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B4 the Bell, Toozleday Aug 10, 2004

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Guest yobob1

Welkom to the only place on earth where you can view the inner workings of the greatest think tank ever assembled for free. Like they say you get what you pay for. :lol: When a customer comes in and asks for advice, I always ask them if they want good advice or free advice. If it's a lawyer or doctor I tell to call my secretary and make an appointment a few weeks down the road and then bill them for the time they talked to me about making an appointment. Oddly I don't seem to have a lot of doctors or lawyers as clients.


According to Bloomberg the effective fed funds rate this AM is 1.31 - yesterday AM it was 1.38.


Fuctures, after 990N showed up at his normal 3 AM time, are slightly above water as of 7 AM Eastern.


PMs off slightly (or crashing in Wndysrf terms :lol: ) in London as has been the case a lot lately.


Uncle Buck steady with one foot on the floor, Nurse Ratchet hovering nearby.


Saudi announces a 300,000,000 bpd increase in oil production through nuclear detonation but admit it's going to be hard to round it up and separate it from the sand. Anything for the Chimp.


Chambers will announce they have discovered a way to turn excess inventory and employees into oil. Expect Crisco to hit $100 in the AH and then execute a leveraged buyout of Royal Dutch.


I stand pat on my no raise this meeting of Sir Alan's round table.



The absence of promises of a fantastic future risks removing the blinders that have guided equity price increases in this era of weak fundamentals, unsustainable macroeconomic imbalance and bullish forecasts built on illusions just over a receding horizon.


Max Fraad Wolff

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Guest yobob1

And don't forget they announce the preliminary productivity numbers today. What with the sheeple working two jobs for half the pay, productivity is way up I'm sure.

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This has nothing to do with today's Fed meeting, but from a costly "crisis" long past - the S&L crisis of 1989. Congress and regulators abruptly changed some S&L rules back then. It appears that implied contracts set up by Congress can become actual contracts.


Now think about the implied govermental "agency" status of GSEs and before you know it, the government will be on the hook for $100s of billions of GSE liabilities in the next financial system crisis.


U.S. Loses Ruling in Challenge by S&L


The regulators offered healthy thrifts a deal: If they'd take over their wounded brethren, the regulators would let them record an asset on their balance sheets equal to the capital deficiency at the sick thrift. That asset, known as supervisory goodwill, could be gradually written off over 40 years.


"They were basically trying to keep the problem swept under the rug," said veteran banking consultant Bert Ely.


When Congress finally faced up to the ballooning problems in the industry in 1989, the resulting thrift bailout bill did away with the supervisory goodwill, requiring thrifts to reduce it to no more than 1.5% of their assets by the start of 1991 and to purge it entirely over the next three years. The action caused thrifts to record billions of dollars in losses.


In the early 1990s, the acquiring thrifts filed a total of 122 lawsuits against the government, seeking as much as $30 billion on behalf of the institutions and their owners. The Supreme Court later ruled that Congress had not exceeded its authority in passing the 1989 law, but said the S&Ls could sue the government for breach of contract.



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The difference between gold stocks and the rest of the market is that the charts of the gold stocks look great. The rest of the market looks like shit. Why, because gold stocks are in a bull market, you know. And as our friend Jimmy Jones Cramer knows, there's always a bull market somewhere. When the market crumbles, the stock players who are looking for a haven will find the precious metals stocks much to their liking. And because of their tiny float, it won't take much to drive a monster bull move. Unless HUI breaks 181 in the next few days, the bull market is intact, and this will be the last great buying opportunity for this generation. 181 is the dividing line. Below that, not as bullish, but not bearish either.


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Omnipotant money distributors.....can't let them fail or show weaknesses as

opposed to mom and pop stores. Preserve the illusion....churn, churn and burn.


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Some early-morning red meat for the paranoiacs:


Porter Goss, just nominated by Bush to head the CIA, attended Yale and was a member of Skull & Bones.


:ph34r:? :ph34r:? :ph34r:? :ph34r:

He helped write the treasonous Patriot Act.


Now he gets to "eat his own cooking" by using it to spy on law-abiding citizens.


The NWO fascist regime consolidates its control ...

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Morning Crew- I still expect a sharp down day as we consolidated at the lows yesterday, having said that it may not happen untill AL barfs up his rate hike. BUT the Astro's are bad today so it could fall apart anywhere on the trail. Window at the Bell for 40 minutes and once again the Chairthrower is in Da house at the open, Helmets on, Buckle up! ;) Yes my stop is still 1072.

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