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Originally posted by finemanm
reply to post by audas
I love the part of the interview where he says that Obama has three or four months before he is - just like Bush - the most hated man in the US. I don't buy it unless all the Obamaphiles suddenly wake up to the fact that the new boss is the same as the ol' boss.
Originally posted by GreenBicMan
reply to post by fromunclexcommunicate
I dont believe Uncle Ben has hinted at that time period at all, for what are you talking exactly?
Better Than Expected!
Originally posted by joel1900
American banking institutions have leveraged debt (I suppose that is what you would call it) of 681 trillion.
Well, first blush is that there's no way, even when pigs fly, that the taxpayers can bailout 681 trillion of bad debt (if it were all bad).
news.yahoo.com...
WASHINGTON – The White House told industry officials on Friday that it is leaning toward recommending that the Federal Reserve become the supercop for "too big to fail" companies capable of causing another financial meltdown.
The extent of the rise in bad debts has surprised some commentators who now believe the taxpayer could be on the hook for losses under the asset protection scheme faster than first expected. (DUUUUUUUUUH!)
There has been some evidence of a small increase in mortgage lending in Britain, but it is not nearly strong enough to prevent house prices, which are down nearly a quarter from their 2007 peak, falling further. And unemployment is expected to continue rising well into next year, something that is likely to restrain consumer spending.
I dont believe Uncle Ben has hinted at that time period at all, for what are you talking exactly?
We really don't know how a credit-dependent post-industrial society, with a high degree of economic inequality, will respond to having 25% of it's workers sitting at home.
More than 3.5 million American children under the age of five are facing the risk of hunger, an anti-hunger NGO suggests in a study.
According to a report by 'Feeding America', this accounts for about 17 percent of American kids under the age of five.
In 11 states, more than 20 percent of children under the age of five are in danger of hunger, the report revealed.
The banks need $75 Billion in new capital with a possibility of $600 Billion in losses through 2010. It seems like the Fed actually believes that this is not a possibility but likelyhood. It would seem though that more capital will be needed as Alt-A and Prime resets continue in 2011 and 2012. So while the the biggest transfer of present and future wealth continues the big banks will be capitalized very well. It starts to explain why dopes like Bill Miller of Legg Mason and Abby Blabby Cohen say the rally will continue and that financial stocks are "on sale." They appear to Be cheap actually - with literally unlimited amounts of funds from taxpayers (for years) and the Chinese and Japanese. While banks are supposedly backstopped at all costs the US consumer can look forward to inflation, higher taxes to pay for banker greed, continued falling wages, above average unemployment, and stagnant house prices in the future. It's incredible that we have been forced to support 19 banks that are mostly responsible (out of 8500) for the downfall of the economy. This appears to have been mostly for selfish gain, elimination of competition, and consolidation of wealth at the bank level. The future looks bleak for Americans. Some iddiot analyst that said the "bull can run for years." At some point in time the bear rally will end. There are far fewer big consumers than before. The consumer accounts for 71% of the economy. 5.7 million jobs are gone, the social mood has changed. In fact even if we lose an average of 200,000 jobs a month through 2009, we will have lost 7 million in this recesssion. Getting all of those back still wouldn't bring back the excessive consuming that has gone on. Consumers along with businesses have started a long break. With revenue down, earnings way down, stocks up 30-45% - P/Es are flying higher (20s now for the S/P500). This isn't a cheap time to buy like the early 80s when P/Es were in the 8-10 range. Earnings better start growing by 20 or 30%+ fast to justify stock prices. It seems like a lot of work to get GDP from -6% to 1.0% as some are forecasting for 2010. Seems like weak growth for $12.1 Trillion in pledged funds. The only thing that will get us back is employment and excessive fraud - that's what got us there before. It's the greatest transfer of money in history. It's to those who defrauded us. They're even richer and better protected than before while Americans are once again worse off. I've made money in the past two months but I'm not buying that this is a new bull. It makes no sense. The future looks like a time to invest in gold, shorting the dollar, and saving what money can be saved.
Originally posted by GreenBicMan
reply to post by RetinoidReceptor
I sit at a L2 Screener, these are real, its not the boys down the street on ameritrade playing right now, because we all know they buy at the top, its smart money moving this market now, and when mutual funds catch up.. well I have stated my views previously.