The Greek

Let's Buy Detroit Outright

You're right about that. We traded jobs for profits dangerously. Too many jobs are now based in a country I'm not sure will always be our friend. And you're right about child labor. And you're right about the unfair marketplace. Be careful though, because protectionism turned a recession into the Great Depression. We should learn from our mistakes. There's a welcomed dependence between the U.S. and China, because of trade and money. In the end, that may be the thread that keeps the two from war. Or, it may be war that unravels a illusory link. I've been warning of this to friends for some time. I know America understands the dependence between global trade partners AND the horror of war, but I'm not sure China does, or more importantly, its leadership. I know Russia does not. God bless America. I want the best for Americans. I want the American dream for everyone. I'm on your side of the argument as much as I'm saying, we need to bite the bullet to get through this.

Let's Buy Detroit Outright

I hear you. There's no doubt something must be done. But, let's face it, that the truth is somewhere in the middle of the extreme arguments for and against. CEO compensation has gone too far for one, hasn't it? Congress brought up the vast gulf that exists between Japanese and US executives. It's huge. Even with all the media scrutiny, liability risk, etc, hasn't it just gone too far? Isn't compensation simply beyond worth; and on the other end, hasn't media stepped over its bounds, and turned free press into freedom to ruin. We all need to take a close look at ourselves, and how we have pillaged and raped and destroyed by perverting the freedoms taken for us by our founding fathers, by their blood. We need to be like them again, or at least like their vision for us.

Let's Buy Detroit Outright

I've been listening to the testimonies off and on today. "hiho tonto" indicated that he thought the oil industry should drop some change the way of the autos, since the two were in bed together.

Heard a Congressman mention funding possibly coming from energy allocated funds, those earmarked for alternative energy auto development.

On this topic, I think it is noteworthy that the circle of consumption and demand between SUV and gas guzzling vehicles, the lack of hybrid development or fuel efficiency high bar setting, and gasoline demand have certainly benefited both industries. The oil industry's time is coming, especially for those who ignore or are passive to alternative energy development.

We can save ourselves some dough in the long run if we insure the auto industry puts forth more real effort toward new technologies to run the power train.

Greek

Let's Buy Detroit Outright

I should make one point first. I believe the auto industry should not go bankrupt. I beiieve it should be supported, but through acquisition or signficant cost and assurances of reform and restructuring. And I agree, health care reform is welcomed by me.

Answering the comment of "Pork" again, where he assumes I couldn't last on the assembly line.

I'm pretty darn sure I could last on the line, as anyone who knows me can attest. From age 11 through college, I worked with my father in construction. I lifted cement blocks that weighed more than me, and towed bags of shingles up ladders, and wheeled carts of cement through mud.

I didn't buy luxuries with income, I bought stocks, and I started my career learning investing lessons the hard way from age 16. My first job as a mutual fund accountant, started at $19,500. After grad school (financed with more loans), I started as a stock analyst at $53K, and after working my tail off and becoming the 2nd best stock picker of 90 global analysts in my firm (over five years of free picking) I was finally making $153K (with bonus included), and that's very low for Wall Street (and my performance), very low.

In my life, I've delivered pizza, washed dishes, bused tables, cooked, dropped leaflets. After college and grad school, I worked four to five to six hours longer than 99% of my peers on Water Street (before 9/11 - 3 hrs after), Saturdays and often Sundays, so even sitting on my butt, I worked my tail off. I've been tired my whole life, but I never quit. I could handle the assembly line with my eyes closed and legs tied, but that's not saying it's easy to do my friend.

Now, you were interested in how much I make now. Well, running my blog and building my businesses, I do the jobs of ten people, working from sunrise to well after most go to bed, for very little reward, as all start up businesses see. I'm a blue collar kid who got everything in his life the hard way. NEVER assume... God bless.

My point is, Detroit needs fixing, or it wouldn't be where it is. A lot of fat has been built into our economy, from Wall Street to Main Street. We've got some hard years ahead of us here, and a big challenge. We have to get back to basics of hard work, honest wages and we need to take a good look at ourselves and instill ethics and moral values back into our lives, our country and mankind.

Rating Agencies Take Due Fire

Don't you love how the S&P managers try to shift the attention away from themselves now, and over to me? I think they have much much much bigger things to worry about these days. Actually, I'm proud to say I had a disagreement of principle with S&P. They've done a hell of a job destroying the brand, to paraphrase the words of one of the Congressmen in the House Oversight and Reform Committee. The thing is, what I've written here is fact, not opinion. It's verifiable via a short trip to Youtube or C-SPAN to view the video coverage of C-SPAN. Kucinich said it was "criminal" and a "rackett", and Waxman said called it a colossal failure, not The Greek. S&P very clearly made the bed they have to lie in now, something I've known for quite some time and sacrificed my career fighting against. I believe criticism from S&P managers is now widely understood to be a great statement of commendation. Thanks.

Don’t Blame Wall Street - At Least Not Completely

Addressing Points:

Sports to blame - I have played sports all my life, and even walked on to a tops soccer team in college. I've played bar league softball, coached and played corporate league basketball, playground tackle football with All-Public quality opponents (and dominated) and I've been an avid sports fan my entire life. However, I see fanaticism in sports, and it's gone too far. People now prioritize team affiliation more than humanity affiliation. Have you ever been to an Eagles/Giants game? You would think it was WWII, and the fans were Nazis and Us (Eagles fans of course). People are too caught up in this superficial reality. We have major geopolitical upheaval in progress, and most Americans care more about this week's NFL matchups. There's something horribly wrong with that, and eventually our populous is going to get a slap in the face; people are going to wake up and say, "why are we at war all of a sudden. what happened.?"

Addressing My Calling of Market Bottom - That was a market bottom. I never said it was the last and final market bottom. The market does not move in straight lines, it makes short term tops and bottoms. If you bought on my recommendation and sold not long after, just about any stock, you probably made money. So, don't treat me like a presidential candidate and try to catch me on bullcrap. If you want to go back and see my articles, do so, and pay close attention to what I wrote, the words - not the headlines only. Be deeper than that. And go back to my own site and see "Prophetic Past Prediction" or Prescient in the sidebar. I was talking about housing years ago. I was talking about Iran ten years ago. I told Georgians two years ago that their alliance with us would bring Russian tanks into their country, because they alienated their big neighbor and major trading partner. My words are out there; I'm proud of them; I'm on the line every day.

Also, I'm trying to help. The market is up today, but we stand in position now that encourages bank runs, stock runs, GDP recession, unemployment, depression in that order. Recognize that this is not a "Wall Street" bailout. This is an American rescue.

Don’t Blame Wall Street - At Least Not Completely

I have to answer some of your questions, since some of these comments show a reading comprehension issue that makes my case for me about laxing through our education system and then carrying that through our entire lives, creating a superficial society of fakes and fools.

How can I say that? Well, I worked with a bunch of guys who published earnings estimates, yet didn't even have earnings models. I worked with guys who instead of interviewing CFOs and reading 10Ks, read reports of other analysts. I witnessed what I write about, so don't pretend anymore. I'm not the one on the hill pretending, I'm the man on the street calling people on their negligence and waking up this country about its effort to penalize Wall Street and shooting us all in the foot instead.

Everybody wants to blame "Wall Street." Each and every Congressman wants to please his constituents who are going to vote again in a month. Nancy Pelosi even takes an important unifying role, and turns it into a sound opp to attribute total fault to President Bush. It makes me sick.

Clearly, America was built on the hard work of great men, like my Grandfather for instance, who got on a train every day to ride four hours to work at Bethlehem Steel, or my own father who volunteered to fight in Korea to be an American citizen. Clearly! America was built on more than secondary markets. But, the reason the every day Joe could buy a car and own a home here, while working at Wal-Mart, is because of the benefit of those secondary markets created by Wall Street. Sure, they kept going with it, and created more, but where were the rating agencies? What did they sign off on? Did they take a minute to look at the securities? Why did they rate them investment grade?

When you say that you are happy it's all falling apart, you say so because you lack the foresight to notice that it will ruin your life. That's like watching a tornado coming for you and commenting on how awesome and perfectly coned shape it is. It's bearing down on you man. The market could shed another 10% tomorrow. Your friends are going to start pulling their pension money soon. You have no idea what you are talking about. If you don't own stock, maybe you think you are immune?

Do you have a small business? You won't have clients in a week. Do you work for someone? You might not have a job in a week. Do you hope to borrow money to buy a new car someday soon? The bank is going to be a whole lot different than the last time you were around. Does your kid plan on borrowing money for college? Better start working on a scholarship, or start working plain and simple.

I've been to third world countries, and I'm telling you we are no smarter than those people. Depression bears down on the entire society. Call your Congressman and kick him in the tail to vote for this plan. Too many stubborn, angry, blind fools are calling him and telling him to not bail out Wall Street, and missing the point that they'll be on the street otherwise. This is NOT about bailing out Wall Street. This is about saving our financial system!

And, for the man who judged me regarding a bonus and a Ferrari, you clearly don't know the co. I worked for very well... Also, I already have a judge thank you. If you want to see the fruit of my tree, take a closer look rather than assuming things.

Dollar and Oil Are Manipulated by ECB and Fed

What I mean by ECB and Fed manipulation:

I mean, they are doing their best to offset the impact their actions would have on the dollar and oil, by talking tough. The ECB is raising rates, but at the same time saying it might not next month.

The Fed just finished a huge expansionary campaign and has forecast inflation would moderate; in the meantime, it's talking up inflation concerns.

Both the groups are talking against their actions, because they face two separate enemies, recession and inflation at the same time. Talk is cheap though! The market is smart. The lobbying can only hold off the flood for so long. Soon, the dollar will wither despite the central bank hot air.

This shows how close the Fed is to losing control of this ship.