Here Comes the Crash. Black Friday For Real

Discussion in 'Chit Chat' started by ByLoSellHi, Dec 11, 2008.

  1. Everything touches the auto industry.

    Blood in the streets, fellas.
     
  2. Doesn't that mean its time to buy?
     
  3. Mr Pain

    Mr Pain

    It won't happen this way. Bush will take the $ from the $700B. We are going to have a much slower death here so that the Republicans can blame this on the Dems. They will just kick that can down the road to the Obama admin.
     
  4. Black Friday will be the direct result of Pelosi and the UAW..
     
  5. Agree - bush and his cronies will conjure up something or the other- this government and the next one will print money left right and center in an attempt to bail out their friends and political targets and dig us deeper and deeper into a hole. None of them have any thought out plan to get us out of this mess. You have Bush, Paulson and Bernanke who come out with seat of the pants reactions like huge interest cuts, lending money left right and center, bailing out citi, aig and the list goes on. They coined up the 700B tarp in the space of a few days without even thinking through it and Paulson goes on his merry way throwing darts as he uses the funds.

    Then you have Obama who has this plan to build build build infrastructure and he expects that to solve the crisis. This is some silly election campaign idea that most probably his speechwriter thought up and now he is going to implement it. Another seat of the pants idea that has no meat, no risk management, no scenario analysis or modeling.

    Yessir we are in good hands. If we're lucky the dow will bottom at 3000.
     
  6. outcry

    outcry

    SO, Everyone who is preaching a DOW bottom of 3000 is short thousands of DOW futures at these levels right?
    I didn't think so.
     
  7. Short the $ and t-bills
     
  8. LEAPup

    LEAPup

    I agree. People should put their money where their mouth is.

    However, it's looking like the blood's gonna flow today.
     
  9. Ordinary Trader


    Agree - bush and his cronies will conjure up something or the other- this government and the next one will print money left right and center in an attempt to bail out their friends and political targets and dig us deeper and deeper into a hole. None of them have any thought out plan to get us out of this mess. You have Bush, Paulson and Bernanke who come out with seat of the pants reactions like huge interest cuts, lending money left right and center, bailing out citi, aig and the list goes on. They coined up the 700B tarp in the space of a few days without even thinking through it and Paulson goes on his merry way throwing darts as he uses the funds.

    Then you have Obama who has this plan to build build build infrastructure and he expects that to solve the crisis. This is some silly election campaign idea that most probably his speechwriter thought up and now he is going to implement it. Another seat of the pants idea that has no meat, no risk management, no scenario analysis or modeling.

    Yessir we are in good hands. If we're lucky the dow will bottom at 3000.

    .....................................................................................................

    The bottom line is nothing happens without structural financial and tax change.....

    Money has to come from the consumer....thus the consumer has to have money....

    The big banks have lost the majority of US Savings deposits ....and are still trying to claim that their level 3 assets are good funds....when there is nothing there....

    Thus the amount of money that used to be available to price goods and services has been largely eliminated....

    This means that a $30,000 price has to go to $15,000 or lower to sell....There is not enough money in the system....
    The government cannot buy your car for you....The consumer has to buy it.....

    What should happen is to eliminate the IRS and establish a 10% consumption tax.....No individual taxes, no corporate taxes.....This would maximize cash flow to consumers and businesses....

    Instead the Obama administration wants to raise taxes on individuals and businesses.....is trying to take more from a diminishing base....

    This will not work....

    A 10% consumption tax only....will work....

    Drastic times call for drastic measures.....

    Money produced by "productivity" not "hand outs" works.....

    Also ....establishing a worldwide electronic securities market that is not run by gamers and crooks both from the SEC and Corporate....would most quickly replentish capital because stock can increase many times faster than debt values....

    This would require a worldwide direct access system, boilerplate regulations and accounting, reporting....and a Google-Wiki type information model....The exchange would come from the BATS model which has quickly replaced the NYSE model....

    The 10% consumption tax....and a new world wide stock exchange would get the world on the right financial track....

    If it does not.....look forward to a more severe time frame and economic stagnation than that of Japan....because of no individual savings....

    Structural changes have to be made....which have not been proposed by the Obama administration.....

    Lawyers will never understand this......
     
  10. didnt say dow is going to 3000 anytime soon - its going to take a few years if these bad decisions and bailouts continue- and as a trader i will take opportunities as i see it - you cant win by just staying short.

    in fact for today i said that sp would trade towards 900 - if you have a tradres mind you'll understand my reasoning even if you dont agree with it.

    http://elitetrader.com/vb/showthread.php?s=&postid=2217913#post2217913
     
    #10     Dec 12, 2008