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    • Mon Nov 3rd 10:30 AM | Rating: 0 0
      Commented on:
      Wall Street Breakfast: Must-Know News
      I'd like to report to this Blog Sitemeister that his contributors must swear off illegal drug use before submitting their comments.
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    • Sat Sep 27th 21:28 PM | Rating: 0 0
      Commented on:
      Horrid Data: Housing, Jobs, Durable Goods
      To Moonbat1775,
      I appreciate and share your dislike for fractional reserve banking, a major cause of our present world financial crisis. And I thank you for your pointing out that fractional reserve bankers may be of any ethnic origin; just as all gangsters aren't Italian.

      My ire was raised by Sojourner's venting his anti-Semitic bias in his irrational explanation of the persons responsible for this crisis.
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    • Sat Sep 27th 14:45 PM | Rating: 0 0
      Commented on:
      Horrid Data: Housing, Jobs, Durable Goods
      To Sojourner; You need to take a deep breath, 2 aspirins, and take a look at your comment again. Do you really think your kids would be happy with their Daddy's explanation of the world's economic problems?
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    • Fri Sep 19th 17:55 PM | Rating: 0 0
      Commented on:
      Making Sense of the Brokerage Bust
      Reply to Farmer: Yes. Since there will eventually be only one bank (The US Treasury), there will be only one currency. The currency will be in denominations of IOUs. They will be redeemed at US Teasury ATMs for IOUs of another color.
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    • Sun Sep 14th 12:04 PM | Rating: 0 0
      Commented on:
      Current Market Turmoil: You Can’t Explain 'Stupid'
      To "notsosmart"... You are very smart!
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    • Sun Sep 14th 11:06 AM | Rating: 0 0
      Commented on:
      Brookings Panel on Economic Activity Conference: Housing Market and Fed Activity
      I suggest you immediately enroll in an English Composition and Grammar course which will do wonders for your ability to express your ideas in a way that is understandable to your readers.
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    • Fri Sep 5th 11:53 AM | Rating: 0 0
      Commented on:
      Pimco's Bill Gross: Jim Cramer Is 'Courageous' and 'Entertaining'
      Let's face it, nobody knows what the market will do in the next 10 minutes, much less the next 10 days. Did anyone predict the dramatic downturn in equities for Thursday & Friday of this week?

      I like the experts who predict that things will change "in the next quarter", "by the end of the year", or "sometime next year". I have never found them to be wrong. Sure enough, things did change.

      Anyway, it's a fun game and I enjoy it since I am fortunate enough to be retired since 1994, have a company pension, receive my Social Security check each month, was lucky enough to have bought rental properties in Las Vegas, Cape Cod, and Albuquerque in the early 2000's when prices and interest rates were low, and got out of the market at the end of 1999 after a very profitable 6 year span when all boats enjoyed a rising tide. A maximum investment in Gov't I Bonds in 2000 & 2001 was another lucky move.

      Notice my use of the words "fortunate" and "lucky" when referring to investments; the same words that contribute to one's wealth when in Las Vegas or Macau. No one knows the future track of their investments; least of all, the lamenting majority of 401(k) contributors who watch their shrinking monthly or quarterly statements and have about as much investment savvy as the deer in your headlights.
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    • Mon Sep 1st 10:44 AM | Rating: 0 0
      Commented on:
      Uncertainty and the Economy: Some Comments
      In response to User 118015: For the vast majority of those people who historically have put a portion of their retirement savings in equities, your sage advice to transfer funds out of the market until a genuine [upward]trend develops is well taken, although this action should have been taken long before now. Unfortunately, too many of the 401(k) contributors still have little investment knowledge and catatonically sit at their kitchen tables, open their monthly or quarterly statements, and inactively lament as their hard earned savings wan into oblivion.
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    • Sun Aug 31st 20:35 PM | Rating: 0 0
      Commented on:
      Prime Foreclosures Now Greater Than Subprime
      We can look at the percentages and/or the total numbers; neither one brightens the actual picture. The large majority of lenders will survive and a large majority of default borrowers will not. You can put lipstick, earrings, and a low cut blouse on this pig, and it's still a pig.
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    • Fri Aug 8th 10:40 AM | Rating: 0 0
      Commented on:
      This Recession Will Be Neither Short Nor Shallow
      What are the names and affiliations of the persons who write the scripts for the know-nothing readers like Mark Hanes and Erin Burnett?
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    • Sun Aug 3rd 18:20 PM | Rating: 0 0
      Commented on:
      Is the U.S. Banking System Safe?
      Impressive article and comments. So what will happen to the American workers' who have their 401(k)s and traditional & Roth IRAs invested in mutual funds whose NAVs continue to erode? Unfortunately, too many of them lack the investment knowledge to properly monitor their investments other than to watch their monthly or quarterly statements report the bad news. Thus, they remain the lamb-like victims of their employers' and 401(k)/IRA managers' poor investment choices. By the time the workers reach the point of realizing they have lost the better part of their savings there will be little they can do to salvage their savings or their retirement. This is a sad, but all too probable, scenario that faces the masses.
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    • Sat Jun 28th 10:10 AM | Rating: 0 0
      Commented on:
      Greenspan, Please, Retire Already!
      While in the position of Fed Chairman, it was impossible for anyone, especially Congress, to engage in a meaningful discussion with Al since his rhetoric was INCOMPREHENSIBLE. Since retiring he has improved this artform to INSCRUTABLE and BAFFLING.
      View article »
    • Tue Jun 3rd 14:48 PM | Rating: 0 0
      Commented on:
      Barton Biggs and Bob Brinker Are Both Bullish
      Please don't base my future wealth on what "conventional wisdom" tells you.

      What crystal ball tells you that "new homes and construction are close to their bottom" ?

      "Huge amount of liquidity sitting on the sidelines"; do you expect it'll pour back into the market now, while the market continues to correct downward?

      "U.S. stocks are the cheapest major asset in the world". Perhaps there's a very good reson for that;duh!

      "As oil stops going up, tech stocks will go up". When do you predict oil stocks to stop going up?

      Et cetera, et cetera, et cetera! Who do you think you are talking to?

      View article »
    • Thu Apr 3rd 22:55 PM | Rating: 0 0
      Commented on:
      An Insider's Look at the Subprime Mortgage Collapse
      Unfortunately, there is no retribution or amelioration for the unethical but legally defendable business practices perpetrated by the lending community. As Jackoo pointed out, the terms of the mortgage are all spelled out in the closing documentation and must be read and understood before signature. I, as did Jackoo, read my documentation on three mortgage closings during the subprime lending era and ended up with mortgage rates of 4% (5/1 ARM), 4.25%(1/1 ARM), and 5.25% (30 yr Fixed).
      With the 17 interset rate hikes of Greenspan and the ensuing rate reductions of Bernanke the ARM rates are now reset at 6% and 5.77% respectively. I mention this to disspell the widespread notion that ARMs are a major cause of our repo problem.
      I attribute today's sad predicament of the repossessed borrowers to a lack of knowledge of the home buying and borrowing process, overextension of their resources, and addiction to consumption.
      I take no delight in their plight. It's a hard lesson learned and hopefully their next venture into homeownership will be preceded with due diligence.
      Unfortunately, the Golden Rule is still the mantra of our economy; "He who has the gold makes the rules".
      View article »
    • Fri Mar 28th 10:51 AM | Rating: 0 0
      Commented on:
      Wall Street Breakfast: Must-Know News
      Shalom User 168657!!!
      View article »
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