LMAO...how late do those ATMs stay open in Shanghai? I guess until the government has to step in with the reserves and save the country from a recession when the bubble bursts...they're building up an army alright, of creditors and bankruptcy experts. Crazy man, those people are just crazy with their credit waging on the stock market. At least bet it on cockfights or something.
many people say that prices will go down (by as much as 20%) - you know who I am talking about . These people also say that US is on the brink of a catastrophe, dollar will go to par with Yen, Yellowstone is going to explode and if not this then we will definitely all die on bird flu, etc. With respect to housing in general I am aware that every fast rally needs to take a pause - but there were many reason we went up that fast and majority of these reasons are still in place (productivity, money growth, wealth growth, inflation, globalization and lack of good land to name few). Foreclosures: seriously how many are we going to have? Especially considering the market size. Do not forget most people are vastly richer today than they were 7 years ago! I agree though that it still puts some small pressure on inventory, i.e. starts, i.e. GDP...everybody is aware of that. Cheers
I seriously can't even respond to you until you at least read something on the subject. It's killing me trying to understand how you guys think the markets will be fine. A few trillion in loans(of a very low quality) have been written in the last two years on inflated-priced homes...many of those loans were bought by Wall St. Probably 30-40% of the people that bought those loans couldn't afford them and they will have their rates reset. If you don't get how many foreclosures that will cause I can't help you because you, Forrest Gump, got one of those chocolates that rots your brain.
I do not know what you try to tell me (or prove). Something like: "you have a different opinion therefore I am smarter". You sound like a Wall St expert - have you ever worked there? let's say for one of top 5 shops on CDO/MBS/ARM desk in a senior position? I seriously doubt it kid. EOF
Who said I was trying to prove or tell anything...I just seriously doubt you've looked at any of the data that is publicly available because you would probably not make such dense comments about there being/not being a problem...instead you just make up bullshit with nothing to back it up and expect that a simple "ASSET INFLATION" will pass as sensible...that's a load of shit. The last paragraph hardly makes any sense and no I have never worked for Wall Street...if you view that as a negative great, but I thinks it's a pretty big plus!
It is another proof of "what American did the Chinese can do it".1999-2000 a "fucking gambling insanity"!