The Darkest Storm is About to Descend - You Can't Imagine the Carnage

[kickboxers]

stop acting like suck up to Bernanke and Paulson.

Bernanke and Paulson are nothing but gov't 'employees' or public servants.. the boss is the people.

so they better not fuck-up!

Quote from simon1080:

Just remember.. Doctor Brenanke owns you and your lawfirm friends and the forclosures and those forcing the forclosures upon anyone.


For the time being .. him and Paulson are the Law!

They won't let things get out of hand and I will bet he gets a Nobel sometime after the crises has passed!


He is playing the role of god right now in for the USA as a nation and doing a mighty good job I might add!


Deal with each step of the crises one by one.
Get the economy ... growing gdp in place and going.. then we'll deal with the inflation !

If the Economy isn't jump started we'll face stagflation which would take us to a prolonged recession of a decade or longer magnitude!

 

[Pa(b)st Prime]

Quote from PohPoh:

Last night I had dinner with a very successful LA restauranteur..
He's a European guy, but has been here for more than 30 years...

You should have heard him spouting off Fox News sound bites like he was fucking Sean Hannity...

and I quote:
"Obama is a Muslim"
"The economy is fine - it's all in your head"
"You should be buying real estate now"
"I went long Citi at 13 and sold at 17. The banking system is all good"
"Oil is up because we don't drill enough"..

Just nonsense...

Did he indicate how his business is doing?

 

[gnome]

Quote from kickboxers:

stop acting like suck up to Bernanke and Paulson.

Bernanke and Paulson are nothing but gov't 'employees' or public servants.. the boss is the people....

Misconception... "the vote" in America is nothing more than a symbolic mis-direction. "The people" don't control JACK!

 

[heypa]

Pohpoh I'm in Cal"i"fornia. Our politicians are worse than the national average and the state is going to hell in a hand basket.
Without Prop 13 I no doubt would have been taxed out of my house in the foothills east of our great capitol by now.
Crooked politicians is an oxymoron . No one can be that stupid.

 

[syswizard]

Quote from fluttrader:

The BIG QUESTION : how are we elitetraders gonna make money out of this ?

Dunno, but I can you this, the LAWYERS are making out like bandits from both sides....for the banks and for the home owners about to be tossed. It's a freakin WINDFALL for them.
http://www.avoidforeclosurestoday.com/CBS47_update.htm

 

[clacy]

Quote from krazykarl:

A few years ago I used to think that fiat currency was bad; earlier this year I had an epiphany and understood why it is good.

There are a handful of common perspectives in this thread as to why things are so bad. I can honestly say that all these negative explanations have solidified my understanding of why fiat currency is good.



Kind Regards,

KrazyKarl,

Please explain why you think fiat currency is good.

Thanks,

 

[Arnie]

Buy,

I'm sure you're a nice guy, but I would fade any call you made. Nothing personal, but your timing is horrible.

You posted this on 5/19/2008, just as the market was rolling over.

"Bulls rejoice as we break through resistance levels of August 2007 within the next 8 to 12 weeks."

http://www.elitetrader.com/vb/showt...=127438&perpage=6&highlight=luck&pagenumber=1

 

[krazykarl]

Quote from clacy:

KrazyKarl,

Please explain why you think fiat currency is good.

Thanks,

clacy,


It places more control of the value with monetary policy instead of with the commodity that the currency is tied to. If, for example, the USD was still tied to gold and silver, then demand consumption of those commodities for manufacturing goods would increase the value of the USD falsely. Right now the US is hot on inflation, but that's not a bad thing as prices have been stagnant for some time. Inflation is necessary for an economy to grow.

The fact that the paper does not have a bottom with a commodity means that the bottom, as is being done now, is put in by the policy makers and the Forex market. This obviously means that if the policy makers don't know what they are doing then bad things can happen but only so-far as the Forex market cannot keep them honest, which has yet to happen.(fx is too large and corrupt) The fact remains that the Fed governors know more then anyone on here about what's going on with the economy.

On a personal note, to take my above comments as me having unwavering trust in the monetary policy makers would just be plain foolish. Having fiat currency allows for a more malleable development and adjustment of policy over time, which is a good thing because calling tops and bottoms is for suckers.


Regards,

 

[The Swordsman]

wow, nice find Arnie

Quote from Arnie:

Buy,

I'm sure you're a nice guy, but I would fade any call you made. Nothing personal, but your timing is horrible.

You posted this on 5/19/2008, just as the market was rolling over.

"Bulls rejoice as we break through resistance levels of August 2007 within the next 8 to 12 weeks."

http://www.elitetrader.com/vb/showt...=127438&perpage=6&highlight=luck&pagenumber=1

 

[PatrickQ]

because we as Americans get to spend, spend and spend some more ... we know the govt. will simply print more cash to keep up with our spending, regardless of deminishing buying power... then we simply blame evil speculators and corportations AND TAX the rich to bail us out. how does it get better than this?! nice, fiat currency system, nice, fiat currency system. hehe Oh, and for us small traders THIS is a gold mine. viva la volitility! the world is falling, the world is falling. It has been a very great month trading, and i know many other traders who are doing great this month as well! figure as small traders, we are sheltered from an economic slowdown ...