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View Diary: Surprise! Cheney-Bush-Rumsfeld lied us into Iraq (157 comments)

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  •  Yeah, it was really weird... (4+ / 0-)
    Recommended by:
    3goldens, PsychoSavannah, TomP, maryabein

    I was very odd, because channels like CNN, etc. were saying things that clearly made no sense and they were hyping the crap out of it and just plainly failing to connect any dots. My sense was, if I'm just some guy sitting at home and I can figure out that this is a bunch of lies, then how can it be that NO ONE in the MSM is reasonably questioning this?

    That's when my whole view of how the country and politics and the media and everything changed, and the things is, its still only gotten WORSE since then!

    The whole housing bubble is another case in point. Even today I still hear on NPR and other stations people talking about how it was unpredictable, NONSENSE!

    I lived in South Florida in 2004-2005 at the peak of the bubble and I got together weekly with friends and we all talked about how it was an obvious bubble. The things we looked at were quite simple: 1) Mortgage to Rent ratios. It was clear from that that mortgages were way, way overpriced and had outpaced any historical measure of rents to mortgages. 2) Even more obvious, mortgage to income ratios. Again, it was obvious that people couldn't afford these houses. 3) The growth of new home and condo starts vs population growth. Since home starts were growing faster than the population, and incomes were actually going down for 90% of the population, it was obvious that this was a bubble. 4) The types of mortgages being offered. I went to buy a home and decided not to, it was obvious that they were over priced. We knew it was all interest only type loans going on. It was absurd.

    We talked numerous times about how the prices were just inflating based on the free credit, and this was like 1-2 years before the bubble burst, it was so obvious. And still the MSM just says it was unpredictable, and lets Wall Street bankers off the hook for saying "We didn't know". Its absurd.

    It's okay, I bought gold in 2002 right before the war...

    •  I remember in spring 2005 (0+ / 0-)

      talking to a realtor about how pretty soon banks were gonna be in the real estate biz, 'cause they were gonna foreclose on lots of houses.

      Let tyrants fear.-Queen Elizabeth I

      by Virginia mom on Thu Sep 23, 2010 at 03:15:28 PM PDT

      [ Parent ]

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