Irvine Housing Blog

Of course the little guys will get screwed, that’s how the game is set up.  However nobody will get screwed more than those who were responsible.

PR is starting to sound like mark hanson ( that is pretty good company) on the cram downs. If the crisis and follow on response has taught us anything it is that the government will go to extraordinary lengths to reverse market forces, and wields power.

Planet Reality has acknowledged many times that he/she doesn’t own a home in Irvine.  So is Planet Reality a renter? 

You have way too much faith in the Fed.  From the last two decades they have proven to be an absolute abysmal FAILURE.  Sooner or later all this stupidity will catch up with them…and I think it will be sooner.

On another topic, I have no desire to purchase in Irvine for many reasons.  However, I have noticed that many houses in Huntington Beach (the area that I follow) are seeing steep discounts.  What was selling for high 6XX and low 7XX K at the peak are now being advertised with a number that starts with 4.  Keep on dropping baby!

“From the last two decades they have proven to be an absolute abysmal FAILURE.”

That all depends on what the Fed’s goal was.

What do you think the Fed’s purpose is?

One of the Feds major goals, though not published, is to produce inflation disguised as real growth.  The Fed has been pretty sucessful at that.

Every time I hear an inflation number reported without food or energy cost I have to laugh.  Only the two most important expenses, excluding housing and education which also have not been included in the CPI for the past 20 years.

Inflation numbers that don’t have food and energy? No seriously, are they for real?

Awgee, I see the Fed’s purpose as making the tough (often unpopular) economic decisions that will keep our country financially healthy.  These decisions should be completely devoid of politics and not catering to banks, Wall St., corporate America.  If economy needs stimulation or if it needs to be cooled, they can act with interest rate adjustments.  Additionally, their job is to spot bubbles of any type and hopefully take the air out of them…which will be far less painful than having them run their course.

We have seen the last two idiots have been nothing but a bunch lap dogs for politicans and the crony Wall St. bankers.  Massive bubbles have formed on their watch and wreaked havoc with the world economy.  Their interest rate policy is reckless, it caters to the irresponsible and not the responsible savers.  History will show that Alan and Ben were complete buffoons.

Abolish the Fed.

The job of the Fed is to do what the designers of the Fed intended it to do, enrich and empower the member banks.  The legislation to create the Federal Reserve was written by bankers and was intended to enrich banks. 

The easiest way to figure out anybody’s intention is to look at what they have done.  What has the Fed done in its 97 year history?  If that is too long to research, what has the Fed done in the last 10 years?

You will know them by their deeds.

PR,
  Why allow the facts to get in the way of a HOPEful story on how inflation is remaining surprisingly low and that we should all feel wonderful about our economy and that pesky food and energy thing is really nothing to worry about.

PR: “Every time I hear an inflation number reported without food or energy cost I have to laugh.  Only the two most important expenses, excluding housing and education which also have not been included in the CPI for the past 20 years.”

How many times must we go over this? Food and energy costs are not included in SHORT-TERM inflation stats due to their volatility, not due to their unimportance. Food and energy costs are ALWAYS included in longer-term inflation reporting, such as annual or multi-year inflation stats.

-Darth