You set your own bear-trap in early March and then stepped right into it!
Congrats! You are an investor's gift that just keeps on giving!
The scared tremulous bond holding bear crowd will post about everything other than the market, stocks, equity valuations, corporate earnings, wealth, prosperity and the continuing worldwide economic boom!
God forbid anyone should notice DJIA 13000!
The permabears, whiners, glass-half-empty doom and gloom surrender monkeys missed the whole thing (going back to 2003). They pissed themselves when they should have been backing-up the truck. I suggest that you use them (you know who you are) as odd-lot indicators who are always wrong--just do the opposite.
The same old subculture isn't participating in the fun, and boy are they bitter at those of us who are.
On 4/18 Freddie Mac CEO stated it stands committed by buy 20 billion in subprime. That certainly will stabilize the markets and looks like a much bigger bailout than the S&L. Odd that there was so little discussion about this or was it discussed here already?
What's the matter Capitalist Pig, couldn't pick up last night? I backed up the truck in 2002, so the fact that I just hedged my last long equity position today hardly qualifies me as a permabear. The time to buy is near the bottom of the cycle, not near the top. The only thing I'm bitter about is knowing that wankers like yourself will be screaming for the financially sane "permabears" to fund a bailout for you when this all comes crashing down around your head. But then again, I can comfort myself in knowing that I'll be buying all of your holdings in a year or two at bargain prices when those margin calls force you out, just like in 2002.
More on the same guy, interestingly I think that by adding in prayer to the speech and reinforcing the idea that these people are helping people get into the dream of homeownership it allows them to check their morals at the door. After all.. they are "helping" people. The fact that they just happen to make money at it, just gravy.
I think it was Janszen over at iTulip who theorized that stock market cycles corresponded to who was in primary control of the sell-side: Jocks or technicians. The former tend to be aggressive, overconfident, resistant to nuance, short on imagination, etc and as a result pile on, overheating everything in sight until the pot inevitably boils over, whereupon technicians clean up the mess and we have some stability for awhile until the next cycle begins anew.
And speaking of nuance, I always understood this board to be focused on analysis of a complex but potentially very large problem area and NOT an investing board per se but I'm more than willing to give it credit for providing some essential conceptual tools that, in my case at least, subsequently led to further analysis of a few homebuilders and subprime lenders which I shorted; the profits were so much greater than anything I could have made going long I'll pass on specifics to avoid being accused of bragging (if I were a jock such accusations would doubtless tickle my silk panties pink).
Vermillion at one point had attendees applaud themselves because they ``are already among the leaders in the industry''
More like they are the only ones left standing who can afford to pay $899 to attend a pep rally for what amounts to a sloppy mix of Christianity, Americanism and greed.
Mr. Vermillion (his real name?) apparently hasn't read his New Testament where St. Paul says "Owe no man anything..." nor Proverbs in the Old Testament where it equates debt with slavery.
The mortgage market is the first example that I have seen of a complex marketplace for a complex commodity produced by a big bunch of complete bozos.
Tanta - in all due respect, you have not spent enough time in other industries - complex or not. You have no idea how many bidness babbles I've sat through in all kinds of different bidnesses...
With the realization I might be redundant, I predict bozos & cockroaches will inherit the earth after the next asteroid impact.
I think it was Janszen over at iTulip who theorized that stock market cycles corresponded to who was in primary control of the sell-side: Jocks or technicians. The former tend to be aggressive, overconfident, resistant to nuance, short on imagination, etc and as a result pile on, overheating everything in sight until the pot inevitably boils over, whereupon technicians clean up the mess and we have some stability for awhile until the next cycle begins anew.
Unless the jocks panic - then watch out below... emotion runs both ways like big heavy pendulum. No techie with an ounce of smarts is gonna step in front of that.
Tanta - in all due respect, you have not spent enough time in other industries - complex or not.
You're damned right I haven't. If you think I'm going to crawl out of my blissful little bubble-wrap and find out that the food I eat, the car I drive, and the medicine I take have all been produced by the same kind of bozos who write the loans I have to look at all day, then you are sorely mistaken.
I have to get through my days, dryfly, and I can't always do it drunk. I therefore will sometimes do it by staying ignorant. Cut me a break.
Upon leaving the mortgage revival, they probably set out for Jerry Falwell's house to savor our continuing successes in Iraq.
Subprime wingnuts. Orange County. A new religious cult. I love it! Calls for another German beer, the only thing I genuinely trust, to celebrate another new low.
As a former loan officer myself, I have listened to Vermillion (on a bootleg CD, of course) and I can tell you that you would vomit if you heard him. He's a joke. Born again? Sounds about right.
Pastor Dale can also help you get yourself a Christlike attitude, which will help when you get CRUCIFIED for cramming sad sacks into crappy piles with phony loans. Just what this hollowed-out economy needs, more rollers.
Would it surprise anyone if we learned that some of those people in the prayer session were making toxic, stated income, stated assets loans a few months earlier?
Yet another good example is George W. Bush, the clssic scumbag salesman, from way back into his oil days selling worthless stock of a company that went bankrupt, all the way more recent years selling the Iraq War.
Actually Amway sort of is Quixtar which is sort of Alticor which may have once been Ja-Ri, the original 1949 Nutrilite multilevel marketing organization, and ...aw to hell with it, see Quixtar is just Amway
While Kitten's comment was a bit crude and overgeneral, sadly, there's definitely some truth to it.
I've found that those who wear religion most prominently on their sleeves tend to be the least moral when it comes to actions. And vice-verca: those who are most moral in actions tend to be fairly private about religious matters.
The link between ignorant, loudmouthed so-called "evangelicals" using religion as a tool to ensnare other people into Ponzi schemes is hardly a new observation. People may not trust some "stranger" trying to sell them a bill of goods, but they will trust their pastor, or people they "know" to be "good Christians".
Please tell me this is a joke. Please, I beg you.
Jesus! (No pun intended.)
Holy Moly....
THANKS AGAIN ALL YOU PUT BUYERS AND PERMABEARS!
You set your own bear-trap in early March and then stepped right into it!
Congrats! You are an investor's gift that just keeps on giving!
The scared tremulous bond holding bear crowd will post about everything other than the market, stocks, equity valuations, corporate earnings, wealth, prosperity and the continuing worldwide economic boom!
God forbid anyone should notice DJIA 13000!
The permabears, whiners, glass-half-empty doom and gloom surrender monkeys missed the whole thing (going back to 2003). They pissed themselves when they should have been backing-up the truck. I suggest that you use them (you know who you are) as odd-lot indicators who are always wrong--just do the opposite.
The same old subculture isn't participating in the fun, and boy are they bitter at those of us who are.
I'm fartin' thru silk, BABY!
What I don't understand...
If the original borrowers were at 40%+ DTI with a teaser-rate, what makes anyone think they can refinance into a 45-50% DTI fixed-rate and afford it?
What's the matter, Capitalist Pig, didn't anybody give you a "Yee-ha" in your own One True and Universal Church of the Sacred Share Price of Jesus?
Guess, Jesus will save the FBs (f*cked borrowers)!
$899...
What a way to identify yourself as challenged!
And these people were the leaders of the only driver in this economy for the last 6 years?
We B in trouble.
Amen.
On 4/18 Freddie Mac CEO stated it stands committed by buy 20 billion in subprime. That certainly will stabilize the markets and looks like a much bigger bailout than the S&L. Odd that there was so little discussion about this or was it discussed here already?
This subject reminds me of one of my favorite bumper stickers:
"Please Lord, save me from your followers."
here's the link if anyone's interested:
Freddie Mac to Refinance Loans - washingtonpost.com
I'm fartin' thru silk, BABY!
but farting, nonetheless.
What's the matter Capitalist Pig, couldn't pick up last night? I backed up the truck in 2002, so the fact that I just hedged my last long equity position today hardly qualifies me as a permabear. The time to buy is near the bottom of the cycle, not near the top. The only thing I'm bitter about is knowing that wankers like yourself will be screaming for the financially sane "permabears" to fund a bailout for you when this all comes crashing down around your head. But then again, I can comfort myself in knowing that I'll be buying all of your holdings in a year or two at bargain prices when those margin calls force you out, just like in 2002.
Dan - "but farting, nonetheless."
This sort of crud should give anyone indigestion, if they are paying attention.
BrownBear45 made the following astute comment on the prior thread:
The mortgage market is the first example that I have seen of a complex marketplace for a complex commodity.
We must now amend that slightly:
The mortgage market is the first example that I have seen of a complex marketplace for a complex commodity produced by a big bunch of complete bozos.
Mortgage Insider : The Orange County Register
More on the same guy, interestingly I think that by adding in prayer to the speech and reinforcing the idea that these people are helping people get into the dream of homeownership it allows them to check their morals at the door. After all.. they are "helping" people. The fact that they just happen to make money at it, just gravy.
I think it was Janszen over at iTulip who theorized that stock market cycles corresponded to who was in primary control of the sell-side: Jocks or technicians. The former tend to be aggressive, overconfident, resistant to nuance, short on imagination, etc and as a result pile on, overheating everything in sight until the pot inevitably boils over, whereupon technicians clean up the mess and we have some stability for awhile until the next cycle begins anew.
And speaking of nuance, I always understood this board to be focused on analysis of a complex but potentially very large problem area and NOT an investing board per se but I'm more than willing to give it credit for providing some essential conceptual tools that, in my case at least, subsequently led to further analysis of a few homebuilders and subprime lenders which I shorted; the profits were so much greater than anything I could have made going long I'll pass on specifics to avoid being accused of bragging (if I were a jock such accusations would doubtless tickle my silk panties pink).
Vermillion at one point had attendees applaud themselves because they ``are already among the leaders in the industry''
More like they are the only ones left standing who can afford to pay $899 to attend a pep rally for what amounts to a sloppy mix of Christianity, Americanism and greed.
Mr. Vermillion (his real name?) apparently hasn't read his New Testament where St. Paul says "Owe no man anything..." nor Proverbs in the Old Testament where it equates debt with slavery.
The mortgage market is the first example that I have seen of a complex marketplace for a complex commodity produced by a big bunch of complete bozos.
Tanta - in all due respect, you have not spent enough time in other industries - complex or not. You have no idea how many bidness babbles I've sat through in all kinds of different bidnesses...
With the realization I might be redundant, I predict bozos & cockroaches will inherit the earth after the next asteroid impact.
I think it was Janszen over at iTulip who theorized that stock market cycles corresponded to who was in primary control of the sell-side: Jocks or technicians. The former tend to be aggressive, overconfident, resistant to nuance, short on imagination, etc and as a result pile on, overheating everything in sight until the pot inevitably boils over, whereupon technicians clean up the mess and we have some stability for awhile until the next cycle begins anew.
Unless the jocks panic - then watch out below... emotion runs both ways like big heavy pendulum. No techie with an ounce of smarts is gonna step in front of that.
Dryfly : If you haven't already, please rent the DVD "Idiocracy" and watch at least the first half.
Tanta - in all due respect, you have not spent enough time in other industries - complex or not.
You're damned right I haven't. If you think I'm going to crawl out of my blissful little bubble-wrap and find out that the food I eat, the car I drive, and the medicine I take have all been produced by the same kind of bozos who write the loans I have to look at all day, then you are sorely mistaken.
I have to get through my days, dryfly, and I can't always do it drunk. I therefore will sometimes do it by staying ignorant. Cut me a break.
Upon leaving the mortgage revival, they probably set out for Jerry Falwell's house to savor our continuing successes in Iraq.
Subprime wingnuts. Orange County. A new religious cult. I love it! Calls for another German beer, the only thing I genuinely trust, to celebrate another new low.
As a former loan officer myself, I have listened to Vermillion (on a bootleg CD, of course) and I can tell you that you would vomit if you heard him. He's a joke. Born again? Sounds about right.
Pastor Dale can also help you get yourself a Christlike attitude, which will help when you get CRUCIFIED for cramming sad sacks into crappy piles with phony loans. Just what this hollowed-out economy needs, more rollers.
Capitalist pig sounds like he hasn't got much to lose. These penny arrivistes tend to slight capital preservation.
Pastor Dale may be helping you when you get crucified, but he's laughing all the way to the money changer's table.
Think about it: $900 bucks a pop timex more than 100 people... that's $90K for 2 days of work minus expenses.
I need a gig like that where people sniff my butt while I spout feel-good blah blah and pay me a grip of money to do it.
A blogger can dream, can't he?
Chuck Ponzi
Southern California Real Estate Bubble Crash Blog
Would it surprise anyone if we learned that some of those people in the prayer session were making toxic, stated income, stated assets loans a few months earlier?
I hate to see guys trying to drag Jesus in to all of this.
I wonder if they realize the BIBLE says DO NOT GO IN DEBT. Its in the old and New testament.
And the guy is a born again mortgage broker.
I wonder if Jesus had to deal with a housing bubble. He was not all that fond of the money lenders
It's been my exerience that a very high percentage of scumbag salesmen and other financial crooks are evangelical christians or mormans.
A perfect example is Amway, which is run by evangelical fundies top to bottom.
Yet another good example is George W. Bush, the clssic scumbag salesman, from way back into his oil days selling worthless stock of a company that went bankrupt, all the way more recent years selling the Iraq War.
dryfly: Cockroaches is one of the oldest living animals. Go figure.
James,
Jesus... housing bubble...
Wasn't he a carpenter?
"It's been my exerience that a very high percentage of scumbag salesmen and other financial crooks are evangelical christians or mormans.
A perfect example is Amway, which is run by evangelical fundies top to bottom."
On of the more unintelligent comments on this blog.
Actually Amway sort of is Quixtar which is sort of Alticor which may have once been Ja-Ri, the original 1949 Nutrilite multilevel marketing organization, and ...aw to hell with it, see Quixtar is just Amway
@Mortgage Professional,
While Kitten's comment was a bit crude and overgeneral, sadly, there's definitely some truth to it.
I've found that those who wear religion most prominently on their sleeves tend to be the least moral when it comes to actions. And vice-verca: those who are most moral in actions tend to be fairly private about religious matters.
The link between ignorant, loudmouthed so-called "evangelicals" using religion as a tool to ensnare other people into Ponzi schemes is hardly a new observation. People may not trust some "stranger" trying to sell them a bill of goods, but they will trust their pastor, or people they "know" to be "good Christians".