Posted on 09/15/2008 1:16:57 PM PDT by illiac
Starting? Where have you been? Dominos have been falling for some time now.
“Merril Lynch manages a couple times six figures of my 401K plan.”
...we’re in the same boat my friend....we get a monthly statements from a guy we’ve never met....a scrap of paper....and what does he have?....well, he gets scraps of paper ftom some other guy....it’s starting to look to me like one big circle jerk to me.
Yet if gas can be found, it’s over $4 a gallon. I’m confused.
>>I hate to say this. but you are full of it. I hope nobody from Wall Street is reading your garbage. The last thing we need is more panic right now.<<
Yeah, I was full of it in April of 2006 when I said we were headed for a SERIOUS housing/credit meltdown.
A lot of us said that and were accused of “doom and gloom”. But some of us recognise a tulip bulb when we see one.
Time will tell.
On second thought, it already has...
Good. Christmas is way too commercialized.
Yes, and raise interest rates, bring in millions more illegal aliens, expand government and ship more jobs overseas.
That ought to do it!
I'm afraid sampling freebies they got out this week is going to make me upgrade my subscription though. No problem, the money I just made from interest bearing accounts (on their advice) will cover it.
I told my wife this morning that the day I have been predicting for just over two years appears to be today.
I expected this thing to look a bit like a parabolic curve and at some point it would hit that “everybody knows now” phase.
This may be it, but we’ll see how it plays out. I almost wish it were for the simple reason that the sooner this nonsense is exposed for what it is, the lighter the impact and the sooner we can move on. The higher the rocket goes, the farther it has to crash - and the greater the pain.
It’s already gonna hurt like he!!.
It has become increasingly clear that “Wall Street” - the Liberal New York-based brokerage houses - have increasingly over recent decades NOT served and NOT represented “main street” - the U.S. companies that actually DO SOMETHING.
“Wall Street” is fickle, myopic, the greediest of the greedy, short-term key-hole thinkers, churners of sales transactions one week and buys for the same company the next week because stock transactions, not the health of main street, is what “Wall Street” exists for. “Wall Street” is as much to blame for the Freddie/Fannie debacle because the private-profit/taxpayer-risk model of Freddie/Fannie was in fact a darling of “Wall Street”.
When Paulson announced HOW the treasury would “rescue” Freddie/Fannie it became clear the stock holders of regular Freddie/Fannie stock WOULD NOT be made whole, which doomed the rest of Lehman’s shaky balance sheet, which held millions of Freddie/Fannie stock.
We need enough major companies with enough real capital to form a consortium, buy the New York Stock exchange ,take it private and move it, and “Wall Street”, out of New York; after a while they can recoup their investment with a new IPO.
I’m kinda with you on that one. An entire industry has been built up around it.
Ah, no problem. Our pleasure.
Wait, you're saying deregulation is bad?
In seattle, my station has gone from a high of $4.29 to a current price of $3.58.
That is a significant drop in my opinion. I think it’ll go a lot lower.
>>This is a major opportunity..<<
With that I firmly agree.
We in the south are getting killed. Thursday it was $3.59 - today $4.29 and higher, if they have gas.
Free trade’s got nothing to do with it. A couple million stupid loans made this mess.
I don’t think it is a doom and gloomer thing really. I see this market as a HUGE downside opportunity. Pointing out a bad reality is not being a doom and gloomer. It is being a realist. Once someone recognizes reality they can then work with it. Putting your head in the sand is not a good thing.
Panic is not what causes the problem. Panic is what happens to people who did not see it coming, after it gets here.
>>This isnt 1929.<<
So true. That one was stock related. This one is credit/real estate related. It could be much worse.
It was a pretty bad sign when they ceased publishing M3. Even though there are other estimates that amount to the same thing.
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