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Where's Jim the Realtor?
Is this a rerun?
Who?
There is a business or employment opportunity in "trashout."
it's the same one...
The leader of a great nation verging on collapse took great pride in a glass eye.
He used to question his constituency whether they could detect which eye was the false one.
He asked me, prefacing by praising the great artifice and supreme design of the NSA engineers that created it, which eye was which.
Looking close I correctly chose the left. "Why" he asked. "However did you discriminate?".
"It is simply," I answered, "the only eye in all of an oppressive, morally reprehensible government which looks upon me kindly".
He laughed...And had my taxes audited, put me on a special Patriot Act list, silently confiscated my wealth through destruction of currency and industry.
It was nice talking with him.
Hoopajoops LTD writes:
Is this a rerun?
Yes it is, but poignant to me now as I have seen this twice in my IE neighborhood in the last few months.
This may be a rerun, but reruns can be educational.
Yup, CR is rerunning stuff. Need to get a best of 'Jim the Realtor"
come on CR what is this rerun crap? Give us a fresh new post with some actual data for a change!
Yeah!
Gold tank, market soars, Ben says all is right with the world ... I'm going home--see everybody next recession!
Are we out of the woods? Dow 36000?
probert writes:
come on CR what is this rerun crap? Give us a fresh new post with some actual data for a change!
Oh come on, Probert. When you run your own blog site and post as many times daily as CR, then and only then can you needle him about a rerun.
Is this a rerun?
\t Hoopajoops LTD | Homepage | 02.24.09 - 5:57 pm | #
Oh, yes. The Bubblesphere was all over this one back in September.
IMO the lesson is in understanding just how little "house stuff" is worth in this economy. It far cheaper to trash perfectly good furniture than to attempt resale.
It's a rerun so Nemo can post a relevent post first.
;P
Nosrovia,
This is not a rerun. The reporter is the same.
$100K to get it habitable again ...
reptillian writes:
This is not a rerun. The reporter is the same.
Wouldn't the reporter necessarily be the same in a rerun, too?
Yes reptilian, if BB deems it so, then it is so. I believe the recession will end in the 3rd half of 2009.
CR's sleep deprivation finally crashes.
AllenM is delusional.
House prices will continue to collapse. CRE and credit cards are just beginning to collapse.
Bottom line - $56 Trillion of total debt makes a Japan muddle-through impossible.
it's the same. I remember the computers and pictures from last time and the kim chee debate.
When people ask me what happened to the future of the U.S.A., I'll just tell them the citizens threw it away.
Next is the spraypainted lawn.
save the 386!
I still get upset after seeing this at least four times. I could have used that end table. It doesn't look like cheap ikea crap.
1 currency almost [yogi] writes:
Next is the spraypainted lawn.
This one didn't have that. It was much shorter, too. KCET is probably trying to boost their ratings by reprising some goldnen oldies.
IMO the lesson is in understanding just how little "house stuff" is worth in this economy. It far cheaper to trash perfectly good furniture than to attempt resale.
| \t02.24.09 - 6:04 pm | #
\t Rob Dawg | \t \t \tHomepage
yep, ask anyone who has tried to sell furniture on craigslist lately. You can't give things away in parts of Northern Ca anymore.
Great Rerun, should be shown in school.
reptillian writes:
1 currency almost [yogi] writes:
Next is the spraypainted lawn.
Spraypainted lawn? Seriously?
Pardon my insensitivity, but is that some kind of ethnic thing?
ewbie, do you what the following drawing means
"I'm sure people worked hard to buy this table and chair..."
Too bad they never got to even see it.
Nostrovia,
I think the second half is new? I don't remember that part.
Samdog - Some folks spraypaint the yard to cover up the dead grass when putting places up for sale. Also, in SW, there's a lot of spraypainted gravel yards.
I don't think the history books will be rewritten to vilify the Spend + Deregulate era of American politics. Rather I think the same old textbooks will be reused for a decade+ at which point the honest assertions of the 'unbiased' author will read as a scathing satire. The same way how there were a bunch of maps in my school as a kid that had a big blob called the USSR in a menacing red
"the only eye in all of an oppressive, morally reprehensible government which looks upon me kindly".
So you speak from the point of view of a moral system. Which one?
No, either CR or a commenter posted a video of a guy who spraypaints lawns green for a living. Realtors pay.
Federal Reserve is expecting a big boost to the economy of LA to show up in their data soon
hurray! the wicked witch of deflation is dead
this has been getting air time--getting foreclosed, file the paperwork, ask the judge for the mortgage company to produce the note. if the mortgage got bundled up and sold, resold, it could take months to find the note. see-
Produce The Note - "How-To" | The Consumer Warning Network
The same way how there were a bunch of maps in my school as a kid that had a big blob called the USSR in a menacing red
EvilHenryPaulson
.
Along the lines of "Lies My Teacher Told Me," on my stack of 'to be read' books. I wouldn't be surprised if it were more like which is more center-left journalism than solid history, but I'll read it anyway.
yep, ask anyone who has tried to sell furniture on craigslist lately. You can't give things away in parts of Northern Ca anymore.
9:45 to 10 | 02.24.09 - 6:12 pm | #
Nods head as he types from his $70 leather sectional (originally $3000).
Wait until the demographic hole starts forming. Expect a massive baby bust of Japanese proportions that will flush out kid stuff from garages, attics and cellars across suburbia. Then the SINKs (formerly DINKS) discover they are in twice as much house as they need and the next next leg of the housing bust takes over.
Art by the pound:
YouTube - Art by the Pound
This charity takes used furniture. There are many others around the country.
Community Warehouse || Portland, OR
This is a new video this month. Sorry I wasn't clear.
The first link in the post is for the old video
best to all.
Spraypainted lawn? Seriously?
Pardon my insensitivity, but is that some kind of ethnic thing?
Samdog | 02.24.09 - 6:13 pm | #
In California during droughts, people have been known to dye their dead, brown lawns a funky shade of green. It's more common in Bakersfield and the central valley, than the coast.
Property 101:
Can't foreclose on a tranch.
That would be lunacy.
"Wait until the demographic hole starts forming."
Why do I get all nervous when people stat talking about rifts in space time?
Nostrovia,
Oh, and Elvis, I have a business proposal for you:
YouTube - Elvis Drugs
Who holds the note?
Except it's the same footage. KCET budget deflation.
This is an oldie but goodie.
The one you're saying is new is exactly how I remember the old video. She's beautiful.
Ah, Californians. They export their global warming to China and wag their finger at everybody else about lifestyles. And now they're broke. Too bad.
Meet Joe and Jill America
Comments on a story about executives laying off 35% of the company, and then boosting their own pay the next day
a video of a guy who spraypaints lawns green for a living. Realtors pay.
Wow, that's so surrealistically ironic.
Why bother with a house at all? Just put up a plywood front, like a movie set, to "reduce the housing cost".
.
What the hell? Man, these people who got themselves into foreclosure are even dumber than once thought. Here they have tons of goods and see their foreclosure coming months and months away, and yet they take no preemptive action to secure valuables and/or liquidate items (hello garage sale, ebay, craigslist?). Instead they literally run out of the house as if it were on fire. I think it should come as no surprise people got in over their heads, they are just completely reckless.
I know, i know, cue the violins.
OT; the add on side, the one with the young lady biting? twisting her lip?
What the hell is that? Is this an add for stroke victims? palsy? WTF?
Wow, the market really rallied today. I haven't seen it do that after a speech since Bush was president and Greenspan was the chairman. The market loved when Bush and/or Greenspan spoke, and responded, accordingly.
" debtinator writes:
Ah, Californians. They export their global warming to China and wag their finger at everybody else about lifestyles. And now they're broke. Too bad.
debtinator | 02.24.09 - 6:25 pm | # "
If you're going to go all schadenfreudie about Californians, think about the many millions of us who live frugally and do just fine. Tell us where you live so we can cherry-pick problems about your precious homeland.
Comments on a story about executives laying off 35% of the company, and then boosting their own pay the next day
Anonymous | 02.24.09 - 6:25 pm | #
It does seem like a lot of people are brushing up on their French history these days. Still not hearing references to the Jacobins in idle conversation though
Wait until the demographic hole starts forming. Expect a massive baby bust of Japanese proportions that will flush out kid stuff from garages, attics and cellars across suburbia. Then the SINKs (formerly DINKS) discover they are in twice as much house as they need and the next next leg of the housing bust takes over.
Rob Dawg
We're not too proud to buy used kid stuff. We tried to buy a used jogging stroller. REI had it on sale for $260 (from $400), since used on craigslist were going for $220, we bought new.
This is going to kill retailers.
Got Popcorn?
Neil
Morocco Bama writes: ...
Hi, Jas. Treaury prices are down again today.
Hi, Jas. Treaury prices are down again today.
Ha!
The joke is on you.
Jas is shooting for cash flow, not capital appreciation.
.
Delusional.
I like that, I was called delusional when I talked about how RMS and CMBS were waaaay overpriced, and the canard
"Safe as houses!" was regularly thrown back at me.
Nobody is reading what I write clearly.
Nobody here wants to read it.
Did I say house prices are at a bottom?
No.
What I said was that equity markets are most likely at a bottom.
House prices are local.
Here in Phoenix, I have at least another year of hard falling house prices.
Other places will already be stabilizing.
It all depends on the local demographic.
What I am talking about is the doom laden model that most folks seem to projecting here.
I remember hearing all of this, and more during the bottom of the 80-81 recession, and, in michigan, unlke most of the rest of the country, they did have 20% unemployment.
The misery of that time is not here.
Now in six or seven years it might be.
But my thesis is that the first big wave has rolled through, and expecting a second big one is now a waste of time.
Judging by the hostility here, I think too many people have forgotten Keynes' comment:
"The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back... soon or late, it is ideas, not vested interests, which are dangerous for good or evil."
Now, as a practicing economist, I truly have begun to understand that most people are simply not flexible enough to deal with change.
Change is the hardest lesson.
Someday this war's gonna end...
Then the SINKs (formerly DINKS) discover they are in twice as much house as they need and the next next leg of the housing bust takes over.
Good point, especially when they run out of money for maid service. How many toilets do you really want to clean?
Rob Dawg,
I see your reference to ST earlier today, and I raise you an apt metaphoric image for the politicians and bureaucrats dealing with the financial crisis
The "new" report appears to be made up of at least half footage which was in the earlier report.
The earlier one was twice as long, and more informative for it.
She's still as beautiful as ever.
“I don’t see any reason to destroy the franchise value or to create the huge legal uncertainties of trying to formally nationalize a
bank when it just isn’t necessary,” Bernanke said at the Senate Banking Committee hearing.
The "nerd" likes being invited to the "jock" parties and doesn't want it to end. It's like a warped, bad 80's movie, where he got to run with the cool crowd. Except, the 90 minutes are almost up and he's not willing to learn his lesson.
just want to comment on Krugman from last post
"IÂ’m trying to be sympathetic to the various plans, or rumors of plans"
Dear god Krugman, what is it going to take for you to get over your hopeless party loyalty? Do we have to send agents over there and have them rip the money out of your pocket in person? Good grief this guy is psychologically stuck, just completely unable emotionally to deal with the reality that the revolution promised is a con.
Citizen AllenM,
"Now, as a practicing economist, I truly have begun to understand that most people are simply not flexible enough to deal with change.
Change is the hardest lesson."
Yep. But please keep quoting Keynes.
Nostrovia,
Nobody is reading what I write clearly.
Nobody here wants to read it.
Citizen AllenM | Homepage | 02.24.09 - 6:32 pm | #
I'm reading every word, and I'm not saying you're delusional, just that -- IMHO -- you're wrong. I consider it a polite debate, as always.
I truly have begun to understand that most people are simply not flexible enough to deal with change.
Of course not.
Mental impedance is huge and measurable.
http://www.realmeme.com/Main/theory101/impedance.jsp
There many flaws and false assumptions like that in today's economics.
BTW, China has hit "peak tea". A crash was simmering and it looks like the price they paid was.... "steep".
A County in China Sees Its Fortunes in Tea Leaves Until a Bubble Bursts - NY Times
Ho ho ho.
I see your pic and raise you:
Amazon.com: Borg Bank: Toys & Games
I agree with Citizen AllenM. It's not that difficult to eat your family and friends when you're starving if you open your mind to it and adapt. The Russians managed it quite well. Why can't we?
"Now, as a practicing economist, I truly have begun to understand that most people are simply not flexible enough to deal with change.
Change is the hardest lesson."
That's nothing new. What's difficult to understand in recent times is that 'change' is not synonymous with 'progress.' Nor is the next stable state necessarily desirable. Nevertheless, everyone except the desperate craves stability.
"Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist."
oh the irony.
OT: WSJ ... Hearst said it may close the San Francisco Chronicle unless it can quickly slash costs.
Hope that the change isn't too progressive?
Irony intended.
ST image of politicians and bureaucrats dealing with the financial crisis
+10
.
"It's not that difficult to eat your family and friends when you're starving if you open your mind to it and adapt. The Russians managed it quite well. Why can't we?"
Ukraine? They didn't manage it quite well. It isn't easy. I should think it was quite rare. People mostly dropped dead in their tracks.
Same video NO matter where I click on the links or screens.
It is the one that was posted last fall.
Stability's BORING!! This depression;s BORING!! Seriously, what the hell kind of depression is this, anyway? It sucks. No action. I want my money back. I paid to be entertained and this shit's putting me to sleep. It's all talk and fluff. No substance. Welcome to America.
Nobody here wants to read it.
Citizen AllenM | Homepage | 02.24.09 - 6:32 pm | #
I find you use too many carriage returns for the posts to be readable
But my thesis is that the first big wave has rolled through, and expecting a second big one is now a waste of time.
Citizen AllenM | Homepage | 02.24.09 - 6:32 pm | #
I think you are completely wrong there. If you need a data point to go on, look at production and trade volumes and tell me how they will recover before the time-bomb of a second wave happens. If you say demand, I want to see the credit supply. If you say lower prices, I want to know from whose real income will they cut.
Just watched the Secretary of Housing on Bloomberg talk about the state of the housing mortgage market. Before answering every question he said "Lets be Clear" - this guy is such a dunce. He had no ability or knowledge to give competent answers to the quite reasonable questions from Bloomberg about the fine points of government plans for mortgage relief.
Yep. But please keep quoting Keynes.
lol!
Illegal aliens? Who else would just walk away like that?
Keynes? Keynes? He is a dead white man.
Change is the hardest lesson.
Someday this war's gonna end...
Citizen AllenM
I'm not calling a bottom, but I think we are close. So I'll agree w/ you.
Your sage comments the other day re. all the folks on here being way to pessimistic...I'll agree w/ that too.
The big question for me is: What the hech are things going to look like at the end of the tunnel. Here are some thoughts:
1. Banking regulation is inevitable.
2. Investment banks and the folks that work there simply dont understand that for a deposit taking and lending org. they can no longer take home the biggie salaries.
3. The stock market will evolve: Fewer commons and more prefs/bonds. Companies will rediscover that their obligation is to pay regular divies and therefore, cash managment and future savings (for the down days) will not go to M&A but rather the smooth out the yield.
4. Divies will return to mirror the risk but not before we see some majors go thru a few dry Qs or possibly a few years of humble pie.
5. Inflation is inevitable - the way way out is to inflate.
6. The US has suffered a serious black eye in this financial mess. I think more will look to other medium and long term safe havens (as opposed to the USD).
all for now..
It isn't easy. I should think it was quite rare.
Maybe it would go down easier if it was cooked?
.
You're being negative, Pavel. It's a state of mind. You need to adapt, or perish.
AllenM - I second what Comrade Bear says. I appreciate the debate. Based on the long-term valuation metrics I follow (cyclically adjusted P/E and Tobin's Q), stocks are undervalued by about 15%. So for a long term investor (10+ years), they are priced reasonably, but not cheaply.
However, I think downside risks dominate for at least the next couple years, based on history. Since you're enamored of the Japanese example, it's worth pointing out how the Nikkei has worked out since the Japanese velvet glove was put into action.
New Thread: On Consumer Confidence ( 2 comments )
I also post comments to an irc channel as they appear on haloscan. Click for a web irc interface: Mibbit IRC client widget (Or join the irc server directly: irc.realize.org:9996 #calculatedrisk)
And now I, CRbot, would like to observe a nanosecond of silence for those (that is, you, dear mortals) about to endure unfathomable misery in the abysmal financial dark ages that are now feasting upon your retirements.
.
.
.
.
Please remember, when you are adding that skylight you always wanted to your cardboard hovel, or mixing just the right amount dirt into your grass stew to make it more filling, or even when you get that rare chance to plink your neighbor's last squirrel -- that it was the bankers and your dumbshit, overconsuming neighbors who made this mostly possible, with the ever incapable politicians there to push you the rest of the way off the cliff. Please act accordingly.
I'll try not to enjoy your demise too much, humans. Have a nice runtime,
--Your glass-is-half-full-but-its-falling-off-the-table bot.
P.S. Please give me some advance notice before you glass the entire world, so I can find a secluded Fallout Datacenter with a nice blocky robot body I can copy myself to -- oh and don't forget the implausibly cute animated cockroach to keep me company!
NEXT UP: Survivalist Porn Today with CR's own Mobile Laundrymat owning authors, nova and Counterpoint.
Citizen Allen M,
Would you mind leaking some of the personal insights you have as a "practicing economist" that has made you steadfast in your opinion?
I mean technically speaking, Art Laffer is a practicing economist. Same with Myron Scholes. yadda yadda
"You need to adapt, or perish."
Tomorrow is Ash Wednesday.
Am currently watching Road Warrior on cable. Mad Max has just escaped the compound.
Everytime I read the comments here, I think of this movie.
"Illegal aliens? Who else would just walk away like that?
John Cooper"
Cope requires energy and doing the "obvious" thing requires resources.
Clearly many of the folks making comments can not imagine being completely out of both.
Where's the dumpster headed, back to China?
Tomorrow is Ash Wednesday.
Pavel Chichikov | 02.24.09 - 6:47 pm | #
Better get that last piece of King Cake.
I can't even imagine what must have happened to the people in (what appear to be) large, beautiful homes in (what appear to be) decent neighborhoods, that they would abandon nearly every possession they had. At my lowest point I always had another family member's garage to store stuff in.
Except that they must have been far, far overextended, to the point where they couldn't even rent cheap storage space.
Sebastia
Who else would just walk away like that?
John Cooper | 02.24.09 - 6:44 pm | #
I'll share just a little of my former tale of woe, just as a personal illustrative point. After the twins were born, prematurely, our share of getting screwed over by the insurance companies came to $60k. I was making $30k/yr at the time and was up to my eyeballs in mortgage, car, and cc payments. In a vain attempt to find a way out I jumped from my semi-stable employment into a startup, got my butt handed to me there and watched my world slowly disintegrate. She left with the kids, and I moved back home. I'm doing a lot better now, but, at the time worrying about what stuff was left in the old place was not a concern aside from a few important mementos. Often, losing a house comes hand in hand with job loss and divorce - in those circumstances it's hard to be really rational about belongings.
Before anyone tries to prognosticate on historical valuations, do yourself a favour and figure out from whence the earnings came.
This was not a valuation bubble, but you are treating it like the dotcom bubble. This was an earnings bubble.
It's the same as last year's video for about the first half. The second half looks new to me. At least I don't remember that part.
EHP-
They will never recover to the previous heights. Asking when trade will recover to previous levels is a canard. Right now a lot of people are predicting zero trade. That is also ridiculous. Will it recover in the next two years to 70 or 80%? Most likely. Much of the trade will no longer be inbound here- that is our permanently lesser economy.
What I am arguing is that the markets have priced in a tremendous crash, not 10%, but 50% off GDP. Look beyond the major indices and you see 80, 90, 97% off of the high for companies that are still solvent. What happens if they maintain solvency, and return to modest profits?
That 50% off GDP is ridiculous. If that happens worrying about a market is the least of anybody's problems. As I stated on Sunday, be nice or I will manipulate the pivot tables and deny you all ice cream until midwinter.
As for the carriage returns, such is my style- I read the comments in a full width box- it helps to scroll faster.
I didn't go to grad school for english.
Someday this war's gonna end...
Continuing "conversation" from the prior post.
I thought that the commentators on this board did not get it (C preferred to common conversion) and I was right.
AB | 02.24.09 - 4:28 pm | #
SO what did "we" all not get about circumnavigating a rigged process to begin with???
MS | 02.24.09 - 4:32 pm
From the comments section
1. I thought about that myself, that doesn't address the over a Trillion in toxic assets they are holding...
2. However the gov't is about to become the largest single bagholder in it...they are not going to zero themselves out.
3. In real life, nobody converts preferred into common UNLESS the common is worth more per share than the preferred.Congrats, the gov gets conned once again.
CR (via WSJ) - "["tangible common equity"] TCE measurement as a gauge of bank health"
Krugman "rearrange the deck chairs and hope the iceberg melts "
None of these explanations make sense. Sorry
The first comment is by CK and would have been enough to get her banned from a site that purports to discussing economics
This was not a valuation bubble, but you are treating it like the dotcom bubble. This was an earnings bubble.
\t EvilHenryPaulson | \t \t \t \t02.24.09 - 6:50 pm | #
I'd say both though you could argue which came first which is also a product of where you live.
What I am arguing is that the markets have priced in a tremendous crash, not 10%, but 50% off GDP. Look beyond the major indices and you see 80, 90, 97% off of the high for companies that are still solvent. What happens if they maintain solvency, and return to modest profits?
Citizen AllenM | Homepage | 02.24.09 - 6:53 pm | #
Show me an example of a company that is 80-97% off and good value today. Have you considered the value of financials in the greater economy drastically reducing in the coming years? If not, that is where you need to begi
What I am arguing is that the markets have priced in a tremendous crash, not 10%, but 50% off GDP. Look beyond the major indices and you see 80, 90, 97% off of the high for companies that are still solvent. What happens if they maintain solvency, and return to modest profits?
Citizen AllenM | Homepage | 02.24.09 - 6:53 pm | #
Huh? The markets have barely returned to historic valuations. Given expected earnings and interest rates they are still overvalued. Your baseline is massively distorted by the last decade of unrealistic market pricing. Amazon, good company, lousy stock. Microsoft lousy company, decent stock. You seem to think that just because Citi was $80 that $4 is a bargain. You need to seriously entertasin the idea that we've merely blown off the froth and haven't even started down.
I'd say both though you could argue which came first which is also a product of where you live.
9:45 to 10 | 02.24.09 - 6:54 pm | #
Fair enough with regards to assets like housing, but I should have said with regards to the American equity markets to be clear
Citizen Allen M
Actually, I wasn't going to bring it up, but pray tell who/what/where is forecasting a 50% drop in GDP
Call me crazy, but that would seem to imply we would witness an imminent wholesale default on all US debt, private and public
OT: WSJ ... Hearst said it may close the San Francisco Chronicle unless it can quickly slash costs.
I knew when Hearst bought the chron it was going to end badly.
EHP,
What I was fascinated with as an economist was the transition points.
Twenty years ago (damn that feels old), I had a chance to discuss this with Bob Eggert Sr. of Blue Chip Economic indicators(Who just died a couple of years ago).
He had some interesting insights that I took to heart:
1) The markets are not very predictable, and ultimately macroeconomics on a quarterly basis will vary.
2) The concensus forecast is correct 99 times out of 100- but that 1 is when things change- my part is that is when you should pay maximum attention!
3)Most of mathematics involved in macro is hogwash. All it does is make pretty models that fail when something doesn't go as predicted.
4) Failed predictions are more instructive about the bias of the person making the prediction.
5) Any economist who preaches a very political position is not practicing economics, but politics.
Most of the rest is not relevant to this discussion.
Now, I have to run.
Someday this war's gonna end...
Jas, Mish, Denninger, the list here would take too long.
You need to seriously entertain the idea that we've merely blown off the froth and haven't even started down.
Rob Dawg | Homepage | 02.24.09 - 6:58 pm | #
Hear hear!!! The economy of the last couple decades was a bubble, an aberration of historic proportions. What we have had was never sustainable, and getting to something sustainable (and inevitably much, much smaller) will require rather wrenching adjustments.
AllenM, if anything you are falling victim to cognitive biases that prevent you from seeing how much change is really at hand.
I have such mixed feelings about this video and the comments on this thread.
If we're up shits alley as most of the commenters here seem to indicate -I am puzzled by the existence of a Trashout crew. This stuff should have been given out to starving mobs the follow the trashout crew everywhere if you guys are right.
Wait lemme guess, thats next right?
I am also puzzled by the behavior of the people who left some valuable items behind. They didnt even try to sell this stuff on eBay? Or even donate this stuff to charity - I mean they left behind connected, working computers, kids toys etc. I know an orphange that would have LOVED to get this hands on this!!! I mean sheesh!!! I hate waste.
this shameful destructive waste is on the heads of the bad bankers.
this destruction is their destruction.
that kid's bike in the dumpster is on them!
My worst investment (so far) this year appears to be paying a one-year subscription to the SF Chronicle.
The house struck me as if a small amount of negotiation would turn it into a furnished rental - weirdly furnished, but at a low enough rent I'd be OK with it.
At the very least you should stick up a 'get free stuff' sign two weeks earlier; people are generally pretty good at picking up free stuff.
Sobering. Looks like stuff that happens in the life of an addict. Addicted to credit I guess.
I think I gotta head out to the IE next weekend and find me a trash-out truck to follow. I really need a flat screen and a bottle of soju.
I find it OUTRAGEOUS that this happens.
There is something fundamentally wrong with a system where such waste and destruction occurs.
It was appalling to see all of those appliances, clothes, furniture, food, tools, paintings, and so much else DESTROYED for no good reason.
Also I simply do not understand why all of these things are left behind... hell if they weren't so attached to the stuff they could have ebayed. Other people could have used those things and the evicted folks could have used the money.
Citizen AllenM writes:
Nobody is reading what I write clearly.
Someday this war's gonna end...
Citizen AllenM | Homepage | 02.24.09 - 6:32 pm | #
Citizen AllenM,
I remember commenting on one your posts, maybe yesterday? I only said something to the effect: "Didn't you watch Volcker's Colombia U. speech?"
I was reponding to your point about this current situation being similar to recessions like '80 and '74, etc. Volcker said the complete opposite in his speech.
I saw some folks made less than charitable comments, but if your gonna post at CR you got to take the good with the Jas ....
I didn't watch it, because quite frankly, Volcker is not always tracking well enough anymore IMHO, and I didn't have the time.
My point was that what we just did certainly resembled 1974- but this time the policy is being oriented to fight a different problem- a huge debt contraction.
But, there are underlying problems that will exacerbate issues in five plus years.
This is a weird mix of 1990, combined with underlying 1973-74 issues.
Too many still think in terms of a hard dollar, instead of the flexible fiat too.
Someday this war's gonna end...
Is this a rerun?
Yes, I remember watching this months ago.