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CR Voter
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Posted: Sat Jan 19th, 2008 01:07 am |
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| Whoopee. Fortunately the Dow doesn't rule my life or my portfolio. Obviously it matters to you since you and Mr. Doom & Gloom follow it so closely.
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Angel1965
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Posted: Sat Jan 19th, 2008 12:41 am |
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Just making money Voter. People do that you know considering the economy is going down the toilet and your boy in the white house hasn't got a clue. Sad as it is others do know whats going on and its going to be more than you all can handle if your in debt. The insurers of the all these sub prime mortgages have a 450 billion dollar tab to pay and they don't have the money, so guess who goes out of business? The DOW can sink 2000 points at the blink of an eye and that could happen in the next three weeks. Interesting huh?  Last edited on Sat Jan 19th, 2008 12:42 am by Angel1965
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Game_Over2007
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Posted: Fri Jan 18th, 2008 10:08 am |
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Options expire today.... lets see how many "puts" go forward betting on the disaster train moving down the line of reality.... 
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Game_Over2007
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Posted: Fri Jan 18th, 2008 10:01 am |
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It doesn't make any difference what those losers in Congress and the village idiots sitting in the White House do today or any day there after because its to LATE! I've been telling you all what was going down and everyone down played it just like those in the know on Wall Street. While they were telling you not to worry, most of those same people pumping those "fuzzy math" numbers were sneaking out the back door with your money and now their right back opening up a new venue to get more from you. You can't fix this disaster on the horizon folks. TO MANY people got sucked into this credit mess and now you have to let it run its course and the sad part is many will go down and its not going to be pretty. Maybe you can thank your local "builders" here like the yahoos that developed Newels Creek and the green pipe farm behind Lowe's south of Camden. No money down and MOVE IN NEXT WEEK! Yeppers a great way to sell your homes slowly going into fore-closure! Now those same people are seeing their big SUV's and other luxury cars repossessed too! Just a trend all over the country and this is just the beginning of the dooms day scene I've been warning you about. You don't see those yahoos on here anymore preaching how great things are under George W Bush do you? Where did all those right wingers go? Maybe to get another job so they can pay their monthly expenses and try to survive. Another day coming and the falling knife is gaining speed.
Remember to smile today..... Its Friday and more fun on Wall StreetLast edited on Fri Jan 18th, 2008 10:25 am by Game_Over2007
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Fred
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Posted: Fri Jan 18th, 2008 02:41 am |
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I am not sure a stimulus package is going to do that much good, but I guess they feel the need to try...as well as using it as an excuse to ram through their pet programs. I fault both sides for this; the attempt to make the tax cuts permanent may or may not make sense, but I can't see how extending something that we already have is going to provide any additional stimuli. I am equally suspicious of giving x amount to SS receipients as well, although I am pretty sure that money will get right back into the economy, but it seems like a bribe to me....and one that they would certainly push to make permanent.
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CR Voter
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Posted: Fri Jan 18th, 2008 01:21 am |
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| I'm way beyond that dear. Sorry you woke up.
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Angel1965
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Posted: Thu Jan 17th, 2008 11:36 pm |
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| Angel of Death........ better start saving money and have at least six months of cash on hand....
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Game_Over2007
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Posted: Thu Jan 17th, 2008 10:19 pm |
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| The problem you also have is the commercial real estate market which is now showing signs of cracking and so here we are again. How many professional buildings do you need? Residential real estate inventories are at levels that the economy can't deal with now. We are in a recession no matter what those fuzzy math macro numbers tell the pundits in the know. The credit markets have to work this out and their will be causalities beyond your wildest imagination. The banks and wall street created this mess, now they have to fix it. Artificial life support can't fix it and don't bet on a stimulus package to help anybody except those sorry asses that created this mess.
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Fred
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Posted: Thu Jan 17th, 2008 07:19 pm |
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http://blogs.wsj.com/developments/2008/01/16/why-baby-boomers-may-bust-the-housing-market/
Basic point of the article is that the housing market may find it difficult to recover in a lot of areas for quite a while as baby boomers start to retire in force in 2011, and either want to downsize their homes, move to assisted living facilities, or move to Florida.
Now, I have a few issues with this...namely the assumption that this generation is like the last one in regards to wanting to downsize or move into a nursing home at 65. As has been pointed out already, this generation will tend to want to hang on a bit longer in the workforce, the primary thing being that they can do it. There is also an upside in that some housing prices (smaller homes that are closer to services...ie, homes in the city, perhaps) may well go up in price. The point remains, however, that we may be beyond the band-aid stage, and may be in for a real shake up in our economy.....no matter who is in charge
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Game_Over2007
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Posted: Thu Jan 17th, 2008 11:40 am |
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Just one more thing for the viewers and "nay sayers" of what I've been preaching for the last year or so. Think about what this all says for the "banks" you all thought we're your friends....
http://www.co.schuylkill.pa.us/Offices/Sheriff/SheriffsSaleFebruary15-2008.pdf
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Game_Over2007
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Posted: Thu Jan 17th, 2008 11:30 am |
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| The futures are up and maybe some more "dumb money" will jump in the today but tomorrow its "options expirations" so we'll see how many have brass balls to stay the course. More downside to come. S&P 500 needs to drop more and maybe go to 1250 for a real bottom. Last edited on Thu Jan 17th, 2008 11:30 am by Game_Over2007
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Game_Over2007
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Posted: Wed Jan 16th, 2008 05:24 pm |
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Fred its amazing to see people stepping up to the plate still wanting to buy and move up with regards to their homes. I don't know how far you are from those retirement years but going into retirement you need to position yourself with no "debt" and that issue can't be compromised. I retired early and I planned well for my retirement based on the investments I had and paying off the three homes that I own. I've been lucky and I do feel sorry for those out there who are really trying to make it work but the sad part is we have a culture of greed and those real estate brokers in our area pushed their never-ending "BS" to the limits when they catered to the influx of retirees coming from New Jersey and the other surrounding states with their greedy practices driving up prices to a level thats not "real". Housing prices will depreciate at least seven percent this year and probably another seven percent next year. This mess is not going away anytime soon and if these other issues related to the derivative credit markets starts to surface, we'll have that nightmare others don't want to talk about and you wont ever hear any of those idiots on FOX Noise talk about it for sure.
Scenario: Credit card debt being hedged?
A possible situation where the financial markets plunge into chaos if the massive derivatives positions owned by hedge funds and the large banks were to move against those parties.
Institutional investors have increasingly used derivatives to either hedge their existing positions, or to speculate on given markets or commodities. The growing popularity of these instruments is both good and bad because although derivatives can be used to mitigate portfolio risk. Institutions that are highly leveraged can suffer huge losses if their positions move against them.
A number of well-known hedge funds have imploded in recent years as their derivative positions declined dramatically in value, forcing them to sell their securities at markedly lower prices to meet margin calls and customer redemptions. One of the largest hedge funds to collapse in recent years as a result of adverse movements in its derivatives positions was Long Term Capital Management (LTCM).
Investors use the leverage afforded by derivatives as a means of increasing their investment returns. When used properly, this goal is met. However, when leverage becomes too large, or when the underlying securities decline substantially in value, the loss to the derivative holder is amplified. The term "derivatives time bomb" relates to the speculation that the large number of derivatives positions and increasing leverage taken on by hedge funds and investment banks could lead to an industry-wide meltdown.
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Fred
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Posted: Wed Jan 16th, 2008 03:21 pm |
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Do you think that an upcoming recession, while bad for some, will provide some opportunities for others?
I'm not rooting for one, nor do I think the American business climate or the average American person is in a position to take advantage of it....but don't you think there will be some winners?
For instance....I've been in my house for almost 20 years, and am thinking of moving (sorry, guys, it will still be in the area). I know my house has gone up in value...maybe it has lost some, and it might lose a bit more, but so will the houses I was thinking of moving up to...probably more so, in fact. If someone has invested relatively conservatively, they should be in a good position to take advantage of some deals, right?
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Legends457
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Posted: Wed Jan 16th, 2008 11:57 am |
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This happened overnight........ more down side coming for sure.
http://biz.yahoo.com/ap/080116/world_markets.html
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Game_Over2007
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Posted: Wed Jan 16th, 2008 09:40 am |
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| WELL I GUESS I TOLD YOU SO IS ALL THE GAME HAS TO SAY TODAY. READ THE FINANCIALS AND WEEP TODAY. GET YOUR CRYING TOWELS OUT BECAUSE THE NEXT TWO QUARTERS WILL TELL THE TALE ! SELLING YOUR SOULS TO THE DEVIL PAID OFF ? REAL ESTATE BUBBLE AND NOW GREEN PIPE FARMS WITH NO HOMES BEING BUILT. OH YEAH IT WILL ALL TURN AROUND. NOT FOR A LONG TIME FOLKS BECAUSE THE PUNDITS OF KNOWLEDGE SOLD YOU OUT AND NOW ITS THEIR TURN TO PAY THE DEVIL. BET SOME OF THESE YAHOO DEVELOPERS AND REAL ESTATE MAGGOTS WISH THEY WERE SOME PLACE ELSE NOW. GREED HAS ITS WAY AT TIMES... HAHAHA.... ONLY IN AMERICA CAN THIS BE.....
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Game_Over2007
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Posted: Tue Jan 15th, 2008 11:40 pm |
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COUNTRYWIDE CEO.... A REAL AMERICAN CLASS ACT...... EXPOSED FOR THE THIEF HE REALLY IS....
http://money.cnn.com/2008/01/11/news/newsmakers/countrywide_mozillo/index.htm?postversion=2008011118
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CockRoachKiller
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Posted: Tue Jan 15th, 2008 09:54 pm |
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DomThong are you related to the "Game"???
I wonder if the Delaware Dept. of Economic destruction and the Gov will keep funneling our taxpaying $$$ into the DART Cash furnace?
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DomThong
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Posted: Tue Jan 15th, 2008 09:43 pm |
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| Have you noticed all the DART buses driving around with no passengers? With all the layoffs in this state why are they still driving?
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Game_Over2007
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Posted: Tue Jan 15th, 2008 01:53 pm |
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| CITI says that housing values will fall an additional 7 percent this year and another 7 percent in 2009. So lets see here, does that big FOUR wheel drive and all those other nice things you thought you needed really mean that much now considering you borrowed all that money against your HOME ATM machine? Only in America and this just gets better and better..... Last edited on Tue Jan 15th, 2008 01:54 pm by Game_Over2007
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Game_Over2007
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Posted: Tue Jan 15th, 2008 01:01 pm |
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What I've been saying all along has come to be and no matter what the others in the know seem to think, reality rules and this economy is facing some real tough issues when it comes to these sovereign funds bailing out the greedy little thieves who chose to screw the American people who trusted them.
http://money.cnn.com/2008/01/15/markets/stockswatch/index.htm
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Legends457
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Posted: Mon Jan 14th, 2008 10:28 pm |
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Sign of the times with more on the horizon GO........
http://money.cnn.com/2008/01/14/news/companies/sprint_jobs.ap/index.htm
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Game_Over2007
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Posted: Mon Jan 14th, 2008 11:32 am |
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From the Motley Fool... Countrywide take.....
http://www.fool.com/investing/dividends-income/2008/01/11/countrywides-school-of-higher-earning.aspx
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Game_Over2007
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Posted: Mon Jan 14th, 2008 09:33 am |
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| Well maybe we all need to pay our taxes in "banana currency" and feed those who created this mess. It's obvious they thought this all out for the end result. Ape has come a long way maybe? We need a banana bailout considering gold will be over $900 an ounce going into the next quarter. Send in the Clowns~ Last edited on Mon Jan 14th, 2008 10:13 am by Game_Over2007
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CR Voter
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Posted: Sun Jan 13th, 2008 09:44 pm |
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| It's what separates us from the apes.
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Game_Over2007
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Posted: Sun Jan 13th, 2008 06:54 pm |
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Well get ready Mr Taxpayer to give Bank of America a big TAX Write off compliments of YOU and ME. See how it works? Countrywide's CEO will get a severance deal worth over 85 to a possible 150 million dollars as he exits via a back door provision in his contract. So bend over and let the party begin...... ONLY IN AMERICA folks...
http://money.cnn.com/2008/01/11/news/companies/sloan_countrywide.fortune/index.htm
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Duncan Idaho
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Posted: Sun Jan 13th, 2008 06:03 pm |
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| Is anyone here suggesting that we are now ready to embrace socialism and let the government control everything? They're pretty close now but not close enough for some.
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Game_Over2007
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Posted: Sun Jan 13th, 2008 12:32 pm |
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http://money.cnn.com/2008/01/11/news/companies/citi_alwaleed.ap/index.htm
Here we go again! The Corporate Greed runs its course and now we have another Saudi yahoo coming to the aid of another financial nightmare. It just keeps on getting better as we sell our souls to the devil. When will we ever learn that we have to take care of our own problems and let them run their course. Maybe a few CEO's need to go to JAIL along with some of their bobble heads yes sir three bag full types who can't tell the truth. So glad I'm not in this next generation coming up because these young men and women have a lot on their plates for the future and its not going to be pretty. We have an INCOMPETENT CONGRESS and basically government all over the country running away from logic and common sense. What more can you ask for in a democracy? Corruption and Greed has about done us in and we have no more good paying jobs here because we "can't make" anything here anymore. The hell with two party system of government. We need working people to run this country and not the so called lawyers of privileged families!
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Bluesman
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Posted: Sun Jan 13th, 2008 01:12 am |
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CR Voter wrote: I need to check the weather forecast. G-O, Bluesman and I all agree on the same topic.........when did H..E.. double hockey sticks freeze over?
LOL
Nice to see that amid dissension we all agree on a basic.
CR
While we may not always agree on everything I think we have the basic core values that our parents taught us and we never strayed from them. I think having parents who grew up during the depression
As a personal example the custom built guitars I play cost anywhere from $3,500.00 - $5,000.00 each. I don't buy one until I have the cash to pay for them. If it takes me a year to save the money from my "allowance" then that's what it takes.
To many people have the philosphy "I'm not broke I have checks in my checkbook still"
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CR Voter
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Posted: Sun Jan 13th, 2008 12:54 am |
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I need to check the weather forecast. G-O, Bluesman and I all agree on the same topic.........when did H..E.. double hockey sticks freeze over?
LOL
Nice to see that amid dissension we all agree on a basic.
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Game_Over2007
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Posted: Sun Jan 13th, 2008 12:26 am |
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| The FED woke up recently and put some controls in place but the damage has been done. Predatory lenders are still advertising trying to suck those few left in but as the greed tale goes their day has come! Most have massive lay offs and will probably go into bankruptcy. If these financial wizards of greed had follow some sort of rules for lending we could have avoided a lot of problems. GREED JUST GETS TO THE BEST OF THEM AND THEN ITS ALL OVER. So now we face more government regulation which in most cases makes it worse. People who are losing their homes need to lose them. Corrupt CEO's like "Andy" boy from Countrywide will end up getting over 85 million in severance compensation along with the use of the corporate jet as he sneaks out the back door. I sure hope Bank of America rams it up his sorry ass and eliminates that golden parachute. CEO's seem to think they are above reproach creating these nightmares! ONLY IN AMERICA, so you have to love it and then laugh at our elected CLOWNS.
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Bluesman
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Posted: Sat Jan 12th, 2008 11:34 pm |
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CR Voter wrote: I want a lot of things to, but I only buy what I can afford and I make sure I'm getting what I pay for. Read the fine print and know what you're doing. If the company acts illegally, charge them and make them pay. If the rules are wrong, changes the rules for everyone.
CR absolutely, I think many families forgot to teach their children fiscal responsibility. When these children become adults they have no concept of how to live within their means. I am flabergasted as I am sure you are when you hear the rediculous amounts of personal debt that some people carry.
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CR Voter
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Posted: Sat Jan 12th, 2008 09:04 pm |
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| I want a lot of things to, but I only buy what I can afford and I make sure I'm getting what I pay for. Read the fine print and know what you're doing. If the company acts illegally, charge them and make them pay. If the rules are wrong, changes the rules for everyone.
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Bluesman
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Posted: Sat Jan 12th, 2008 04:26 pm |
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CR Voter wrote: Typical Democrat, Liberal blame placing. You can't regulate stupidity. I don't care to have a nanny state decide what I can and cannot do. No one was forced to come in and take out those mortgages.
Yes it is awful to think that these predatory types would invade our homes with mailings and phone calls and advertising. They promise more than they can deliver, and they hide a lot of detail in the fine print.
They don't sound much different from politicians.
Caveat Emptor!
You are right no one forced anyone BUT the fact remains these people wanted part of the American dream. Like everyone has said INCLUDING you these lenders preyed on these people. THAT IS WHAT NEEDS TO BE REGULATED.
Key Financial was one of the predatory lenders back in the 90's who pulled stuff like this. They would resell loans to other subsidiary companies they owned and bump the rates each time I knew people who were paying 17.5 - 21.0% interest for the mortgages.
That's loansharking in my book. But companies still get away with it.
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CR Voter
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Posted: Sat Jan 12th, 2008 12:47 pm |
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Typical Democrat, Liberal blame placing. You can't regulate stupidity. I don't care to have a nanny state decide what I can and cannot do. No one was forced to come in and take out those mortgages.
Yes it is awful to think that these predatory types would invade our homes with mailings and phone calls and advertising. They promise more than they can deliver, and they hide a lot of detail in the fine print.
They don't sound much different from politicians.
Caveat Emptor!
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Game_Over2007
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Posted: Sat Jan 12th, 2008 12:40 pm |
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Well said Bixby and I sure hope others realize this is no game when you play with peoples lives. This all runs deep for me because I feel the regulators allowed this filthy greed to run wild and never considered the checks and balances needed to ensure this wouldn't happen and it did. We all know a majority of the people who got wrapped up in this mortgage mess had no business buying a home. When the real estate brokers all over the country got on the "train of greed" you have the end results and this old man could care less if they sell another home. Mike Harrington and all his cronies can sit on the sidelines for awhile and think about what they did and what a mess they created.
Right now NOBODY cares about the real estate businesses and I sure in hell don't give a d**n about all the developments in limbo. This will take a few years to fix and their will be a lot of casualties as the end result. These local real estate brokers will have to wake up again because they made tons of money at the expense of people who just wanted a part of the so called American Dream and were sold a NIGHTMARE instead. Out of control growth and now you wonder why we let this greed continue like we did and its sad to say some towns and cities have over budgeted for all this growth and now they can't pay for what they "thought" would be as the tax base shrinks with foreclosures. Nice huh? You approved all this crap without any logic or common sense, so now you pay for your evil deeds. FACT and REALITY
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Bixby
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Posted: Fri Jan 11th, 2008 09:01 pm |
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Every Breath Bernanke Takes
For those of you who still place stock in what the Fed says as gospel, take notice that any effort to "rescue the poor homeowner" is a euphemism for bailing out the mortgage holders (banks), not the homeowner. Politicians and bankers have known right from the gitgo that lending policies were reckless, BUT the bankers KNEW BEFOREHAND that they would be bailed out. Wouldn't you lend with reckless abandon too if you knew a printing press stood behind you to buy any debt?
The House Committee on Financial Services under Rep. Barney Frank is directly to blame. No "IFs", "Ands", or "Buts"... but how can America which lacks consensus even recognize that the Fed & the Committee are on the same team!
Some of you are familiar with this video, but it's hilarious and really nails it down. "CBS" referenced in the production is an acronym for Columbia Business School.
http://www.youtube.com/watch?v=ipJTqCbETog
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Game_Over2007
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Posted: Fri Jan 11th, 2008 02:33 pm |
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Well it doesn't matter at this point in time what all these so called "saviors" try to do because what they need to do is to look in the mirror and blame themselves for allowing the "insanity" of an out of control real estate market to get so deep rooted that it sucked the essence of reality out from everyone who thought they were doing the right thing. Predatory lending and those who condoned it deserve what they get and I DO NOT want to see tax payer monies used to fix the out of control debt issues I had no part in and I want those who did this to be held accountable. Wells Fargo get ready for your enema! NO KY Jelly for you! Lawsuits coming and its not going to be nice. Your local Real Estate tycoons Harrington Reality and Jack Lingo at the Beach area..... get ready because your days are going to be very "UN-Rewarding" now and the greed you sucked out of Delaware has seen its better day. Go to your local drug store and get some KY Jelly.....
http://biz.yahoo.com/ap/080111/consumer_confidence.html
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Legends457
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Posted: Fri Jan 11th, 2008 02:15 pm |
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Reality here.... Yeah GO..... found these today
http://money.cnn.com/2008/01/10/news/economy/costofwar.fortune/index.htm
http://money.cnn.com/2008/01/11/news/companies/boa_countrywide/index.htm
http://money.cnn.com/2008/01/11/news/companies/merrill_writedown/index.htm
http://money.cnn.com/2008/01/10/news/economy/fed_bernanke/index.htm
http://money.cnn.com/2008/01/11/markets/stockswatch_ny/index.htm
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Game_Over2007
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Posted: Fri Jan 11th, 2008 09:55 am |
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Well just like I predicted, the dumb money is flowing into Countrywide as I knew it would when the yahoos from Bank of America said something about taking over Countrywide. Now the stock starts to soar after hours and then the people holding will SELL LIKE HELL and get out while the getting is good. Easy call and the bottom line is NOTHING HAS CHANGED!
We have TO MUCH UNCONTROLLED DEBT and the party is OVER for a lot of people who drank the Kool Aid these sorry asses sold them over the last four years. You can't fix this with an artificial FED Life Support system thats never been right since day one. YOU LET THE MARKETS CORRECT THEMSELVES AND THE MARKETS WILL DO WHAT THE MARKETS WILL DO AND YOU WILL HAVE CASUALTIES LIKE IN WAR. THE STRONG SURVIVE PERIOD. WE NEED TO LET THIS RUN ITS COURSE AND LET IT FIX ITSELF. THE FED HAS NO BUSINESS CATERING TO WALL STREET. SOVEREIGN FUNDS ARE LAUGHING THEIR ASSES OFF AT US AND GUESS WHAT? THEY HAVE EVERY RIGHT DOING SO BECAUSE FOR THE LAST TWENTY YEARS WE'VE ALLOWED OUR POLITICIANS ON BOTH SIDES OF THE ISLE TO SELL OUT AMERICA AND ALL ITS VALUES. THIS IS SERIOUS AND THE REAL ESTATE PUNDITS TELLING YOU EVERYTHING IS STARTING TO STABILIZE IS A JOKE. THEY HAVE ABOUT AS MUCH CREDIBILITY AS GEORGE WALKER BUSH AND THATS NOT VERY GOOD. GOD HELP US WAKE UP AND FACE REALITY.
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Vindicator
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Posted: Thu Jan 10th, 2008 09:39 pm |
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| Now that we are in the actual election year someone has to admit that we are already in a recession. If not, then surely we are teetering on one. So consequently, the political incumbents will be squealing like stuck pigs for the Federal Reserve to save their jobs by lowering the interest rates. The Wall street trough-feeders will join the chorus. The Fed will be able to do so because Americans no longer have the common sense to recognize inflation, instead trusting in the Government's CPI number of 2-3% to be "spot-on". The difference this time around is that you won't be able to service any new/additional debt because unless you get a sensational raise, you're going to need what you have (and more) to buy just what you and your family needs as a consequence of rising prices, primarily fuels and food. You had better forget that new wide screen LCD TV monitor, buy a wood stove and a chain saw and start cutting. Speaking of Countrywide, didn't Bank of America invest billions this past summer in their stock?
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Legends457
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Posted: Thu Jan 10th, 2008 01:06 pm |
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| I just heard one investment house talking about the current markets and some are calling for the S&P 500 index to drop to around 1250 before correcting in the late second quarter depending on the infusion of sovereign fund money where needed in the financial sectors. Not good if your still in the markets. Safe mode now.
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Game_Over2007
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Posted: Thu Jan 10th, 2008 09:00 am |
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Just a friendly word of advice for those of you contemplating extreme measures. DON'T DO IT! You've already lost it all. Next stop DCC and three meals a day.
http://money.cnn.com/2008/01/09/news/economy/birger_arson.fortune/index.htm
Is Countrywide going bankrupt? Can't get any better than this and the mortgage meltdown continues.
http://money.cnn.com/2008/01/09/news/companies/bofa_countrywide.fortune/index.htm
Recession already here?
http://money.cnn.com/2008/01/09/news/economy/recession/index.htm
Last edited on Thu Jan 10th, 2008 09:06 am by Game_Over2007
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CR Voter
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Posted: Wed Jan 9th, 2008 11:35 am |
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| GO, glad you're Conservatively invested, all of that speculative high flying stuff is for the Liberal members of the community. They say that a person invests their money in line with their politics. Have a good one...................................LOL
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Legends457
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Posted: Wed Jan 9th, 2008 11:35 am |
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Well this is what is coming next week so I can see Game's thing and sure hope the hell we don't have more problems coming.
http://money.cnn.com/2008/01/08/news/companies/bank_earnings/index.htm?postversion=2008010905
Last edited on Wed Jan 9th, 2008 11:35 am by Legends457
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Fred
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Posted: Wed Jan 9th, 2008 10:50 am |
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I'm not sure what the President that contributed towards the mortgage debacle. This is not like he instituted a new policy that had this; it was banks and people who lost common sense but kept the cycle going because they benefited from it. Nothing really has changed except the greed of the mortgage grantors to make a few extra bucks on investments that would have never passed the muster years ago.
It reminds me of the stock market in 1999, going into 2000. The Interent had changed everything, and stock prices were not ever going to fall....I remember serious people saying this. You had people who "had a system" which worked as long as the market kept going up (and they egged on each other), but lost it in the shorts when the market collapsed.
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Game_Over2007
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Posted: Wed Jan 9th, 2008 09:58 am |
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Voter, I'm mostly "conservative" in my portfolio but don't get the wrong idea there with my politics! Currently 50 percent cash for the next four to six months, holding three stocks paying around 9 percent in dividends, and just shorted two tech stocks. I hold no financial stocks. 401 is in government securities at 100 percent. That will change after the second quarter if we find a bottom in this nightmare economy going forward. The financial sectors will get "ugly" next week as more and more "stuff" creeps out of the woodwork and if CITI goes ahead with an additional 9 billion dollar write down. We may see another major sell off and it wont be pretty. Most who are in the know right now are seeing the S&P 500 going down to 1250 worse case scenario. I don't see things getting any better until these "liars" own up to their greed and pay for what they all created and thought would never end!
Predatory lenders were never controlled like banks and their creative ways created a real problem for those who will pay the ultimate price with foreclosure and major bad credit. What they did in creating a real estate market facade was nothing more than criminal and those who slipped out the back door got filthy rich! Houses became ATM machines for greed. Now those who fell for it all will pay and those of us who had enough logic and common sense will make lots of money as time passes. Its not that we are "greedy", we are just focused to see what most don't and thats the reality of the situation.
Have a great day and this does not mean we are friends. I like what we share here as a challenge to make your day miserable.
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CR Voter
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Posted: Tue Jan 8th, 2008 10:17 pm |
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| Fools and their money are soon parted........................... How are you invested GO? Taking some hits in the market?
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Game_Over2007
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Posted: Tue Jan 8th, 2008 10:03 pm |
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Sign of the times folks..... next week it really gets ugly with the financials reporting earnings..... 1300 maybe on the S&P 500 ?
http://biz.yahoo.com/ap/080108/countrywide_financial.html
http://biz.yahoo.com/ap/080108/wall_street.html
Denial? LOL
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Game_Over2007
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Posted: Tue Jan 8th, 2008 08:52 pm |
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| The S&P 500 broke support levels today at 1400. Home builders had bad numbers. More write offs coming with CITI. So ask yourself about your 30 yr mortgages and your ATM machine! Your house is slowly losing more and more value and your debt is slowly going higher and higher. Great combo for those of you in "duh mode" because your days are numbered. 30 yrs is a long time. NO MORE EASY MONEY AND ITS TIME TO PAY OFF THE PIPER. George W Bush's Goldilocks economy. I love it.
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Legends457
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Posted: Tue Jan 8th, 2008 03:42 pm |
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Well their seems to be "those in the know" think so but I'm not sure they can touch the guy because of some politics settled before the new Congress took over. I would like to see somebody charged with this war we have no business being in and hold them accountable like after WW II.
http://www.alternet.org/waroniraq/38604/
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