Josh said, anyone with common sense knew that the average blue collar worker can afford to live in a $500,000 house! The housing bubble was absolutely no different than the dot com bubble.
This is bound to happen when a central cartel of bankers control the money supply and when the books cannot even be audited by congress.
What I did not talk about was the hidden fraud at so many levels in the financial system. No one on the outside had any visibility Nike Air Max Flyknit 2016 Women's
3. Everyone is entitled to succeed in the United States. Banks who acted recklessly can fail; auto companies can fail; airlines can fail; and people can fail. When even our lowest income citizens have cell phones and big screen tv (they do), you know we have a government spending bubble of unimaginable proportions.
In 2005 I started telling my members to decrease their debt load, unload marginal properties while the prices were approaching the peak and improve their cash position. In 2006 I was talking about the coming recession when everyone else was chanting it would never happen. Through the first half of 2007 I was telling my membership to seriously consider selling most of their investments while the prices were still high.
2. We have an aging bubble of peak earners in the United States. If you plot a graph of the number of peak earners vs. the stock market, you see that the two are almost identical. It common sense that people in their peak earning years are buying the most stock and dramatically fewer peak earners will mean lower stock prices. That happened in Japan and it will happen to the United States starting NOW! (hack your watch)
Lots of people saw this coming.
to know that was happening.
It easy to find Benjamin Franklin quotes stating that the similar central banking system in Europe back then, which was being forced on the colonists, was one of the main reasons for the revolution. Though I don remember that one stated in school textbooks too much, hmmm.
this happen. Someone should have saw this brewing from the start. Why did we let this happen?
The economy that emerges will not be the same economy of the early 2000 The hot and hyped investing strategies used before won work post this recession. A return to fundamentals is the best course of action. Appreciation is nice but cash flow is required. Buy and hold investors will do well post recession if they are buying during the recession.
I find it hard to believe we let Nike Air Max Ld-zero H On Feet
Of course, all of the forward looking items are just my opinions and your actual mileage may vary.
Did I see this coming? No. I did see that housing prices would have to stabilize and new construction needed to come to a halt. But I also had no idea that anyone with a pulse could get a loan. We even had a mortgage broker around here who said he could structure mortgages around section 8 Air Max 2017 Sale allowing more folks to buy!
My thoughts on how we let the whole thing happen goes back the conception of the federal reserve system by a group of competing bankers in secrecy (all public data now). Then letting it get passed during the holidays back in the day.
I am a conspiracy theorist! They want to keep us in fear and watching TV! Global currency here we come.
Did Anyone See This Coming
The era of real estate daytrading (flipping, wholesaling, etc.) is fast coming to a close.
Did anyone see the sub prime meltdown coming?,did anyone see the housing market crash coming?,did anyone see our top financial institutes go belly up coming? and did anyone see this coming when Wall Street crashed into a brick wall?
Go Ludvig Von Mises!
That is history. The real estate bust and all the problems we have now are miniscule compared to what coming in the next few years, which is a total collapse of our government and bankruptcy of our country. If you just look at the warning signs, you see that there can be no other ending.
The most famous person who talked about Austrian economics (and was yelling as loud as he could) was Representative Ron Paul. Rep. Paul ran as a Republican in the 2008 Presidential campaign, but all the press ignored him. He was saying in the debates that we were headed for a disaster.
Then at the start of 2008 I told them it was too late if they had not already taken action and discussions turned to scooping up bargains and effectively managing their holdings to weather the economic storm.
I know it is human nature to look backwards, but that is not how you manage investments. The thing to do is take stock of where you are right now and adjust for what is coming. The US will be in a recession until the first or second quarter of 2010 AT THE EARLIEST. Depending on what governments do, it might drag out longer. The World will be in a recession until at least the beginning of 2011. Government will not solve this problem but they are going to make it much worse than it needed to be.
But I am also a fan of the 50% rule and here to invest in real estate, and anything else that still holds intrinsic value when fiat currencies are manipulated and then collapse (as they always have).
There is a group of economists that saw it coming the Austrian economists. However, they believe in free markets fixing things so nobody listens to them. Everyone wants a Nike Air Max 2016 Size 5.5
What in the hell are they thinking?
1. Nearly a quarter of our population is too lazy to work and are living on government handouts. The exact number is difficult to ascertain because the government does a good job hiding it.
Now what I see coming is the bailout bubble bursting. The government writing checks printing money until the ink supply is gone. There is going to be a shakedown. SOMEONE will have to pay for all of this. It will be you and me our kids and grand kids and great grand kids.
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