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Latest Comments389 Comments
eBay's Donahoe Has Crow for Thanksgiving
That said, I still enjoy eBay, but you really need to check out the seller first. I can't believe some people on eBay... They'll bid in the $1,000 range with a seller that doesn't have 100% positive feedback, or has little if any feedback. DUMB!
Anyhow, eBay now reflects the economy's crash into a global depression as you watch the hard-hit regions sell everything they own for anything they can. It is really sad to look at some of the listings. Maybe eBay could make a special section called Paulson's Paupers.
November Bled a Little Less Red Ink
Maybe he didn't want to end up on a deck of cards.
Three Financial Stocks Worth Holding
As you watch the markets go up and down, keep in mind that is no longer a function of the financial health of those institutions; it is a reflection of the degree of government intervention, be it the United States or overseas.
Make no mistake, what you may think of as a stock market, is 180 degrees from what they were a year ago. An editorial I read on Bloomberg a couple of weeks ago but it best when he said, to figure out how to make money in the markets is to figure out who and when the government will bailout next. One person posted on this site that they'd like to run a FOI request on Paulson so he could get the Dow closings until January 2009. Funny, but not that far off of what is going on; market bumps are at the expense of $trillion or more now.
Next, the Fed and Treasury have provided very little, if any, transparency into what is really going on; therefore you must assume that every major institution in the United States is insolvent until proven otherwise.
Finally, listen to the cracking voices as Paulson, Bernanke, et.al. as they talk about the economy. They are all scared sh*tless (to put it mildly). Economists at leading institutions throughout the United States have been warned not to explore, in public, the possible future scenarios for our failed economy and country.
In summary, if you invest in this so-called market, you are so dumb that you'd probably support the invasion of Iraq all over again.
Microsoft and eBay Team Up: Desperate or Brilliant?
DESPERATE
Amazon, eBay: Headed for a Holiday Showdown
I notice that the U.S. Department of Commerce comes out with these amazingly high consumer-spending stats, and then revises them downward the next month.
Is there any truth to the rumor that the Patriot Act and Executive Order allows the Department of Commerce, Treasury, SEC, etc falsify data (including 10K's) as a "national security" issue? When everyone is broke on the street, how will they hide that?
I digress… I think Amazon will fare much better than other stores…
An iPhone With Satellite Radio - Gasp! Really?
Bad omen from the start.
Reasons to Give Thanks for Capitalism
I fully agree with several of the other comments here too... I give this country about an 80 percent probability of failed-state status within 18 months. Free markets do not hide the truth. Obama talks about transparency, when the NY Fed is allowing money to pass through well below target without a small press release. Transparent?
Mark, step back, away from the graphs and charts for a moment... The economy of the United States is based almost 80 percent on consumption and home building. Think about that Mark. We produce next to nothing, yet we consume most of the world's resources. Mark, how long do you think this game can go on?
I'm not really a political person -- but Obama names economic advisors, right out of the tech bubble? Please... Or, is the new game to make a new bubble even bigger than the last to keep the economy going?
Mark, the United States has powered its economy on credit, often based on bubbles for the past 15-20 years. The United States consumes, but does not produce... Do you, or anyone else, think that this can be fixed by moving the bubble from housing to the government and POOF -- it's gone?
The term in biology used to describe what we are is a parasite. This is not going to turn out well for anyone in the world. We have allowed the economies of the world, under the cover of globalization, to become dysfunctional and stratified. You can't just sit on you butt and eat your way through life based on credit that cannot be repaid. Clinton, Obama, McCain, Bush... Nobody can make this game work to a positive conclusion... There is over TWICE the debt for every man, woman and child on this globe than what triggered the Great Depression. Think about it...
I give 50-50 odds that within one year major civil unrest may break out in this country. I hope I'm wrong, but there are many economist predicting it sooner and much worse. Talking heads and idiot leaders who say the answer to our problems is in more credit and more spending should take a moment to brush-up on their Great Depression studies.
Mark, enjoy your turkey. Who knows what tomorrow will bring.
Reasons to Give Thanks for Capitalism
Interesting how you have the turkey there...
So, you would call this capitalism? American agriculture?
Mark, you need to read-up on the various farm subsidy programs that brought that turkey to market. It is about as free market as being down on the collective in the USSR.
Next stop: Five year plan for GM.
Citi's Underwhelming Bailout
Felix, just ask them!
If you believe what they said yesterday, they are strong, sound, etc., etc., etc.
So why didn't we just let em eat their own words?
So You Think You Want a Bailout? U.S. Government's Rules and Exceptions
Let's hope that the New York Times, Washington Post, WSJ, CNBC, CNN, Newsweek, U.S. News and World Report , etc. are purged by this economic collapse
.
Bush and Obama Work to Restore Confidence
Some good ideas, but as this thing goes down, we won't have the time necessary to implement some of these good ideas to effect.
When Obama says 2.5 million jobs may be lost next year, I have seen models that 10 million or more could be put out of work with the cascade starting in January.
The economic downfall will be exponential and will really pick up speed starting early next year.
I speculate, and it is only speculation, is that the political leadership knows that we are going down. Much of the spending may be an effort is to delay the fall until a transfer of power takes place.
Bush and Obama Work to Restore Confidence
Bush and Obama Work to Restore Confidence
Bush and Obama Work to Restore Confidence
You do not restore confidence in a system by having the government bailout every moronic company at every turn using taxpayer money. It is cause for concern and INCREASED worry.
Let me give you an example... Yesterday you had Citi telling the world how *strong* they are... How *sound* are... If all this is true, then why are they soaking up money from Paulson and buddies? They are not sound; they are all insolvent, save massive cash infusions from the U.S. Government.
The United States Government ran a giant Ponzi scheme on the world... How else could an economy, with almost 80 percent of the population, dependent on consumer spending survive? You don't have to be a genius to figure out an economy based on consumption will fail. We've done it by amassing such a huge debt that all of the countries in the world can throw their money into the black whole and not make a dent. Bush, Obama, McCain, the G-7, nobody can fix it.
Just wait until January and February! Where I live the box stores, the grocery stores are empty. Shopping carts with bagged items sit near the checkout stands after people have had their credit or debit cards declined for insufficient funds. Nobody is buying anything...
The Bloomberg chart of the day had projections on things like food riots... The sucker is going down. No government or governments have the ability to turn it around. As we go down, we can keep in mind it was all created by blind greed... We are all going to get what we've got coming to us... There will be nowhere to hide...
Bush and Obama Work to Restore Confidence
Basically, I can agree with Peter Schiff, until he refers to the purchase of gold and emerging markets. It is my view that economies are stratified geographically and totally dysfunctional. As we go down, we'll take China down, India, etc. China has a better chance for recovering since they actually have a production sector -- we produce very little. Out nation is toast.
Just think, we were all told that Osama and friends were the boogiemen and the real danger that will destroy our country was right here on Wall Street! Suncker's going down...