All the wars in the world.
- Mel Gibson
Quote:
Originally Posted by Wide-Open
Hoogbegaafdheid
|
Damn, now Bro WO is stealing my best material.
Quote:
Originally Posted by Nobar King
Can anyone say, "Subprime mortgage meltdown?" I know SOMEONE is making money on this whole mess.
|
I made money on it, not as much as I would have liked, though. It wasn't that hard to predict the housing bubble would collapse. As soon as you hear that mortgage lenders are giving loans higher than appraisal values, you know housing prices are going to collapse. Saw it in '98, saw it in '07, and will probably see it again in '16. The other sign is when more than half of the month-by-month office suites in Las Vegas, Los Angeles, or Miami are occupied by mortgage brokers and real estate agents. The tough part was timing (it's a bit like the end of days prophecies--what's a millenium or two among friends?).
We'll know when the recession has ended when guests on CNBC stop saying that the worst is behind us and it's smart to buy mortgage-backed securities or financial stocks at "bargain basement prices."
Just wait until the Chinese stock markets crash later this year, that's when the real fun will begin. And yes, that will be the joos' fault, too.