Billy Ford

Charlie Gasparino: Another Crash 'Has to Happen Again'

I like the way he took a stab at the Bush Administration, saying they thought home ownership was a right...That is a liberal view if I have ever heard of one. What network does Gasparino work with? oh yeah CNBC..enough said..you are a fool

Todd Salamone: Stock Uptrend Intact, Expect No Sharp Pullback

Its funny how people like you are saying that bad news is already built into share prices, but yet we are at 19x earnings. We saw decent earnings compared to ULTRA conservative expectations only on cost cutting. I would guess that the results of cutting costs were Q2, so Q3 better bring some increased revenue to the table which I am very skeptical. This stock market is propped up on the fact that we think people will begin to go out and spend. With real estate still in the dumps, record foreclosures, unemployment at 9.7 and climbing, I am highly skeptical of people rushing out to buy anything. This consumer deleveraging process will take a few years to say the least. It is easy for people to jump on the equity bandwagon when there is a 7 month rally, but you will be the first ones to change your view once you realize that we were simply having a correction to the upside. I dont foresee any sharp legs down, but do believe we are in for a slow decent down from here over the next 6-9 months. What is going to move us up from where we are now besides increasing multiples?? You would have to be crazy to buy into this market right now. I would much rather miss a move higher than to get slammed in the next 6 months.

Wall Street Breakfast: Must-Know News

Its crazy how everyone keeps chanting "recession is over"..."recovery"..but yet retail sales keep steadily declining, week after week. Whats even crazier, is the simple fact that when discussing YOY, we are beginning to get into the time when things got really bad last year and we still are sloping down. Someone, anyone please enlighten me as to why we are so sure that this thing is over. Hey US govt, is the mind trick working yet..Just because you pump positive news into the media, doesnt mean people will feel all happy and go out shopping...oh thats right, they dont have a job, they cant

Why We Can't Take Mortgage Refinances to the Bank Just Yet

Jay, I don't believe I mentioned in the article anything about "house as an ATM". I was mainly bringing attention to the fact that low historical interest rates don't always correlate to a wave of refinances. An increase in mortgage applications doesn't hold any water, and might not help remove some of the toxic mortgages out there like so many believe. This article also makes note that home values play a vital role in this process as well, just like you are pointing out. You may want to read again and try and digest what I am trying to say. I really appreciate your knowledge though in regards to correcting my mistake with the heterographic homophone. I forgot that this was an english blog and not a financial blog. Do you live in a glass house?