CJJ

Stress Tests Were Never a Serious Exercise

Blah, blah, blah. 90% of banks are insolvent 100% of the time if you call them to cash in at the end of a day. 100% of banks are insolvent in even minor recessions. Those are facts. You either understand this and work to solutions within that framework or you'll be writing and reading articles like this for the rest of your life that are purely noise.

A Junk Stock Rally

I love how the doom and gloomers call out anyone pointing out a contrarian point of view to their own as "misconception of reality" and "claims with absolutely no basis"...
Why don't you all realize that the market is down almost 50%. It was down almost 60%...That the markets were pricing in depression prices.
Just because typical servere contractions see a huge over-reaction to the downside before returning to the norm doesn't mean this time that will occur. I love how doom and gloomers get to say "this time is different" and at the same time say "this time is the same" when it suit their thoughts.
None of you is right or wrong because predictions are cheap and impossible.
Over the last 16 months the doom and gloomers are right. Over the last 2 months Cetin is right. Who cares really unless your timeframe was 16 months or 2 months.

The U.S. Banking System's Terrifying Balance Sheet

EXXX-freaking-ACTLY. Unless you think earning power of the banks is going to 0, they will pay back TARP and they will pay BILLIONS of dollars in divedend payments to the Government. Maybe people should be more worried to make sure that money goes to paying down the debt or into programs to spur job creation than whining that they would rather banks pay the money back right away and lose those dividends and end up in the same spot in 12 months.
In no calculation of all the money that has been "proposed" do any of the FACT GETTER OUTERS of the doom and gloom ever bring up the point that banks are already paying some of this money back.
You don't loan money out to people at an interest rate and then demand they pay it back right away. That is stupid and exactly what many of you think is needed.



On Apr 09 02:55 PM wobatus wrote:

> If I have a house that is under water and my mortgage exceeds my
> assets, I may be "insolvent", but as long as I have the income to
> pay my mortgage (admittedly many do not unfortunately) I am in no
> need t go bankrupt, and can continue to pay my mortgage, and in the
> fullness of time I will have paid off the debt. I may have overpaid,
> but we'll see.
>
> Time can heal a lot of wounds. We are healing wounds now as americans
> start to save, the current account corrects somewhat, etc. It is
> painful, but things work out in the very long run (I know we all
> die in the long run.)

The U.S. Banking System's Terrifying Balance Sheet

What the f does this mean? Really. You have a real issue with the banks?
God, where were all you mental Hercules at when this was all going down?
Start living in reality. Someone tell me why I have to believe 75% loss in value of ALL houses and ALL DEBT is rational to expect?
Yes, that is rational if you believe it is rational to see a 75% unemployment rate.
Let me clue you into something, the world as you know it would not exists if unemployement reached 75%. We would be in a Mad Max type environment.

Live in fear folks, bunkers will save you.


On Apr 08 11:25 AM Mary LaRue wrote:

> I have a real issue with the banks. It is my best guess that the
> "positive" earnings will be proven as dismal and the stock values
> will once again return to their realistic value(s).

A Cool $200 Billion for Bank of America?

The media is now SPECULATION. The market already turned into a gambling hall. The media used to just report the facts on what happened in the gambling hall.

Media before: Joe just lost his blackjack hand when his 19 was beat by the dealers 20 [Disclosure: No positions]
Media now: Joe is going to lose his next hand based solely on, well, nothing. [Disclosure: I win if people talk about Joe losing or if Joe loses, so lets all really root for Joe to lose]

Exclusive: Big Banks' Recent Profitability Due to AIG Scam?

Wake us all up when you have a shred of fact. Can't wait until bloggers save the world. Oh yea, you can't save the world sitting behind a computer.
This guy does a good job, but he's also the same guy who quoted a silly senator that claimed all money market funds were minutes away from being pulled back in September. That one was categorically false.
Believe what you want to believe. Just like religion, make believe may sound good but it ain't real.

What Else Are the Banks Hiding?

You when good money becomes bad money? When you give banks $700 billion that they are paying yield and dividends on that if you give it time they will pay back and idiots are clammoring to have the banks fail or to pay back the money as soon as possible.

Hey let's all root for AIG to fail AFTER we already own them. That's like putting $500 on a 10-1 horse and shooting it in the leg before the race.

On PPIP and Geithner's Latest Power Grab (Linkfest)

This is the perfect article that sums it up. The author starts off by "How can one simple little human being keep up with everything?"...The answer: BLOGGERS and MEDIA to the rescue

Let me make this clear BLOGGERS AND THE MEDIA are selling SENSATIONALISM AND EDITORIAL. These are not facts. They are opinion pieces no matter what stupid graph or stat these guys roll out.

Am I supposed to ascertain that by going to all of Mr. Svartsman's links that I will now be well on my way to knowing the FACTS?

NO, what I am guaranteed to know after following these links is WHAT THIS GUYS AGENDA IS.

BLOGGERS AND THE MEDIA ARE NOT THE ALMIGHTY. THEY ARE HEADLINE GRABBING, RUMOR MONGERING EDITORIALISTS WITH AGENDAS.

The Newspaper bubble has burst. Bloggers are next.

The Microwave Society's Answer to the Economy Is Half Baked

Maybe someone needs to explain that people don't need money as an enticement to do work or to do great things.
The people who created this mess and the pundits and bloggers who talk about it are overwhelming all part of the same ilk. They are slaves to money/assets and that drives every idea they have.
Once they realize their human capital is what really matters maybe then they'll get to some solutions.
This what is the crisis, solution, scandal of the moment, what can I complain about, whine about right now crap is the true crisis.

Credit Card Crunch: Creating a New Generation of Subprime

A few quick hits:
-Credit scores are a load of crap. If you don't think they are going to be changed as a result of this recession/depression you are stupid.
-The fact people are whining about dormant cards being closed is assanine. Again to the above credit scores will be adjusted in the near future so keeping lines of credit open is not a "good thing".
-Credit card companies are hiking their rates because they can and the rules are going to change soon. I agree its a bad move from the credit card users view but it helps the issuer bottom line.
-What exactly is the problem with scaling available credit back 50% if its utilization is under 20%? How do you not see that as a good thing? This still leaves over 50% non used balance.
-Cetin nails it on the head, MOST people have small balances and much of increased savings is going to paying off credit.
-People who do have large balances on many credit cards are criminals. Not sure why we are crying about them.

There are mountains of problems out there, not sure why I repeatedly have to read about this molehill. Isn't the whole goal here to allow credit for creditworthy people? Much of the complaints come from people who have been gaming the system and see their days numbered.

The Escalator of Life Is Going Down (Part 2)

Yes stop paying your taxes. Great plan. On top of that take your money out of all banks(even good ones) to create bank runs. Take your guns(which we know, we know, you just have for protection) and go outside and just start picking off people at random.

Blame it on the Constitution.

The founding fathers of the nation would be appalled at the bitching and moaning everyone is engaged in. Its hard to tell if anyone actually gives a damn or would rather just complain endlessly until the end of time.

Seems to me the solutions of today would not have led to people coming to the US and fighting the US Revolutionary War. Instead the bloggers would have just whined about the situation and worked with the Brits they opposed to destroy religion instead of fighting for it.

The Escalator of Life Is Going Down (Part 2)

You're out to shout and whine your opinion as loud as possible. Please compare the times to the fall of Rome and impress us with your populist crap.
Can we get your thoughts on global warming, religion, terrorism, peak oil, peak water and all the other BS the pundits of the world are cramming down our throats?
I just want to know how I should feel about the issues since Mr. James Quinn in the Blogosphere has it all figured out.

The Escalator of Life Is Going Down (Part 2)

Can't wait until the blogosphere saves the world. And I thought the Government was full of self loving, never wrong attitudes.

I went to your website and read your "solutions". What a crock.
A few of the highlights:
"Stop buying things"
"Contribute into your 401k until it hurts. Picture yourself handing out yellow smiley stickers at the age of 80 in a Wal-Mart as motivation. "

Why don't you describe why anyone would contribute to a 401k if they aren't going to buy things, in turn those not having jobs to make money to have a 401k. What is everyone going to do for a living? Please tell me they will all be "making things of value". Yes, the economy will improve when everyone stops buying things and starts producing things. Brilliant.

Why is "not spending" now some higher calling. If you make a lot or money or spend it you're evil. That is BS.

How about you call it how it is, spend what you can afford. Spending more than you can afford is the problem, not spending.

Can't wait until we have a society like Japan where people are afraid to spend money.

Keep on promoting your self-loathing, pay for our misdeeds agenda.

Financials Watch: AIG Brouhaha Distracts from Other Improprieties

Who are you all going to vote for when people start listening to you and we're all poor and destitute. Not because of any of the obvious corruption of the day, but because you "Free Market" champions "right the economy" by setting it back about 100 years and lead us to a 40% unemployment rate in the spirit of cleaning things up???

If this occurs it will be a classic case of the retaliator pays the price. Coming to power under such tense and terrible circumstances and then totally blowing what is left will lead to physical harm. Maybe that's why the people touting this crap ARE NOT running for office. They are very good at writing blogs and posts, but most don't have the balls or fortitude to go into office.

You are the same type of people who whine about high gas prices but then say energy reform is too expensive once gas prices go back down.
You are the same type of people who whine about the exponential health care costs of the country but say that its too expensive and complex to fix healthcare.

Bank of America: A Risky Bet That May Be Worth It - Barron's

Guess what...There are always going to be banks. ALWAYS. As long as banks are uncertain, as long as their stocks are down the whole market will be down.
Why anyone thinks getting rid of the US's big banks is a good idea is assanine. Its like people don't see the bigger harm by letting these banks go under. You can fix these problems with time. Mark 2 Market has identified the issues. We can see them. How much more transparency do you need?

If you were testing if a town of wood homes could burn down and you started the fire. After the first few houses burned down and it was obvious the whole town would in fact burn down...you are insisting that instead of putting the fire out we should hurry up and burn the whole town down. Too bad the people who are for this idea have no fortitude to rebuild the town. They'll just burn it down and rot in the ashes.

Sounds like a GREAT plan.