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Originally Posted by loquitur
Host, it has nothing to do with being arrogant. I just find most of your "research" irrelevant. You have an axe to grind and you do "research" to support arguments you already have in your head. Most of it has zero to do with what the actual economy looks like. <h3>I read newspapers and practice law wtih real live business people and have a pretty good idea of what is going on, and it looks nothing like what you're posting.
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I don't come here to "win" arguments because there is nothing to win. This is a hobby. When it starts becoming work I'll stop posting because I have plenty of real work to do. So I'm not going to go through the Statistical Abstract of the US to "prove" what I'm saying, nor am I going to start larding my posts with long quotes from historical sources to "prove" a point that the posts don't prove. If you really think the country is run by a conspiracy of robber barons and it makes you feel better to think that, there's nothing I can say that will dissuade you because you're seriously invested in that thesis. I see from personal experience that it's not true, but you're perfectly free to believe otherwise.
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Originally Posted by host
http://www.tfproject.org/tfp/showpos...45&postcount=1
My observations are that is possible that Bear Stearns had some large holders of NEW that needed to unload their shares before the impending news, hence, the "upgrade".....
.....If you believe, as I do, that the mortgage industry, home construction industry, and the residential realty industry, and the speculative financial bubble that grew them since 2001, are responsible for most of the US job "growth", and that MEW (mortgage equity extraction), drive by bubble prices for real estate, driven by lax lending standards, and "interest only", no down payment loans, was the source of the money that drove the spending spree of the past 5 years in the US, since wages remained flat, on average, doesn't it seem likely that "the economy" will be the 2008 presidential campaign issue, as early as late this spring?
I'd also like to discuss what to do about it, both on a personal finance level, and on a macro level....
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loquitur, I posted the opinions above on March 3, 2007. What were you and your "real live business people" paying attention to, and predicting, 55 weeks ago?
What have all the "real live business people" on Wall Street and at C'wide's HQ in Simi, CA, been thinking and doing to get themselves in such dire straits as to whether they remain solvent? The answer is....they didn't handle "things", did they? They botched things up to the point that they have become "wards of the state"?
You've done no job of credibly discussing the points I have made....it's now degraded to what amounts to a personal attack.....the arrogance evident in your last response speaks volumes.
You are an attorney with no passion for argument. Why did you even bother to make your last post?