Igoveryfast

Prime Mortgages Are Also Going Sour

I love sarcasm as a medium of humor. Yours is perfect because it is backed up by facts to support your position. I think Borenstein is simply an ignorant shill, just like Larry Kudlow, Dennis Kneale and most of the Fast Money Traders on CNBC (where is Jeff Macke when you need him). I sure hope your posting generates a response from Borenstein, but I'm sure he'll just pontificate from his sugar fountan and not address any of the points you raise with his own words. Thank you for taking the time and having the discipline to cull Borensteins words for the rest of us. Very enlightening.


On Aug 21 05:55 PM balois wrote:

> Gabe Borenstein – my favorite!
>
> His clairvoyant prophetic words of wisdom Sep 22 2008 “...As the
> economy recovers, the financial issues will be resolved...”
>
> But, when necessary, Gabe doesn't shy away from being brutally honest
> either: Oct 02 2008 “...Article after article on this platform spews
> economic garbage full of criticism and no logical and constructive
> ideas...”
>
> And just so that we dummies do not forget his logical and constructive
> ideas:
>
> Aug 21, 2008
> “...both agencies (note: FNM, FRE) appear to be financially sound
> and their reserves are more than sufficient to cover any realistic
> exposure. Let's see if there are any more fairy tales left...” <br/>
>
> July 20, 2008
> “...It is the irrational rumors and the panic disseminated by some
> market segment and pseudo economists at a well known financial news
> TV program that have created the debacle...”
>
> July 25, 2008
> “...While economic deceleration is unnerving ,we are not in a recession...”
>
>
> July 28, 2008 &nbsp;&nbsp;
> “...All of the question marks about the U.S Financial institutions
> or system are waste of time...”
>
> June 23, 2008 &nbsp;
> “...Over the next 18 months, the Euro will slide to .80$...” (note:
> hurry up - 12 months down and we are at 1.45$)
>
> June 20, 2008
> “...the financial institutions...had written off most of the potentially
> risky exposure...”
>
> May 07 2008
> “...Perceived risks of today are not reality in the period ahead...”.
>
>
> April 25, 2008
> “...The housing market will recover by the third quarter of this
> year...all derivatives...will stabilize and stage a major rally...All
> the unrealized losses will turn into mega realized profits..”
>
> April 09, 2008
> “...the FED'S actions ,especially the "rescue" of Bear Sterns...had
> convinced me that the worse is over...”
>
> March 30, 2008
> “...all of the bond insurers can finally sit back and relax ...The
> FED ...is guaranteeing every institutional component of our system...”
>
>
> Amen

Why This Rally Will Continue

I suspect by the number of thumbs up vs. thumbs down on your comments, that people didn't take the time to understand you. I have, and will just add one more indicator to your list. When Larry Kudlow, Dennis Kneale and shills of that ilk keep bleating every day that "the recession is over", you have the perfect contrary indicator. Do you remember Kudlow's "Goldilocks, we're not in a recession" rants prior to undeniable evidence that we were in the deepest recession since the 30's? Every time I hear Kudlow shill for the market, I look for something to sell short. Over time, Kudlow has made me rich.


On Aug 13 11:34 AM j-dub wrote:

> Many more reasons for the markets to rally are listed right here,
> like it or not.
>
>
> beginning of month = rally
> end of month = rally hard
> end of quarter = rallying too hard for words
> California BK = fiscal rejiggering
> Michigan next in line = never mentioned
> CRE depression = REIT's explode higher
> Housing JUNE sales edge higher = housing is rebounding(again)
> GS front running trades = liquidity preservation
> Banks own congress and the Fed = bank rally
> consumer is insolvent = consumer is saving
> mass layoffs = across the board earnings' improvement
> earnings are not improving = earnings are beating street's expectations
>
> STILL no jobs created= the consumer is temporarilly retrenching<br/>...
> = bull rally
> expiration of unemployment benefits = unemployment is abating OR
>
> contracting(either will do just fine)
> Isn't our economy consumer based? = don't ask, don't tell consumer
> IS 70% of economy = rebound will be business based
> low interest rates = good for stocks
> high interest rates = great for stocks
> collapsing dollar = buy stocks
> rising dollar = not gonna happen
> $10 frozen dinner = sure sign of recovery
> CIT BK = HUUUUUUUUGE RALLY
> CIT not yet BK = reason to be bullish
> Bank failure Friday = stabilization
> oil @ 50 = recovery is close
> oil at $70 = recovery is incredibly close
> oil at $90 = starting to recover
> oil @ $110 = sign of increased consumer spending
> oil @ $5 = boon for Joe Consumer
> Gas @ $2 = tax break
> gas @ $3 = mustard seeds for economic recovery
> gas @ $4 = depression :)
> Gas @ $1 = not in our lifetime
> employment @ 10 % = better than expected
> employment @ 11% = as expected
> employment @ 12% = not unexpected
> employment @ 13% = could have been expected
> real unemployment right now @ 17% = never discussed
> real unemployment @ 22% = market could correct from here
> stealing from our grandchildren = stimulus
> stealing from our great grandchildren = "cash for clunkers is a huge
>
> success"
> government buying people cars = economy showing signs of life
> economy is already dead = S+P 1000, DOW 10k
> bear market rally = NEW bull market rally
> no basis for NEW bull market rally = dis-included in pumper's handbook
>
>
> 10% unemployment
> effects of socialism
> depressionary states
> higher taxes = THE NEW NORMAL
> oppressive government
> social unrest
> decending to mediocrity
>
>
> AND IF ALL ELSE FAILS(which probably will):
>
> WWIII = TANGIBLE MANUFACTURING GREEN SHOOT