REMAX Fairlawn. Ya. Wutever. Someone please tell me how in the world a thing like Adkins finds its way onto the TV. Only FOX baby, only FOX. Talk about a joke of a "news" program.
But at least it's a great time to buy there. I mean $400K to live in Bakersfield...Can't think of a better deal. And hell it's only ~4 1/2 hours from the beach.
Ever Wonder Why Tom Adkins Deserves to Be on Bulls and Bears?
Reported by Judy - January 28, 2006
One of the frequent guests on Brenda Buttner's "Bulls and Bears" has been a long-haired conservative named Tom Adkins who specializes in saying outrageous things. He has been identified in various ways -- publisher of commonconservative.com and a real estate agent, for example. But Saturday (January 28, 2006), Brenda Buttner let the cat out of the bag on what this guy's real qualifications are. And (as they say on Fox News), the answer may surprise you.
Adkins was on the show to discuss why buying real estate is a better investment than buying stocks. The stock analysts on the show and Adkins were all talking over each other when Buttner said, "Shut up!" In response to some mock shock from the others, she said, "He's my husband. I can tell him to shut up."
Turns out, she wasn't kidding. If you google Tom Adkins and Brenda Buttner, you will find this: "CommonConservative.com: Tom Adkins- the Modern Conservative Tom Adkins will not have an article this week. He was married to the lovely Brenda Buttner on June 24th, and is on his honeymoon. The staff wishes them well." Clicking on the link doesn't take you to that message, but to a page of Listwebs.com. Perhaps Adkins tried to scrub the information from his own site.
This tidbit of information blurted out by Buttner shines a little light on the seamy ethics of Fox News reporters. What mainstream reporter would interview her spouse (and prior to that, her fiance) on national television repeatedly without disclosing the connection? Does Adkins get paid each time he's on the show? Is Buttner thus enriching herself indirectly by having her husband on? What are his other qualifications for being on the show? He writes about interest rates, real estate, and so on, on his blog, but nobody seems to be noticing. According to its Alexa traffic rank the blog has a a traffic rank of 1,732,027. You'd think it would be higher than that if Adkins' family members looked at it once in awhile.
The commonconservative.com website contains this information about Adkins:
"Founder: Tom Adkins
"Known for biting wit, Tom has left people laughing, crying, angry, but always thinking about the issues. Beneath Tom's ironic style, lies deep theoretical detail. It is not uncommon for readers to finish a Tom Adkins piece saying, 'This is what I wanted to say, but I didn't know how to say it.' Until they read it!
"Tom has been published in the Philadelphia Inquirer, the Washington Times, City Paper, Insight, The Hill, and often picked up via wire services in most major newspapers. He's also appeared on ABC's 'Politically Incorrect', Fox 'New's Beyond the News', 'Hannity & Colmes', CN8's 'It's Your Call' and numerous other shows.
Well as I don't watch Idiot box news, I rarely see this kinda crud. But here's a better debate than we get there, only someone edited it with some cheesy music at points.
REMAX Fairlawn. Ya. Wutever. Someone please tell me how in the world a thing like Adkins finds its way onto the TV. Only FOX baby, only FOX. Talk about a joke of a "news" program. Geoff | 01.08.08 - 8:12 pm |
Geoff, he is married to Fox's Brenda Buttner. That's how he makes it on air.
So this guy Atkins meant 10 % up in Canada. Now I see. Actually in USD, that puts them up 25 %. That (and -30 degrees) will keep the riff-raff Americans out.
Terribly sorry. But the Queen's picture on a piece of paper doesn't raise it's value much for me. Now if I can trade it for a pound sterling...well that whets my appetite.
That's hilarious - I watched that very same 1 year & 2 day old clip from Schiff's video archive just the other day. Adkins is a modern day Irving Fisher.
Mike Norman does absolutely nothing to make a point except giggle when Peter Schiff speaks. He doesn't employ any facts. I think Mr. Schiff is a bit extreme. Nicole Ridgeway makes a good balanced arguement against Schiff's position.
Great clip. Forecaster (actually just a Realtor pretending to be a forecaster) gets outed as a boob. He could have saved some face and admitted his mistake, but he tried to deny it. Tony Little looking boob!
Tom Adkins: Housing has gone from the very best year in American history to the 5th best year in American history! Essentially, we are reverting back to a normal market. Some areas will be a little lower than others and some will be a little higher. This is a media driven event. Sales are down about 3.5 percent. What's the problem with that? If sales had continued at that rate over the past 3 years, every American man, woman, and child would own a home in 7 years. We actually need softer sales to prevent an enormous crash. Everyone needs to live somewhere. So somewhere, somebody is always buying a house, regardless of the market.
Thanks for posting this. States need insurance because they have a calendar of bonds that they want to refund. As long as they can keep refunding bonds, they can keep pushing financing problems out into the future. Without insurance, a lot of refundings would either cost a fortune in yield or wouldn't sell.
You're looking back at something Adkins said a year ago and he looks stupid.
But more than half of the MSM political pundits look stupider than him for what they said YESTERDAY.
MSM analysts mainly listen to each other.
How many times in the last month have you heard some MSM analyst touting health care stocks?
Just stick you finger in the air, and you will know that the U.S. revenues of almost all health care companies are vulnerable over the next three years.
You see officer, what happened was, something with our IT system. It is all very sophisticated and how this fake evidence was produced is just too complex to describe. You know how those computer things have a mind of their own, haha.
"You're looking back at something Adkins said a year ago and he looks stupid."
If Adkins had admitted to making a bad prediction, I and probably most others would not bother to comment on it. IMO, what makes Adkins' behavior comment worthy is that in the 1/2/08 broadcast Adkins flat out denied ever have made that "10% appreciation in 2007" prediction. That and his preposterous comment that 10% a year increase in housing prices is normal.
Non-borrowed bank reserves were over 35% (of monetary base) in 1960.
Non-borrowed bank reserves were a bit over 5% at the beginning of Dec, 2007.
Non-borrowed bank reserves were barely 1% on Jan 3, 2008.
That is 80% decline in one month.
Looking at the historical data, I noticed no other time when non-borrowed reserves had changed so quickly.
Without the new TAF "injections", reserves would be barely 1%, less than 25% required reserves.
Historical foreign buyers of treasuries were sellers during the last half of 2007. It was only the UK's strong showing that mopped up around 175 billion of debt.
Is gold telling us that the fed is covertly monetizing? What are we going to find in next weeks TIC data? Even if the fed is not monetizing, how much longer will continue to pile more money into the full faith and credit of a corrupt, bankrupt(by any legitimate standard), collapsing financial system and government.
I'm really interested on other people's thoughts on this issue. To me it is of paramount importance.
"Sad tale of modern times: The USD is worth about the same as a currency that has the loonie bird on it! The USD is loonie!"
Canada has a budget surplus, a trade surplus, 2nd largest oil reserves in the world and the world's largest store of fresh water (freely convertible to Molsons). Pretty smart bird, that loon! Crack open that Molsons and let's watch some hockey, eh?
MBI 13.98, -3.64, -20.7%) said Wednesday it is cutting its quarterly dividend to 13 cents from 34 cents as part of a plan to preserve capital. The company said the move would save it about $80 million a year. The firm also said it expects that it will incur a total of $737 million in loss and loss adjustment expenses for the fourth quarter.
Jan. 9 (Bloomberg) -- The risk of companies defaulting on their debt rose a sixth straight day as concerns lingered that lenders including Countrywide Financial Corp. won't be able to ride out the worst housing slump in 27 years.
Contracts on the Markit CDX North America Investment Grade Series 9 Index, a benchmark gauge of default risk tied to the bonds of 125 companies including Countrywide, climbed 3.75 basis points to 100 basis points as of 8:15 a.m. in New York, according to Deutsche Bank AG. The index is at the widest since the CDX indexes started trading four years ago.
Frustrating watching Peter Schiff debates. He's been right all along yet those he debates seem to keep resetting their talking points back to the original start line and are never smarter for any of the revelations/confirmations that have come out since further validating Schiff's position. It's as if they just don't care what evidence supports Schiff, they keep going back to the same ole, same ole as if we haven't had any discovery over the past year. Once the debate is over, they've been shown to be wrong, they just reset the verbiage odonometer back to go and same the same crap again the next time. When they are finally cornered, they just deny they ever said it, even if presented with irrefutable evidence, such as taped video, they still deny or claim they were mis-understood. Complete slimebags.
I don't pay late fees...never have and never will...you get when i get it...do i get rein burst if my electricity is off due to a storm, or a power failure..no..do I get to charge the company that was suppose to send me a letter or something in the mail on a specific day and it arrives late or gets lost...no..take your late fees and shove it CFC!
The Countrwide announcement (Alo @ 8:55) is chilling. They're making lots of money (late fees) because borrowers are behind on their payments.
And they're going to be receiving payments by the thousands for those late fees, and much else, in the near future. The kind of payments that are 2 inches long, come on a ring, and jingle.
Their accountants will be working overtime at HQ to try to find some way of classifying them as "accelerated receivables".
So umm when do the rebates arrive in the mail????I want to buy more silver....
Although worthless my friends cash is and always will be king....you need it to buy food....so hedge..yes but keep some cash your going to need it in the long term...floor safes are nice
Stuart,
Unfortunately, Schiff is perfect fodder for the other guests on those shows. They may know nothing about business or economics, but they do know that if they giggle and shake their heads while Schiff is trodding out his analysis, they will be perceived as having won the debate. Most people don't want facts, they want to feel good.
"A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional way along with his fellows, so that no one can really blame him."
John Maynard Keynes, "Consequences to the Banks of a Collapse in Money Values", 1931
That's not really Tom Adkins...it's the ghost of Sam Kinison.
AAAAAHHHHHHHH!!!!!
YOU BUILT IN THE F%^&%ing DESERT!!! PACK YOUR KIDS, GET YOUR S%^$, WE'LL MAKE ONE TRIP. WE'LL TAKE YOU TO WHERE THE FOOD IS!!
YOU BUILT IN THE DESERT!!! THIS IS SAND!!! NOTHING GROWS HERE!!! NOTHING EVER IS GONNA GROW HERE!!! YOU BUILT IN THE F^&*%^ING DESERT!! AHHHHHHHHHHHHH!!!!!!
Glad to see someone (no less than CR!) linked to the video about local price corrections I posted the other day on YouTube.
The reporters in that segment (Kiyoshi Timono and Jim Scott) are very aware of the bubble nature of the market (which is refreshing for MSM), as well as what actually fueled the bubble (also a shock from MSM!).
I just about choked when anchor Jim Scott recognized how falling prices might actually be GOOD NEWS for buyers! That's actually why I posted the video: I wanted to document what may be the FIRST time any MSM reporter did that! Most MSM act like housing price corrections are downright Un-American, usually leading into such reports of price declines with lines like, "More bad news on the housing front".
Spot Gold just hit $890
Now back to our regularly scheduled programming.
Schiff keeps track of all his TV appearances over the years. Much fun to watch.
Euro Pacific Capital | Video Archives
kind of scared of gold's rise. We could start talking about real money soon....
haha
How do I go long on tar and feathers?
Where the hell is Bakersfield??
REMAX Fairlawn. Ya. Wutever. Someone please tell me how in the world a thing like Adkins finds its way onto the TV. Only FOX baby, only FOX. Talk about a joke of a "news" program.
CR, I love it.
If you did nothing but posts such as this one ("Want to get away?" posts) I would remain a loyal
The realtor in the video is famous for this song he made about our local fraud:
- Bakersfield.com - More than before.
Isn't he the guy who sells various junk exercise equipment for three easy payments plus s+h wait up to 12 weeks for delivery?
C&C
Right here:
Bakersfield, CA, USA - Google Maps
Cheers,
Misean - LOL. That is where I am from.
C&C,
I know, couldn't resist.
Cheers,
But at least it's a great time to buy there. I mean $400K to live in Bakersfield...Can't think of a better deal. And hell it's only ~4 1/2 hours from the beach.
Cheers,
1.5 hours to Ventura.
Those homes will be selling for $250-300k in two years.
News Hounds: Ever Wonder Why Tom Adkins Deserves to Be on Bulls and Bears?
Ever Wonder Why Tom Adkins Deserves to Be on Bulls and Bears?
Reported by Judy - January 28, 2006
One of the frequent guests on Brenda Buttner's "Bulls and Bears" has been a long-haired conservative named Tom Adkins who specializes in saying outrageous things. He has been identified in various ways -- publisher of commonconservative.com and a real estate agent, for example. But Saturday (January 28, 2006), Brenda Buttner let the cat out of the bag on what this guy's real qualifications are. And (as they say on Fox News), the answer may surprise you.
Adkins was on the show to discuss why buying real estate is a better investment than buying stocks. The stock analysts on the show and Adkins were all talking over each other when Buttner said, "Shut up!" In response to some mock shock from the others, she said, "He's my husband. I can tell him to shut up."
Turns out, she wasn't kidding. If you google Tom Adkins and Brenda Buttner, you will find this: "CommonConservative.com: Tom Adkins- the Modern Conservative Tom Adkins will not have an article this week. He was married to the lovely Brenda Buttner on June 24th, and is on his honeymoon. The staff wishes them well." Clicking on the link doesn't take you to that message, but to a page of Listwebs.com. Perhaps Adkins tried to scrub the information from his own site.
This tidbit of information blurted out by Buttner shines a little light on the seamy ethics of Fox News reporters. What mainstream reporter would interview her spouse (and prior to that, her fiance) on national television repeatedly without disclosing the connection? Does Adkins get paid each time he's on the show? Is Buttner thus enriching herself indirectly by having her husband on? What are his other qualifications for being on the show? He writes about interest rates, real estate, and so on, on his blog, but nobody seems to be noticing. According to its Alexa traffic rank the blog has a a traffic rank of 1,732,027. You'd think it would be higher than that if Adkins' family members looked at it once in awhile.
The commonconservative.com website contains this information about Adkins:
"Founder: Tom Adkins
"Known for biting wit, Tom has left people laughing, crying, angry, but always thinking about the issues. Beneath Tom's ironic style, lies deep theoretical detail. It is not uncommon for readers to finish a Tom Adkins piece saying, 'This is what I wanted to say, but I didn't know how to say it.' Until they read it!
"Tom has been published in the Philadelphia Inquirer, the Washington Times, City Paper, Insight, The Hill, and often picked up via wire services in most major newspapers. He's also appeared on ABC's 'Politically Incorrect', Fox 'New's Beyond the News', 'Hannity & Colmes', CN8's 'It's Your Call' and numerous other shows.
"Tom resides in the Philadelphia area,
C&C,
You drive 100MPH????
Bakersfield, CA, USA - Google Maps
LOL
Cheers,
Only 98 mph.
If any one from the CHP is here - only 65mph....
C&C...
LOL.
Hell I live in the valley. Depending on traffic it can take nearly that long to get to Santa Monica.
Cheers,
Thanks brew, I just threw up into my mouth. Must get more wine...kill the taste....
If you're bored with election returns, then take a break with national city's interactive valuation chart:
http://www.nationalcity.com/corporate/EconomicInsight/HousingValuation/default.asp
http://www.bos.frb.org/news/speeches/rosengren/2008/010808.pdf
Especially like the graph on current trends on Balance Sheet Growth for US Banks!! pg 24.
Well as I don't watch Idiot box news, I rarely see this kinda crud. But here's a better debate than we get there, only someone edited it with some cheesy music at points.
Enjoy:
YouTube -
Cheers,
FWIW, house prices rose 11 % in Canada last year. Biggest gainer was Saskatoon.
This page is available to GlobePlus subscribers
By the way, it's often -30 in Saskatoon in the winter.
Isn't he the guy who sells various junk exercise equipment for three easy payments plus s+h wait up to 12 weeks for delivery?
John | 01.08.08 -
I usually see guys like that on Skinemax @ 3am.
A 406K house in Bakersfield still sounds outrageously expensive to me.
Doesn't it to you?
I know the area economy is booming and the population is exploding, but still Bakersfield is Bakersfield...
Aheadofthecurve,
-30 what? Price declines?...LOL.
300+K and the cost of heating the place? Are Canadians' insane?
Cheers,
sheezus... do sane people really pay $600,000 for such hideous homes? (in Bakersfield or not?)
Was Fox News trying to up ratings when they invited Sammy Hagar to comment on the real estate market?
Saskatoon, Saskatchewan.
What's not to love?
FWIW, house prices rose 11 % in Canada last year. Biggest gainer was Saskatoon.
Aheadofthecurve
As they always say; as Saskatoon goes, so goes the world.
charts,
Good one.
Given the relationship...this is appropriate.
I'm in just that kinda mood tonight,
YouTube -
Cheers,
REMAX Fairlawn. Ya. Wutever. Someone please tell me how in the world a thing like Adkins finds its way onto the TV. Only FOX baby, only FOX. Talk about a joke of a "news" program. Geoff | 01.08.08 - 8:12 pm |
Geoff, he is married to Fox's Brenda Buttner. That's how he makes it on air.
There is a town near Saskatoon called Biggar. As you approach the town a sign reads "New York may be big but this is Biggar"
"300+K and the cost of heating the place? Are Canadians' insane?"
Heat? That's for wimpy Americans, eh?
And remember that's 300k REAL MONEY, with the Queen on it!
As they always say; as Saskatoon goes, so goes the world.
Alec | 01.08.08 - 9:06 pm | #
Funniest thing ever.
So this guy Atkins meant 10 % up in Canada. Now I see. Actually in USD, that puts them up 25 %. That (and -30 degrees) will keep the riff-raff Americans out.
Regulator urged Berkshire to enter bond insurance
FT.com / Companies - Regulator urged Berkshire to enter bond insurance
Aheadofthecurve,
Terribly sorry. But the Queen's picture on a piece of paper doesn't raise it's value much for me. Now if I can trade it for a pound sterling...well that whets my appetite.
Cheers,
Why would anyone trust advice on future real estate prices from a guy in a flashback Jheri curl?
Maybe FOX should hire Leif Garrett for stock tips.
Misean- Your brain has obviously been fried by that California sun. A bit of Saskatchewan winter will set you straight right quick.
Aheadofthecurve,
Born in Buffalo, lived in Wisconsin. I've seen cold. You may be correct, but I've found warm. Warm is good.
Cheers,
That's hilarious - I watched that very same 1 year & 2 day old clip from Schiff's video archive just the other day. Adkins is a modern day Irving Fisher.
For reference...
http://stockmarketcrash.atspace.com
The Irving Fisher quote is 2/3 of the way down the page.
Mike Norman does absolutely nothing to make a point except giggle when Peter Schiff speaks. He doesn't employ any facts. I think Mr. Schiff is a bit extreme. Nicole Ridgeway makes a good balanced arguement against Schiff's position.
Great clip. Forecaster (actually just a Realtor pretending to be a forecaster) gets outed as a boob. He could have saved some face and admitted his mistake, but he tried to deny it. Tony Little looking boob!
Adkins is a conservative? Does that mean he wears a chest wig and only smokes homegrown pot?
This sounds strangely appropriate:
Green pig gives birth to glowing piglets
Green pig gives birth to glowing piglets - Science- msnbc.com
Any relation to Mortgage Pig?
I found his website:
Search for New Jersey Real Estate and Homes for Sale in NJ
Looks like he's from Joisey.
From a June 2006 interview:
Tom Adkins: Housing has gone from the very best year in American history to the 5th best year in American history! Essentially, we are reverting back to a normal market. Some areas will be a little lower than others and some will be a little higher. This is a media driven event. Sales are down about 3.5 percent. What's the problem with that? If sales had continued at that rate over the past 3 years, every American man, woman, and child would own a home in 7 years. We actually need softer sales to prevent an enormous crash. Everyone needs to live somewhere. So somewhere, somebody is always buying a house, regardless of the market.
FOXNews.com - Recap of Saturday, June 24 - The Cost of Freedom
Thanks for posting this. States need insurance because they have a calendar of bonds that they want to refund. As long as they can keep refunding bonds, they can keep pushing financing problems out into the future. Without insurance, a lot of refundings would either cost a fortune in yield or wouldn't sell.
"FWIW, house prices rose 11 % in Canada last year. Biggest gainer was Saskatoon."
Those Canucks are late to every party. Here's a home for sale in Toronto, asking price $173,000:
http://members.aol.com/winjr/TorontoHouse.jpg
Who wants to guess where the Canadian housing market is ultimately headed?
You're looking back at something Adkins said a year ago and he looks stupid.
But more than half of the MSM political pundits look stupider than him for what they said YESTERDAY.
MSM analysts mainly listen to each other.
How many times in the last month have you heard some MSM analyst touting health care stocks?
Just stick you finger in the air, and you will know that the U.S. revenues of almost all health care companies are vulnerable over the next three years.
this is Biggar
Very tame for Saskatchewan. Tisdale is the "Land of Rape and Honey".
Lender Tells Judge It Recreated Letters
Lender Tells Judge It 'Recreated' Letters - NY Times
You see officer, what happened was, something with our IT system. It is all very sophisticated and how this fake evidence was produced is just too complex to describe. You know how those computer things have a mind of their own, haha.
"Terribly sorry. But the Queen's picture on a piece of paper doesn't raise it's value much for me."
Sad tale of modern times: The USD is worth about the same as a currency that has the loonie bird on it! The USD is loonie!
But more than half of the MSM political pundits look stupider than him for what they said YESTERDAY.
I beg to differ. More than half of MSM political pundits may look stupid, but that guy looks utterly moronic.
Looks like he's from Joisey.
edgar | 01.08.08 - 11:13 pm | #
Seriously, this guy need to go back to cornering the market on acid washed demin and leave RE analysis to people with a shread of intelligence.
Hey Meatloaf-
Time to get you off the air, get you a new job, and Lord knows, a new haircut.
I hear McDonalds is hiring, dude.
"You're looking back at something Adkins said a year ago and he looks stupid."
If Adkins had admitted to making a bad prediction, I and probably most others would not bother to comment on it. IMO, what makes Adkins' behavior comment worthy is that in the 1/2/08 broadcast Adkins flat out denied ever have made that "10% appreciation in 2007" prediction. That and his preposterous comment that 10% a year increase in housing prices is normal.
I like the bit about "10% is what you get in a normal market" in the original segment
Liar or idiot? I'm going to go with liar.
Non-borrowed bank reserves were over 35% (of monetary base) in 1960.
Non-borrowed bank reserves were a bit over 5% at the beginning of Dec, 2007.
Non-borrowed bank reserves were barely 1% on Jan 3, 2008.
That is 80% decline in one month.
Looking at the historical data, I noticed no other time when non-borrowed reserves had changed so quickly.
Without the new TAF "injections", reserves would be barely 1%, less than 25% required reserves.
Historical foreign buyers of treasuries were sellers during the last half of 2007. It was only the UK's strong showing that mopped up around 175 billion of debt.
Is gold telling us that the fed is covertly monetizing? What are we going to find in next weeks TIC data? Even if the fed is not monetizing, how much longer will continue to pile more money into the full faith and credit of a corrupt, bankrupt(by any legitimate standard), collapsing financial system and government.
I'm really interested on other people's thoughts on this issue. To me it is of paramount importance.
GCW
Sweethomekilla
There are not many solutions to the current problem. Allowing property prices to decline is going to be catastrophic given the lack of reserves.
The only practical way forwards is to trash the dollar by monetizing the debt.
People can huff and puff but i just can not see it not happening.
If it does not happen the outcome is way too scary.
"Sad tale of modern times: The USD is worth about the same as a currency that has the loonie bird on it! The USD is loonie!"
Canada has a budget surplus, a trade surplus, 2nd largest oil reserves in the world and the world's largest store of fresh water (freely convertible to Molsons). Pretty smart bird, that loon! Crack open that Molsons and let's watch some hockey, eh?
Perhaps the USD would trade better if we put pictures of boobies on it instead:
Blue footed boobies
The USD would be known as the boobie.
CR
Check these photos out....warn you these are not for the faint of heart....classic House Bubble...lest see who do we blame..BUSH! or GREENSCAM??
Unfinished Ghost Town
NEWS JUST IN:
MBIA cuts dividend by 60%
From marketwatch.com:
-- Bond insurer MBIA Corp (MBI:MBIA Inc
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MBI 13.98, -3.64, -20.7%) said Wednesday it is cutting its quarterly dividend to 13 cents from 34 cents as part of a plan to preserve capital. The company said the move would save it about $80 million a year. The firm also said it expects that it will incur a total of $737 million in loss and loss adjustment expenses for the fourth quarter.
The sign says "There's no place like it". Hope not
Sweethomekilla @ 2:22 am
Isn't there something oxymoronic about the term "borrowed reserves"
Hey, look what just got spit out of countrywide's document machine!
Countrywide Says Foreclosures, Overdue Loans Rise (Update6) - Bloomberg.com
Do you think they are regenerating numbers from the past or is this actually believable?
Company Default Risk Rises Sixth Day; CDX Index Reaches Record
By Shannon D. Harrington
Jan. 9 (Bloomberg) -- The risk of companies defaulting on their debt rose a sixth straight day as concerns lingered that lenders including Countrywide Financial Corp. won't be able to ride out the worst housing slump in 27 years.
Contracts on the Markit CDX North America Investment Grade Series 9 Index, a benchmark gauge of default risk tied to the bonds of 125 companies including Countrywide, climbed 3.75 basis points to 100 basis points as of 8:15 a.m. in New York, according to Deutsche Bank AG. The index is at the widest since the CDX indexes started trading four years ago.
[snip]
Peter Schiff is a good guy.
Whats peter's take on gold at the moment?
Frustrating watching Peter Schiff debates. He's been right all along yet those he debates seem to keep resetting their talking points back to the original start line and are never smarter for any of the revelations/confirmations that have come out since further validating Schiff's position. It's as if they just don't care what evidence supports Schiff, they keep going back to the same ole, same ole as if we haven't had any discovery over the past year. Once the debate is over, they've been shown to be wrong, they just reset the verbiage odonometer back to go and same the same crap again the next time. When they are finally cornered, they just deny they ever said it, even if presented with irrefutable evidence, such as taped video, they still deny or claim they were mis-understood. Complete slimebags.
The Countrwide announcement (Alo @ 8:55) is chilling. They're making lots of money (late fees) because borrowers are behind on their payments.
What a business model!
I don't pay late fees...never have and never will...you get when i get it...do i get rein burst if my electricity is off due to a storm, or a power failure..no..do I get to charge the company that was suppose to send me a letter or something in the mail on a specific day and it arrives late or gets lost...no..take your late fees and shove it CFC!
"-30 what? Price declines?...LOL.
300+K and the cost of heating the place? Are Canadians' insane? "
Temperatures routinely reach -40 or lower (F or C, they cross at that point) in a regular Western Canada winter.
You say that like it's a bad thing.
We call it briskly refreshing. I have worked outdoor consruction jobs for weeks on end in those conditions.
Don't be so wimpy. Enjoy the beauty of a snowy winter day.
The Countrwide announcement (Alo @ 8:55) is chilling. They're making lots of money (late fees) because borrowers are behind on their payments.
And they're going to be receiving payments by the thousands for those late fees, and much else, in the near future. The kind of payments that are 2 inches long, come on a ring, and jingle.
Their accountants will be working overtime at HQ to try to find some way of classifying them as "accelerated receivables".
I don't know anything about Bakerfield, but that actually looks like a nice house to me.
4 Bedroom, 3000sf, $406K = $135/sf including land. Thats seems reasonable considering building costs.
I live in NYC metro area. That house would be 2 to 4 times that in my area. All relative though.
Prices are dropping here, but not like that.
So umm when do the rebates arrive in the mail????I want to buy more silver....
Although worthless my friends cash is and always will be king....you need it to buy food....so hedge..yes but keep some cash your going to need it in the long term...floor safes are nice
a comment about the CFL from an old Tank McNamara cartoon for ahead of the curve:
"What's the twelfth guy do?"
"Operates the snowblower."
"The Countrwide announcement (Alo @ 8:55) is chilling"
So they're moving to Canada?
Stuart,
Unfortunately, Schiff is perfect fodder for the other guests on those shows. They may know nothing about business or economics, but they do know that if they giggle and shake their heads while Schiff is trodding out his analysis, they will be perceived as having won the debate. Most people don't want facts, they want to feel good.
"-30 what? Price declines?...LOL.
300+K and the cost of heating the place? Are Canadians' insane? "
I am in Finland at the moment. You have to experience it to believe it but cold and ice is amazingly beautiful.
And what do you get in California?
Artifical breasts? Plastic people? Obsession with appearances? High taxes? Pollution? And the rat race?
There is something to be said for a place that is less artificial or more real than what passes for reality in many places these days.
Not to be outdone by the others, Goldman is now making the recession call too, and says it expects rates to fall to 2.5% by Q3.
Goldman Sachs sees recession in 2008
| Reuters
"A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional way along with his fellows, so that no one can really blame him."
John Maynard Keynes, "Consequences to the Banks of a Collapse in Money Values", 1931
Is a house really a 'bargain' if in 6 months you could have bought it for less? Or maybe a bargain is in the eye of the beholder as well.
That's not really Tom Adkins...it's the ghost of Sam Kinison.
AAAAAHHHHHHHH!!!!!
YOU BUILT IN THE F%^&%ing DESERT!!! PACK YOUR KIDS, GET YOUR S%^$, WE'LL MAKE ONE TRIP. WE'LL TAKE YOU TO WHERE THE FOOD IS!!
YOU BUILT IN THE DESERT!!! THIS IS SAND!!! NOTHING GROWS HERE!!! NOTHING EVER IS GONNA GROW HERE!!! YOU BUILT IN THE F^&*%^ING DESERT!! AHHHHHHHHHHHHH!!!!!!
Oh well, at least then he'd be funny...
Glad to see someone (no less than CR!) linked to the video about local price corrections I posted the other day on YouTube.
The reporters in that segment (Kiyoshi Timono and Jim Scott) are very aware of the bubble nature of the market (which is refreshing for MSM), as well as what actually fueled the bubble (also a shock from MSM!).
I just about choked when anchor Jim Scott recognized how falling prices might actually be GOOD NEWS for buyers! That's actually why I posted the video: I wanted to document what may be the FIRST time any MSM reporter did that! Most MSM act like housing price corrections are downright Un-American, usually leading into such reports of price declines with lines like, "More bad news on the housing front".