If you tell a lie big enough and keep repeating it, people will eventually come


By Bubbabear   Follow   Wed, 12 Dec 2012, 5:19pm   771 views   8 comments
In Yorba Linda CA 92886   Watch (1)   Share   Quote   Permalink   Like (2)   Dislike  

Bottom line is that housing is not only NOT recovering, but the elitists in NYC and DC are putting their best spin possible on what is being reported. The truth is that housing is getting ready to follow corporate capital investment off the cliff...
http://truthingold.blogspot.com/2012/11/more-housing-hypehope.html

Viewing Comments 1-8 of 8     Last »     See most liked comments

  1. Peter P


    Follow
    Befriend (4)
    125 threads
    19,073 comments

    1   5:32pm Wed 12 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike (1)  

    Isn't that a quote from Goebbels?

  2. ttsmyf


    Follow
    Befriend (3)
    77 threads
    465 comments
    ttsmyf's website
    Premium

    2   5:53pm Wed 12 Dec 2012   Share   Quote   Permalink   Like (2)   Dislike   Protected  

    Adolf Hitler originated the term “The Big Lie” in his Mein Kampf, 1925
    See my post here:
    http://occupywallst.org/forum/condemn-venal-journalism-for-severely-fooling-the-/

  3. fedwatcher


    Follow
    Befriend
    253 comments
    Valencia, CA

    3   6:56pm Sat 15 Dec 2012   Share   Quote   Permalink   Like (4)   Dislike  

    As I have said before.

    There were many who saw the bubble in housing back in 2004. There were many who saw that the rise in Home Equity Loans was driving consumption forward. At one point HELOCs drove 40% of consumption. The FBI warned early about mortgage fraud. The Chairman of the Fed was warned by many within the Fed.

    But also people warned about the dot.com bubble. All they had to do was understand math.

    Problem is perception beats reality hands down every time. We choose to believe what we want to believe.

    With homeowners still representing over 64% of households, they want to believe in a recovery. That is what is key, what they want to believe. The spin masters can then feed into that.

    Fundamentals or perceptions?

    Math or magical thinking?

  4. Peter P


    Follow
    Befriend (4)
    125 threads
    19,073 comments

    4   9:14pm Sat 15 Dec 2012   Share   Quote   Permalink   Like (3)   Dislike  

    fedwatcher says

    Math or magical thinking?

    People start with conclusions and work backwards. It does not matter if the math is good. They will always find reasons/statistics/models to support their views.

  5. ttsmyf


    Follow
    Befriend (3)
    77 threads
    465 comments
    ttsmyf's website
    Premium

    5   4:29pm Mon 24 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected  

    fedwatcher says

    Here's some little-realized truth. Money is just the medium of exchange -- it is green pieces of paper, and entitlement thereto. Mispricing of homes, for example, just misdistributes the green pieces of paper -- it does NOT change value. "The big con" equates value to price, as though there were zero mispricing. This everyday fooling of the people is central.

  6. Kevin


    Follow
    Befriend
    41 threads
    2,655 comments

    6   5:04pm Mon 24 Dec 2012   Share   Quote   Permalink   Like (2)   Dislike  

    fedwatcher says

    There were many who saw the bubble in housing back in 2004

    Not really.

    Someone who "saw" the bubble implies that they BOUGHT in 2004 and then SOLD in 2007.

    But basically nobody did that. The eternal pessimists said it was a bubble in 2004 and also in 2003, 2002, 2001, ....1995. They continued to say it was a bubble until it finally popped, and then they told everybody how smart they were for not buying. Meanwhile, people who did buy in 2004, used their equity to get an even nicer house, a new car, and pay for their kids' college, and then refinanced down to 3.25% last month just nod.

    Observing that there was an asset bubble wasn't hard. The hard part is figuring out when it's going to burst so that you can take advantage of it.

    I can predict right now that there will be another housing bubble, stock bubble, gold bubble, and oil bubble within the next 100 years. This helps absolutely nobody, but at least I can claim to have "seen it coming".

    If you're in agreement with this article, I ask you this: What are you doing to take advantage of the situation? Telling other people that only a moron would buy a house isn't doing you any good.

  7. ttsmyf


    Follow
    Befriend (3)
    77 threads
    465 comments
    ttsmyf's website
    Premium

    7   9:47am Tue 25 Dec 2012   Share   Quote   Permalink   Like (2)   Dislike   Protected  

    Kevin,
    Bubbles are the enemy of the people.
    Financial asset mispricing, effect on the common good:
    equal and opposite effects on buyer and seller, net = zero;
    equal and opposite effects on all the asset-holders together and on all the asset-non-holders together, net = zero;
    rational pricing is better for the common good than is irrational pricing because rationality is more likely to be there tomorrow than is irrationality -- giving ‘a more stable environment for all of us to plan our lives’ (Shiller).

    I reckon that the foregoing is obvious, and I reckon that the following is obvious.
    The MAIN ENABLER of sizable asset price bubbles is keeping the real price histories seldom seen. Look: http://showrealhist.com/yTRIAL.html

    And read "Condemn venal journalism for severely fooling ..." http://occupywallst.org/forum/condemn-venal-journalism-for-severely-fooling-the-/

  8. FortWayne


    Follow
    Befriend (12)
    164 threads
    5,394 comments

    8   9:53am Tue 25 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike  

    It is an old wise quote from the Nazis. All politicians engage in that kind of deception.

Bubbabear is moderator of this thread.

Email

Username

Watch comments by email
Home   Tips and Tricks   Questions or suggestions? Mail p@patrick.net   Thank you for your kind donations

Page took 67 milliseconds to create.