Tall

Coming Soon: Banking Crisis of Historic Proportions

Capt. Brian:

Sadly, I have to agree with your post. I, too, saw this coming.
Do we have to reach financial armageddon before U.S. citizens and our elected officials come to their respective senses? This mess can be turned around. It will take time - 7 years perhaps - and discipline. Is the political will there? At this point, no. The actions of Obama, Pelosi, etc, say no.



On Aug 16 05:50 PM capt Brian wrote:

> I wonder if anyone will go back and read some of my posts weeks and
> months ago. Have to sift thru almost 200 of them, but I have been
> saying all along this was coming. In fact, I am suprised it is taking
> so long to blow a hole in the bottom of our ship of state. It took
> the captain quite a while to admit the Titanic was going to meet
> Davey Jones. I have seen this coming for over 40 year, at least since
> I was in a foxhole in Nam. Our fiscal policies just cannot and will
> not work. I don't care if you are a mom and pop store on the corner,
> or the richest country in the world, you just cannot keep taking
> money out of the piggy bank at a rate higher than you replace it.
> You MUST eventually go broke, even with the ability to make you own
> money.
>
> There is a way out of this mess because people do not want bad times,
> they do not want to 'hunker down', and protect their homes, lives,
> and food in the house. We don't want to have to fight for anything
> anymore, we have already fought and died for life liberty and the
> pursuit of happiness, and it is being ripped from our grasp. We are
> grabbing defeat from the jaws of victory, and we are allowing it
> to happen. Go ahead, ask me, is there a quick way out of this mess?
> YES YES YES, THERE IS!!! But seems no one in charge cares about anything
> but their own situation. Obamma rented a multi-million dollar estate
> for a vacation, while millions are living out of their homes. What
> is wrong with this picture. Socialism and facism for all but our
> leaders. They jam things down our throats and take other medicine
> for themselves in the form of raises and medical plans that we cannot
> have.
>
> Go ahead voters, you have one chance left to save this country on
> the edge of the abyss, and that is the election coming up, unless
> you can find some legal way to change the people in Wash. D.C. quicker.
>
>
> Woe is us, we have met the enemy and he is us.
>
> Capt. Brian.
> The Lost Navigator
> happy grins.
>
> SOMEONE HAS TO TAKE RESPONSIBILITY
> ps I am a former marine, and feel very sad for my comrades in arms
> who may have died for nothing.

Oil: A Slippery Slope Ahead?

How will crude oil prices rally when worldwide unemployment is soon to be in double digits everywhere?
Iran and Venezuela are minor players in the scheme of
things. Both countries have sour crude. Hence Iran's lust for influence in Iraq. My bet is that the Iranian regime collapses in the next year. Obama will take credit for that one. Ditto for Chavez.

Meltdown: State and Local Governments Falling Short

About a year ago, I noticed that collections of state sales taxes in Georgia(where I live) were declining dramatically.
The state estimated that gross tax collections would need to grow between 7% - 9% annually to keep up with the demands on state government. That the states are looking for help from the Feds doesn't surprise me. I hope the Federal government says no.

Cheap Crude: A Flash in the (Oil) Pan

Gentlemen:

There is no disagreement with a need for a coherent energy policy. Unfortunately, it's most likely too late for this country to have it's power grid supported by nuclear energy.
Several execs I know in the utilty industry have said that is still too diffucult to get approval to construct a new nuclear power plant. I live in the state of Georgia. Environmentalists were recently able to block the start of a new natural gas fired power plant. They cited "cost" and consultant reports that indicated conservation could make up the difference. Never mind the local populace that needs the jobs and the future economic growth that the plant could generate. This mindset is why we don't have a coherent energy plan. Don't blame the Bush adminstration, that's the easy way out. Cheney put forth proposals for an energy policy back in 2001 and it was greeted with a yawn. By the way, does anyone know what they do at the Department of Energy? I don't.

Coming Soon: The $600 Trillion Derivatives Emergency Meeting

Bosunj:

You're entitled to your opinions, as are other people around the world.
However, you'll miss the U.S. when it's gone. As will all of the other haters.
See you in hell.

Who Will Bail Out the U.S. Government?

Gentlemen: There may be a be a bright side to this: perhaps this will shock some sense into our spendthrift elected officials once and for all.
That may sound like wishful thinking, but a scalding bath may be the only think that works. I agree with Hal P. If we can return to some fiscal sanity and dispense with Uncle Sucker foreign policy, things could get better.

California Home Sales: 43% Year Over Year Increase!

Add to that an aging population of baby boomers who tend to downsize.
I'm seeing it in my own neighborhood. Within ten years, many of my retired neighbors will most likely sell the homes they are in. Housing will be soft for years.

Seth Klarman, Meryl Witmer and Marty Whitman - Q2 2008 Portfolio Moves

Finantials? If you can't spell it....

Sears? Bankruptcy? I Think Not

If Eddie Lampert donned a plastic Sear's ID badge and
started selling appliances on the sales floor I might
be interested. A wealthy hedge fund manager
cannot relate to the clientele. Home Depot and Lowe's
caught the management of Sear's sound asleep years ago.
Add Sears to the cemetary of once formidable American
retailers. By the way Todd, have you shopped there lately?

Sears Faces Risk If Economy Doesn't Improve

When I was growing up on Lond Island in the mid 1960-'s - 70's,
it was tough to beat Sears for value and quality. Our home appliances
were all from Kenmore. Just about every tool or piece of yard equipment my dad had was from Craftsman. Alas, no more. Mr. Lampert needs to focus on the basic blocking and tackling of running a department store that was known for value and quality and skip the financial engineering. Six years ago, I purchased a
storage freeezer from Sears and the sales person could not complete the paper work because he was illiterate. Three years
ago Sears Home Services was contracted to clean our ventilation ducts. The job performed was so abysmal I had to threaten court action. Just recently, I received a phone call from a Sears telemarketer. The woman on the phone spoke to me in what could only be called conversational eubonics. I wish I had taped the phone call so Mr. Lampert could have heard it. Your ship is sinking Eddie and your money is going with it.

The Great Bubble of China: Next to Pop?

Mr. Rong:

Thank you for some refreshing insight and an honest overview
of the situation. If your assertions about the lax lending and
overexpansion of the real estate market are correct, you may
hear back from Jim Rogers. You are also correct in your point
that commodity prices will fall if the Chinese economy falls into
recession. However, that would hurt the American economy
in the short(6-9 month) therm