10-02-2008, 11:24 AM
Ok, here's a diatribe.
George Walker Bush is the greatest American president of all time.
Why? He most accurately reflects the sentiment of the American people. Which would be overfed, ignorant, entitled--arrogance. A population that is far more interested in falsehoods that they agree with than truths that are annoying. So, here we are. We payed our money, and we's took's our chances.
Being informed isn't listening to those who share your opinion--it's researching the data and forming an opinion for yourself. Hence our trouble.
So, through basically free credit and outright fraud we through tens of trillions of dollars of paper money at anyone who would sign for it. This of course created demand. Why wouldn't it? Values in near everything increased--but who cared? You could sign the paper! So, real estate especially became very overvalued, but we cannot forget those who actually owned something before the big burst could borrow against it and buy boats, Harley Davidsons, motor homes, and everything else--sure it was all overvalued, but what up?
Well, the question is HOW overvalued is it? 20 percent? That is certain. 50%? 70%? Now you start to get the picture. That house is worth exactly what some bloke at the going wage can afford. Which is, about 120000 bucks, if Fanny Mae and Freddy Mac still existed. We have a LONG way to go to get back to sensible valuations.
The Dow at 7200. Buy.
George Walker Bush is the greatest American president of all time.
Why? He most accurately reflects the sentiment of the American people. Which would be overfed, ignorant, entitled--arrogance. A population that is far more interested in falsehoods that they agree with than truths that are annoying. So, here we are. We payed our money, and we's took's our chances.
Being informed isn't listening to those who share your opinion--it's researching the data and forming an opinion for yourself. Hence our trouble.
So, through basically free credit and outright fraud we through tens of trillions of dollars of paper money at anyone who would sign for it. This of course created demand. Why wouldn't it? Values in near everything increased--but who cared? You could sign the paper! So, real estate especially became very overvalued, but we cannot forget those who actually owned something before the big burst could borrow against it and buy boats, Harley Davidsons, motor homes, and everything else--sure it was all overvalued, but what up?
Well, the question is HOW overvalued is it? 20 percent? That is certain. 50%? 70%? Now you start to get the picture. That house is worth exactly what some bloke at the going wage can afford. Which is, about 120000 bucks, if Fanny Mae and Freddy Mac still existed. We have a LONG way to go to get back to sensible valuations.
The Dow at 7200. Buy.