"A $550 BILLION ELECTRONIC RUN ON THE BANKS" (This Economic Meltdown Was Engineered, Folks!]

AtlasShrugs ^

[La Enchiladita]

Thank YOU. I’ve watched the vid twice already.

[April Lexington]

I agree. These are game changing times. I am amazed at the number of 401k peddlers still jabbering about "buy & hold."

As the winds change so changes the set of the sails. You'd think everyone would be in cash (market at o?) and only venture in for a bit of speculation from time to time. The market is above 8 because so many clueless people still have equity positions that could very well deteriorate within the year. Why have they not, at least, shifted into cash funds?

[aruanan]

More like the Chinese.

[wastoute]

mega bump 4 l8r

Μολὼν λάβε

[houeto]

Sounds like America to me. It is a strong possibility.

I've been saying that for over 20 years.

[faq]

Direct link to this article:

http://atlasshrugs2000.typepad.com/atlas_shrugs/2009/02/tight-before-the-election-of-president-hussein-an-electronic-run-on-the-banks.html

[antceecee]

This downturn is hurting them also... bigtime.

[EDINVA]

I’ve suspected Soros since Day One .. and while we’re invetigating, can we look into all those donations to the Obama campaign?

[Born Conservative]

Link: http://atlasshrugs2000.typepad.com/atlas_shrugs/2009/02/tight-before-the-election-of-president-hussein-an-electronic-run-on-the-banks.html

[longhorn too]

This is the scenario that I would like to see happen.

Mr. Jack Bauer meet George Soros ET AL!

[NVDave]

I’ve come to a conclusion after reading the “analysis” by a lot of these buy-n-hold preachers:

They really don’t understand the bigger picture of the economy. They really don’t. They keep pointing to all the recessions we’ve had since WWII, and they completely, utterly are incapable of saying “Yes, something like the Depression could happen again.”

But it was a couple of economists at the NBER who did a study of two dozen recessions/panics caused by finance sector failures who lay out the case for what is ahead of us: Another 15 to 20% down in housing prices, another 20% off in equities, and a 7% increase in unemployment, and at least six years’ recovery time - if we’re going to be smack-on the average.

Nothing we do is ‘average’ — we’re the statistical gorilla in the mist here — all the other nations that have been through large bank failures (including our 1930’s episode) involved far smaller economies, with much less coupling, little if any derivative exposure, etc.

About all I’m doing now are vertical spreads on ETF’s and dividend yielding stocks. I’m long some MLP’s like KMP that won’t go out of business anytime soon, because people in the northeast like to heat with something other than coal or wood.

[April Lexington]

I agree. You get the same old pitch..."the market is up 8% on average over the last 100 years." the problem is, your retirement may fall smack in the middle of a 20 down trend and you lose a good portion of your wealth. The market is cyclical and you need to catch the wave, to use a surfing metaphor. If your life cycle is out of sync with the market cycle, you lose. You would have been better off in CDs.

How may times have you seen "projections" where estate planners, et al use an 8% bench to project the value of a portfolio? A fool and his money are soon parted... Thanks.

[Nebr FAL owner]

Never happen as the GOP is to disorganized & to spineless to go after the rats in question . That is the greatest failing of the GOP a total lack of fighting spirit & bloodlust.

[okokie]

I agree. we are stocking up on essentials to be prepared for martial law when it happens.

[Jersey Republican Biker Chick]

A Conservative Revolution is on the horizon. One way or another we have to beat down these libs and socialists.

[madinmadtown]

Before the election I read that Soros had a lot of money in Lehman. In fact, there was some glee on this site that he had lost a lot of money and would not be able to throw so much money around in the election. So, if it was well-known that Soros was invested in Lehman, but assumed that he was one who lost money, not the one who caused their downfall...is that good cover or what? And why was Lehman allowed to fail when others weren't? Is it so that Lehman wouldn't have to go through the scrutiny of others are going through now?

[Freedom Dignity n Honor]

bump

[April Lexington]

Good questions, all. Soros tends to work in the shadows so no body is ever sure what happens to him. As for Lehman, it seems they were the sacrificial goat in all of this. Maybe Fuld acted too quickly. But, he didn't have much time. Payroll is the biggest draw on cash and stiffing his workers because he was out of cash or credit would have been equally a problem. In the end, the workers and the investors lost big time. The Government should have stepped in (now that the floodgates are open. The Bank of England or the British government could have helped also. I saw King's comments this morning where he blamed the UK meltdown on Lehman.

[April Lexington]

A Conservative Revolution is on the horizon. One way or another we have to beat down these libs and socialists.

Can't wait! We just have to convince the American Idol voters that they are better off being a conservative than a liberal. How do we do that? Or, after the Great Obama Depression of 2009-2012, maybe they will figure that out for themselves. Liberalism didn't do too well in the 1950's because of the first Great Depression and WW II.

[matt1234]

Great link. Thanks.