Media Dinosaurs blather about their irrelevance

I learned NOTHING from this clip.

double dip in housing?

Does all this Doom and Gloom news just evil self-fulfilling prophecy?

...or simple observations that help us in preparing for collapse?

yes and yes.

ouch, why does my anus hurt?

Krugman: The 3rd Depression

Krugman:

"We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense.

And this third depression will be primarily a failure of policy. "

http://www.nytimes.com/2010/06/28/opinion/28krugman.html

"de-incentivizing" growth...

...the Obama Formula

Trillions for Defense, trillions for entitlements - stratospheric spending. What's gonna happen?

Budget is broken, sez Bill Clinton

"...you can't get milk out of a turnip."

Slick Willie advocates large scale SBA loan guarantees to free up the 1.5 trillion the banks are currently hoarding to gain a million jobs in 6 months time.

Housing recovery as elusive as Jesus and Waldo

as in: not any time soon, Chuckles.

These are Dark Days, people.

home prices

When Shiller speaks... usually no one wants to listen.

just wish him into the corn field and everything will be alright.



Best case scenario:
"starting in 2011, going up at 2 to 3 percent a year"

Worst case scenario:
"when that (bubble) burst, home prices fell in Japan from 1991 to 2006.... 15 years of decline"

do ya feel lucky punk? well do ya?

People who claim to know shit say the chance of a double dip recession has sunk to 20%. Some same the chances have increased.

Everyone predicts slow growth at best.

Obviously, no one knows for sure about anything.

But the consensus ranges from semi-crappy to horribly crappy.

months of right-sizing, still no takers

151 23rd Street in "Greenwood Heights" Brooklyn.

$595K down to $399K

Who do you gotta blow to get this market re-started?

Huaxi, the richest village in China

Do you ever wonder where all that money goes for the cheap electronics and clothes and crap we're always buying? Wonder no more.

In Huaxi, everyone has a villa, a car, free cooking oil, total health care... McMansion-ey American-Dream-like hive living for all.

The catch?

A 7-day work week and you can never leave.

http://english.cri.cn/7146/2009/04/16/2041s475214.htm

Oh, and they're building the 15th tallest scyscraper on earth.

It took only 30 years from a rural muddy-road village to first world trappings.

When do the crystal meth dealers arrive? How many decades before it resembles Detroit?