Housing Bubble (Download the song on iTunes!)

[sha370z]

uploaded jan 21 2008 . Bear stock when down Mar 10 2008 around 11:00 clock

bear said they was OK . then the fed step in said to big to fail

bear had made bets on the housing market worth hundred of billions of dollars on wall street and

around the world

[SardinAyam]

Bubble mmg bg trouble...Hahaha

[DisheveledSuccess]

@davegirlsman This video expanded my mind!

[spectrum2000now]

Nice music. Getting a home, 1st thing to consider is your budget and capability of paying a mortgage.

[ifginc]

Live in your very own home, get easy mortgage from IFG,Inc...

[BeantownJim]

good vid

[volodomd]

cool, but of course unfortunate

[markbradleyvideos]

I am thankful to have seen this video. Great one! thank you and keep up the good work!

[jeffmonc]

Yeh that's the next question what happens when inflation forces the ARM mortgage payments sky high. Or people must refinance their 40 year mortgages at 20% up from 4% and the payments become huge? I think we are just seeing the start - no more bailouts for reckless banks.

[SuperSokke]

Hey! does anybody have the lyrics for this song? I have to teach an economy class to kids in a few days and I would really like to use this song.

[tickyul]

When greedy, materialistic Americans wake up on Jan 2, 2006 groggy,sick and bloated from an orgiastic spending binge they will have a lot to worry about. Major economic indicators are pointing toward a real messy time for the greedy ole USA. At the top of the list in the near term is a MAJOR correction in the housing market, this will have a ripple effect in many american sectors. So go ahead refinance your house so you can pull the equity out of it and buy your stoopid kids Bratz wigger dolls.

[TheFrenchers]

very nice work!!!! check out "money makes you crazy" on youtube, Username: TheFrenchers.

[BeantownJim]

ACORN! Fannie/Freddie Affirmative Action Bamkoing? AIG ? Sachs?

[MsZippity]

@BeantownJim Fox is not a news channel. It's a brainwashing, public propaganda machine.

[thegenies]

Speaking of bubbles :) Dave, it took me a while to understand that this bubble, just like the others, was only an artificial reservoir for dollars flowing back from China, India, etc. The price of uncontrollable globalization and cheap t-shirts from Wal-Mart got a little too high ;) May I say the country was almost sold out for the cheap Chinese import. Hopefully we still have time to slow it down if not fix....

-Andre

[54spiritedwill54]

such a good song and video xD

[cray0308]

the system gets you no matter which way you turn. only way out - dont play their game.

[interFUELweb]

Awesome!

[jamnospam]

Great clip! The message is spot-on and the cartoon illustrates the housing bubble in a simple and effective manner. Very creative. The music is catchy too. Thanks for making this!

[rashinx]

waoooo thats was amazing¡¡¡¡¡¡¡ so great

[Rizky06]

Excellent!!

[HappybugPopcorn]

Nice work!

[tomfrog64]

great !!

[ConservativeNRA]

I still LOVE this. We all need to watch this at least once a week so we won't forget. This will remind us that the BAILOUT is from the same group who got us in this mess...

[LibsRScum]

Correct. It's what liberals do: create a crisis and then offer a 'solution' that always involves loss of freedom and the fruits of your labors. IOW, they'll break both your legs and then offer you a 'free' pair of crutches.

History shows that Democrats have always been for slavery - they're just really, really good at calling it something else and getting everyone to go along with it.

[ConservativeNRA]

Thanks LibsR, I Agree, we need to keep spreading the TRUTH so those who are SLEEPING my wake up and take NOTICE !!!

[tokenliberal11]

Out of genuine curiosity, what's YOUR take on why civilian gun ownership makes us safer?

[ConservativeNRA]

thanks for asking.. I believe it does for the simple fact that if crimimals believe that there is even a  chance the victim has a gun or a weapon, they will avoid them.. wouldn't you? Of course, I would like to see the civilians trained properly..

[tokenliberal11]

Touche, sir, touche. I agree with you that civilian ownership of firearms might act as a psychological deterrent to crime, but what concerns me, as it does you, is the disproportionate number of accidental gun deaths that result from the dearth of civilian training. I'm also concerned about the suicide rate. I understand the argument that if someone wants to commit suicide, they'll find a way, but I think a study released by the CDC established that suicide attempts with guns are 75% more

[tokenliberal11]

"successful" than other means, so a lot of temporarily depressed teenagers don't get a second chance at life. Your thoughts?

[ConservativeNRA]

This certainly is VERY sad..

One thing I've learned in life is the only one you can control in this life is "yourself". Few people are taught by their parents or adults that you don't have to try to control others around you to make you happy, just yourself...

Of course I would prefer that we never have to ever defend our lives against anyone...

I would prefer stun guns to other weapons, unless the "Teenagers" have real guns..

[tokenliberal11]

Don't forget that the Federal Reserve cut interest rates after 9/11... and Bush wanted to cut them even lower, but Greenspan basically overruled him as fed chair. Let's be clear: the entire housing bubble started with interest rates being slashed in 2000/2001 in response to a mild recession. Just like the 9/11 attacks, not ALL the blame rests with the Clinton Administration. You might want to consider changing your sn- Ted Kennedy, JFK, RFK, John Kerry, Jim Webb... these guys are scum?

[junechris]

Your'e exactly right, plus you cannot blame a housing (bubble) on having just lent bad loans to a certain percentage of people just trying to buy a home, and have a outlet to do so. Even People from other countries were adding to the problem, not to mention people using real estate for a investment tool, rather than a place to live. I.E. Flipping houses.

[payaza2002]

The blame also goes on Bush for example laxing regulations

[ConservativeNRA]

I have to agree with my Tokenliberal friend, both parties are to blame for this housing bubble and more.. THE FED!!! see youtube video re: Alan Greenspan Admits the Fed is above the law... WOW

[tokenliberal11]

I disagree with John McCain. I disagree with Lindsey Graham. I disagree with John Boehner and Mike McConnell, but these men aren't SCUM.

[laplace977]

that's lovely !!!!!!!!!

up with you

[Kibblesmith]

Thanks for the comment, I like this piece a lot.

[Kibblesmith]

School House Folk.

[chubbyhen2]

so.. is housing bubble means that the value of homes is increasing ??

[509889]

politicians are revolutionary nutjobs

they have supertaxed housing and land

to the point people had to resort to crowded

apartment buildings which is where disease

epidemics start, crowded apartment buildings are the #1 places where disease epidemics such as influenza SARS and clostridium difficile spread, this illness spreading

wouldn't happen if government stopped taxing land and imposing inflation on housing and just removed housing from the stock market once and for all.

[HempForPresident]

To answer your question directly, it has been estimated that it will cost over $1 trillion total including caring for our veterans after the war with the hundreds of thousands of wounded and psychologically traumatized youths coming back. Plus add to that the cost of these private contractors who lose piles of cash large enough to see from space. Real money, not digital. We're losing this war, and I'm not talking about Iraq. The war on the middle class.

Go to thomhartmann(dot)com

[HempForPresident]

Our economy is failing because we don't produce anything of value in this country anymore. We've gotten rid of our protectionist import tarrifs and now the Chinese (who are still protectionist... try selling a foreign car there) have flooded our market with cheap labor and environmental destruction. "American" corporations have moved off shores and now only pay about 25% of the total Federal Taxes every year. Meanwhile they use our commons to make money: roads, schools, water, airwaves, etc.

[georgewu5]

H: How much money spent in the Iraq war every day? for how many years already?---dancewu(dot)net

[HempForPresident]

you've hit on a good point there. The problem is that no money has actually been spent, according to our Federal Budget. The money is coming, for the most part, from loans from China and Saudi Arabia. The world is catching on to our phantom money. The dollar is set to crash soon and it's because of our lack of tariffs.

[georgewu5]

H: Sun Tzu Art of War: " ...for there has never been a protracted (prolonged)war which benefited a country..."---Five years into a war is far too long to drag even a country as wealthy as the U.S. down to the drain! But that was what the former secretary of defense and his right hand man wanted to have the troops staying in the Middle-East to protect Israel forever!---dancewu(dot)net

[Frozenphilx]

You're incorrect.

Tariffs are inefficient and never "protectionist".

Just do a simple Econ101 Consumer/Producer Surplus comparison to pre/post-tariff total surplus.

Jobs move oversees because those countries have a lower opportunity cost of producing those goods. It's inefficient for us to keep producing those goods.

[lilhourigan]

politicians want to govern peoples lives and enslave them through taxation and inflation. politicians cant govern you if they cant enslave you. A Politician free society is where real freedom starts!

[ourearthhome]

Did you ever see the value of a house appreciate as long as the supply kept increasing? Nope, simple supply and demand applies. More supply lowers the cost. These folks would have us believe that this is about the "houses" but instead it is about the land underneath the houses. It is land value that has been driven up speculatively and it is that value that has peaked and is going back down. The economics of land is no longer taught because it is not in the interests of the big landowners. Duh.

[lilhourigan]

duh back at ya! the ones who rise the cost of land and homes are the ones who FUCKING OWN THEM! BANKS own the homes and political GOVERNMENT owns the land, these 2 mafias work on the same team and with wallstreet so that you never own the home nor the land, stop paying the political mafia taxes and you lose the land and the home EVEN OF ITS PAiD IN FULL. Only those who own tax free land actually own homes and the land! only natives have freedom AND OWN ANYTHING.

[ourearthhome]

lilhourigan: The fact that banks have claims against property because of loans made and because governments tax anything and everything means that they in effect own these things at least in part. The question is what if anything should governments be allowed to tax and therefore own. Certainly our earned incomes from labor and capital investment should be free of taxation. Land value which is completely unearned because created by all of us thus giving rise to land speculation should be taxed.

[lilhourigan]

i disagree with you, i will always support the fact land should not be taxed under any circumstance, because it forbids true citizen ownership and enables and empowers political government to own what it pleases, so it hinders peoples right to own land and negates privilege, thus causing societal dependence restraint and homelessness.

[lucidgenius88]

you cant be governed to freedom and you cant be taxed to prosperity

[lucidgenius88]

american politics wont even allow american peOple the freedom to own tax free land, so that they can send citizens to the gutter through inflation and tax rise! the only free poeple are the ones who dont pay property tax! yes natives! they have all the services and no tax! WHILE WE GET ENSLAVED INTO POVERTY HOMELESSNESS AND DISGRACE! NO SUCH THING AS APPARTMENT BUILDINGS ON NATIVE RESERVES! THATS TRUE FREEDOM! NOT THAT FAKE SHIT DEMOCRACY THEY FILL YOUR ASS WITH on tv

[lucidgenius88]

POLITICIANS are the crib of the economic engine and are responsible for all rises in inflation all reforms and vetos and revolts and societal poverty! presidents are the ones responsible negating property rights through legalised extortion such as rising taxes rising home costs (when wallstreet can) all forms of cost inflation and rising costs is politicaly engineered! dont be swayed by lies

and bullshit on CNN trying to render innocent politics from the societal collapsing effects it creates

[DontTapGlass]

1. HISPANIC POPULATION BOOM (they GROW at more than 7% and will need to live somewhere)

2. SIDELINE MONEY WILL POUR IN IF IT GETS LOW ENOUGH.

SORRY GUYS BUT LONG TERM ITS STILL A GOOD INVESTMENT SO STOP HATING.

[chargermopar]

I am curious to know the process used to animate the drawings in this video.

[crybaby46]

I animated it in flash. Real sketchy, didn't clean up the line work. i wanted it to feel real simple and silly. plus the cong is colorful enough on it's own. =)

[peterscottfrost]

I found this video several weeks ago, but I have this song going through my head all the time recently! :D

[showmerightnow]

Found you via HousingPanic, Keith's site. Classic! Well done!

[icantfindanamethis]

it might have been wiser to search china for wmds. when the chinese are forced to pull the pin on the dollar peg bomb the dollar will collapse faster than the twin towers did and kill a lot more people

[streiinbaun]

housing inflation booms serve snakeblodded profitors, but it makes the rest of the middle class in the market for a place to live homeless because inflation also causes rent hikes. Wich is more proof that economic growth is the root cause of poverty. Growth creates jobs, but life essentials such as housing gradualy (among other things) become unfordable to everyone, so the jobs are of little use to the worker and are basicaly a path to major societal slaveries of all sorts.

[largo2001]

Growth does NOT cause inflation.

Increase in MONEY SUPPLY creates inflation.

[streiinbaun]

this fight about tax free land ,the freedom to own tax free land. if you pay the same old extortion taxes on land you dont own it stop paying taxes to the gov mafia and the lands gone, we still live in the days of kings and queens where we commoners have to give money to the king! fuck this extortion, fuck presidents kings and queens were not fucking bees were human beings and we have the right to own tax free land! OUR LAND.

[YiuTeub]

AWESOME. Its true. Ours in Saskatoon Canada is at 245K, last year 140K. Im not taking equity on it. Thats a fantasy world. Getting money for nothing. NOTHING and I mean NOTHING stays high. People are run by banks. Hell I got a mortgage but I am not going into more debt because they say I can. Remember this people....... majority of people are stupid, now how can I profit from it. That is a banks thinking!!

[notu286]

I found your link in this story about you and this morgage mess.

[musicxz]

Loved it.. Says it all, and well too. Dave sounds like a good guy. Loved the song, con't get it out of my mind

[ofInterestNZ]

the housing bubble is obviously at hits bursting stage if you look at recent auction results. The Sunday Star Times watched 21 house auctions in the last week and found that not one of them sold at auction. None of them even sold after the auction and many of them didn't receive any bids at all.

Just 30 % of homes are selling at auction these days. That's half the rate from a year ago.

[jimmymal]

That was a great video

[00643981]

Bankers have conned us all. We built this country, only to find out that we can't afford to buy what we have created with our own hands because we are forced to use a money system that is corrupt by design. WHAT A SCAM. To understand how this system is works to steal property from you and me and hand it over to the bankers, see Google Video: Money as Debt - Fiat Empire - Monopoly Men - The Money Masters - Freedom to Fascism - Zeitgeist.

[modelmark]

The bankers might have fooled us, but who forced us to use their money ? It's worth reflecting who puts a gun to your head and forces you like a slave.

1 in 100 adult Americans in jail, Pew research

[lastnymleft]

Wait'll they re-start "debtors prisons", and start making you work DIRECTLY for them to pay off your debt!

[modelmark]

The violence will remain to come from the state. Of course I think it is a good thing that people pay off their debts, but the reason they went into debt so deep, was the enormous monetary inflation, that caused buying a house or stocks to be a 'sure thing'. This inflation was possible, because the law (violence) requires you to use their money. People do not naturally make such big mistakes, it's a consequence of inflation, made possible by force.

[Mrhuh]

Read some works by the great Austrian Economists such as Ludwig von Mises, Murray N. Rothbard, and of course, Ron Paul for some other great works on the destructive nature of central banks.

[jcornale]

@Mrhuh Ludwig von Mises was absolutely TORN APART by The Economist for his book he wrote in the mid-20th century. It is hard to find a mainstream, legitimate economist who buys into "the destructive nature of central banks." Spoken like someone who has no degree in economics.

[bgtop9962]

@jcornale

and the Economist is a criterium for you;) porr stupid.

Look what really has happened - see who followed von Mises and von Hayek - Reagan, Thatcher, Ludwig Erhard. Germany until now keeps to this school.

Who do you prefer - Keynes or Friedman?

[bgtop9962]

@Mrhuh

Germany was reconstructed on the economics of Ludwig von Mises and August von Hayek. von Hayek was a close friend and adviser of Ludwig Erhard - the financial minister and later chancellor who led the reconstruction of Germany after world war 2.

Their adversaries are Keynes (spend the money of the tax payer) and Friedman (let the money printer run).

The Austrians put it simple - to spend you have to earn first.

[braunsteiin]

To this day mankind does not have the freedom nor the human right to own tax free land! you cant be taxed to prosperity! and you cant be governed freedom! PLZ Fight for tax free land if you can! 2gether we can stop the extortion! this message is of no political bias! this fight is independent! Tax free land is land no liberal goverment and no eminent domain cant take away from you, its land wallstreet cant price inflate you off of! plz act now!

[chargermopar]

What can we do to get the corrupt Government to stop leasing the land to us?

[Liine112]

god , such a good song and video xD

[Snarfbargler]

Nicely done Dave. Gread vid!

[lennyfest]

BE SMART DONT BUY NOW.If you buy now, you will find a house like the one you bought for $100K or more less than what you paid. You effectively will be catching a falling knife and become instantly underwater on your mortgage! Imagine going to the bank and asking, "I'd like to open an account for minus (-)$100K". After years of deposits adding up to $100K you will have $0 in the account. Silly isn't it? Well that is exactly what you will be doing if you bought a house right now.

[atakmim]

The boat sink, water will have to all ;)

[atakmim]

Don't panic! It's all under control!

;)

[NVMojo]

it's funny how greed makes people lose their common sense

[kmc100]

Sadly,truthfully, very funny...

[hoehoealexio]

its the same as a mafia movie dont pay the corner mob & they make you dissapear! democracy regimes negate property rights, democracy negates the freedom of being able to have a place to live. democracy and (so called) libertarianism are in reality the hugest tyrany and poverty causing totalitarian systems in existence democracy regimes negate quality of life in general. just a bunch of fake liberty masks to hide the criminal tyrants behind the doings. Land of the dumb, home of the tyrants.

[zeriouslee]

Yeah, no kidding. Just last week a friend said he hoped one day to live in Cuba, Iran, Russia, or Pakistan. Democracy sucks!

[hoehoealexio]

indian natives dont pay tax and still have services yet we americans dont even have the freedom to own tax free land without being extorted by political mafias at city hall all the way to the white house. taxing land citizens have already paid for is extortion , its fraud and its illegal, who gave political

mobs the criminal right to extort cash from citizens on a yearly and rising basis to drive people out of their homes.

[Boberelli]

Indeed, if you were to start a social security system like the feds do, you'd be locked up for running a pyramid scam!!!

[ccie9716]

Are you trying to blame the government for individuals buying houses they couldn't possibly afford? Ok, let's say the government stepped in and prevented all these people from buying those over-priced houses through strict regulation during the run-up.  Then you would have said the government is oppressing people by not allowing them to buy into the American Dream. If you treat houses like stocks they are going to act like stocks. We're seeing it now.

[hoehoealexio]

Well, inflation actually IS the suppression of the american dream, and goverment IS the one stepping in to supress home owning, inflation not only prevents people from getting a home its the cause of poverty and low quality living because its also imposed on goods deemed crucial human necesities. Government opresses and negates home owning and prosperity, but liberates conflict nomadism and racism just to name a few.

[328805]

AAAAAHAHAHAHAHA!!! this is cool.

[ccie9716]

I can't get enough of this. It has School House Rock feel.

[davegirtsman]

Thanks! I'm glad you are enjoying it! Subject matter is a bit sad though..

[ccie9716]

Its all depends on perspective. Price declines are bad for some but GREAT for others. I'd like to own a house but no way am I getting into it with today's prices. I'll buy when real estate doesn't make any headlines good or bad. I nice, boring market (healthy) is what I want to see first.

[davegirtsman]

I'm right there with you! I can't afford to buy in my own hometown either....I'll just sit back and wait!

[lennyfest]

If you buy now, you will find a house like the one you bought for $100K or more less than what you paid. You effectively will be catching a falling knife and become instantly underwater on your mortgage! Imagine going to the bank and asking, "I'd like to open an account for minus (-)$100K". After years of deposits adding up to $100K you will have $0 in the account. Silly isn't it? Well that is exactly what you will be doing if you bought a house right now

[ccie9716]

Beautiful!

[Boberelli]

I suppose you were not affected? I'm on the street from my ARM!!!!

[ccie9716]

Bought in 2004, realized the fit was going to hit the shan and sold in 2006. Took 6 months to sell and I just squeaked by. I broke even at closing. I guess when you figure in realtor fees I lost money but it didn't "feel" like a loss. It actually felt great to get out. So I say bring on the price declines. I really would like to own a house again someday but not at these prices.

[kiet619]

hahahaha....this is fucked up housing market.

[louaish88]

It would be funny if it wasn't the bellwether to our next recession. ;-)

[louishcom]

nice

[toastyalbus]

Hahah, that's awesome!

[crybaby46]

Nice animation...teehee.