We fall below 10K (maybe tomorrow depending on jobs #, maybe Mon or Tues like KOAJ alluded to), talking heads call a market bottom, we rally back up to 11K ish through the end of the year and then we plunge to 8K ish sometime early next year.
Alright, I think I have everything figured out
We fall below 10K (maybe tomorrow depending on jobs #, maybe Mon or Tues like KOAJ alluded to), talking heads call a market bottom, we rally back up to 11K ish through the end of the year and then we plunge to 8K ish sometime early next year.
Smartest thing I have done this year, maybe in my entire sorry ass life, was sell EVERYTHING and go all cash (except for "trading" this past Janurary.
No joke, guys and gals, we have a slight chance to be headed for a road warrior society in the future. Warlords and fiefdoms. No joke.
Let's face it, there are no bailout packages that can save us from our greed and lies. Time to just let the bad go caput, and then just pick up what's little left of the pieces......whenever that is.
Let's also face this.....the ONLY thing "positive" for the future is the rampant pessimism, but I believe that this time "the public" is right. We may have some sort of countertrend mularkey "rally" for a few years, but about 5-7 years from now, when the tab for all these stupid bailout packages falls due......."Katy bar the door."
Warlords and fiefdoms...just like in the dark ages....
We have no one but ourselves to blame.
One real quick question before you hang yourself Mad Max......can I come over and get all the shit you don't want once you leave for the other side.
Damn man, the drama is a bit much. I understand your pessimism but it's way overdone. Throwing dirt clods at each other and writing on cave walls with sticks is just a bit overdone, don't you think?
Quote Originally Posted by claycourtlesson:
The USA and the "global" financial markets.
Smartest thing I have done this year, maybe in my entire sorry ass life, was sell EVERYTHING and go all cash (except for "trading" this past Janurary.
No joke, guys and gals, we have a slight chance to be headed for a road warrior society in the future. Warlords and fiefdoms. No joke.
Let's face it, there are no bailout packages that can save us from our greed and lies. Time to just let the bad go caput, and then just pick up what's little left of the pieces......whenever that is.
Let's also face this.....the ONLY thing "positive" for the future is the rampant pessimism, but I believe that this time "the public" is right. We may have some sort of countertrend mularkey "rally" for a few years, but about 5-7 years from now, when the tab for all these stupid bailout packages falls due......."Katy bar the door."
Warlords and fiefdoms...just like in the dark ages....
We have no one but ourselves to blame.
One real quick question before you hang yourself Mad Max......can I come over and get all the shit you don't want once you leave for the other side.
Damn man, the drama is a bit much. I understand your pessimism but it's way overdone. Throwing dirt clods at each other and writing on cave walls with sticks is just a bit overdone, don't you think?
There is some post I did back in early spring about C going 10-12ish.
I'll try to find it.
I recall it, and the ensuing debate of whether it was plausible...
When people literally cannot imagine something occurring, that is when it occurs, and I am not simply referring to economic expectations. The 20th century was a century of the unimaginable occurring.
Who could imagine Auschwitz? Only a failed water colorist from Austria...
Nothing indicates the 21st century will be an exception to the rule.
Quote Originally Posted by claycourtlesson:
There is some post I did back in early spring about C going 10-12ish.
I'll try to find it.
I recall it, and the ensuing debate of whether it was plausible...
When people literally cannot imagine something occurring, that is when it occurs, and I am not simply referring to economic expectations. The 20th century was a century of the unimaginable occurring.
Who could imagine Auschwitz? Only a failed water colorist from Austria...
Nothing indicates the 21st century will be an exception to the rule.
Smartest thing I have done this year, maybe in my entire sorry ass life, was sell EVERYTHING and go all cash (except for "trading" this past Janurary.
No joke, guys and gals, we have a slight chance to be headed for a road warrior society in the future. Warlords and fiefdoms. No joke.
Let's face it, there are no bailout packages that can save us from our greed and lies. Time to just let the bad go caput, and then just pick up what's little left of the pieces......whenever that is.
Let's also face this.....the ONLY thing "positive" for the future is the rampant pessimism, but I believe that this time "the public" is right. We may have some sort of countertrend mularkey "rally" for a few years, but about 5-7 years from now, when the tab for all these stupid bailout packages falls due......."Katy bar the door."
Warlords and fiefdoms...just like in the dark ages....
We have no one but ourselves to blame.
\
Clay:
I did the same thing a little over a year ago [go all cash] minus a few option plays (representing 10 - 15% of my portfolio) and thank gosh I did! 6 months ago I put everything into a 3.29% liquid asset fund (100% cash; no risk). I saw the writing on the walls when the hosuing markets kept plummeting and everytime I turned on CNBC finnerman (that lady on fast money) kept saying she was short on LEH (no joke; i'm sure she lost her ass but she was right on that play!).
My IRA is in a fund that is 65% bonds, 24% diversified stocks, and the rest cash! LUCKY for me! It was up 9.5% in three months as of yesterday.
It's not exciting or fun being in cash and boring bonds as such but in times like this I thanks my lucky stars!! As long as FDIC does not fail I am golden!
Still very sad times in this country and very sobering all the people losing jobs, houses, and shit! Really Really sad!!!
Quote Originally Posted by claycourtlesson:
The USA and the "global" financial markets.
Smartest thing I have done this year, maybe in my entire sorry ass life, was sell EVERYTHING and go all cash (except for "trading" this past Janurary.
No joke, guys and gals, we have a slight chance to be headed for a road warrior society in the future. Warlords and fiefdoms. No joke.
Let's face it, there are no bailout packages that can save us from our greed and lies. Time to just let the bad go caput, and then just pick up what's little left of the pieces......whenever that is.
Let's also face this.....the ONLY thing "positive" for the future is the rampant pessimism, but I believe that this time "the public" is right. We may have some sort of countertrend mularkey "rally" for a few years, but about 5-7 years from now, when the tab for all these stupid bailout packages falls due......."Katy bar the door."
Warlords and fiefdoms...just like in the dark ages....
We have no one but ourselves to blame.
\
Clay:
I did the same thing a little over a year ago [go all cash] minus a few option plays (representing 10 - 15% of my portfolio) and thank gosh I did! 6 months ago I put everything into a 3.29% liquid asset fund (100% cash; no risk). I saw the writing on the walls when the hosuing markets kept plummeting and everytime I turned on CNBC finnerman (that lady on fast money) kept saying she was short on LEH (no joke; i'm sure she lost her ass but she was right on that play!).
My IRA is in a fund that is 65% bonds, 24% diversified stocks, and the rest cash! LUCKY for me! It was up 9.5% in three months as of yesterday.
It's not exciting or fun being in cash and boring bonds as such but in times like this I thanks my lucky stars!! As long as FDIC does not fail I am golden!
Still very sad times in this country and very sobering all the people losing jobs, houses, and shit! Really Really sad!!!
Laying all jokes aside, man, the only thing really "positive" about the current state of the financial markets IS the rampant pessimism.
Yeah, when peeps make statements about "The Dark Ages," it is usally time to get long. I hope so.
That being said, though, where are the proper underpinnings for a solid economic foundation that can make any market upmove sustainable? Right. There aren't any.
Oh yeah, for sure, man, we could get a MASSIVE short covering countertrend "rally" the next few months, but that's all it is------short covering. As you know, I am sure, the most vicious rallies of all are short covering in a bear market.
There's just no reason to be exuberant about the financial markets right now. Hey, I wish I were wrong, but I am not, unfortunately.
Diver, Vermeer----
ACC-
Laying all jokes aside, man, the only thing really "positive" about the current state of the financial markets IS the rampant pessimism.
Yeah, when peeps make statements about "The Dark Ages," it is usally time to get long. I hope so.
That being said, though, where are the proper underpinnings for a solid economic foundation that can make any market upmove sustainable? Right. There aren't any.
Oh yeah, for sure, man, we could get a MASSIVE short covering countertrend "rally" the next few months, but that's all it is------short covering. As you know, I am sure, the most vicious rallies of all are short covering in a bear market.
There's just no reason to be exuberant about the financial markets right now. Hey, I wish I were wrong, but I am not, unfortunately.
All is well after today....see I told you so......lol.
All joking aside, I respect the hell out of your opinion. I also hope you are wrong, way wrong. I do see your point and think there is alot of dsyfunction in the financial market right now. I do not see things falling aprt completely and am LOVING the volatility right now. I am up over 100% in seven days in my account scalping options.
Let's hope this owrks it's way out over time. I think the government needs to back the fuck off and let natural selection take over.
claycourt-
All is well after today....see I told you so......lol.
All joking aside, I respect the hell out of your opinion. I also hope you are wrong, way wrong. I do see your point and think there is alot of dsyfunction in the financial market right now. I do not see things falling aprt completely and am LOVING the volatility right now. I am up over 100% in seven days in my account scalping options.
Let's hope this owrks it's way out over time. I think the government needs to back the fuck off and let natural selection take over.
Yo, commoner! Get ready to get stuck again, this time cleaning up the toxic housing-related bad debt that’s taking down the banks.
Alan Greenspan, Paul Volcker, Barney Frank and others want to create something along the lines of the Resolution Trust Corp., a public boondoggle created during the fabled savings and loan “crisis” in the late 1980s. “Stocks would view the creation of some RTC-type solution positively because it would be viewed as something closer to a fundamental solution to the underlying problem that is afflicting financial markets now,” said Michael Moran, chief economist at Daiwa Securities American in New York, reports News for Yahoos.
Ah, yes, a “fundamental solution,” that is to say fleecing the commoners all the more. Last time around, crooks in high places told us it would only cost a mere $50 billion to bail-out the savings and loan mess. All told, it was closer to $1.4 trillion.
The S&L thing was all about “deregulation” — that is, allowing criminals and loan sharks to run things without oversight, sort of like allowing wolves to run a chicken coop — “imprudent” real estate lending, allowing insolvent savings and loan institutions to remain open for business, shady brokered deposits, risky lending, out-of-your-mind lending, the whole rotten ball of wax.
It was a great deal for the criminals, though, for instance the Bush crime family. Jeb Bush, George Bush Sr., and his son Neil Bush have all been implicated in the Savings and Loan scandal. Jeb Bush defaulted on a $4.56 million loan from Broward Federal Savings in Sunrise, Florida. Neil Bush, as director of Silverado Savings and Loan, allowed that institution to go belly up at a cost of $1.6 billion to taxpayers. Neil allowed a kinds of bad loans to shady characters. One “investor” (criminal), Bill Walters, defaulted on a $106 million dollar loan Neil dished out, apparently like breath mints – and why not, he probably knew you’d be on the hook for the balance.
Try defaulting on your mortgage like Jeb did and see what happens. Jeb was eventually rewarded by the idiotic voters of Florida and elected governor. Go figure.
Now the bankers and Congress are itching to resurrect the Resolution Trust Corp.
Tony Crescenzi of the Boston Globe explains how this scam will work:
Basically the U.S. will end up buying the toxic assets from the banking system in a more comprehensive way then we’ve ALREADY been doing. Staring down the worst financial crisis in decades, U.S. lawmakers are strongly considering whether they need to dust off a 1980s-era plan to help save the banking industry and stabilize the economy more broadly. Both Democrats and Republicans have shown interest over the past two days in the idea of creating a government corporation to help deal with the toxic assets that have already brought down financial behemoths Bear Stearns Cos. and Lehman Bros., and forced the government to take over Fannie Mae and Freddie Mac.
https://www.infowars.com/?p=4668
A New Resolution Trust Corp. for the Bankers?
Yo, commoner! Get ready to get stuck again, this time cleaning up the toxic housing-related bad debt that’s taking down the banks.
Alan Greenspan, Paul Volcker, Barney Frank and others want to create something along the lines of the Resolution Trust Corp., a public boondoggle created during the fabled savings and loan “crisis” in the late 1980s. “Stocks would view the creation of some RTC-type solution positively because it would be viewed as something closer to a fundamental solution to the underlying problem that is afflicting financial markets now,” said Michael Moran, chief economist at Daiwa Securities American in New York, reports News for Yahoos.
Ah, yes, a “fundamental solution,” that is to say fleecing the commoners all the more. Last time around, crooks in high places told us it would only cost a mere $50 billion to bail-out the savings and loan mess. All told, it was closer to $1.4 trillion.
The S&L thing was all about “deregulation” — that is, allowing criminals and loan sharks to run things without oversight, sort of like allowing wolves to run a chicken coop — “imprudent” real estate lending, allowing insolvent savings and loan institutions to remain open for business, shady brokered deposits, risky lending, out-of-your-mind lending, the whole rotten ball of wax.
It was a great deal for the criminals, though, for instance the Bush crime family. Jeb Bush, George Bush Sr., and his son Neil Bush have all been implicated in the Savings and Loan scandal. Jeb Bush defaulted on a $4.56 million loan from Broward Federal Savings in Sunrise, Florida. Neil Bush, as director of Silverado Savings and Loan, allowed that institution to go belly up at a cost of $1.6 billion to taxpayers. Neil allowed a kinds of bad loans to shady characters. One “investor” (criminal), Bill Walters, defaulted on a $106 million dollar loan Neil dished out, apparently like breath mints – and why not, he probably knew you’d be on the hook for the balance.
Try defaulting on your mortgage like Jeb did and see what happens. Jeb was eventually rewarded by the idiotic voters of Florida and elected governor. Go figure.
Now the bankers and Congress are itching to resurrect the Resolution Trust Corp.
Tony Crescenzi of the Boston Globe explains how this scam will work:
Basically the U.S. will end up buying the toxic assets from the banking system in a more comprehensive way then we’ve ALREADY been doing. Staring down the worst financial crisis in decades, U.S. lawmakers are strongly considering whether they need to dust off a 1980s-era plan to help save the banking industry and stabilize the economy more broadly. Both Democrats and Republicans have shown interest over the past two days in the idea of creating a government corporation to help deal with the toxic assets that have already brought down financial behemoths Bear Stearns Cos. and Lehman Bros., and forced the government to take over Fannie Mae and Freddie Mac.
Couldn't agree with you more, ACC. The gov't just needs to "back the f--k off"----just like you said.
The best thing about this particular room in all the covers rooms is that we can all "agree to disagree" here.....and do so in a civil manner. From your posts, I discern that you are in the real estate business down in Georgia (Tybee Island?-----just a guess). By all means, please continue to share your insight on what you see first hand. And no, we (you and I) are not going to see eye to eye on everything----I have no problem with that at all, and if you can help me out by pointing out something that I don't see, then I am happy to take the help.
For sure, I am not a "market guru" and by no means is my opinion the litmus test. Yes, I can get a little carried away with "dark ages" comments, but most of that is just for humor...as I am sure you have figured out.
FTR, I remain bearish on the long term, but man oh man do I hope I am wrong.
Anyway, congratulations on your recent trading success. I have done nothing since last week, but am in cash and ready to go if I see something.
Enjoy the football game tonight, man. Hope you're on the winning side.
Stay in touch.......
Couldn't agree with you more, ACC. The gov't just needs to "back the f--k off"----just like you said.
The best thing about this particular room in all the covers rooms is that we can all "agree to disagree" here.....and do so in a civil manner. From your posts, I discern that you are in the real estate business down in Georgia (Tybee Island?-----just a guess). By all means, please continue to share your insight on what you see first hand. And no, we (you and I) are not going to see eye to eye on everything----I have no problem with that at all, and if you can help me out by pointing out something that I don't see, then I am happy to take the help.
For sure, I am not a "market guru" and by no means is my opinion the litmus test. Yes, I can get a little carried away with "dark ages" comments, but most of that is just for humor...as I am sure you have figured out.
FTR, I remain bearish on the long term, but man oh man do I hope I am wrong.
Anyway, congratulations on your recent trading success. I have done nothing since last week, but am in cash and ready to go if I see something.
Enjoy the football game tonight, man. Hope you're on the winning side.
The USA and the "global" financial markets.
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