When An Economy Crashes, Baby, There Are No Airbags!

March 19, 2007

Greenspan, the Wizard of Bubbleland [Sept 14, 2005]

Greenspan’s formula of reducing market regulation by substituting it with post-crisis intervention is merely buying borrowed extensions of the boom with amplified severity of the inevitable bust down the road. The Fed is increasingly reduced by this formula to an irrelevant role of explaining an anarchic economy rather than directing it towards a rational paradigm. It has adopted the role of a cleanup crew of otherwise avoidable financial debris rather than that of a preventive guardian of public financial health. […]

Don’t get caught in the housing bubble crash (part one) [Dec 29, 2005]

In 1998, I began loudly warning people about the approaching dot-com bust. I had analyzed the situation and knew the bubble was going to burst. There was no doubt in my mind, because I looked at the fundamentals of these internet companies’ finances… the internet startups that had stock prices in the billions of dollars but had sold no products, had no revenues and had no customers. You don’t have to be a genius to figure out that bubble was going to burst, and something very similar is happening today in the housing market. I’ll explain all this later.

Warning signs of the housing bubble crash (part two) [Jan 1, 2006]

But today, there are radical loan structures that are interest-only loans. You pay for five or 10 years, and you own nothing. You pay interest only. There are people who think they own their homes, paying interest only. They’re building zero equity. Some of these people are qualifying on 5 percent down. There are people qualifying for even less, but that’s the typical low qualification happening today. You can buy a $200,000 house for $10,000 in cash, and you pay no principal. You pay nothing but interest for five or 10 years, and it’s a variable rate interest, as well. This is a financial time bomb just ticking away.

Subprime Credit Crunch Could Trigger Collapse [Jul 26, 2006]

Some of you might have seen my new informational site, the Mortgage Lender Implode-O-Meter. But for those who haven’t, I started this site to coherently track a story that is otherwise only quietly developing on a smattering of disparate finance blogs and message boards, with little treatment in the mainstream media (MSM). That story is the collapse of mortgage lending finance, especially in the subprime sector.

Pop Goes the Bubble!
The Great Housing Crash of ’07
[Aug 30, 2006]

The housing bubble is a $10 trillion equity balloon that will explode sometime in 2007 when more than $1 trillion in no-interest, no down payment, adjustable-rate mortgages (ARMs) reset; setting the stage for massive home devaluation, foreclosures and unemployment. (“By some estimates housing activity has accounted for 40% of all the jobs created since 2001”. Times Online) July’s plunging sales are just the first sign of a major slowdown. The worst is yet to come.

Pessimistic stock guru goes with the short answer [Sept 25, 2006] [$, free abstract]

Hickey points out that housing sales have collapsed, prices are eroding, and a whole army of homeowners on adjustable-rate mortgages face sharp spikes in their monthly payments as their introductory periods expire.

The Secret Maneuverings of the Plunge Protection Team [Mar 17, 2007]

The Working Group on Financial Markets, also know as the Plunge Protection Team, was created by Ronald Reagan to prevent a repeat of the Wall Street meltdown of October 1987. Its members include the Secretary of the Treasury, the Chairman of the Federal Reserve, the Chairman of the SEC and the Chairman of the Commodity Futures Trading Commission. Recently, the team has been on high alert given the increased volatility of the markets and what Hank Paulson calls “the systemic risk posed by hedge funds and derivatives.”

Welcome to the United States of Foreclosure [Mar 18 2007]

The stock market is about to crash. The only question is whether it will quickly drop down the elevator shaft or follow the jerky flight-path of a man pushed down a stairwell. Either way, the outcome will be the same; stocks will nose-dive, the dollar will plummet, and the bruised US economy will be splattered on the canvas like George Foreman in Rumble in the Jungle.

The Subprime Scandal [Mar 19, 2007]

Why is the market so nervous? Mainly thanks to the latest bitter fruit of financial deregulation: the collapsing $1.3 trillion “subprime” mortgage business, which now accounts for one mortgage in three. Here is a textbook case of why financial institutions need to be regulated, to protect both consumers and the solvency of the larger economy.

–researched via reddit

Previously in this blog:
And Then Google’s Stock Finally Thank You Jesus Crashes And Takes The Entire Global Economy Down The Toilet, Thank You Science!
The Road to Great Depression 2.0

You MUST Go See This Illustration!

March 19, 2007

The origin of Intelligent Design

–linkswipe via reddit

Hoist That Skull And Crossbones!

March 19, 2007

How The MPAA Made Me A Pirate

I sit here in frustration knowing the legal copy of Casino Royale my mom bought will never be ripped, Digital Rights Management the cause. I sit here knowing the MPAA made me a pirate.


My mom bought the newly released James Bond movie Casino Royale. I liked the movie as well so I thought hey, why not rip it into iTunes and then sync it onto my iPod. But once again the MPAA has assured this will not happen in the form of Digital Rights Management.

Wait. I must channel the MPAA:

You and your Mom watched the DVD?

Did you each pay for it, like you would have had to if you each saw it in a movie theater?


You crooks!

You’re the ones destroying America!

End of channeling.

Previously in this blog:
Book Him, Danno
The P2P The Suits Fear Above All Else
Well If You’re THAT Stupid, You SHOULD Be Punished!
Except The CopyNazis
P2P Forever And Ever!
Reference: CopyNazi Detection
Cancel That Trip To Fantasy Island
You Can’t Take The Sky From Me
Fantasy Island
CopyNazis Filthier Than Ever
Because This Is The Future
Another Tyrant Not To Luv?
Sweet Dreams Are Made Of These
CopyNazis Enlist Zombies
CopyNazis Repelled

The Three Words “Christian” Fascists Never Utter

March 19, 2007

“I don’t know.”

Previously in this blog:
And Then There Were None

America Is Next On Its Hit List

March 19, 2007

How the Free Market Killed New Orleans

They announced that everyone should evacuate. Everyone was expected to devise their own way out of the disaster area by private means, just as the free market dictates, just like people do when disaster hits free-market Third World countries. It is a beautiful thing this free market in which every individual pursues his or her own personal interests and thereby effects an optimal outcome for the entire society. This is the way the invisible hand works its wonders. There would be none of the collectivistic regimented evacuation as occurred in Cuba.

When an especially powerful hurricane hit that island last year, the Castro government, abetted by neighborhood citizen committees and local Communist party cadres, evacuated 1.3 million people, more than 10 percent of the country’s population, with not a single life lost, a heartening feat that went largely unmentioned in the U.S. press.

The 1970s ushered in the Every Man For Himself Age.

We are now in The Go Fuck Yourself Millennium.

–linkswipe via reddit

Number Luvvvvv!!!

March 19, 2007

248-dimension maths puzzle solved

An international team of mathematicians has detailed a vast complex numerical “structure” which was invented more than a century ago.

Now put it in software so I can win the lottery.

Previously in this blog:
Number Luv: Pi Again
Number Luv: Pi
David Bamford Does The Math On The Number 23 Movie
Numbers. We All Love Numbers.
More Nvmb3r Stvff
Ooh, Myst3ry M4th!
Some Numb3r Luv

A Guy Could Get Killed Around Here

March 19, 2007

65 Murphy’s Laws of Combat

4. There is always a way, and it usually doesn’t work.

Ah, one of the rules of life itself!

–linskwipe via reddit

March 2007: Boycott The RIAA

March 19, 2007

RIAA Wins Worst Company In America 2007

The RIAA won The Consumerist’s “Worst Company In America 2007” reader poll.

We predicted an RIAA landlslide, but they only managed a 53.8% majority over Halliburton’s 46.2%

I haven’t written much about the boycott. Stuff coming (and I hate even typing that; pre-announcements make me procrastinate… death to deadlines!!)

Previously in this blog:
March 2007: Are You Remembering To Boycott RIAA Labels?
The RIAA Hates Music Buyers
For A Group Dealing With Audio, The RIAA Sure Is Deaf!
March 2007: Boycott The Fucking RIAA!
March 2007: RIAA Boycott Month — Prepare For It
March 2007: Boycott RIAA Labels!
Next Month, March 2007 = RIAA Boycott!
RIAA Racketeers Recruit Quisling ISPs
Reaction To Jobs Vs. DRM
RIAA: Suck
Reference: CopyNazi Detection
CopyNazis Filthier Than Ever

And Then There Were None

March 19, 2007

For the Christian Right, Gay-Hating Is Just the Start

As the Christian right works hard to make gays and lesbians second-class citizens, society needs to make a stand — or else the same tactics will soon be used against other “social deviants.”

Like writers.

–linkswipe via reddit

Previously in this blog:
The Microsoft Code?
R.I.P. John Inman
Reference: Celeb Gays
That Funny, That Nasty, That Charming Man
The Homo Fag Queer We All Owe

Bush: Short-Named, Short-Sighted

March 19, 2007

Bush the Perfunctory:

Four years, 3200+ dead, 24,000++ wounded, the fast track to a trillion dollars flushed down the shitter, the country begging for the exit strategy, and that’s all the speech we get?

Five minutes or less of “Fuck you, fuckers, we’re staying and I don’t give two sheep shits what anyone thinks. Oh, and Congress? Gimme the money, bitches.” He might as well have come out in his pajamas, grunted, “Talking points 3, 27, and 105,” and shuffled back to sleep, scratching his ass along the way. Then the reporters could have consulted their handy lists of talking points, downloadable to their PDAs, to see which lines they needed to repeat again and again.