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  • Seven Stocks for an Impending Apocalypse [View article]
    Once I had the buggy whip market sewn up I was planning on expanding into luxury accessories like fringes for the tops of surreys. (obscure reference to the song from "Oklahoma!")

    Fortunately the Cayman Islands are good for any business if you have $100 Million in your pocket.
    Oct 17 02:21 PM | Likes Like |Link to Comment
  • Seven Stocks for an Impending Apocalypse [View article]

    I have already mentioned I am drawing up plans for a buggy whip plant.

    I am thinking of an IPO for 100 Million shares at $1 per share.

    Once that is complete I will be taking the capital raised and heading off for the Cayman Islands to find the building site for the factory. Everyone knows that the Caymans are know for their buggy whip technology, right?
    Oct 17 12:26 PM | Likes Like |Link to Comment
  • Have Investors Reached the Point of Maximum Pessimism? [View article]
    Don't worry, Obama will make everything all better.

    For somebody.
    Oct 17 12:15 PM | Likes Like |Link to Comment
  • Credit Card Defaults Are Just Beginning [View article]
    PS. dozer:

    My car only cost me $3500 about 2 1/2 years ago. And that included the cost of a new radiator. I self-financed the purchase by going to my wallet and paying in full.

    The only car payments I have are insurance and fuel. Well within my budget.

    There are still some of us out here that live by the old rules.
    Oct 17 12:09 PM | Likes Like |Link to Comment
  • Credit Card Defaults Are Just Beginning [View article]
    Let's not forget that bankruptcy laws were recently re-written to be more strict on the filer. Some will be surprised to find out that their unbacked credit card debt is in fact still backed by bankruptcy court imposed wage garnishings.

    The fun is just getting started.

    Oct 17 12:06 PM | Likes Like |Link to Comment
  • The Problems of a Non-Independent Fed [View article]
    I suppose they could keep flipping Treasuries between the FED, Goldman Sachs, and JP Morgan. As long as the price kept going up everyone would make profits, right? Isn't that how it works?
    Oct 17 12:00 PM | Likes Like |Link to Comment
  • Financials: Is Fiscal Prudence Too Much to Ask For? [View article]
    Golly Gee! I took an evening off and missed out on all the good stuff again.

    Curbs, moonbat, thedozer: Great stuff.

    I don't have anything to do with 'my website' except to advertise it. It's a great place to educate yourself. I've been reading it for nearly 10 years now and it's where I first discovered Ron Paul about 8 years ago.

    Believe it or don't, I intended to write in Ron Paul for President in 2004 but there wasn't a spot for a write in on the ballot. I guess I'm ahead of my time.

    As for taxes, I say get rid of everything except excise taxes. Require spending to be less than the amount collected the prior year minus any shortage from the year prior to that. Force fiscal prudence and the many-headed hydra of government will wither and die, replaced by private concerns which actually produce stuff that the public wants and needs with much less waste. Cronies would have to find real jobs that actually do some good for the economy.

    I'm also with moonbat (and Ron Paul) on the multiple competing currencies idea provided they are all fully backed by something tangible. No fractional reserve banking. Everything funded from somebody's savings or you just don't bother.

    And FYI. It WAS a full moon, on Tuesday.

    Good luck with the recording career dozer. Feel free to use any lyrics I have posted here on SA.
    Oct 17 11:56 AM | Likes Like |Link to Comment
  • Will We Know When We've Made a Low? [View article]
    The author makes a good point.

    Personally I am not trying to 'catch the bottom'. I wish to catch the gains during the next bull market and avoid the losses of the current bear market. There is a significant difference.

    Patience pays.
    Oct 17 11:23 AM | Likes Like |Link to Comment
  • Is the S&P 500 at Just the Right Level? [View article]
    The author should repeat the chart 1 exercise with the Dow and start drawing the straight line in 1932. He will find that the market jumps far above the 60 year straight line trend beginning at the point where the author starts his exercise in the early 1980s.

    The bubble started in the 80s with the government's increased deficit spending. The period shown by the author's straight line is growth generated by credit expansion and the sharp jump upward in the mid 90s is the start of the frothy stock bubble. Greenspan's irrational exuberance.

    Extend the longer term straight line growth from the 30s and you will arrive at a more modest estimate for the S&P 500 around 500 instead of 900.

    Reversion to the long term mean will require further drops in the major indices.
    Oct 17 11:18 AM | Likes Like |Link to Comment
  • The Problems of a Non-Independent Fed [View article]
    "The most common asset (US Treasuries - in maroon) has disappeared, and has actually gone negative"

    'Gone negative' implies we have begun printing new money to deal with the current crisis, doesn it not? If the Treasury is creating new debt for the FED to use, it follows that the FED must be creating new money to lend in exchange.

    The FED is out of non-inflationary ammunition. Any future problems will be met by application of the printing press (or its digital equivalent).
    Oct 17 11:04 AM | Likes Like |Link to Comment
  • Have Investors Reached the Point of Maximum Pessimism? [View article]
    The bottom will be near when 'stock' is a dirty word no decent person would dare utter.
    Oct 17 10:44 AM | Likes Like |Link to Comment
  • Not All Recessions Are Equal [View article]
    One other point the author overlooks is that this is the first recession where US savings have been nearly non-existant for some time. Past recessions of note (ie. the more severe ones) began with a much higher rate of personal savings than is now the case. We have less capital cushion to fall back on when riding out the storm.
    Oct 17 10:12 AM | Likes Like |Link to Comment
  • Bear Markets Are Time For Action [View article]
    Mr. Market is providing one more chance to hop on board the gold bull at discount prices. An option worth considering in this economic climate.
    Oct 17 10:04 AM | Likes Like |Link to Comment
  • Financials: Is Fiscal Prudence Too Much to Ask For? [View article]
    The best 'fix' for the financials is for every depositor to remove all of their deposits from the entities which take government bailout money. Let them figure out how to operate without any reserves at all.

    Remove their entire reserve basis so as to expose them for what they are. Central Bank fiat distribution agents.

    While we're at it, everyone should cease doing any business with them at all if possible. Don't even get a loan from them. Let them stagnate and die.

    They deserve no less.
    Oct 16 05:00 PM | Likes Like |Link to Comment
  • Can We Prevent Asset Bubbles? [View article]

    Concentration makes my brain hurt. All those cards to remember when you're trying to find a match.

    Once I failed the "don't EVER use Austrian Economics" portion of the test for President I was disqualified for a lifetime at the FED. C'est la vie.

    I have been reduced to annually doubling (or more) my account balance by speculation in order to survive. Sigh ... it's a hard life, but now that I have secured a really big interest only adjustable rate loan I'm ready to get started. I figure if I can make 0.01 per share for 100,000 shares a day I will be able to get by.
    Oct 16 04:44 PM | Likes Like |Link to Comment