Fitz919's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/274555/comments http://seekingalpha.com/article/179425-opec-signals-70-is-the-new-floor-in-oil?source=feed#comment-817828 817828 Tue, 22 Dec 2009 18:33:58 -0500 http://seekingalpha.com/article/178993-congress-made-the-bank-bailouts-work-for-taxpayers?source=feed#comment-816000 816000 Mon, 21 Dec 2009 13:28:34 -0500 http://seekingalpha.com/article/178997-cramer-s-lightning-round-amazon-is-a-gift-12-18-09?source=feed#comment-815982 815982
I typed Kramer three times, and I typed Labor Day.]]> Mon, 21 Dec 2009 13:15:53 -0500
I typed Kramer three times, and I typed Labor Day.]]> http://seekingalpha.com/article/178997-cramer-s-lightning-round-amazon-is-a-gift-12-18-09?source=feed#comment-815979 815979
Kramer...Kramer...Kram... Day 2008 was a good time to buy Amazon. Kramer must be smoking mistletoe.]]> Mon, 21 Dec 2009 13:13:50 -0500
Kramer...Kramer...Kram... Day 2008 was a good time to buy Amazon. Kramer must be smoking mistletoe.]]> http://seekingalpha.com/article/178997-cramer-s-lightning-round-amazon-is-a-gift-12-18-09?source=feed#comment-815972 815972 Mon, 21 Dec 2009 13:10:51 -0500 http://seekingalpha.com/article/178744-why-dick-bove-is-wrong-about-citigroup?source=feed#comment-811534 811534 Thu, 17 Dec 2009 21:36:52 -0500 http://seekingalpha.com/article/177875-the-truth-about-goldman-and-aig-becomes-clearer?source=feed#comment-804499 804499 Mon, 14 Dec 2009 00:54:01 -0500 http://seekingalpha.com/article/175370-latest-housing-numbers-are-quite-misleading?source=feed#comment-777780 777780 Bernanke tells us we're growing slowly and our banks are adequately capitalized. Meanwhile The FDIC a rare beacon of truth, informs us that 552 banks are now on the Troubled Bank watchlist, and that 124 have already failed in 2009, and oh by the way...the FDIC is now 8 Billion in the hole, and they are trying to squeeze 40+ Billion out of banks in the form of an advance on their premiums.
Remember the Public Private Partnership that was supposed to buy up the banks toxic assets...something which TARP was originally supposed to do? Well, it was supposed to start this Summer. It's now Thanksgiving, and nothing is happening. Would you like to know why nothing is happening? It's simple the Govt relaxed the mark to market accounting rules during the Spring so that the banks could raise the value of those toxic assets. Now they are like geese laying golden eggs, and they would never sell them.
Crude oil inventory data is virtually useless. They tell us how much crude is sitting in tanks. But they don't tell us how much entered those tanks or left those tanks. So you really don't know what's going on.
Remember "cash for clunkers"? The dealers couldn't get through the red tape. Dealers were promised their money in 10 days. The Govt said the program was out of money, at a point when they had only paid for a few clunkers. Congress gave the program more money. Payments were late, 90% of the cars purchased were from foreign auto makers, because only a couple of US made cars could qualify, only rich people could afford to buy cars now anyway. So rich people got their purchases of new foreign cars subsidized by taxpayers, and the Govt proclaims the entire program a huge success, and was a big shot in the arm for US auto makers.
Now lets consider a huge new Healthcare System...on second thought....let's not.]]> Wed, 25 Nov 2009 17:23:48 -0500 Bernanke tells us we're growing slowly and our banks are adequately capitalized. Meanwhile The FDIC a rare beacon of truth, informs us that 552 banks are now on the Troubled Bank watchlist, and that 124 have already failed in 2009, and oh by the way...the FDIC is now 8 Billion in the hole, and they are trying to squeeze 40+ Billion out of banks in the form of an advance on their premiums.
Remember the Public Private Partnership that was supposed to buy up the banks toxic assets...something which TARP was originally supposed to do? Well, it was supposed to start this Summer. It's now Thanksgiving, and nothing is happening. Would you like to know why nothing is happening? It's simple the Govt relaxed the mark to market accounting rules during the Spring so that the banks could raise the value of those toxic assets. Now they are like geese laying golden eggs, and they would never sell them.
Crude oil inventory data is virtually useless. They tell us how much crude is sitting in tanks. But they don't tell us how much entered those tanks or left those tanks. So you really don't know what's going on.
Remember "cash for clunkers"? The dealers couldn't get through the red tape. Dealers were promised their money in 10 days. The Govt said the program was out of money, at a point when they had only paid for a few clunkers. Congress gave the program more money. Payments were late, 90% of the cars purchased were from foreign auto makers, because only a couple of US made cars could qualify, only rich people could afford to buy cars now anyway. So rich people got their purchases of new foreign cars subsidized by taxpayers, and the Govt proclaims the entire program a huge success, and was a big shot in the arm for US auto makers.
Now lets consider a huge new Healthcare System...on second thought....let's not.]]> http://seekingalpha.com/article/174151-copper-gold-and-coal-poised-to-break-out?source=feed#comment-768273 768273
So it sounds like many of you are traders, or daytraders. I hope for your sakes that you don't hold positions overnight. That's how traders always get burned.]]> Thu, 19 Nov 2009 20:11:57 -0500
So it sounds like many of you are traders, or daytraders. I hope for your sakes that you don't hold positions overnight. That's how traders always get burned.]]> http://seekingalpha.com/article/174151-copper-gold-and-coal-poised-to-break-out?source=feed#comment-767566 767566 Thu, 19 Nov 2009 12:57:45 -0500 http://seekingalpha.com/article/174151-copper-gold-and-coal-poised-to-break-out?source=feed#comment-766361 766361 Wed, 18 Nov 2009 20:36:00 -0500 http://seekingalpha.com/article/174151-copper-gold-and-coal-poised-to-break-out?source=feed#comment-766085 766085 Wed, 18 Nov 2009 16:52:54 -0500 http://seekingalpha.com/article/173683-stocks-bounce-but-big-name-investors-aren-t-convinced?source=feed#comment-762970 762970
Why did banks take TARP money at 5%, when they had access to the Fed Discount Window money at .5%? The answer is simple they were forced to take TARP money. Our govt found that it was quick and easy to take over those banks, Chrysler, GM, AIG, Fannie, Freddie etc. Now they have their eyes on our Healthcare System, and there is nothing in their way.

For the Govt it pays to be early in the cycle...they didn't even need a ladder to pick all the low hanging fruit.]]> Mon, 16 Nov 2009 21:22:56 -0500
Why did banks take TARP money at 5%, when they had access to the Fed Discount Window money at .5%? The answer is simple they were forced to take TARP money. Our govt found that it was quick and easy to take over those banks, Chrysler, GM, AIG, Fannie, Freddie etc. Now they have their eyes on our Healthcare System, and there is nothing in their way.

For the Govt it pays to be early in the cycle...they didn't even need a ladder to pick all the low hanging fruit.]]> http://seekingalpha.com/article/159056-too-big-to-fail-has-gotten-much-bigger?source=feed#comment-655598 655598
Often times people are trying to get into a home, and at the last second the libor rate, or prime rate moves, or something beyond your control effects your credit score, and you suddenly can't get the home.

Look at the far reaching global effect our mortgage market has had.
It took down the world. A stable mortgage system will work, and it doesn't require that every dollar comes from Uncle Sam, or the Chinese.

Oh, and by the way, when the Fed raises interest rates, it causes inflation. And when the Fed raises interest rates too much, it causes a feedback loop that crushes the economy, and once crushed, inflation is once again abated.

A proven inability to pay ones debts and obligations will be obvious in ones credit history, and should be taken into account by any lender. FICO scores are more voodoo than reality when you take into account all the nonsense credit card companies are pulling to justify bumping up your interest rates.

This isn't rocket science guys, this is basic math and 4% fixed.]]> Mon, 31 Aug 2009 20:59:30 -0400
Often times people are trying to get into a home, and at the last second the libor rate, or prime rate moves, or something beyond your control effects your credit score, and you suddenly can't get the home.

Look at the far reaching global effect our mortgage market has had.
It took down the world. A stable mortgage system will work, and it doesn't require that every dollar comes from Uncle Sam, or the Chinese.

Oh, and by the way, when the Fed raises interest rates, it causes inflation. And when the Fed raises interest rates too much, it causes a feedback loop that crushes the economy, and once crushed, inflation is once again abated.

A proven inability to pay ones debts and obligations will be obvious in ones credit history, and should be taken into account by any lender. FICO scores are more voodoo than reality when you take into account all the nonsense credit card companies are pulling to justify bumping up your interest rates.

This isn't rocket science guys, this is basic math and 4% fixed.]]> http://seekingalpha.com/article/159056-too-big-to-fail-has-gotten-much-bigger?source=feed#comment-654082 654082 Sun, 30 Aug 2009 23:48:08 -0400 http://seekingalpha.com/article/157556-more-green-shoots-push-markets-up?source=feed#comment-639870 639870 Fri, 21 Aug 2009 12:04:10 -0400 http://seekingalpha.com/article/156901-the-fdic-is-broke-now-what-part-ii?source=feed#comment-635954 635954
The FDIC says it will have to pay 3.7 Billion just to cover deposits in the 5 banks that failed Friday. I knew they were broke.]]> Wed, 19 Aug 2009 01:17:00 -0400
The FDIC says it will have to pay 3.7 Billion just to cover deposits in the 5 banks that failed Friday. I knew they were broke.]]> http://seekingalpha.com/article/156585-will-the-u-s-economy-go-bankrupt?source=feed#comment-633906 633906
It's time to sing kum-bah-yah, and pass the koolaid, this party is over.]]> Mon, 17 Aug 2009 19:10:52 -0400
It's time to sing kum-bah-yah, and pass the koolaid, this party is over.]]> http://seekingalpha.com/article/156389-ginnie-mae-ceo-resigns-we-saw-it-coming?source=feed#comment-632492 632492
Oh, and why did all those banks fail? Bad loans of all descriptions.

Fannie....Freddie........ all the same sinking ship.]]> Sun, 16 Aug 2009 22:05:00 -0400
Oh, and why did all those banks fail? Bad loans of all descriptions.

Fannie....Freddie........ all the same sinking ship.]]> http://seekingalpha.com/article/155210-ppip-program-investors-have-mixed-sentiments?source=feed#comment-628303 628303 Thu, 13 Aug 2009 11:35:50 -0400 http://seekingalpha.com/article/155210-ppip-program-investors-have-mixed-sentiments?source=feed#comment-625431 625431
You see Geithner's big PPIP program sounded good when it was announced, but will never function.

Remember when Paulsen got Congress to give him 700 Billion to buy toxic assets from banks, but instead he bought preferred shares.

Neither plan has done, or will do, what we were told it would do.

Remember, once mark to market was relaxed, previously toxic assets, became highly valued assets. If they do sell any of it, it will be a scam whereby they sell it to a partner and then get it back, or simply swap assets of equal value. The goal of that sortof scam is to suck up as much Govt and Private money as possible, and then keep it for themselves...both the cash and their original assets. You will notice that the folks who get to buy these assets, are also ones who already own them.


On Aug 10 09:49 PM Living4Dividends wrote:

> Fitz - If you hold an asset that you want to get rid of, you sell
> it. All mark to market does is make your books look better.
>
> Please explain why mark to market makes a difference to PPIP investors?
>
>
> On Aug 10 09:24 PM Fitz919 wrote:]]> Tue, 11 Aug 2009 15:13:53 -0400
You see Geithner's big PPIP program sounded good when it was announced, but will never function.

Remember when Paulsen got Congress to give him 700 Billion to buy toxic assets from banks, but instead he bought preferred shares.

Neither plan has done, or will do, what we were told it would do.

Remember, once mark to market was relaxed, previously toxic assets, became highly valued assets. If they do sell any of it, it will be a scam whereby they sell it to a partner and then get it back, or simply swap assets of equal value. The goal of that sortof scam is to suck up as much Govt and Private money as possible, and then keep it for themselves...both the cash and their original assets. You will notice that the folks who get to buy these assets, are also ones who already own them.


On Aug 10 09:49 PM Living4Dividends wrote:

> Fitz - If you hold an asset that you want to get rid of, you sell
> it. All mark to market does is make your books look better.
>
> Please explain why mark to market makes a difference to PPIP investors?
>
>
> On Aug 10 09:24 PM Fitz919 wrote:]]> http://seekingalpha.com/article/155137-are-stocks-way-overbought?source=feed#comment-624228 624228
Was anyone impressed when the Unemployment rate moved from 9.5% to 9.4%? Sure they were, but they were wrong. The reason it fell was the huge number of Unemployed people who are still unemployed and will no longer be receiving checks. I watched the weekly continuing claims number falling for weeks]]> Mon, 10 Aug 2009 21:44:36 -0400
Was anyone impressed when the Unemployment rate moved from 9.5% to 9.4%? Sure they were, but they were wrong. The reason it fell was the huge number of Unemployed people who are still unemployed and will no longer be receiving checks. I watched the weekly continuing claims number falling for weeks]]> http://seekingalpha.com/article/155210-ppip-program-investors-have-mixed-sentiments?source=feed#comment-624216 624216
Sorry Geithner, your big plan went bust....but you already knew that, it was all part of your scam to bring confidence back into the market.]]> Mon, 10 Aug 2009 21:24:13 -0400
Sorry Geithner, your big plan went bust....but you already knew that, it was all part of your scam to bring confidence back into the market.]]> http://seekingalpha.com/article/152909-cash-for-clunkers-may-cost-up-to-45-354-per-vehicle?source=feed#comment-611184 611184
Super high carbon taxes for older cars, forcing people to scrap them or pay.]]> Sun, 02 Aug 2009 00:54:10 -0400
Super high carbon taxes for older cars, forcing people to scrap them or pay.]]> http://seekingalpha.com/article/152909-cash-for-clunkers-may-cost-up-to-45-354-per-vehicle?source=feed#comment-610873 610873

On Aug 01 01:05 AM Alfredo Martinez wrote:

> 100% of cars aren't able to be recycled, and much of the scrap will
> end up in landfills.
>
> www.reuters.com/articl...
> ]]> Sat, 01 Aug 2009 13:36:59 -0400

On Aug 01 01:05 AM Alfredo Martinez wrote:

> 100% of cars aren't able to be recycled, and much of the scrap will
> end up in landfills.
>
> www.reuters.com/articl...
> ]]> http://seekingalpha.com/article/152909-cash-for-clunkers-may-cost-up-to-45-354-per-vehicle?source=feed#comment-610475 610475

On Jul 31 06:08 PM Alfredo Martinez wrote:

> I never thought that this country would get so far off track that
> we would start using tax dollars to pay for people to buy a brand
> new car, then turn around and destroy the traded used cars and dump
> them in a landfill.
>
> This country is so screwed.]]> Fri, 31 Jul 2009 23:41:22 -0400

On Jul 31 06:08 PM Alfredo Martinez wrote:

> I never thought that this country would get so far off track that
> we would start using tax dollars to pay for people to buy a brand
> new car, then turn around and destroy the traded used cars and dump
> them in a landfill.
>
> This country is so screwed.]]> http://seekingalpha.com/article/152909-cash-for-clunkers-may-cost-up-to-45-354-per-vehicle?source=feed#comment-610411 610411 Fri, 31 Jul 2009 21:15:48 -0400 http://seekingalpha.com/article/152958-gdp-fell-1-in-second-quarter-will-the-economy-rebound-quickly?source=feed#comment-610330 610330
Does anybody else see how stupid this is?

Let's try to look at things differently. From the chart you see that everything always resets to zero for every new quarter. But in reality, each quarter starts where the old quarter left off. So lets divide the annulized quarterly numbers by 4 and see what we have, using just one starting point where the GDP number first went below zero and stayed there.

3rd Q -.625% -.625%
4th Q -1.35% -1.975%
1st Q -1.6% -3.575%
2nd Q -.25% -3.825%

We are being led to believe that the GDP number got better, when in reality it continues to get worse....at a slower pace.]]> Fri, 31 Jul 2009 19:13:26 -0400
Does anybody else see how stupid this is?

Let's try to look at things differently. From the chart you see that everything always resets to zero for every new quarter. But in reality, each quarter starts where the old quarter left off. So lets divide the annulized quarterly numbers by 4 and see what we have, using just one starting point where the GDP number first went below zero and stayed there.

3rd Q -.625% -.625%
4th Q -1.35% -1.975%
1st Q -1.6% -3.575%
2nd Q -.25% -3.825%

We are being led to believe that the GDP number got better, when in reality it continues to get worse....at a slower pace.]]> http://seekingalpha.com/article/152256-goldman-and-the-interconnectedness-of-banks?source=feed#comment-607502 607502
This type of fraudulent insurance scam must be unwound and then abolished. It's the worst type of leverage the world has ever seen.]]> Thu, 30 Jul 2009 00:41:53 -0400
This type of fraudulent insurance scam must be unwound and then abolished. It's the worst type of leverage the world has ever seen.]]> http://seekingalpha.com/article/152160-are-green-shoots-wilting-or-growing?source=feed#comment-606641 606641
Tomorrow morning go to the Department of Labor's web-page and look at the bottom half of the Initial Jobless Claims Report, that is where the "Actual" results can be found. Compare the actual numbers to the "Seasonally Adjusted" numbers which are at the top of the page. You can look at reports from prior weeks as well, to see just how big the lies are that we've been fed. The lies we're being fed are outrageous.]]> Wed, 29 Jul 2009 11:23:26 -0400
Tomorrow morning go to the Department of Labor's web-page and look at the bottom half of the Initial Jobless Claims Report, that is where the "Actual" results can be found. Compare the actual numbers to the "Seasonally Adjusted" numbers which are at the top of the page. You can look at reports from prior weeks as well, to see just how big the lies are that we've been fed. The lies we're being fed are outrageous.]]>