Is anyone watching CNN "Your Money?" There is a guy who actually said the stimulus will to TOO much

[Parker CA]

ARE. YOU. LIVING. UNDER. A. ROCK?

He said that economic signs are signaling the economy is on the rebound, that jobs are a trailing indicator, and that the stimulus is too big and that it will do too much. What the hell is this guy thinking. Stephen Leeb. He actually said, "I fear the stimulus is going to be too big." "Housing affordability is at the highest level ever." This guy is living in an alternate reality.

WOW.

[Jack Bone]

1. evidently, he isn't sweating the phone bill this month..nt

[BrklynLiberal]

2. Housing is affordable to whom????

If the prices are low it does not help anyone who is NOT EMPLOYED!!!!
What an ass.

[EFerrari]

3. Who was that?!

[Parker CA]

4. Stephen Leeb. Another rake that belongs in the tool-shed. n/t.

[Parker CA]

5. WOW part 2. "I happen to believe, and I could be dead-wrong here, that we don't need a lot of

immediate stimulus in this economy. I think the economy is more our less, on- going to take care of itself. It may take another three months of terrible jobs..."

Is this guy serious? So detached from reality it's laughable.

[barb162]

8. I wonder why they had the idiot on?

Makes me wonder.

[rvablue]

14. If he believes what he's saying, why did he write a book a few years back

called "The Coming Economy Collapse."??? :shrug: His sunny statements don't seem to match-up with his written word.

[sandnsea]

6. They were affordable in the Depression too

I understand his point, but we're on a downward spiral that won't end if we don't get some people some jobs. You need a job to qualify for a loan to buy a house, no matter how cheap the house is. And they still aren't cheap enough for those under the median income to buy them.

[barb162]

10. excellent point.

I think we're heading there quickly. :(

[barb162]

7. Leeb has to be a paid operative of the RNC.

"Housing affordability is at the highest level ever" is probably true since houses are selling for about a tenth of their build cost a few years ago in some areas of the country. Housing is a steal now. The jobs remarks are showing he's straight out of the RNC playbook.

[Parker CA]

11. I agree that the jobs remarks are true, but the reality is that a tiny percent of people can take

advantage of the prices and the opportunities for refinancing that do exist in this downswing. It's great for those with enormous expendable cash, or those with secure incomes large enough to cover their loan requirements, but for the average homeowner or potential buyer, the situation isn't an open-door opportunity.

This is how the pukes work though. They put in a factually correct statement, but then they add the total BS about the economy not needing stimulus, and then the talking heads and pukes that go on air focus only on the tiny percentage of the overall statement.

The washing machine is stuck on the spin-cycle, but the dirt hasn't been washed off.

[rvablue]

15. The google says that he was an advisor on the Bush-Cheney energy plan...

'nuf said......:evilfrown:

[and-justice-for-all]

9. He must be on the Repuke payroll..nt

[Still Sensible]

12. It would be great if he was right, but unfortunately

he is dead wrong. He is falsely interpreting what is going on in the housing and mortgage sectors.

First, in housing all that is happening is that people of means--bargain hunters and speculators--are snatching up great deals that resulted from the collapse and skyrocketing foreclosures. This is not recovery, it was predictable and artificial as a barometer of the market.

Second, in the mortgage area, once again people with means are taking advantage of incredibly low interest rates and refinancing their properties (or financing the bargains noted above). Once again, this is not recovery, it was predictable and artificial as a barometer of the market.

Nothing that is going on is indicative of a rebounding housing market, not with foreclosures continuing at an incredible pace.

All Leeb (dweeb?) is doing is trying to set the stage for the same bullshit "...the economy was recovering anyway..." argument that the GOP used against Clinton in the 90s.

[peacetalksforall]

13. Tell him to read Paul Krugman and say where Krugman is wrong.

[Ikonoklast]

16. I just want some of what he's having.

We are fast approaching another wave of mortgage defaults as recent ARMs are coming up for re-financing. These houses were purchased at or near the very top of the housing bubble, and no way can there be any equity left in these homes.

What lending institution will be willing to finance a mortgage on a property that is already underwater? The real estate market is nowhere near bottoming out yet, unless something changes dramatically, and soon. Like today.

Housing will become even more affordable as values get smacked down again by another wave of defaults. Buying now would be a huge mistake.

Here they come:

[ddeclue]

17. Ummm NO.. I can't pay my DTV bill and they've turned it off...

no job... :(

I'll let Stephen know when it's back on and I'm working...

:argh: