irondoor91

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  • Wall Street, R.I.P. Now What?
    Go back to early 1920's. Similar situation, except no Fed. They were playing with their own money, but the leverage was actually lower. Do you think they were dismissing the liklihood of depression? Probably didn't even come up in discussion as everyone was trying to get rich.

    I find your dismissal of depression foolish, just as you would have dismissed the likelihood of the complete destruction of 100% of the major investment banks one year ago. We must think the unthinkable and prepare for it. We must (though it is impossible) attempt to get threee moves ahead and hedge everything where possible. But there is no perfect hedge, since there is always counter-party risk.

    It is a new world order and the vast majority of the public is sleep-walking throught it today. Daddy Bush and Paulson have told them not to worry, go about their business as ususal, the economy is strong, strong, strong! Oh, and like after 9/11, please don't even think about saving or paying down debt. Go out and spend, spend, spend. Pay your taxes. It's the patriotic thing to do!

    Did you also notice the commentary on weekend television about whether your 401-k was "safe". The explaination was that 401-k accounts were insured up to $100,000! How stupid can you get. Show me a 401-k statement that contains CD's.
    Sep 22 11:11 am |Rating: 0 0 |Link to Comment |View article
  • Corporate Fraud + Government Intervention = Bailout Nation
    How many times have you heard that one of our major problems is our "low savings rate"? For years now it has been close to or less than zero.

    Out come the "stimulus checks" and lo and behold we find that about 30% of the money wasn't spent, but was actually saved in a bank account or used to reduce some credit card debt.

    The next outcry was bemoaning the fact that people were saving and actually coming to their senses!

    The whole world knows that if Americans ever returned to the '60's and saved/invested 5-10% of their incomes the global economy would be down the tubes. The world depends on Americans borrowing and spending themselves and their country into bankruptcy. And they will gladly sell us the junk and loan us the money to do it with.

    My question is, where will the world find the next goose to pluck?
    Aug 06 10:13 am |Rating: +1 0 |Link to Comment |View article
  • Options Trader: Tuesday Outlook
    Jack s:

    Right on Art. He is the only CNBC commentator who actually is connected to the floor and who knows what is going on. Hate to say it, but Art is the only floor commentator who I have ever heard use the term "Fibonacci". This is the real clue to his understanding of the markets.

    Since Dennis Kneale and the other bimbos know nothing but screaming the latest oil price, housing number and Fed announcement, you can count on them to be out to lunch.

    Kneale actually rolled his eyes a couple of days ago when Art mentioned our old pal Fibonacci again. Of course, the market only trades on earnings.

    Gasparino is worth watching just for the behind-the-scenes rumor entertainment.
    Jul 30 13:10 pm |Rating: 0 0 |Link to Comment |View article

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