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10/16 Horrifc last hour ?
- Thread starter oktiri
- Start date
Quote from oktiri:
The MS CEO interview tells me that everybody is over leveraged, hedge funds , banks and other institutions are still 30 to 1 heading to teens to 1.
Our national nightmare is not over, I'm not risking a cent in this market, even if it momentarily go up.
Why dont you just short sell??? LOL
Quote from stock_trad3r:
thien put your money where your mouth is and short.
Say, aren't you the guy that said the S&P would NEVER go below 1200 again?
Aren't you the guy who bought commodity stocks back in January?
Aren't you the guy who said there is no credit crunch?
Aren't you the guy who said he was never wrong?
Quote from oktiri:
Even if they "succeed" in deleveraging, all it means is that credit will dry up.
Personally, I see nothing wrong with tight credit. I have all I need for life. However, I can see that hard credit would be a crisis for the young couple. Why?
1) They would have to save first before buying a new car. Fixing that old jalope is humbling, and they keep it for years. Insult to ego.
2) They would have to earn more than they spend. b-u-d-g-e-t. Another insult to ego.
3) Credit card cash advances would be history. No more borrowing to buy groceries. They would have to forgoe the McD's burger on credit in favor of whatever is in the cupboards at home. Oh, the insult to ego!
4) They would have to live cheaper, share things, carpool, live closer to family for babysitting, etc. Imagine the horror of relatives taking care of children instead of strangers. Oh, the horror!
Overall, a striking blow to the ego and a slap across the idealism of living on credit. It'll never happen by choice. We need a depression.
StockTrader, you're a disgrace. I'm not going to waste any time on you.
GermanTrader, I totally agree. But my perspective on that is different from an individual perspective (I bought my car cash, has 0 debt and live way below my means) than from my "investor/ trader" perspective.
If a cultural change is really to happen, we can expect the Dow to reach 7000 as people cut on consumption.
These really are scary times.
we're screwed if more credit is extended (inflation, more bubbles to come) screwed if not (Serious GDP contraction, higher unemployment, slower growth )
In a ideal situation, house prices would have gone up 3 percent per year, in line with wage growth and productivity gains. Affordability would have been maintained, and defaults kept within control. but that requires people to be moderate, and people are anything but that. Greed is universal.
Mortgage rates have gone up 50 basis points in the last week or so, There is more pain to come. This is FAR from being over.
GermanTrader, I totally agree. But my perspective on that is different from an individual perspective (I bought my car cash, has 0 debt and live way below my means) than from my "investor/ trader" perspective.
If a cultural change is really to happen, we can expect the Dow to reach 7000 as people cut on consumption.
These really are scary times.
we're screwed if more credit is extended (inflation, more bubbles to come) screwed if not (Serious GDP contraction, higher unemployment, slower growth )
In a ideal situation, house prices would have gone up 3 percent per year, in line with wage growth and productivity gains. Affordability would have been maintained, and defaults kept within control. but that requires people to be moderate, and people are anything but that. Greed is universal.
Mortgage rates have gone up 50 basis points in the last week or so, There is more pain to come. This is FAR from being over.
Quote from stock_trad3r:
thien put your money where your mouth is and short.
i would bet money on the fact that what stock trader says here is nothing more than his ridiculous predictions. I bet he trades day in and day out, unbiased, exactly what the market gives him just like a trader should do. he's probably short right now. he just uses this site as entertainment.
that being said, why do people waste their time to call him out on his bad calls? You think he actually trades his calls?
furthermore, stock_trad3r, maybe you should put YOUR money where YOUR mouth is. and IF you already do that, please do inform us, how much have you lost this year?