I expect it will be something initiated by our Fearless Usefull Id.. err "Leader"
Nudge... nudge...
Posted on 10/21/2009 12:50:45 PM PDT by FromLori
Sounds like it to me.
These are truly remarkable words coming from inside the Fed. Reuters has the details: U.S. Federal Reserve Governor Kevin Warsh on Tuesday called gains in Asian and U.S. stocks noteworthy and wondered whether those increases signal a return to financial normality after a wrenching crisis or raise the prospects for asset bubbles. Stock markets in a number of Asian economies have posted hefty gains in recent months, Warsh said while moderating a panel at an Asia economic policy conference hosted by the San Francisco Federal Reserve.
"This is a remarkable move, certainly the U.S. has also seen a remarkable increase in asset values," he said This is as close to a warning as you are ever going to get from a Fed governor.
Irrational exuberance?
I am saying we are in for a downturn, even if he is not. Unemployment numbers oozing out today look awful, and commercial real estate is just now beginning to collapse. 1 in 4 houses in Florida is in foreclosure, and that is probably true for California. Wells Fargo got downgraded, etc.. I stated in a post yesterday that I look for a BG correction before October is over, and I am completely out of the market until the pullback finds a bottom. Also, the business channels pundits are beginning to show negative sentiment. The correction looms...
Is this why the market turned south at 3:20 eastern?
Lots of speculation from lots of different sources expecting anything from significant losses to a major crash.
There’s been tons of speculation all year that the market would crash again at the end of the year ... I believe it.
Harry Dent predicted this- market high up to 10,000 or so then a decline.
He sees Dow at 3800 or so by next year or 2011.
I went into cash and treasuries at 9800, now watching ...
Dent saw commercial real estate and commodities bubble both bursting next year
http://www.youtube.com/watch?v=e_JzAEzYLt4
I read on another thread that people should be investing in T Bills?
Him and Gerald Celente. I wonder what he has been saying lately.
Peter Schiff and Karl Denninger are also not-nattering nabobs of negativism. I stopped reading Denninger’s blog, too depressing.
Clearly something is up, but what ever it is for the Obama Administration especially if its bad will be unexpected. (sarc)
Asset bubbles are impossible because the Fed is all-knowing.
< / Bernanke Effect>
Maybe it is gonna crash, and maybe it isn’t but some Fed bureaucrat, even a Fed governor, doesn’t know anymore (and prolly less) than you or I or any one of numbers of “experts” in the private sector.
I don’t know.
Be careful what you do I would think it would all depend on a number of things unique to you rather then what you read on a thread.
Um hum you got it Ron
Celente bump
Who knows what the trigger will be, but once it is pulled, the bottom is going to fall out of the markets so fast that nobody is going to be able to react fast enough to stop it.
An abysmal Christmas shopping season will be the final dab of icing on the cake. January...
Denninger is reporting and blogging new and amazing information every single day, I believe he is a modern day Paul Revere and a genuine American hero for doing what he does.
Sometimes depressing but can’t miss reading. I basically feel like he is one of the last remaining truth tellers we have.
Remember this thread? Looks like our predictions were correct.
There are still more ‘bubbles’ that are on the verge of a burst. Americans are not buying Obama’s BS ... I say between Thanksgiving and Christmas. Face it, Biden was not very convincing about the 600K+ jobs ‘saved or created’ and he didn’t look very confident in his statements. On top of that, although it’s slight, the media is beginning to turn on zero. With Crap and Tax, Healthcare, Copenhagen on the horizon, the failed stimulus, the over-rated cash for clunkers, and fabricated jobs ‘saved or created’ there is not much that anyone can do to prevent this collapse. People will be looking for politicians to lynch and you mark my words Obama and his goons will run like hell into hiding. I expect them to be sought out with greater rigor than the pursuit of Bin Laden. Sh*t floats to the surface more sooner than later ... we are seeing that now with the BS zero’s been feeding us.
Monday is a new month and the Labor Department will likely be reporting that the National unemployment number has finally crept above 10%, and given the market’s reaction to the dose of reality about those GDP number and what they likely mean is in store for 4Qtr 2009 - 1Qtr 2010.
Retailers are already moaning about what a lousy Christmas shopping season it’s likely to be and there is nothing in the unemployment numbers that will offer them any relief.
Add the impending implosion of commercial real estate and yet another massive wave of foreclosures coming, and the Congress set to raise the US Debt limit another $2 Trillion (for a new “ceiling” of over $14 Trillion Dollars) and it’s hard to see how anything good can come of any of this.
God help those of you who have made no preparations for you or your family. If you have not started some kind of personal emergency survival plan you may very well be too late.
“God help those of you who have made no preparations for you or your family. If you have not started some kind of personal emergency survival plan you may very well be too late.”
Sorry forgot to post my comment.
What do you reccomend?
bump
Plus, is there not a massive tax increase coming Jan. 1 when Bush’s tax cuts expire?
“What do you reccomend?”
At this point I can’t make any recommendations to anyone who did not start their own preparations a long time ago. I think that we are approaching a number of events around the world that can and will directly affect our way of life here in the US, and could in fact result in large numbers of deaths around the World. One example would be an attack by Israel against Iran.
I think we the taxpayers have been the victims of the biggest financial ripoff in history, and when our financial system crashes it will take the Dollar down along with it. I cannot predict exactly when that crash will occur but I believe it will be soon. Any “money” that you think you have is in reality what the Bank tells you you can have. If the bank lost it’s computer system, then you effectively just lost all of your “money”, at least until the computers come back up.
I also believe that the bottom could fall out from under us all faster than we can react. I can imagine any number of scenarios that we are un-prepared as a Nation to face, and life in a refugee camp after a disaster of any kind is exactly what most people face. With the Government in debt over $12.4 Trillion Dollars, exactly where would any relief come from if a major disaster struck??
If all you have is half a tank of gas and the groceries in your kitchen cupboards, then God be with you.
mark
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