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January 4, 2011
FEAR NOT! The US Isn't Screwed, Says Mark Zandi
As long as we make those adjustments within the next few years, Zandi says, we'll work our way back to a sustainable position in 5-7 years.
Does anyone really think we'll make those adjustments within the next few years?
Let's go back to a time right before the greatest recession since the Great Depression to hear more words of wisdom.
October 25, 2007
Future Bright, But A Ways Off
On the down side, this comes from a guy who bought a house in Vero Beach, Fla., in the last year, thinking that he was buying at or near the bottom of the market. Oops.
"I caught the falling knife," Zandi said of his recent home purchase.
He caught the falling knife. What more is there to say?
ICE: Mortgage Delinquency Rate Increased Year-over-year in October
-
From ICE: ICE First Look at Mortgage Performance: Serious delinquencies hit
17-month high while foreclosure activity remains historically muted
• At 3.45% ...
3 hours ago
6 comments:
Mark,
Zandi is a mainstream eCONomist - aka a shill that believes in eCONomic fiction. The guy actually believes his own stupidity. He gave a speech during the height of the housing bubble claiming CA housing prices would keep rising. No joke!
Apparently, Buffett believes in Zandi's stupidity too. In 2005 or 2006, a company BRKA has a big stake in, Moodys (MCO), purchased Zandi's eCONomic forecasting company (eCONomy.com IIRC) for ~ $27 million.
$27 million, wtf! A $1 set of tarot cards would have been a better investment.
mab,
A $1 set of tarot cards would have been a better investment.
$1? WTF!!
There are many different online websites that offer FREE tarot card readings, FREE numerology readings, FREE astrological predictions, and FREE option trading seminars.
Embrace the deflation!
And don't forget to backtest your fortune telling strategies over a suitably long time frame like many mainstream economists have done. 10 years ought to do it, lol. ;)
There are many different online websites that offer FREE tarot card readings
FREE??? Holy cow! Embrace the margin collapse!
Stag,
I'm assuming the tarot card companies saw the margin collapse coming and were fully hedged. They are in the business of "seeing" the future.
Tarot card "seeing" isn't to be CONfused with the way Goldman was able to "see" that the fraudulent CDOs they sold would crash.
mab,
FREE??? Holy cow! Embrace the margin collapse!
Picture the ad campaign.
Buy one tarot card reading at its normally free price and get an additional tarot card reading for free!
They can advertise that on their own website rather than pay some other website. I'm picturing some sort of pop-up ad. That cuts down on their costs, lol.
mab,
Tarot card "seeing" isn't to be CONfused with the way Goldman was able to "see" that the fraudulent CDOs they sold would crash.
Heck no. Tarot card reading is all about seeing another's fortune. Goldman is all about obtaining another's fortune. That's two entirely different mindsets.
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