patrick.net
An Antidote to Corporate Media
1,260,282 comments by 15,050 users - DOGEWontAmountToShit, ElYorsh, Patrick online now
Ben Jones & Patrick: Psychics or Super-Geniuses?
invite response
2007 Mar 6, 9:13am 19,457 views 179 comments
« First « Previous Comments 173 - 179 of 179 Search these comments
The TOL CEO must be desperate to try this ridiculous spin. Cancellations can go to zero but what's the big deal if sales also go to zero ? Cancellations are important only to identify change of sentiment from positive to negative. If sales don't pick up, who cares how cancellations are doing ? People cannot cancel orders they have never placed.
Maybe DELL can learn something from them. "Not as many people are placing orders, but that's not important. What is important is not as many people are canceling their orders. WOOOOOHOOO."
I see FDIC just issued cease and desist against Fremont.
Tomorrow I will cray half a tear for FMT bottom feeders. Hmm. Maybe not.
sfbubblebuyer
2007 Mar 7, 10:57am
You mean, like these townhomes “starting in the $1,500,000″ range?
To be fair, most of their offerings are a little cheaper than that. :) And that IS Shallow Alto they're building in, there.
sfbubblebuyer
2007 Mar 7, 11:04am
I'm just saying that most of what they build is cheaper than 1.5 million, not that housing isn't retarded right now.
sfbubblebuyer
2007 Mar 7, 11:27am
At least you didn't offer to refi my home with an option ARM, PAR. :)
AG,
Welcome to the blog! Come breathe the free air of Truth.
Maine politicians complain of “brain drain†and can’t figure out why so many young people leave.
Once again, I think that Upton Sinclair quote applies:
"It is difficult to get a man to understand something when his job depends on not understanding it."
All politicians are afraid of saying ANYTHING negative about loanownership --regardless of what they really think-- because:
(a) It's the "Amerikan Dreamâ„¢", and you... do... love Amerika, don't you...?
(b) Nearly 70% of their constituents are loanowners vs. JBRs.
(c) The percentage of loanowners who regularly vote is also significantly higher than JBRs.
(d) They are getting an a$$load of lobbyist money and campaign contributions from NAR/NAHB/MBAA and like organizations.
State and local politicians are even MORE beholden to the REIC, because state/local budgets get a disproportionate share of their tax revenue from property owners.
It's all about knowing which side your bread is buttered on...
« First « Previous Comments 173 - 179 of 179 Search these comments
As the rolling bubble crash gathers steam, and even formerly hostile MSM sources now reluctantly admit the bubble --and its bursting-- is undeniably real, one question remains: how did people like Patrick Killelea and Ben Jones correctly predict all this so accurately beforehand?
Nearly two years ago, Ben and Patrick founded their now-famous blogs, dedicated to the national housing bubble. They boldly predicted its demise as "inevitable" long, long before most industry experts would even admit the bubble even existed. Now events are unfolding almost like clockwork, almost exactly as predicted:
My questions: how could such seemingly average Joes ever predict such events when the brightest, most highly paid industry experts could not? I mean, David Lereah went from "no bubble" to "correction's over" in like 30 seconds flat! If the danger signs were so obvious, then why didn't we hear about them beforehand from the NAR... the Fed... Wall Street? It's not as if these frequently quoted (and rarely challenged) "industry experts" could possibly have known about this mess beforehand, but just kept it to themselves for some reason. Like, that's just conspiratorial, tinfoil-hat wing-nuttery, right?
So, if the only way to perceive an asset/credit bubble is after-the-fact (as Sir Alan Greenspan has asserted), then how could Ben and Patrick possibly have known about it that far back? Are they psychic? Are these guys prescient modern-day Nostradamus-es? Or, are they financial super-wizards --real-life Hari Seldons-- who can accurately predict the future with mathematical precision, but posing as regular guys? If the housing bubble was so impossible to predict, even with access to the very best market data and cutting-edge computing power (as the experts insist it was), then how could two ordinary working-class stiffs manage to pull off such a feat by themselves?
Should we be concerned that Patrick and Ben are some form of genetically mutated super-geniuses hiding in plain sight?? How else could they possibly have foreseen the unforeseeable?
Spooky, isn't it? :roll:
Discuss, enjoy...
HARM
#housing