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Tony Soprano
137 Comments
Getting Back to Financial Basics
REVOLUTION YOU SAY! MAYBE THIS WAS A TYPO?
IT’S AN EVOLUTION NOT A REVOLUTION
THAT MR. CARA WOULD LIKE YOU TO THINK.
OUR GOVT AND BUSINESSES ARE CONSTANTLY EVOLVING.
THAT’S BEAUTY OF IT.
______________________...
“victors will enjoy the spoils”
SOUNDS LIKE ANGER, WHEN YOU ARE THIS ANGRY ITS HARD TO THINK STRAIGHT.
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“let these banks destroy themselves, the victors will have to return to us with a new and much improved capital market, one that works for us and not against us.”
REMINDS OF A SOCCER GAME WHEN THE FANS OF THE LOSING TEAM HAVE A RIOT. IT’S A TYPICAL REACTION TO UN-CONTROLLED EMOTIONS.
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“A simple philosophy in life, yes, but we all need to get back to the basics.”
THIS MAY BE TRUE. BUT NOT NOW -- MAYBE IN TEN OR TWENTY YEARS.
THE AUTHOR IS SO ANGRY THAT HE WOULD TAKE GREAT JOY IF WE ATE OUR OWN TAILS. HE IS TRYING TO SPREAD HATE AND ANGER.
It's Not a Crisis, But a Chaotic Calamity
The above piece is long and confusing. In my opinion, the short of it (no pun intended) is that we will prevail. We have the best government in the world. Every time our govt has intervened in some crisis it has worked and that goes all the way back to 1914.
Jim Rogers will have to take a sleeping pill tonight. He is so angry at the Fed. The weak dollar will mean that China, (Jim Rogers dream country) will sell fewer goods to us. That will slow their economy. China already has high inflation. Commodities dropped like a bric today. (no pun intended) China could burst. They have problems, in Tibet, more pollution than septic tank, very high inflation and more govt intervention than Al Gore, Ralph Nader, or Ted Kennedy could dream up in ten thousand years.
Gartman today on Fast Money said he is now long of JP Morgan – a bank stock. For those of you who don't know him he has been short of stocks and long of gold for a good while. But he has reversed his position.
CPI: 2008 vs. 1980
All these warnings over the last 20 years about excess, too much liquidity, dangers of inflation, the dollar headed for a fantastic crash and perhaps the fall of our great nation into second rate status are coming to fruition. Why are the implications so dire now? Because the Fed has been totally compromised, and the U.S. is broke. We don't have a huge surplus to fall back on, a new war to conjure up to kick start the economy or cushion with our currency to fall back on temporarily until we get back on our feet. Every desperation effort the fed makes to bail us out is further doom for the usd and our great nation.
Karl,
You said the US is broke. Not true. Government checks are going out and payment on our Treasury’s debt continues.
During World II my father was very worried about the war. There was very little money to pay for a mammoth Army, Navy, and Air force. Where did we get the money – US savings bonds. We were still coming out of the great depression and the US had very little intrinsic value. Today the US has much more value. I will not be able to detail all of it because it will take a lot of time. However, I will use a couple of areas of value and there are many, many more.
Before World War II we had practically no armed forces. Ships for the Navy had to be built, tanks for the army were need and so on. Today we have a military some hate it but it is there. The same is true of our Colleges, Space Program, Highways and Roads. I remember when it took 8 to 9 hours to drive to Washington from New York. We had to drive through Baltimore and many other towns on the way and take two ferry boats. All of these things and some are hard to describe have added value to America. This value called infustructure is getting older, but we still have it. The newer stuff, telecom and the things that are going on in Silicon Valley and agriculture like Monsonto are not that old. The factories at CAT and DE have improved. GM and Ford reached an historic agreement last year.
Also, if the US was going broke why would the safe money run to our treasury bonds? If there really was fear that we are going broke soon the big money would not be running to buy our bonds. During the Carter day’s I bought treasury bonds yielding 14 percent. There was great fear then and these bonds were coming to auction very often and fear that the govt would not be able to pay up or catch up with inflation was there as well. The media coverage was not nearly as good as it is today. Again, all of these things that we take for granted today have added value to our country.
Finally, down the road, perhaps in ten to twenty years we will have to pay up for Medicare and Social Security or cut these entitlements or both. The good news about this crisis today is that it is happening now during a period when we still have enough prosperity and time to fix it. We have the greatest government system in the world. A government that can work with business and knows business this is value as well. We make mistakes but the important thing is that we can fix them and find a way to stop them from happening again. We are not clairvoyant, things change and we get ahead of ourselves. Not every one is fair, there will always be greed, apathy, and dishonesty. We will prevail: God Bless America.
PS: It is normal for the currency of a country to devalue when going into a recession. Jan Hatzius (gs) stated this last Friday.
What Role Did Ken Langone Play In Spitzer's Fall?
But you bring up conspiracy?
(agreement between persons to break the law in the future, in some cases having committed an act to further that agreement)
Vendetta or revenge is a much better and reasonable theory. You are trying too hard to stretch this story.
Stick to what has been happening since last August. Godzilla is destroying California real estate, a new black hole is sucking our dollar bills out of the Fed, and Al Gore has decided to stop going green - the economy is more important - he looks for ways to spur new grow regardless of green house gases.
Bear Stearns: 'Remain Calm! All Is Well!'
Shorts are now competing with the Fed. Every time our government has intervened in a crisis it has worked going back to 1914.
Our markets are holding up better than what I thought. But commodities are starting to drop. The weak dollar will hurt China's exports to the US. Can China survive slow and maybe very slow growth and high inflation at the same time?
What Role Did Langone Play in Spitzer's Downfall?
But you bring up conspiracy?
(agreement between persons to break the law in the future, in some cases having committed an act to further that agreement)
Vendetta or revenge is a much better and reasonable theory. You are trying too hard to stretch this story.
Stick to what has been happening since last August. Godzilla is destroying California real estate, a new black hole is sucking our dollar bills out of the Fed, and Al Gore has decided to stop going green - the economy is more important - he looks for ways to spur new grow regardless of green house gases.
More Thoughts on the Fed & JPM's BSC Liquidation
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Bravo! The island must stay afloat or we all drown.
However, every time the government intervened it worked. Also, cost: Financial, economic, psychological, and prestige-wise to this debacle has been, to some degree, factored into the markets.
Don't forget what Jan Hatzius said last Friday: a depreciating dollar is normal for the currency of a country that is about to go into a recession. We fight inflation later.
Two Dollars per Share, or an "Orderly Liquidation"?
Jimmy Rogers is very angry now because the Fed intervened. Why? He complains that the bosses at Bear will still get their bonuses. Well Okay. But what is he really mad about? Hmm, let me think, viola, our system works.
China does not have a system like ours. The dollar is falling and Americans will be buy less from China. Demand for commodities will decease. Inflation in China will and cannot continue and their government is managed to the maximum. The bubble will burst or deflate and Jim will lose a lot of money. Remember and he said this himself that he was going to move and live in China but decided not to because of pollution. American is the best place to live and invest. Jim can go to China if wants to.
Two Dollars per Share, or an "Orderly Liquidation"?
The sentiment now is so negative. Some are saying that the fix we are in is not fixable. To me that's really good news.
Other shorts are just piling on . . . well you can pile on only so much and the news like above, even though its very true, becomes redundant.
LEH may go next. But we know what will happen. The Fed will be there. The shorts are now going to have to compete with the government. By govt. I mean the Fed, the Treasury, and Congress and even other world economies.
Two Dollars per Share, or an "Orderly Liquidation"?
Bear Stearns: 'Remain Calm! All Is Well!'
Dow at 8000 Is Not Out of the Question
Heap it on and pile it on, doom and gloom, its time to start buying and stay long.
Warning Signs of a Modern Depression: See 1990 Japan
The US and other world countries will help to fix this issue. The bears are saying that this is an unsurmountable problem. No! Difficult Yes. Never ending No!
Milli Vanilli Government: Latest Casualties - Bear and VISA
IT’S NOW THE FED AGAINST THE SHORTS. THE FED WILL WIN.
THE FED WILL KEEP THE ISLAND AFLOAT.
THIS IS CAPITULATION!!!
DON'T BUY INTO ALL THAT NEGATIVE THOUGHT ABOVE!
4 Recommendations to Defend Against a Financial Armageddon
IT’S NOW THE FED AGAINST THE SHORTS. THE FED WILL WIN.
THE FED WILL KEEP THE ISLAND AFLOAT.
THIS IS CAPITULATION!!!
DON'T BUY INTO ALL THAT NEGATIVE THOUGHT ABOVE!