Deflation’s the Real War
Despite all that you hear and see in the headlines about rising oil and gold prices, we are about to experience the worst deflation in the history of the United States, or at least the 2nd worst after...
View ArticleRepeat – It needs to be said
The following is a copy of a post I made back in November 2005 (nearly 2 1/2 years ago). Pay close attention to what is supposed to happen next: from Interest Only – Creative Financing or Harbinger of...
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What to do? What to do?
I recently had a reader pose a question to me via email and I’d like to take some time from our normal programming to see what is on his mind Our friend, let’s call him Boomer for short, had this to...
View ArticleGoing down in flames
Thank god we have some sane representatives in Congress. I have a lot of money invested in the stock market, but I have a lot more invested in mine and my children’s future. See how the 228 voted...
View ArticleThe crash is in – Chuck is Out
Sorry that I have been out of pocket for the past week. Chuck has been in Mexico this week getting some much needed vacation time. Meanwhile, the world financial system is in meltdown. The worldwide...
View ArticleIf at first you don’t succeed, quit
Yahoo’s finance headlines always provide a good look at the panic of the last few weeks. Virtually buried in the “Oil at 3-year lows; gas below $2 in 23 states” was this hardly startling revelation:...
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One of these kids is not like the other
One of these kids is not the same. Platinum 5 year Silver 5 Year Palladium 5 Year Gold 5 Year What do you think? Is gold going to fall to meet it’s historical relationship to other metals, or will the...
View ArticleDeflation, what it means
Long-time readers will know that I made my deflation argument as a distinct possibility some time ago, and that the crashing housing market was both a symptom and cause of deflation. Within the last...
View ArticleWally’s right
Every once in a while, I find a comment on a blog that captures an important thought. This one comes’ from Wally on The Big Picture The systemic risk is that since credit = debt = money, we can pretend...
View ArticleFinancial Crisis and Magical Thinking
What is magical thinking? It is a detachment of causality from the source of an action. It is simply, to believe that if certain conditions are met, a natural outcome is to be expected. Magical...
View ArticleBill Poole – Contrarian in a Sea of Stupidity
While our government is busy running around wondering how much money should be given to whom, and how we can change the rules of engagement in business, Bill Poole, (yes, shameful, shameful) makes a...
View ArticleCrisis of Credit Introduction
This is a great lead-in to what the credit bubble is and how it happened. Delves deep and stays on target.
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Just when I issue a forecast…
It’s inevitable that once one issues a forecast, it is almost immediately disproved with current information: As part of my 2009 forecast, I saw California unemployment rising to 11.5% by year’s end....
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California – Taking the short bus
California recently took the steps to reduce government deficits by raising taxes: 1% on sale tax , and raising income taxes. It doesn’t seem that this worked out too well. From the information that...
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April was a Shocker!
CNN Money today gives us our money shot for the day while interviewing Realty Trac for insight into the April foreclosure numbers: Foreclosures in April exceeded even March’s blistering pace with a...
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Schwarzenegger to California: Day of Reckoning
I love it when a plan comes together – A-Team’s Hannibal Arnold Schwarzenegger has fired off his assessment of where California is today. In short, we’re screwed. Declaring that “California’s day of...
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Broken, broken, broken
California has staved off the day of reckoning for a few more months. The can has been kicked further down the road with everything from taking from municipalities to pushing out payroll days to the...
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Obvious Statement of the Day: Underwater Homeowners Drowned Themselves
It’s no surprise to most readers, but banks are finally figuring out that which was already extensively investigated and reported on by SoCal bubble bloggers; that the primary determinant of...
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Are We There Yet?
This post is being put out for those readers who are seeing the unfolding of 2009 and wonder if we are at a housing bottom. Indeed, volumes have increased dramatically, and one can hardly turn on the...
View ArticlePBS vs. Greenspan – The Warning
“We didn’t truly know the dangers of the market, because it was a dark market,” says Brooksley Born, the head of an obscure federal regulatory agency — the Commodity Futures Trading Commission [CFTC] —...
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War on Prudence Intensifies
Click here to view the embedded video. Much of the last 4-5 months has seen a veritable frenzy of activity in the housing market throughout Southern California and throughout the rest of the US. What...
View ArticleThe Coming Collapse of the Middle Class
Whether you like it or not, the truth is that the middle class has been squeezed over the past 30 years, as Elizabeth Warren of Harvard Law and the House Oversight Committee explains in the attached...
View ArticleWhitney: Consumers Still in Trouble: Worse, not better
Houston, we’ve got a disconnect. Housing to the moon!
View ArticleThe Power of Experience
One of the most powerful experiences that investment bubbles can teach us collectively is how conservative we should be when burned multiple times. Unfortunately, for many of those newly exiting...
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