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Another Ultimate LIE: US economy crashed due to Housing Bubble
One of Ultimate Lies told by US Media, amongst mountain of LIEs they have told the World, is Ultimate LIE that "US economy crashed in 2008 due to Housing Bubble"!
This cannot possibly be true unless US is in another planet than planet Earth! Given fact that avg House prices in US at their peak, in 2007, were below $200/Sqft, which is WAY less than what avg House prices are now in Europe, Canada, Asia, etc., given that avg House prices in most of Developed World are well above $250/Sqft. In fact you have to go to 3rd World countries to find avg home prices as low as US.
So question is Why US Housing prices have not kept up with rest of Developed World?
Answers:
1- Lack of essentials such as Universal Socialized health care which would SAVE typical American family $15000 per year, something that rest of Developed World has
2- Our Taxes wasted on one War after another
3- Our Taxes wasted on a Gargantuan Military. OTN, why are we providing FREE Military protection to Japan, Germany, UK, etc. whom all are MUCH richer than US.
etc. WASTE of our money on unnecessary things and not the investment and use of our Taxes in our People as other developed Nations in the World are making. All under the INSANE Con Job of the Republicans as agents of the 1% that "Government is the problem and not the solution" - More on this point.
To instantly see how avg house prices in US at below the truly pathetic $200 per Sqft, are way way below avg home prices in rest of the developed & developing World, check out: http://www.cnbc.com/id/47082429
Other lies by US Media
That is along such other Ultimate LIES told by US Media such as:
1- Iraq has WMD and thus the reason we need to wage War on this small country. A Lie that is so well known to the whole World to be a total lie by now that does not require further repudiation here.
2- Health care in US is the best in the World, better than Europe or Canada. A Lie that is mind boggling in its scope given the fact that 50Mill Americans have no health care while ALL Europeans, Canadians, etc. have health care, given that 1Mill+ Americans go bankrupt each year due to health care costs while ZERO Europeans, Canadians, etc. go bankrupt each year due to health care costs, or given that US health care results rank with poorest of 3rd World countries, More.
About the 1st Ultimate LIE, that there was a "Housing bubble in US 2007 - 2008...."
1st some background facts and data:
1- Avg prices for Houses are computed based on a 2500 Sqft house in US to a similar size house in Canada, UK, Australia, France, etc., it was computed by throwing out the most expensive areas such as San Francisco and the least expensive areas such as North Dakota.
2- For a sampling of the FACT that avg House prices in Europe, Canada, Asia, etc. are well above $250/Sqft and nicely rising from these much higher average prices, here is one proof sample:
http://www.cnbc.com/id/38225475?slide=1
So contrary to there having been a "Housing bubble in US...", what the real FACT was and is, is that the US Housing market, like the rest of the US economy has not been keeping up with the rest of the Developed World for the last 30 years, and it fell so far behind the rest of the Developed World by 2007 that Capital Stopped coming to US and instead started going to the rest of the Developed World where beside Housing prices being much higher than US and going Higher, the Currencies such as Euro, Canadian Dollar, Australian Dollar, etc. were all going higher vs the US Dollar too.
The other ULTIMATE lie: "Government forced the Banks to give mortgages to people who could not afford it"
Another great LIE to come out of the Republican party, aka Wall Street gang, about Housing is this LIE:
"It was Government who forced the Banks to give mortgages to people who could not afford it"
This is a TOTAL LIE as there is NO law passed by a Congress and signed by a President into LAW, which told banks to "give mortgages to people who could not afford it."
So this is a Myth, conjured up by the Republican party and right-wing Media/Cabal and repeated over and over by them, to put the blame on the Government and Middle Class, rather than where it belongs which is US Government controlled by right-wing Media/Cabal (aka Wall Street) behind the scene.
And it should be obvious that such a Law could never exist given how US Government was/is controlled by Wall Street via their Army of lobbyist backed by 100s of Billions of Dollar to label anything that helps the American people as "Socialism Socialist" while Rich & Big banks got to write the rules. The BEST example of which was Jamie Dimon of JPM testifying recently in the Senate and the Republican senators falling over each other to KISS his arssss.
Of course another way of seeing that the US Government has rarely done anything for American people that the Big banks, Big corporations (aka Wall Street gang) did not like, is the FACT that US Government has not even passed into Law something as basic and essential for the well being of the American people as Universal nationalized health care (NHS), something that would SAVE the typical American family of 4, or small business hiring them, $15,000 per year, something that every, repeat every other developed Nation has had for decades. WHY? Because the $1-Trillion per year in SAVINGs that NHS would bring the American economy (People & Small businesses), would come at the expense of the Wall Street gang and a small privileged class at the top (aka 1%). So do you really think a Government that has NOT even provided its people with such basic and essential thing as NHS, would tell the Banks that "give mortgages to people who can not afford it". Of course NOT.
And in fact if Government had told the Banks "give mortgages to people who can not afford it", this would have been a horrible thing for the People and generally a boon for the Banks unless the Government also went further and said:
1- You cannot charge exorbitant interest rates
2- If someone loses their Job due to no fault of their own but due to Wall Street greedy bastards shipping his/her Job to China, then suspend his/her Mortgage payments until he/she gets a Job
3- Insurance companies you cannot increase your premiums for the SAME Dollar amount that you are ensuring
4- And of course provide American people with NHS, as Europeans, Canadians, Israeli's etc. have as a result of which an American home owner will not see health care cost wipe out their savings & spending powers
etc.
What about Mortgage reduction efforts
Another Con Job and non-sense coming out of right-wing Media is such non-sense as: "But how about the Government effort to help the home owners via the $20,000 Mortgage principal write off.."
Answer: This deal is BS on so many levels.
1st, if you going to have principle reduction is should apply to all.
2nd, why a measly $25Bill amount, why NOT $750Bill like the Republicans & Dems gave to Banks and Wall Street?
In fact, Americans do not need a pathetic $20,000 Mortgage principal reduction, but what they/we need are Universal Socialized health care and Universal Socialized College education which would SAVE a typical family of 4 about $500,000 in their life time, at current prices of health care and college education in US. Which Socialized services, Germans have, French have, Norwegians have, Danish have, Chinese have, Israelis the beloved nation of Republicans and right-wing Media/Cabal have etc. as a result of which these countries have MUCH LOWER unemployment, much better economies than US and average home prices that are well above the US average home prices and nicely rising.
So just think about how US Government is run by Big Banks for the Big Banks and they will say any lies and non-sense via the right-wing Media that they control to get away with this Con Job that in a heart beat Government gave the Banks Tax payer provided $750-Billion TARP, but when it comes to helping the average People then these same Big Banks via the right-wing Media that they control will say any such non-sense as:
"Why should I have to pay the mortgage of my neighbor..."
When the FACT of the matter is that we would NOT be having the current Housing situation in US if our Government had:
1- Regulated insurance companies, from health insurance to house insurance from charging whatever that they want to charge without rational reason.
2- We had Socialized health care, higher education, etc. which would SAVE typical family of 4 about $500,000 in these essential areas
3- We had not been WASTING our Taxes on one War after another and on a Gargantuan Military which lets states is a 100% Socialized service
Things that countries such as Germany, France, Sweden, Denmark, etc. successful Capitalist countries do.
Now why all these countries with much better economies than US have Universal Socialized health care college education? Because these are some of the BEST investments that you can make in your People & Country, IF you cared about the Country. Because a healthy and highly educated people pay much higher Taxes over their life times, resulting in "many more boats rising".
Another LIE. Freddi & Fannie
Freddi & Fannie as semi Government run organizations is another favorite scare crow of the Republicans and the right-wing Media cabal behind them.
To appreciate these FACTS, lets look at the example of Canada vs US. You see they have HIGHER percentage home ownership in Canada than in US and avg home prices in Canada are MUCH HIGHER than avg home prices in US too. So unless US is on another Planet than Canada, which it is not, in fact US borders Canada, then the question becomes WHY can for example Canadians afford to buy homes with much more Cash down than Americans and homes that are on average much more expensive too than American homes? Put in simpler term, percentage of home ownership is higher in Canada than in US, and they do not have a "Freddi & Fannie" to have "made getting loans easier... AND avg house prices in Canada are much higher than US too. How can this be? Of course this completely destroys the non-sense by US (right-wing) Media that the cause of US economy collapsing was "easy loans by Freddi & Fannie so that American Middle class could buy a House...." since again percentage of home ownership in Canada is higher than in US and they have NO Freddi & Fannie.
HOW? How is it possible that the US Media has sold such a lie as "there was a Housing bubble in US..."?
You do not expect the US (right-wing LYING) Media to place the blame where the blame for US Housing market and economy falling down belongs? NO. Of course NOT. Because then they would have to state the FACTS as outlined above as to the reason for why US economy (Housing) is doing so badly compared to the rest of the developed world which would be the absolute proof as to what Lunatics the Republican party is and how the US (right-wing) Media has lied and lied to the American people for decades, and continues to do so, to enable the Republican party to be the lunatics that they are, which means the agents of Big Pharma, Big Insurance, aka Wall Street gang, that they are. So instead they had to put the blame on someone else, and given the magnitude of the problem this time they could not blame the problem on the usual escape goats of the past that is the "Illegal Immigrants..", "War on Crime..", "War on Drugs.." etc.. So they had to pin the blame on someone who could not defend themselves, that is in this case the fault was blamed on the "Middle class Americans who could not afford to buy the Houses that they had purchased with borrowed money...."! So they blamed the Middle class for borrowing money to buy a house and NOT on where the blame belongs which is the Big corporations (Big Pharma, Big Insurance, Big Oil, Big Banks, Big Military, aka Wall Street gang) and the US (right-wing LYING) Media that they control, for having lied and lied to American people that for example NHS which would SAVE them about $15,000 to $20,000 per year is "Socialism..." and bad and instead our for-profit-health care system that is bankrupting them to the rate of 2Mill per year so that it can pay $40Mill per year salaries to the members of the Wall Street gang and pay Billions in dividends to the wall Street gang is good. More on this here.
Reference articles:
(1)
Health Insurers Making Record Profits as Many Postpone Care
http://www.nytimes.com/2011/05/14/business/14health.html?_r=1
(2) Homes in NYC, costing more than $5Mill, selling at more than $2500 per Sqft, set records as buyers out-bid each other:
http://video.cnbc.com/gallery/?video=2053196864
This cannot possibly be true unless US is in another planet than planet Earth! Given fact that avg House prices in US at their peak, in 2007, were below $200/Sqft, which is WAY less than what avg House prices are now in Europe, Canada, Asia, etc., given that avg House prices in most of Developed World are well above $250/Sqft. In fact you have to go to 3rd World countries to find avg home prices as low as US.
So question is Why US Housing prices have not kept up with rest of Developed World?
Answers:
1- Lack of essentials such as Universal Socialized health care which would SAVE typical American family $15000 per year, something that rest of Developed World has
2- Our Taxes wasted on one War after another
3- Our Taxes wasted on a Gargantuan Military. OTN, why are we providing FREE Military protection to Japan, Germany, UK, etc. whom all are MUCH richer than US.
etc. WASTE of our money on unnecessary things and not the investment and use of our Taxes in our People as other developed Nations in the World are making. All under the INSANE Con Job of the Republicans as agents of the 1% that "Government is the problem and not the solution" - More on this point.
To instantly see how avg house prices in US at below the truly pathetic $200 per Sqft, are way way below avg home prices in rest of the developed & developing World, check out: http://www.cnbc.com/id/47082429
Other lies by US Media
That is along such other Ultimate LIES told by US Media such as:
1- Iraq has WMD and thus the reason we need to wage War on this small country. A Lie that is so well known to the whole World to be a total lie by now that does not require further repudiation here.
2- Health care in US is the best in the World, better than Europe or Canada. A Lie that is mind boggling in its scope given the fact that 50Mill Americans have no health care while ALL Europeans, Canadians, etc. have health care, given that 1Mill+ Americans go bankrupt each year due to health care costs while ZERO Europeans, Canadians, etc. go bankrupt each year due to health care costs, or given that US health care results rank with poorest of 3rd World countries, More.
About the 1st Ultimate LIE, that there was a "Housing bubble in US 2007 - 2008...."
1st some background facts and data:
1- Avg prices for Houses are computed based on a 2500 Sqft house in US to a similar size house in Canada, UK, Australia, France, etc., it was computed by throwing out the most expensive areas such as San Francisco and the least expensive areas such as North Dakota.
2- For a sampling of the FACT that avg House prices in Europe, Canada, Asia, etc. are well above $250/Sqft and nicely rising from these much higher average prices, here is one proof sample:
http://www.cnbc.com/id/38225475?slide=1
So contrary to there having been a "Housing bubble in US...", what the real FACT was and is, is that the US Housing market, like the rest of the US economy has not been keeping up with the rest of the Developed World for the last 30 years, and it fell so far behind the rest of the Developed World by 2007 that Capital Stopped coming to US and instead started going to the rest of the Developed World where beside Housing prices being much higher than US and going Higher, the Currencies such as Euro, Canadian Dollar, Australian Dollar, etc. were all going higher vs the US Dollar too.
The other ULTIMATE lie: "Government forced the Banks to give mortgages to people who could not afford it"
Another great LIE to come out of the Republican party, aka Wall Street gang, about Housing is this LIE:
"It was Government who forced the Banks to give mortgages to people who could not afford it"
This is a TOTAL LIE as there is NO law passed by a Congress and signed by a President into LAW, which told banks to "give mortgages to people who could not afford it."
So this is a Myth, conjured up by the Republican party and right-wing Media/Cabal and repeated over and over by them, to put the blame on the Government and Middle Class, rather than where it belongs which is US Government controlled by right-wing Media/Cabal (aka Wall Street) behind the scene.
And it should be obvious that such a Law could never exist given how US Government was/is controlled by Wall Street via their Army of lobbyist backed by 100s of Billions of Dollar to label anything that helps the American people as "Socialism Socialist" while Rich & Big banks got to write the rules. The BEST example of which was Jamie Dimon of JPM testifying recently in the Senate and the Republican senators falling over each other to KISS his arssss.
Of course another way of seeing that the US Government has rarely done anything for American people that the Big banks, Big corporations (aka Wall Street gang) did not like, is the FACT that US Government has not even passed into Law something as basic and essential for the well being of the American people as Universal nationalized health care (NHS), something that would SAVE the typical American family of 4, or small business hiring them, $15,000 per year, something that every, repeat every other developed Nation has had for decades. WHY? Because the $1-Trillion per year in SAVINGs that NHS would bring the American economy (People & Small businesses), would come at the expense of the Wall Street gang and a small privileged class at the top (aka 1%). So do you really think a Government that has NOT even provided its people with such basic and essential thing as NHS, would tell the Banks that "give mortgages to people who can not afford it". Of course NOT.
And in fact if Government had told the Banks "give mortgages to people who can not afford it", this would have been a horrible thing for the People and generally a boon for the Banks unless the Government also went further and said:
1- You cannot charge exorbitant interest rates
2- If someone loses their Job due to no fault of their own but due to Wall Street greedy bastards shipping his/her Job to China, then suspend his/her Mortgage payments until he/she gets a Job
3- Insurance companies you cannot increase your premiums for the SAME Dollar amount that you are ensuring
4- And of course provide American people with NHS, as Europeans, Canadians, Israeli's etc. have as a result of which an American home owner will not see health care cost wipe out their savings & spending powers
etc.
What about Mortgage reduction efforts
Another Con Job and non-sense coming out of right-wing Media is such non-sense as: "But how about the Government effort to help the home owners via the $20,000 Mortgage principal write off.."
Answer: This deal is BS on so many levels.
1st, if you going to have principle reduction is should apply to all.
2nd, why a measly $25Bill amount, why NOT $750Bill like the Republicans & Dems gave to Banks and Wall Street?
In fact, Americans do not need a pathetic $20,000 Mortgage principal reduction, but what they/we need are Universal Socialized health care and Universal Socialized College education which would SAVE a typical family of 4 about $500,000 in their life time, at current prices of health care and college education in US. Which Socialized services, Germans have, French have, Norwegians have, Danish have, Chinese have, Israelis the beloved nation of Republicans and right-wing Media/Cabal have etc. as a result of which these countries have MUCH LOWER unemployment, much better economies than US and average home prices that are well above the US average home prices and nicely rising.
So just think about how US Government is run by Big Banks for the Big Banks and they will say any lies and non-sense via the right-wing Media that they control to get away with this Con Job that in a heart beat Government gave the Banks Tax payer provided $750-Billion TARP, but when it comes to helping the average People then these same Big Banks via the right-wing Media that they control will say any such non-sense as:
"Why should I have to pay the mortgage of my neighbor..."
When the FACT of the matter is that we would NOT be having the current Housing situation in US if our Government had:
1- Regulated insurance companies, from health insurance to house insurance from charging whatever that they want to charge without rational reason.
2- We had Socialized health care, higher education, etc. which would SAVE typical family of 4 about $500,000 in these essential areas
3- We had not been WASTING our Taxes on one War after another and on a Gargantuan Military which lets states is a 100% Socialized service
Things that countries such as Germany, France, Sweden, Denmark, etc. successful Capitalist countries do.
Now why all these countries with much better economies than US have Universal Socialized health care college education? Because these are some of the BEST investments that you can make in your People & Country, IF you cared about the Country. Because a healthy and highly educated people pay much higher Taxes over their life times, resulting in "many more boats rising".
Another LIE. Freddi & Fannie
Freddi & Fannie as semi Government run organizations is another favorite scare crow of the Republicans and the right-wing Media cabal behind them.
To appreciate these FACTS, lets look at the example of Canada vs US. You see they have HIGHER percentage home ownership in Canada than in US and avg home prices in Canada are MUCH HIGHER than avg home prices in US too. So unless US is on another Planet than Canada, which it is not, in fact US borders Canada, then the question becomes WHY can for example Canadians afford to buy homes with much more Cash down than Americans and homes that are on average much more expensive too than American homes? Put in simpler term, percentage of home ownership is higher in Canada than in US, and they do not have a "Freddi & Fannie" to have "made getting loans easier... AND avg house prices in Canada are much higher than US too. How can this be? Of course this completely destroys the non-sense by US (right-wing) Media that the cause of US economy collapsing was "easy loans by Freddi & Fannie so that American Middle class could buy a House...." since again percentage of home ownership in Canada is higher than in US and they have NO Freddi & Fannie.
HOW? How is it possible that the US Media has sold such a lie as "there was a Housing bubble in US..."?
You do not expect the US (right-wing LYING) Media to place the blame where the blame for US Housing market and economy falling down belongs? NO. Of course NOT. Because then they would have to state the FACTS as outlined above as to the reason for why US economy (Housing) is doing so badly compared to the rest of the developed world which would be the absolute proof as to what Lunatics the Republican party is and how the US (right-wing) Media has lied and lied to the American people for decades, and continues to do so, to enable the Republican party to be the lunatics that they are, which means the agents of Big Pharma, Big Insurance, aka Wall Street gang, that they are. So instead they had to put the blame on someone else, and given the magnitude of the problem this time they could not blame the problem on the usual escape goats of the past that is the "Illegal Immigrants..", "War on Crime..", "War on Drugs.." etc.. So they had to pin the blame on someone who could not defend themselves, that is in this case the fault was blamed on the "Middle class Americans who could not afford to buy the Houses that they had purchased with borrowed money...."! So they blamed the Middle class for borrowing money to buy a house and NOT on where the blame belongs which is the Big corporations (Big Pharma, Big Insurance, Big Oil, Big Banks, Big Military, aka Wall Street gang) and the US (right-wing LYING) Media that they control, for having lied and lied to American people that for example NHS which would SAVE them about $15,000 to $20,000 per year is "Socialism..." and bad and instead our for-profit-health care system that is bankrupting them to the rate of 2Mill per year so that it can pay $40Mill per year salaries to the members of the Wall Street gang and pay Billions in dividends to the wall Street gang is good. More on this here.
Reference articles:
(1)
Health Insurers Making Record Profits as Many Postpone Care
http://www.nytimes.com/2011/05/14/business/14health.html?_r=1
(2) Homes in NYC, costing more than $5Mill, selling at more than $2500 per Sqft, set records as buyers out-bid each other:
http://video.cnbc.com/gallery/?video=2053196864
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COMMENTS Posted: 82 Pending: 1
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Housing prices in US will EASILY DOUBLE over the next few years, simply due to the fact of how low average House prices are in US compared to the rest of the developed World and given the FACT of how little Houses have been built in US over last 4 years.
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Why does the right-wing LYING Media keeps engaging in doom & gloom about real estate? Because they want you to rather than investing in your communities, which would be the result of you buying Homes to live in, to send your money like a good SLAVE to Wall Street to buy Gold & Stock certificates, so that the right-wing Media/Cabal behind the Wall Street gang can get Richer & Richer off you. Also when you do not buy a House to live in, beside not investing in your communities, you will be of course renting, which usually is from the Wall Street Land LORDS, which again is another reason for them to doom & gloom buying Homes and instead have you rent from them to make them Richer & Richer off you. After all avg House prices in NYC is a staggering $2500 per Sqft and going higher while avg House prices in rest of USA is less than the truly pathetic $200 per Sqft, which is less than ALL developed Nations, in fact on par with most 3rd World countries.
You have NAILED it on the head my friend. So dont be FOOLED by Wall Street owned Media and send your money to Wall Street to buy Stock & Gold Certificates. Invest in your communities, in yourself, by buying Housing that you, your Children & Grand Children, can live in. After all when you buy a Gold Certificate, which is what right-wing lying Media wants you to as per non-stop Gold advertising on such right-wing Wachk shows as Rush, Beck, Orielly, etc., then that Gold certificate is absolutely useless, unless a GREATER FOOL shows up and pays you more for it. After all you cannot sleep in a Gold certificate, you cannot take shower in it, etc.
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Aanother way to see that there was NOT a Housing bubble in US, beside the FACT that average Housing prices in US are below the pathetic $200 per Sqft which is LOWER than avg Housing prices in all of the developed World, is to look at Gold prices. That is over last 10 years Gold prices have gone up like 400%, here: http://www.kitco.com/charts/popup/au3650nyb.html vs avg Housing prices in US during same time barely went up 100%, so how was Housing in a Bubble and it went up barely 100% but Gold is not in an ULTIMATE bubble! Which question is specially pertinent to ask from for Republican lunatic doom & gloomers whom are pumping Gold all the time as "store of value". After all you cannot eat Gold, you cannot drink Gold, you cannot sleep in Gold, you cannot take shower in Gold, you cannot make love in Gold, you cannot raise your Children in Gold, etc. that you can do with real assets such as Housing. And you cannot rent out Gold either and make rental income from it as you can do by investing in Housing & real-estate. The ONLY thing that you can do with Gold is that some GREATER fool will show up and pay you more for it. So if a GREATER fool does not show up and pay you more for Gold, then all you can do with Gold is watch it fall in value.
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For the record, this is still the worst article posted at RNP. The logic used to explain your point is inaccurate, as has been pointed out in the comments below, and it seems like your hatred of US policies has blinded you to the truth. To be clear, this article is false.
Once again you Republicans open your mouth without backing it up with any facts! 1st, which logic are you referring to when stating: "he logic used to explain your point is inaccurate" 2nd, you state: "your hatred of US policies" which polices stated in this article arrives you at such an statement? The author seems to have great love for American people and hatred for those whom hate the American people. Oh I am sorry, you are Republican lunatic and thus you people say whatever you want without giving any specifics.
To be honest, I don't have the time or energy to fight over something so obvious. Ask any economist whether or not the housing bubble is a myth. Go ahead - go to your local college and ask the Economics department. I know it'll be hard to find for you all because you've never seen a business class or business professor's office (because you clearly have no idea how things work), but give it your best shot. I'm sure even you might find someone that will tell you how ridiculous you are. Posters Debtkills and KS have already explained the points, which you disagreed with, that show why this article is false. It's not my problem that you can't comprehend them. Seriously, it's laughable how idiotic this site is. Enjoy living in your bubble in whatever part of the world you're from.
Retard, you want to see how dirt cheap low avg House prices in US are compared to rest of the developed & developing World, check this out: http://www.cnbc.com/id/47082429 Even in a developing country like Thailand avg House prices are above $200 per Sqft which is HIGHER than avg House prices in US. Of course an ounce of brain would tell anyone that this would be the case when avg American has to pay $15,000 per YEAR and more for health care when in other developed & developing World countries you either get health care for free for Taxes you pay or at most you pay like $59 per month as in Canada.
http://www.realnewspost.com/sa.php?a=57161 Even your beloved Paul Krugman believes there was a housing bubble. Now what do you have to say? And you're still an idiot - comparing housing prices per square foot between countries is not an appropriate barometer. Anyone with an IQ over 7 would know that.
1st, who said Paul Krugman is our beloved. he is however obviously more an intelligent person, or more of a truth speaker than typical Wall Street lying machine showing up in US Media. 2nd, as per FACTS, numbers, presented, obviously there was Not a housing bubble in US given the fact that avg house prices in US are some of the LOWEST in the developed World. Do you understand what LOWEST means?
You do understand what BUBBLE means, don't you? You also realize that you're one of the only people in the world that believes the bubble was a myth, don't you? You are truly too stupid for words.
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Related to this article, Stocks just passed 13,000, they are now only 10% short of their 2008 Highs! How in GODS name is the Stock market going UP & UP & UP & UP when home prices for average American have not risen since their fall in 2008! After all the Stock market crashed in 2008, it went as low as 6500, due to Housing prices having declined for 99% of Americans, and according to US Media House prices for the 99% have not risen by much since their 2008 levels. And also keep in mind that avg Home prices for the 1%, 100% of whom own homes, have risen nicely from their 2008 highs. And since they mainly live in NYC, Washington DC and San Francisco their avg Home prices are already many times of what avg Home prices are in rest of the USA. So how is it possible that main asset of 99% of Americans has fallen 20 to 30% from their 2008 high while Stock market is almost back to 2008 highs! The answer is that because Wall Street has near total control over our Government, that our Government, which means our Taxes, are run for the benefit of the Wall Street (aka 1%) rather than Main Street. People wake up to how "Deep the rabbit hole runs"
I'm curious why you assume that the stock market and housing prices are so closely correlated?
No one said that the "Stock market and housing prices are so closely correlated", but certainly there needs to be a correlation between Wall Street and Main Street. After all Wall Street is supposed to measure the health of Corporate profits, and corporate profits should be dependent on how well the main street is doing, whom is able then to buy their goods and services. So unless Wall Street is the enemy of the Main street, that is Wall Street thinks its job is to make profit at the expense of the main street, that is for example finance the moving of 10s of Millions of Jobs from US to China, which China is a Communist Capitalist country, which means about 70% of their economy is operated on Socialized basis, which Socialized based industries Wall Street opposes for USA while loves them in China.
I agree that corporate profits "used" to be tied to main street, but the more we become a global economy the less that point is true. A lot of companies have been meeting or beating expectations based on overseas performance in spite of zero to low domestic growth. Caterpillar is a perfect example - stellar profits from selling equipment all over the world...just no buyers in the US. A second point that you hear reiterated during a recession is the productivity increase. "Wall Street" has lowered expenses by laying off employees (and associated benefits like healthcare and pension matching) and seen improvements in the margins because of it. I'm not disagreeing with your points, just adding some detail.
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Related to this article, read this: http://www.cnbc.com/id/46413058 This article states: "As Investment, Renting Beats Owning '100% of Time'" This is another ABSOLUTE EXAMPLE of the War, the Con Job, that the Rich (aka 1%) is waging on American people. For the EXACT opposite of what this article writes is the truth: that is when you Rent you lose 100% of your money 100% of the time. Whereas when you own a home you will most certainly make 100% of your money and maybe much more. For example if you rent a $500K House for $3000 per month, after 30 years you will own a total equity of ZERO, but if you buy that same house, even if the price of the house does not go up in 30 years, you will still at the end be $500,000 richer - whereas ZERO is how much you will own after 30 years if you rent. And an instant way to see that renting from your Land Lord is the surest way to the poor house, is to see what percentage of the 1% rents? And the answer is that not are 100% of the 1% owners, that they own MULTIPLE Multi Million Dollar homes. So why does the 1%, who controls the US Media such as this right-wing piece of trash CNBC, wants you to rent? It is so that you invest your money in Stocks and Gold so that they can get even richer of you. If you still do not get it that this non-stop negative reporting by US Media is part of the Con Job, War of the 1% aka Wall Street gang on Middle class, ask yourself: Does Santorum own or rent? Does Romney own or rent? Do Koch brothers own or rent? Does Murdoch own or rent? Do Rush, Beck, etc. own or rent? Does Forbes own or rent? ALL these members of 1% do NOT rent and Own Multiple Million Dollar homes. And in fact many of them, such as Forbes, Murdoch, Koch brothers, etc. own Multi Million Dollars Villas in Europe, while in the right-wing Media outlets that they own they call Eurpe to be Socialist.
Excellent post. This is just MORE right-wing Media doom & gloom reporting on real estate so that you will Rent and not buy homes so that the Wall Street gang can be your Land Lords and so that you invest your money in Stocks and Gold so as to make them richer and richer, allowing them to OWN Multiple homes while having brain washed you that Real Estate is bad investment and Stocks & Gold are good investments, which when you think about is the Ultimate Con Job to get you not to invest in yourself and your communities, which would be buying Homes to live in, and instead brain wash you to fork your money over to wall Street in exchange for Stocks and Gold certificates which enables them to buy Multiple Multi Million Dollars homes to live in! If you still do not get it that this non-stop negative reporting by US Media on real estate is part of the Con Job, War of the 1%, on Middle class, ask yourself: what percentage of the 1% rents? Answer is 100% of the 1% own homes and do not rent, and in fact they own MULTIPLE Multi Million Dollar homes
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hi, canadian here. i pay 60 bucks a month for health care. and the system is so slow that anyone with cash will go to a private clinic or to the states to get surgery so they dont wait 2 years! it does protect against emergency however which is the good side. we are forced to pay the 60 bucks or the gov comes at us in other ways so you dont get a choice if you use it or not. its a week at least to get to see a doc unless you bump kids and elderly.slow.running your life with dept is risky. whats wrong with saving cash and paying cash? slower but not as risky.until this is realized then folks will keep voting this reality.all this banter about the system is very short sighted. look at a 100 year chart of the gold to DOW ratio.it is the way the fiat debt system works.nothing but restructuring will fix it.for a few years you could get a 0 down morgage in canada and its hurting young families here.US spends more on military than the rest of the world combined. thats 50 % of your money.duh! stop it and you can afford to do all kinds of things for your people.51% tax bracket for rich up here
You dont live in Canada. You are just a Republican lunatic which is clearlxy evident by your rant about "fiat debt system" and Gold and other Republican Ron Paul psycho talk.
prince george bc, and i am a lunatic for living in this frozen palace.ron paul is the only strait shooter.don't believe me then google "isreal wants americas help". then check the 100 year gold to DOW ratio chart.keep your findings to yourself if im right on that. of course i have traveled abroad and met many awsome folks in europe while trying to escape the snow and the cool thing about those countries is how hard it is to find Made in China products and obese people.its no wonder the banks over there are having a tough time with the euro, there is no need for it without corporations.the neighbors all trade with each other.the world markets could tank and they wouldnt even notice. they just live and take care of each other and dont piss their neighbors off with their beliefs.that is freedom.its not a monster just a simple approach to enjoying their blip of life on earth.my question is why is a few thousand jihaad got so many billion tv watchers so scared?US is the country of freedom and power.those pussys just literally polked you in the toe.man up,dont be an ass,kill them, get out
I read your comment 2 times, and it makes absolutely no coherent sense, except the babble where you praise Ron Paul. No wonder. Only a nut case will find that nut Ron Paul as being wise. To be clear Ron Paul is right about the unnecessary Wars and our Gargantuan Military bankrupting us and thus by association Israel bankrupting us, but beside that, when it comes to his positions about "Government is the problem and not the solution" and "The Fed... & Gold" he is a total nut case, he is just another Republican lunatic.
my point.we all know that a gold standard starts wars itself.it creates a whole new reason for war.the 2 big issues in this and any election are economy and military spending over social programs.in order to make any informed desicion we all need to know why.i believe the militarys think that in order to further their tech and keep from falling behind they need to be testing on the battlefield, otherwise it will rust and leave them vulnerable.judging by the amount of money all other countries spend on army needs its clear to me that the US is alone on this idea and the military complex is out of control in your land.the economy is a topic that is based apon its own foundation.if you cant answer fully to your kids the question "where does money come from?" then your not informed to the money cycle and cant see it is as perennial as the grass.judging from the way gov opperates they dont understand either.in the next couple of years gold and DOW will be equal. this is fact.a savy investment long term will be to buy gold and trade it for dow when this happens.study up on economics and win
the republican party is no longer.it needs a new name and mision statement.ron paul is the only republican up there.small federal gov to protect the constitutional rights of the greatest ever written paper on how to become and became what is america.to let the states decide the local decisions that are so important and give the choice to be more socialist if needed.freedom on a more personal level.rarely is anyone strictly one way or another.the needs of ones life change over time and the votes and law with it.that said, i find it proper that you vote for your situation, whatever it is and that is great.what really troubles me is those with power and money are using tv and sensorship to guide the process.if cnn and fox ran documentrys all day about the fed, constitution, and military complex we would be having a much different chat.they are dividing the masses and thats why you guys name call instead of debate the long term view of country and humanitys future in the US.paul is at least keeping those crazy bastards on both sides in check.forcing them to not talk about who each screws.
You are just another Ron Paul Gold pushing psycho. After all keep in mind that you pay for Gold with US Dollar, or Euro, etc. according to you psychos "Fiat Money", which is money printed by Fed, or ECB, etc. central Bank. So then Gold is "Fiat Money", since we pay for Gold with US Dollar, Euro, etc. "Fiat Money".
stop living in a bubble buddy, the rest of us in the world are here and watching.be glad you have a dude like paul around as in canada we dont.we dont get to ask important questions on a fed level like what he is asking.we just tag along with your ideas cause they used to work well but we are limited by british law.harper is ready to go to iran.he said hes just waiting for your green light.we are one of the most efficiantly taxed nations inthe world and you will be too if you dont let other voices into your debates.there is nothing else you can do as you have to pay your bills to chaina or lose your dollar.when that happens you will be crushed like rome or any other great dyanasty in history if you study up.the rest of us in the world are just going to sit back and watch it unfold as it should if the US doesnt wake up fast.if you dont then US doesnt deserve to be #1 and nature will take care of itself.other than our bank and tax policy we have more freedom up here than you to live as of the national defence act being passed.we can watch southpark without the bleeps.lol, for example.
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Anyone who wants to know what is really wrong with USA, which are due to lies and lies and con job of the Republican party, to be exact the Wall Street gang and the right wing Media behind them, should read this article. Anyone who wants to know how this all of a sudden fear-mongering about Debt by the Republican party, to be exact the Wall Street gang and the right wing Media behind them, is just more of their con job, should really read this article and then read some of the comments by the Republican psychos here.
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"1st, Euro and US Dollar are perfect comparison currencies because they represent the currencies of the number 1 and number 2 economies in the World. Cayman Islands Dollar, you freaking retard, represents the currency of a tiny tiny economy and thus has no relevance in such comparison." EXACTLY MY POINT! LMAO You walked RIGHT INTO THAT ONE! When "comparing" the nominal exchange rate of two countries, you can't simply say, okay, one is at a higher number than the other, so it's "more valuable." NO MORE THAN YOU CAN SAY A SHARE OF TZOO IS MORE VALUABLE AT 29 SHARE PRICE THAN DELL IS AT SHARE PRICE OF 15. DELL'S MARKET VALUE IS SEVERAL HUNDRED TIMES HIGHER! Just as you must consider how many stock shares are in circulation, you must consider how many units of currency are in circulation. Dell's value is 28 billion dollars. Stock price = 15. 28 billion divided by 15 = almost two billion, THE EXACT NUMBER OF SHARES IN CIRCULATION. There are WAY more dollars in circulation than Euros. Hence the market value of all of the dollars in circulation is WAY HIGHER than of Euros. LMAO
You freaking retard: you have proven yourself wrong with your OWN example, that is whereas comparison of US Dollar and Euro is a 100% correct comparison because these are currencies of Worlds number 1 economy (EU at $16T) and Worlds number 2 economy (US at $14T), Cayman Island Dollar is absolutely a useless comparison and a publicly traded company's shares are even less of a valid comparison. In fact US Dollar and Euro are such excellent comparison that the World currency markets have them in what is called a major pair, that is Euro/USD trade which is the biggest trading currency in volume by far. And lets state these other facts: 1- US Dollar has fallen vs currencies of all developed nations by a staggering 30 to 50% over last 8 years, as the World finally became aware of what a screwed up place US is due to lies and con job of Republican lunatics and right-wing Media, from the unnecessary Iraq war to US not having something as basic and essential for operation of an economy in today's modern World as Universal Nationalized Health Care, something that ALL developed nations have. 2- It is Republican lunatics and right-wing Media that were saying, and still do, that "Euro is going to crash" because of them being "Socialist" and we told you EXACTLY because Europeans operate a sensible amount of their economy on Socialized basis, such as having Universal Nationalized Health Care that their economy will do much better than US economy and their currency will be much more valuable than US Dollar and as we have been PROVEN RIGHT again and again and you WRONG again and again, you change your tune.
Wow. I'm beginning to see the source of your problems. Your reading comprehension is pathetic. My whole POINT is that there IS NO rational comparison of the Euro vs the Dollar in the way that you compare them. When you say that the Euro is more valuable than the dollar because the exchange rate is 1.35 to 1, that' LIKE saying that TZOO is more valuable than DELL because the ratio there is 29 to 15 (and yet, Dell's market value is a few hundred times what TZOO's is.) Unless you take into account how many units of the currency, or shares, are in circulation (and you must include M1, M2, M3, etc, not just paper dollars/euros), THEIR IS NO COMPARISON. THE EURO IS COLLAPSING BEFORE OUR EYES. COMPARED TO MOST OTHER WORLD CURRENCIES, AND THE ONLY REAL MONEY, BULLION, THE EURO HAS LOST 1/2 ITS VALUE IN A DECADE. Of over 200 nations in the world, the most socialist in the world have the HIGHEST DEBT IN THE WORLD. 18 of the top 20 debtor nations are EU NATIONS: http://www.cnbc.com/id/30308959/ I can create temporary prosperity too if I can also write trillions in hot checks. LOL
As others have noted you are a freaking moron, you are really a great example of what lunatics Republican right-wingers are, for as noted: 1st, Euro USD are a major currency pair because they are the most apt currencies to compare. They are total opposite of the example of TZOO DELL. Or dont you brain dead psycho not know that Euro USD are a major currency pair! Are you really that brain dead? Check out any FOREX tables and you will see Euro USD are a major currency pair and there is no TZOO DELL as a pair there. 2nd, Debt is not necessarily bad, Debt can be great, in fact Debt is KEY part of Capitalism. That is for example if we borrow $1-Trillion Dollars and with that we employ 10-Million people whom then create a Renewable Energy system that over next 100 years saves us $100-Trillion in Oil, Coal, etc. charges, and also creates a much cleaner environment, then that is (or was) a great Debt. Why are we wasting our time talking with this brain dead moron! Admin please block him from spewing his mindless rants about Debt.
Wow RealNews, you sure do have a lot of sockpuppets. "We are wasting time" -- right..."we"...talk to yourself a lot do you? LOL And don't worry, um, "Erdogan", admin (i.e., YOU) have already blocked me (comments pending approval). As usual, hysterical whining socialists scream loudly for their rights but are always the first to cry for the free speech of others they disagree with to be censored. LMAO And not everyone who disagrees with you (and that would be any sane person with an IQ over 80) is not a Republican right-winger. I'm a registered Democrat and social liberal and always have been. People like you make the rest of us look bad with all your insane hysterics and drama queen behavior. BTW, I did a "whois" on this site and got the owners/agents name. I then found it here as well: www.nsopr.gov. Figures.
You are such a lying psycho it is quite funny if it was not sad. To be exact: 1st, You call yourself a "social liberal" now! WOW. Then you must support Universal Nationalized Health Care (NHS), something that ALL the "social liberal" parties in the developed World support. Hek all the Conservative parties in the developed World support, with the exception of Republican lunatics in US that call NHS to be "socialism"! So do you support NHS or not? For again all the "social liberal" parties in the developed World support it. 2nd, you Republican lunatics keep throwing the word "socialists socialists socialists socialists..." all the time, as you have done in your comment again here. So what is that we have advocated for in this article or our replies that smacks you of "socialists"? By answering or not answering this question I will prove what Republican lunatic Con artist you are. Go ahead, answer this question.
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SEE THE LINKED SLIDESHOW FOR WHAT NATIONS HAVE THE MOST DEBT (18 OF THE TOP 2O ARE IN THE EU!) The fact is that the Socialist nations are not sustainable and have only been able to create the illusion of prosperity by writing trillions in hot checks for decades. Of the 20 most indebted nations in the WORLD, 18 are EU nations: http://www.cnbc.com/id/30308959/ The EURO is DOOMED. It's impossible to go on for long with that kind of debt. Socialism works great until you run out of other people's money and no one will finance your lavish credit card spree any longer. http://www.cnbc.com/id/30308959/
1st, Debt is not necessarily bad, Debt can be very good, IF it is put into good use rather than wasted. That is for example if we borrow $1-Trillion Dollars and with that we employ 10-Million people whom then create a Renewable Energy system that over next 100 years saves us $100-Trillion in Oil, Coal, etc. charges, and also creates a much cleaner environment, then that is (or was) a great Debt. Or if you issue $1-Trillion in Debt with which then you find the cure to cancer, and thus save $100-Trillion over next X years, then again that Debt was a great Debt. OTOH, if you borrow $1-Trillion and waste it in unnecessary Wars 10,000 Kilometers from your land, as US has done in Iraq & Afghan wars, then that is a very bad Debt. If you borrow $100s of Billions of Dollars to fund a gargantuan Military, such as have 200,000 US troops in Europe at cost of $100-Bill per Year to American Tax payers, then that is a again a very bad Debt. 2nd, with this comment: "The EURO is DOOMED." you prove what brain dead psycho you are. Euro since its introduction in year 2000 at 1 to 1 to US Dollar has GAINED a MIGHTY 37% against US Dollar. So How much longer does Euro have to be MUCH MORE VALUABLE than US Dollar for you to face the fact that you are brain dead?
The Euro has LOST about 15% of it's value against the dollar in the last five years, even while the dollar itself lost significant value. Relative to REAL MONEY (i.e., bullion) the Euro has lost almost 1/2 it's value in a decade. Even the socialist leaders of EU nations are saying the Euro could collapse "if drastic steps aren't taken." My neighbor's house was much more valuable too. Five years ago. Now it's worth 1/2 as much and he's underwater $100k. TOO MUCH DEBT was the cause. Socialism works great until it runs out of other people's money.
You are a freaking moron of the highest order. You are best example of what lunatics you Republicans are. 1st, you moron: Euro since its introduction in year 2000 at 1 to 1 to US Dollar has GAINED a MIGHTY 38% against US Dollar. So How much longer does Euro have to be MUCH MORE VALUABLE than US Dollar for you to face the fact that you are brain dead Moron? How much longer? 2nd, US Military is 100% Socialism, and you Republicans love US Military. In fact the countries that are more "Socialism" work much better than US as you can see from: China that is the most "Socialism" country, given that 50% of Chinese economy is running on Socialized basis and Chinese economy is doing much better than US economy as per them having 4.2% unemployment, HUGE Surplus, 9% growth, etc. good news Or as per Brazil that once they elected a Socialist president, then Brazilian economy went from being one of the worst to being one of the best.
LMAO! Now you're "World". How many monikers/sock puppets do you have? Might want to change up the wording a bit for each one you idiot. @ No2RepublicanConJob | Nov 15, 2011 10:15 AM ET QUIT CALLING ME A REPUBLICAN! I AM A PROUD LIFELONG DEMOCRAT! PEOPLE LIKE YOU MAKE THE REST OF US LOOK BAD! MORON! And get your facts straight you idiot. The Euro is not "more valuable" than the dollar just because the nominal exchange rate is a higher number. That's comparing apples and oranges. It all depends on the amount of currency in circulation. Just as with stocks. Is a company with a stock price of 29 "more valuable" than a company with a stock price of 15? NO! TZOO is at 29 and has a market value of $440 million. DELL is at 15 and has a market value of $28 BILLION. Same principle you effin retarded moron! You built your entire insane blog on the whole notion that the Euro is "more valuable" than the dollar because of the nominal exchange rate. EPIC FAILURE OF THE CENTURY! The Cayman Islands Dollar is exchanged at .90/Euro. Is the CAYMAN ISLANDS DOLLAR "90% AS VALUABLE" as the Euro? Cuz THAT is exactly what you're saying dumbarse.
I have to agree with World that you Republicans are freaking morons: Because: 1st, Euro and US Dollar are perfect comparison currencies because they represent the currencies of the number 1 and number 2 economies in the World. Cayman Islands Dollar, you freaking retard, represents the currency of a tiny tiny economy and thus has no relevance in such comparison. 2nd, it was you republican lunatics and the right-wing LYING Media that a short while ago were saying that "Euro is going to crash.." AND we were telling you NO that is totally false because European economies are operated for benefit of their Main street whereas US economy is operated for benefit of Wall Street, such as for example ALL Europeans having free health care for the Taxes that they pay because they ALL have Universal nationalized health care (NHS), whereas an American family of 4 has to pay an astonishing $15,000 per year and more for health care on top of the Taxes that they pay. Now that we have been proven right, you state your new non-sense.
You freaking moron: Debt is not necessarily bad, Debt can be GREAT if it is put into good use, in fact Debt is KEY part of Capitalism. That is for example if we borrow $1-Trillion Dollars and with that we employ 10-Million people whom then create a Renewable Energy system that over next 100 years saves us $100-Trillion in Oil, Coal, etc. charges, and also creates a much cleaner environment, then that is (or was) a great Debt. OTOH, if you borrow $1-Trillion and waste it in unnecessary Wars 10,000 Kilometers from your land, as US has done in Iraq & Afghan wars, then that is a very bad Debt. If you borrow $100s of Billions of Dollars to fund a gargantuan Military, such as have 200,000 US troops in Europe at cost of $100-Bill per Year to American Tax payers, then that is a again a very bad Debt. More: http://www.realnewspost.com/sa.php?a=53542
Debt IS NOT "a key part of Capitalism." It IS a "key part" of the MIXED ECONOMY (as any economist calls it) that we have in the U.S. today. Some Islamic nations FORBID debt and are still quite capitalist and function pretty well. The U.S. would function much better if no one, including the government, took on debt and instead FINANCED ALL PURCHASES WITH SAVINGS. You probably don't understand the concept of "savings." Savings represents work already done. Debt represents work you may do someday, or your kids and grandkids will do. Sheesh, you are SO EFFIN STUPID. Even the SOCIALIST MORONS on CNBC's blog all call you an idiot who makes them look bad. Far better to SAVE $1 Trillion and let the savers/private enterprise employ 10 million people. Bureacracy would muck it up like everything else. Agree on the war debt paragraph. We should never go to war without an express declaration of war by Congress and then only to repel an enemy that presents a clear and present danger that necessitates war. Afghanistan and Iraq did not. Amazed that you got SOMETHING right ;)
I hope many people read this response of yours to know what brain dead lunatics, aka Rob Paul followers, you Republicans are. For only a brain dead Republican lunatic, Rob Paul follower, would actually say the things you have written here. To be exact NOT understand that Debt is a KEY part of Capitalism, it is a KEY means by which 99% of the Society, from people, to small businesses to Government, finance projects and growth. Put another way, if it was not for Debt & Taxation, Governments world wide would NOT have been able to finance 99% of their projects and we would be still living in Caves, and you freaking moron would not have any savings.
No, I hate Ron Paul. I've been a registered Democrat my whole life. I'm just not like you, oh convicted child molester. I have a brain and an IQ over 100 and understand that Europe is collapsing under the weight of its own skyhigh debt. You poor fool ;) BTW, my condolences on your being humiliated off of CNBC's blog, by mostly Democrats. You were making them all look pretty bad though lil' fella. You should seek help for those anger issues. Oh, and read a book for phucks sake.
Loved your accurate comments and it's true - he is making you Democrats look bad. I've tried to explain the fallacies in his thought process, but he doesn't want to hear it or learn anything outside his limited field of vision. There are real problems that require real solutions. Unfortunately, Real News Post is not the place for such discussions. It's just a blog about the ravings of a conspiracy theorist and his multiple log-ins.
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