sell! sell! sell!

[SteamDaddy]

here's a link to ARM resetting schedule...should be an interesting xmas for retailers that's for sure....supposed to peak in oct/november of this year

http://www.bubbleinfo.com/journal/2007/8/22/interpreting-arm-reset-chart.html

interesting take on things shows big decrease in early 2009 so might see a momentary comeback to housing at that time....but than down the road it will get worse as more resets come along.

Tiznow that is a great chart for those that can read.

We are at number 9 along the bottom of the chart. However it takes about 6 months for today's resets/foreclosures to take effect on the economy which is number 3 or March, 2007. We are only at the beginning of the highest number of housing resets of alltime!

Many people who never should have qualified for a mortgage in the first place are now going to have refinance at much higher rates and monthly payments. Many people will have lost their jobs and will lose their houses. Many will not be able to get financing due to the credit squeeze. And many more.......some who are not even yet at the refinancing stage, will simply walk away from their homes because they have fallen in value so much.

 

[tiznow]

yeah what's also interesting is the big increase in prime, agency, and option arm resetting when we get into 2009 and beyond, the subprimey's the bulk of the mess near term....long way from a housing bottom that's for sure.

 

[BASEHEAD]

Tiznow that is a great chart for those that can read.

We are at number 9 along the bottom of the chart. However it takes about 6 months for today's resets/foreclosures to take effect on the economy which is number 3 or March, 2007. We are only at the beginning of the highest number of housing resets of alltime!

Many people who never should have qualified for a mortgage in the first place are now going to have refinance at much higher rates and monthly payments. Many people will have lost their jobs and will lose their houses. Many will not be able to get financing due to the credit squeeze. And many more.......some who are not even yet at the refinancing stage, will simply walk away from their homes because they have fallen in value so much.

Yeah we'll see what toll it takes in long run but theres no guarantee that its causes anything but a hiccup in the overall scheme of it all.There are really not many meaningful indicators leaning towards a recession despite the sub prime" crisis".Back to schools # out....better than expected more or less.Unemployment back down,productivity adjusted up,consumer confidence solid,oh yeah and another "dead cat bounce" today,once again in spite of all the desperation.

I say it all the time....I hope ****** who bash this unbeleivably resilient economy are at least taking advantage of it.Sometimes you must take lemons and make lemonade.

Remember not even close every person resetting is going down for the count.Damn, if the Fed cuts the 18th and follows it up next meeting with another those folks coming up in March may have a shot at some looser refis.Sadly,Id expect to see Bush reach out even further to the unfortunate ones who buried themselves in mortgages and equity loan spending sprees.Many folks will undoubtedly be fucked and for many,it lies on their own shoulders.No amount of anecdotal gloom and doom CNN pieces about grown adults being "victimized",will convince me otherwise.Its the nature of the cycle unfortunately.


Only time will tell and if past trends are used as guidence,IMO,"every little thing is gonna be alright".

 

[BASEHEAD]

That was F-e-l-l-a-s guys that got zapped above, lest y'all think I was cursing you.

 

[VaultedTreehouse]

That was F-e-l-l-a-s guys that got zapped above, lest y'all think I was cursing you.

I did think you were cursing at us.

 

[tiznow]

if the fed cuts base you will see inflationary pressures pickup once again basehead gold 700 and oil 76 bucks....don't think they have any wiggle room to cut here but we shall see....maybe get ready for 4 dollars at the gas pump in the near future i'm sure that will really keep the economy chugging along with housing falling on its face at the same time.

stagflation along with a recession basically the outcome if they decide to start cutting rates...that's probably least painful option in the end.

maybe our multinationals can keep peddling their goods overseas with a weak dollar so their bottom line numbers are okay to keep the stock market up in dollar terms, while the american consumer falls on its face? that's about the best case scenerio i see for the stock market going forward.

 

[Brooklynbomber]

Gold over $700 today.

What reason will they give this time instead of just naming the precious metals/commodities bull run what it is...a bull market

:money:

LMFAO DAW!!!!!!!!!!!!

you wanna know what the talking heads on CNBC attributed it to?

It was "because Syria fired SAM missiles at an Israeli jet today":ughhh:

Are these fuckers really that dumb?? - or are they in on the scam??

hmmm.......me thinks it has something to do with the FED having to print up $800 billion to stave off a subprime related banking meltdown

Basic ECON 101: Supply & Demand.......the more there is of a product (in this case the USD) the less it is worth. Thus the price of gold, which is static, dramatically increases. Now, truth be told, GOLD did not go up a bit

Let's see the redneck crowd try to spin this one

 

[Willie99]

LMFAO DAW!!!!!!!!!!!!

you wanna know what the talking heads on CNBC attributed it to?

It was "because Syria fired SAM missiles at an Israeli jet today":ughhh:

Are these fuckers really that dumb?? - or are they in on the scam??

hmmm.......me thinks it has something to do with the FED having to print up $800 billion to stave off a subprime related banking meltdown

Basic ECON 101: Supply & Demand.......the more there is of a product (in this case the USD) the less it is worth. Thus the price of gold, which is static, dramatically increases. Now, truth be told, GOLD did not go up a bit

Let's see the redneck crowd try to spin this one

What do we need to spin?

The dollar is weak, great! It's Japan & China & India & Europe that are moaning. We actually reduced our trade deficit & grew our economy which just happens to give an underlying strength to the dollar.

What you going to do with gold if everything really does hit the shitter?

Gold is worth 20,000 per ounce, but the dollar is worthless, right? who gives a shit about gold than? Can you eat it? Better buy yourself a big piece of land you can farm, with deep wells and lots of firewood.

PS: We Republicans that control the wealthy suburbs of the blue states understand a weak dollar is not and bad thing and the proof is in the pudding.

"Lets see the inner city parasite crowd try to spin this one".

 

[eek.]

Gold is worth 20,000 per ounce, but the dollar is worthless, right? who gives a shit about gold than? Can you eat it? Better buy yourself a big piece of land you can farm, with deep wells and lots of firewood.

The best investment of the lot...if you can afford it.

Preferably with a bit of coastline and a wee river at the far end.

 

[Willie99]

"Better buy yourself a big piece of land you can farm, with deep wells and lots of firewood".

Of course, even if you did this, the libs around here will be knocking at your door wanting to redistribute the corn that you grew, the fish that you caught and the house that you built.

:thumbsup:

 

[SteamDaddy]

Fed injects 31.25 billion dollars into markets

The Federal Reserve added 31.25 billion dollars in temporary reserves to the US money markets Thursday in three different operations, the latest move to keep credit markets from drying up.

The New York Fed added 7.0 billion dollars in 14-day repurchase agreements, 16 billion in seven-day repurchase agreements and 8.25 billion in one-day repos.
The Fed has injected some 200 billion dollars into the financial system since August 9 in a bid to boost credit flows which have seized up due to problems linked to the distressed US mortgage market.
The US central bank typically buys billions of dollars worth of securities from major banks, pumping extra cash into the banking system, which the banks are obliged to repurchase at a later date.

http://www.breitbart.com/article.php?id=070906150105.ba6jjyzu&show_article=1

 

[SteamDaddy]

USD below magical 80

 

[Dawoofdaddy]

What you going to do with gold if everything really does hit the shitter?

Gold is worth 20,000 per ounce, but the dollar is worthless, right? who gives a shit about gold than? Can you eat it? Better buy yourself a big piece of land you can farm, with deep wells and lots of firewood.

PS: We Republicans that control the wealthy suburbs of the blue states understand a weak dollar is not and bad thing and the proof is in the pudding.

I have never understood these types of statements. Its some type of spin that has entered peoples minds.

They believe the paper money in their pockets has some constant value, when history proves it doesnt.

You will use gold do buy a greater amount of paper money to buy the things you need to support a household.

Do you eat dollar bills in your wallet?

This morning on hee haw (cnbc), its comical watching some of these pundits having to say recession. Almost like its some type of tongue twister.

People with their eyes open realize the economy has, and will continue downturning.

 

[Dawoofdaddy]

Im going to be disappointed if someone other than myself before noon today from the bear camp doesnt post the dancing man icon or a smiley face.

Nice seeing gold hold its ground today. Its about fucking time.

:money:

 

[Romanowski]

the more there is of a product (in this case the USD) the less it is worth. Thus the price of gold, which is static, dramatically increases. Now, truth be told, GOLD did not go up a bit

quoted for truth

unless you guys believe in alchemy

 

[t2050]

dawoof and other bears dont you think this market will be sideways or slightly upward till the elections? They will sellout the souls of their children to keep this market afloat till the election and keep that GDP + . I dont see any downturn happening till after the election, than watchout could be bombs away if they artificially keep this up.

 

[punter]

After last week the only precious metal I can afford is copper. It keeps going up so that 5 gallon bucket of pennies I got is looking pretty good

 

[cussin'it]

After last week the only precious metal I can afford is copper. It keeps going up so that 5 gallon bucket of pennies I got is looking pretty good

Lol, aren't they made of zinc or something and "copper coated"?

 

[Dawoofdaddy]

Only the pennies 1982 should be kept for copper value.

 

[cussin'it]

I got a bucket of those WW2 lead pennies. Reckon I could sell em to the Chinese so they can turn around and use em in kids' toy paint?