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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.
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77 comments:
Speaking of the real thing (gold), the metal of kings is doing rather nicely this morning...
Paulson re-activates secretive support team to prevent markets meltdown
By Ambrose Evans-Pritchard Last Updated: 12:09am GMT 30/10/2006
Monday view: Paulson re-activates secretive support team to prevent markets meltdown Judging by their body language, the US authorities believe the roaring bull market this autumn is just a suckers' rally before the inevitable storm hits.
Hank Paulson, the market-wise Treasury Secretary who built a $700m fortune at Goldman Sachs, is re-activating the 'plunge protection team' (PPT), a shadowy body with powers to support stock index, currency, and credit futures in a crash.
Otherwise known as the working group on financial markets, it was created by Ronald Reagan to prevent a repeat of the Wall Street meltdown in October 1987.
http://tinyurl.com/yxr8gs
Keith,
What do you make of the discrepancy between what the REIC continues to spout about NYC:
http://tinyurl.com/y4oh3v
and what the numbers are saying:
http://tinyurl.com/y8ghbr.
Is Housingwatch.com accurate? If so, looks like 16% decline in asking prices in NYC in 10months.
Good reference to Dathan
anyone think the republicans would just love the market to crash the day after the election so that the american people will forever think that democrats are horrible for the market, and their pocketbooks?
anyone think the market will indeed crash the day after the election?
dems take house and senate, by more seats than even forecast, it's a done deal.
Evil Credit Card, Can't!!.. Resist! ..must..! spend!!..WALMART!!!!!!!!!!!!!!
Uranium stock will be shooting to the sky also there m8's with the Cigar Lake Mine flooding..you just might make a nice increase in the profolio, at $60 a pound that might be considered a bargin ATM.
http://www.caseyresearch.com/
As I recall, the market did crash shortly after the Republicans secured the presidency in 2000.
The Democrats have a reputation for "wasting taxpayer money on social programs" but if we had Democrats in office instead of Bush, all of that money that went to Iraq would have went to improving the social infrastructure of the United States and we would be all the more prosperous today.
Do you think Republicans are the guardians of fiscal responsibility? Well they certainly talk that talk, but at least the current Republican administration has not walked that walk.
This guy Bush is squandering the wealth of this nation like a college kid with his first credit card!
If H. Ross Perot, Dan Quayle and George W. Bush were running for president I would carry a sign that said "anything but Bush."
What he is doing is absolutely criminal and the only way to stop him is to vote for DEMOCRATS this election, even if you hate them. Even if you are a die-hard conservative, you should vote for the Democrats this time around to send a message to the Republicans that they wont win another election until they stop acting like tax-and-spend liberals!
Thinker sed:
"but if we had Democrats in office instead of Bush, all of that money that went to Iraq would have went to improving the social infrastructure of the United States and we would be all the more prosperous today."
So the democrats never wanted to go into Iraq and if they were in charge now we would pull out tommorrow? BWAHAHA!!!
Visa - everywhere you don't want to be when the housing ATM runs dry...
>> The Democrats have a reputation for "wasting taxpayer money on social programs" but if we had Democrats in office instead of Bush, all of that money that went to Iraq would have went to improving the social infrastructure of the United States and we would be all the more prosperous today.
God help us if there are millions of Americans who think this way. BOTH parties have ruined this country.
Republican = Coke, Democrat = Pepsi.
That's right - what's the diff?
It's time for a (hopefully peaceful) revolution, as BOTH parties have failed us.
Not to threadjack, but do you seriously believe that were the democrats in power they would pull out of Iraq and leave that oil for whomever comes along? Do you really believe that? What democrat has run on the platform of "leave Iraq now!". Tell me one.
"If I want to buy a palatial estate what do you care? I have to heat and cool it and pay taxes and maintenance. If I want to drive a gas guzzling SUV leave me the hell alone. I have to pay the gas bill."
Umm, that would be true if the world was only about microeconomics but it's also about macroeconomics. Destroying the environment to get your palace is a crime against the environment and supposedly freedom lovers are "moral people" who allocate their freedom to thinking about the welfare of the world.
"Everyone who hasn't read Capitalism and Freedom should go get a copy because there seem to be a large number of people who have no problem with giving away their freedom."
Your kind of reckless lifestyle means others are enslaved cleaning up your mess!
1/3 of the mammals are now extinct, the oceans are polluted, the air we breathe-- polluted, the wetlands-- mostly destroyed, old growth forests? mostly gone, etc...
"Go vote, that'll fix it. ;-) "
Mark why do you post here?
...if it is to stroke yourself - do it on your own blog.
The Iraqi Adventure was "GUNS or BUTTER" moment for the NeoCons as WAS the Lowering of the Prime Lending Rate to near 1% a Monument to Stupidity. The Iraqi War, Consumer Debt and the economics of the US Housing Market are NOW consuming this Nation.
GOP PRE 911 PRIORITIES were to dismantel Social Security, Medicare, REWRITE the Bankruptcy Laws and Ban Gay Marriage BEFORE making SADDAM the National Bogeyman and a War PROFITEERING American Expense.
THIS republican administration CHOOSE to SPEND and WASTE the US National Wealth and Future Taxpayer Monies on the IRAQ WAR and other Domestic LIES and Shenanigans!
Get ready for the next GOP Sponsored US RECESSION !
Richard, talk about stroke yourself, ha! Why don't you tell us about your latest conspiracy theory?
Keith, Richard's being a dick, could you please delete some more of his comments?
play nice mark and richard, or I'll have to cancel recess
Our Father who art in plastic Master Card be thy name.
So Mr. Marky Mark - what conspiracies do I buy into??
...please all knowing one - make a list - number them - and don't forget to put your name in the top right corner for full credit.
A conspiracy theory attempts to explain the ultimate cause of an event (usually a political, social, or historical event) as a secret, and often deceptive, plot by a covert alliance of powerful people or organizations rather than as an overt activity or as natural occurrence. Researchers who advocate the conspiratorial view claim that most major events in history have been dominated by conspirators who manipulate political happenings from behind the scenes.
The term "conspiracy theory" is usually used by mainstream scholars and in popular culture to identify a type of folklore similar to an urban legend, especially an explanatory narrative which is constructed with methodological flaws.[1] The term is also used pejoratively to dismiss claims that are alleged by critics to be misconceived, paranoid, unfounded, outlandish, irrational, or otherwise unworthy of serious consideration. For example "Conspiracy nut" and "conspiracy theorist" are used as pejorative terms. Some people who have their theory or speculation labeled a "conspiracy theory" reject the term as prejudicial.
http://tinyurl.com/yyunwp
CNNMoney:
Can the economy survive the housing bust?
Real estate downturns have a way of leading to recessions and stock market slumps. So far the damage has been limited, but the numbers keep getting worse, says Fortune's Jon Birger.
I don't use credit cards very much. They charge too much interest.
Does anyone remember Devestments gold prediction? It looks like the historic summer adjustment and winter rally is in play just like he said. Prepare to touch $900 oz.
Interested in a lengthy and scary explanation on how the fragile house of cards is looking financially, watch this:
http://www.businessjive.com/nss/darkside.html
(not suitable for 80IQ types, this is an hour long)
Mastercard's new motto:
Thou shall have no other gods before me!
Thinker, I really wish it was possible to vote the tools of the Jew out of office. Demo or repub, this no longer matters, we will be fighting wars for israel (not oil) untill we can cleanse our government of all jews and jew influence.
There are Democrats that voted to invade Iraq. There were also those who where opposed to the war from the start.
Now that we can look back and know for a fact that the invasion of Iraq was the biggest mistake since the United States entered the Vietnam conflict, those politicians who voted for the war should be replaced, preferably by those who were against the war.
Pulling out of Iraq now may or may not be the best course of action, and firing the Republicans wont bring back all of those dead servicemen and women (and Iraqi civilians) but those responsible for this mess should be brought to justice.
Mastercard's stock is up 16% this morning!
Great article in Bizweek about Capital One's strategy of issuing multiple credit cards to the financially unsophisticated in hopes they'll get themselves in a pickle and rack up late and over limit surcharges. They actually want their customers to fail! There should be a law...
F*ck you Anon! All environmentalists should be shot!
No one's going to care about the environment when there is a depression. Environmentalism is a religion for pampered, rich city-dwellers who have a Bambi-like view of nature.
That's what this country and the world needs is a depression.
Fuck loser species! They deserve to die out anyway. We should thank the American Indians for getting rid of the megafauna of the North and South American continents, by the way.
Here's a thought: maybe it's the system that's broken. Your 2-party system seems to polarize the debate and lead to an 'us v. them' mentality in both parties. Sure, the consensus-building required in a multi-party system or in a coalition government is a huge pain but it's a hell of a lot better than all this blaming and finger-pointing that American elections have now become.
Just a thought.
"They actually want their customers to fail! There should be a law..."
They want permanent debtors. And not just credit cards. All of the banks want us to pay interest and late fees forever because there is virtually no limit to the amount of credit they can create out of thin air.
If we compare the cash in circulation to the total debt (including derivatives contracts), the effective reserve ratio for U.S. banks and other lenders is about $800B/$340,000B, or 0.2%! In a crisis where cash suddenly becomes important and lenders demand payment, there are going to be some ugly and embarrassing defaults.
So much for that econ 101 textbook example of 10%...
Can the economy survive the housing bust?
Real estate downturns have a way of leading to recessions and stock market slumps. So far the damage has been limited, but the numbers keep getting worse, says Fortune's Jon Birger.
http://tinyurl.com/y8k9xa
The thinker says: "As I recall, the market did crash shortly after the Republicans secured the presidency in 2000."
As you recall? God forbid you do a modicum of research to check your recollection before posting that garbage.
Dow Jones Industrial Average
I sure don't see any "crash" after the 2000 election there. How about the NASDAQ you say:
NASDAQ
Nope, that went up too after the election until the inevitable correction in 2001.
Thinker said
"Pulling out of Iraq now may or may not be the best course of action, "
The scale of killing is already as bad as Bosnia at the height of the Balkans conflict. An apocalyptic scenario could well emerge - with slaughter on a massive scale. As America prepares its exit strategy, the fear in Iraq is of a genocidal conflict between the Sunni minority and the Shias in which an entire society implodes. Individual atrocities often obscure the bigger picture where:
* upwards of 1,000 Iraqis are dying violently every week;
* Shia fighters have taken over much of Baghdad; the Sunni encircle the capital;
* the Iraqi Red Crescent says 1.5 million people have fled their homes within the country;
* the Shia and Sunni militias control Iraq, not the enfeebled army or police.
It does not matter Thinker if we pulled out or not - the illegal war has accomplished what was intend - civil war so that the oil can be grabbed by fat - lazy - americans who are clueless about the death occuring now.
Sounds like the 80's movie "They Live", except they use subliminal messages on Dollar Bills..
richard, what country are you from?
jip,
Glad to see you like the classics.
Buzz - what country are you from?
did you serve in military from your country?
do you vote in your country?
do you donate your blood or volunteer time in the country you are from Buzz?
bugsy sez:
I'm guessing richard is one of those self-hating Americans. He is just a liberal loose lipped twat who doesn't walk the walk.
Yep, richard is a hypocrite and a loser, that's for sure.
"who doesn't walk the walk. "
Served 8 years hon. discharged from the USMC
Give blood once a year in November
Vote at every election.
Volunteer my time when I can.
how bout you? do you even know what a DD214 is...
Hey I think I hear your mom calling - better get now.
I've been reading richard's tripe for months, I still can't figure out what the hell he's talking about.
Yeah, richard is a stupid hack, that's for sure.
I won't even let him post on my blog.
Hey buzz saw, did you hear the one about the guy who pretended he was in the marines?
Yeah, something about a general discharge, don't ask don't tell, something like that. I didn't get all the details.
Boring Ben said...
I won't even let him post on my blog.
------------------
Being such a lame ass Joint I am Surprised anyone does.
If a stock market collapse after a Democratic victory causes Republicans to start focusing on the economy and what used to be their party platform of fiscal responsibility, instead of concentrating on their current bull snot platform of christianism, corruption, and incompetency...well, I would say that would be a good thing.
"Tom said... I sure don't see any "crash" after the 2000 election there."
Uh, Tom, the election was held in NOVEMBER 2000, and Bush & Co took office in January 2001. Remember?
And crash the market did
I Googled Richard and found this link. Bone appetit! Hahaha!!
I Googled Richard and found this link. Bone appetit!
-----------------------
Ehem! If I may interject! Mitch!
Hahaha!!http://tinyurl.com/ycbyqt
borkafatty, that is funny!!
keith says: "Uh, Tom, the election was held in NOVEMBER 2000, and Bush & Co took office in January 2001. Remember?
And crash the market did
1. The claim was the market 'crashed' after the election, not after inauguration as you're saying, but okay ...
2. The 'market' did not go down significantly until September 2001, which had nothing to do with the election or inauguration, but another even that occurred in September 2001. The correction in the NASDAQ that began earlier in 2001 was the tech bubble bursting, but that did not affect the entire 'market' as evidenced by the DJIA, S&P 500, or other indices that represent the overall market (which the NASDAQ does not).
There are plenty of legitimate criticisms that can be leveled against the Republican Party (and I'm saying that as a Republican myself), so I don't understand why you'd want to start fabricating crticisms such as this.
No wonder gold is so happy. The plunge protection team, like all Ponzi preservation plans, has but one weapon in its arsenal: the printing press.
OK, HP'ers, mock me or not.. I bought 1000 shares of GLD this morning
I just want to protect what I have and the US$ is making me really nervous right now
Don't you have your money in pounds yet?
Hey Fuckers - Keith already posted me - 127 comments - 2nd highest on HP.
Hey Bork - Fuck off bitch...I use to think you were not a tool.
Seriously Keith, living in the UK and keeping your assets dollar denominated is really going to suck for you over the long haul. Not advice, but if you really believe that peak oil stuff I would wonder why you aren't buying gasoline futures right now. The downside is limited, IMO.
Buy the real stuff. People like Bernanke and Paulson f--king hate it when you do that.
Probably a good move, Keith, though your all-in style of purchasing is probably in the end increasing your risk more than your returns. Pick something you want to own for the long haul, then dollar cost average your way in. Most assets except Real Estate allow for this strategy, which can protect you quite well from temporary downturns, give you a lower cost basis, and fight your urge to sell at the first sign of trouble. If you'd been dollar cost averaging into gold all summer, think of what you could have purchased it for.
Not trying to preach or anything, just offering some helpful advice from someone who took many years and failed attempts to beat the urge to market time.
anyone think the republicans would just love the market to crash the day after the election so that the american people will forever think that democrats are horrible for the market, and their pocketbooks?
anyone think the market will indeed crash the day after the election?dems take house and senate, by more seats than even forecast, it's a done deal.
++++++++++++
Absolutely agree. And most people are so dumb they will believe the crash really IS the fault of the Democrats!
Here's a thought: maybe it's the system that's broken. Your 2-party system seems to polarize the debate and lead to an 'us v. them' mentality in both parties. Sure, the consensus-building required in a multi-party system or in a coalition government is a huge pain but it's a hell of a lot better than all this blaming and finger-pointing that American elections have now become.
+++++++++++++
Absolutely agree with you. It's my belief that the Parliamentary system is the only one that works in a democracy. IMHO, America's two-party system leads to deadlock.
Anonymous,
we already have a parliamentay system, it is called the democratic party. The republicans stand united or they fall because only that srategy can keep all the loonies in line, i.e. the christian snake handlin' poison drinkin' fringe.
can keep all the loonies in line, i.e. the christian snake handlin' poison drinkin' fringe.
My people have been persecuted by the demonrats throughout our entire history. Repent or perish in the everlasting lake of fire.
Hey Bork - Fuck off bitch...I use to think you were not a tool.
-------------------------
hold on a moment what did I do ?..if anything I was helping you out richard ..go back an re-read the post there brother.
dorkafatty likes dick, I shoulda figured.
Keith said:"OK, HP'ers, mock me or not.. I bought 1000 shares of GLD this morning
I just want to protect what I have and the US$ is making me really nervous right now"
The US$ is going to crash. I'll applaude you instead for buying some GLD this week!
dorkafatty likes dick, I shoulda figured
Isn't it past your bedtime?
keith said...
OK, HP'ers, mock me or not.. I bought 1000 shares of GLD this morning
I just want to protect what I have and the US$ is making me really nervous right now
----------------------
I think it's a good idea. An even better idea would be to decide on an asset allocation (e.g., 10% in gold & silver, 10% in T-Bills, etc...) and stick with it, making gradual adjustments, instead of trading in and out all the time.
If you have (say) 10% in gold and it skyrockets (like when in went to $730 earlier in the year), you can take some profits to pare back to 10%. Similarly, if it drops, you can buy more to bring yourself up to 10%. That way you will tend to buy low and sell high.
Seems like a reasonable way to go, unless you really believe in all that technical analysis voodoo.
The way things are going with the dollar and other fiat currencies, it would be crazy NOT to have some money invested in precious metals.
In all likelihood, the US is entering a stagflationary recession. Not so good for stock prices, bonds with negative real yields, and overvalued real estate. Great for real money a.k.a. gold.
Credit cards are great if you use them the right way. You get convenience and the ability to defer payment for your purchases for about a month. If you pay off your balance each month, there are no interest charges, and with many cards you accumulate rebates. Why is doing this so hard for probably 90% of credit card users?
My apologies Bork - got a little carried away.
I swear - these boggies get harder and harder to blast without taken out some friendlies.
Peace
"the bilderbergs will call the shot, just like always"
I would only add the Illuminate, skull and bones, CFR, IMF, and Bohemian Grove.
The dollar is in a tail spin...just as planned.
how does an unknown peanut farmer from georgia (carter)become pres. how does an unknown gov. from ark. (clinton) become pres. answer--- because that is who the bilderbergs chose, just like many pres. befoe them. THEY DO AS THEIR TOLD.your vote means nothing.don't even waste your time.
------------------------
How do I sign up for this bilderberg thing? It sounds pretty cool.
If you pay off your balance each month, there are no interest charges, and with many cards you accumulate rebates. Why is doing this so hard for probably 90% of credit card users?
I agree, that's how we use CC cards too.
All these other poor saps just want too much stuff - all right now. "Champage taste on a beer budget" is what my mom use to say.
Anon (Wednesday, November 01, 2006 7:12:44 PM) wrote:
“We should thank the American Indians for getting rid of the megafauna of the North and South American continents, by the way.”
-----------------
Umm, excuse me, but isn’t referring to the prehistoric inhabitants of these continents as “American Indians” sort of like to referring to the French as Neanderthals?
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