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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (37441)	8/9/2005 10:53:02 PM
From: Jim McMannis	Read Replies (2) \| Respond to of 306849

In Greek mythology, Cassandra ("she who entangles men") (also known as Alexandra) was a daughter of King Priam of Troy and his queen Hecuba, who captured the eye of Apollo and so was given the ability to see the future. However, when she did not return his love, he placed a curse on her so that no one would ever believe her predictions. Thus Cassandra foresees the destruction of Troy (she warns the Trojans about the Trojan Horse, the death of Agamemnon, and her own demise), but is unable to do anything about them. Coroebus and Othronus came to the aid of Troy out of love for Cassandra. Cassandra was the first to see the body of her brother Hektor being brought back to the city. After the Trojan War and after being raped by Ajax, Cassandra is taken as a concubine and sex slave by King Agamemnon of Mycenae. Unbeknownst to Agamemnon, while he was away at war, his wife, Clytemnestra, had begun an affair with Aegisthus. Upon Agamemnon and Cassandra's arrival in Mycenae, Clytemnestra asked her husband to walk across a purple carpet; he initially refused then gave in and entered, not believing Cassandra's warnings. Clytemnestra and Aegisthus then murdered Agamemnon, and then Cassandra. Some information says that Cassandra and Agamemnon have twin boys Teledamus and Pelops, who are killed by Aegisthus.

To: CalculatedRisk who wrote (37441)	8/9/2005 10:53:43 PM
From: John Vosilla	Read Replies (2) \| Respond to of 306849

I'm listening to economists Silvia of Wachovia and Duncan of the MBA on CSPAN. They are so full of shit IMHO but it is no surprise since they are industry pimps. They make it sound like a downturn in a housing market can only occur due to a local economic downturn and increased layoffs. I've been in the bubble camp for less than a year now so am not aware if folks like Baker have been doom and gloom for a long time. I guess your credibility is shot if you are too early to the party.<g>

To: CalculatedRisk who wrote (37441)	8/9/2005 10:57:47 PM
From: shades	Respond to of 306849

This Dean Baker guy seems pretty sharp - read some of his old stuff: inthesetimes.com Bursting Bubbles Why the economy will go from bad to worse By Dean Baker \| 5.9.03 print \| email \| comment Where is the best place to go for good advice about the stock market and the economy? The Wall Street Journal, Business Week, Fortune? If it is late 1999 and the stock market is soaring to record highs, the correct answer is In These Times. In December 1999, when the economic and political establishment was singing the praises of the “new economy” and promising an era of unparalleled prosperity, In These Times ran “After the Fall,” a cover story by Dean Baker, which explained that a stock market crash was inevitable. Baker also warned of some of the consequences of the crash—downsized 401(k) retirement plans, a funding crisis for defined-benefit pension plans, shriveling endowments for universities and foundations, and a recession pushing the unemployment rate up past 6 percent. During the ’90s boom, Baker was one of the few economists who clearly identified the stock market bubble. But no one in a position of power was willing to listen, even though the main thrust of the argument rested on basic arithmetic. Remarkably, the same “experts” who led the nation into the bubble are still dominating public debate on the economy. So In These Times is willing to break with the conventional wisdom again. In the first of a special two-part series on the economy, Baker explains how related bubbles in the property and currency markets have yet to burst, and how that prospect could severely hamper our quality of life for years to come. This guy is a prophet!! hehe