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  • Wall Street Breakfast: Must-Know News  [View article]
    Someone help this little brain understand! I haven't posted in a while because I can't believe the market went up 40 pts. on NOTHING!

    Housing foreclosures, dirivitve swaps and slowing consumer purchasing started this mess. Each one of these has only gotten worse each month! THESE TOXIC ASSETS ARE STARTING TO SMELL REALLY BAD TO ME!

    Foreclosures are up and now that the Obama moratorium has lifted there will be another tsunami rushing towards the banks. To make matters worse for the banks credit card defaults are up; auto loan defaults are up; commercial real estate refinancing

    Unemployment is still increasing monthly and there must be close to 20 million full, part time and self-employed people out of work, maybe more. These people along with the rest of America is still not purchasing anything. 70% of our economy is driven by this and each month it gets worse. OH, BUT THE OUTLOOK IS GREAT!!!
    Aug 19, 2009. 08:30 AM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    It's great how our elected representatives take a tough NON-BINDING stand! They sure know how to ALMOST make a point.
    Jul 29, 2009. 07:55 AM | 9 Likes Like |Link to Comment
  • Friday Options Recap  [View article]
    Why do these financials keep improving? Credit card delinquencies are increasing, auto payment delinquencies are increasing, foreclosures are increasing......

    They still have a backlog of toxic assets and the commercial real estate failures are rolling down the street.

    Yeah, the financials look good.
    Jul 26, 2009. 07:47 AM | Likes Like |Link to Comment
  • Housing Starts Still Weak - Despite Positive Headlines  [View article]
    Nothing is selling. Housing start info is bullshit!

    A tsunami wave of foreclosures are blowing down the streets this fall and will continue as the auto workers get laid off.

    The real untold story in America is where are these 18 million people who lost their jobs living once they have lost their homes and apartments??

    God bless the liberal media for lying to all of us.
    Jul 25, 2009. 02:17 PM | Likes Like |Link to Comment
  • Six Signs Economy Is Turning the Corner  [View article]
    I hate to be the pessimist but I still don't get how we may have turned the corner. I still don't see the light at the end of the tunnel!!

    Housing defaults got us into this, supposedly, and as far as I know, this has only gotten worse and with the unemployment numbers still growing, it will only continue to get worse. How long and when will the banks have to declare these losses to the market??

    Credit card payment default is increasing at an alarming rate along with auto loan payments.

    Commercial real estate and REIT's owning commercial real estate will not have access to trillions of dollars to refinance which is what everyone is talking about. Even if they can get private capital, they will dilute the existing share holders and drive down the value of their holding.

    Retail sales are still declining and many retailers are shutting their doors - hurting the job market and commercial real estate.

    The auto industry layoffs will be increasing the unemployment numbers for the next few months and who knows if GM and Chrysler will even be around in three years. Thanks for giving them my tax dollars!!

    Unemployment has turned our consumer society into a black hole in space. There is no relief in sight!

    The travel industry is taking a huge pounding and business travel is way down.

    Fannie Mae and Freddie Mac are barely hanging on and with the onslaught of foreclosures coming down the pike, they will need another shot in the arm to survive.

    AIG, GE, and other large institutuions will be suffering and probably need government aid to survive. There goes my money.

    National healthcare will take away jobs, discressionary income for the wealthy and add a whole new level of government that we will have to pay for.

    Cap and trade will make everything we use, buy, and have in our lives more expensive also. Just what we need at such a fragile financial time.

    I could go on and on! I don't see where things are getting better. At least not on main street!
    Jul 19, 2009. 02:43 PM | 9 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News  [View article]
    Let's add up all the less bad is good:

    Unemployment for the last 15 months
    Housing foreclosures
    Housing foreclosures
    Housing foreclosures
    No consumer spending
    No consumer spending
    No consumer spending
    Personal savings increasing
    Credit card defaults
    Auto loan defaults
    Fannie Mae
    Freddie Mac
    Lehmann Bros.
    Financial sector minus toxic assets and derivatives
    GM Dead
    Chrysler Dead
    Ford Crippled
    States going bankrupt - California, Illinois....
    Trillions to be spent by Obama
    Trillions to be spent by Obama
    Trillions to be spent by Obama
    Retail - crap
    Commodities - crap
    Tech - crap
    Insurance - crap
    Heavy industry - crap
    Travel - crap
    Airlines - crap
    Retail - crap
    Capital goods - crap
    Services - crap
    Transportation - crap
    Healthcare - unknown
    Utilities - unknown

    I guess when you get enough less is better you get a great list like this that you want to put all your money in!!
    Jul 6, 2009. 09:00 AM | 13 Likes Like |Link to Comment
  • The Politics of Gold  [View article]
    I may be totally wrong here guys but I read an article that said there are absolutely NONE, ZERO, electrical transmission lines from any of the nuclear reactors.

    So, if there is no way to transmit the power from these facilities, why do they need them except to make bomb materials.
    Jul 1, 2009. 08:51 PM | 4 Likes Like |Link to Comment
  • Wednesday Closing Update  [View article]
    Very low volume today. My guess is that there were a lot of people shorting for the day and the market came back late in the day again when the shorts sell off before the closing.

    Things are not good and ultimately everyone will be selling off their positions when they realize that the banks are still in big trouble, the housing market and mortgage defaults are in bigger trouble, 15 million unemployed people don't buy anything and our consumer society is not consuming and our government will do more damage than letting the to big to fail - FAIL.

    Oh, the only thing worse is that whatever money we have left, the government will take it from us because they can. Just look at GM, AIG, FNM, FRE, Chrysler, all the banks...........
    Jun 10, 2009. 10:12 PM | Likes Like |Link to Comment
  • Why to Short U.S. Treasury on the Next Uptick  [View article]
    Interest rates going up, printing more money to get us some hyper Jimmy Carter inflation, it's all rolling down the street.

    Oil, gold and treasury shorts are the long play!
    May 30, 2009. 11:18 AM | 1 Like Like |Link to Comment
  • Saut: Buying Stampede Could Break in Early June  [View article]
    If it takes a chicken and a half, a day and a half, to lay an egg and a half, how long will it take a monkey with a wooden leg to kick the seeds out of a dill pickle??

    Folks, this is the same logic that is driving the market right now!!
    May 28, 2009. 09:15 PM | Likes Like |Link to Comment
  • Trading the GM Bankruptcy  [View article]
    A smaller GM will not make any money. Might as well play taps for GM on this Memorial Day also.
    May 25, 2009. 09:45 PM | Likes Like |Link to Comment
  • The Final Hours of GM?  [View article]
    GM has been upside down for years. They lost $10 billion just a few years ago when the most cars were ever sold. Hell, Toyota sells more Camry's than all the cars Chrysler sells added together.

    The auto industry doomed itself. I do not want to pay for these dinosaurs to roam the earth anymore, no one is bailing out my business and I'm making money somehow.

    These unions knew that these companies were losing money hand over fist for years and now they cry wolf and want to put their grubby hands in my pocket to bail them out - FORGET IT.

    This is no suprise to anybody. Let them fail. Let some foreign company enter our market and let these people work for whatever the going wage is, if they can find a job.

    I am already a tired American, I don't want to be a broke American and support these blood suckers the rest of my life.
    May 25, 2009. 04:41 PM | 1 Like Like |Link to Comment
  • Chart of the Day: Stocks vs. Unemployment  [View article]
    Felix, you nailed it! Unemployment is still rising and shows no signs of leveling off. It only shows signs of less bad which the market seems to love.

    The auto industry layoffs and increasing steady layoffs in almost every industry will slowly push us into unemployment numbers that are already unimaginable.

    As unemployment rises foreclosures will increase, spending will decrease and the consumer society will consume no more.

    The financials will lead the way in collapse and the Fed. won't be able to print enough money to keep some of the big boys from failing. IT WILL HAPPEN. We have no clarity, no idea of the toxic assets, no idea of the credit default swaps, no idea if the stress test figured another 4 to 6 million home loans going into default, no idea if they factored in credit card and auto payment defaults, no idea if they factored in commercial real estate defaults.....WE HAVE NO IDEA WHAT THE BANKS OR THE GOVERNMENT ARE DOING AND YET THESE INSTITUTIONS HAVE SEEN THEIR STOCK PRICES GO UP! WHY???????

    Logic dictates these events. I do not understand how the market cannot react to reality! Green shoots and mustard seed BULLSH*T is gonna burn a ton of investors again when the big boys sell off their gains.

    Get ready for the Great depression and be ready to buy short etf's, gold, silver, short the treasuries and be ready to buy commodities long.
    May 25, 2009. 04:26 PM | 6 Likes Like |Link to Comment
  • The Next Wave of Foreclosures  [View article]
    The government did have another option which would have reduced their cash infusion to the banks. They could have mandated that all mortgages be rolled back to 4% for 40 or 50 years. This would have allowed many to keep their homes and save taxpayers a trillion dollars.

    Unfortunately with unemployment at almost 7 million, millions of more homes will be foreclosed upon.

    The rules were to lax and people who could not afford homes were allowed to own them. The adjustable mortgages also allowed people who could buy or move up to buy more house than they could really afford.

    Does anyone have a way out, PLEASE HELP!
    May 24, 2009. 08:27 AM | Likes Like |Link to Comment
  • BankUnited Fails  [View article]
    Eric, they are no different than the big banks. All of these institutions are leveraged beyond reason with poor asset portfolio's.

    What makes you think Citi, Bank of Am., Wells Fargo, and any other that holds residential and commercial real estate loans are in any better shape?? We don't know, there is no clarity, there is no public information for anyone.

    You watch, the big boys will fold as easily as the regionals soon. Regulation won't help the situation we have now.

    On May 22 10:51 AM Erik B. wrote:

    > I disagree with the previous poster's characterization of the community
    > banks. While I agree gambling houses like Citibank deserve the ire
    > of the American public, many "meat and potato" community banks took
    > part in the boom and are now paying the price and deserve to be objects
    > of disdain as well. The reason BankUnited is failing is the result
    > of poor lending policies in the residential mortgage market. Clearly
    > they were trying to ride the easy money train and created too much
    > exposure to one area. Many regional banks are about ready to hit
    > the wall, in part because of the crazy environment in which they
    > found themselves, but this would've been easily avoided if they themselves
    > had followed the basics of banking which says to manage credit exposure.
    > Instead of keeping real estate to a limited percentage of total lending,
    > many of these banks saw access to cheap money and poured it into
    > commercial and residential real estate in an effort to grow their
    > balance sheet rapidly. The fact is, the nation is over-banked as
    > cheap money resulted in the founding of new banks, resulting in ever
    > increasing competition among banks to lend. In the long term, as
    > the strong community banks survive and the "evil" big banks recover
    > with the help of the beloved government, margins will improve and
    > the system will be healthier. All said, we need more regulation so
    > this doesn't happen again.
    May 23, 2009. 03:26 PM | Likes Like |Link to Comment