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TomT
Trad climber
Aptos.
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Norton
Can this follow the momentum thing help all of us make it through this recession?
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hobo_dan
Social climber
Minnesota
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Whats a Hobo to do?
I was mostly cash and as things dropped I shrewdly bought in- just in time to have things drop some more
and so I bought more and it dropped more.........I saw a trend and realized I was the cause of all this mess so I have stopped buying- so far so good.
There are things that have value- maybe all things have value at some point but being an out of the closet peak oil guy I am in mostly Energy stocks- which have been absolutley gutted! Very low P/E's and still no real bottom-
Norton I don't know enough to short but I think that people will continue to use fuel for heating and transport.
the present situation is not really encouraging people to invest in new wells and new exploration- my understanding was that the new stuff would compensate for the older wells becoming depleted.
Demand destruction has taken the horn off of that idea.
The race is on to see when demand and supply get close again. If they cross then energy prices should go up until then I will sit on my thumbs and watch the world go by
murf
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Dr.Sprock
Boulder climber
Sprocketville
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Frickin T Bills are making me more now than in the last 5 years of SP 50.
The Internet makes it easy to team up on the market.
You think those 800 point swings were natural?
Twitter on GE, 3-5-9 at the bell.
Next day, sell GE.
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Ricky D
Trad climber
Sierra Westside
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Jstan - would you mind expounding on that notice from Fidelity re: money market?
Wifey moved her 401(k) funds into Fidlity's MM last year as a "safe haven" - are you saying it may not be so?
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andanother
climber
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This is the part of the thread where I blame it all on the Republicans.
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TGT
Social climber
So Cal
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dogtown
climber
Cheyenne,Wyoming
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It's his economy now! He doesn't care how long the recession lasts or how much money they spend as long as they get their laundry lists passed.
I'm so sick of our leaders on both sides.
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dogtown
climber
Cheyenne,Wyoming
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Thanks Wonder;
I need that have been pretty down lately.
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AllezAllez510
Trad climber
Santa Cruz, CA
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Topic Author's Reply - Mar 3, 2009 - 09:52am PT
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I have not heard a SINGLE constructive thing come from the Republican side. All they do is BITCH about paying higher taxes. I think it's been made pretty clear that unless you make over $200k a year, you're not paying higher taxes. Maybe I'm still a bit of a dirtbag, but if you can't live on 200k a year, then you're the f'in problem. And "small business owners" won't be paying higher taxes...at least 95% of them won't.
What do the Republicans want? TAX CUTS? again? Seriously? Is that your solution to everything? Mom's got cancer? she needs a tax cut!
Where were you "fiscal conservatives" while Bu$h was spending the dough? You didn't say sh!t then and your words are hollow now.
Everyone calling Obama a communist because he wants to recreate the middle class is clueless. Ever been to a communist country (try China)? No one's "punishing" you for being rich. Taxes are not punishment, you selfish pricks.
"I love paying taxes, with them I buy civilization." _Olliver Wendell Holmes
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dirtineye
Trad climber
the south
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save your breath. the rethuglicans are a pack of fools, liars, shysters and outright con men. Fvck em, they don;t give a shyte about the country. hell they did a pretty fair job of desttoyinh ours.
Anyone still beleviening that stupid rethuglcian crap is just a moron, damn you ought to be able to see that thier ideas just plain suck-- look what they did. HAHAHA and some of you want it still. fvcking stupid shytes, too bad yo u can't get what ou deserve, cause we're all screwd if you do.
HEy rethugs, go eat some peanut butter from Georgia! that guy who sold the bad stuff is a republican business man, hell you KNOW he'd never do anything to harm you!
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AP
Trad climber
Calgary
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Dmitri Orlov would say this is the beginning of the collapse of the US. He saw the USSR collapse and sees many parallels and important distinctions between the US and the USSR.
For all of you people who say it couldn't happen:
Would you have predicted in Mar 08 that the US GDP would drop 6% in the last quarter of 08 or the biggest banks would be insolvent or the DOW could drop by this much? What do you predict about a year from now?
check out cluborlov.com
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TGT
Social climber
So Cal
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Herbert Hoover thought a tax increase was a good idea too.
The majority of those over 200k taxpayers are S Corps and sole proprietors. They represent over half the economy and hire about 2/3's of the work force.
Would you rather have a job and a growing economy, or give it to BHO?
Small buisinesses are already laying people off in anticipation of the tax hit they are in for.
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dirtineye
Trad climber
the south
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Fatty, ou are such a dolt.
I hjope we can doas well a france, wehre the peole expect the governmet toserve THEM, and not the intesrest of business.
In fact, it is actually treason for the government to serve the intersts of business above the interests of the people.
Here'sa clue: business ahs always paid taxes, they just don;t like it. they don;t like doing one thing for anyone but themselves. the7y will take it all if you let them, that is the history of the world, and anyone with half a brain can see that, you wannabe robber baron.
fatty, you love the republican ideal so much, why not move to saipan, where your fellow rethugs have hadn their way?
LOL check it out if you dare, what a freaking mess.
One day, but no time soon, the rethugs MAY realize that you need a porosperous MIDDLE CLASS to ahve a good healthy robust country/economy.
YOU fvcking morons who love the rethugilcans ahd hate Obama are just unbeleiveable. Goe eat the peant butter from Georgia, it's waht your policies brought us. be happy with that.
and whlie we are at it, please explain how hte party of smaller government and fiscla responsibility alwayas manages to raise the nationa debt through hte roof and grow goverment when they are in power.
Then they blame hte democrats for ruingin everythijng? in two months? oh god, a democrat is running things, we are all gonna die!!
Bunhc of whining rethug twofaced bastards. Wat some yellow snow for me please.
And jsut once more, for old time sake, lemme hear yo usay, " we need more deregulation."\
HAHAHAHAHAHAHHAHA IDIOTS.
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TradIsGood
Chalkless climber
the Gunks end of the country
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Interesting that AIG was mentioned with no mention of the size of its loss.
It was a RECORD LOSS - over $99 Billion in one year. To put that in perspective, it was twice the size (absolute value of ExxonMobil's record profit of last year).
They managed to lose $300 for every man, woman and child in the country. Nobody was even looking at them, or if they were did nothing. Did the NY State Insurance commissioner say anything ever, before the crisis?
In 1984 Continental Illinois failed, the seventh largest bank and the largest ever taken over by FDIC. It cost them between 1 and 2 billion - just for another comparison of catastrophic failures.
BTW:
Hoover did not have much choice. America was on the gold standard then. A loose monetary policy would have caused an international run on the dollar.
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jstan
climber
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Ricky D:
Hello again. Just saw your query.
Until recently the Fidelity cash reserves were paying between 4% and 5% but they had a substantial portion of their 120 billion in repurchase agreements. Much of that has been removed and the last yield was 1.6%. They still show exposure to Citigroup plus many securities for which one can only guess the risk. On the positive side they are obviously in short term securities and they are reacting in real time. Fidelity has done poorly in their stock mutual funds and are laying off people. While Fidelity may be too big to fail, being big also means the pain can be big.
Shortly after October 30, as I remember, the Fed acted to back money markets so that Net Asset Value (NAV) accounts like this would not have to "break the dollar" and report losses to account holders. For Fidelity's MM that backing will be removed on April 30, if I read Fidelity's report correctly.
Today or tomorrow I think I will move my balance to an NCUA insured account in a credit union paying 3.6%. I do need to research and find out what the NCUA's cash reserves look like. Hard to imagine the fed would allow NCUA or FDIC to go belly up though. So many voters would be hit directly.
As to actual securities you also have to worry about the limitations of SIPC. SIPC is not like FDIC and if there is a failure your securities may be frozen for up to three years before you can get access to them. Not good. These days, very ungood.
EDIT:
Jeff:
NCUA Insurance is much like FDIC as regards the amount insured. The only lost interest apparently is the interest not yet posted at the time of liquidation. If interest is posted quarterly then it can be substantial.
CLF funds available currently to meet liquidity needs is 41.5Billion.
http://www.ncua.gov/ShareInsurance/NCUAInsuranceFundFAQs.htm
What happens if a federally insured credit union is liquidated?
• The NCUA would either transfer the insured member's account to another NCUA insured credit union or give the federally insured member depositor a check equal to their insured account balance. This includes the principal and posted dividends through the date of the credit union’s liquidation, up to the insurance limit.
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Norton
Social climber
the Wastelands
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Fattrad, Candlesticks as a form of Technical Analysis have no proven validity, but then you just knew that already didn't you?
By the way, you should know, since you clearly do not, that it is JAPANESE, not Chinese, Candlesticks.
Stick with what you know, taxcuts for the wealthy.
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