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April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom."

Discussion in 'Political Discussion' started by weswelker#83, Apr 14, 2008.

  1. weswelker#83

    weswelker#83 Rookie

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    April 20, 2007: Treasury Secretary Paulson : "The housing market is at or near the bottom. The U.S. economy is very healthy and robust. Subprime mortgage market won't impose a serious problem."


    April 20, 2007:
    http://www.marketwatch.com/news/sto...x?guid={1603C0CC-3BFA-4F25-8AA1-5427FE7C5177}


    Last edited: Apr 14, 2008
  2. atomdomb

    atomdomb Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.



    quick! you need to move to france! we need to save ourselves! you go first! the rest of us will follow!!:rolleyes:
  3. weswelker#83

    weswelker#83 Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    What is your post got to do with their incompetence ? I am not the one who said those lies ! :rolleyes:


    How do you say troll in french ,sir ?
    Last edited: Apr 14, 2008
  4. atomdomb

    atomdomb Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    once again you show that you have no idea how the economy works.

    troll in french? le weswelker.
  5. weswelker#83

    weswelker#83 Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.


    The serious problem is the moral hazard introduced by the fed bailout. Once you say "these institutions are so integral to the world economy that we can't let them fail should their actions merit it," then you have a problem.
    If I'm running a big investment bank, and I'm faced with two investments, one with relatively little risk/return, and one that's just insane - huge risk for huge return, if I know that the government won't let me go bankrupt, then there's no penalty for picking the risky move and being wrong. So I'll do that.
    it's like saying "heads you win $100, tails you lose $100." Lots of people wouldn't do that. But if someone said "heads you win $100, tails you lose $10 and we all laugh at you for a minute" would you do that? Unless you put way too much value in avoiding people laughing at you, you'd play that game all day long.

    You have no idea how the economy works .

    Troll in french : L'atome domb.
    Last edited: Apr 14, 2008
  6. otis p. driftwood

    otis p. driftwood Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    Wes, why do you feel it necessary to accuse everyone who has a different view point from yours of being a troll?

    Can you not take criticism? Or are you merely that intellectually vacant?
  7. weswelker#83

    weswelker#83 Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    Is that what you have to say about this quote :
    Why attacking the messenger when you have the chance to defend and explain and dissect the primary information ?

    I am telling you this , because you are not helping the quality of the debate.
    Last edited: Apr 14, 2008
  8. otis p. driftwood

    otis p. driftwood Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    No one was attacking any messenger. I asked you a question. I've noticed that you call people who don't agree with you "trolls" and I'm curious why.
  9. weswelker#83

    weswelker#83 Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.


    Let me repeat the question , you still don't get it .

    What do you think about this :
    April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom."
    Last edited: Apr 14, 2008
  10. otis p. driftwood

    otis p. driftwood Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    It has nothing to do with my question for you. Why do you call everyone who doesn't agree with you a troll?
  11. STFarmy

    STFarmy Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    His name is Robert Paulson... his name is Robert Paulson...
  12. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    Probably a lot of people thought that. I know you'll say "his job is to be right" but that's the way the economy and the stock market are - no-one knows what's around the corner, where the tops and bottoms are. Sometimes a surprise pops us and sticks you in the ass.
  13. atomdomb

    atomdomb Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    ding ding ding!!! another winner! once again belichickfan explains the simplicities of the economy. what people say they think the economy is doing has nothing to do with the economy itself. it is cyclical in nature and will continue to be that way. the stupid people are those that see a prediction from an economist such as paulson and turn it into the bible. (or at least try to hold him accountable for it) wow! paulson was wrong about the economy? no sh!t. is bill clinton to blame for the the stock market crash that started during his last year as president and continue until 03. No, it's the economy stupid. le wes, simple macro, read a book. here's an excerpt from another point of view.

    After the housing bubble pops, prices will likely plummet for at least a decade, unfortunately. Too pessimistic? Consider this: After the 1989 Japanese housing bubble, housing prices tanked for 13 straight years! The Japanese housing bubble was a similar situation to what we are currently experiencing.

    Even if the housing crash isn’t nearly as drastic, it could still take at least 9 years to recover. This is precisely what occurred after 1988 as the United States housing boom ended. National housing prices finally reached previous 1988 levels in 1997!

    From what we have seen, it is inevitable that we are in a housing bubble that will end in an economic crisis. The economy always finds a way to punish excess.


    the economy is it's own animal. predictions...stupid. believing them...stupider.
    Last edited: Apr 14, 2008
  14. weswelker#83

    weswelker#83 Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    HAHAHAHA Funny man.

    The guy is clueless ! all the indications were there, and yet nothing done to avoid it.
    Stupid people didn't listen about the warnings , the proof ,here it is :

    8/28/2006-Peter Schiff On Kudlow & Company
    http://www.youtube.com/watch?v=LfascZSTU4o

    Keep listening to the clowns , ding ding ding.
    Last edited: Apr 14, 2008
  15. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    You can find people on either side of any economic issue. Some will be right, some will be wrong. A guy isn't clueless just because he isn't always right. It's interesting that you dare to call a rather accomplished man "stupid". And can you tell us everything that will happen in the next year economically please - oh, and be 100% correct.
  16. weswelker#83

    weswelker#83 Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.


    Obviously , he was not even close . Look , i don't pretend to know better than professionals , but in my field (you don't need to know), i am an expert. :D
    , but once you are in that position , it 's not a game anymore.You gotta be good , or let somebody else do the job.
  17. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    Somehow I doubt that - unless "your field" is picking your nose, or the like.
  18. weswelker#83

    weswelker#83 Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    You can doubt as much as you want , as i can doubt your competences in your field.

    /but please , try to not go OFF Topic.
    Last edited: Apr 14, 2008
  19. otis p. driftwood

    otis p. driftwood Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.

    WTF?

    You make a statement about how you're an expert in your field, someone responds to it and you b!tch at them for going off-topic?
  20. weswelker#83

    weswelker#83 Rookie

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    Re: April 20, 2007: Treasury Secretary Paulson: "The housing market is at the bottom.


    I had to answer his question (see quote):
    Look sir if you like to create controversies , i am not your type. Bugg off now , you wanna talk , let's stay in topic now .

    I see You are not following , you gotta stay focused ,my friend.
    Last edited: Apr 14, 2008

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