Philly Jim

Total Rating:
+2 / -5

115 Comments

    • Sun Oct 5th 06:50 AM | Rating: 0 0
      Commented on:
      America's Real Wealth
      I forgot to mention. Everyone seems to want blame and crucify Wallstreet and its executives for these failed mortgages, but they weren't the brokers who were being pressured to put minorities and low-income people into homes they couldn't afford with cheap money from Fannie, Freddie, Countrywide, etc... Wallstreet was simply doing what it does best. Congress is to blame for failure to regulate these GSE's while dolts like Mozilo walk away with $110 million golden parachutes before the sh*t hits the fan. Again, ZERO ACCOUNTABILITY CULTURE under the Bush administration. I thought republicans were tough but I guess there is too much guilt on both sides to start blaming. BTW: The Justice department was dragged through the mud and will never have the same reputation after Gonzales, so don't depend on them.
      View article »
    • Sun Oct 5th 06:38 AM | Rating: 0 0
      Commented on:
      America's Real Wealth
      I appreciate your patriotism - brother. Your article is nice but offers no condemnation or call for culpability! If we never learn why, we will never prevent it from happening again! The media is not talking about why because the media is no longer involved in investigative journalism, rather sensationalism.

      "Our wealth is in our people—their intelligence, optimism, can-do spirit and willingness to take calculated risks."

      The former Treasury secretary (Snow) and Federal Reserve chairman (Greenspan) were warning congress that a disaster was ahead if mortgage market wasn't regulated. Democratic senators like Chuck Schumer, Chris Dodd, and Barney Frank were condemning them for interfering with the nation's progress and boasting how great things were, ignoring the time-bomb developing.

      Next, blame rests in the people you fail to point out in the crowd - those without a penny to their name who were buying homes they couldn't afford. The very same people Obama helped to get into homes they couldn't afford while working as a community organizer in Chicago with the ACORN organization. Let's not forget about the speculators/investors/... who fueled the bubble as well - speculators who bought 10 or 20 houses at a time without any documents proving they could afford them.

      WE SEEM TO BE CREATING A NEW CULTURE OF ZERO ACCOUNTABILITY IN THE UNITED STATES OF AMERICA UNDER THE BUSH ADMINISTRATION. This isn't a Democrat or Republican issue because morons on both side are responsible for not living up to their responsibilities to protect and serve the nation, rather they were living the high life - fancy galas, hefty campaign contributions, gifts, prestige, power, vanity.

      NOW OUR EMPIRE CRUMBLES AT THE HANDS OF FOOLS.
      (Where are our military leaders? Isn't this a national security issue?)
      (Shouldn't certain members of congress be impeached, brokers jailed, liars fined, spending controlled????)
      View article »
    • Fri Oct 3rd 00:54 AM | Rating: 0 0
      Commented on:
      Some True Safe Havens Are Still (Surprisingly) Undervalued
      Why can't they wipe out our debts when they wipe out a bank? ;)

      I totally agree with you that silver and platinum are the best buys at these levels. Gold is a really strange one, too volatile for my liking. Inverse ETF's might be safe than gold now.
      View article »
    • Fri Oct 3rd 00:48 AM | Rating: 0 0
      Commented on:
      The 20-Month Gold Puzzle
      Ever think that maybe the treasury is holding their gold for what may come?
      View article »
    • Thu Oct 2nd 08:49 AM | Rating: 0 0
      Commented on:
      Even Asset Managers Run For Cover to Gold ETFs
      I'm amazed it's staying under $900 in this environment.
      View article »
    • Thu Oct 2nd 08:09 AM | Rating: 0 0
      Commented on:
      Gold Bulls: Beware
      Are you suggesting that these ETF funds may go under and their storage of physical gold means nothing? Dude, the 2nd shoe is dropping, the money spicket is turned off for America, nations around the world are increasing their gold reserves and the paper money promises are just that, no matter how much political "racketeering&quo... goes on. If the world economy was a jet, it would be an aging 1970's airliner with torn seats and sputtering engines filled with 70 yr olds on their way to retirement. The world bankers are gonna place their bets on China unless the U.S. proves to be more dynamic and secure. Until then, gold in your safe is good but so are ETF's that can be sold in a few seconds.
      View article »
    • Mon Sep 29th 01:11 AM | Rating: 0 0
      Commented on:
      The Government Sees Rescue as Profitable, But Why?
      The economy needs two things right now.

      1. Stabalize existing home prices. (Prevent oversupply)
      2. Introduce new industries/technologie... (90's proved capital investments in our economy and adaptation of new technologies serve as significant catalysts towards Federal surpluses and worker productivity.

      Aside from those two things, getting a leader in the Whitehouse with a positive vision for America and the world is critical at this point in time.
      View article »
    • Fri Sep 26th 14:28 PM | Rating: 0 0
      Commented on:
      JPMorgan and the Concentration of Risk
      The risk was already consumed by the banks being taken over, now they are being eaten up by the bigger banks for a bargain, the whole idea of consolidation into just a few mega banks is manifesting from this credit crisis. When loans were being given to people for hundreds of thousands of dollars after they had just recently filed bankruptcy (2003-2005), you have to wonder, who gave the green light on these subprime loans? It didn't come from the bottom, it came from the top. Interest rates slashed to their lowest, and at the same time free money without a down payment for people with horrible credit and you try to tell me this financial crisis wasn't anticipated? Perhaps a grand opportunity to operate in a new highly competitive global environment without worrying about paying taxes on profits for years, and being able to acquire good assets for pennies was the ultimate plan?!? Maybe it is something that needs to be done to prevent communist owned banks from taking over the world with all their concentrated wealth, how can the West compete with thousands of little banks spread out over an ideal capitalist society?
      View article »
    • Fri Sep 26th 06:01 AM | Rating: 0 0
      Commented on:
      Regardless of a Bailout, US Economy is Decelerating
      Multinational corporations. They could care less about national security and the goons in D.C. are now all bought and paid for. These bail outs will only increase the load the backs of the working class who already pay to house and fee criminals and the lowest members of society. We are screwed no matter who gets in office. If Obama gets in, the working class families will bear more burden of carrying the scum of society and if McCain gets in, Harvard and Yale criminals will run wild for another 4 years, robbing the nation of all they can.
      View article »
    • Tue Sep 23rd 03:08 AM | Rating: 0 0
      Commented on:
      U.S. Banking Crisis Turning Global
      I feel as though we are in a state of delirium, where half-conscious decisions are being made by half-conscious individuals. I hope the dreamy movements we are witnessing in the markets are with wise intentions to bolster/secure America's standing in the world so as not to be forced to succumb to an alternative to the ideology of freedom and the existence of an ecological equilibrium in exchange for productivity and "glorious" money. I would bow before Bush any day rather than be told what I can and can't read or be told I can only have one child. I'm willing to sacrifice to maintain this state of existence we have now, the 1 trillion dollar bailout must be part of these good intentions because I highly doubt the U.S. military would allow such robbery of the treasure if it were not needed to maintain our security in the world. Oh, and heads up on Asia, you think Americans are bad at paying back debts, ha ha ha ha, oh boy will this be interesting! Wow! That will be the real catalyst to push gold to 2k.
      View article »
    • Sat Sep 20th 21:50 PM | Rating: 0 0
      Commented on:
      Throw Bailout Money at the Causes, Not the Symptoms
      This country has been gutted during the Bush admin.

      These are the type of people that give disgusted looks when they have to drive through a working-class neighborhood and get out and shake their hands before elections.

      Remember the savings & loans collapse of the 80's? They learned from that and took it to an extreme this round. Foxes guarding the Hen House.

      Now we have Mr. Closet extremist liberal Obama or the old and confused radical right McCain to pick from to finish the job. Oh man, our founding fathers gotta be screaming treason by now.
      View article »
    • Sat Sep 20th 21:41 PM | Rating: 0 0
      Commented on:
      Preserving U.S. Economy Over Free Markets (Short Sellers)
      The slogan of "free market capitalism" with minimal oversight/regulation has only proven to the American people how quick thieves could raid their nation's savings and place them in serious jeopardy - by enriching and empowering their enemies with oil dollars and trade surpluses. Congress was reluctant to raise an eyebrow when these banks were being "creative" with their financing and sales techniques, they were lazy to raise a hand when the nation was screaming for clean energy and now look at the mess we are in. China is becoming more powerful and has utilized and integrated technology into their economy. This is all placing the United States of America in an extremely precarious situation. Multinationals like General Motors and Ford are quick to now offer the latest technology to China and Europe rather than the old dog America, they have no allegiance, nor do these multinational banks that are all begging for a handout from the American people after their mistakes. What about all the assets they bought overseas with American dollars? Why aren't they being forced to sell off those assets to pay for their mistakes made here? Are American really this stupid or just too busy working to death to pay for all the taxes placed on their heads to worry about banks and international debts.
      View article »
    • Fri Sep 19th 13:13 PM | Rating: 0 0
      Commented on:
      Armageddon Postponed
      Weird stuff going on! I guess the Bush going away party is starting to have national security implications and they needed to stop it prematurely. We made it through the first Bush savings & loan scam in the 80's and I'm sure the American people will get through this one.
      View article »
    • Tue Sep 16th 09:06 AM | Rating: 0 0
      Commented on:
      What Should the Government Do About AIG?
      Two of the biggest drains on the U.S. GDP - Welfare, Prisons. ...The benign element must be controlled before spreading further and destroying the whole. This money could be used to help businesses and invest in research and development and keep the U.S. ahead of the curve. Subprime.
      View article »
    • Tue Sep 16th 08:25 AM | Rating: 0 0
      Commented on:
      Lehman Is Just the Thin Edge of the Wedge
      We will all be using the Communist's bank of Russia or China in a few years at this rate. I hope they have a plan..........
      View article »
Loading...
Symbols:
Authors:
Quick Links:
Contribute an Article Become a Seeking Alpha Contributor

Transcripts

More Transcripts»