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Even with all of this inflation in the markets too! The three stooges (Obama, Tiny Tim, and Uncle Ben) sure are helping out with those falling prices, ain't they?
Obama and the {D}s created a little spit bubble that was easily popped:
Quote:
The impact of the homebuyer tax credits ended back last spring, and the two quarters of data since then reflect that. Prices fell steeply during the third quarter, down 3.3%. When the credit was in effect, prices rose consistently, up four out of five quarters starting in the second quarter of 2009.
Yep, we told them over and over again ad nausem that as soon as the props were removed there would be a fall. Some people just can not grasp 3rd grade economics I reckon mmmm hmmmm.
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,837,011 times
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Quote:
Originally Posted by summers73
Even with all of this inflation in the markets too! The three stooges (Obama, Tiny Tim, and Uncle Ben) sure are helping out with those falling prices, ain't they?
No, what they should do is keep the market falsely inflated to the bubble it was before. Then we can all pretend and play make believe that homes should be that expensive.
It's funny, I don't normally see you posting things supportive of Obama's policies. It's nice to see you've started to.
No, what they should do is keep the market falsely inflated to the bubble it was before. Then we can all pretend and play make believe that homes should be that expensive.
It's funny, I don't normally see you posting things supportive of Obama's policies. It's nice to see you've started to.
Didn't Uncle Ben speak consistently on price stability? Wasn't he referring to house prices? Since ObamaBush and Uncle Ben are butt buddies, do you think his opinion really differs all that much from Ben? Inflated home prices is a Bush legacy and Obama is proudly trying to carry that torch, hoping it doesn't extinguish until he hands it off to the next Fed puppet.
What a lot of Obama supporters like to pretend is that home prices aren't dropping all that much, because they're gullible to price them in depreciating dollars.
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,837,011 times
Reputation: 6438
Quote:
Originally Posted by summers73
Didn't Uncle Ben speak consistently on price stability? Wasn't he referring to house prices? Since ObamaBush and Uncle Ben are butt buddies, do you think his opinion really differs all that much from Ben? Inflated home prices is a Bush legacy and Obama is proudly trying to carry that torch, hoping it doesn't extinguish until he hands it off to the next Fed puppet.
What you said was ... not helping out with falling prices..... and then you say Obama is trying to carry the torch by keeping home prices high.
That doesn't make much sense seeing how his "keep 'em in their homes" plan is an utter failure. I think it's an utter failure on purpose.
[LEFT]Only 30% of the 5.7 million borrowers who are 60 days delinquent are eligible for the program. 4 million delinquent borrowers are stuck. Of those eligible for the program, only 346,000 have completed the trial and received a permanent modification.
Many of those receiving a permanent modification will slip back into default and head for foreclosure. Many of those who successfully keep their house would be better off if they lost it.
Looking at HAMP from every angle, it's safe to say the program was a failure and another huge wave of foreclosures is coming down the road.
That's nice. IMO, central banks hate deflation. Hurts their bottom line and arrests the flow of money from savers to themselves and their speculator friends. It also hurts government because they cannot claim higher nominal figures in GDP and paycheck amounts, negatively affecting their re-election bids. Bigger numbers make dumb people happy. That and Jersey Shore.
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