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What do you think of the Fed?


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2007 Mar 20, 8:36am   25,765 views  259 comments

by Patrick   ➕follow (59)   💰tip   ignore  

Fed seal

Is the Fed really responsible for the housing mess? They definitely contributed through their interest rate cuts, but buyers and realtors must also have some responsibility.

And is the Fed as wicked as the non-mainstream press believes? There are dozens of sites accusing the Fed of keeping the rest of us down through inflation and various shady deals, but I've never heard a really convincing explanation. As I understand it, a little inflation is good because it encourages people to invest or spend rather than simply sit on their money.

Patrick

#housing

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213   Allah   2007 Mar 21, 11:20am  

It is you guys who constantly mock the FB’s and imagine all sorts of hellish punishment for them. I have compassion for them. What that really means is that I leave them alone. They, at least enjoyed the roller coaster ride. You, on the other hand, have not lived.

Huh? How do you figure? What do you know about me? I live well, have a great family, plenty of real wealth, but best of all, I am debt free!!

214   Allah   2007 Mar 21, 11:22am  

Forsaken,

Great video! I miss your site!

215   Michael Holliday   2007 Mar 21, 11:53am  

Space_Acer Says:

“Considering all the outsourcing, I don’t see much of a future for “these kids”. We are at the very beginning of a big fallout. No one gets out of here alive!”
_____

I hope you're not right.

Unfortunately, you just might be...

Time for another chockychip cookie and some Hi-C fruit punch.

I wonder what my broke a-- neighbors are up to today?

216   Randy H   2007 Mar 21, 12:39pm  

Allah,

It is you guys who constantly mock the FB’s and imagine all sorts of hellish punishment for them.

He also charged me with being a realtor because I dared to posit that price corrections just might be sticky (almost a year ago at this point, mind you). I don't know, maybe they just aren't not sticky yet.

Filtered blog rss aggregating is essential these days. FeedDemon is your friend.

217   Peter P   2007 Mar 21, 12:44pm  

I remember your mentioning at one point that some dealership could go as low as $7K below MSRP on Lexus SUV, since we are shopping for a new car, I was wondering if you can point me to any resources. Thanks

I think that was CB. But you can start by reading newspaper for good deals, which tend to come and go.

I prefer used cars. :)

218   Claire   2007 Mar 21, 1:00pm  

OO

Two possibilities on the API score - one it's an error - two - they were all/some given the actual test to study beforehand.

219   astrid   2007 Mar 21, 1:12pm  

I had some lovely non-conventional Vietnamese friends, but I've also encountered a couple *conventional* skinny little Vietnamese girls who were borderline bitchy.

220   astrid   2007 Mar 21, 1:14pm  

Randy,

You must tell me more about this filtered blog RSS aggregate thing. That sounds very exciting. (more concentrated goofing off for me???)

221   Peter P   2007 Mar 21, 1:17pm  

Do ask for a scent strip of it if you find yourself trapped in a mall against your will.

I will keep in mind, thanks.

222   Peter P   2007 Mar 21, 1:20pm  

I do like to hike in the mall. At least there is no horse shit on the "trail". :)

223   astrid   2007 Mar 21, 1:20pm  

Space Acer,

Now there's a Web 2.0 application I hope somebody is working hard on developing! A good spell/grammar check that automatically corrects capitalization, fills in missing words, remove nonsensical sentences. Me + That might one day convince others that I have greater brain capacity than an ordinary gnat.

Or even better, an incoming email filter that condenses 2 page emails into 3 KWIC sentences.

Instanteous telepathy would be the best, of course.

224   FormerAptBroker   2007 Mar 21, 1:23pm  

After I asked about the DINK couple that bought the East Bay “McMegaMansion” (aka “TractMansion”) Randy H Says:

> I can’t tell for sure. She comes off as the type who never
> wants children; but I’ve found that’s not necessarily a
> reliable indicator.

I’ve never met a woman that just “comes off as” “the type who never wants children” since there is a very short list of women that I have met (or even heard about) who have actually said “I never want children”…

> It’s ‘Pergo’, not ‘Prego’, although we’ll pass that off
> as a Freudian faux pas, given the context.

Sorry, but remember I grew up in a neighborhood with actual top nailed hardwood floors, redwood window sills and copper gutters…

My favorite East Bay TracMansion “feature” is the plastic/foam “wood beams”
http://www.fauxwoodbeams.com/fauxbeams.php

> by the way, i often don’t use uppercase letters on
> purpose. after looking at YetAnotherCamelCaseCompany
> all day, i’m quite content to deal with the shorter end of
> the alphabet.

when u write in all lower case most people will assume that u are a younger person. i have always assumed that randy h is older than i am since he has kids, but he may be a lot younger since i just heard from a fraternity brother (that pinned his girlfriend sophomore year and got engaged before graduation) has a son that was accepted to the junior university on palo alto…

225   sfbubblebuyer   2007 Mar 21, 1:28pm  

My favorite East Bay TracMansion “feature” is the plastic/foam “wood beams”

For a second, I figured you MUST be talking about the recycled 'green' beams and was going to defend alternative and recycled building materials.

Then I clicked that link.

Useless painted styrofoam glued to your ceiling for decorative purposes? You've GOT to be sh*tting me! You know what I want? Styrofoam babies to glue to the ceiling. Because at least THOSE would be conversation starters.

226   Peter P   2007 Mar 21, 1:29pm  

I can write a software that removes 100% of all writing mistakes.

227   astrid   2007 Mar 21, 1:30pm  

FAB,

Some of my friends already have kids and the others seem quite uninterested in kids.

I'm pretty sure Randy is a couple years younger than you. He is an early Gen-Xer, while you're a very late Baby Boomer.

"that pinned his girlfriend sophomore year" I've never heard that one before, does pinned = knocked up or does pinned = hook up?

228   astrid   2007 Mar 21, 1:32pm  

"I can write a software that removes 100% of all writing mistakes."

Does it also remove 100% of all writing?

229   Peter P   2007 Mar 21, 1:38pm  

Does it also remove 100% of all writing?

That is an unfortunate side effect.

230   astrid   2007 Mar 21, 1:38pm  

What I really hate are people (usually secretaries or ditsy support desk people) who set their email (or word document) to 18 pt font Script default. That reflects really badly on both them and their bosses.

231   Peter P   2007 Mar 21, 1:40pm  

18 pt font Script

Huh? I have used 7 pt courier before. :)

232   Brand165   2007 Mar 21, 1:42pm  

If I had faux timber beams in my McMansion, after a couple of beers I might be inclined to rampage about like Godzilla, snapping 8x8 beams with my bare hands. :)

I am going to look at a loft for lease on Friday. My back of the envelope calculations are that PITI+HOA is about $1450, but rent is only $1000. Quite a premium for ownership in a 1 bed, 1 bath place. Great location though.

233   FormerAptBroker   2007 Mar 21, 1:47pm  

OO Says:

> I remember your mentioning at one point that some
> dealership could go as low as $7K below MSRP on
> Lexus SUV, since we are shopping for a new car,
> I was wondering if you can point me to any resources.

I love the current Lexus LX470 and rented the Toyota version (with the live front axle that was never available in the US) on my last dive trip down under.

The dealers will be doing everything they can to move the current models off the lot before the new model gets here (the official intro will be in a couple weeks at the NY Auto Show):
http://www.topspeed.com/cars/lexus/lexus-lx470-ar14943.html

If you buy a Lexus LX 470 it will drop like a rock in value the day you drive it off the lot (and drop even more when the LX 570 hits the road). If you wait for the new LX 570 model you will do a lot better (and get a better vehicle)…

234   Randy H   2007 Mar 21, 1:50pm  

FAB

I think you and I are on opposite sides of the cusp, as astrid says. My son is pretty young but we also got started late. We married when we were both 28, even though we'd been together since the end of school.

Any chance you'd come to a Marin Brewing Company night if we can get enough people? We need someone to pay, lol. Where I grew up the hardwood floors were top nailed too (though not much redwood), but only because the houses were 100 years old then, 30-40 years ago.

235   Peter P   2007 Mar 21, 1:53pm  

Any chance you’d come to a Marin Brewing Company night if we can get enough people?

When? If it is on a week night perhaps a party in the Ferry Building may attract more people.

We need someone to pay, lol.

Just do a Lucky (Unlucky) Draw? :)

236   astrid   2007 Mar 21, 1:54pm  

I will sulk tomorrow if Edwards drops out. Why do bad things happen to non-Stepford wives?

237   cb   2007 Mar 21, 1:55pm  

OO

Putnam Lexus has 07 RX 350 for $7000 off MSRP ($2500 under invoice) as of 2 weeks ago. If they run out of 07, I would think 08 would be around invoice or slightly (

238   cb   2007 Mar 21, 2:01pm  

OO

My last post got cutoff, if you are looking to see how much to pay for a car, go to edmunds, car talk forum, people post how much they pay for each model, it's a good resource.

BTW, Millikin in Santa Clara also has 1000 API scores or 998 or something like that, doesn't do anything for me, but everytime I say that my wife say I don't care about my kids education.

239   Peter P   2007 Mar 21, 2:03pm  

Scores are really over-rated. Education is not video game.

240   Randy H   2007 Mar 21, 2:16pm  

When? If it is on a week night perhaps a party in the Ferry Building may attract more people.

Anywhere convenient, so long as there is quality beer and wine available. I thought a Thursday or Friday night would work best. Probably not for a couple weeks yet, I'm just trying to stir up interest. We tried a year ago and it never happened.

As to who pays, I say we make surfer-X drive up and open the tab.

241   Peter P   2007 Mar 21, 2:18pm  

New thread: What is going on?

242   OO   2007 Mar 21, 2:19pm  

FAB and CB,

thanks a bunch for the advice.

243   Peter P   2007 Mar 21, 2:19pm  

Friday night works for me. Or we can have some sushi too?

BTW, I afraid the spring ("dead cat") bounce is here.

244   FormerAptBroker   2007 Mar 21, 3:02pm  

When I mentioned a “pinning” astrid Says:

> I’ve never heard that one before, does pinned =
> knocked up or does pinned = hook up?

I can tell astrid was not Greek as an undergrad…

When I started college in the early 80’s America was at a low point and many people thought the entire Greek system was going to die…

A small group of kids I went to school with started dressing like the guys from the movie “Chariots of Fire” and playing golf with old timers at Claremont and talking about all the traditions that died in the 70’s.

Since most of the old timers got married before (or soon after) graduation they started talking about lavaliering, pining and (even) engagement to sorority girls…

Once the older sorority alums from the Junior League and the T&C Club got word some old guys were playing golf with fraternity guys who were not smelly pot smoking hippies they rushed across the bay to let the girls know what to pressure they guys to do.

Step one was the lavaliere (Greek letters on a chain) that meant you were really going steady, then Step two was the pinning (the girl got the guys actual fraternity pin) that meant the guy made a promise to get engaged and step three was engagement a (actual engagement ring) that means the same thing it means to everyone else…

The older JLSF ladies in their St. John knits would tear up and they sat on the floor of the Sorority houses with the young girls explaining the candle ceremony where one around the circle meant a lavaliere, twice around the circle meant a pinning and three times around the circle meant engagement…

I tried to find a good explanation on the web but this is the best I got (no pinning on Wikipedia):

http://tinyurl.com/36vq9p

245   astrid   2007 Mar 21, 3:21pm  

FAB,

Thanks for the explanation on this arcane subject.

Since I missed my chance, I guess there's nothing left except elopement
(something Smiths themed might be interesting) and finding my personal cult/tax shelter.

246   surfer-x   2007 Mar 21, 3:54pm  

I say we make surfer-X drive up and open the tab.

Hmmmm, maybe HARM and I could road trip it.

247   Peter P   2007 Mar 21, 3:57pm  

Hmmmm, maybe HARM and I could road trip it.

If you guys come your beer is free. :)

248   Jimbo   2007 Mar 21, 5:34pm  

And so is your sushi!

249   Different Sean   2007 Mar 21, 6:46pm  

I tried to find a good explanation on the web but this is the best I got (no pinning on Wikipedia)

You know what to do then...

250   Peter P   2007 Mar 21, 11:36pm  

And so is your sushi!

My sushi is free?

251   Allah   2007 Mar 22, 1:08am  

Randy,

You must tell me more about this filtered blog RSS aggregate thing. That sounds very exciting. (more concentrated goofing off for me???)

It's for extremely sensitive, thin skinned individuals. Hell, for these individuals with an aggregator, they can cut down on their daily prozac intake.

...and its also good for those who don't read posts correctly; Randy fits both of those categories.

252   astrid   2007 Mar 22, 1:32am  

allah,

Randy H is not the person who comes to my mind for either of those descriptions.

I can think of others here who do, but I don't want to stir up that shit storm again.

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