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  #1  
Old 12/31/08, 5:44 PM
Joseph Burkeson, CMI's Avatar
Joseph Burkeson, CMI Joseph Burkeson, CMI is online now
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Default Where We Are, Where We're Heading (2009)

Where We Are, Where We're Heading (2009)

Quite a long read, well worth the time & effort... Hope he is wrong.



"By three methods we may learn wisdom: First, by reflection, which is noblest; Second, by imitation, which is easiest; and third by experience, which is the bitterest." -Confucius


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  #2  
Old 12/31/08, 6:12 PM
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Default Re: Where We Are, Where We're Heading (2009)

Glenn Beck has been warning his listeners for over a year. I thought he was nuts about 7 months ago, 6 months ago I started listening, reaserching, and reacting. Now it's too late. Financially, we are doomed. Gonna be tough times for congresmen and President elect Obama. Don't know what's gonna happen, but hope it doesn't get too viloent. I am prepaired either way.



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  #3  
Old 12/31/08, 6:39 PM
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Default Re: Where We Are, Where We're Heading (2009)

I/ve been reading this guy for the last few months.

Like I kept saying in the lead up to the election

"we are so screwed no matter who wins."

Let's hope Obama and the democrats can fix this mess without long term damage.



He who knows nothing is closer to the truth than he whose mind is filled with falsehoods and errors - Thomas Jefferson - Founding Father

The democracy will cease to exist when you take away from those who are willing to work and give to those who would not. Thomas Jefferson

Never underestimate the difficulty of changing false beliefs by facts.
- Henry Rosovsky-Harvard

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  #4  
Old 1/1/09, 7:08 PM
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Default Re: Where We Are, Where We're Heading (2009)

And....

The Mother of all financial problems maybe as soon as the next 7 years?

http://www.ocregister.com/articles/m...health-leavitt

Economists from Standford and Harvard belief the Medicare crises is so large, that we won't be able to tax our way out of it. The size, cost and scope of the Federal Government must be reduced or we can't survive it.

Last edited by whandley; 1/1/09 at 7:11 PM..
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  #5  
Old 1/1/09, 7:24 PM
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Default Re: Where We Are, Where We're Heading (2009)

Stop listening to these kind of predictions. No one can predict what will happen. It becomes a self-fulfilling prophecy. Someone predicts doom and people react in a way that creates the doom. Example. I am invested in the REIT's that he predicts will collapse, if everyone who is invested in the REIT's listens to him and pulls their investment out it WILL collapse. DON'T BELIEVE THE HYPE. If this guy was a home inspector, he would be the ultimate DEAL KILLER.



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  #6  
Old 1/1/09, 7:31 PM
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Default Re: Where We Are, Where We're Heading (2009)

I wish it were that simple. The housing industry over the past 10 years has been operated like a giant Ponzi Scheme. The industry built and built and built new product to sell to buyers who were "Then, Currently and will be in the Future" unable to service the mortgage payments they were allowed to acquire.

We can certainly re-write and adjust all the loans in the country. This of course will have a less than desireable impact, being a continuing substantial drop is housing values. Remember, house's are valuable because not everyone can own one. When the government starts giving houses away as it is currently, homes will be like VW's, everybodys got one....
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Old 1/1/09, 7:32 PM
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Default Re: Where We Are, Where We're Heading (2009)

Quote:
Originally Posted by mmerino View Post
Stop listening to these kind of predictions. No one can predict what will happen. It becomes a self-fulfilling prophecy. Someone predicts doom and people react in a way that creates the doom. Example. I am invested in the REIT's that he predicts will collapse, if everyone who is invested in the REIT's listens to him and pulls their investment out it WILL collapse. DON'T BELIEVE THE HYPE. If this guy was a home inspector, he would be the ultimate DEAL KILLER.
The predictions of Medicare and SS security failure are not WAGs but based on the math.

As to Derringer's predictions, he got 2008 almost exactly right when most others lied to us.



He who knows nothing is closer to the truth than he whose mind is filled with falsehoods and errors - Thomas Jefferson - Founding Father

The democracy will cease to exist when you take away from those who are willing to work and give to those who would not. Thomas Jefferson

Never underestimate the difficulty of changing false beliefs by facts.
- Henry Rosovsky-Harvard

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  #8  
Old 1/1/09, 7:35 PM
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Michael Larson Michael Larson is offline
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Default Re: Where We Are, Where We're Heading (2009)

Quote:
Originally Posted by whandley View Post
I wish it were that simple. The housing industry over the past 10 years has been operate like a giant Ponzi Scheme.
It was all false wealth that people borrowed against like would would be ever increasing.

Speaking of Mr. Ponzi, that is exactly what S.S and Medicare have always has been using current workers taxed to pay for those who no longer work while our politicians kept assuring everyone that things were not as bad as some said.



He who knows nothing is closer to the truth than he whose mind is filled with falsehoods and errors - Thomas Jefferson - Founding Father

The democracy will cease to exist when you take away from those who are willing to work and give to those who would not. Thomas Jefferson

Never underestimate the difficulty of changing false beliefs by facts.
- Henry Rosovsky-Harvard

Michael Larson
Hudson, WI

Services provided in East MN and West WI
InspectraPro
and
Minnesota Home Inspector

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  #9  
Old 1/1/09, 7:43 PM
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Default Re: Where We Are, Where We're Heading (2009)

...and if no one is working, there will be no taxes to collect, but the expenses will keep on growing. Ha...just wait til we have Nationalized Health Care...we ain't seen nothing yet!



"It's not what you believe that matters...it matters what you believe!"
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  #10  
Old 1/1/09, 9:04 PM
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Joseph Burkeson, CMI Joseph Burkeson, CMI is online now
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Default Re: Where We Are, Where We're Heading (2009)

Quote:
Originally Posted by klott View Post
...and if no one is working, there will be no taxes to collect, but the expenses will keep on growing.
Correct, debt is a constant and assets rise & fall independent of their value.



"By three methods we may learn wisdom: First, by reflection, which is noblest; Second, by imitation, which is easiest; and third by experience, which is the bitterest." -Confucius


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  #11  
Old 1/2/09, 10:49 AM
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Joseph Burkeson, CMI Joseph Burkeson, CMI is online now
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Default Re: Where We Are, Where We're Heading (2009)

Here is another great article from one of the posters at Market Ticker. If your goal is trying to understand some of the market forces in play today without the usual spin then spending some time a the Market Ticker will be enlightening & educational.


Uh Oh..... Monetary Flat Spin



"By three methods we may learn wisdom: First, by reflection, which is noblest; Second, by imitation, which is easiest; and third by experience, which is the bitterest." -Confucius


Certified Master Inspector (2007)
Member, International Assoc of Certified Home Inspectors (InterNACHI)
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Square-One Inspection "Assurance begins here"
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