May 22, 2006
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A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
13 comments:
IMF: More Fed rate hikes may be needed
Mon May 22, 7:03 AM ET
VIENNA (Reuters) - The Federal Reserve may need to continue raising interest rates depending upon how economic conditions evolve in the United States, International Monetary Fund chief Rodrigo Rato said on Monday.
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Generally he said the withdrawal of stimulative monetary conditions globally is a "healthy movement" especially given that inflationary risks are to the upside. But central banks need to time moves based upon conditions in their own regions.
"I back the idea that the U.S. monetary authorities have done a very important job in getting to a more neutral monetary policy regarding their own economy.
"Still some measures might be needed in the future, but that will depend very much on the data on the strength of the U.S. economy," Rato, the IMF managing director, said at a news conference.
keith, i am so nervous for you..gold looks like will get killed..
keith, run.
keith - get out of COP too.......
How about this YAHOO headline?:
Campbell Soup 3Q Profit Rises 14 Percent
Is that from the soup kitchen business, which may be booming soon?
Banc of America lowers view on homebuilder stocks
By John Spence, MarketWatch
Last Update: 11:11 AM ET May 22, 2006
BOSTON (MarketWatch) -- Slowing home sales and falling home prices led Banc of America Securities analyst Daniel Oppenheim to lower his profit expectations and price targets for home builders.
Is that chart the nasdaq or GOLD!
"the market is cooling"
There is some real fun over on the YAHOO homebuilders stock message boards.
Here is a snip from one poor soul in AZ: (msg #2266 on the MDC board)
"I bought a house from Richmond American Homes
in March last year in Gilbert, AZ. The said the house will be finished in December last year. Then, they said it will be finished in Feb, then in Mar, then in April, then in May. Now, they said will be finished in June. I just can't believe it. They kept delay, delay, and delay. I have been kicked out of my rental in April because the owner want to sell his house. Now, I am living in a condo with month-to-month contract. I am afraid I will be kicked out at the end of June if the house is not finished by the time. Don't they have a plan? Can I sue them?"
The WLS homes board is also a barrel of laughs. They are saying "the general" is buying back the stock to go private and hide financial data.
Here is the list:
HGX,FRE,FNM,HOV,TOL,NVR,MDC,BHS,CTX,DHI,KBH,LEN,PHM,WLS,MTH,DHOM,BZH,JOE,MTH,RYL
Almost as much entertainment as this blog.
See this one Keith?
http://www.timesonline.co.uk/article/0,,2095-2189601,00.html
1987 poised to repeat? What about 1929?
for savvy hp readers - you'll remember that i'm all in cash except for my 2013 cop options, and small bits of appl, ebay, yhoo, sbux, ewc and ewj and short qqqq's
no gold, no silver, no nothing. waiting for an entry point on gold, silver, euros, qqqqs and anything else. cash is king
divostais giving away a PT Cruiser with a purchase in Tradition at port st lucie florida:
http://www.divosta.com/homefinder/
community.asp?
commorg_acctcode=3120&ss=
{37DAEDCC-043B-4227-84A5-F2EA671A2636}
I suppose keith has a point, being in cash if there's supposed to be a depression... I read one guy who recommends cash and gold/silver (both)... that's pretty much my idea for now
What gets me is the fact that the stock market plunged due to "a stronger dollar". What a joke. Everyone is pretending this overprinted paper has value. The longer the downward adjust takes to happen, the bigger the crash will be.
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