2
0

The writing is on the wall 2


 invite response                
2013 Oct 20, 9:26am   20,086 views  55 comments

by dunnross   ➕follow (1)   💰tip   ignore  

« First        Comments 16 - 55 of 55        Search these comments

16   dunnross   2013 Oct 20, 11:36am  

egads101 says

how did this prediction of yours from june 2012 work out?

Just because the FED and the gov't decided to extend the party for a while longer doesn't make my predictions wrong. It only means that the eventual fall will be just as more painful.

17   dunnross   2013 Oct 20, 11:38am  

Actually, I invite you all to take a look at my predictions vs. the predictions made by the head of our wonderful FED:

http://mises.org/daily/3588

Well, just only in September, everybody on wall street and the mainstream media had predicted for Ben to taper the QE, while I, myself, predicted 11 months ago that they would not taper, but only accelerate. So, who turned out to be correct?

18   dunnross   2013 Oct 20, 11:50am  

It's very interesting that many of the youtube videos of Ben's clairvoyant predictions were pulled off the internet. Here is one example:

http://www.youtube.com/embed/HQ79Pt2GNJo

19   Robert Sproul   2013 Oct 20, 12:25pm  

tatupu70 says

Federal Reserve will exhaust all alternatives to avoid any and all losses for their controlling interests. As they should.

FTFY
Historically, as my grandfather, a small town bank president, and my father, a much bigger banker, knew, they are just fucking houses. Like, to house your family.
Once they got donkeys like you to borrow at interest for depreciating assets and think they were "investors" they completed the Great Grift.

20   dunnross   2013 Oct 20, 2:18pm  

egads101 says

a million of his quotes have been printed in newspapers

And, what's amazing is that the guy who is supposed to be the most influential person in the world can get away with not having a clue about the depression, nor the fact that he caused it to happen.

21   dunnross   2013 Oct 20, 2:40pm  

egads101 says

you are honestly going to claim Bernanke caused the depression. wow.

Yes, he wasn't the only one responsible, but he was one of the main perpetrators of it. The depression happened because the bubble he had blown burst. But, what's even worse, is that he didn't learn any lessons (just like you didn't either). He continues to "cure" the economy by using the same methods he used to fuck it up in the first place. This is exactly why this depression is going to go on for a long time, and the next dip is going to be much scarier than the first one.

22   dunnross   2013 Oct 20, 2:45pm  

I guess it doesn't take a PhD in economics to realize that throwing $1.6T a year at the economy which is only growing at a rate of $300B/year is a losing proposition.

23   dunnross   2013 Oct 20, 2:56pm  

egads101 says

he is a phd economist who studied the great depression extensively. I am highly educated in the field as well, and I tend to agree with his view.

Yes, both of you are great minds and I am a dumbass. Except this dumbass could predict the great depression and you denied it, just like you're both denying it now. The great PhD economist did absolutely nothing to prevent the bubble, to stop the banks from lending money to the people who could never pay them back. On the contrary, he threw more fuel into the fire and denied that the bubble ever existed. When the banks failed, he made the taxpayer pay for all the bank's mistakes. The next collapse is going to be much more serious than the last one, but the great minds are still denying it. Maybe because they know that the taxpayer will pay for that one too. I guess he knows that the taxpayer is the most generous taxpayer in the world, because, the taxpayer listens to cheerleaders like you, and not capable of understanding what's really going on.

24   dunnross   2013 Oct 20, 2:58pm  

egads101 says

he is a phd economist who studied the great depression extensively. I am highly educated in the field as well, and I tend to agree with his view.

Yes, I am from the government and I am here to help.

25   dunnross   2013 Oct 20, 3:04pm  

egads101 says

he is a phd economist who studied the great depression extensively. I am highly educated in the field as well, and I tend to agree with his view.

I see a great resemblance between you and the FED chairman. You are both lying through your teeth, even about something as fundamental as your identity. The Federal Reserve is neither Federal, nor do they have any Reserves. You are Roberto and trying to make us think that you're not.

26   dunnross   2013 Oct 20, 3:05pm  

egads101 says

haha. I sold 4 investment properties in 2004, 2005 and sat on the money. then I bought 13 in 2009-2011...

Show us the proof. You liar. Why should we even believe a guy who can't even say the truth about his own identity.

27   dunnross   2013 Oct 20, 3:08pm  

egads101 says

That is about as good as it gets dipstick.

Nope. Buying gold would have been much better. That's what I did.

28   dunnross   2013 Oct 20, 3:10pm  

egads101 says

I will stay anonymous, as a good oracle should.

Not only are you a liar, but also a coward with no cojones.

29   dunnross   2013 Oct 20, 3:15pm  

egads101 says

I heard what some asshole from this site did to that other guy, called his work and claimed he had a gun..

But we already know exactly where you work. This place:

http://www.scottsdalecc.edu/academics/faculty/roberto-ribas

That is, if you haven't been expelled from there as the worst professor in the history of that institution.

30   dunnross   2013 Oct 20, 3:21pm  

How about being on record for saying that silver is going to go to $10/oz. Do you want me to bring that up too?

31   dunnross   2013 Oct 20, 3:48pm  

egads101 says

If I was a serial liar, always wrong dipshit like you, I suppose maybe I'd find someone to harass online too.

Spoken like a true victim of online harassment!

32   Bigsby   2013 Oct 20, 5:36pm  

dunnross says

egads101 says

he is a phd economist who studied the great depression extensively. I am highly educated in the field as well, and I tend to agree with his view.

I see a great resemblance between you and the FED chairman. You are both lying through your teeth, even about something as fundamental as your identity. The Federal Reserve is neither Federal, nor do they have any Reserves. You are Roberto and trying to make us think that you're not.

Yes, he's trying very, very hard to hide his real identity. That must presumably be why he just listed all his purchases in the post before.

33   Bigsby   2013 Oct 20, 5:40pm  

dunnross says

egads101 says

I heard what some asshole from this site did to that other guy, called his work and claimed he had a gun..

But we already know exactly where you work. This place:

http://www.scottsdalecc.edu/academics/faculty/roberto-ribas

That is, if you haven't been expelled from there as the worst professor in the history of that institution.

Right, so from what he just posted that is what you focus on whilst ignoring the situation of some no-mark, apparently from this site, phoning his place of work and saying what they said. It's good that you have your priorities straight.

34   tatupu70   2013 Oct 20, 9:11pm  

dunnross says

Yes, that's exactly what I am implying. In fact, that would be the best thing
that could ever happen to the country and all the future generations

Well, we'll have to disagree on that one. If house prices could magically drop and become more affordable without causing current owners to lose their current equity, then I'd agree.

Robert Sproul says

FTFY
Historically, as my grandfather, a small town bank president, and my
father, a much bigger banker, knew, they are just fucking houses. Like, to house
your family.
Once they got donkeys like you to borrow at interest for
depreciating assets and think they were "investors" they completed the Great
Grift.

FFS. They are houses. Nice strawman though.

When it's cheaper to buy, you buy. When it's cheaper to rent, you rent. Why do you think I or anyone else is an "investor"?

35   dunnross   2013 Oct 20, 10:57pm  

tatupu70 says

If house prices could magically drop and become more affordable without causing current owners to lose their current equity, then I'd agree.

Why shouldn't they lose their equity? They bought into this ponzi scheme boat line and sinker. Somebody needs to take the loss one way or another. But, instead of having these losers and the banks take the loss, we hand the losses over to the taxpayers and the prudent savers. And, this is exactly why the economy cannot grow, and will not grow for many decades.

36   tatupu70   2013 Oct 20, 11:09pm  

dunnross says

Why shouldn't they lose their equity? They bought into this ponzi scheme boat
line and sinker. Somebody needs to take the loss one way or another. But,
instead of having these losers and the banks take the loss, we hand the losses
over to the taxpayers and the prudent savers. And, this is exactly why the
economy cannot grow, and will not grow for many decades.

wtf are you talking about. If prices go to 1975 nominal levels, we'd be in a depression for certain. I don't think your employer would care if you were a homeowner or renter as they laid you off. Or as they went out of business.

And contrary to your belief that we'd have a nice, short, uneventful few years of recession--it would be long and it would be ugly and there is no reason to think it would clear the way for growth in the future.

37   dunnross   2013 Oct 20, 11:29pm  

tatupu70 says

wtf are you talking about. If prices go to 1975 nominal levels, we'd be in a depression for certain. I don't think your employer would care if you were a homeowner or renter as they laid you off. Or as they went out of business.

Yes, that's the official story from the FED fear mongers who try to justify their current policies of sending the country into the abyss. On the other hand, reality and history shows otherwise. We have an example of Japan, which has the same policies that we do, and are entering a 3rd decade of a depression vs Argentina, Iceland and Russia, all defaulting and enjoying high economic growth the very next year after the default.

38   dunnross   2013 Oct 20, 11:32pm  

tatupu70 says

I don't think your employer would care if you were a homeowner or renter as they laid you off.

Unlike a homeowner, however, I would be able to move and find another job somewhere else.

39   tatupu70   2013 Oct 20, 11:42pm  

dunnross says

Yes, that's the official story from the FED fear mongers who try to justify
their current policies of sending the country into the abyss. On the other hand,
reality and history shows otherwise. We have an example of Japan, which has the
same policies that we do, and are entering a 3rd decade of a depression vs
Argentina, Iceland and Russia, all defaulting and enjoying high economic growth
the very next year after the default.

But we're not talking about the government defaulting. So what's your point?

40   tatupu70   2013 Oct 20, 11:43pm  

dunnross says

Unlike a homeowner, however, I would be able to move and find another job
somewhere else.

Really? You think that a depression is local? There are no jobs ANYWHERE. Move all you want. It won't matter.

41   dunnross   2013 Oct 20, 11:48pm  

tatupu70 says

But we're not talking about the government defaulting. So what's your point?

It doesn't actually matter who is defaulting. The whole idea of a quick recession is to expunge all the debt. The FED and the gov't prevented this from going into completion in 2008, thus setting the stage for decades of stagnation. Not only that, but they have just blown another bubble in real estate, which will soon bust, but the consequences of this next bust would be much more serious than the previous one.

42   dunnross   2013 Oct 20, 11:56pm  

tatupu70 says

Really? You think that a depression is local? There are no jobs ANYWHERE. Move all you want. It won't matter.

There are still over a dozen countries which are enjoying GDP growth rates over 5%.

43   tatupu70   2013 Oct 21, 12:23am  

dunnross says

There are still over a dozen countries which are enjoying GDP growth rates
over 5%.

OK--fair enough. If you want to move overseas, then that's a different story.

44   tatupu70   2013 Oct 21, 12:27am  

dunnross says

It doesn't actually matter who is defaulting. The whole idea of a quick
recession is to expunge all the debt. The FED and the gov't prevented this from
going into completion in 2008, thus setting the stage for decades of stagnation.
Not only that, but they have just blown another bubble in real estate, which
will soon bust, but the consequences of this next bust would be much more
serious than the previous one.

The debt just doesn't magically go away with no consequences. One person's debt is another person's savings. So when you default you also take away the savings of all those renters that were squirreling away a little bit each month. I don't think you understand the effects of a default like you are advocating.

All the "new bubble" stuff is BS.

45   dunnross   2013 Oct 21, 12:37am  

tatupu70 says

The debt just doesn't magically go away with no consequences. One person's debt is another person's savings. So when you default you also take away the savings of all those renters that were squirreling away a little bit each month. I don't think you understand the effects of a default like you are advocating.

No, the renters are going to benefit from defaults. The losers will be the banks, the home owners and the bond holders.

46   dunnross   2013 Oct 21, 12:40am  

tatupu70 says

All the "new bubble" stuff is BS.

No it's not. The graph below shows the California affordability chart, when you take into account the loans which were available at the various periods. The CAR graph doesn't take that into account, which is the BS. This one is for real:

47   Bigsby   2013 Oct 21, 12:44am  

dunnross says

tatupu70 says

Really? You think that a depression is local? There are no jobs ANYWHERE. Move all you want. It won't matter.

There are still over a dozen countries which are enjoying GDP growth rates over 5%.

Those growth rates dropped 3% pretty quickly.

48   dunnross   2013 Oct 21, 12:48am  

Bigsby says

Those growth rates dropped 3% pretty quickly.

Yes, I checked the data. There are a few over 8%, but 5% is still much better than where we are right now. We are actually in a negative real growth period, spending $1.6T to grow $300B anually.

49   Bigsby   2013 Oct 21, 12:48am  

egads101 says

dumbross, you entirely missed the market turn in 2009, 2010. You spend those years screaming that prices would drop further.

Epic fail.

So, given your track record, why should anybody listen to you today?

If he keeps saying the same thing long enough, ...

50   dunnross   2013 Oct 21, 12:51am  

egads101 says

So, given your track record, why should anybody listen to you today?

2010 was a fake rally due to tax incentives. 2011 decline wiped out all the gains of 2010. The prices didn't actually start going up until late 2012, and this will turn out to be short-lived as well. So, my track record is great. Since 2007, I was correct in 5 years out of 6, and if you had followed my predictions in gold, you'd be laughing all the way to the bank, now.

51   Bigsby   2013 Oct 21, 12:57am  

dunnross says

Bigsby says

Those growth rates dropped 3% pretty quickly.

Yes, I checked the data. There are a few over 8%, but 5% is still much better than where we are right now. We are actually in a negative real growth period, spending $1.6T to grow $300B anually.

It's also a very small number of economies and presumably mainly those starting from a low base or being fueled by a resources boom.

52   tatupu70   2013 Oct 21, 1:14am  

dunnross says

No, the renters are going to benefit from defaults. The losers will be the
banks, the home owners and the bond holders.

OK. Because if you say so, it must be true.

So, let's follow the money then. When banks go bust, where is that money coming from? When bond holders go bust, who actually owned the bonds? Retirement acccounts, perhaps? And might renters be invested in those?

53   tatupu70   2013 Oct 21, 1:21am  

dunnross says

No it's not. The graph below shows the California affordability chart, when
you take into account the loans which were available at the various periods. The
CAR graph doesn't take that into account, which is the BS. This one is for
real:

First--are we only speaking of CA.?

Second--who says that the median income should be able to afford the median home? 40% of the folks rent. So, we're talking about the top 60% who are buyers. And some percentage of those folks bought 20 years ago and probably couldn't afford their home today.

So that whole graphic is nonsense

54   dunnross   2013 Oct 21, 2:51am  

egads101 says

Meanwhile, how much are home prices up in California? Az is up 68%

But I showed you all that I was shorting gold during that time.

55   Bigsby   2013 Oct 21, 4:20am  

RentingForHalfTheCost says

Didn't you just do the same. Just saying...

No. You might notice that I wasn't ignoring the comment by Roberto, I was responding to Dunnross. Just saying. But hey, paint me unsurprised you popped up to start trolling.

« First        Comments 16 - 55 of 55        Search these comments

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions