Jain Predicts Silicon Valley Housing to Fall another 60% or More

According to Jas Jain, the price of housing in the Silicon Valley of California has another 60 to 70% to fall.

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-------- Original Message --------

Subject:	Re: Deflation or depreciation?
Date:	Thu, 19 Nov 2009 06:51:30 -0800
From:	Jas Jain

FWIW, my forecast of ten years ago was: What we have witnessed in Detroit Area (high tech area of 1900s, 1910s and 1920s) for the past 20-30 years would be witnessed in Silly.con Valley, home to the clueless in America.

The fraud-based economy would disintegrate during the Greater Depression. Dopes in Silly.con Valley are complacent because they have been saved by various bubbles supported by debt, but that game always ends very badly. Housing prices in the Con Valley have 60-70% further to fall.

Jas

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> http://www.detnews.com/article/20091117/METRO/911170327/1411/METRO02/Silverdome-sale-price-disappoints
>
> Good grief, that's a negative 13.9% annualized return! Detroit just can't catch a break. I thought real estate always went up? What gives?
>
> Oh well, it's obviously an isolated event, just like Japan. That kind of thing could never happen in my hood. Besides, real estate is the foundation of our money supply. Bernanke would never let prices fall.
>
> All kidding aside, the massive deflation taking place in Detroit highlights the theft that finance has perpetrated against America. Detroit's losses are the gains of the inflation shufflers in NYC.

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Paul Krugman a Dope & Witchdoctor says Jas Jain

According to Jas Jain, Nobel Prize in economics winner Paul Krugman is not only a witchdoctor but a "born-and-bred American dope."

-------- Original Message --------

Subject:	EXPOSING Witchdoctor Krugman
Date:	Fri, 13 Nov 2009 08:50:03 -0800
From:	Jas Jain

Thomas Farley said...

As I'm sure many have noticed, Krugman was deriding German "obstructiveness" and "boneheadedness" last December when attacking their response to the recession.

Today, he thinks they're a role model.

Last year he said to "hold your nose" and support the TARP, this year he laments that banker-friendly bailouts are unpopular with voters.

I think it would be useful if he showed his readers how he gets from one view to another and how they are reconciled. As it stands, it just looks like a weather report on which way the wind is blowing.

http://krugman.blogs.nytimes.com/2008/12/11/the-economic-consequences-of-herr-steinbrueck/

http://economistsview.typepad.com/economistsview/2009/11/paul-krugman-free-to-lose.html#comments

-x-x-x-x-x-x-

Vow! I had dinner with a friend over the weekend and he said that Krugman seems very smart but he can’t understand Krugman’s views.

The most important thing to note is that Paul Krugman is a born-and-bred American dope, in the area of economics!, first and anything else, e.g., Nobel Prize winner in economics, after that. Being a born-and-bred America dope trumps all other accomplishments when it comes to understanding the American econo-political system. This handicap is very hard to overcome. Other born-and-bred American dopes (among economists) in the area of economics that have done lot of harm are--Bernanke, Greenspan and Summers.

Jas