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

[Landis82]

Quote from Bogan7:

So do you trade or just run around screaming the sky is falling in?

The latter.

And if you live in Florida, Arizona, or California . . . this is well known and nothing new.

Yawn.

 

[newguy05]

Quote from marketsurfer:

Totally and unequivically nonsense.

rumour and fear mongering at its finest.

surf

It's not nonsense, it's dramatization. Those numbers are old news and updated frequently. Now if you said something similar about credit cards with numbers to back it up, then maybe it's worth a discussion. Because the credit card issue currently is not part of the pre-existing market sentiment yet, so it has shock value if something bad were to come out.

 

[crgarcia]

Quote from prof. charles:

So you say this is public information, yet you don't think the market has priced this all in? You think you are smarter than the market?

Agree, the market ANTICIPATES news, seldom it reacts.

It's already priced in.

 

[ElCubano]

Quote from Landis82:

The latter.

And if you live in Florida, Arizona, or California . . . this is well known and nothing new.

Yawn.

Im afraid we gots lots to go around these here parts...Ugly isnt here yet IMO....so while its nothing new housing is going down...it going to be a surprise to see the magnitude when its all said and done...Cranes as far as the eye can see...just like we were in awe when it went up...we aint there on the other direction yet...people are going to start jumping off them overpriced boxes in the sky...

 

[gnome]

Quote from crgarcia:

Agree, the market ANTICIPATES news, seldom it reacts.

It's already priced in.

As with most market cliches, your statement sounds like it comes from snake-oil rhetoric and is only partly true.

Market "anticipates SOME changes" (often wrong about its anticipations, too)... that's about it.

 

[RhinoGG]

Quote from syswizard:

This will produce roving bands of homeless, hungry US citizens who will be knocking on our doors looking for a hand-out.
Some will be nice, others will try to rob you.
Better get your guns !
We are about to go into a police state in the USA.

Tin Hat Wizard prolly hangs out at GLP.
Ha!

 

[ByLoSellHi]

I guess the market priced in nascent tech companies that never turned a single profit, and produced nothing but websites and 'growth projections' on powerpoint, popping with a loud, vicious 'snapping' sound, before the event.

And that, also, was obvious in its tell, prior to happening.

...Pets.com, Ariba, Exodus, Digital Island, InfoSpace, Inktomi, Mercury Interactive, Sonera...

 

[Hydroblunt]

Quote from ByLoSellHi:

They told me over dinner and drinks at Morton's that the volume of work and size of foreclosures is growing like a plague. They both said they are contemplating quitting, because their firms can't hire enough people to handle the work, and paralegals are asking for 20% pay raises, and getting it - no arguments at all.

Amazing that in the middle of all these troubles, the slimiest, sleaziest, leeching industry, aka legal, is prospering. Just sad, really.

 

[Pa(b)st Prime]

Quote from Hydroblunt:

Amazing that in the middle of all these troubles, the slimiest, sleaziest, leeching industry, aka legal, is prospering. Just sad, really.

Leave it to you Blunt to unearth the truest nugget of all.

 

[Pa(b)st Prime]

Quote from PohPoh:

Clueless...
the 30's depression was deflationary...
this one won't be..

Fuck Japan in the 90's and the US in the 30's....
Study up Argentina and Weimar Germany...

When the US Dollar shits all over itself after the Chinese depeg, the Chinese will become far wealthier while Americans get poorer and poorer. You think they want to ship all their goods over here for our worthless paper dollars? They'd rather consume them themselves. A sharp correction in currency and rising interest rates over the next few years, and the millions of lost American consumers will be replaced by TEN TIMES as many in Asia.

You're correct.

We already had the "crash" ala the 1930's. It was Tech 2000-2003.

This is the 70's. And yes the risk is a Miami condo trading for a million worthless dollars rather than finding no buyers above zero.