Apparently the housing market did it. GDP 1.2% for the first quarter, murdered by the "no spillover" housing bubble implosion. Nothing to see here, move along. In fact if it weren't for consumer spending +2.6% this could have been a lot worse. In fact given the lag in housing data and the immediacy of consumer spending and the recent trends in revisions I suspect things are a lot worse. If consumer spending declines like MEW has been showing and the more recent housing data becomes the latest housing data then negative GDP growth seems a near thing very soon.
Hey. You want happy talk? Nigel is handing out sugar cookies and kool-aid. Go there. Me, I'll hold off on the celebration until it is warranted.
68 comments:
FIRST!! MURST!!
first murst wurst
Happy Friday to Me!!
I wonder who is dumber - Nigel, or people who think that being the first to post is something cool?
There is no Agent #777 in the "Roll Call of Haterz™." There's like 11 of us and we multipost right?
aaack!!
Caught napping again!
thhppttt!
S_t_C
@Anon 9:10
The obvious answer is Nigel, but you leave out a more pressing question...
who is dumber - Nigel, or people who think that posting as anonymous makes them relevant?
Anonymous can be relevant if they have something important to say. Otherwise, you are just trolling, for example: 9:10 AM, Anonymous
Rob, where is the roll? Do you mean on Steph J's blog? Cause I did sign there, although with kinda a disclaimer that "Hater is such a strong word"
Agent#777 has violated EN's TOS by not registering as a Hater. Unless verification of membership is established, his FIRST will be declared null and void.....you big looser.
I'll bet he has a job and everything.
mmmmm
Cookies.
Kool-aid.
But my post-lunch snack aside, the market is in absolute denial about everything and anything. All the glorious earnings numbers are pre-sub-prime implosion, when the money was flowing freely and HELOCs were being tapped to pay for big consumption lifestyles. But that spigot's getting turned off, and it's catching up to the GDP, and it will catch up to Wall Street sooner or later.
Nigel sez: "Casey is not dead, suicidal or incarcerated. He's been busy in the real world, but expects to post again soon."
Casey could not find the real world if somebody have him a map......
::A voice suddenly emits from some unseen speaker, tinny and bleak, almost Orwellian::
All Haterz™ should have one comment identifying themsleves in the post marked "For the Original Kevin" at Stephanie J's Blog.
Haterz™ who have not identified themselves must do so immediately, or they will be denied food and recreation rations for the rest of the month.
(BTW; we're at 172)
What would we do if we didn't have Nigel reporting Casey's daily minutia?
Flailing Floorward has the quote of the day from prev topic:
This must be a delicious time to be a bubble blogger, having been proven completely right and watching cocky fliptards like Jeff hem and haw and blame the banks for encouraging them to lie on their loans, all the while bleeding sweet cash money from their buttholes after being raped by the gurus/realtors/builders/lenders/brokers.
For someone who holds Casey at "arm's length", he suuuuure knows a lot about Snowflake's "business".......hmmmm. Is his cryptic post an attempt at trolling for comments/attention?
Muncey goes on the block in 2 hours. In 2 hours it will all be over for Casey. All fucking over. The END.
Meawhile at the SDCIA board a poster asks Nigel
"Nigel,
How many loans did you close last quarter, and of those hwo many made at least a 20% down payment?
How many deals did you lose because of tightening standards?"
So far just the sound of *crickets* from Nigey poo
Please stop posting at the discount leather jacket site.
I'm still wondering how Swaby has a house but no record of a house in the county.
Anyway, we aren't gonna talk about macroeconomics are we?
I wish, Dawg, you'd stop with all the negative waves, man....
Woof, Woof!™
"Muncey goes on the block in 2 hours. In 2 hours it will all be over for Casey. All fucking over. The END."
Nope our little snowflake has tons of fun ahead. Oh it will take a while but 1099's, judgements from CC cards and lenders, balloons on promissory notes, cash call all await him, even if he can BK out of the unsecured debt its not the end.
Anyone who hasn't gone to Stephanie Jj's blog has to go over and read the trainwreck post.
Its Great
Nigel is full of shit. He hasn't heard from Casey. Casey cut him off like everyone else.
Nigel just wants us to think he has the inside line on Casey. Probably in hopes of us visiting his dead blog.
The END.
What LOL said. No, this isn't the end, much as the many specu-vestors out there wish it were. All that debt isn't going to vanish without a trace, even with bankruptcy. There will be judgements, and repossessions, and charges of fraud that will keep the debt from being wiped clean. The banks and other lenders were willing to let a certain amount of debt be written off while times were good, but now that delinquency rates are causing them headaches, that attitude is likely to change. And collections agencies will be coming into their own, and I do not envy anyone who is at the receiving end of their attentions. And, of course, there will be the tax authorities, who don't simply go away, and who will be eyeing future earnings for garnishment.
No, it's not the end, not by a long shot.
"I'm still wondering how Swaby has a house but no record of a house in the county."
He's a renter. Mommy had to co-sign for him.
Watch it hater from slc, you are going to make Nigey Poo pull out his newly implanted pubes....
Trainwreck Post? You sure that's my blog? Perhaps Aspeth's or Akubi's?
"As I kept reading his story, I realized he's very intelligent and pretty shrewd about reaching his goal of avoiding foreclosure," Swaby added."
@eleventh hour...
LOLLLL!!!
After much detective work, I was able to contact Snowflake via phone. Asking him how things were going, he said....:
Casey on the phone
Anyone ever find out what this is about
http://elevatetech.com/?
::A voice suddenly emits from some unseen speaker, tinny and bleak, almost Orwellian::
...Suddenly all the Haterzs' bowels turn to water...
Casey probably hasn't woke up yet this morning.
"I'm still wondering how Swaby has a house but no record of a house in the county."
Trust. Or it's in the wifes name/maiden name/family trust.
Scott's post in your Hater survey is the trainwreck post I was refering to
Casey agreed with Suze that he could make at least 2x $3000. That's where is is. Duh!
@Lurker
OOOooh... This post.
On LA Times blog, a timely link from Nigel Swaby to DHC. Not the award winning blog as I would have suspected.
By the time I get from lunch, the Muncy property will have gone back to the bank. Property-wise, it'll all be foreclosed on for Casey. But like LOL said, the financial fun is just beginning.
Oh yeah...
"As I kept reading his story, I realized he's very intelligent and pretty shrewd about reaching his goal of avoiding foreclosure," Swaby added."
Fantastic post Stephanie J. I'm still laughing.
please stop with teh Nigel quote... It's killing me!!
LOL LOL LOL
Oddball @ 10:01
You deserve a cookie!
Negative waves... that's from one of my all-time favourite army flicks... Sutherland was hilarious.
The Trainwreck post is an instant classic!!!
Rob Dawg, you should know by now, we're haterz and we'll talk about whatever we want, no matter what you post--just ask Nigey or Casey. :)
I admire your restraint and you are definitely living up to your end of the pact with the nun. But it's FFD...Final Foreclosure Day! Fucked, Fucked, Done!
As we close the first book in the trilogy, the next begins: www.iamfacingprosecution.com
Yes, Scott is my new hero.
Scott is a comedy writer for Haterz TV!
The final foreclosure should be a done deal now. Do we have a man on the scene to report on the festivities?
@ Dawg & co.,
I would be checking frequently the new filings for CH 7 in Placer & Sacramento County starting on Monday. All of Snowflakes's properties will be gone and he will most likely try to discharge the remaining unsecured debts. My guess is he is silent because he does not want anything to screw up his filing or any of the haterz to be aware of it prior to the first creditors meeting.
Grant you, it will be useless as there are too many people that have openly stated they have or will be providing the BK trustee with the lowdown on Snowflake's activities.
That train wreck post was just brilliant. My cow-orkers are looking at me all funny.
"As I kept reading his story, I realized he's very intelligent and pretty shrewd about reaching his goal of avoiding foreclosure," Swaby added."
Casey has his phone number listed at www.caseyserin.com, assuming its still valid. Has anyone tried simply calling him to ask how the foreclosure went today? Does he answer his phone anymore?
After today, is it really over? I mean he has one house left - the wrap, that's he's technically still on the hook for, and isn't something wrong with it? Couldn't it still conceivably be foreclosed, adding yet another aggreved party to the mix? (I almost have a hard time feeling sorry for the people who bought it from him via wrap - they should have seen how much trouble he was and stayed far, far away).
In short... isn't it still possible for things to get worse?
How does one google query somebody's logs? Anybody know? I have never heard of this technique but apparently Nigel likes to do it.
the auction dose not start until noon Pacific time. It has not taken place yet.
This bubble could take some time pop. I was looking at Jeff (14 house in 14 weeks) for the first time this week. Until now I figured the flippers where all dead, but low and behold they are still out there borrowing more money to keep afloat until the market comes roaring back like we all know it will in May.
LOL, May of 2009 maybe. I guess these flippers think the NAR is all knowing and this turd of a market is going to turn around in Q2. The sad fact for the flippers is that it will turn around as soon as all their flips get foreclosed on and prices drop radically. But hey you flippers must be getting real hungry living on credit, Kool-aid might be a nice change. Drink up and buy a copy of Casey’s book on how to make money on foreclosures as soon as he writes it that is and gets a publisher which will be one day after hell freezes over.
@The Dude and Dawg
Agent #777 said...
Hater is such a strong word...
Let's just say that IAFF and EN have brought me many chuckles over the last few months.
April 25, 2007 7:32 PM
FIRSTness and MURSTness reaffirmed!!
Thanks, Steph - thought no one would ever get it!
Now, I will go back to drinking wine and eating cheese, and catching some rays, you know...
Woof, Woof!™ (that was my other dog imitation...)
It's shortly before noon on a sunny, warm California day.
TICK
TICK
TICK
The forclosure clock is counting down.....
Agent #777 said...Hater is such a strong word...
Aha! We now know Agent#777 is a Snowflake sympathizer..
Trustee sale/auction should be over or close to over by now. Not too many houses on the block on the steps of the Stanislaus County Courthouse today.
@The Dude
C'mon man, you gotta be kidding. I had no sympathy for him at all, aside from a possible mental illness causing his delusions of rationality. I am the anti-Casey - I have had a w-2 job since I was 15 YO, and many times 2 or 3 of them. I had a house until Sept 06, which I then sold and placed the equity proceeds in mainly resource mining companies. I hope to never have a debt again, aside from the monthly credit charges which we pay off every month.
I could sympathize with buying a house or two in one's own home town and loosing [TM], or perhaps if a friend or relative tipped you (or "birddogged" [TM]) on a house near them, OK. But buying houses all over the country in places that you are not familiar with is just plain LUNACY!
I can't empathize with him or his lenders in any manner. The only one in this whole story who deserves ANY empathy is Yuliya and her husband, who were only trying to assist family (or maybe me, cause I don't know how to do those cool little TMs like everyone else - I guess that is the sign of a true HATERZ). Even so, if anyone in my family had done what Casey did, they would be disowned before they could ever play that card!!
I hope this post sufficiently clears that up! :)
Scott's post sums up the enigma of Casey Serin perfectly.
I wonder if Casey has anymore debacle juice left for the post-season wrapup.
Okay, I'm going to step back from my snarky post at 11:07 and ask, what macro econ indicator are we seeing by the level of blogging activity today?
This is the lightest work day I've had in two months, so I'm not the best judge of activity at this time of day, but there seems to be a whole lotta hatin' going on, and not very much work.
Hey! Sumbody can help #777 and me with the magic "TM" code!
And how you do the line through with the "fixed that for ya"!
hmmmm.™
OK #777
We haven't gotten a quick response on that yet.
Lessee here.
Casey sucks™.
OK. That sorta worked.
Had to use my number pad (no, don't fucking ask me why, it was my first shot.)
Press Alt and hold, press shift and hold, type in 0153 and then release. Should be™.
NONONONONO.
You can thank me later.
Now, if anybody could tell me how you do the "line through" I would really appreciate it.
Cuz I'm lazy.
Thx
I hate it when people give half-assed instructions, and I just did.
We'll try this again.
SIMULTANEOUSLY (geeze, that's a long word, and no, I'm not going to look it up)
press alt-shift and on number pad enter 0153 then release.
Should look like this™.
Your mileage may differ.
The Masked Marauder™.
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