Bulls are back- enough of this doom & gloom
- Thread starter HedgefundTrader2
- Start date
So basically you rely on old news, data thats old and if George tells yous to drink the kool-aid you will. Great.
I rely on my eyes and ears to lead me to ideas of where we are heading. I drive through my childhood hometown and see 3 to 4 foreclosures a block. Hyperinflated gas prices. My friends who own bars trying to sell, my friends who work at bars looking for second jobs because their tips are down 80%. Restaurants that used to have a two week wait now have open tables for walk in's on a Friday night. Why do I need to wait until July for q2 gdp to tell me something I can already see?
As far as ipods and starbucks goes. Who's buying a new ipod or iphone this year? I walked past starbucks today in Chicago's yuppy river north and the place was empty. Two years ago a saturday in April with sun and 60 degrees I would have waited an hour for a table outside at the 85th and 1st street store in my similarly yuppy UES.
2 million foreclosures is the number you should focus on. Why the hell should anyone build one when you can buy one from a broke ass bank for 20% of its material cost? From what I am hearing even when someone wants to buy a home and has a decent credit score they still can't get the loan because the banks can't fund it.
Listen dayhedge7792 your mom made you read The Secret, I get it. But just because her friend who read it hit for 5 numbers on Keno the next day for $410, doesn't mean you can will the entire country and market forward. Positive thinking combined with realistic, intelligently thought out goals and the ability to adapt to new information and influences is the real secret.
What you see and "feel "is not always the way the reality is. Your feelings are pre-configured to negative deductions!
Your emotions and experiences are not UNIVERSAL TRUTHS. Its a philosophical concept hard for you to understand. If you are feeling terrible, your world will become terrible and intolerable.
Basic fact remains if we start having negative quarters of GDP growth than we go into a recession. But ask yourself this question- even if this is a recession has the world come to an end? You are still surviving and making it or you not? Should you go out and start destroying our charts and stocks?
You have also overlooked and discounted all the great steps taken by our Feds, Treasury Department and Congress to combat a possibility of recession happening in this country. They have failed to assuage your uncontrollable fears and delusions, YES?
Soros is an institutional trader just like Goldman Sachs and they implant stories to make you sway in the way they want to trade. Have you not learned to discount anything said or opined by these big guns?
Haven't you noticed. Hedgefund always has to have the last say.
Quote from S2007S:
A foreclosure problem, expect foreclosure rates to keep rising over the next 2 years as HUNDREDS OF BILLIONS of ARMS reset, I will continue to repeat myself over and over again, it seems everyone thinks that the economy is ready to run hot again...
And what does the real estate market ( let alone the foreclosure rates that you speak of ) have to do with integrated oil companies like Chevron, oil drilling service companies like Diamond Offshore, defense contractors like Lockheed Martin, Northrop, or General Dynamics, steel companies like U.S. Steel, or fertilizer companies like Potash?
You continue to speak in "generalizations" about the Economy or the Stock Market here on ET, but you conveniently ignore that the housing and real estate markets do not have an all-encompassing and simple "cause and effect" economic impact on ALL publicly traded companies that make up the stock market.
According to all of your "Gloom & Doom" posts that are mired in highly simplistic and naive generalizations regarding the U.S. Economy and Equity Market, U.S. Steel should not be trading at new highs . . . but it is.
Again, you fail to understand that it is a MARKET of STOCKS, and not a stock market.
Thank you Landis for a remarkable post.
The fact remains the housing and financing represents only 3.1 % of US GDP. So if this sector completely dies off, we will not survive? People forget all these bad news about housing numbers possibly cannot sabotage the whole economy, yet they are used to scare people away.
Foreclousres are a normal process in real estate. I have been buying foreclousres all the time in good markets or bad markets. Foreclosures now have doubled due to a stale real estate market, but they all get taken care of somehow. Professional buyers step in and horde them paying cash and hold them till the market turns up again and make lots of money. There is a silent market for them that no one sees how these deals are picked up for cash and transformed into retail.