Fannie Mae, 24 year chart
Freddie Mac, Lifetime chartFannie Mae and Freddie Mac both began a collapse similar to the Bear Stearns debacle, although far grander in scale. There again will be a familiar sucking sound from the South, that is if you live directly North of D.C.
Look closely at these charts; there should be some instructive lessons to be learned about these two hugely leveraged levithans.
First, almost ALL bubbles have some sort of leverage available to the participants, and the Ultimate Fatalities will be those that lent to the masses. Why? Because when you lend to speculators (de rigueur in Bubble Times), and the loan is secured against the Bubble Goods, YOU are on the hook for any large scale losses, while the speculator WISELY plays the equity side, a call option without any real prospect of loss.
Second, leveraged institutions ALMOST ALWAYS are pulled into the maelstrom of what appears to be sound, prudent lines of business. Remember Lending To Brazil? Sure, sounds good, all they have to do is print whatever the hell sort of loser ass currency they have down there to pay us Wall St bigwigs off, right? Uh huh. That one didn't go well.
Finally, there will always exist the extremely remote chance of some sort of catastrophe completely destroying a otherwise prudent loan portfolio. It just happens. Small mid-west banks learned this during the floods of 1993. It just goes beyond their thinking that there will be a 1,000 Year Event during their lifetime.
It is the nature of banks to go broke. It is in their genome to go bust.
It's probably hard to remember now, but a year ago the idea of Freddie or Fannie going broke was so patently ridiculous, it was hardly even discussed in polite company. I remember I thought the sky was falling, but when Jimmy Rogers brought up the collapse of Fannie & Freddie, I thought he'd pretty much gone off his nut.
But look: Both institutions have wiped out a lifetime of gains, and will be summarily shot when the US Government takes over & begins operations under New Management.
And not to scare anyone, but these are the same people who INVADED IRAQ TO CONTROL OIL PRICES. THESE ARE THE SAME MOTHERFUCKERS WHO BOUGHT BEAR STEARNS DEBT. THESE FUCKERS RUN THE IRS.
The US Government is possibly the Worst Investor of All Time.
FNM & FRE securitized over half the mortgages in this country. What happens now that they are gone & Uncle Sam is now in the house? I honestly don't know, but I have a bad feeling that their track record speaks ill of what will befall all of us.
The End of An Era.
Moving on, I noted in the comments that Buena Vista homes' (built Forum Meadows STD clap trap crap shacks) is going into foreclosure.
Now, for the Noobs here, you should be aware that Wayyyyy back in mid December of last year, Roger Pollock, the anal dildo with arms that runs Buena Vista homes held a mass auction in Portland.
141 homes sell for a total of $65 million at real estate auction
OK, there is one particularly interesting quote in here that any mentally cognizant Bendite would readily understand (approx 2% of Bendites):
Westside homes in Beaverton and Hillsboro sold best, Pollock said. None of the 29 Bend homes sold, and homes that are now rented didn't sell well, either.
Pollock sold his ramshackle shit-shacks ALL OVER OREGON... except for Bend.
No. In Bend he didn't sell a single home. He actually accused those who bid on his Bend properties of trying to STEAL them. This is a clearly deluded idiot.
Or is he? See, he sold ALL the rest of the sugar shacks he was trying to sell, except Bend. It's like he is of Sound Mind and Body when he is NOT dealing with Bend, but once he is in "Bend Mode", he is out of his fucking mind. He goes totally schizo when it comes to Bend.
Any long timer to this blog knows that is the KOOL-AID EFFECT, foisted on man & beast alike via the Bend Media Propoganda Machine. ALL IS WELL. YOU ARE SAFE AS LONG AS YOU KEEP DRINKING THE KOOL-AID. WE NEED YOU TO BECOME PROSTITUTES SO WE KEEP BUYING YOU KOOL-AID AND MAKING YOU BEAR-BONG THE KOOL-AID.
Bend is run like any self-respecting hedonist Meth Den: There is The Fucking Man, The Grandmaster Pimp, The Fucking Boss Hogg, and in this town it is The Builder, or is pimped out grandpappy, The Developer.
And then there is the loose-stool fucking skanks that are drawn into the Grandmaster Pimps Meth-Den. That's us.
We are pulled in with promises of perfect powder 24/7, even in July, good wine & ass fucking your best friends trophy wife above Volo, hummers in your Hummer by your Taiwanese pool boy, and finally meth shot into your scrotum by the finest illegal aliens Madras has to offer.
And life is good for awhile. It's a hedonists dream come true.
But after a few months, Grandpappy asks you to swallow a bucket of cum from some mules that were just jerked of by Drew Bledsoe, and some other unseemly shit involving popsickles & your ass, and you're not thinking that you're living the Good Life like you once were.
The Costs To Entry seemed low. The rewards seemed high. And they were. Shortly.
But now comes the Exit Costs. And they're higher than you thought. In fact, they are barriers in your mind, because you can't, nay you WILL NOT, give up the other aspect of The Good Life, no matter what has to be sacrificed, no matter the cum buckets.
This is us. This is you, this is me. This is Roger Pollock. This is Jay Audia.
We are caught in the Bend Meth Den. Even when we want to really leave, we can't leave. This place has gripped us in some sort of catatonic fit that won't let us accept ANY reasonable offer.
What is happening to Roger Pollock & his cracker shacker butt smackers, is going to happen to this town, and all of us, on a larger cost & temporal scope. It took about 8 months for The Bend Meth Den, The Kool Aid, The Cult of Bend to take down Buena Vista Homes.
We are in for the same fate.
Look around. No one will lower their price. Many CANNOT lower their price, but there are a large number that can (Pollock), but they simply REFUSE.
Again, look at Pollock: A businessman, in this racket for the money, fairly geographically diverse. He holds an auction, and sells EVERYTHING HE'S GOT. Except for Bend, where he simply REFUSES TO ACCEPT REALITY. Why?
Why does this happen to people here? Why is this less a town, than a Meth Den where the Zombie Fucking Inhabitants seem to be robbed of all self-awareness & are completely oblivious to the catastrophe around them? Why?
The answer is of course, Bend Media. Bend Media, is systematically & purposefully creating this Cult in a futile hope to ever expand the First, Last & Greatest Industry Bend has Ever Had: GROWTH.
We aren't about actually DOING anything sustainable here. We are about getting the next mark. We grift marks. That is what this town does. We use up who is here in our Meth Den of Hedonism. Rob them of choice. Pump them full of Kool-Aid, and hand them buckets of chum.
But unfortunately for Boss Hogg, the jig is up. THEY have run out of METH to shoot into our scrotes, and we are starting to wake up. Roger Pollock woke up. And he will lose Buena Vista.
Well, who gives a shit? Big deal. Because what has happened to Pollock will happen to us all. If you think Bend is special and you are special and your house is special, you are about to get a rude wake up call, because you have been medicated by propoganda for too long, and you're about to see that Grandpappy Meth has used you up.
This is what you thought you was
This is what you really is."Holy Fuck, I White, Ass Ugly & I'm in a Bend Meth Den!"
Welcome to The Lollypop Guild, Motherfucker.
Bend Media CONTINUES to play Grandpappy Pimp to the populous, and the Bend City Council is ALL TOO HAPPY to suck their cocks as well.
But Pollocks Wake Up Call is coming to all of us. It will be exactly the same, simply larger in absolute financial & time scale. This place is going broke.
And NEVER FORGET what the true root cause is: It is NOT the housing boom or bust. That happened everywhere, and most of the country will survive. It is the media here, trying to hypnotize every single person into thinking their titties were 36DDDDD's, they looked like Angelina Jolie, they were swallowing Brad Pitts cum buckets, not old man mule jerk-off cum buckets.
They are trying to convince you YOU ARE SPECIAL for their NEEDS, NOT YOURS. Growth is ALL THEY HAVE. Just like CRACK DEALERS. Bend Media does not GIVE ONE THIN FUCK about you once you are here, only getting New Meat.
Why do you think they PUSHED through the SDC deferral plan? If they actually THOUGHT about anything for 2 fucking seconds, they would realize that giving the money to PROSPECTIVE BUYERS, while still LUDICRIOUS, makes 1.76 quadrillion times more sense than giving the builders a deferral.
But no. Once you are here, who gives a fuck. Keep entry costs low, keep rewards high... but DO NOT mention the motherfucking exit costs. And believe me, those costs will become highly important to you once you've swallowed your 14th cum bucket on the Volo Terraces.
Bend, like Buena Vista Homes, is going to go 100% BANKRUPT. And just lke any decent meth den, the Pimps get fucking rich & leave town, leaving behind used up meth-huffers who can't even tie their fucking shoes.
And it's all The Kool-Aid, it's all Bend Media. You think it's not 100% dead fucking real? Do you think it doesn't affect 100% of the local populous? Read this:
No bids on Forest Service land
Tuesday, August 19, 2008
The clock ticked past 3 p.m. on Friday, August 15, and there was no sound of a gavel coming down.
The approximately 62-acre parcel of land (50 acres net) the U.S. Forest Service put on the block in Sisters with a minimum bid of $14 million failed to attract any bids during an auction that closed last Friday.
"It's a big disappointment," said Sisters District Ranger Bill Anthony, "and it's going to create some challenges for us."
The no-bid means the Forest Service cannot move forward with plans for a new Sisters headquarters. Perhaps more distressing to the agency is the fact that proceeds won't be available to put into new facilities for the Bend-Fort Rock District, where lease costs are running the agency about $1 million per year.
"We were dependent on the receipts from that sale to fund construction of those projects," Anthony said.
The parcel, which lies along Pine Street in Sisters, was the focus of intense public interest as the possibility emerged that it could be sold to a private developer. Citizens were active in describing amenities they would like to see on the land, from more affordable housing to a public swimming pool.
The City of Sisters summarized community input as a kind of guideline for prospective developers as to how the city would likely want to see the property developed.
According to Anthony, there will be considerable discussion of options at the regional and probably at the national level. It is possible that the property could be put out for bid again in a better economic climate, but that's entirely speculative at this point, Anthony indicated.
For now, what is certain is that the Sisters Ranger District will not be moving and that large parcel of land will not be redeveloped any time soon.
"Fortunately, we have a home in Sisters," Anthony said. "It's a great location. It's not the kind of facility we need for the long term, but we can stay there for a while."
Look at that. The STUPID FUCKING FOREST SERVICE has inadvertently gotten PIMPED OUT. Yup, they think they got 36DDDDD's, when they just an asshole to 16 black fuckers.
The stupid fucking Forest Service, LIKE EVERY SINGLE MOTHERFUCKER EVER COME TO BEND, think they shit don't stink, and their real estate is worth more than The Ginza. Dumbfucks need to make way, cuz here come the cum bucket.
Now, here's a story YOU WILL NOT READ IN THE BULLETIN:
More people leaving Sisters area
By Bill Mintiens
Economic hard times are sending some local residents packing.
Sisters Rental, which also operates the local U-Haul distributorship, has tracked a trend in their U-Haul customers this summer:
"Although our U-Haul business is pretty close to what it was last year, we're seeing more people this year leaving the area than arriving," said Gilbert Porraz.
Porraz noted that it seems to be certain types of people moving on.
"I'm seeing people who've lived here for 5-7 years now moving on, mainly headed south, and most say it was just too hard to try to make a living in Sisters," added Porraz.
But he's also seen a number of "newcomers" leave the area, particularly following a hard winter and lack of employment.
"I know of several people, who arrived here all excited about a year ago, who had to move on for the same reasons. Mainly, no jobs," said Porraz.
Nancy Lynch at United Van Lines in Bend has been writing a number of quotations recently for Sisters families.
"We're definitely seeing more people leaving Sisters than moving in, several have said they have to go where the work is," said Lynch.
Lynch notes that this trend is not confined to Sisters.
"I can tell you that, in Bend, there are a lot of people wanting to leave - but can't until their homes sell," she said.
A July 25 "homes for sale" report showed 239 Sisters-area homes on the market.
"The cost of living in Central Oregon versus the pay in this area makes it very tough for people," said Lynch.
Jason Taroli with Prestige Moving & Storage in Bend, the local Allied Van Lines agent, is seeing the same trends across Central Oregon.
"There are definitely more people leaving than coming right now. We see this more in Bend, of course, due to Bend's population but it's happening everywhere," said Taroli.
Wow. Imagine that. Fucking houses in Sisters cost about 6 trillion times more than anyone makes there. And people are leaving. Is that true? They leaving?
Yeah. They are leaving Sisters in droves. Of course, once the fucking cracker wears off & Whitey wakes up in Bend, they will leave here in droves as well AND there will be an article. Of course people are already leaving as FAST AS THEY CAN.
Notice how YOU HAVEN'T READ ABOUT moving van survey's of arrivals vs departures in the Bulletin recently. Why? Right, the motherfucking departure department is PACKED. And arrivals is ZERO.
No, what we read about is the VAST BUILDING OF SUCCESSFUL PROJECTS:
Tall hotel may be in Sisters' future
By Jeff McDonald / The Bulletin
Published: August 22. 2008 4:00AM PST
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An upscale hotel rising as much as 50 feet could be on the horizon for Sisters’ Western-themed downtown.
Under plans submitted to the city in April, the 98-room, three-story Sisters Village Hotel at the west end of Sisters would give the city its tallest building and would be evaluated based on Deschutes County planning guidelines, according to Eric Porter, the city’s community development director.
That’s due to an agreement made in 1998 between Pine Meadow Village LLC, the city of Sisters and the county that gave owners of the property 10 years to submit an application and fall under the county’s less-restrictive code for the Sisters area.
Representatives of the project’s developer, Celia Hung, of Bend, turned in the hotel project application April 4, a day before the 10-year agreement expired, Porter said.
Right, right, right. The old 50 ft tall Sisters Hotel is what YOU ARE READING ABOUT.
Real estate is STILL GOOD. ALL IS WELL. Here is that bucket of cum.
OK, here comes a Mark My Words Moment:
This Celia Hung-To-The Floor has about a snowballs chance in HELL of ever building this monstrosity. NEVER HAPPEN.
You want to see the Full Scale of the horror that is our local media, you can easily see it here:
The phased approach would make sense in a tourism economy that is expected to experience a significant slowdown in the next 12 to 18 months, said Alana Audette, the president and CEO of Central Oregon Visitors Association, which markets tourism for the region.
“Early indicators are that people are going to be very cautious and price sensitive,” Audette said. “It is a difficult time to launch new products.”
Even the usually ebulient Audette thinks there are 200 different ways this thing SHOULD GET BUILT (remember, GROWTH is our ONLY INDUSTRY). Alana Audette is about the most ill-qualified dumbfuck the World has EVER KNOWN, but the Bulletin SOUGHT HER LYING ASS OUT for this "story".Standard Procedure in a Meth Den. Grandmaster Pimp tell me I pretty. I best swaller that cum. Fucking unbelievable.
Mark these Words: You wanna know how it'll go down here in a microcosm? You look to Pollock & Buena Vista Homes. Everything is Bend WAY TOO GOOD to be sold at market.
I'D RATHER LOSE EVERYTHING THAN SELL FOR LESS THAN I THINK I SHOULD GET, AFTER ALL THIS IS BEND.
So let it be written, so let it be done. Stupid Motherfuckers.
OK, on to what I think is the DOMINANT THEME for this country & it's economy: STAGFLATION.
U.S. Economy: Housing, Prices Raise Stagflation Risk
By Shobhana Chandra and Timothy R. Homan
More Photos/Details
Aug. 19 (Bloomberg) -- U.S. builders broke ground on the fewest new homes in 17 years and producer prices climbed the most since 1981, providing no sign of an economic recovery or easing inflation.
Housing starts fell 11 percent in July to an annual rate of 965,000, the Commerce Department said today in Washington. The Labor Department reported the producer price index jumped 9.8 percent from a year before.
``There's no doubt we're in a period of stagflation now,'' said Peter Kretzmer, a senior economist at Bank of America Corp. in New York who formerly worked at both the Federal Reserve Bank of New York and the Fed Board in Washington.
Stock indexes posted their biggest two-day loss since June. The Standard & Poor's 500 Stock Index dropped 0.9 percent to close at 1,266.69, with the S&P Supercomposite Homebuilding Index down 3.5 percent. Treasuries were little changed, with 10-year notes yielding 3.83 percent.
``We are still in a fairly risky situation'' on the inflation front, Fed Bank of Richmond President Jeffrey Lacker, said in an interview on Bloomberg Television. He said that higher interest rates may be needed to curtail prices even before growth and financial markets return to normal.
Compared with July 2007, work began on 30 percent fewer homes. Building permits, a sign of future construction, also fell in July, the Commerce Department reported. They were down 18 percent to a 937,000 annual pace.
Starts were projected to fall to a 960,000 annual pace, according to the median forecast of 77 economists polled by Bloomberg News. The median estimate for permits was 970,000.
`Pull Back'
``A recovery will not happen this year,'' said Russell Price, a senior economist at H&R Block Financial Advisors Inc. in Detroit. ``Not only are mortgage rates creeping up, but financing is becoming more difficult for a lot of people. Builders will continue to pull back.''
The 1.2 percent increase in producer prices from the previous month followed a 1.8 percent increase in June, the Labor Department said. So-called core prices that exclude fuel and food rose 0.7 percent after a 0.2 percent gain in June.
Prices paid to factories, farmers and other producers were forecast to rise 0.6 percent, according to the median of 77 forecasts. The core index was projected to advance 0.2 percent.
Fed's Fisher
``The recent burst of cost-push inflation is giving the beast digestion problems that might manifest themselves in the form of a lingering inflationary fever,'' Dallas Fed President Richard Fisher said in a speech in Aspen, Colorado, today.
Fed Chairman Ben S. Bernanke told U.S. lawmakers last month that officials ``continue to expect inflation to moderate in 2009 and 2010, as slower global growth leads to a cooling of commodity markets,'' while viewing the outlook ``as unusually uncertain.''
The jump in the producer price index reflected a surge in commodity costs that has since waned. At the same time, the acceleration in costs excluding food and fuel raises concern about a pass-through to consumer prices.
Producer prices are one of three monthly inflation gauges reported by the Labor Department. Import prices rose 1.7 percent in July and consumer prices increased 0.8 percent for the same period, the Labor Department said last week. Both figures were higher than estimated.
Construction of single-family homes fell 2.9 percent to a 641,000 rate, the fewest since January 1991, today's report showed. Work on multifamily homes, such as townhouses and apartment buildings, dropped 24 percent from the prior month to an annual rate of 324,000.
`Bad' News
``The news ahead for housing remains bad,'' Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. in New York, said in a Bloomberg Radio interview. ``There's a corrective process we have to get through here.''
The decrease in starts was led by a 30 percent decline in the Northeast. Construction fell 8.2 percent in both the South and West. Starts in the West slumped to a 26-year low. The Midwest showed a 10 percent gain.
The magnitude of the July drop in the Northeast reflected, in part, a payback from an unexpected surge the prior month. Starts and permits jumped in June as builders hurried to break ground ahead of new regulations in New York City's building code that took effect July 1.
Underneath the gyrations, demand is weakening. Sales of existing homes fell to a 10-year low in the second quarter, according to the National Association of Realtors. A third of all sales were foreclosures or ``short sales,'' in which lenders take a loss on a property.
Financing is also becoming tougher, a quarterly survey of banks by the Federal Reserve showed. Compared with the April survey, more of the loan officers polled reported they tightened standards on prime mortgage loans and on non-traditional loans.
Toll on Retailers
The slumping U.S. economy is taking its toll on retailers from luxury chain Saks Inc. to discounter Target Corp., reports showed today. Saks reported its largest quarterly loss in two years, while profit dropped for a fourth straight quarter at Target. Home Depot Inc., the biggest home improvement chain, posted its seventh sales decline in eight quarters.
Falling retailer earnings may signal that the U.S. economy will deteriorate further as consumers rein in spending to cope with rising unemployment and inflation. Home Depot Chief Executive Officer Frank Blake told analysts today he was ``cautious'' about consumer spending through mid-2009.
The five largest U.S. homebuilders reported a combined $1.08 billion in losses in their most recent quarters.
Builders are pessimistic as losses mount. The National Association of Home Builders/Wells Fargo's sentiment index yesterday showed optimism held at a record low in August for a second month.
I've said this for many moons that the final upshot of printing TRILLIONS to "bail out" the housing mess would be STAGFLATION. Growth is coming to a halt anyway, but our government in its infinite wisdom, has decided to liquify (think throw-in-blender) the US economy.
And another theme that I think will become even more important is The Marginalizing of The United States on the World platform. We will still be important. But we'll be like Great Britain. Flash in the Pan fuck-ups who royally screwed themselves.
What's the next shoe to drop? Credit Cards:
The next credit crunch
Our easy access to plastic is about to dry up - and with it our ability to fake living the good life.
By Geoff Colvin, senior editor at large
Last Updated: August 20, 2008: 1:15 PM EDT
(Fortune Magazine) -- We made it through the bursting of the Internet bubble and now the bursting of the real estate bubble. Next we may be approaching the end of the most worrisome bubble of all: the standard-of-living bubble.
That conclusion comes from the latest data on credit card debt. It's growing fast, but the problem is bigger than that - and to understand what it means, we have to take a few steps back.
For the past several years, the average inflation-adjusted total pay of American workers hasn't been increasing. That means we haven't been building a foundation for increases in our living standard. You might be tempted to say that by definition our living standard couldn't have increased, but that's not quite right. Even with stagnant real incomes, we can always live a little better every year through borrowing and pretending that our living standard is still rising, just as it was for decades.
So the Great Bull Market made us feel rich, and we felt justified in saving less and borrowing - and spending - more.
After stocks collapsed, home prices took off, making us feel rich all over again. So we continued saving less and spending more, creating the illusion that our living standard was still rising. In 2005 our personal savings rate went negative, but even that didn't slow us down, because our homes were still appreciating - and rising home values meant that household net worths weren't declining. (Don't be fooled by that saving-rate spike in this year's second quarter; it was probably a one-time event resulting from the federal stimulus payments.)
Of course, we don't hear those assurances anymore. Stocks are back where they were eight years ago, and home prices are where they were five years ago. But personal debt is much higher than ever before, and average pay is still going nowhere in real terms. So now how do we live as if our living standard is still rising?
End of easy money
That's where the credit card reports come in. Last year, just as the subprime crisis happened, credit card debt took off. The home-equity ATM had been shut down, so people turned to the last source of easy money they had left, the most expensive debt on the menu, credit card borrowing.
Since credit card debt has been growing much faster than the economy - more than 8% in last year's third and fourth quarters and over 7% in May (the most recent month reported)- people are apparently using it as a substitute for income. Thus, for the past year or so we have still maintained the standard-of-living illusion.
But a big crunch is coming - and here's why. Credit card debt, like mortgage debt, gets bundled, securitized, and sold off by banks. Citigroup (C, Fortune 500), one of America's largest credit card lenders, just reported that it lost $176 million in the second quarter through securitizing such debt. That happens when the buyers of those securities observe rising delinquency rates and rising interest rates, and decide the debt is worth less than Citi thought. More generally, the amount of credit card debt that is securitized nationwide has plunged by more than half in the past five months because it's getting riskier. That means credit card issuers will be charging customers higher interest rates, and since the banks can't offload as much of the debt as before, they'll have less money to lend to cardholders.
The squeeze has already started, which is why Congress is in the process of passing the Credit Cardholders' Bill of Rights, which would prevent issuers from changing rates and terms without warning, among many other provisions. But bottom line, the credit card money window is going to start closing - and soon.
So now what? It's hard to see where consumers can turn next. Home prices seem highly unlikely to start rising again soon. Stocks? You never know, but the Great Bull Market looks like a once-in-a-lifetime event. Homes and stocks are households' biggest asset classes by far. There isn't much else to borrow against.
It may be that the standard-of-living bubble finally has to deflate. Sustainable increases in living standards have to be earned, not borrowed, and that means performing ever higher value work that can't be outsourced. We haven't been meeting that challenge very well; doing so will probably require much more and better education for millions of Americans, which takes time and money.
The result may feel like deprivation, but I don't see it that way. Who knows - we might even find that living within our means and saving a little money actually isn't so bad.
I love that saying: FAKE LIVING THE GOOD LIFE.
Who does that remind you of? I know, "America". But WHICH AMERICANS?
Hmmm hm. Cali-Bangers. Cali-Bangers are living in the Biggest Meth Den in The World; California. A place where absolutely no one has a fucking clue what's really going on. The Cali-Banger will suffer a withdrawal so severe, that I actually believe many of them will WAKE UP WHITE PEEPUL and get the fuck outta there.
Again, you can be forgiven if you have come here from Cali: Lie prostrate on the ground groveling before every native Bendite and beg forgiveness for a hundred years of theft, rape, and murder. Do that and your men shall live. Do it not, and every one of you will die today.
Gat damn Braveheart! Well, anyway, you get the picture.
This country has been living some sort of credit-fueled dream, and it's about to become a nightmare. We ain't got the 36DDDDD's. We crack-ass ugly. We have been living a fantasy, and it will fall apart because all such things do. They must. We will either wake up or DIE.
Ask Jay Audia. You see Pollock KILLING himself over this shit? Fuck no, he's in MEXICO getting his 2" cock sucked by little boys. In Bend, once people wake up from the Cracker Nighmare, They fucking kill themselves.
Barriers To Exit are high in this Meth Den. YOUR MONEY OR YOUR LIFE. Those are the costs to get out.
Why are NO HOMES SELLING? Cuz they can't bring themselves to believe they are what they are. They believed the Grandmaster Pimp. They think they got the 36DDDD's. Everyone in Bend is an Olympic Athelete, right?
But ain't none of us Angelina Jolie. We just stupid Whitey. And until people wake up & CUT THEIR FUCKING PRICES IN HALF OR MORE, nothing will sell here. Just like no one really ever leaves whoring. They just take "breaks". Costs to exit are in your head, and that shit is hard to undo.
This is a town of HEDONISTS, because that is EXACTLY WHAT BEND MEDIA wants here. HEDONISTS will take the KOOL-AID, and not care what happens on The Back End. Even if it's losing everything. Hell, even if it's dying.
GROWTH: Funny thing how some things have Unintended Consequences. We started a War with Iraq, whose main consequence was enriching our enemies at a rate untold in history.
And the Growth Industry? Who knew it's primary byproduct is DEATH?
That's Bend. We reeled in every crack-addled hedonist for 1,000 miles and know we will either use them up so completely that they won't recognize themselves when they leave, or we will bury them.
Thanks Bend Media & Boss Hogg.
