Jim Cramer says housing market is in armegedon

[Nitro Express]

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[ODShowtime]

shit is getting crazy. credit rates are skyrocketing

[BITEYOASS]

Damn house flippers fucked up everything.

[scamper]

Buy, Buy, Buy....

[Ellyllions]

I wanted to slap that man across his big forehead.

First he says that he doesn't like the way things are being reported, says that it "frightens" investors; then he flips the fuck out over how bad the whole cituation is at this point.

I'm sure it's stressful for investors and market moguls right now so I'm sure he has every right to be worried. But damn man, show some professionalism in front of the camera! Every time the host tried to talk, he just screamed louder. If the market didn't drop after that shit aired, then it never will!

[Hardrock69]

Hell, I got my property back when interest rates were at a 40-year low.

And got it with 15,000 in equity built-in.

Which has intreased to 44,000 over the past 3 years.

I got no worries.

[Viking]

Cramer is entertaining. It was a hoot watching him lose his fucking mind on TV. :D

[Nitro Express]

Originally posted by Ellyllions
I wanted to slap that man across his big forehead.

First he says that he doesn't like the way things are being reported, says that it "frightens" investors; then he flips the fuck out over how bad the whole cituation is at this point.

I'm sure it's stressful for investors and market moguls right now so I'm sure he has every right to be worried. But damn man, show some professionalism in front of the camera! Every time the host tried to talk, he just screamed louder. If the market didn't drop after that shit aired, then it never will!

The man is worth $100,000 and his ratings are high because he is known to freak out. One of the few rich Wall Street guys who does care about the little guy. It's people losing their homes and jobs that caused the freak out. Like he said, the smart traders will be ok but it's the average person who is going to have their head handed to them.

[Nitro Express]

The Chinese are starting to dump the dollar for Euros and gold. Both Russian and China are building up a gold reserve. The Euro has it's own long-term problems but right now is a better currency than the dollar.

The Fed jacking rates and tightening the money supply trying to hedge inflation but it's too late. That should have been done in the mid 1990's before real estate got too out of hand. Greenspan got us in this mess. The thing is the rich guys don't want to lose their dollar worth so they are keeping rates higher but they didn't buy a variable rate mortgage either. It's onlt going to get worse and whoever is in office now will get the blame. George W. Bush will go down in history as the worst US president, who not only got us stuck in Iraq but caused a major economic downturn.

[Ellyllions]

Nitro, no disrespect, but that kind of complete freak out doesn't appeal to me. Guess I'm different. My ears shut down and I'm done.

So the Chinese are beginning the dump of the dollar. I'd heard that it was coming, especially after I heard that Iran was doing it.

I've also heard that when the Chinese dumps the dollar completely, we go into economic turmoil....

[BITEYOASS]

Originally posted by Ellyllions
Nitro, no disrespect, but that kind of complete freak out doesn't appeal to me. Guess I'm different. My ears shut down and I'm done.

So the Chinese are beginning the dump of the dollar. I'd heard that it was coming, especially after I heard that Iran was doing it.

I've also heard that when the Chinese dumps the dollar completely, we go into economic turmoil....

Here is how I feel about China at the moment:

"Hey, I'm tired of being a freaky musician
I wanna be Napoleon!
Let's have some more wars around here!
What a stinking, shitty little war we have running over there
Let's get a big one!
A real big one!
With a lotta killings and bombs and blood!" - Jim Morrison

[Blackflag]

A low dollar is a good thing. Not sure what people don't get about that. A high dollar only benefits wealthy people, that's why they have you thinking the opposite.

[scamper]

Originally posted by Nitro Express
The man is worth $100,000

I hope he's worth more than that. If our economy goes to crap it will be because people don't know how to manage their money. It's all about credit and hoping they will hit the lotto. It's easy just don't spend more than you have, pay cash, do a 15 year mortgage on a house you can afford.

[matt19]

Originally posted by Blackflag
A low dollar is a good thing. Not sure what people don't get about that. A high dollar only benefits wealthy people, that's why they have you thinking the opposite.

What do you consider wealthy? Not having to live under a bridge like you?

[Blackflag]

Originally posted by matt19
What do you consider wealthy? Not having to live under a bridge like you?

Anybody who gets the bulk of their income from interest. What does my situation have to do with that, douche?