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September 29, 2008
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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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35 comments:
Retirement Planning
If you had purchased $1,000.00 of Nortel stock one year ago, it would now be worth $49.00.
With Enron, you would have had $16.50 left of the original $1000.00.
With WorldCom, you would have had less than $5.00 left.
If you had purchased $1,000 of Delta Air Lines stock you would have $49.00 left.
But, if you had purchased $1,000.00 worth of beer one year ago, drank all the beer, then turned in the cans for the aluminum recycling refund, you would have had $214.00.
Based on the above, the best current investment advice is to drink heavily and recycle.
It's called the 401-Keg Plan.
"Buy when there's blood in the streets, even if the blood is your own."
Darkest before the dawn
Keith, why won't you address the root cause of this entire housing crash/depression mess; that the government gave out too much shit to minorities? What, you are afraid to tell the truth? I guess telling the truth sometimes hurts. I am sorry America; but the root cause of this current economic mess is diversity training, too many minorities getting help from Uncle Sam, etc...
Pray.
Hold, no time to panic. The package will work.
I'm holding on to my cash. I'll need it to buy your assets the next 5 to 10 years so you can eat after you loose your job.
The 1900's were about making machinery that used energy. This century will be about making machines that produce energy. As energy becomes more expensive, it will become cheaper to make machines that make energy instead of consuming it.
And inflation is going to be a killer in the next 5 years, thanks Bercracky, GW, Greenscam, and Paulson. If I had any money I would be buying all the oil, coal, hydro, farming, silver, utility, commodities, and bonds I could.
Just bought $10k of DIA at $108.42/share. Once bill is signed market will pair losses and close in positive territory. Easy 4%+ one day gain on my money.
Loading up on RSX and Lukoil. Russian $120 billion intervention starts October 1st
Very few people really have the cajones to buy when there is blood in the streets. That's why so few people are wealthy.
Pick whomever you think will survive and then thrive.
I'm not in the mood to be specific today...you all know my picks anyway. It's been a good ride and will only get better.
Yes America is a mess, but for those who have lived overseas, they also realize it is no bed of roses over there.
Let us all move forward, together - to become enegy independent, balance gov spending, pay off the deficit, fix ss & med.,and, finally, bring back our manufacturing base.
The picture says it all ... pray ... and not to the almighty dollar.
Mussolini-Style Corporatism in Action: Treasury Conference Call on Bailout Bill to Analysts(Updated)
http://www.nakedcapitalism.com/2008/09/mussolini-style-corporatism-in-action.html
Just now ran across this, and it appears to be very important.
Apparently, there was a closed-door conference call last night (Sunday) about the bailout, not intended for public knowledge. According to Yves Smith, the author of this piece below at Naked Capitalism Blog, there was a person who sat in on the conference call who made extensive notes and forwarded those notes to Mr. Smith.
Audio links:
SIFMA Conference Call with US Treasury Youtube Links
http://www.youtube.com/watch?v=uXmFADm61Rc Part 1
http://www.youtube.com/watch?v=1eqZoToIdfM Part 2
http://www.youtube.com/watch?v=8YwO3MkvjR0 Part 3
http://www.youtube.com/watch?v=FnfyVGM-wfg Part 4
http://www.youtube.com/watch?v=mHTnqmJ_R3M Part 5
I'm getting dangerously optimistic, seeing all this blood in the street. Seeing this panic. Seeing all the sheeple all wise up at the same time.
Someone talk me out of it. Tell me it's still way to early.
Keith, I think it's still too early for optimism.
Listening to the Treasury conference call, I get the impression that Paulson, et al, will get what they originally requested.
That being said, I've been wrong before.
JP Morgan made a bleak housing market forecast. Since financial firms make such pronouncements to assist their own positions, I suspect the end is near. So it isn't too early IMO, but actually getting close to too late.
You guys think this is a good time to buy?
This recession has hardly started. Main Street and Wall Street are just starting to lay people off. People are beginning to lose their homes they never owned. The worst of the housing crash is ahead of us. The NYC real estate market will crash.
The Dow is down from 14000 within a year to 11000. Big deal. That's hardly a crash, it has yet to come. The worst times are ahead of us and some think it's a good time to get in?
You guys catch the Mitsubishi cash injection to MS? Heh heh, the only money left is offshore, so they know goldman and morgan are going to be the crooked "winners" to back.
Holy colonial crooks Batman, they're gonna buy everything but the kitchen sink. Goldman Sachs and Morgan Stanley are your new foreign controlled offshore slavers. Grab the lube bitch...
Keith,
Listen to Devestment not the Knifecatchers. There will be plenty of time to pick and choose choice assets for purchasing over 5-10 years. Realtors have been selling their 2 year old houses and luxury cars for half price to eat over the last year. Bankers will be doing the same next year and on and on.
There will be no shortage of bargains a year from now. On the contrary, the bargains will be even bigger and higher quality. You will be able to the house you want for half price or less, not just the trashed foreclosure in the hood. You will be able to buy 2 year old cars for half price that you want not just SUVs, Trucks and Luxury cars for 50% off.
Interesting (and all too common) view-point.
The reality is that as times get tougher, and the problems move up the economic ladder, bigotry has a way of getting stronger.
Anonymous said...
Keith, why won't you address the root cause of this entire housing crash/depression mess; that the government gave out too much shit to minorities? What, you are afraid to tell the truth? I guess telling the truth sometimes hurts. I am sorry America; but the root cause of this current economic mess is diversity training, too many minorities getting help from Uncle Sam, etc...
Invest in Goldman Sachs before it is too late! Paulson will not leave their buddies alone in trouble!
AIG bailed out because GS has a large position in it.
Lehman Bros failed because they were GS's competitors.
Warren Buffet is the first to see the truth, makes big investment in GS.
Bernanke is an idiot college professor who does not understand corporate cronyism.
DOW down 540+ HAAAAA!!!!!!!!!!
It looks like we are in the midst of a global bank run.
Pray is right.
"Someone talk me out of it. Tell me it's still way to early."
Check your brokerage account and see how your genius aapl pick is doing lately.
"The reality is that as times get tougher, and the problems move up the economic ladder, bigotry has a way of getting stronger."
Someone needs to do some homework before calling people bigots and rednecks. Go back to when Slick Willy was in office and check out what PC-based pressure was being applied to the financial sector.
Paulson thrown under the bus by Newt Gingrich et. al.
There's a growing revolt in the Republican party between the Neocons and the traditional fiscal conservatives.
The fireworks are just starting.
Load up on popcorn, this will be fun.
I've been saying in various forums, including here, that I'm almost totally out of the U.S. stock market (only in cash/gold/forex and, sigh, a little emerging markets) and have been waiting to buy, perhaps by Nov 1, when "certain triggers" are hit.
We're getting close to two of them hitting today:
-- a 6% down day at the close;
-- hitting 50 or so on the VIX.
Good luck all--
O.K., my bet of $10k on DIA did not pay off. Sold at a minor loss of $200. Happy to be back on the sideline.
Well, if you had missed me:
Attention, attention! Calling all financial morons to jump in the rigged and rotten market, just to get fleeced a few days later by the crooks on Wall Street. Attention!
So you geniuses were buying on dips months ago, right? You're bragging here how smart you're by buying AAPL, and everything else on dips. Too bad those dips happened to be a black hole...bwahahahaha
I've been coming here for more than a year, telling you all to sell and stay in cash, but noooo, you're so smart...the code monkeys, you Hussein elitists know better, right?
Here's a headline:
Apple (AAPL) got hit with a pair of downgrades Monday as analysts see a weaker consumer taking a big bite out of the computer-maker’s growth rate.
RBC and Morgan Stanley analysts slapped Apple with neutral ratings, down from buy, on concerns that the slumping economy will put a chill on sales of Mac notebooks and desktop computers.
Citing a IQ/Changewave survey, RBC noted that 40% of consumers questioned said they “plan on spending less on electronics in the next 90 days,” RBC analyst Mike Abramsky wrote in the note. This is the weakest outlook ever measured in these surveys, Abramsky wrote.
Apple shares fell 16% in morning trading Monday in the wake of the reports, as investors get a sobering view of how popular consumer devices can lose momentum in a faltering economy.
DOW = -611 pts; -5.48%
NAS = -200 pts; -9.14%; -25% YTD
S&P = -7.66%, -24% YTD
DOPES!
DOLTS!
I'm getting dangerously optimistic, seeing all this blood in the street. Seeing this panic. Seeing all the sheeple all wise up at the same time.
Someone talk me out of it. Tell me it's still way to early.
Yeah, like you brilliant AAPL pick a few months ago? bwahahaha You should hang out with Cramer
Hold. Markets down only 27% from peak. This sucker needs to go down 40%.
Don't buy until you see the whites of their eyes!!
But get you shopping list ready! Buying on the bottom is always fast and furious!!
FDIC and other New Deal institutions will prevent Great Depression 2, without any need for a bailout.
Be ready to sell your gold and buy stocks soon, when gold hits a high and the stock market bottoms.
If you're determined to buy a house sometime in the near future, be prepared to buy in early 2009, before President Obama re-inflates housing above historical mean.
.
Buy?
Sell?
Hold?
Punt?
.....Fuck It!
.
Keyser: "Very few people really have the cajones to buy when there is blood in the streets. That's why so few people are wealthy.
Pick whomever you think will survive and then thrive.
I'm not in the mood to be specific today...you all know my picks anyway. It's been a good ride and will only get better."
Change name to KNIFE Catcher.
"Change name to KNIFE Catcher."
lol...out loud (Adrian Monk)
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