179 replies to this topic
Posted 30 January 2010 - 01:38 PM
I rarely watch any of the financial channels,but I can't turn away when the market gets crushed.
It's absolutely F'n sickening the crap I have heard in the last few days.A few tidbits I heard on CNBS.....
Just the top 10 dumbest for now
1 The market is only 1 year into a 5 year recovery
2 Washington is causing stocks to crash
3 Obama is causing stocks to crash
4 Load up on tech
5 We will make much higher highs later in the year
6 No reason to worry
7 Earnings are GREAT,we should be rallying hard right now
8 The consumer will come back
9 Buy because of china
10 Buy all dips
I gotta stop watching,I will turn it back on when the VIX hits 100 and see what they say then
Posted 30 January 2010 - 02:09 PM
I can't seem to stop thinking about this cultural diversity issue. It's so interesting. In part, the U.S. culutural diversity has been caused by our prosperity-- people coming here for that. But in part, the reverse is also true-- that our prosperity is to some degree caused by our culutural diversity. When you have people from a wide variety of cultural backgrounds satrting businesses, and sometimes working together to solve business problems, you are certainly going to get a large number of different solutions you can consider. You're definitely not going to be stuck in the same old way of thinking about the problem. In fact, I think it's even possible that the U.S. culturally diverse population will help us to pull out of the economic problems we are now in. I certainly hope so.
Of course, this message board itself is international, as well as having people from different occupational backgrounds etc., and that is why we have so many different things to contribute to one another, on the subject of the markets & in other areas too.
Something you said, Foxy, a year or so ago, comes to my mind. You said that when Obama came to Germany, you perceived him as being weak in his personality. I didn't see him that way at the time. But since then, I have thought, well he certainly isn't as strong as I'd hoped in some ways, e.g. in standing up to Wall Street. I hope for that to change some, now that he's paying attention to my idol Volcker. Anyway, I think you saw something I didn't see. It's great to have so many different perspectives here on the board.
Posted 30 January 2010 - 02:42 PM
The BHO administration is already running up flags about nationalizing your 401 to see who shoots at it.
I have rolled half of mine in the last two and will continue this year. It is real painful to pay the 35%, but it will be worst when you just get a SS check instead.
Posted 30 January 2010 - 02:44 PM
Hey Doc, is it spam if you read it?
Posted 30 January 2010 - 02:53 PM
Why not roll it to an IRA? No taxes.
Posted 30 January 2010 - 02:57 PM
Congratulations and best wishes in your new endeavor.
Posted 30 January 2010 - 03:02 PM
Thanks, I misspoke. I am rolling IRAs into taxable cash accounts
I meant IRAs and 401s. The government wants all the untaxed monies now.
Posted 30 January 2010 - 03:47 PM
I think that was when he did visit Berlin. He held a speech in front of several thousand people and that speech was very weak. As a personality i like him and i did hope he wins the election, casue i thought it would be good for the US. One has not to be a prophet to predict what will happen with him: He will get eaten alive by the military/industrial complex. He has NO chance and i think he already knows that. Thats why he tries to get everything going at one and the sdame time, cause he knows that he will not have much time. The campaign against him right now - biggest downturn in popularity of a new elected president ever - is, well, a campaign. We all know that there is nothing easier to manipulate than a Gallup poll.
'patriot' is formed with 'patria' and 'idiot'
Posted 30 January 2010 - 04:22 PM
That's a good list. For some reason, I particularly like number 8, the consumer will come back. In reality, the consumer has been stretched about as far as a crusted pair of used men's briefs - all the elasticity is gone. The consumer is starting the death rattle and soon will be bulldozed into mass graves. Millions are going to be experiencing a new way of life in the coming age, a life where just getting the basic necessities will be difficult. Many will gladly trade in their I-phone, or whatever crap Apple will be pimping, for food to feed their families or heat to keep them warm.
Remember last week when I said that the town near where I grew up in, 42 homes had the electric turned off because the owners couldn't pay the bills. There are only approximately 200 homes in the entire stinking town! There are some kids in the school district that can't even afford to pay for a school lunch and are forced to eat peanut butter and crackers - they don't even get milk. Folks, it is already happening. Shorty's prophecies are coming to pass!
I watched a snail crawl along the edge of a straight razor. That's my dream; that's my nightmare. Crawling, slithering, along the edge of a straight razor... and surviving
Posted 30 January 2010 - 04:24 PM
An interesting tidbit from a Doug Casey free spam as Doc would say.
According to an analysis recently completed by the Pew Charitable Trust…
… total debt in this country doubled from 2000 to present (from $26 trillion to $53 trillion). This drove the debt (both public and private) to 375% of GDP in this country before recently declining to 370%. This 370-375% number is the highest since the Great Depression when it reached 260% at the peak, even with a collapsing GDP. Even more incredible is that the present debt level does not include the entitlement and pension obligations that would just about double the total debt from where it is now.
This U.S. debt to GDP started accelerating in the 1960s (with the Vietnam War, Space Race and continuation of the Cold War) when it took $1.53 to generate an additional $1 of GDP. Then during the 1970s, with the continuation of the Vietnam War, it took $1.68 to generate $1 of GDP. In the 1980s (including Leveraged Buyouts and Star Wars) it took $2.93. In the 1990s (with the internet bubble) the debt it took to generate $1 of GDP climbed to $3.12. However, the most incredible of all was the first decade of this century when it took over $6 to generate an additional $1 of GDP. That decade included the war on terror, two wars, private equity firms (new name for leveraged buyouts) and housing and another stock market bubble, as well as promises of entitlements that we have no possibility of being able to keep. Clearly, needing over $6 to generate $1 of GDP is unsustainable.
Posted 30 January 2010 - 04:29 PM
I think this chart says it all. Pretty damn depressing!
Same source as GDP
Posted 30 January 2010 - 04:29 PM
I still think that is a violation of Federal law. There are Federal subsidies that provide milk to the schools and there are guidelines as to what the schools are MANDATED to provide, if they have accepted any Federal money, which they all do. I suggest again that you contact the school board and make sure that they are aware of what the principal at the school is doing. (That business of refusing to let the church pay the lunch bills is disgraceful.) If that fails, perhaps you could buy some pitchforks, tar, and feathers for the parents to use.
Of course I'm caustic!
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