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http://www.longislandbubble.com This video is done to the tune of Van Halen's "Right Now". It is about how the housing bubble will push us into a severe recession and probably take the dollar with it. Are you concerned about the economy? Are you a long island resident, a tranplant or just someone in the mortgage industry with information to share? Join us in my new forum http://forum.longislandbubble.com *** For those who don't know the lyrics *** Don't wanna wait 'til tomorrow Why put it off another day? One by one, little problems Build up, and stand in our way. Oh One step ahead, one step behind it Now ya gotta run to get even Make future plans I'll dream about yesterday, hey! Come on turn, turn this thing around (Right now) Hey! It's your tomorrow (Right now) Come on, it's everything (Right now) Catch your magic moment Do it right here and now It means everything Miss a beat, you lose a rhythm An nothin' falls into place. No! Only missed by a fraction Slipped a little off your pace. Oh! The more things you get, the more you want Just trade in one for another Workin' so hard to make it easy Whoa, got to turn. Come on, turn this thing around (Right now) Hey, it's your tomorrow (Right now) Come on, it's everything (Right now) catch that magic moment Do it right here and now It means everything Said a lie to me Right now What are ya waitin' for? Oh! Yeah! Right now (Guitar Solo) (Right now) Hey! It's your tomorrow (Right now) Come on, it's everything (Right now) Catch that magic moment And do it right, right now (Right now) Oh, right now! It's what's happening Right here and now Right now, it's right now Oh! Tell me, what are ya waitin' for? Turn this thing around

Channel: News & Politics
Uploaded: May 28, 2007 at 6:58 pm
Author: jjenson2006

Length: 0:05:08
Rating: 4.81
Views: 92,343

Tags: long island housing bubble recession crash meltdown economy foreclosure Schiff Shiller Roubini Baker

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Video Comments:
Sofunnylol (Wednesday 8th of October 2008 08:06:29 PM)
This was the video that inspired me to start my blog. :)
YouSpamTard (Thursday 2nd of October 2008 12:47:31 PM)
You all are making this to complicated. A "system", be it a machine, a person, a household, or a country is worth what it is worth. All the rest is a scam. Tax a system, any system beyond it's load capacity and it will break down. Also, the size of the system comes into play here as well. The larger a system is, the more working pieces and parts it has, the more chance there is to have a part in that system break. Add to all of that, human greed, and shit will hit the fan.
spendeck (Monday 29th of September 2008 10:04:17 AM)
The real root to the problem that most people aren't aware of is, the fact that the Federal Reserve is a Bank and Loans out money to the government... the Federal Reserve is the one responsible for the value of the dollar. the Federal Reserve uses the Central Banking system. meaning that for every dollar the us makes is actually a loan from the Federal Reserve bank so for instance a dollar is actually a dollar + a amount of interest that the Federal Reserve dictates.
jhammer74 (Monday 29th of September 2008 07:16:43 PM)
Yes. The government is responsible for controlling the value of a dollar, but rather than controlling the money supply and letting interest rates rest at market levels, they indirectly control the money supply through the interest rates. It is inefficient, and further, fiat money + fractional reserve lending is morally dubious. The money they lend comes from the value of the dollar in your pocket, but you don't get to partake in any of the interest payments... sigh.
RayAir1 (Monday 29th of September 2008 07:27:55 AM)
If you are in an ARM that has or will reset much higher and you are already having trouble paying it with no hope to refinance to better terms, my professional advice is to stop paying it. Stop paying it, live there as LONG as possible without paying. Save that extra money in a "hole in the ground", not the bank and go find a nice house to rent. Pride kills finances and puts families into homelessness. Don't go destitute paying the crooks!
kng863 (Monday 22nd of September 2008 05:47:28 PM)
When the clueless girl says "what's going on, why isn't anyone buying?", that just makes my day. LMAO. It's like these people have no idea of economics.
jjenson2006 (Thursday 18th of September 2008 07:24:24 PM)
Anyone who bought a house was speculating. They knew prices were high and they were speculating that they would hold those high values and/or increase as well. The market is free, no one held a gun to the heads of these people. I wanted to buy as well, but I knew the prices didn't make any sense so I decided to wait it out instead. Everyone needs to take responsibility for their own actions. Everyone was gaming the system, using the cheap money that Greenspan put into circulation.
Analyzr666 (Saturday 13th of September 2008 05:50:45 PM)
Haha! ezeloan is an idiot! He probably doesn't have any loans to do so he is on youtube! LMAO!
ezeloan (Wednesday 10th of September 2008 08:36:28 AM)
Alarmist BS abstractions.
GojiPug (Monday 8th of September 2008 09:54:21 AM)
Freddie Mac and Fannie Mae bailout by the Fed starting at 100 billion each, PIMCO and People's Bank of China made money, no coincidence!