What is the Media trying to achieve by always telling us how bad the housing market is all day long?

[bigchiroal87]

They are telling you that the housing bubble burst (finally) People were paying a quarter-million for condos, and a half- million for McMansions in developments where you can't throw a dead cat out of the window without hitting the side of your neighbor's house. These properties did not (and certainly do not now) have this actual value This was inflation based on speculation, just like the Dutch Tulip craze and the Dot-Com bubble.

To make matters worse, a number of brokers selling the mortgages for these hyper-inflated properties had no stake in the loans they were making, and when these loans were rolled into very complex bond-like instruments, a lot of people bought into very high-risk loans (THINKING THEY WERE SAFE INVESTMENTS) and are now losing their shirts. This collapsing housing bubble is now taking down Wall Street investment firms which survived the depression. and is sending ripples around the world. All of this at a time when the U.S. dollar is VERY weak.

We have not had a gold-backed dollar since the depression. We print more money, and we (the U.S.) sell BONDS on the international market to cover the DEBT we create. The collapsing housing bubble and the sub-prime mortgage debacle are only serving to further weaken the U.S. dollar and the U.S. as time goes on, (by spreading bad U.S. paper around the world) Currently, "Red" China holds 1.7 Trillion Dollars of U.S. debt that backs the U.S. Dollar. If they ever decide to sell those markers off cheep, they could decimate the U.S. Economy over night, and win ANY war with the U.S. without firing a shot (Like when they decide to walk into Tawian).

All of this is happening as oil (currently based in U.S. dollars) is now past $100 dollars US/barrel. The fact that oil is priced in U.S. Dollars has always lent great strength to the U.S. Dollar. Since the Dollar is now very weak (because of the collapsing housing bubble and the sub-prime mortgage debacle) many oil producing countries (a number of which happen to be predominately Muslim) are now calling for oil to be priced in Euros (One of the last things that Saddam Hussein was offically asking for, just before the U.S. invaded IRAQ), a move which would completely destroy the now petro-based U.S. Dollar (The Coup De Gras, if you will)

The bad housing market is only the tip of the iceburg, and the media is not doing half of its job, if people like you have not got the message that we (all of us here in the U.S.) ARE IN DEEP DOO-DOO. It may well be a government backed scam, but my concern is exactly which government are we talking about. As only one possibility (out of many), please remember that "Red" China thinks in terms of decades and centuries, and not in terms of 4 and 8 years! Also, please remember that "Red" China's leash comes off once the current Olympics are over!

Ach du lieber Augustin U.S. goose is cooked !!!! Is what the media is trying to tell you! Let's get out of the oven, and deal with the fires we have here at home!

And, by the way, I am an old Hawk and not a bleeing heart liberal. I firmly beleive that we should be in foreign lands (like on the boarder of Afghanistan and Pakistan) killing them what needs killing. (Exactly what did happen to the search for Osama Bin Laden ?) But I don't think that we should be wasting money (Half-Trillion so far) occupying a "country" (created by the Brits in the wake of WW1) that wants to consume itself. I think that for a Half-Trillion, we could have gotten a lot more bang for the buck, even if we had to contract out and ask the Mossad (or others of their professional expertise) to do the "wet-work" for us, cutting the head off of the snakes. I firmly beleive that the only thing we are currently doing in Iraq is cutting the feet off of centipeds, and further destabilizing the region!

The bottom line to all of this is that the current Bush adminstration took the U.S. into Iraq to assure 50 years of cheep Iraq oil for the U.S. (Not going to happen) and supporting the strength of the U.S. dollar by keeping a major oil producing country from asking for payment in Euros (only forstalled the inevitable). As a result of these actions, the Dollar is tilting on the edge of collapse, oil is passing $110 dollars US/barrel, and the U.S. is out a Half-Trillion it could have better used to repair strategic infrastructure - like leaking 70 year-old water mains (across the U.S. most of them are at least this old, if not older), 50 year old Interstate bridges on the verge of collapse, and the re-building of New Orleans (a strategically indespensiable city in an impossible location).

The Media is not telling you half the story. That's the Scam! Wake-up! Start drinking later in the day, and read a bit first.

And since when is social drinking a government backed scam? Where I was born and raised (New Orleans, Louisiana, in Southeast Louisiana) our social drinking (2 - 3 drinks/day - mainly with meals and NOT a whole lot more - the point IS MODERATION you sot) is considered alcoholism by the established medical community, but it does seem to prolong life for the French and Mediterranean peoples, as it does for us (it's the fried food you have to watch out for!).