tag:blogger.com,1999:blog-6492542366661862113.post5530698680632182651..comments2023-10-31T01:32:09.169-07:00Comments on The Housing Time Bomb: Reality Slaps Wall St. in the FaceJeffhttp://www.blogger.com/profile/04450070920047311928noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-6492542366661862113.post-49763501012237822032008-09-23T11:02:00.000-07:002008-09-23T11:02:00.000-07:00anonI noticed that too. AIG is up big too althoug...anon<BR/><BR/>I noticed that too. AIG is up big too althought its pulled back a little. I have no idea why.<BR/><BR/>Maybe America is starting to like financial socialism :)Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-41259942202530937472008-09-23T10:11:00.000-07:002008-09-23T10:11:00.000-07:00Any reason that both Fannie Mae and Freddie Mac st...Any reason that both Fannie Mae and Freddie Mac stock is up about 60% with heavy trading. Is there something going on there that we don't know about. Thought those shares were worthless.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-57555386912040985042008-09-23T10:03:00.000-07:002008-09-23T10:03:00.000-07:00It seems traders are not liking what they hear fro...It seems traders are not liking what they hear from the the Paulson/Bernanke senate grilling on the bailout today. <BR/><BR/>DOW is down 85 points. I will have a post up after the hearings.Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-22668302154264005112008-09-22T21:26:00.000-07:002008-09-22T21:26:00.000-07:00Join the cause. Are you guys FedUp? http://biz.yah...Join the cause. <BR/><BR/>Are you guys FedUp?<BR/><BR/> http://biz.yahoo.com/bw/080922/20080922006376.html?.v=1Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-48541565182857222782008-09-22T20:22:00.000-07:002008-09-22T20:22:00.000-07:00Minton and AvlWell said guys. This is a giant clu...Minton and Avl<BR/><BR/>Well said guys. This is a giant cluster f*ck. Excuse my language but watching this country fall apart upsets me.<BR/><BR/>Minton<BR/><BR/>You are dead on with everything you said. <BR/><BR/>Your predictions about the investment bank going overseas is exactly what I think will happen.<BR/><BR/>These pigs will go to any country where they can leverage back up. New York will never be the same.<BR/><BR/>I am sure Dubai would welcome them with open arms. The US risks becoming a "has been" in the financial world.<BR/><BR/>Text books will be written about how the financial capital of the world blew it because they refused to regulate their financial system. This is TRAGIC.<BR/><BR/>Avl<BR/><BR/>Holy crap, are you telling me the gas lines from the 70's are coming back?<BR/><BR/>yikes?<BR/><BR/>All hell is breaking loose gentleman. Buy some gold!<BR/><BR/>JJeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-25619915254406303682008-09-22T19:30:00.000-07:002008-09-22T19:30:00.000-07:00[reading is believing ]Gas Shortages Force Ashevil...[reading is believing ]<BR/><BR/>Gas Shortages Force Asheville to Cancel Programs<BR/>http://www.citizen-times.com/apps/pbcs.dll/article?AID=200880922090<BR/><BR/>Frustration Grows At Gas Stations<BR/>staff reports published september 22, 2008<BR/>ASHEVILLE – Tempers flared at one Asheville gas station, where officers were on hand to keep the large crowd under control. Meanwhile, many area gas stations were low or out of gas Sunday<BR/>http://www.citizen-times.com/apps/pbcs.dll/article?AID=200880921050Avl Guyhttps://www.blogger.com/profile/12298355297869341807noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-11283876587294350422008-09-22T19:22:00.000-07:002008-09-22T19:22:00.000-07:00BTW, at 4pm here in Asheville, NC, I passed 8 emp...BTW, at 4pm here in Asheville, NC, I passed 8 empty gas stations, 3 more with gi-normous lines, and settled for one w/short lines where I still got into a verbal exchange when someone attempted to cut in front of me - on foot no less, carrying 2 mini gas cans (I didn’t make this up).<BR/>What's this have to do with Paulson's Plan & the Dow Diving?<BR/>I'm seeing how jittery J6P can get in this new world of 24/7 screaming headlines of bank meltdowns.<BR/>As much as I believe we'll never descend to guns & pitchforks, I have to admit it wont take much to trigger ...shall I type it...a b a n k r u n by these masses, and captured on U-Tube and teleported nationally.<BR/>By 5pm, the Asheville police were at the remaining gas stations that had gas. It's quite ugly out here.Avl Guyhttps://www.blogger.com/profile/12298355297869341807noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-54312012403992201222008-09-22T19:19:00.000-07:002008-09-22T19:19:00.000-07:00Avl - EXCELLENTLY stated. Truly. Couldn't agree mo...Avl - EXCELLENTLY stated. Truly. Couldn't agree more.James Bhttps://www.blogger.com/profile/13052914767131527583noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-19307360063122927422008-09-22T19:08:00.000-07:002008-09-22T19:08:00.000-07:00Call me stubborn, but I simply don't see Paulson's...Call me stubborn, but I simply don't see Paulson's Plan working. If he gets major oversight from Congress, he'll have to ditch his plan to buy high and sell low. If the Foreign Central Banks dont ape his plan, he'll get entangled in the inter-woven risks of global debt. If foreign creditors dont pony up the credit to fund this rodeo, im not sure how far out the gate he even gets.<BR/>And finally, banks’ lousy assets arise from collateralizing them with real estate that's still deflating. Home price deflation will still be running downwards to chase price affordability for J6P who's watching his earning power decline due to recession (job losses) and inflating prices for food/energy, who's shopping less, and who still cant pony-up the 20% down pmt of $50k to close on a mortgage for a $250k house.<BR/><BR/>How on earth is buying up sickly debt gonna stop the core problem of falling real estate valuations and a slowing economy? And now Paulson's rattled the dollar and oil, of all things. Even dems/Dodd’s changes don’t impact the core causes. Neither stops mortgage defaults from spreading deeper into the prime mortgage market. <BR/>Well, at least the plan is a great 2-yr 'Gubmint Jobs Program' for Wall Street's unemployed MBS traders. <BR/><BR/>It seems this story is still unfolding on its own terms regardless whether the Plan passes or not.Avl Guyhttps://www.blogger.com/profile/12298355297869341807noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-62212687958058429792008-09-22T19:02:00.000-07:002008-09-22T19:02:00.000-07:00FYI, we've just printed our Commemorate Hyperinfla...FYI, we've just printed our Commemorate Hyperinflation Dollar for collectors and people needing fires everywhere:<BR/><BR/>http://subprimeshowtime.files.wordpress.com/2008/09/100000dollarbill.jpgJames Bhttps://www.blogger.com/profile/13052914767131527583noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-55945403973527162772008-09-22T18:26:00.000-07:002008-09-22T18:26:00.000-07:00It's all over, Jeff, it's all over.Admittedly lift...It's all over, Jeff, it's all over.<BR/><BR/>Admittedly lifting from my blog, but I predict:<BR/><BR/>* The proposal will get passed and both sides will claim they negotiated victory as they make King Paulson and Henchman Bernanke the most powerful people on the planet.<BR/><BR/>* Banks will dump all their bad debt and carry on, business as usual. In a couple of years, they’ll buy that debt back from the taxpayer at pennies on the dollar and make staggering profits.<BR/><BR/>* The next administration will be unable to achieve anything due to the collossal debt (minimum $20K per person). Healthcare, social security, education, Iraq - forget it all.<BR/><BR/>* The dollar will be seriously devalued due to the endless printing of money and double-digit inflation will be rampant.<BR/><BR/>* Unemployment and crime will rise substantially, and foreclosures will continue to rise (especially now banks can foreclose, kick out the poor bastards, and then buy the debt and the house back from the RTC for a lot less!).<BR/><BR/>* Most of the larger banks will merge and intensify overseas activities, milking the US taxpayer in an over-regulated new environment but enjoying free reign in other economies.<BR/><BR/>* Hedge funds, pension funds and other large investors will evacuate from US currencies and stocks, making the system more fragile and sensitive to minor shocks.<BR/><BR/>It's going to be a sh*t show of historic proportions and probably send all the investment banking business to Europe or Asia. All because of rich, greedy criminals broke the greatest financial system in the whole world. Sad times.James Bhttps://www.blogger.com/profile/13052914767131527583noreply@blogger.comtag:blogger.com,1999:blog-6492542366661862113.post-13791516776129068792008-09-22T18:01:00.000-07:002008-09-22T18:01:00.000-07:00Just a warning to all that are using ETF's to shor...Just a warning to all that are using ETF's to short.<BR/><BR/>(SKF) which shorts financials is having problems. Because the financials can't be shorted, there are issues finding counterparty risk for the trades.<BR/><BR/>SKF should have shot through the roof because the financials were killed. SKF ended up closing flat due to these issues.<BR/><BR/>I am going to see what it does tomorrow and close it out if it continues to trade like it did today.<BR/><BR/>Crazy times out there folks!Jeffhttps://www.blogger.com/profile/04450070920047311928noreply@blogger.com