Where is Elaine Choa?, over 240,000 jobs lost!

I didn't call you stupid did I? Because you're far from it.

But when you toss about remarks about the uptick rule and lack of reg it's impossible to not view some of your ideas as shallow-even though your heart is in the right place. :)

There's been a zillion other breaks-including a single day -22% in 1987-with the uptick rule in place. To have had an uptick rule during the era of program trading was discriminatory to non institutional traders. For programs there hasn't been a de facto uptick rule since 1983. Repeal of Glass Steigal passed 90-8 and was signed by Clinton.

I have fewer problems with globalization than I did with the wealth inequities prior to globalization. Yes I am GLAD that American jobs have been exported to the Third World. And yes it will go "white collar" as well. Already has. But of course you're correct that the shift will cause dislodgement and all the accompanying woe of growing pains.....


Quote from limitdown:

Honestly you're full of shit.
seriously,

we as a people have had the most extreme policies and lack of enforcement of regulations (already on the books, including Glass Steigal Act and SEC's uptick rule) wreck havock over the last 8 years under Geo. Bush-II and his administration that it keeps astounding all as more and more news events show just how much has broken.

Wait until the states and the govenors release their failed budgets and loss tax revenue because of the monumental shifts enacted that deprived them of their tax bases comes out. Oh, it already has, with them lined up to get billions in bailout monies too from Congress, as if there were some printery that could accommodate all these requests.

Worse than 1929 collapse and subsequent Depression, no matter what the causes were or who's to blame, its upon us now and for the next few years.

It never really mattered who won the election, all these events were coming out into the open anyway.

Oh, on the quality of jobs being sent off shore, add to that:

....Investment Bankers
....Corporate Lawyers, (come to think of it, that's not so bad)
....all forms of advanced Computer Programming, Systems Development and Technical support jobs too

not just garment workers and low skilled wagers,

so, where were those facts gleaned from the pages of respectible daily newspapers like Washington Post, NY Times, LA Times and Chicago Tribune?, hmmmm


anyone who has over 4,000 comments on Elitetrader, such as yourself, has to have been in the game a long time, and that's worth respect,

but this name calling and cursing just to make a point, well, even in college, we always knew who the least prepared person in class was, when they resorted to that. keep it clean and respectible.
More...
 
apologies all around....
group hug everybody...

I learned from a much older floor trader,
and one thing that he insisted is "you NEVER talk politics", because when the other traders know where your core values, beliefs, viewpoints were, they would maneuver trading situations in manners that would bankrupt your account within one day...

I still don't talk politics, but I will talk Economics, and these two do overlap, however,

my frustration like millions of other honest, taxpaying Americans is such bewilderment with just how much real damage has been done in the last 8 years under Bush-II.

Clinton had said, that during his tenure, they (Republicans) would espouse their (extremist) ideas and policies and see if they could get passed, and couldn't wait until they were in majority. He said that the other (legislators and politicos) were happy that there was something holding them back, during his administration. Well after 8 years, those words have proven more true and unpaletable than normal words can describe.

It is amazing that they have managed the News Media and there was no associated public outrage and panic on a wide spread scale, as we always thought there would be with a major market collapse, even of worse magnitutde than the events surrounding 1929.

we all need to put ..... aside and work together to salvage what we can of our broken financial system....
 
who could have ever thought how much worse it continues to get,


they were saying and stop telling the news story, that in Dec 2008, (and its just now the 15th Dec 08),

that we already lost just about 1 MILLION more jobs.....

Wall Steet no longer exists
...with all the announced layoffs, there goes the NY, NJ, CT housing market, transit system and other support mechanisms

...with all the change overs to commercial banks from investment banks, there goes the so called institutional traders and their market participation that we all traded around,

....ugh, there goes www.elitetrader.com too, because we as retail traders won't have institutional traders to trade around

....thanks Elaine Chow, Geo Bush-II and others too
 
Quote from limitdown:

apologies all around....
group hug everybody...

I learned from a much older floor trader,
and one thing that he insisted is "you NEVER talk politics", because when the other traders know where your core values, beliefs, viewpoints were, they would maneuver trading situations in manners that would bankrupt your account within one day...

we all need to put ..... aside and work together to salvage what we can of our broken financial system....
More...

That's damn good advice. I don't practice it, but still a damn good suggestion.
 
Quote from CaptainObvious:

That's damn good advice. I don't practice it, but still a damn good suggestion.
More...


yeah,

politics and economics do overlap, and that's where the merky starts,

either way

we are one people, and we welcome all naturalized citizens (legal status required), and for those of us fortunate enough to be involved in the financial sector,

the opportunity to get licensed and be a trader, or get educated and be a retail trader.


what a country.....

huh?
 
Quote from limitdown:

who could have ever thought how much worse it continues to get,
More...

Ever hear of the "Commodity Futures Modernization Act of 2000"?

You might want to do some research.

It is the birthplace of credit default swaps with no SEC regulation, power contracts traded electronically by Enron without CFTC oversight, let alone West Texas Intermediate crude oil futures contracts trading in Dubai and London without position limits or CFTC oversight.

And you want to place blame on Elaine Chow?

You've got to be kidding.
 
Quote from Landis82:

Ever hear of the "Commodity Futures Modernization Act of 2000"?

You might want to do some research.

It is the birthplace of credit default swaps with no SEC regulation, power contracts traded electronically by Enron without CFTC oversight, let alone West Texas Intermediate crude oil futures contracts trading in Dubai and London without position limits or CFTC oversight.

And you want to place blame on Elaine Chow?

You've got to be kidding.
More...

good point,

thanks for throwing that brick at my thread, it broke

now, let's redefine what Elaine Chow represented...

Labor Secretary....

not CFTC or any other governmental agency

I would appreciate you taking the time to own the thread on this topic of the CFTC and these CDS's

we really need to bring more light and pressure to bear on this topic..

agreed?

agreed!
 
December 2008 ADP jobs report


-693,000 jobs

add that to all the other millions of jobs lost during this abismal administration's complete mismanagement of the US economy

through incompetent and politically connected wives of Senators' as well as

the abysmal conduct and possible collusion of the SEC and other regulators allowing the conditions that have so throroughly tanked the US economy and

as current projections are going towards almost $1 TRILLION deficit,

take a bow,
its over now.....

(hey, isn't that a popular song?)
 
so has she and that horrid Bush-II administration gone yet?

over 1 million jobs lost in 2009 (inclusive last quarter 2008 reporting figures)

over 4+ million foreclosures and many more in the works

over 4 trillion dollars in combined marketplace and household wealth evaporated....



all just to give wealthy people hundreds of thousands of dollars in tax credits, on top of all their millions of unsed wealth.

all just to give some tax breaks to corporations, as if we could ever trust them, to be honest, or create jobs or reinvest for growth in the United States....

all just to reaffirm some political / economic ideals where over 85% of the economists that know, study, teach and write the books on how these systems work, all telling you NOT TO DO these things, they did it...

all to claim smaller government, and we got the most bloated government in human history, and tanked other nations' budgets too....

are they gone yet?
 
Quote from limitdown:

so has she and that horrid Bush-II administration gone yet?

over 1 million jobs lost in 2009 (inclusive last quarter 2008 reporting figures)

over 4+ million foreclosures and many more in the works

over 4 trillion dollars in combined marketplace and household wealth evaporated....



all just to give wealthy people hundreds of thousands of dollars in tax credits, on top of all their millions of unsed wealth.

all just to give some tax breaks to corporations, as if we could ever trust them, to be honest, or create jobs or reinvest for growth in the United States....

all just to reaffirm some political / economic ideals where over 85% of the economists that know, study, teach and write the books on how these systems work, all telling you NOT TO DO these things, they did it...

all to claim smaller government, and we got the most bloated government in human history, and tanked other nations' budgets too....

are they gone yet?
More...

Would it kill you to put a little more effort into constructing a cohesive paragraph? It's hard to take someone seriously when their writing skills are on par with an 8-year old.
 
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