08.25.07
A correction to tonight’s show
I apologize in advance. Options expiration is 9-21 as someone reminded me. It is MY opinion that whatever event is going to take place will do so by 9-15-07.
Next time I’ll try to get 8 hours of sleep and do a better job. Next week, the focus will be on the ominous parallels we could be witnessing as 1931 may morph into 2008…..look for the long worked on, long read of an op-ed this weekend as I’ve been buried by my work and was able to buy another extension to my contract for one more month.
Joe said,
August 25, 2007 at 12:50 am
Ok, John. Here is the prediction on loan officer forum on CW. One of their reps believes they will be stronger than ever in a few months. LOL. Here is a response that makes a lot of sense.
CW will be DOA B4 08 . . .
$2 Billion is chump change for the Mozilo behemoth.
$11 billion last week, couple billion this week.
They need 10 billion a month just to keep the lights on.
Correct me if I’m wrong, but don’t you need to close loans to pay the bills - not borrow money! That just creates more debt.
The Lions are circling the kill . . . . won’t be much left of the caracas when the Buffet is through.
http://forum.brokeroutpost.com/loans/forum/2/157186.htm
Joe said,
August 25, 2007 at 1:06 am
Another funny/not funny CW story right in South FL, John.
My sister-in-law worked for CountryWide where they were in South FL.
Everyone felt that something was wrong, but nobody could ‘prove’ their instincts.
The ‘great’ managers at CountryWide said there was going to be ‘Christmas Party’ at the beach. THEY SENT OUT INVITATIONS TO THE WHOLE BRANCH in SOUTH FL.
Some of the employees wanted directions to the hotel, so they called the hotel.
THE HOTEL SAID THERE WAS NO RESERVATIONS MADE BY COUNTRYWIDE.
People were calling every week to see if they reserved or not.
Christmas came around……….EVERYONE was laid off.
Way to go Countrywide!
http://forum.brokeroutpost.com/loans/forum/2/158089.htm
Marcel said,
August 25, 2007 at 7:12 pm
John, Thanks for your insight on what is really going out.
Don’t be too hard on yourself,you’re doing a great job.
The truth is becoming quite rare in these days of spin and deception.
Look forward to hearing you next Friday or sooner.
the shadow of washington said,
August 26, 2007 at 4:19 am
i have had several morgage companies that have called me to try and talk me into refinancing my home when i bring up some of the info that i have heard on your program thru the SQ program they panic and hang up or like the last one she had told me there company in portland ,oregon was having a meeting friday evening on there high risk loans that had went bad and there also were changing there rules on loans and there was real big debt issues.i have taken several steps upon yours and steves advice for the better side of the great depression #2 as my father had went thru it and yep he’s still around and does not like what he is seeing.
the shadow
crazylikeafox said,
August 26, 2007 at 10:46 pm
http://finalsolution88.com/German_Inflation.htm
Interesting reading on Germany’s hyperinflation.
Lorilee Ward said,
August 27, 2007 at 6:26 am
My daughter works for the local sheriffs department (IN), processing warrents. For the past year she has process so many forclosure warrents, they are now delaying serving them(up to 3 months). The sheriff sales bring very little to no interest, except for the banks and credit union. The forclosures are coming from (all) top banks to local credit unions.Because of this information, I only keep a small amount of funds in the bank/credit union, enough for monthy bills. Local reporting of what is truely going on in our local economy is nill!