normthefedup

The Coming Economic Collapse, Part 2

Graham, yuo're getting pummelled this morning and - for once - I do not think you deserve it. I KNOW you're figures are distorted and for the basis of proving your points, they need to be to some extent. BUT..your observations as to how we got here are right on the money, the consequences of our past are right on the money, and while I do not believe a collapse is coming, at least not right away, it's quite obvious that the bad habits of the past are going to crush us. I'm a senior citizen that needed to go back to work after losing half of my IRA in the current mess. I'm recovering but will never get it all back. That aside, the inflation that we're going to see as a result of ALL the governments in the world printing money and throwing it at this disaster we're living through not to mention the increase in interest rates as we run out of buyers for our treasuries, is going to make the Carter years look like a birthday party. Looking forward to part three.

We're Due for a Serious Pullback

EVERYTHING is different this time....let's just call the bazillion dollars that every government in the world is throwing at this mere pocket change and forget it ever happened....

God almighty, will you doom-sayers EVER give it a rest??? Let the markets do what they do best...adjust to conditions...and level out at the appropriate rate. Dow 14000 in 2010? Nah...2012...maybe....

As Goes GM, So Goes the Country

Author, you're a genius. E pluribus unum. Kudos. The fact that I don't like what's happening doesn't change the fact that it IS happening. We are witnessing the rapid downfall of America and that is tragic. In 50 years, we'll be the next United Kingdom. Just another second rate power. I am fortunate that I will not see it finally happen. Well said.

Wall Street Breakfast: Must-Know News

...and out of the frying pan and into the fire. What makes our auto czar think that replacing the old guard with more old guard will actually change or improve anything? And wages and benefits have to be rolled back to emulate what the Japanese are paying in order to at least partially level the playing field. Doesn't the "rank and file" realize that they're going to lose EVERYTHING ANYWAY if GM files? Just bite the bullet the way all the creditors and stockholders have and move forward for crying out loud. Of course, GM will have to build cars that everyone wants to buy....all tall orders to be completed in 60 days........

Wall Street Breakfast: Must-Know News

Listen..is it just me or am I missing something? Has it REALLY been two days since that idiot Felix Salmon has written something about the "inevitable nationalization of the US banking system?" Or did he finally put himself out of OUR misery???? One can only hope. Go back to writing another set of fairy tales, Felix. It seems to be your expertise. Thanks, US Government, for saving our butts. I know nothing is free, we'll all pay this back eventually. But for today, most of us are still working and eating. Have a great day, all.

This Is Not "the Big One"

Years ago in my youth, I had an elderly neighbor who was a steadfast democrat. Being a young Republican, I couldn't understand his philosophy about politics, the country, the economy, etc. When I sat and spoke with him one day to get a little benefit of his years, he summed up his entire dissertation with one phrase: "I remember Hoover."

When queried about why I became a steadfast Democrat, I hope I have the same conversation with a young Republican neighbor, just so I can make the statement: "I remember Bush."

God bless you Louie, and please forgive me my past sins and doubting you.

Author, I sincerely hope you're holding Morgan Stanley stock. A friggin pile of it. Errors like yours just add gasoline (even at $4 a gallon) to this flaming market. I can forgive mistakes.....not this one.

Corporate Fraud + Government Intervention = Bailout Nation

...oh,...almost forgot....author, I've never seen agreement with an article to this degree. And by highly intelligent, articulate and LITERATE participants. Also unusual. Again, nice work and I applaud those of you who commented. Nice work, too.

Corporate Fraud + Government Intervention = Bailout Nation

Jim: outstanding, outstanding, outstanding. There's nothing I like more than a little venom with my breakfast. I, unfortunately, agree with EVERY point you've made and as a senior living off of mainly financial preferreds (down about 20% at this point by the way which is a NOTABLE improvement over where I've been in the last month or so), I believe you've hit the nail on the head. However, and not to disagree but to add a little more wood to the bonfire, I also go along with Catoelder, above. He's making the same point I've made for about a year now. Here's the scenario: the moron couple who are living paycheck to paycheck with a zero net worth and (need) TWO incomes to support their "lifestyle" of Mercedes and BMW, drift into their local bank to buy an incredibly inflated $800,000 house on an interest only ARM with no money down. Their intent and thought: "...don't worry about tomorrow or building equity, I'm living the good life today." $5,000 a month mortgage, $1,000 a month in taxes = $72,000 off the top of that two income family. One loses his or her six figure job, and they're in BIG trouble. Now throw in the "unforeseen distant possibility" that the house price would actually DECLINE (God forbid) or that the ARM monthly payment would actually go up (by DEFINITION), multiply this by about 10 million additional morons, throw in a generation of greedy unregulated banks, and you've got a disaster waiting to happen. Welcome to the day care generation, folks. Their parents went to work to save for the extravagant retirement that their untaught, irresponsible children have just taken away from them. I'm digressing. Again, author, nice piece. Catoelder, smart man. Good luck, we're going to need it.

Wall Street Breakfast: Must-Know News

I can't believe I have this many people agreeing with me this morning. Hello Roman Empire is precisely the quote I made yesterday morning to a co-worker. This "administration" is a disgrace only compounded by the fact that WE (and I use the term loosely...I didn't vote for this clown) actually elected him TWICE. We HAVE terms limits. Want to change the government? Do your homework, go to the voting booth, and vote against every incumbent. Voila....it's a done deal....but 1/2 of the American populace are a certified idiots living from week to week.

Tax the hell out of the oil companies...the biggie....WHY............ Next time you need gas, despite the cost over which they have NO control either, just drive about 1/4 mile and GET IT. They provide us all with reliable, easy to find, never seems to run out, service and product. Yeah...tax the hell out of them....and watch gas in 5 years because they haven't got the money to...as the White House Idiot has put it: "...drill ourselves out of this problem." Morons.