Jump to content


Photo

Holiday Weekend Showprint


This topic has been archived. This means that you cannot reply to this topic.
221 replies to this topic

Poll: How long can they keep the scam alive?

How long can they keep the scam alive?

You cannot see the results of the poll until you have voted. Please login and cast your vote to see the results of this poll.
Vote Guests cannot vote

#211 shorty

shorty

    Clinical Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPip
  • 8,938 posts

Posted 23 March 2008 - 11:23 PM

More DumbaSS Failed Housing Gamblers (all Borkers! they Borked themselves!!!) in Shank MexDiego

In all, Khamo ended up with 13 properties at the peak. She filed for bankrupture in February. She has lost the bulk of the properties to lenders already, according to county deed and bankrupture court records. She expects to lose all of them. “It took six years to build everything up and six months to lose it,” she said. The East County home in which she and her husband reside has been taken back by the bank – although the family still lives there for now, she said. GIT YER ASS OUT!

In 2003, Staci Gemigniani bought a two-bedroom, 1,100-square-foot house in City Heights for about $295,000. The next year she got her ream estate license and purchased three more homes in the succeeding 18 months – CONdos in downtown San MexDiego and EsCONdido, and a house in the College Area – for about $1 million combined, deed records show. Since October, Gemigniani, 35, has lost all four to foreclosure. She did not return repeated phone calls seeking comment. PICK UP THE PHONE! I GOTTA HOT R.E. DEAL FER YA!

Robert and Yvonne Cromer began gambling in ream estate in 2000, when they tapped the equity in their College Area home to buy a nearby rental property. Over the next few years, the San MexDiego County couple repeated the pattern, accumulating 17 properties in five states. In 2004, they were featured in a CNN Money article headlined “Tycoon in the Making.” But today's severe ream estate bust has exposed cracks in the foundation of the Cromers' property empire. Since October, they have lost three homes in San MexDiego County to foreclosure – homes they bought for a combined $2.6 million, according to county deed records. They have lost three homes in other states to lenders, Yvonne Cromer said.
The Cromers, who are both ream estate borkers, believe they have weathered the worst of the storm. FAT CHANCE!

Cynical Pontificator of Crock Stocktology

Tiger's Wood, Anthony's Weiner, Barney's Frank, Herman's Cain, Harry's Reid, Elliot's Spitzer
 


#212 ChicagoBear

ChicagoBear

    Master of Stock Proctology

  • Members
  • PipPipPip
  • 1,829 posts

Posted 23 March 2008 - 11:28 PM

A friend of mine who tracks IBD sector rankings religiously commented this week "Never thought I'd see the Chemical-Fertilizer group and the home builders being in the top ten IBD ranking at the same time and right beside them are the transports too.....Bill O'Neil has said that when the laggard groups start to lead and the leaders begin to weaken then we need to be careful that the bear market may be in the lead."

View Post


“Even turkeys can try to fly in a windstorm.” – Bill O’Neil

Good observation by you friend. Here are the top 10 industry groups (of 197 total) on this most recent follow-through day (not in any order):

Apparel – Shoes & Related
Retail – Mail Order & Direct
Investment Bankers
Banks – Super Regional
Retail – Discount & Variety
Retail – Department Stores
Finance – Mortgage & related services
Leisure – Photo Equipment & Related
Retail – Restaurants
Retail – Major Discount Chains

There is no new leadership here. These are snap-backs in the most beaten-down industries. 3 of these industries still rank in bottom 10 of 197.

Let’s take it one step further. Here are the 10 worst performing industry groups from Thursday’s follow-through:

Oil & Gas – US Royalty Trust
Metal Ores – Gold/Silver
Building - Mobile/Mfg & RV
Chemicals – Fertilizers
Food – Flour & Grain
Machinery – Construction/Mining
Real Estate Development
Oil & Gas – Canadian Exploration
Oil & Gas – International Exploration
Metal Ores

All but 2 of these (Building and Real Estate) are past leaders. Metals, Oil & Gas, Fertilizer, Food…these were all the last pillars of the bull market. The last leaders just got whacked. I think Thursday’s follow-through was a farce. If anything, this supports the idea that the bear is on.

V is a dog in heat, and I’m crusin for some new meat!
If we don't change our direction, we're likely to end up where we are headed.
It wasn't raining when Noah built the Ark.
"and the vicious cycle will feed on itself in an orgy of cannibalistic self destruction until even the skeletal remains of the system are ground into powder." - Doc, 3/2/09

#213 shorty

shorty

    Clinical Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPip
  • 8,938 posts

Posted 23 March 2008 - 11:45 PM

What a difference 4 years makes
Tycoon in the Making

The Cromers used a $3,000 cash advance to buy their first house. Now they own $3 million in property
May 24, 2004: 4:26 PM EDT
By Sarah Max, CNN/Money senior writer

Though the couple has more than $1 million in equity on their properties, they borrow as much as they can to still qualify for the best rates. "Then we ride the market until we can refinance with 20 percent equity," said Yvonne, adding that most of their loans are interest-only, five-year adjustable-rate mortgages.
RUH-ROH!

What if prices don't continue to inflate has they have? "That would be a great time to buy."
THINK AGAIN, GIRLFRIEND!

Cynical Pontificator of Crock Stocktology

Tiger's Wood, Anthony's Weiner, Barney's Frank, Herman's Cain, Harry's Reid, Elliot's Spitzer
 


#214 Peek Paper

Peek Paper

    Doctor of Stock Proctology

  • Members
  • PipPipPipPip
  • 2,598 posts

Posted 23 March 2008 - 11:49 PM

Seems to me like the Fed just showed us their arsenal, if not having already depleted it. I've spent all weekend pondering the implications of all of this (scratch that, actually very little of it was spent thinking about the market at all, rather where I hid that easter egg a coupla years ago that I still can't find). I find that, on the surface, there is no reason we shouldn't have a raging bull market. The Bernanke put is just awesome ... my Fed God is an awesome God!

Digging deeper, I think anything resembling a sell off in the next week pulls the curtain on the stock market, the credit markets, the world economy and thus causes TETWAWKI. Thus, the Fed will pull out all the stops, I'm sure, to keep this from happening. It'll be quite a show.

But there will be no public participation, other than aplomb, which the market will need to make new highs and without which, soon enough, the market will fall back to new lows. It's just a matter of time and how much political capital the Fed is willing to expend to bail out Citi, FNM, Freddie, Sally, GM, LEH and assorted other cheat street To-Big-To-Fail's.

It some point the outcry will trip up the Fed and grind all of this to a halt. The public sees through all of this. They're hoarding what cash they can, if not PM's. They are desperately trying to pay off debt. They can't fill the gas tank no more.

Investing is the last thing the Vox Populi has in mind.

The Dow show is over.
The deeper you dig into a pile of dung, the worse it smells ...

#215 shorty

shorty

    Clinical Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPip
  • 8,938 posts

Posted 23 March 2008 - 11:56 PM

The Dow show is over.

View Post

night session 12,393 +65 :unsure:

Cynical Pontificator of Crock Stocktology

Tiger's Wood, Anthony's Weiner, Barney's Frank, Herman's Cain, Harry's Reid, Elliot's Spitzer
 


#216 shorty

shorty

    Clinical Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPip
  • 8,938 posts

Posted 23 March 2008 - 11:58 PM

bernce at 900 possibre?

Attached Images

  • temp.JPG

Cynical Pontificator of Crock Stocktology

Tiger's Wood, Anthony's Weiner, Barney's Frank, Herman's Cain, Harry's Reid, Elliot's Spitzer
 


#217 shorty

shorty

    Clinical Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPip
  • 8,938 posts

Posted 24 March 2008 - 12:06 AM

Its the exporters that will be gang busters from now on

Boeing Deere Catapillar et al

At this $ level Airbus just cant compete.

View Post

also IBM, PG

good pernt -- lower FRN's good fer some Dow stocks

Cynical Pontificator of Crock Stocktology

Tiger's Wood, Anthony's Weiner, Barney's Frank, Herman's Cain, Harry's Reid, Elliot's Spitzer
 


#218 linrom

linrom

    Master of Stock Proctology

  • Members
  • PipPipPip
  • 1,430 posts

Posted 24 March 2008 - 12:25 AM

Mark Denninger has an excellent piece on his own interview with Dick Bove who made 'a bottom is in' call on CNBS Thursday. <_<

Friday, March 21, 2008
Why Dick Bove (And Market Callers Like Him) Are Wrong

Ok, having spent a good part of the day (and all of the afternoon) in an hour-and-a-half phone call with Mr. Bove, and then following up with a bunch of emails, I think I understand the premise of his "buy bank stocks now" call.

I also understand where I believe his fatal errors of analysis lay, and why this will be borne out in the fullness of time.
http://market-ticker.denninger.net/

View Post


Unfortunately Kurt Denninger is turning out to be a demagogue. He got all the yahoos on his website up in arms about paying for "granny's" medical care when she can't afford it. They want to euthanaize her so that they don't have to pay higher taxes!

I also found out that he lost a lot of money last year in September when Bernanke lowered rates, which prompted his anti-Bernanke rant under the guise of lower dollar being bad for American consumers and savers. He is also a regular guest now on "right-wing" talk radio.

#219 Peek Paper

Peek Paper

    Doctor of Stock Proctology

  • Members
  • PipPipPipPip
  • 2,598 posts

Posted 24 March 2008 - 12:45 AM

night session 12,393 +65 :unsure:

View Post

... soon :rolleyes:
The deeper you dig into a pile of dung, the worse it smells ...

#220 FauxCaster

FauxCaster

    Doctor of Stock Proctology

  • Members
  • PipPipPipPip
  • 2,748 posts

Posted 24 March 2008 - 01:45 AM

I would like to know what the people who voted "What scam?" were thinking. Just joking perhaps?

View Post


You can't scam willing participants. This is a democracy or a republic, either way, the public and media could have stop this long ago with a little outrage. They applauded the fraud when it raised the value of their houses, they'll applaud all attempts to prop up prices. It's not a scam, it's public collusion.

Just pity the 30% of Americans who don't own homes who have to listen everyday while Congress and Press try to scheme along side their Wall Street brethren ways to prop up the cost of a basic necessity, shelter, at the same time they debase the currency making all other necessities rise. Bravo. There's not enough serfs to support the 70% gentry. Methinks this fantasy will end in one way or another in months or years, but I doubt decades. We don't have the propensity to save like the Japanese.
"WE ARE BEING KEPT ALIVE by the Entropic movement of Dark Matter(Sino-Nippo-dollar purchasing of $UST)---as soon as there is a ringing sound,a sign of an clogged artriosclerotic wormhole on the emergency fiat-meter it will end--dynamic equilibrium,will have been achieved;better known as death" -- beardrech (Mar 15 2006, 01:17 AM)

"There's a good chance he was drunk or drugged. Only an idiot would jump into the bear cage." -- Belgrade Zoo Director Vuk Bojovic (August 20, 2007).

It's like you're dreamin' about Gorgonzola cheese when it's clearly Brie time, baby. -- Hitchhiker (S.A.M. 1998)

Mar 28 2003: July 2003 is the time I have identified as the low of the bear move...then the first leg of the bear is over ...many will be caught by surprise to see the market near it's all time high again within 3-4 years [2007] ..."depression" similar to 1932 doesn't come until 2010. -- blackbelt (Mar 28 2003, 10:05 PM)

#221 shorty

shorty

    Clinical Professor of Stock Proctology

  • Members
  • PipPipPipPipPipPipPipPip
  • 8,938 posts

Posted 24 March 2008 - 04:21 AM

You can't scam willing participants. This is a democracy or a republic, either way, the public and media could have stop this long ago with a little outrage. They applauded the fraud when it raised the value of their houses, they'll applaud all attempts to prop up prices. It's not a scam, it's public collusion.

Just pity the 30% of Americans who don't own homes who have to listen everyday while Congress and Press try to scheme along side their Wall Street brethren ways to prop up the cost of a basic necessity, shelter, at the same time they debase the currency making all other necessities rise. Bravo.  There's not enough serfs to support the 70% gentry. Methinks this fantasy will end in one way or another in months or years, but I doubt decades. We don't have the propensity to save like the Japanese.

View Post

It's already ended. Merely propping up the prices of termite-infested stucco crapbox gambling debt chips is not enough to keep it going. The prices must continually rise so more debtcash can be periodically extracted. 10% per year is the minimum for most housing gamblers to survive. 0%, i.e., flat prices, for even two years means death, game over, because they produce nothing, they lived like parasites off a pyramid scheme that has now collapsed.

Bottom line is many of the 70% wasted an entire decade playing a pyramid scheme that only a small percentage of them actually profited from in the end (the ones who got out before the music stopped). The 30% in many cases are actually better off at this point, because they spent the decade acquiring skills and learning to produce in order to survive, and they didn't get sucked into HELOC hell. There is nothing more useless and pathetic than a failed housing gambler left holding the bag, so hopelessly underwater that all they can do is squat until evicted, then go on the dole because they have no useful employable skills in the real world.

Cynical Pontificator of Crock Stocktology

Tiger's Wood, Anthony's Weiner, Barney's Frank, Herman's Cain, Harry's Reid, Elliot's Spitzer
 


#222 jrosie

jrosie

    Stock Proctology Intern

  • Members
  • Pip
  • 55 posts

Posted 24 March 2008 - 06:27 AM

You can't scam willing participants. This is a democracy or a republic, either way, the public and media could have stop this long ago with a little outrage. They applauded the fraud when it raised the value of their houses, they'll applaud all attempts to prop up prices. It's not a scam, it's public collusion.

Just pity the 30% of Americans who don't own homes who have to listen everyday while Congress and Press try to scheme along side their Wall Street brethren ways to prop up the cost of a basic necessity, shelter, at the same time they debase the currency making all other necessities rise. Bravo.  There's not enough serfs to support the 70% gentry. Methinks this fantasy will end in one way or another in months or years, but I doubt decades. We don't have the propensity to save like the Japanese.

View Post


Ah, but the media is part of the scam. See, even you have been scammed..





Stock market portfolio giving you the runs? See Dr. Stool.

Take a subscribatory!
Download 
The Anals of Stock Proctology now!



The Daily Stool - Stock Market Message Board
Stool's Gold- Gold and Precious Metals Forum
Look Out Below Message Board

Support your local Stool Board.


The Al E. Greenspeuman designer line at Stoolmart. Get yours today! Click here now!
Get Mugged!


Dr. Stool's
Book Search

Enter title, author, or keyword
Just books
All Products





Old Stool Depository

Live Steaming Pile Chart