Comments on: Economic and Housing Tsunami Approaching: Stage Two of the Housing Collapse has arrived to California and This Time it will be much Worse. http://www.doctorhousingbubble.com/economic-and-housing-tsunami-approaching-stage-two-of-the-housing-collapse-has-arrived-to-california-and-this-time-it-will-be-much-worse/ How I Learned to Love Southern California and Forget the Housing Bubble Thu, 11 Mar 2010 03:48:28 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: wgift http://www.doctorhousingbubble.com/economic-and-housing-tsunami-approaching-stage-two-of-the-housing-collapse-has-arrived-to-california-and-this-time-it-will-be-much-worse/comment-page-1/#comment-26520 wgift Tue, 04 Nov 2008 04:32:11 +0000 http://www.doctorhousingbubble.com/economic-and-housing-tsunami-approaching-stage-two-of-the-housing-collapse-has-arrived-to-california-and-this-time-it-will-be-much-worse/#comment-26520 This argument that this is not "true free market capitalism" is as sensible as a communist's frequently made statement that the USSR was not "true communism". I've even heard people say that we need to achieve a "true anarchism". Reality is messy, and holding on to the pure ideals of youth when you're in your 60s (or 50s, 40s, or 30s) is folly. You have to develop new, messy ideals that can work with reality as it is. This argument that this is not “true free market capitalism” is as sensible as a communist’s frequently made statement that the USSR was not “true communism”. I’ve even heard people say that we need to achieve a “true anarchism”.

Reality is messy, and holding on to the pure ideals of youth when you’re in your 60s (or 50s, 40s, or 30s) is folly. You have to develop new, messy ideals that can work with reality as it is.

]]> By: sierra http://www.doctorhousingbubble.com/economic-and-housing-tsunami-approaching-stage-two-of-the-housing-collapse-has-arrived-to-california-and-this-time-it-will-be-much-worse/comment-page-1/#comment-26451 sierra Sun, 02 Nov 2008 13:35:48 +0000 http://www.doctorhousingbubble.com/economic-and-housing-tsunami-approaching-stage-two-of-the-housing-collapse-has-arrived-to-california-and-this-time-it-will-be-much-worse/#comment-26451 Reply to Laura L and Ann Ryand and "free market" capitalism.... I agree with most of what you said until your comments about "greed would have been tempered by consideration of the probable consequences a long time back, and lenders would have pulled in their horns when the defaults started spiking in 2002-2003." Sorry, but the lenders did know...and they continued to develop more and more "sophisticated" off the books entities to hide the coming losses and further to falsify their own bottom lines etc. And, with the lobbyists in Washington pushing for more and more laxity, and the corrupt (where you are right) congress and Senate and President and overseers involved...well, we got what we got! Alan Greenspan is so naive he's pathetic! Virtue will never couple with greed. Period. May I gently suggest that a good book to read is: "The Roaring Nineties" by Joseph Stiglitz Reply to Laura L and Ann Ryand and “free market” capitalism….
I agree with most of what you said until your comments about “greed would have been tempered by consideration of the probable consequences a long time back, and lenders would have pulled in their horns when the defaults started spiking in 2002-2003.”
Sorry, but the lenders did know…and they continued to develop more and more “sophisticated” off the books entities to hide the coming losses and further to falsify their own bottom lines etc. And, with the lobbyists in Washington pushing for more and more laxity, and the corrupt (where you are right) congress and Senate and President and overseers involved…well, we got what we got!
Alan Greenspan is so naive he’s pathetic!
Virtue will never couple with greed. Period.

May I gently suggest that a good book to read is:
“The Roaring Nineties” by Joseph Stiglitz

]]> By: Steve http://www.doctorhousingbubble.com/economic-and-housing-tsunami-approaching-stage-two-of-the-housing-collapse-has-arrived-to-california-and-this-time-it-will-be-much-worse/comment-page-1/#comment-26426 Steve Sat, 01 Nov 2008 16:58:53 +0000 http://www.doctorhousingbubble.com/economic-and-housing-tsunami-approaching-stage-two-of-the-housing-collapse-has-arrived-to-california-and-this-time-it-will-be-much-worse/#comment-26426 One thing that Atlas Shrugged illustrates that doesn't exist in today's world is a bunch of large businesses run by their founders, people who have a moral and spiritual interest as well as a financial interest in their company (I know, Rand wouldn't like the spiritual part). History shows that the longer a company exists, the farther from it's founder's ideals it strays. Hirelings, the people running the corporation, have no blood, sweat or tears involved in the enterprise, only the prospect of that great and grand payday. Rand's idea of the moral superiority of capitalism can only be realized when the captains of capitalism are in fact moral. Modern business schools don't churn out morally superior individuals, only shortsighted hitmen who will do anything to bolster their own bottom line no matter the consequences to the enterprise they captain. Jack Welch has been championed as the epitome of modern day CEO's. His moniker? Jack the Ripper. Nice. And with the implosion of GE Capital we now have the total annihilation of a once great American enterprise, taken down by the shortsighted leadership of The Ripper. In his quest for short term results he destroyed the long term viability of the business. And his contemporaries have followed suit. Gin up the quarter's numbers, maximize this year's results, never worry about the long term consequences of your actions. As the Japanese have said, out businesses look at the next week or next quarter, Japanese businesses look at the next 10 to 100 years. They may not be that far ahead of us today, but that thinking goes a long way toward alleviating the problems of shortsightedness. One thing that Atlas Shrugged illustrates that doesn’t exist in today’s world is a bunch of large businesses run by their founders, people who have a moral and spiritual interest as well as a financial interest in their company (I know, Rand wouldn’t like the spiritual part).

History shows that the longer a company exists, the farther from it’s founder’s ideals it strays. Hirelings, the people running the corporation, have no blood, sweat or tears involved in the enterprise, only the prospect of that great and grand payday. Rand’s idea of the moral superiority of capitalism can only be realized when the captains of capitalism are in fact moral. Modern business schools don’t churn out morally superior individuals, only shortsighted hitmen who will do anything to bolster their own bottom line no matter the consequences to the enterprise they captain.

Jack Welch has been championed as the epitome of modern day CEO’s. His moniker? Jack the Ripper. Nice. And with the implosion of GE Capital we now have the total annihilation of a once great American enterprise, taken down by the shortsighted leadership of The Ripper. In his quest for short term results he destroyed the long term viability of the business. And his contemporaries have followed suit. Gin up the quarter’s numbers, maximize this year’s results, never worry about the long term consequences of your actions. As the Japanese have said, out businesses look at the next week or next quarter, Japanese businesses look at the next 10 to 100 years. They may not be that far ahead of us today, but that thinking goes a long way toward alleviating the problems of shortsightedness.

]]> By: Guy Fox (Tampa Bay/Key West/Havana) http://www.doctorhousingbubble.com/economic-and-housing-tsunami-approaching-stage-two-of-the-housing-collapse-has-arrived-to-california-and-this-time-it-will-be-much-worse/comment-page-1/#comment-26404 Guy Fox (Tampa Bay/Key West/Havana) Sat, 01 Nov 2008 05:55:40 +0000 http://www.doctorhousingbubble.com/economic-and-housing-tsunami-approaching-stage-two-of-the-housing-collapse-has-arrived-to-california-and-this-time-it-will-be-much-worse/#comment-26404 Too many people did not see their house as their home. And this is one of the reasons why we're in the mess we're in. Too many houses. Not enough homes. Finally this! Whom the gods would destroy, they first make mad! And there is much madness in the land. People voting for McCain/Palin tells the tale. Madness and insanity. May we recommend a book called Conservatives Without Conscience, by John W. Dean, former White House council for President Richard M. Nixon. It succinctly shows why the United $tates is in such a mess. The book is shocking and terrifying. It's a beautiful day here in Havana! Yesss we have the internet down here... you foolish Amerikan a*****. Too many people did not see their house as their home. And this is one of the reasons why we’re in the mess we’re in. Too many houses. Not enough homes.

Finally this! Whom the gods would destroy, they first make mad! And there is much madness in the land. People voting for McCain/Palin tells the tale. Madness and insanity. May we recommend a book called Conservatives Without Conscience, by John W. Dean, former White House council for President Richard M. Nixon. It succinctly shows why the United $tates is in such a mess. The book is shocking and terrifying.

It’s a beautiful day here in Havana! Yesss we have the internet down here… you foolish Amerikan a*****.

]]> By: Laura Louzader http://www.doctorhousingbubble.com/economic-and-housing-tsunami-approaching-stage-two-of-the-housing-collapse-has-arrived-to-california-and-this-time-it-will-be-much-worse/comment-page-1/#comment-26397 Laura Louzader Fri, 31 Oct 2008 23:33:33 +0000 http://www.doctorhousingbubble.com/economic-and-housing-tsunami-approaching-stage-two-of-the-housing-collapse-has-arrived-to-california-and-this-time-it-will-be-much-worse/#comment-26397 Ben Roberts, you say it more correctly and incisively than I did, thank you. The existence of the Fed is a violation of free market principals, as is the massive government intervention in our economy (and our lives) at every level, since the late 19th century. The place of the government is to protect it's citizens from force and fraud, something it's been doing a notably poor job of in the past few decades. This not to say that there is not a place for regulation- we need anti-fraud laws and we need regulation necessary to ensure basic safety. But that is a long way and a much different thing than policies designed to skew the market in a particular direction, with the backing of federal monies, no less. Ben Roberts, you say it more correctly and incisively than I did, thank you.

The existence of the Fed is a violation of free market principals, as is the massive government intervention in our economy (and our lives) at every level, since the late 19th century.

The place of the government is to protect it’s citizens from force and fraud, something it’s been doing a notably poor job of in the past few decades. This not to say that there is not a place for regulation- we need anti-fraud laws and we need regulation necessary to ensure basic safety. But that is a long way and a much different thing than policies designed to skew the market in a particular direction, with the backing of federal monies, no less.

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