% | $
Quotes you view appear here for quick access.

Direxion Daily Financial Bear 3X ETF Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • seasonedspec seasonedspec Mar 8, 2010 5:53 PM Flag

    Uh-Oh CNBC just told truth about home values.

    Most of us here already know that the Banks have not marked their mortgages down to their current market value. We therefore know that that the banks are in serious trouble and that their financial statements do not reflect reality. But this has not kept the market price of FAZ from falling lower relentlessly. I doubt that we'll see a change in this trend for some time. SS

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • That is correct, we've been saying this forever, banks are insolvent. The idea that housing prices were just "temporarily" overshoot to the downside and will have a "V" recovery, and all the faking will be OK, is just total BS and has completely failed.

      here we are 1 year later, and housing prices haven't recovered at all, and in fact, most all people not trying to lie about it, say they are going LOWER still.

      Sooner or later reality must be faced. So far, its been "later", and "really really later", like 2015.

      • 1 Reply to netnimblejack
      • You are correct to some extent. Bernanke is the mad scientist. The expert on depressions, who has a theory that he can use the printing press to stimulate his way out of a depression. It's kind of like having an atom bomb go off and think you can get on your bike and outride the blast. Just crazy. Nowhere in the history of society has this theorty worked and do to what he is doing will likely destroy the currency. But hey, everybody is on the bike and confident this guy knows what he's doing. The only big winners are the banksters, who manage to keep skimming of a good portion of the bailout and stimulus money as we go along. The big loosers are likely to be the citizen, taxpayers, and particularly the pensioners. Wait til this thing really starts going south an we get the IMF in here talking about austerity measurers. The Goldman Sacs boys will be on their tropical island by then down margaritas and living off the fat of the land.

31.1012-0.3888(-1.23%)12:49 PMEDT