Cyprus-Forum.com

[Kikapu]

Who exactly is going to take the role of government on after this weekend Kiks??? It is either going to be a 700, billion dollar in debt maybe more, or in deep recession.....It looks like I might have been wrong..Perhaps Obama might win after all......Why not make the first bllack president take the blame and flack for the next four years until a white one comes along and makes it all go away.....

I have already stated a while back on "Calling Dinos" thread, that the economy has become the "Perfect Storm" for disaster, and if you think this is just effecting the USA only, you have another thing coming Zan. The 700 Billion bail out or not, we are in for a big ride, all across the globe. The American consumers has been blind and stupid to have taken on more than they could chew with these debts that they have accrued, but Financial institutions around the world have also been blinded by their GREED on allowing these stupid consumers to get what they asked for, even if they could not afford it. We will all pay the price now, including you Zan.

As for Obama being cursed and blamed for the failed economy while he is in office, then you must have subscribed to Hillary's "Right Wing Conspiracy" theory accusation of the Republicans.

I think that Zan may have a point here. The bailout that's being debated is only going to undermine the economy in the long run because it means that taxes will have to increase drastically. It's a shit-load of money that will only delay the inevitable, pushing a meltdown into the next presidency. This is what the Bush admin has become. He's screwed everything else up, and now has a huge economic cluster-F on his hands. Why else would he try and push this bailout as he is?

The bottom line is that Bush is trying to push the worst of the crisis to the next presidency - he doesn't care who that would be. Just my opinion.

Personally, I'm against any bailout for two reasons - it's not going to work, and if they do it, nobody is going to learn anything from it. It's the voters that repeatedly put the folks that cause these problems into office. So if it takes lost homes / life savings or shanty-town living to teach people a lesson or two, then I'm all for it. Perhaps if people feel a sufficiently intense amount of pain that they, themselves, are responsible for, they might think twice about who they vote for next time around.

Dinos,

Listen man, were you placing "short" on Lehman Brothers and Washington Mutual couple of weeks ago, because you said that within a short time those two financial institutions were going to be TOAST, and they are.

Don't make anymore predictions Dinos, because you are BAD NEWS to the financial markets man.!

[zan]

Who exactly is going to take the role of government on after this weekend Kiks??? It is either going to be a 700, billion dollar in debt maybe more, or in deep recession.....It looks like I might have been wrong..Perhaps Obama might win after all......Why not make the first bllack president take the blame and flack for the next four years until a white one comes along and makes it all go away.....

I have already stated a while back on "Calling Dinos" thread, that the economy has become the "Perfect Storm" for disaster, and if you think this is just effecting the USA only, you have another thing coming Zan. The 700 Billion bail out or not, we are in for a big ride, all across the globe. The American consumers has been blind and stupid to have taken on more than they could chew with these debts that they have accrued, but Financial institutions around the world have also been blinded by their GREED on allowing these stupid consumers to get what they asked for, even if they could not afford it. We will all pay the price now, including you Zan.

As for Obama being cursed and blamed for the failed economy while he is in office, then you must have subscribed to Hillary's "Right Wing Conspiracy" theory accusation of the Republicans.

I have been worried about what is going on right now for a long time Kikapu. I dismissed it because I am no financial wizard or even work in the trade......I thought these idiots knew what they were doing.....They simply do not.....The fact that we all have to pay for their mistakes goes without saying....To blame the end consumer is futile as far as I am concerned. People see the economy running away with itself and on the word of the experts try to keep up so that they do not fall so far behind that they have no chance of catching up.

What I do Kikapu is see a dynamic world in which these guys who keep telling us they know what they are doing, react to changes as we do. They make money when it is easy to make money, if you are in the right trade, and stick out their chests and tell the rest of us they are clever. I do not pity them now that their bubble has burst but I do know that we have to do all we can to save the situation because we will suffer even more if we do not. A 30's style recession is unthinkable.

[Kikapu]

Who exactly is going to take the role of government on after this weekend Kiks??? It is either going to be a 700, billion dollar in debt maybe more, or in deep recession.....It looks like I might have been wrong..Perhaps Obama might win after all......Why not make the first bllack president take the blame and flack for the next four years until a white one comes along and makes it all go away.....

I have already stated a while back on "Calling Dinos" thread, that the economy has become the "Perfect Storm" for disaster, and if you think this is just effecting the USA only, you have another thing coming Zan. The 700 Billion bail out or not, we are in for a big ride, all across the globe. The American consumers has been blind and stupid to have taken on more than they could chew with these debts that they have accrued, but Financial institutions around the world have also been blinded by their GREED on allowing these stupid consumers to get what they asked for, even if they could not afford it. We will all pay the price now, including you Zan.

As for Obama being cursed and blamed for the failed economy while he is in office, then you must have subscribed to Hillary's "Right Wing Conspiracy" theory accusation of the Republicans.

I have been worried about what is going on right now for a long time Kikapu. I dismissed it because I am no financial wizard or even work in the trade......I thought these idiots knew what they were doing.....They simply do not.....The fact that we all have to pay for their mistakes goes without saying....To blame the end consumer is futile as far as I am concerned. People see the economy running away with itself and on the word of the experts try to keep up so that they do not fall so far behind that they have no chance of catching up.

What I do Kikapu is see a dynamic world in which these guys who keep telling us they know what they are doing, react to changes as we do. They make money when it is easy to make money, if you are in the right trade, and stick out their chests and tell the rest of us they are clever. I do not pity them now that their bubble has burst but I do know that we have to do all we can to save the situation because we will suffer even more if we do not. A 30's style recession is unthinkable.

Not too much I can add to your post Zan.!

[dinos]

Dinos,

Listen man, were you placing "short" on Lehman Brothers and Washington Mutual couple of weeks ago, because you said that within a short time those two financial institutions were going to be TOAST, and they are.

Don't make anymore predictions Dinos, because you are BAD NEWS to the financial markets man.!

I don't take short positions on equities because if you make a mistake, you can get really screwed. It's one of my rules - even if it's a no-brainer and there's blood in the water, no short positions. Part of the rally last week / week before was due to the SEC ban on short positions - a bunch of folks were covering their shorts in affected companies. I was, however, out of Lehman in March and did well by not listening to the "everything is OK" crowd. These days, you do quite well just by not getting pantsed.

As a very, very long term prediction, JPMC is the place to be (I don't own any). They picked up Bear in a "shotgun wedding" with lent money that they're not obligated to pay back, and just scored WaMu for pennies on the dollar (another shotgun wedding). When the dust settles, there are only going to be two or three major banks left - JPMC, Goldman (just became a bank holder last week) and I'm not sure the other one yet. It'll be interesting to see how this goes down in the next few months.

[dinos]

Kikapu,

The reason I sold Lehman was one of their idiot analysts on TV calling someone a communist in response to a question. If they were employing people that shamelessly stupid, then I figured they lost the game. I closed my position 5 minutes later.

Fuck them - turns out, I was right.

[Kikapu]

Dinos,

Listen man, were you placing "short" on Lehman Brothers and Washington Mutual couple of weeks ago, because you said that within a short time those two financial institutions were going to be TOAST, and they are.

Don't make anymore predictions Dinos, because you are BAD NEWS to the financial markets man.!

I don't take short positions on equities because if you make a mistake, you can get really screwed. It's one of my rules - even if it's a no-brainer and there's blood in the water, no short positions. Part of the rally last week / week before was due to the SEC ban on short positions - a bunch of folks were covering their shorts in affected companies. I was, however, out of Lehman in March and did well by not listening to the "everything is OK" crowd. These days, you do quite well just by not getting pantsed.

As a very, very long term prediction, JPMC is the place to be (I don't own any). They picked up Bear in a "shotgun wedding" with lent money that they're not obligated to pay back, and just scored WaMu for pennies on the dollar (another shotgun wedding). When the dust settles, there are only going to be two or three major banks left - JPMC, Goldman (just became a bank holder last week) and I'm not sure the other one yet. It'll be interesting to see how this goes down in the next few months.

Bank of America will be the third Bank to ride out the storm, Dinos.

[dinos]

Hey, Kikapu--

With financial indexes down significantly today, it's too bad that there aren't any shorts coming in to cover their positions, lending some support to the markets. Remember - shorting was banned by the fools at the SEC. These people clearly have no concept of what they're doing at this point.

[dinos]

http://www.washingtonpost.com/wp-dyn/co ... id=topnews

Apparently, McCain is starting to get desperate with a 338-185 EV deficit and is about to turn up the heat on Obama. I suppose he wants to become president before his last toenail turns yellow.

Maybe Obama will offer him a nice big bowl of "Cream of Wheat" on Tuesday...

[Filitsa]

Dino, Kikapu, are you liquidating your portfolios to invest in T-bills?

[dinos]

Speaking for myself, selling into rallies and staying in cash because we're now in a structural bear market. There are only two exceptions to this. IMHO, dow is going to 9,000 - possibly lower, and when it departs from there is anybody's guess. The only fixed income I'll dabble with are munis. Eventually, some markets outside the US will start improving; it's just a waiting game to see which ones they are.

We had the lesson from the Japanese lending problems a decade or so ago where the government helped out the banks and the Nikkei hasn't moved since. Wise people learn from the mistakes of others. Only idiots think that the results will be different if they repeat the same mistakes. Welcome to the US government.

The right thing to do with the credit crisis was to let the banks fail, let the markets beat everybody sily, fix the regulatory issues that led to the problem and let everybody move on. But in an election year, every politician wants to look like a knight in shining armor.

We're in for a long ride, Filitsa.