May 03, 2008

Time for the running of the bulls on Wall Street?


Has Helicopter Bernanke successfully engineered the beginning of Next Great Bubble? He told us what he was going to do, and then he did it. Screw moral hazard, it's too-low-rate party time.

Bubble after bubble after bubble.... How else are Americans supposed to make money?


And remember, houses are not stocks. It's the P/E stupid. It's always the P/E.

Invest wisely.

Drudge: Buffett Says Worst of Crisis Over for Wall Street, Individuals May Suffer...
May 3 (Bloomberg) -- Warren Buffett, chief executive officer of Berkshire Hathaway Inc., said the global credit crunch has eased for bankers, and the Federal Reserve probably averted more failures by helping to rescue Bear Stearns Cos.

``The worst of the crisis in Wall Street is over,'' Buffett said today.

26 comments:

Anonymous said...

wanna bet?

Edgar Alpo said...

Yeah, Wall Street is fine, Main Street is effed in the corn hole.

Dragonsbane said...

The markets will do what they will and Bernanke is more of a side show, spitting in the wind. If he really wanted to start a bull market, he'll need to do a lot more than he has done.

BTW - This is the first "bottom" I've ever seen where everyone managed to call the bottom at the same time. The pendulum swings one way and then it swings the other. I'll bet dollars to donuts that when it swings back the other way everyone will be caught offside.

Anonymous said...

Things are back to normal

http://tinyurl.com/5k7q9d

A storm that never came. Watch the stock market take off now....

I am going to buy me a house at 25% off, don't care if it fall further..... because all of us will in trouble then.

Anonymous said...

My Money Market accounts now earn less than inflation. I am putting it all into stock indexes and high yield bonds within next few weeks.


S&P, QQQQ have very bullish charts

corvinus said...

Dead cat bounce.

Anonymous said...

It depends on the ARMs. The famous CSFB ARM reset chart shows a huge wave of ARMs resetting this spring, which would lead to foreclosures in the fall. Did those FB's already abandon their debtboxes last year when they couldn't refi or sell? Then we have another wave of ARMs resetting in 2009.

Anonymous said...

There should be a national association of used car salesmen to lie about how it's always a great time to buy a used car.

Anonymous said...

I got my stimulus check today too, so all is right in the world.

Anonymous said...

I don't believe Buffet for one second. Read Market Ticker to find out why:

Market Ticker

Anonymous said...

Believe what you want. Obviously things have been going downhill in the housing market for the past two years, that is the main reason the economy is suffering.

I ask you,, What new stimulus as physical, and material, in actual US production is going to provide jobs and economic relief to even come close to that runnup.

We could try to sell the tapped out sheeple Ipods, a new tech gadgets, maybe some new computer program? And there is always credit for those that can't afford it just yet.

We're in for a tough time boy's and girl's.

yu been skooled said...

FLASH: HPers think they're smarter than Warren Buffett. Claim the Fed bailout of Bear Stearns was for "banker buddies", contrary to Buffett's (and Shiller and many others) claim it was necessary to avert disaster.

Amazing how easy it is for bald, fat, hairy, masturbatory HPers can sit in the basement of their mom's house and proclaim prescience far beyond the richest human on earth.....

In other news: HPers proclaim the knowledge of the universe, ask cult members to drink Kool-Aid in preparation for mothership.

Anonymous said...

US Farmers Give Up Fuel, Use Mules
http://www.liveleak.com/view?i=1c6_1209738332

Agent 99 said...

Warren Buffett is a market maker. If he can just get gold and silver to drop another 20%, he'll swoop in and make a killing.(I actually like Warren Buffett, but he's up to something.)
PS to You been skooled said:
Thin
Blonde
Homeowner (no basement at all)

Anonymous said...

"Amazing how easy it is for bald, fat, hairy, masturbatory HPers can sit in the basement of their mom's house and proclaim prescience far beyond the richest human on earth"

FYI!
I bought my mothers house for her..

Anonymous said...

I am going to buy me a house at 25% off, don't care if it fall further..... because all of us will in trouble then.

You can't really be that stupid can you? The stock market is already wildly overvalued. FYI - We are already in a recession in case you haven't been paying attention and the housing crash has only just begun.

I mean how dumb do you have to be not to see that this has only just begun when the drop in housing prices has actually been accelerating. Very basic mathematics here buddy - you won't see a turn in the housing market until we reach that inflection point and we're a long way off from that.

But hey, I guess you're just one of the left-over Kool-Aid drinkers that couldn't wait to buy because "they're not making any more land" right?

Man, do we get some wild examples of douchebaggery on this site!

Anonymous said...

-Amazing how easy it is for bald, fat, hairy, masturbatory HPers -





this has to be a state prisoner with a sick sexaul fantasy
i didnt know the state prisons allowed inmates to use computers for sex pleasuer
yu been skooled is a smart one he stole the janitors keys to the computer room

Stuck in So Pa said...

You never LISTEN to what Warren Buffet says, but you DO like he does.

Example #1: Buffet says, "Widgets have performed fantastically in the last six months."

Result: Buffet wannabees go out and buy widgets.

Translation of example #1:"widgets have performed fantastically in the last six months. I got in early, made my big bucks and have now gotten completely out of widgets. Widgets will probably go up even more, but then they will tank to the ninth pit of hell. Good luck! Suckers"

SpiceUpYourPortfolio said...

This is a high level of deception. They really want to suck as many people as possible into the stock market and then tank it. Nothing has changed fundamentally. Foundation is still cracking underneath our collective feet. We could all just wake up one day and the Dow is down 1000 points!!! Just use this bull period now as a "gift and start re-alligning our portfolio smartly.

Anonymous said...

Amazing how easy it is for bald, fat, hairy, masturbatory HPers can sit in the basement of their mom's house and proclaim prescience far beyond the richest human on earth.....


Every major industry in this country has collasped. You have not seen one tenth of forclosures that are coming. No one is even admitting globalization caused this mess, ergo I have no reason to believe this mess will magically disappear. As for insulting my housing panic brethren, beeeeoooch. I will not attempt to insult you as your post is an indication your retarded and I do not abuse the mentally challenged.

Anonymous said...

A good friend of mine's mom just retired in December 07, and everything was fine at first, she assumed she could live off her retirement (401k) and social security very easily...

However, just 4 months later she now says she won't be able to make it financially because her 401K lost money, and now here HOA wants all the homeowners to pay $12,000 for a botched community roof job, which needs to be redone.

She is now considering a reverse mortgage. She refi'ed her place a couple of times and only bought it in 1997- hardly any equity left I imagine. I don't believe she will qualify to do a reverse mortgage.

She is so screwed.

I know this women personally, and for the past 10 years she was paid a lot of money here in the bay area, but she never diligently saved and now 4 months after she retired, she realizes she can't make her mortgage payment and live on her depleated 401k earnings and SS.

I'm sure there are many more recent retiree's in her same position.

Anonymous said...

agree with Corvinus - we are staring at a dead cat bounce.

I'll add: in both stocks and housing.

LauraVella said...

I remember in the early 1990's the realtors for years were saying it was a good time to buy.

The housing market didnt stop falling until 1996 - thats six long years of negative appreciation.

How many years will housing prices decline this time around???

Anonymous said...

A friend of mine is considering do a adjustable refi on her home here in the bay area because her 'financial advisor' told her that only poor people are debt free!

He told her that she needs to keep refinancing her home and only make the minimum payments via a toxic loan because that way she could put that money away and earn more than paying down her mortgage!

She listens to the jerk as if he were god- she never bought stocks until Jan 2008, and this smuck told here that even if the market drop to not take the money out. Now, he tells her to leverage her fixed mortage into an adjustable...all because he says poor people pay off their debts!

I guess he's blind to the fact that everyone who owns a house are in huge financial trouble if they are in anything other than a fixed mortgage.

I just pray to god my friend listens to her own inner voice and doesnt do what this quake is saying.

Anonymous said...

Hmmmm.... American consumer is dead, so are exports. I wonder how the crooks on Wall Street will spin the lack of higher earnings in the next months (or years). Remember, no more housing ATM to buy things, no apparent new bubble to save the tsunami of unemployed workers. After the tech bubble, the housing bubble saved the day, but now...

Anonymous said...

agreed anon 11:02

we're toast.