And, more importantly, a new presidency is almost around the corner. However much Pabst may bemoan the current crop of candidates, and however valid some of his arguments may be, it can only get better. Murphy is leaving the building.
Paradoxically you're correct. QUOTE]Quote from Thunderdog: And, more importantly, a new presidency is almost around the corner. However much Pabst may bemoan the current crop of candidates, and however valid some of his arguments may be, it can only get better. [/QUOTE]
Pabst for President!!!! Excellent post man and I agree 100% with what you are saying. I say this exact same thing to my friends at school during lunch (plenty of conversations like this go on at the lunch table lol). They refuse to believe me. They refuse to believe that things are really that bad. They see the world through rosy colored glasses. I don't know if its because I am trading at such an early age that I naturally keep up on the news more or if I just see through the bull shit but one thing is for sure everyone I talk to about what your saying thinks its total BS. Let them think that! Good Trading
hehe...it can get much much worse. 9000 banks went under during the great depression. we haven't seen any banks go under yet. deleveraging is just starting and takes a loooong time. the hedge funds are still levered in a major way. also, bernanke has already used half the fed balance sheet and slashed rates down to 2.25 percent not leaving us much room for a stimulus. things can get much much worse. if obama gets elected and starts raising cap gains tax, and makes it harder for the only smart people in this country to make money and the dollar continues to be worth less than rats piss, smart people will leave this country and return to their home countries. if afraid pabst is right. foreigners will be eating us up for lunch. it sucks, but thats the reality
If dramatic weakness in data manifests itself shortly then I suspect Bernanke will be able to claim victory in his stare down with Trichet. What I find interesting,I mean really interesting, is that I don't hear any kind of criticism from Europe. Europe which never shy away from criticism of the U.S., now at a time of such discrepancy in monetary policy, Europeans manage to keep the mouthes shut. Are Bernanke and Trichet truly adversaries?Or could it be that Mr.Bernanke makes it possible for Mr.Trichet to look pretty? Could it be that Mr.Trichet knows what has to be done yet he is unwilling to do it himself? We are talking about old Europe after all. For me, Europe's silence is a significant "tell".
It sure doesn't sound like Pabst is blaming anything on GWB, although that is just my interpretation. He also doesn't seem to be "bemoaning the current crop of candidates", just a single political party. I haven't yet heard his feeling on McCain but my guess is that McCain's presidency would ease this dire forecast. I sure know it would make me feel better about the USA.
LOL hey Pabst you need to go out and get some of that south Florida sun and maybe go to south beach and look at some prime young titties, have a couple of drinks and things will look better to you. If ya'll get the big one (hurricane) I'm moving to Florida and start contracting there for a few years and then retire on the beach.
Thank you all for the comments. I reserve the little love I have left in my heart for those who read this journal. My p/l might suck tonight but all of you made me feel a whole lot better. And yes Bob, if McCain wins at least I won't have to move my suntanned butt to Manitoba or some God forbidden place.
Really great stuff Pabst. You just totally nailed it. I hate it, but we're at the point where making money and protecting ourselves is all that is left for us.