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  1. #46
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    Re: Very Disturbing

    ^^^If you want something to scare the holy crap out you first read the first article then the next to see what President Clinton had done and how the Presidential election is shaping up. Be sure to read page 4.

    http://www.ncans.net/intro%20to%20na...%20selling.htm

    http://www.alternet.org/story/56443/?page=3

    I hope it all doesn't blow up in our face but this is so far out there it is hard to get a handle on it.

  2. #47
    Joined
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    Re: Very Disturbing

    It Ain't 1929 [Larry Kudlow]

    The way some people in the mainstream media are talking about the stock market and economy these days, you’d think it was 1929 rather than 2007.

    This kind of extreme pessimism is unwarranted.

    Just this morning, for example, we got a Goldilocks jobs increase of 92,000. Wall Street was expecting 130,000, but actually private payrolls increased 120,000, while the government lost 28,000 jobs. That can’t be all that bad.

    Meanwhile, the unemployment rate is 4.6 percent, where its been bobbing about for many months now at a near historic low. Moreover, non-management wages are 3.9 percent above a year ago. This is well ahead of the inflation rate. It means the wallets of American workers are gaining real ground in real purchasing power.

    Once again, the education gap figured prominently in the unemployment statistics. If you’re armed with a bachelor’s degree or higher, your jobless rate stands at 2.1 percent. But if you didn’t graduate from high school, your average unemployment rockets up to 7.1 percent.

    As for all the gnashing of teeth over corporate and mortgage loans, capital markets are absorbing the credit backup. Stocks posted strong gains the last two days and the long awaited market correction is currently tallying a 4-5 percent loss—quite mild by historic standards. Year-to-date the Dow is still up 8 percent and 20 percent higher than one year ago. All this comes despite a constant Democratic barrage of threats over higher taxes and trade protectionism.

    Down in Washington, government shutdown rumors have started trickling out from House Republican members like Minority Whip Roy Blunt. This is because Bush will veto $22 billion dollars of Democratic overspending on appropriations, in addition to all the tax hikes chronicled in today’s Wall Street Journal by editorialist Kim Strassel. It is my hope that President Bush and the GOP congressional minority hang tough on the tax and spend issue.

    So, while the mainstream media peddles its flimsy “sky is falling” narrative, the reality is a 13,400 or so Dow, along with rising wages and a 4.6 unemployment rate, point to a prosperous nation. These are the key barometers. The Bush boom continues.


    No on should buy into this 1929 scenario. It’s not happening.
    08/03 01:05 PM

  3. #48
    Joined
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    Re: Very Disturbing

    ****It is my hope that President Bush and the GOP congressional minority hang tough on the tax and spend issue.***

    Where were you form 2001-2006

    GOP wins
    http://www.independent.org/newsroom/....asp?newsID=31

    http://www.heritage.org/Research/Budget/BG1710.cfm

    http://www.cedarcomm.com/~stevelm1/usdebt.htm

    Federal spending has gone up 1 Trillion form 2001-2007

    http://en.wikipedia.org/wiki/United_...federal_budget

    From 2001 to 2006 I have ask republicans when are they going to cut spending and give the president line item veto.

    What was the first 2 things GW wanted after the Dems took control of the House and Senate? What I heard GW say was we need to cut spending and he wants line item veto, the two things you never heard of from 2001-2007.

    It is all about who takes home the bacon to get re-elected or someone to unseat an incumbent that will bring home more money.



    You keep putting your money in the markets while I have pulled most of my money out just before the DJIA fell off 14000. I have enough of a cushon now I can get back in if it looks like it may go up and have more of what I had before it fell.
    Last edited by falcon_view; 08-04-2007 at 09:23 AM.

  4. #49
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    Re: Very Disturbing

    This Tuesday will be a biggie as to what the markets are going to do in the short run. Federal Reserve board is to meet this week and what is decided at that meeting Wall Street will make the appropriate moves. If rates go up or stay the same is bad news for the markets. The market needs more credit to keep the bulls running. If the FED lowers rates you will see a bounce up but will be short lived.

    I don't think the FED will raise rates (it would be a huge surprise if they did) so we will be left the the same or lower rates to try to move the markets up.

    You can find plenty of remarks on the web as to what will happen if the rate stays the same or are lowered. So far the markets are telling the FED to lower rates or more selling will ensue.

  5. #50
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    Re: Very Disturbing

    This has become a really interesting and timely thread.
    Good for you Falcon for keeping it up.

    If it were my chioce? Id nudge the rate downward a quater perhaps.

  6. #51
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    Re: Very Disturbing

    Jesus. Code Yellow on set 14.

    http://www.youtube.com/watch?v=SWksEJQEYVU

  7. #52
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  8. #53
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    Re: Very Disturbing

    For the most part? I agree. Watch the snip

    And chill abit.

    http://online.wsj.com/article/SB118643226865289581.html

    As an aside? Get ready for more market based solutions like this.
    Keep the government out of the MD business please.

    http://www.sun-sentinel.com/sfl-0806...,1726442.story
    Last edited by jimzinsocal; 08-07-2007 at 04:45 PM.

  9. #54
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    Re: Very Disturbing

    AP and all the Bigname financial writers are so full of shit.

    Three hours ago the headline was "market flat and uneasy about rate talks"

    Old saw. The broken clock is right twice a day.

    http://www.examiner.com/a-868811~Stocks_Surge_After_Fed_Statement.html?cid=rss-Business


    Stocks Surge After Fed Statement
    33 mins ago » Stocks Surge After Fed Statement « 36 mins ago Wall Street Extends Rally After Fed1 hr 42 ago Wall Street Bounces on Fed Decision2 hrs 9 ago Stocks Fall After Fed Statement2 hrs 11 ago Stocks Fall As Fed Disappoints Investors3 hrs ago Stocks Little Changed Ahead of Fed3 hrs ago Stocks Pause As Fed Decision Looms5 hrs ago Stocks Pull Back Ahead of Fed Decision5 hrs ago Stocks Down Ahead of Fed Meeting6 hrs ago Stocks Retreat Ahead of Fed Decision

    Printer Friendly | PDF | Email
    Aug 7, 2007 4:22 PM (33 mins ago)
    By JOE BEL BRUNO, AP

    Font Size: a a A A
    Current rank: # 1,833 of 12,064
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    (AP Photo/Richard Drew)
    Bear Wagner specialist Robert Tuccillo watches screens at his post on the floor of the New York Stock Exchange, Tuesday, Aug. 7, 2007. The market was clearly let down when the Fed's Open Market Committee issued an economic assessment that stated the central bank's predominant concern "remains the risk that inflation will fail to moderate as expected." The Fed's assessment accompanied its decision to keep the nation's benchmarket interest rate, the fed funds rate, stable at 5.25 percent

    NEW YORK (Map, News) - Wall Street overcame disappointment in the Federal Reserve's failure to move toward an easing of interest rates Tuesday, and stocks made a late-day surge as the decision was seen as a sign the economy wasn't threatened by turmoil in the credit markets.
    Investors were at first deeply disappointed that policymakers, who kept benchmark rates on hold at 5.25 percent, did not provide any hints about a possible cut. But, after digesting the policy statement, they quickly gained solace that the economy is likely to withstand losses from subprime mortgages - and turned around a 121 point deficit that occurred after the Fed decision was announced.









    ^^ass holes

  10. #55
    Joined
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    25,232

    Re: Very Disturbing

    To hear the MSM blather on you'd think people were standing on ledges ready to jump. They are wishing soo badly for an economy that has been on a tear for many, many years now to fail... it's unbelievable. And consumer confidence remains strong despite the barrage of negative slant provided by the usual suspects.
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  11. #56
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    Re: Very Disturbing

    I can take all the political blather. I know when to shut it off and not pay attention.
    But there are two things Im real fussy about: Stuff said about other countries [foreign relations] and money.
    There is just no room in those two areas for idiots.

    Just report....stop steering things.
    Report what "is" not "what Id like to see happen"

    There is such a media "want" for "bad times" its sickening.
    Or so it seems to me.

    Maybe they are just covering all the bases but they make themselves sound like morons.

    Like this cranked up fool

    http://www.youtube.com/watch?v=SWksEJQEYVU

  12. #57
    Joined
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    25,232

    Re: Very Disturbing

    Interesting read on the sub-primes:

    Q: How Big Is the Sub-Prime Mortgage Market?

    Ben Stein said it well this past Saturday on Fox’s Cavuto on Business: The sub-prime mortgage problem is grossly overstated; the sector is just too small.

    Smart guy, Ben. Ferris Bueller never should have skipped school that day — he would have learned economics from a master. (Stein, for those who might have missed it, played Bueller’s (Matthew Broderick’s) high-school teacher in the pop hit, Ferris Bueller’s Day Off.)

    But let’s switch movie metaphors for a moment. In Rain Man, autistic savant Raymond Babbitt (Dustin Hoffman) is asked two economics questions by Charlie, his money-loving younger brother (Tom Cruise).

    Charlie: Raymond, how much does a candy bar cost?

    Raymond: About a hundred dollars.

    Charlie: Raymond, how much does an automobile cost?

    Raymond: About a hundred dollars.

    The questions are designed to reveal a systematic flaw in the way Raymond looks at the world. For all his skill at counting the minutia in life (like toothpicks), he just doesn’t understand the issue of scale. He doesn’t have an inherent sense of how big things are.

    I’ve thought a lot about Rain Man over the past few months as I’ve been following the press coverage of the sub-prime mortgage crisis. The story’s been on the front page of the Wall Street Journal nearly every day. Pretty much every show on CNBC — except Kudlow & Co. and one or two others — has been obsessed with the topic. Yet no one seems to be asking the Rain Man question: “How big is the sub-prime mortgage market?”

    And the answer, as Ben Stein makes clear, is not very big at all.

    Currently there are about 44 million mortgages in the U.S., and less than 14 percent of them are sub-prime. And only about 13 percent of those are late on payments, with the majority of late payers working through their problems with the banks.

    So, all in all, when you work through the details and get down to the number that really matters, only about 0.6 percent of U.S. mortgages are currently in foreclosure. That’s up a hair from roughly 0.5 percent last year. That’s it.

    Actually, that’s not it. Things are actually better than the numbers suggest, since sub-prime-mortgage homes are less expensive than prime-mortgage homes. This makes sense. Wealthier people, generally, can afford costlier homes than less-wealthy people. The recent sub-prime surge brought large numbers of moderate-income families into the home-ownership market, and their houses are less expensive than most. Therefore, the dollar impact of the sub-prime default is smaller than if it were a prime default.

    With approximately 254,000 mortgages in foreclosure at the moment — up from roughly 219,000 last year — the sub-prime meltdown has given us an increase of 35,000 mortgage foreclosures over the last quarter. Since the average sub-prime mortgage clocks in at almost exactly $200,000, we’re looking at an approximate $7 billion increase in foreclosed value in the first quarter of this year.

    Raymond, how big is household net worth in the U.S.? About a hundred dollars?

    Actually, it’s a lot bigger than that — about $53 trillion. In other words, the recent increase in sub-prime foreclosures amounts to 0.01 percent of net U.S. household wealth.

    That’s toothpicks, Raymond.
    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  13. #58
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    Re: Very Disturbing

    SUBPRIME MORTGAGES AND UNINTENDED CONSEQUENCES:
    In short, government has been the principal factor preventing the "affordable housing" that politicians talk about so much.
    Politicians have also been a key factor behind pushing lenders to lend to borrowers with lower prospects of being able to repay their loans.
    The Community Reinvestment Act lets politicians pressure lenders to make loans to people they might not lend to otherwise - and the same politicians are quick to cry "exploitation" when the interest charged to high-risk borrowers reflects that risk.
    The huge losses of subprime lenders, some of whom have gone bankrupt, demonstrate again the consequences of letting politicians try to micro-manage the economy.
    Yet with all the finger-pointing in the media and in government, seldom is a finger pointed at the politicians at local, state and national levels who have played a key role in setting up the conditions that led to financial disasters for individual home buyers and for those who lent to them.
    While financial markets are painfully adjusting, and lenders and borrowers are becoming less likely to take on so much risky "creative" financing, politicians show no sign of changing.
    Why should they, when they have largely escaped blame for the disasters that their policies fostered?
    Perhaps we should have hearings and subpoena some politicians for tough questioning. Oh, wait . . . .
    posted at 04:00 PM by Glenn Reynolds

  14. #59
    Joined
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    1,761

    Re: Very Disturbing

    It is not the average Joe investor that swings the markets it is those with the mega bucks. So convince the top dogs all is fine to calm the markets, for the rest of us we are along for the ride.

  15. #60
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    Re: Very Disturbing

    Here we are today

    http://www.reuters.com/article/topNe...edName=topNews

    "The Federal Reserve Bank of New York, which carries out the central bank’s market operation, moved to add $19 billion in temporary reserves Friday morning. It pumped in another $16 billion in reserves a couple of hours later, then $3 billion more in the afternoon.
    "In current circumstances, depository institutions may experience unusual funding needs because of dislocations in money and credit markets," the Federal Reserve in Washington said in its statement. [continue]"

    ----------------------------------------------------------------------------------------------------

    [Jim Lindgren, August 10, 2007 at 1:58pm] Trackbacks
    Federal Reserve Intervenes a Third Time Today.-- For the third time today, the Federal Reserve has intervened to provide liquidity to banks at its discount window. After the second intervention, CNBC reported that the size of the Fed’s two interventions was larger than in any day since September 2001. The third intervention was a very small addition ($3 billion) to the other two ($35 billion).
    What the Fed bought was mortgage-backed securities, the market for which has dried up. According to CNBC news reports, the Federal Reserve was forced to act because US banks have been reluctant to lend short-term money to each other. As banks refuse to cooperate in the usual way because of the spreading credit crunch, the possibility of major problems over the next few months accelerates.



    What was my suggested move by the Fed for Tuesday?

    I said to knock prime down a quarter.

    At the end of today? You tell me what the net effect of todays actions[by the Fed] amount to

    What the Fed needs to remember...take the pulse real carefully.
    Anticipate.
    There was no real reason not to send a positive message on Tuesday.
    I dont see core inflation the same way The Fed Chairman does. I admit.
    But Ben? Lets not get to "hung" on inflation.
    Last edited by jimzinsocal; 08-10-2007 at 03:39 PM.

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