You Better Protect Your Ass

Discussion in 'Economics' started by ByLoSellHi, Nov 3, 2008.

  1. Intense economic deterioration like I've never seen it.

    Optimism. Pessimism. Realism. You can only use one.

    A brief purview of the latest economic data gives all indications that we are going to have one mofo of a recession or even worse.

    Come All Ye' Pollyannish, and dispel the economic demons with visions of dancing Goldilocks. If you do it, try to inject some realism into your reasoning.

    This is just a smattering of the intensely troubling headlines as I glance at TODAY'S Bloomberg (normally, this much bad news would be in a 6 month run):

    •Manufacturing in U.S. Contracts Most Since 1982 as Credit Freeze Worsens

    •Auto Sales in U.S. Plunge; October Was the Worst Month Since 1945, GM Says

    •Treasury May Borrow Record $550 Billion; Primary Dealers See Growing Gap

    •Banks Tighten Lending Standards Most on Record as Economic Outlook Dims

    •Blue Mountain Capital Freezes Withdrawals From Its $3.1 Billion Hedge Fund

    •Bankruptcy Filings in U.S. Top 100,000 a Month for First Time Since 2005

    •Goldman Will Likely Post First Quarterly Loss, Merrill's Moszkowski Says

    •Lehman `Good for Retirement' Notes Prove Worthless for `Livid' UBS Clients

    •Bernanke Push for Lower Bank Borrowing Costs Drives Treasury Yields Higher

    •India, China Increase Efforts to Cushion Their Economies From Global Slump

    •Beaten-Down BRICs See No Relief Even as Record Rally Piques Equity Bulls

    •Ebh Bank, Sydbank Desert Denmark's Athletes, Artists Amid Financial Crisis

    •Brooklyn Heights $550 Million Waterfront Condo Shunned as Demand Dries Up

    »Daimler to Cut Jobs at Alabama Auto Plant: Financial Times Link

    And to add insult to injury, there's the Bloomberg Video assortment of monumental gloom:

    Editors' Video Picks

    Jim Rogers Says Markets May Go `A Lot Further Down''s Caldwell Sees `No Relief' for Automakers

    Wachovia's Vitner Calls Manufacturing Data `Disturbing'

    Lonski Sees Manufacturing in `Deep Recession,' Rate Cuts
  2. DOW/SP/NAS pre-election "range" trading...looks like trading going into a FOMC mtg...look for market to literally "trace" the news networks as the "results" start streaming in tomorrow...then...if Obama wins=MASSIVE sell off wednesday...if McCain wins=MASSIVE rally wednesday...bottomline...Americans feel more secure with McCain at the helm than a "community organizer" even if they vote for Obama...go fiqure
  3. And you're still the same fucking moron who can't see the failures of last 8 years! Ya, go figure!
  4. I'm honored to have voted for Prez Bush in 2000 and 2004!
  5. The masses are stupid and vote how they feel instead of what they know. They feel hurt over gas prices. They feel hurt we are still in Iraq. They don't care who it is, the masses will vote for anyone but a Republican this year.
  6. Obama is a turd dressed up like a politician. He doesn't bother me. Let him try to take some of my money... see where it gets him. :D
  7. By the way, that list of headlines IS NOT CHERRY PICKED. It's EXACTLY as it appears on today (11-03-2008).

    I wanted to re-emphasize this, because it would be easy to mistake that list as a compilation of troubling economic headlines appearing over a one year period.
  8. Nothing you will be able to do about it my friend.

    Wait until the media enters denial.

    ...."uh, he never really stated he would do that...".

    He has never really stated "ANYTHING" so free to roam.

    It's a new world.
  9. so, what's the good news?
  10. Good news: Regardless of who wins, there'll be an adult with a working brain in the White House in a couple of months.
    #10     Nov 3, 2008