I have to come to terms with the fact that those currently in power accepted the money from the firms that helped create the problems; that hasn't changed, so for whatever they say, the actual deeds may not match the rhetoric. But if they're unwise, they won't fix it, and worse problems may then arise which will lead to economic hardships, & some real reform measures - maybe under duress. Government, when carefully and diligently watched and corrected, has the power to act as a check against market train derailments and corrupt or unscrupulous practices. Ours is in need of being corrected so it once again will function as an arbiter for the interests of the citizens, and the nation as a whole.

But as far as someone coming from the American Enterprise Institute, I begin to think about their support and political agendas:American Enterprise Institute - SourceWatch

[ame=http://www.youtube.com/watch?v=94lW6Y4tBXs]YouTube - Daniel Hannan MEP: The devalued Prime Minister of a devalued Government[/ame]

 

Oh snap!

If you calculate inflation like it was during the great depression it would be around 12% now.

 

 

By: Reuters | 24 Mar 2009 | 07:16 AM ET

 

The U.S. government plan to rid banks of toxic assets will rob American taxpayers by exposing them to too much risk and is unlikely to work as long as the economy remains weak, Nobel Prize-winning economist Joseph Stiglitz said on Tuesday.

 

"The Geithner plan is very badly flawed," Stiglitz told Reuters in an interview during a Credit Suisse Asian Investment Conference in Hong Kong.

 

U.S. Treasury Secretary Timothy Geithner's plan to wipe up to US$1 trillion in bad debt off banks' balance sheets, unveiled on Monday, offered "perverse incentives", Stiglitz said.

 

http://www.cnbc.com/id/29848741

This damned stock market won't cooperate with my trades! *whipcrack* GO DOWN. :laugh3:

 

At least Nouriel Roubini thinks the market has gotten ahead of itself:

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=aCvWs8KIIsUo&refer=worldwide

You're gonna like this Jay,

 

Administration unveils financial system overhaul

 

http://finance.yahoo.com/news/Administration-unveils-apf-14754625.html

In addition, the administration proposed the creation of a systemic risk regulator to monitor the biggest institutions. Geithner did not designate where such authority should reside, but the administration is expected to support awarding this power to the Federal Reserve.

 

Uhhh... expanding the powers of the Federal Reserve? Wow, I didn't know they could get any more powerful. The whole idea of "systemic risk" is ridiculous when you think about it. There is only localized risk. CDS risk is the result of daisy-chaining together dozens of insurance contracts until you're leveraged 100x on the chance somebody might go bankrupt. Anybody who does that deserves what's coming to them. Besides, this kind of leverage wouldn't be possible with higher interest rates (thanks Ben).

 

Requiring hedge funds to register would open their books to inspection by regulators. The SEC sought that authority several years ago but was stymied by a federal appeals court in 2006.

 

Oh fantastic, now I really want to start a hedge fund in America. I can't wait to share all my trading strategies with my competitors.

 

Nick, get ready for another testing of the bottom! Or even a new bottom... wasn't there a character in a Shakespeare play named Bottom? He was a donkey or something, a Midsummer Night's Dream. These strawberries are delicious. Stream of consciousness...

Uhhh... expanding the powers of the Federal Reserve? Wow, I didn't know they could get any more powerful. The whole idea of "systemic risk" is ridiculous when you think about it. There is only localized risk. CDS risk is the result of daisy-chaining together dozens of insurance contracts until you're leveraged 100x on the chance somebody might go bankrupt. Anybody who does that deserves what's coming to them. Besides, this kind of leverage wouldn't be possible with higher interest rates (thanks Ben).

 

 

 

Oh fantastic, now I really want to start a hedge fund in America. I can't wait to share all my trading strategies with my competitors.

 

Nick, get ready for another testing of the bottom! Or even a new bottom... wasn't there a character in a Shakespeare play named Bottom? He was a donkey or something, a Midsummer Night's Dream. These strawberries are delicious. Stream of consciousness...

 

 

 

 

The market is up today, Jay I think you underestimate how stupid the masses are. Were setting up for another major disaster and more corruption of course but until then, were in "recovery". Buy buy buy!:laugh3:

 

Dow 7,888.88 +139.07 +1.79%

 

I really see us hitting 9,000 or maybe 10,000, but the biggest one day gains in the Dow happened during the great depression...

 

Heres the Dow during the great depresion

 

http://www.generationaldynamics.com/cgi-bin/D.PL?d=ww2010.i.djia

 

 

Oh fantastic, now I really want to start a hedge fund in America. I can't wait to share all my trading strategies with my competitors.

 

Singapore then?

Singapore then?

 

I'm up for it if you are.

 

But right now I'm preparing for an interview with the Royal Bank of Canada...

 

Even though I'm in that 3X Bear mkt ETF my entire portfolio is down only 2% today. My energy holdings are keeping me propped up... but I'm not sure how much longer they can hold off the hoards of retarded investors! :laugh3:

Canada! I thought they were more socialist then us? Although I'm liking the sand oil they've discovered there, lots of potential and money.

Canada! I thought they were more socialist then us? Although I'm liking the sand oil they've discovered there, lots of potential and money.

 

Well they have offices in the US, I'm looking at the Raleigh, NC opportunities.

 

Canada's banks actually stood up better than our banks because they didn't make so many stupid loans. Most Canadians chalk that up to "better" regulation, but there are a number of reasons why.

If you get the job at RBC can you help me get a million dollar loan? I have a lot of shopping to do to help the economy.

 

Being serious, good luck and I hope you get the job.

It's all Goldman Snack's fault!:P

They are one of the major players who helped cause this....

 

Jay commercial realestate is going bust now too, maybe the next shoe to drop, what do you think about SRS?

I'm betting on the "better regulation" part. With a little less corruption, anything better helps. The oil sands might be Canada's "black gold" but what a mess it makes! We've really got to get the efficiency measures in place - it's long past when we realized this, and even some (nay, one) oil company admits this now! It's the start of real change, if we can beat back the influence pedaling in Washington and Ottawa... as much as I hate to admit it, as more people get hit hard economically from the corrupt BS that's gone on, there's bound to be sustained support for real reform and reformers. Not the ideal way to get change, but if that moves things in the right direction, so it must be...

They are one of the major players who helped cause this....

 

Jay commercial realestate is going bust now too, maybe the next shoe to drop, what do you think about SRS?

 

Not so sure about this... I think companies are more prone to trim payrolls than give up their real estate holdings at a loss. But that's just a guess, I'd need to research it.

I wonder what role inflation is playing in this rally. Didn't Helicopter Ben announce there was inflation for Feb?

Hmm, well the rally has been like 21% from the bottom so far. Inflation has increased but I'm not sure of the actual impact it would have on the market... would capital goods (stocks) be bought up before other goods/services? Probably.

 

And then you look at the bond market and there's news that it's factoring in far more pessimism than the stock market is at this point. So maybe a solid 3 or 4% of this rally could be purely inflationary. Possibly more. But I think the whole thing is a joke, the market should fall again soon... at least I hope it does.

FTSE 100 and Dow Jones predicted to tumble 28pc

 

http://www.telegraph.co.uk/finance/f...mble-28pc.html

 

I still think all the propaganda and inflation in the short term will fuel the "system". I'm interested to see if the major banks post some kind of "profit" and if they change the Mark to Market sometime soon.

 

And Geithner's plan, is another way of stealing from the tax payers, helping the corrupt banks and probably won't work!

 

[ame=http://www.youtube.com/watch?v=ervHbKa7R5g]YouTube - Geithner Plan I[/ame]

"Currently, I do not think we have seen the lows of the market yet. I think the market is trying too hard to rally.

"The market seizes on any bit of good news and has a relief rally. The fundamentals are that world economics are pretty badly shot."

 

I totally agree. You're seeing too much optimism all at once. The pressure on the downside was tangible the last three trading sessions. I think buyers are in denial. They want to get this thing over with too soon, and have faith in Obama & Friends.

"So without further ado, here are 8 reasons why the Obama administration will not end the crisis this year:

 

(1) Consider that President-elect Obama voted FOR the horrible $700 billion bailout plan that accomplished less than zero in fixing the global economy while only transferring wealth from people that were struggling the most to the unethical financial executives that created this problem. These were my exact words in October, 2008, verbatim, about the eventual effect of the bailout plan: “Don’t believe the media spin. This will fix nothing. Even if and when the government overpays Wall Street and US banks by 300%, 500% and 1000% for their toxic assets, this temporarily recapitalizes these financial institutions but only creates A MUCH BIGGER PROBLEM for the future.” If I understood why the bailout plan would most definitely fail, as I blogged here, and the next President of the United States could not, that is a scary thought. On the other hand, if President Obama understood that the bailout plan would likely accomplish nothing but the transference of wealth from hard-working citizens to corrupt financial executives and still voted for the bill, then this action needs no further discourse."

 

 

http://www.theundergroundinvestor.com/2009/03/8-reasons-why-the-obama-administration-will-not-solve-this-crisis-by-the-end-of-2009/

 

 

Also check out number 3;

 

"(3) This crisis is being misreported by virtually every finance journalist in the world due to an education system that teaches an unsound Keynesian economic model at every top university in the world. From the Obama administration’s actions thus far, it is clear that he is taking a Keynesian approach in his attempt to fix the problem, which is to spend your way out of an economic meltdown. The only problem is that any “fix” that may result from such an approach will be 100% illusory and only result in further destruction of wealth by ensuring future devaluation of the world’s major currencies."

Jay pick up some C and JPM and wait for them to remove to MTM and sell higher. I think in the short term C and JPM will go up a good amount, of course not in the long term but now they're a good buy to hold for a short term then sell higher in my opinion.

Jay pick up some C and JPM and wait for them to remove to MTM and sell higher. I think in the short term C and JPM will go up a good amount, of course not in the long term but now they're a good buy to hold for a short term then sell higher in my opinion.

 

lol I would totally play this card but right now I'm hemorrhaging money because traders are convinced happy days are here again. I'm not going to pare back my holdings of this short ETF just yet, I'm still convinced we'll test the bottom again soon.

 

Limbaugh made a funny point today about how every time Obama leaves the country, the markets recover. Maybe when he returns they'll tank again. ;)

lol I would totally play this card but right now I'm hemorrhaging money because traders are convinced happy days are here again. I'm not going to pare back my holdings of this short ETF just yet, I'm still convinced we'll test the bottom again soon.

 

Limbaugh made a funny point today about how every time Obama leaves the country, the markets recover. Maybe when he returns they'll tank again. ;)

 

They just agreed to 1 trillion at the G20 to help the crisis, this false rally will be here for a while.

They just agreed to 1 trillion at the G20 to help the crisis, this false rally will be here for a while.

 

*puts hands on ears and la's.*

lol, btw awesome sig.