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#46 capitall

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Posted 19 September 2008 - 08:57 PM

It's just downright hilarious. These idiots bonered up the market today because "the gubbermint is backing every thang". And the morans don't even realize the state of the government's finances.

The timing couldn't have been more perfect. Grease the market up right into the election. Then, pull the rug.

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Yes, the government is backing everything indeed. People think the government can afford anything, as if "the government" is some separate thing from another planet-- some Martian Santa Claus-- as if taxpayers don't have to pay for what the government does. We have such a huge ballooning government deficit, and we just keep owing more and more interest on it, instead of collecting taxes to get it paid off. Politicians promote the idea of the U.S. going cheerfully into endless debt, as if it never has to be paid off, and morans believe them.

#47 Slappy

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Posted 19 September 2008 - 08:58 PM

For some reason on my last post, I'm getting a green hyperlink on the word "working" and it leads to a McDonalds popUpComeOn for employment.


And it's creeping me out.

#48 Trader Joe

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Posted 19 September 2008 - 09:03 PM

For some reason on my last post, I'm getting a green hyperlink on the word "working" and it leads to a McDonalds popUpComeOn for employment.
And it's creeping me out.

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Actually Doc's system is able to estimate the amount of your net worth that was lost today....and in order for you to survive it has function that searches the internet for jobs that you would be qualified for so you can pay your bills....


(Just kidding :lol: )

#49 Slappy

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Posted 19 September 2008 - 09:06 PM

Actually Doc's system is able to estimate the amount of your net worth that was lost today....and in order for you to survive it has function that searches the internet for jobs that you would be qualified for so you can pay your bills....
(Just kidding  :lol: )

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That is just exactly what I was afraid of.


Even worse if it had predictive power for next week.


These computers, ya get the updates, but they never tell you what it's about.

#50 Charmin

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Posted 19 September 2008 - 09:06 PM

I wouldn't even be surprised if comrades Bush, Paulson & Bernanke of our now beloved USSRA has on the table to take over all 799 financial institutions they put on the NO SHORTING ban.
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#51 DrStool

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Posted 19 September 2008 - 09:12 PM

Hammerin’ Hank and Helo Ben are living up to their names this week for sure.  Hank for much longer, but he learned the smiley-face media game quickly after some initial arrogance in first round of interviews.  It’s just a p/r smiley face though, he is the Hammer.  He hammered Barney and the CONgressional leadership into giving him a blank check to deal with Foney&Fraudie, scaring them with the alternative (something about if they set a limit number of $$ available, people would game the system to get there).  This morning he did another scare-sales job in TV interviews, threatening the Congress and the citizenry with their futures, and their kids futures, which would be far worse and more expensive if they didn’t give him a “couple of hundred billion”, which means at least $1 Trillion, probably.  A trillion here, a trillion there, and pretty soon …..

The Big Scare seems to be the main ‘negotiation’ tactic of the Hammer, and the whole neoCON experiment in totalitarian rule for that matter.  Up until a few weeks back, a recession was only a “remote possibility”.  This week, we face Armageddon if we don’t do what the Hammer recommends. 

Up till now, Ben has been more aptly Lysol Ben, for sterilizing every big cash infusion, however narrow and targeted the slosh.  But I think I see a propeller forming over his bald head.  He clearly seems to have begun monetizing dead-duck toxic waste from every quarter.  If he intends on buying up the lot, that’s gonna run into the tens-of-trillions, at least, I would think.

But for meddling with forces much larger than your imagination or power, Chris Cox gets the golden stool award this week.  The blow back of unintended CONsequences that is gonna be created from the overt attempt to set market prices by changing the rules of trade every friggin’ week, will be a milestone in blunders.  :o 

What an invigorating and exhausting and infuriating week this has been.  A moment of silence, as Jim Grant asked at the end of an interview on bloombox, for the death of capitalism.  I would only change it by saying the death of the façade of capitalism. 

Never have so few stolen so much from so many. 
:angry:  :angry:  :angry:

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Great post. I posted it over on the WSE. http://wallstreetexaminer.com

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#52 Jimi

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Posted 19 September 2008 - 09:16 PM

For some reason on my last post, I'm getting a green hyperlink on the word "working" and it leads to a McDonalds popUpComeOn for employment.
And it's creeping me out.

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:o :o :o

KILL IT!! KILL IT!! KILL IT!! KILL IT!! QUICK!!!

i really have no idea why that came to mind, but I do feel better.
Sure glad all my albums went GOLD.
"Ferdy-bee-bee-dee-ferbs."
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I love you, TASR!
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Anyone, now, who is not genuinely afraid is a moran.
[T]housands of empty stucco crapboxes vacated after being circle-jerk sham-traded among corrupt borkers, uppraisers and loan officers from 100K up to 800K, then "nopay-walkaway" (with dirty loan cash in pockets)
Guess again, girlfriend.
Or, $2.7 million every effing day since the effing pinball machine.
Permabear Hysterian

#53 Jetlag

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Posted 19 September 2008 - 09:21 PM

With all this circus I missed yesterday's eco data:

New Claims - Level
Consensus 440 K
Actual 455 K

Leading Indicators - M/M change
Consensus -0.2 %
Actual -0.5 %

General Business Conditions Index - Level
Consensus -10.3
Actual 3.8

M2 Weekly Change
Actual $ -1.9 B

The taxpayer's money they are spending NOW could have been used to avert a deep recession instead of being spent on keeping RE and financial asset prices riding out a permanent plateau.

#54 MrHanky

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Posted 19 September 2008 - 09:21 PM

More banks still failing......


Bank Closure: Ameribank of West Virginia
Ameribank, Inc., was closed today by the Office of the Thrift Supervision and the Federal Deposit Insurance Corporation (FDIC) was named receiver. The FDIC entered into purchase and assumption agreements with Pioneer Community Bank, Inc., Iaeger, West Virginia, and The Citizens Savings Bank, Martins Ferry, Ohio to take over all of the deposits and certain assets of Ameribank, Inc., Northfork, West Virginia.




http://www.fdic.gov/...08/pr08082.html

Nothing


#55 Jimi

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Posted 19 September 2008 - 09:24 PM

More banks still failing......
Bank Closure: Ameribank of West Virginia
Ameribank, Inc., was closed today by the Office of the Thrift Supervision and the Federal Deposit Insurance Corporation (FDIC) was named receiver. The FDIC entered into purchase and assumption agreements with Pioneer Community Bank, Inc., Iaeger, West Virginia, and The Citizens Savings Bank, Martins Ferry, Ohio to take over all of the deposits and certain assets of Ameribank, Inc., Northfork, West Virginia.
http://www.fdic.gov/...08/pr08082.html

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Paulson-Bernanke will institute a new lottery soon where depositors in failed banks will each receive $1 million!!!
Sure glad all my albums went GOLD.
"Ferdy-bee-bee-dee-ferbs."
Subscribe & Earn Karma Miles with Every Visit!
Rule #5 Professional Exemption.
Blind Follower, Just Think Positive Hyperinflation, I Get Paid 500 Quadrillion Dollars/Hour at 1000% Interest/Hour Compounding Forever Each Mouse Click Religion.
"I too observe 'flation.'"
I love you, TASR!
YOU MAKE KITTY SCARED
Tops Take Time
Postulate A Free Lunch Economy
Anyone, now, who is not genuinely afraid is a moran.
[T]housands of empty stucco crapboxes vacated after being circle-jerk sham-traded among corrupt borkers, uppraisers and loan officers from 100K up to 800K, then "nopay-walkaway" (with dirty loan cash in pockets)
Guess again, girlfriend.
Or, $2.7 million every effing day since the effing pinball machine.
Permabear Hysterian

#56 DrStool

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Posted 19 September 2008 - 09:25 PM

That was a day at the bank, my goodness! Again mega volume in FX. many banks have problems with their electronic systems at the moment (CLS, Condor and so on) guess it is because what we are seeing right now is a real time stress test for those systems.

During times like these we best do one thing: We step back and rethink. What they do with this "package" is obvious: They KILL the USD. Yes it is that easy. You have to think easy, not complicated. They print more, so the Dollar devalues. Also: With that package they dont reduce the risk appetite of the banks, because greedy banks get saved, so the not so greedy ones got the middle finger. The not so greedy ones will because of that become greedy ones too. The most greed we have in the USA, so that aint good for the Dollar too, becasue there will be not much confidence from outside the US.

I say: we will see EUR/USD at 2.00 before the decade ends.

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The biggest problem is that by assuming the obligation for all this bad paper the US government is destroying its own credit. This is a bigger disaster than the collapse of the financial system. Washington has abdicated the throne to Wall Street.

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#57 BusKow

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Posted 19 September 2008 - 09:25 PM

Dow daily

see, thats why i like TA. [snip]

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Foxie, Congrats on the grind gig. Enjoy your weekend! :D
I like to use congestion rather than absolute high/low for my channels (fwiw). Based on the rate of trend decline (magenta) and the rate of counter-trend rally climb (orange), I'm guess-timating early November for the top touch, and though that is ~12330 now(blue), share your zone for then(green)... B) :lol:

Attached Thumbnails

  • 19SptIDowChan.png

Prudence, indeed, will dictate that governments long established should not be changed for light and and transient causes, and accordingly all experience hath shown that mankind are more disposed to suffer, which evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations , pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security.

#58 Jimi

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Posted 19 September 2008 - 09:28 PM

Olduvai, that article seemed goofy. Detachment of fiat from gold makes any specific pledge of bullion deposits at best a fictional pledge of a fungible transaction unit - namely, the POS FRNs.
Sure glad all my albums went GOLD.
"Ferdy-bee-bee-dee-ferbs."
Subscribe & Earn Karma Miles with Every Visit!
Rule #5 Professional Exemption.
Blind Follower, Just Think Positive Hyperinflation, I Get Paid 500 Quadrillion Dollars/Hour at 1000% Interest/Hour Compounding Forever Each Mouse Click Religion.
"I too observe 'flation.'"
I love you, TASR!
YOU MAKE KITTY SCARED
Tops Take Time
Postulate A Free Lunch Economy
Anyone, now, who is not genuinely afraid is a moran.
[T]housands of empty stucco crapboxes vacated after being circle-jerk sham-traded among corrupt borkers, uppraisers and loan officers from 100K up to 800K, then "nopay-walkaway" (with dirty loan cash in pockets)
Guess again, girlfriend.
Or, $2.7 million every effing day since the effing pinball machine.
Permabear Hysterian

#59 capitall

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Posted 19 September 2008 - 09:33 PM

Boombox Financial News: The SEC announced this evening that it is prohibiting long buying of gold stocks for the next 2 weeks. Short selling, and selling to close established long positions, will be permitted, however.

#60 BusKow

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Posted 19 September 2008 - 09:50 PM

EBAY...monthly base low test (though the month isn't over...), and a daily low test and now a sto buy sig...DYODD...they're prob gonna have a US Home Loan bid section soon :lol:

Attached Thumbnails

  • 19SptEBAYm.png
  • 19SptEBAYd.png

Prudence, indeed, will dictate that governments long established should not be changed for light and and transient causes, and accordingly all experience hath shown that mankind are more disposed to suffer, which evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations , pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security.





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