Housing Bubble Bursting?

[Mike Garrett RAA]

DOW up 316 and oil down $3.35,hmmmm

 

[Greg Bell]

Looks good , all is well.Forget the declining dollar and the fact that some foreign country just bailed out Citi bank.Time to buy some condos in Florida.
Hmmm..Looks like Oct 28th 1929.Quick , buy some Beans and Ammo...

 

[murray stroupe]

Re ; patterns

DOW up 316 and oil down $3.35,hmmmm

========================
S & P 500 tracking stock ,SPY up 3.2%;
Exxon chief mentioned $30 in oil price, guess he is like us.
And prefer that business expense comes down $30 asap.LOL

 

[Amy Perkins]

Why is it that oil and gold always go together? Why is it that all this bad news about financials comes out and it is still going up????

 

[Riick]

Looks good , all is well.Forget the declining dollar and the fact that some foreign country just bailed out Citi bank.Time to buy some condos in Florida.
Hmmm..Looks like Oct 28th 1929.Quick , buy some Beans and Ammo...

Time Time Time --- Wounds all Heels ...........errr I meant to say Heals All Wounds.

A year from now it MAY be time to buy. Let the other guy pick up the 1st 15 or 20% of the rise.
From the low, there's usually plenty of upside left.
((( As if I might live long enought to collect it this time. )))

Anyone here ever read --
"Extraordinary Popular Delusions and the Madness of Crowds", by Charles Mackay ?? Fascinating what scams have been pulled over the centuries.
Book in public domain -- Free here --
http://www.gutenberg.org/browse/authors/m#a516

or heard of Jessie Livermore? ...who made maybe $100 million during the crash of 1929??

http://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore

His Book ("Reminiscences of a Stock Operator") also in public domain available online -- Free here --
http://www.mypivots.com/articles/booktext.aspx?bookname=Reminiscences%20of%20a%20Stock%20Operator

 

[Terrel L. Shields]

I have the book and its so very timely especially when you realize it is over 150 years old...

the two day rise in stocks is hardly a reason to call the "correction" over like Kudlow wants to do. Oil prices are way high and should come down and would come down if speculation was not rampant.

BTW, Country wide was down while citigroup was hot (Arab oil money buying in). CW is not considerably under $9 a share. B o A bought in at twice that.... Its a matter of time right?

 

[Randolph Kinney]

I have the book and its so very timely especially when you realize it is over 150 years old...

the two day rise in stocks is hardly a reason to call the "correction" over like Kudlow wants to do. Oil prices are way high and should come down and would come down if speculation was not rampant.

BTW, Country wide was down while citigroup was hot (Arab oil money buying in). CW is not considerably under $9 a share. B o A bought in at twice that.... Its a matter of time right?

Check out IndyMac - down for the day and closed at $7.70. Countrywide closed down for the day and closed at $8.72.

Countrywide Financial foreclosures under scrutiny: New York Times

 

[Riick]

I have the book and its so very timely especially when you realize it is over 150 years old...

Amazing isn't it how things repeat - but always with just a little twist

"Real Estate always goes up, they ain't makin' any more."
"Buy Tulips! - They're up 21 Guilders today."
"Cash is Trash, Buy Pets.com & eToys.com, they'll dominate the eyeballs."

?? Will we hear -- "They have no Bread? ... Then let them eat Cake!"

...the two day rise in stocks is hardly a reason to call the "correction" over like Kudlow wants to do.
BTW, Country wide was down while citigroup was hot (Arab oil money buying in). CW is not considerably under $9 a share. B o A bought in at twice that.... Its a matter of time right?

Time --- Wounds all Heels ...........errr error error error.
Did Kudlow actually say correction ??

++++++++++++++++++++++++++++++++++++++++++++++
Talking about history repeating itself .....to add to the mix:

"""Have a look at Murray Rothbard's "America's Great Depression", which remains the best overall account of why the stock market crash happened and what Hoover did to make everything worse.
Murray shows that the depression was not a crisis of capitalism but the result of a disastrously loose monetary policy in the 1920s.""
http://www.dailyreckoning.com/Writers/Mogambo/DREssays/MG112707.html

 

[Restrain]

In the long run, real estate is a good investment. It's when excess profits breeds excessive exhuberance in the market that you get the mess we're in. In the mid 80's, raw land was being bought all over northern DFW. Then, when the banks went down and the notes called, it was selling for as low as $0.25 on the dollar. The people who bought then have become multi-millionares on some of that land. Timing is everything

 

[Riick]

....Then, when the banks went down and the notes called, it was selling for as low as $0.25 on the dollar. The people who bought then have become multi-millionares on some of that land. Timing is everything

Amazing that the figure was $0.25 on the dollar -- that's the same number I've recently seen talkied about on "Marked to Market" CDOs.