Roberm73

Market Death Spiral Continues

It is clear Obama needs some new advisors. Who ever is written his budget and fiscal policy is an idiot. When Hope dies the market will crash.

Peter Schiff Answers His Critics

"Perhaps as a stockbroker I should have persuaded the son to wait for a correction" Early 2008 I think we all agree was a unsettled time. No advisor would have told someone to go 100% in stocks at the start of 2008. Most people with a clue where hoarding cash to see if the market would take another leg down. As for commodities it was clear in the begining of 2008 where look at a very large bubble in Oil and other 'hot' items at the time. So I find it self serving to say you could have but thought different. As for the long term investor the correct advice is to always buy in at a slow amount to any market especial for a readjustment. So if you placed all his money at work in 2008 then clearly you did not care if your client lost money.

Global Decoupling Thesis was also one your key items you pushed in 2007-2008. Clearly this was wrong. In fact it is now clear the globalazation is full effect either for the good or the bad of the world.

To me it sounds like you are just another guru who was humbled by the market and can not admit it.

TARP Accountability: Bankers Say 'What, Me Sorry?'

Hey they road the train in from NY. They understands the corparte jets would just be a bad show. Idiots. Fire them all and start over.

How Much Worse Can the Ad Market Get? Just Wait

The tech companies will suffer with the rest of the economy. Google should surivie but the stock has a lot to go down before it stops

U.S. bank deposits swell by $500B to a record $7.5T, a sign customers feel the system is working. But large institutions say they're frustrated by a recent trend that sees big customers spreading themselves across multiple banks, in part to sidestep the $250K limit on government insurance.

LOL. Yeah why would you want to customers to be safe.

Treasury Directs GM to Get Ready for Bankruptcy

So we now start at Lehman II. A chapter 11 of GM will likely set off unexpected problems. Just off the top of my head, would the Pensions problem, the heathcare problems (legacy benefits), the Bond holders who will fit tooth and nail to not take loses. The damage outside GM will terrible as well, Parts Suppliers who can get paid in the BK will go down, the many who loses there jobs will act a muiltipler of job loses across america not just Detriot. Top this with the rage already in play and you are set for massive riots of out of work people who feel the bankers got a better deal.
Just to think that this is the best of the solutions on the table.

Geithner on Yuan: Misstep or Warning Shot?

I think they are overplaying there hand here. Firing a warning shot may be good polictics but it may have terrible economic effects. Smoot Hawley Tariff Act II? History may repeat but it usually rhymes.

Treasury sells (.pdf) $14B in 30-year bonds in a messy auction at a high yield of 4.288% (vs. expected 4.19% - 57.15% of bids were at the high). Bid to cover ratio: 2.14. Primary dealers took $8.8B; indirect bidders took $4.61B. 30-year Tsys fall off a cliff, now -1.66% to 120-10.

Talk about a rock and a hard place. Let rates go up and bad things happen to economy. Have the Fed Buy the long treasury and risk the whole government.

U.S. Government vs. the Stock Market

buy the rumor sell the news has been around. In this case we may sell the rumor and the news. I not sure the Obama plans are new and may lead the market to a low as well.

Buy American = Goodbye Global Friends

During the depression it started with agricultural imports but was translated to 20,000 goods. Mostly done to help the farmer.
en.wikipedia.org/wiki/...

House Speaker Nancy Pelosi says lawmakers are considering levying a windfall profits tax on health insurers to help finance reform. The revenue would help make up for a proposed tax on high-income Americans, which is being scaled back. (earlier)

here is thought, let try to cut spending first. Lets get rid of the problems before start new ones. More Taxes are not the answer.

AP's upsetting but not surprising revelation from Tim Geithner's calendar: "Even during his most frenzied days, when Congress is demanding answers or the president himself is calling, Treasury Secretary Timothy Geithner makes time to talk to a select group of powerful Wall Street bankers." And Simon Johnson wonders how anyone can build an accurate picture of a crisis by chatting with a few top bankers.

Ever day the same story, Wall Street Bankers own the fed. Support Ron Paul and audit the fed.

Three great reads for lunchtime: 1) The IMF and the panic of 2008 2) The trouble with the 'millionaire tax' 3) Led astray by libertarianism

I am pretty sure most libertarian would say we don't need the Fed. Duh. Not what the fed polices are.

Geithner's Vague Plan

Same old, Same old. I though Tim was a terrible choice from the start. I guess the volker gang was not consulated either. Looks more Bush policies. Change you are not getting.

Global Economic Outlook: Today's Senate Testimony

Awesome post. In the end we default on the debt once the polictians over extend our credit.