Seeking Alpha


Send Message
View as an RSS Feed
View marketman54's Comments BY TICKER:
Latest comments  |  Highest rated
  • Even With A Fiscal Cliff Deal, Stocks And The U.S. Economy Will Unravel In 2013 [View article]
    I couldn't agree more! Give a wealthy guy money and he is gonna figure out a way to make it work for him - most likely invest it in something. If that doesn't help create jobs then GEOST you have no understanding of how these people became "rich".

    The real issue IS NOT relieving the wealth of their monies but cutting off the hands of our elected officials so they can't spend another penny of OUR money!

    The author is correct: fannie/freddie/fha/sal... post office, amtrack, SEC, Dept of the Interior.......every business the gov is is is a massive loser and there is NO ACCOUNTABILITY! Was one official fired for any of the Wall Street failures? How about the Gulf oil spill? NONE!

    This country is failing GEOST because lemmings like you believe the bullshit about taking money from someone else who has it to solve a problem. The problem is Washington, not the wealthy guy!

    The problem is that our economy sucks and $20,000,000,000,000,000 will make us a third world country. The problem is that Washington is a spending junky. The problem is that the middle class pays virtually NO income tax and has no stake in the game! The problem is that we have NO energy policy and won't use our natural resources oil/coal/ng!!!!!

    The problem is that we have lots of problems and really only have to solve one or two to get back on track but we won't do it.

    Pretty soon they will be taking every penny to keep the country afloat!

    If you are smart, get gold and silver coins/bullion and hid it. Convert or hide your cash in the mattress because Obama will be in your pockets, wealthy or not very very soon.

    You can't keep giving away the house my friend.
    Nov 10, 2012. 09:34 AM | 11 Likes Like |Link to Comment
  • Is Joe Sixpack's Economy Deep Into A Recession? [View article]
    On another note, if it were not for my trading skills, or lack of at times, I would be a Joe right now!! I have been a builder for 30 years and will be closing up shop by the end of the year.

    The Obama administration has done NOTHING to assist the small businesses of this country. Only the fortune 500 have gotten assistance and profited from it or gone out of business with $500mm loans like Solyndra. Funny, no senate investigation on this??

    I can tell you first hand that as a home remodeling contractor that had 12 employees and sales of $1.6mm in 2007 - my industry and company have virtually fallen off the chart with 2 part time employees who might work 8 days a month with corresponding sales of maybe $125K.

    There is no doubt in my mind that this DEPRESSION has only gotten worse since late 2008 and there is NO POSSIBLE recovery without a housing industry!

    There are more than 1 million construction jobs lost in my state of Florida and with 9 million plus homes in the foreclosure pipeline (over a million in Florida) and who knows how many others are under water and soon to join this number because NO ACTION has been taken by the Obama administration to help people refinance and lower their mortgages with the likes of Citi, Wells Fargo, JP Morgan.....!!

    When the price of your home continues to devalue, why would you make any improvements - room additions, kitchen and bathroom remodeling??

    I am a dinosaur and a part of the dying residential construction industry. The only thing that can save my industry in South Florida is a major hurricane that blows us off the map!! I can only HOPE for such catastrophic storms, they will CHANGE my outlook!!

    I was lucky enough to short this market in 2008-2009 and smart enough to ride it back to the 12,000 level. It will be time to short it again soon and I can retire and then because of Obama's rich vs poor class division, I'm sure I will get to pay for his trillion(s) dollar spending blunders and mounting national debt.

    I love this country, we have become less free and less brave in the last 20 years. Somewhere our government quit caring about us and fell in love with the power and greed and cash that Washington provides. I mean really, if you or I or Martha Stewart traded on inside information, we go to jail!! But until 5 months ago, it was totally acceptable for ALL of Washington to benefit from this, WTF!

    The following is a paid political announcement!!

    I did not vote for HOPE, I did not vote for CHANGE. I voted for leadership and experience to get us on the way out of the worst financial times this country has seen. I didn't get what I voted for and unfortunately we all got the short end of the stick. So here's my unqualified $0.02 - the country better HOPE that things CHANGE or we will soon be a third world country making Greece, Spain, Portugal, Ireland, Italy......look much more attractive.

    I know there are many of you who truely believe "OH THIS CAN NEVER HAPPEN" - we are too smart, too innovative, too creative!! Unfortunately, we have been watching it happen for the last 2 1/2 years and "WE THE PEOPLE" have sat silently on the sidelines and let it happen. $22 trillion of debt and still no action has been taken! The market gets excited that we and Europe will play some more kick the can, print some more money, create some more debt and not implement any austerity!!

    GOD BLESS AMERICA because no one in Washington will!!
    Jun 17, 2012. 12:05 PM | 11 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I don't think we have even scratched the surface on these bank failures. Fannie/Freddie/FHA/Sally took on $ trillions of debt away from the banks the last couple of years but we all know that there are 9 million homes in the foreclosure tunnel and another ton of homes underwater that will break something, somewhere at sometime!!

    With no mark to market, we won't know the magnitude of the coming bank failures until it's to late!!
    Feb 27, 2012. 09:25 AM | 11 Likes Like |Link to Comment
  • Overtaken by Events [View article]
    Well basehitz I have the regrettable chill of agreeing with you.

    You have Chairman Banana printing money and the big congressional brain trust not cutting spending.

    How can you in your right mind think we are gonna come out of this mess with 15 million people still out of work, 7 million homes in the foreclosure pipeline, trillions being printed with no plan to pay back the debt and still no one failed except Lehman's and those that were ripped off by Madoff and a host of other con men!

    It is a deadly game of kick the can and the only thing that can be done at this point is to watch when it hits the wall.
    Feb 13, 2011. 10:47 AM | 11 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Hey, maybe the SEC could go after itself and have half a chance of being successful!

    They botched up Madoff, Stanford, and a whole host of others.

    Maybe if they put a few of their own on the chopping block - we would at least feel good that someone took the blame for screwing up!!!

    Not one person was fired or brought to the forefront for not doing their job. We were only offered the excuse that its tough to get good employees for what the government offers in pay and benefits!!!!! WOW
    Oct 15, 2010. 08:39 AM | 11 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    OK folks, does anybody actually believe that things are better on the streets of America????

    I know the trend is our friend and yes this bear is trading etf's that reflect the up trend to make a few bucks but I will tell you that this market is just a place to park money and pray until the SH*T hits the fan.

    - Almost 500 banks have failed since 2008, 127 so far this year.
    - 15 million people still do not have jobs.
    - Layoffs continue as we continue to stagnate.
    - 30 + States and countless cities are on the brink of collapse.
    - AIG, GM, Prudential, Citi, Fannie, Freddie...will never pay us back.
    - Federal gov't is not doing anything to cut the budget and spending showing a total irresponsibility for any kind of fiscal policy.
    - $ Trillions printed and spent foolishly with no impact on the economy.
    - TAX THE RICH who make up 40% of consumption will sink us again.
    - FORECLOSURES, FORECLOSURES, FORECLOSURES 5 million strong piling up on the desks of BAC, WFC, C, GE Credit, Fannie Mae, Freddie Mac........
    - Commercial Real Estate defaults piling up and sitting on the desks of regional banks.........
    - People cannot refinance because their homes are worth 30% to 50% less than original prices making it impossible to lower their mortgage rates. A ton of adjustable loans are coming due in 2012.
    - Consumption is marginal at best and will remain flat or decline.
    - Gold is soaring and will continue to do so until we get see some stability in the world monies and the great fear of a double dip depression leave the playing field.
    - Oil prices and commodities continue to rise as investors seek tangible assets over equity. BUBBLE, BUBBLE, BUBBLE, this is not demand driven
    The man on the street CANNOT get credit and has no money to spend.

    International companies may be doing better and thats a great thing. Us local small businesses are choking and gagging!

    Are we slowing down, hell us little guys never sped up! Nothing has changed for small business America and now it will only get worse.
    Oct 6, 2010. 09:32 AM | 11 Likes Like |Link to Comment
  • Jobless Claims: This Is Progress? [View article]
    Every number and comment we get from the government is BULLSH#T and all their forecast are lies!

    When the can gets to the end of the street with no jobs for 15 million people, 5 million homes going into foreclosure, 500 more banks failing, commercial real estate collapsing, the Fed printing more money, taxes going up instead of government cutting their spending ways........yadi yadi yadi......

    It is bad and this fantastic recovery will turn into the full blown depression that is the reality on the streets of America!
    Sep 30, 2010. 12:43 PM | 11 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    When you set the bar so low that most companies can beat their revenue/earnings, what is there to really get excited about?

    Home sales rise, still awful. Retail rises, still awful. Mortgage defaults rise, still awful. Commercial real estate vacancies rise, still awful.

    It is good to see that auto sales are improving, but with a 40% drop any improvement is really good!!

    I don't see any improvement. I realize that some businesses are doing less than marginally better, but on main street it is still bad!!!
    Feb 3, 2010. 07:40 AM | 11 Likes Like |Link to Comment
  • GE Is David Hartzell's Highest Conviction Holding - Here's Why [View article]
    What about the article that was written 6 months ago about GE being a giant finance company that just happened to have some manufacturing divisions???

    That article stated that GE Consumer Financing was going to be in huge trouble because of their credit card payment defaults. What about GE Mortgage defaults????

    I think there are alot more unanswered questions here than information provided.

    Until people start spending money I think this is very speculative and its a crap shoot to buy and hold GE.
    Nov 23, 2009. 07:38 AM | 11 Likes Like |Link to Comment
  • Recovery Still Looking Jobless [View article]
    The only good news is that less bad is good. I don't get it, there are 10 million lost jobs in the last 15 months NOT INCLUDING PART TIME UNEMPLOYED AND THE SELF EMPLOYED!!!! The government is telling us that there are 20+ million unemployed.

    Let's see, that means there are 20+ million not spending on retail, not going out to eat, not traveling, not purchasing anything but food, not buying cars, losing their homes or apartments, not paying their auto loans or credit card payments............

    If the GDP was 70% dependent on consumers and you take away 10% of the consumers how can you expect to have 4% to 7% growth ??

    Things are crap on main street and we are all in this for the long haul.
    Sep 30, 2009. 08:11 PM | 11 Likes Like |Link to Comment
  • Job Losses Are Not the Problem [View article]
    And here you have it in a nut shell my friends. Instead of doing everything possible to resolve this problem from the bottom up, instead of the top down, this is where I believe we have made a huge mistake.

    The economy could have been totally stimulated by giving the same amount of money back to each taxpayer rather than give it to the banks, insurance industry and auto industry or any other misfit corporation with its bonus packing hands out asking for relief.

    At this point, Uncle Sam and company could have given each tax paying house hold a check for at least $10,000. This would have been a major boost to the economy and would have created a stimulus that would have saved a lot of industries in the short term.

    We would have had the same national exposure to debt except the consumer would have been able to steadily assisted the economy with the cash infusion.

    Hell, I'm happy that I didn't get a penny. I'm looking forward to paying back the $2 trillion which will = $9 trillion.

    Can't wait for them to take away my social security benefits or making me work to 72 years old, tax the hell out of my 401K retirement savings and assets and tax the hell out of my inheritance. Oh, and I can't wait to help pay for everyone elses healthcare also!!!

    To bad Teddy died, I would have liked to thank him for creating the welfare system because I am probably going to be on it. Sorry I played by all the rules my whole life. Maybe I should just piss it all away now like Uncle Sam is so he can take care of me the rest of my life.

    All in all I feel just great about almost personally paying for the debt.

    On Aug 30 01:35 PM Karen Consumer wrote:

    > My current job is looking for a job. Today I start week 10, and I'm
    > looking for a job that will pay $12 an hour, because no one is going
    > to pay me $20.27 (which is what I was making), nor will they pay
    > me $18, $16, or $14. $12 is what they are offering, and damn few
    > of them are offering it.
    > So far 98 applications/resumes, 1 (one) interview, and NO job offers.
    > So inflation (job creators going nuts trying to hire me) is the least
    > of my worries.
    > And what other worthwhile things do you think I should be doing?
    > Volunteering is out of the question, as that takes me away from my
    > full time job hunt, and most of those positions have either been
    > taken by people unemployed longer than me, or have gone away because
    > donations are down and places have had to close their doors (Brighter
    > Tomorrows, a women's abuse victim shelter is a specific example here
    > in Texas, had 3 buildings, are now down to 2, even though help requests
    > have doubled).
    > Going to school is also limited. All I can afford is community college,
    > which is already over capacity from all the unemployed who have been
    > on the rolls longer than me, it counts against me if I do it during
    > 8-5 business hours (because then I'm not able to look for work according
    > to workforce rules), and books aren't covered by any loan program.
    > So while I could afford $90 for a 3 credit hour, normally books run
    > $200-$500 per that same credit hour (and those are the used prices,
    > which there are very few used books out there). And getting the state
    > to pay for training is a no go, my friend E has been trying to get
    > state paid training (she's having to leave computers all together
    > and is going for nursing) but the state and the feds are still working
    > on the release of funds (4 months and counting).
    > So I pray and hit the job boards. And hope that the government slows
    > down the 'screw the american people, save the too-big-to-fail banks/financial
    > institutions and make a legacy Obama can be proud to have changed'
    > mentality.
    Aug 30, 2009. 07:52 PM | 11 Likes Like |Link to Comment
  • Tuesday Outlook: Commodities, Global Markets [View article]
    Great article. Volume has been lacking for months. When do the big boys start the sell off and trap all the suckers?
    May 5, 2009. 07:25 AM | 11 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    You forgot to throw in his helper, Barney Frank!!
    Jan 7, 2013. 10:35 AM | 10 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    The Volt is a worthless 30 mile machine and GM is still operating like the dinosaur that it is.

    Our wonderful tax dollars of $38/share now worth $25.50/share in a year when almost 15 million cars will be sold. Besides $200 billion in bailouts and who knows how much forgiven debt - these incompetents STILL CAN'T MAKE MONEY!

    They should have let this POS company go to a bankruptcy liquidation and stripped it of its union. Instead, every bond and stock holder got raped by the government on the bullsh*t deal.

    Capitalism gone, free markets gone! Hello comrades
    Dec 4, 2012. 09:01 AM | 10 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Wow, Europe unemployment is at an all time high and it keeps climbing. Their debt is out of control and their governments have no control to help out the system. Doomed to fail!

    It looks like the path we have here. Both parties robbed from SS for years and took and spent foolishly. Now we have a combination of problems with the "Fiscal Cliff" and our looming debt and unemployment problems.

    We are in line right behind Greece, Spain, Portugal, France, Italy and all the talk and no action is making America ill.
    Nov 28, 2012. 09:28 AM | 10 Likes Like |Link to Comment