jonreagan

Greenspan's Christmas Carol Warning

Alan Greenspan's comments haven't been the least bit helpful in clarifying the complex set of challenges that our economy faces today. Rather, their sole purpose seems to lie in absolving himself of any responsibility or role in creating today's mess; to hear him speak, one would think he had nothing to do with creating the "real estate bubble"....he probably maintains that there no such thing exists. But why should he be any different? The CEO's of our major companies don't assume any accountability for thier performance.....guys like Bob Nardelli leave behind a big mess at Home Depot, and get promoted! Let's face it, Chysler will really get what it deserves at this point...and I don't mean a bailout.

Ben Bernanke's approach doesn't seem to be understood or appreciated in a society that believes there's a quick fix for everything; only time will tell. Complex problems often require complex, or at least thoughtful and innovative solutions. Perhaps a hopeful sign is that after several talking heads suggested that Mr. Bernanke had destroyed the equity markets (damn it, he's just RUINED our Christmas!) the markets seem to be functioning normally, and liquidity seems to be flowing again. And hopefully, we've begun to break the cycle which is Greenspan's true legacy--that the Fed will always step in to offer rate cuts to hungry markets (addicts?), offering short term fixes, but long term damage. For all we hear about the need for long range, "strategic" approaches, maybe 2008 will actually see them begin to take hold.

Market Crash Imminent: Get Out While You Can

Yesterday's stock market movement was due to a lot more than just WMT earnings; in fact, news from certain segments of the financial sector calmed the kind of hysteria that people like you are spreading. Goldman Sachs showed that not all financial institutions are poorly run, just some of them--just as JPM did several weeks ago. Several other favorable stories yesterday related to fundamental business success; AAPL's talks with China Mobile to take the i-phone to China was a case in point. The biggest product launch of the year, and perhaps the hottest item this holiday season will now be sold in the largest country in the world. Why shouldn't a company's stock go up on an announcement like that??? Not to mention the fact the company has a full stable of other saleable products, which have captured the consumer's imagination as well as their disposable income.
While I think most of us believe in free speech and thought, one shouldn't be able to scream fire in a movie theater, either. Seeking Alpha should look at headlines like the one on this article and decide whether such shrillness is worthy of their readers' attention. (Obviously, such writers' motives are questionable as well, if not their judgment.) Some things are so far out of the mainstream, that they should just be relegated to the trash can.

Market Crash Imminent: Get Out While You Can

Don't look now, but as I read your little essay (Tues., 1:40) you may have "sold off all your positions" a day early. But there's still time...why don't you try buying them back? You could create a whole new strategic approach: sell low, buy high.