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  • Spain Announces Beginning Of End: The Unfolding Global Fiasco Is Near [View article]
    Tom, I think you have to take the blinders off. Spain is broke; Greece is broke; Italy is broke; France is broke; Portugal is broke; Belgium is broke; Hungary is broke; England is broke; Iceland is broke; Japan is broke; U.S. is broke.............

    Everyone of these countries has unsustainable debt which is going to create an event that will make the Great Depression look like easy street!!

    The U.S. has $18 trillion of debt plus Fannie/Freddie/Sally/Post Office/Amtrak.......the Fed keeps printing money.....We are easily looking at $20 trillion plus in immediate debt, where is that gonna come from.

    If this doesn't scare you, you got balls of steel. How about 15 million still unemployed, 9 million homes in foreclosure, no income interest for the last 4 years for seniors, spiraling entitlement program costs..........

    The world has been playing kick the can and the markets love it. Just wait till the sh*t hits the fan and the Dow goes back to 7000 and takes 10 years to make it to 12,000!
    Jan 21, 2012. 10:28 AM | 27 Likes Like |Link to Comment
  • How Have U.S. Stocks Defied Gravity for So Long? [View article]
    The author is dead on his talking points! This market TRADES pre/post hours and the rest of us are lucky to pick at any type of bones. Volume is low and no real new money is coming in.

    Trillions of dollars are still on the sidelines. When the government is unable to print more money and bubble up the markets, when they change the rules for risk, when they ablolish capitalism and break up the giant companies again,.........

    Whole countries are still on the financial abyss, 40 U.S. states are also. 160 banks have failed and they expect 200 more to fail in 2010. 2 million more residential foreclosures, no end to unemployment numbers rising, no one spending money on - travel, dining out, autos, insurance, clothing, home remodeling, houses............

    There is nothing, NOTHING, that should have made this market go up as much as it has. When Humpty Dumpty is going to fall is the great unknown, but you can be sure it is going to happen! The slight of hand driving this market is getting easier to see each and every day!
    Mar 7, 2010. 10:28 AM | 24 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    The beginning of the collapse of commercial real estate; 2 million more foreclosures coming in residential real estate and short sales are gonna solve the problem. Obama is finally gonna look at spending cuts - WHAT HAPPENED TO HIS LINE ITEM VETO????

    This is the one that gets me folks - STIMULUS AVERTED GREAT DEPRESSION ll :

    I am not an official economist by any means but I think we are still on the brink of the GREAT DEPRESSION ll and here is why:

    1. 160 banks have failed.
    2. 500 more banks are on the failed watch list.
    3. Commercial real estate is just starting to collapse.
    4. 2 million more homes are going into foreclosure.
    5. Fed lending rates are at 0% still, what does that tell you!!!
    6. Credit card debt and defaults with auto loans are piling up.
    7. Unemployment is still rising and people ARE NOT spending money!
    8. Iceland, Greece, Spain, Portugal are bankrupt countries.
    9. California is bankrupt and 40 other states are in big trouble!
    10, Europe and Asia are in worse shape than the U.S.!!!
    11.The U.S. debt ceiling has been raised twice to 14.4 trillion and it ain't over yet! Debt to GDP ratio is greater than than Greece!!!!!!!
    12. Fannie and Freddie are guaranteed for $500 billion by Obama.
    13. FHA can't be in good shape either, oh boy!!
    14. GM and Chrysler will never make it with auto sales of 11 million. They were both losing money at the peak of 14 million units.
    15. Every market is bubbled by taxpayer money, Financials, Auto, Insurance, Housing, Mortgage.......the bubbles will burst!
    16. Small businesses are still closing by the 100's each day. I know first hand because I am on the brink!!!!!

    I don't know about anyone else but I can barely sleep at night knowing that we are teetering on the edge of a major financial collapse, not only for the U.S. but for the world!! I am no expert, but am I the only sane one and the rest of the world has their head in the sand?
    Feb 17, 2010. 08:03 AM | 20 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Bernake and Obama have spent us into collapse. Now Obama demands $1.6 trillion more tax revenue over the next ten years.

    Nov 14, 2012. 08:27 AM | 19 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Wow lets recap:

    -Government won't bailout book stores
    -Government won't bailout music and entertainment industry
    -Government prints money to own and owe more to government

    -Government doesn't probe government on who in government dropped the ball on wallstreet, madoff, stanford.......

    -Government doesn't probe government on who in government dropped the ball on letting the oil spill happen in the Gulf

    -Government doesn't check on U.S. laws to know that it is illegal to legislate mandatory healthcare and government will spend $100's of millions to make sure they are wrong

    -Government totally screws up the mortgage and housing market and no one in government is responsible. Thanks Barney Frank
    Feb 2, 2011. 08:36 AM | 19 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Insider trading, another arrest!! WOW our government is sure great at protecting us!

    Did anyone from the SEC get fired or had their head put on the public chopping block for Lehmann Bros, Madoff, Stanford and others........NO

    Did anyone from the department of the interior get fired or put on the public chopping block for the BP oil spill........NO

    Did Barney Frank or anyone get fired or put on the public chopping block for Fannie Mae or Freddie Mac............NO

    Has anyone taken the blame for an almost failed social security and medicare system...........NO

    There is absolutely no accountability in Washington. There is only blame that us on the outside that pay for their lives are the bad guys and the enemies.

    When will we be bright enough to fire these mental midget?????
    Dec 30, 2010. 07:31 AM | 19 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    150 banks have failed in 2010 and almost 500 have failed since 2008. I know, you say that these are the small ones. But the big boys have some of the same portfolios in commercial and residential paper.

    How can Bank of America, Citi, GE, and all the others with major real estate portfolio's not be in the same situation.

    I am no genius but Uncle Sam says there are 5 MILLION homes that will be in foreclosure and I just read that another 2 MILLION homes can be added to this mess because the people that live in them who can pay are not paying because they are so upside down in their loans.

    I don't think I know how to count that high but 7 MILLION x whatever the average price of a house is - IS MORE MONEY THAN UNCLE SAM CAN PRINT!!!!!!!

    The whole system is a "HOUSE OF CARDS". Are there some good things happening in the economy, sure! Are there a lot of really underlying bad things in the economy - I believe there are so many of them that we will see that double dip that we are not suppose to see.

    -Mortgage failure with the banks/Fannie/Freddie;
    -Social Security and Medicare going bust
    -Municipal Bond failure tsunami on the way; hello unemployment
    -Deficit Spending
    -Printing, printing, printing money
    -Unemployment not going away
    -Inflation with every commodity

    Happy New Year if you can get excited about anything! Me, I am incredibly scared about what the future holds for me.
    Dec 27, 2010. 08:06 AM | 19 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    WOW are we screwed again or what?????

    Didn't we just vote for no more spending and bailouts, is this some kind of joke???? The FED is gonna spend between $600 billion and a trillion more dollars to keep the stock market up! Oh well, whats another trillion here and trillion there. This is the same as forcing healthcare down our throats! Get yourself some commodities and gold folks cause Jimmy Carter INFLATION is right around the corner.

    GM is still the same worthless brand it was before, only it shed billions of debt to bond holders and share holders and Obama gave the union the company. Management did NOTHING with the unions to renegotiate existing wages and benefits for workers and for their retiree benefits. It will still cost them $4,000/vehicle to pay for retirees!!! They lost $10 billion at the peak of 14 million auto industry sales, HOW ARE THEY GONNA BE PROFITABLE WITH SALES OF 10.5 MILLION?????

    FANNIE/FREDDIE - these two dead giants are still gonna cost taxpayers $100's of billions because most of the paper they carry are for people that are upside down on their loans, can't make the higher apr payments and have lost their jobs!!! YIKES, get ready folks, WE ARE GOING TO HAVE TO HIDE OUR MONEY IN THE MATTRESS SO UNCLE SAM CAN'T FIND IT TO TAKE IT AWAY FROM US TO PAY HIS BILLS.

    I am more scared than ever about this country, this economy, and our so called leaders that put us in this position!
    Nov 4, 2010. 07:49 AM | 18 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I disagree with you Andrew - look at Freddie and Fannie. Most of these loans were given to people who could not afford homes and/or should never been allowed to get loans and additonal financing for a home.

    Let them stay in the house, that's fine. But don't think for one minute that these and many educated owners didn't bite off more than they could chew at 3%apr. They just couldn't chew anymore at 10%.

    Who's full now?? The banks with mortgages they should have never made thanks to Barney Frank and our great liberal policies.

    Now, you and I will pay the bill to keep us from financial collapse again.

    If its one thing that I learned as I get older. When you play by the rules you get BURNED!!!! I worked hard, I saved money, I did everything right and somehow my government will figure out how to take it away from me to save everyone else who f*cked up!!
    Oct 11, 2010. 09:17 AM | 18 Likes Like |Link to Comment
  • Stress Test Leaks: Endgame Emerging [View article]

    1. Existing toxic assets on the books.
    2. Existing credit default swaps on the books.
    3. Total lack of clarity for the toxic assets due to approved governmental voo doo accounting for the banks.
    4. Increasing unemployment that will:
    a. Increase the number of bad mortgage defaults.
    b. Increase the number of bad credit card defaults.
    c. Increase the number of bad auto loans and auto leases.
    5. The tsunami of defaults coming down the financial district in bad commercial real estate loan defaults.
    6. The tsunami of bad loans by GE Capitol that will bury GE.
    7. The continued closings of small and medium businesses and their loan defaults on the banks.
    8. Whatever happened to Fannie Mae and Freddie Mac - still in big trouble as unemployment increases.
    9. OH, is AIG out of trouble yet?? I think not and either are all the major insurance companies.
    10. Uncle Obama is printing money faster than I can count to 8 Trillion.
    11. Our consumer nation is not consuming anything.
    12. What happened to the auto industry? There goes another 200,000 jobs and all the collateral that goes with it!!!!! Any real shock on the markets??
    13. Our government is outright lying to us about our economy and will surely do so with the lack of STRESS TESTS. Do BAC and C need $10 Billion or $70 billion?? With all the cover up accounting and lack of information do you and I really know??? I figure they must be if they let the banks look good so we don't panic!!
    14. House sales are up 3%, OH BOY! But these are not the sales of new homes. If you are a first time buyer, there is no way that these people have 20% down to buy a house. If you would like to move up, unfortunately you can't sell your house to do that. So what is the big deal with a 3% increase in home sales? Additionally, most of the big home builders used the Chinese drywall from 2005 to the present. Imagine the 10's of thousands of class action law suites that will put these companies into bankruptucy over the drywall!!!! Imagine if people walk away from their houses and just let the banks have the Chinese drywally houses if there is no other recourse!! WOW WHAT A GREAT HOUSING MARKET!!!
    15. LESS BAD IS GREAT. I want whatever the market morons are smoking to understand how things are so great now.

    No offense folks, if only a few of these things make any sense, we are in for some major trouble. The Fed. cannot print enough money to save us. All cannot be as rosy as they would like us to believe.

    May 4, 2009. 09:22 PM | 18 Likes Like |Link to Comment
  • A Sober Wake-Up Call The Morning After [View article]
    Author, if it's not the upcoming fiscal cliff it will be the additional $4 to $6 trillion Obama will spend the next 4 years, or our lack of energy policy and the dependence on foreign oil and/or the Middle East blowing up with the problems in Syria, Libya, Iraq, Iran, Egypt....., or with Europe closer everyday to insolvency and wiping out 10% to 20% of our GDP......

    You pick your poison, the picture moving "FORWARD" with the wrong vision won't get you anywhere!!
    Nov 7, 2012. 08:13 AM | 17 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    My regards and best wishes to your family on Staten Island bernie 1. I saw the news on Staten last night and was horrified at the damage they absorbed - flooding and streets still full of water, no power, no water and no assistance for 500,000 people. ALL resources should be going to help everyone in need.

    Just two political comments here. If it was Bush and there was no assistance in 3 days the Demo's would be running a three ring circus 24/7!!

    And now Bloomberg, babbles out global warming and the marathon will go on! Talk about not caring for the people of his city in the middle of a crisis and taking resources away from people in need.

    Alright I'll throw one more in - It totally pisses me off that more Americans are not upset that Obama was out campaigning while we left our embassy and fellow Americans unprotected and unassisted in their time of crises.

    So all of you that think Romney is a heartless asshole that doesn't care. Look at all the above actions of your liberal leaders and tell me that your proud!
    Nov 2, 2012. 09:04 AM | 17 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    GM going public, WHAT A F*ing JOKE!!!

    Did they lower union pay with existing workers - NO
    Did they lower benefits with existing workers - NO
    Did they lower benefits with retired workers - NO

    Did they change anything about their operations- NO

    The Obama administration wiped out bond holders, preferred share holders, and share holders screwing anyone and everyone except the union.

    Are they ever gonna be able to repay the $100 billion they owe us between the GM bailout and the GMAC Financing bailout - NO

    If GM lost $10 billion when 14 million cars/year were sold how much will they lose when only 11 million cars are sold per year!!

    You do the math, I'm tired of the logic that will continue to let TO BIG TO FAIL continue to fail at the cost of myself, my children and probably my grandchildren to be!!!!
    Oct 15, 2010. 08:32 AM | 17 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    When will we ever know the true financial status of what's going on!

    The press has no problem telling us about Iceland, Greece, Spain, Portugal but what about here?

    We now have 200 bank failures and 500 more banks on the failed watch list! We have the FED contesting the giving information to the public regarding the institutions that received tarp money the would have ACTUALLY FAILED had they not received this money!

    We have 30 states in bankruptcy trouble and countless cities and towns that are also on the verge of bankruptcy.

    We have 5 MILLION more foreclosures and the collapse of commercial real estate. We have credit card payment defaults and auto loan still increasing.

    We still have small businesses cutting their labor force or closing their doors because we can't get loans.

    We have Uncle Sam still running the printing presses and owning a huge chunk of Wall Street. You have the new health care bill that will probably cost $3 trillion with no repayment! Tarp has not gone away and a second trillion dollar jobs program is on the way.

    You know folks, I literally do not sleep at night knowing that everything I look at everyday on my trading monitors is total BULLSH*T!!!!!!!

    There is no way that this country has a 70% improvement with 30 million unemployed and the foreclosure tsunami coming at us daily.

    I don't know what will be the final straw will lands on the camels back and when it will happen. I just know when you look at all this debt load, all we do is postpone the inevitable failure of something. You don't need to be a financial genius to see the writing on the wall.
    Mar 29, 2010. 09:00 AM | 17 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Sh*t in a bucket and this market wants to go up!

    Our government just got out the shovels to bury our country, thank you Washington for bankrupting MY COUNTRY with $24 trillion of debt!

    Literally folks, this is a totally out of control situation and Washington is going to turn us into a third world country.
    Jan 2, 2013. 08:07 AM | 16 Likes Like |Link to Comment