Thursday, May 31, 2007

Repost: Raising the Dead

From Friday, February 03, 2006 prior to anything Casey I scribbled:

Thumbing through my copy of "The Necronomicon" (at midnight by the light of a black flame), it warns that the consequences of bringing the housing market back from the dead will be far more dangerous than letting it rot in the stygian depths to which it has fallen. The extent of those depths in the dark days ahead will not be known until the spectre of Cthulu awakens and (re)posses those things most dear to the doomed minions souls. Namely the holy speed boat, the most reverent Harley-Davidson, those objects of all desire the SUV, RV and ATV. Only then when all hope is lost and the scavengers are finished picking the bodies on the bloody battlefield clean of all that is valuable will the lamentations of the children, resigned to public schools and community college be heard. Only then as the wives cry out to the darkness, "Maui, Cancun wherefor art thou" will the true nature of the beast variously known to mere humans as the House ATM, the great equity withdrawl, the very HELOC himself so powerful that he is CAPITALIZED be revealed as a vampire sucking the lifeblood of guilty and innocent alike. Listen now, quiet, in the distance. The sound, the smell, the desperation. Those who thought an easy death, bankruptcy itself will be denied. No one gets off that easy. The laws of the gods of light and dark are no match for the US courts system. Ameriquest will eat their livers every dawn and peck out their eyes every sunset only to keep them barely alive to feed again on the morrow. And at night, where will they sleep? Not in their own beds, that's for sure.

22 comments:

GameOver said...

FF&M!

FMW said...

Murstness ness!!!!!!!

GameOver said...

Wow, that felt GOOD!

I may have to quit my lurking ways...

FlyingMonkeyWarrior said...

Wheeeeee, I am off till tomorrow from my lozer w2 job, and tomorrow is Friday, wear jeans to work day!!!
Sorry, I forgot myself for a moment.
te he
Oh, and that murst was really me, just didn't sign in.

Anonymous said...

How many days til Casey finds a W2 Loooooser job that we can call in and ask him how he liked thumbing his nose up at the Haters (the people who tried to help him).

I can't wait.

Huck Finn said...

I've had more fun today with this new development than I thought I would.

I probably added a thousand clicks to your site since noon.

CHJTS said...

http://www.talkshoe.com/talkshoe/web/talkCast.jsp?masterId=34478&cmd=tc


talkcast today at 5pm PST

Guess I will have to post this on every new subject since robdawg wont give me any love

Peripheral Visionary said...

Economic growth down to just 0.6% in the first quarter. That's 0.6% away from a certain word beginning with "R", which according to one commentator has a one in three chance of showing up before the end of the year. But don't worry, the housing problem is just contained to sub-prime. Keep buying stuff, and keep buying those stocks.

Anonymous said...

What if Casey comes back saying "back by popular demand - You LOVE me, you REALLY LOVE ME! and btw, I dumped my wife."

Sprezzatura said...

Bonus points for the Necronomicon allusion.

Anonymous said...

@CHJTS:

Please ask the callers who were sincerely trying to help Casey out, how they liked Casey thumbing his nose up at them?

This is per Duanes conversations with Casey.

To know that here you are, trying to help someone, and that someone is thumbing his nose at you and giving you Hell - that has to be a wonderful question.

Soem Dood said...

Hope a tiny cross-post is okay, I posted two dead threads below and did not realize: Soem Dood said...

Guys:

OMG, the Casey-stalgia is already bringing tears to my eyes!

Just picture these dialog snippets below as spoken-word-poetry interspersed with Green Day's "Time of our lives", as pictures from his Flicker account form a slideshow background:


"Turning point? The Tahoe trip. That was obviously the moment that Galina's forbearance snapped."
...

"I've said "The Moment" was when he put his own brother on infinite hold "
...

"...his decision to rationalize sitting on his ass this week, on the grounds that he made two grand last week"

...

"...that's easy. He jumped the shark with the first beg-a-thon. It was all downhill from there.)..."


Casey, casey, casey... we hardly knew ye...

FlyingMonkeyWarrior said...

And at night, where will they sleep? Not in their own beds, that's for sure.
--------------
In their car? In their sister in law's guest bed?

Anonymous said...

We need the GRAND FINALE

That's when Casey is really REALLY down, and you hear the Knock Knock at the door.

The Feds take Casey away for some sweet Jail time.

CHJTS said...

okay i had to create a new talkcast since I just looked at it and it is in EDT not PST


here is the new link


http://www.talkshoe.com/talkshoe/web/talkCast.jsp?masterId=34513

I have already updated it on caseypedia.com.


Rob give me some free advertising with a new post

Rob Dawg said...

Visionary,
That 0.6% could easy be subsequently revised to 0.0% as they are notorious at not catching trend reversals. Roubini actually said he may have been to rosy! Remember the "R" call is AFTER 2 quarters of negatives. That means we could already be a full quarter in and not have the word used until December.

Anonymous said...

I thought Recesions were marked after 3 negative quarters?

Anyways, I see Recesion coming right after the new President takes office - it's like clock work.

Huck Finn said...

I don't think anyone has successfully predicted a recession BEFORE it happened - the start of recessions is pinpointed retroactively.

They can suggest it all they want, but they're not going to admit we're in one until we're two or three quarters into it.

It's like a weather forecast that predicts a 30% chance of rain - the conditions are ripe, but it's not probable. Hours later, when the heavens open up and you flip over to The Weather Channel, your local forecast will call for a 100% chance of rain.

I think a lot of factors are indicating a very high chance of recession, but no one wants to be the boogeyman. Greenspan says 1 in 3, but I suspect he believes the chance is much higher.

But what do I know?

Anonymous said...

Reporting from the Inland Empire;

Numerous streets with a dusty FOR SALE sign on every other house.

3 years ago they didn't have time to put up a sign because the bidding wars started the second the house went on the market.

It's been a while since I saw someone rushing to buy a 1200sq foot manufactured home in Hemet for 650k or even 500k for a house that sold for 90k 4 years ago.

100s of homes in my neighborhood either in foreclosure or pre-foreclosure.

I don't see so many Denalis, Navigators, et al sporting 24s cruising around town.

Domestic disputes in the hood are a daily event now. Last week I actually heard a woman yelling to the cops, "I just found out I have 90 thousand in credit card debt" after the cops showed up because she was making a scene outside of a home.

The boat dealers look like ghostowns now.

I still see ads for "1%" interest only loans or the even more ridiculous, "equity shares".

Rob Dawg said...

Anon, I've blogged about that many times. Ti's all true.

Dolph said...

Something I've mentioned many times to friends...the areas that will be hardest hit will be the Riversides, Coronas, Perris', Bakersfields. All areas that have no BUSINESS being priced higher than their historical price ranges.

I live in the OC. I expect my place to devalue 10% or so in the next 2 years. Nothing I can do about it since I own it to live in it. If I ever sell, I will more than likely break even (lose long term when adding inflation). But I believe that L.A. and places like it will weather this storm better than the exurban areas. But I do see homes in places like Buena Park, La Habra, Stanton, Los Alamitos, La Palma, Garden Grove, Westminster, West Anaheim and Cypress (aka North OC) that could stand to see some corrections. I see 2 BR/1 Bath shoeboxes built in the 1950s selling for 600K while some guy is trying to sell his 3 BR/2 bath place for about the same amount of money.

Anonymous said...

In the IE, I think Corona will probably suffer the least of the rest of the areas. That's not to say that home prices won't continue to drop. They will, I expect, quite a bit. Just not with the severity of some other areas.

I think much of the extreme carnage (>-50%) is going to be areas like most of S.B county, most of east Riverside county. Places like Banning, Perris/Moreno Valley, Hemet, Temecula and other dustbowls that don't have median incomes to support RE prices.

Yeah north OC is ridiculous, but so is all of southern California, and everywhere else. It'll be interesting to see what happens over the next year when the loan reset wave hits and see where the USD goes.