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I wasnt doubting your insight, I was just wondering where your loyalties lie.
yes i am soo happy
I wasnt doubting your insight, I was just wondering where your loyalties lie.
Because?
That's funny... I just sat down to listen to Alex Jones interview Paul Craig Roberts.
Jones is fine when he has a good guest on the show. He's tough to take when it's just him talking/yelling. He is a conspiracy theorist, but I understand a lot of the yelling, because much of what he does involves reading government do ents, or stuff from the UN, IMF, CFR, the NGOs, and so on... and people don't believe it.
Dark Reign- Loyalties? We were just discussing market trends….
Some posters like Cosmic & Travis are just smart guys that run a business, have engineering degrees & offer some astute insight on current affairs…
Of course there are other fascinating posters who start threads like “paper or plastic”, “regular or extra crispy”, “Jalapeno chips or Hot Cheetos”…. I have never questioned their loyalties...
Damn. Here it comes.
without MASSIVE Federal Bailouts the big three automakers are gonna go down.
GM just burned 4.2 billion in the last quarter and will run out of money in the next six months.
The GM CEO just announced this afternoon that "reorganization" is not an option. They will just shut the mother er down and sell off what they can if the feds don't bail them out.
The limited options are just mind boggling.
http://money.cnn.com/2008/11/07/news...ion=2008110711
Last edited by CosmicCowboy; 11-07-2008 at 08:49 PM.
Can't blame that on Obama.
OK, my corn pone south texas cowboy prediction:
The US government will buy a bazillion GM "volt" cars now (coming out in 2010)
They will give any other automaker the same option on producing "green" cars.
They will "give" them to people that will pay back 10% of the value in deferred tax credits that come from checks we were going to send to them anyway.
The US government will take over all pension obligations of the US automakers from a designated date.
They will craft it in such a way that we really think that we "win" from the solution and that those people really "paid" for those cars.
From now on I think I will start calling them the Voltswagen.
People who read their history know how THAT one played out.
Just in case you are too lazy to research what I am referring to here is a link.
http://www.bytwerk.com/gpa/vw.htm
I AM NOT making political comparisons. Just pointing out that history has a way of repeating itself.
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that's just rich.
wasn't this the car of the hippie back in the day? .......even now. oh i love it!
Electric cars aren't "environmental" anyway, unless they are recharged from renewable electricity generators (wind, solar, hydro, tidal, geothermal, etc.).
1l petrol is about equal to 10kWh of power.
1l petrol = 2.5kg CO2
1kWh (black coal-fired powerplant) = 1kg CO2
Thus, electrical cars run from coal-fired electricity are about 4x as polluting in CO2 terms as IC engines.
Note: not exact figures (approximations), used to prove a general point.
I think you made a very large leap in logic with my loyalties comment, so I'll ignore your previous rant.
Some people make money on a declining market. If he were a trader by profession, I would question his loyalties.
He isnt a trader, therefore no question needed.
I just got layed off this thursday by the person whom I don't work with but who owns the sompany. My supervisor (with whom I work very closely) was very much against this. I am very upset.
LOL
If I was a trader trying to "move the market" I sure as wouldn't be posting here...
Why not?
Shutting up shop
Oct 9th 2008 | NEW YORK
From The Economist print edition
The long-feared surge in bankruptcies in America is now under way
http://www.economist.com/business/di...ry_id=12380997
Wait until the trillions in credit default swaps start being called.These failures have contributed to a rise in bankruptcy filings in 2008 that is showing every sign of accelerating. Even before September’s record-breaking financial-sector bankruptcy of Lehman Brothers, with assets of well over $600 billion, and the technical bankruptcy of Washington Mutual en route to its acquisition by JPMorgan Chase, there had already been more bankruptcies this year than in 2007. By May corporate borrowers had defaulted on 28 high-yield bonds (formerly and perhaps again to be known as “junk”), compared with 21 such defaults in the whole of 2007, according to a recent report by the corporate-renewal group at Bain & Company, a consultancy
Even before the recent intensification of the financial crisis, which has made it harder and costlier for even the best-run companies to get credit, Bain forecast that 4.8-5.9% of American high-yield bond issuers would default this year, up from 0.9% last year, with the number of large bankruptcies (companies with assets of over $100m) rising to 50-75, from 13 in 2007.
Admittedly, last year’s total was unusually low, and Bain’s forecast could be seen as nothing worse than a return to normality. But what the credit markets are now pricing in to bonds is far nastier than that. For the first time since late 2002, the average spread between high-yield corporate bonds and Treasuries now exceeds 1,000 basis points—which, for an individual bond, usually earns it the le “distressed”, implying a probability of nearly 25% of default within the following 12 months.
Scary. 5 trillion dollars in bonds globally, and CDS insurance on them tops 50+ trillion, meaning that for every one dollar of default, there is 10+ dollars of potential liability for the issuers of those CDSs.
http://www.npr.org/templates/story/s...oryId=96333239
Another delightful day in the market. Already down 5% and going straight down with 20 minutes still to close.
Don't think this won't affect you. Credit card companies are next. Those guys live on taking your new debt and packaging it into equities they sell to others so they can keep loaning you more money on your credit card. Oops. Nobody wants that paper anymore so the credit card companies aren't gonna have any money. Expect the "limits" on your cards to drop and the monthly minimum payments to rise. The credit card companies are gonna want their money back.
I recently paid off and canceled my higher balanced and higher rate cards with this in mind. I kept two open for FICO and emergency purposes. The fine print the credit card companies use is so ing broad. They can pretty much do and change as they please and there isn't a damn thing you or anyone can do about it. I'm anticipating a shack up there and its going to hurt a lot of people.
Market just blew through 8000 headed straight down.
Little bounce. This afternoon is gonna be wild.
Oh it is going to be so amusing watching Obama apply liberal business raping to this cluster .
LOL. I go to lunch and get back and it's back up 400 points. The "pro's" must be going nuts trying to figure out which way to jump.
Fixing this mess won't be easy and McCain would be in the same boat.
both of them support bailouts. Never loved either one. I'm just hoping for the best at this point.
I concur.
crazy.
Market traded in a 900 point range today. There have been many years it didn't move that much. Volume was pretty light, though, so who knows what tomorrow will bring...This is almost a war between the technical guys that use formulas "value" investing based on P/E ratios (possibly based on flawed earnings estimates) and the fundamentalists that are looking at the macro economics and seeing nothing but bad news.
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