sell! sell! sell!

[tiznow]

elections have little to do with it comeon

i admit elections play a role but historically they are generally GOOD for the markets regardless of who the players are

as they pander and intervene to prop up markets

plus alot of spending on election shit good for economy....just look at all the money spent by all the campaigns etc...elections good for the economy...i know being a moonbat i'm participating much more in the economy (spending more money) than i would otherwise be....

housing crashing, banks in so trouble, job market finally showing signs of weakness, recession likely on the horizon are the main players in play here

honestly shocked the markets aren't lower based on the news of the past 3-4 months, but than again partially due to the fact that they've cut 1% and will continue to do so thrashing the dollar so that helps brace the fall

 

[tiznow]

more "intervention" during election season...and bush trying to protect whatever legacy...bush don't want us being "officially" in a recession come jan 09

-------------------------------

Paulson: No Easy Answer to Mortgage Woes
Monday January 7, 3:52 pm ET
By Martin Crutsinger, AP Economics Writer
Paulson Says There Is No Simple Solution to Housing and Mortgage Crisis

WASHINGTON (AP) -- The Bush administration is working to combat the country's severe housing crisis but there is no simple solution, Treasury Secretary Henry Paulson said Monday, adding that a correction in the housing market is "inevitable and necessary."

Paulson said the country was facing an unprecedented wave of 1.8 million subprime mortgages that are scheduled to reset to sharply higher rates over the next two years. He said this raised the threat of a market failure and was the reason the administration brokered a deal with the mortgage industry to freeze certain subprime mortgage rates for five years to allow the housing market to recover.

"By preventing avoidable foreclosures, we will safeguard neighborhoods and communities and fulfill our responsibility of protecting the broader U.S. economy," Paulson said in a speech in New York. "However, let me be clear: there is no single or simple solution that will undo the excesses of the last few years."

Paulson said that the deal the administration brokered with the industry to freeze certain subprime mortgage rates for five years did not involve the use of any taxpayer money. Conservative critics have complained that the administration's plan represented government intrusion in the operation of markets that would end up rewarding some people who had taken out risky mortgages.

In his speech, Paulson raised the possibility that some sort of "systematic approach" may need to be developed to help homeowners with other types of adjustable-rate mortgages that are resetting to higher rates. The current plan only involves subprime mortgages, loans offered to borrowers with weak credit histories.

The steep slump in housing has been a serious drag on the overall economy. There are rising fears that the country could topple into a recession. Those worries were heightened after a report Friday showing that the unemployment rate jumped to a two-year high of 5 percent in December with job growth slowing to a crawl.

Paulson called the current housing correction inevitable after what occurred during the five-year boom in which sales and prices climbed to record levels.

"After years of unsustainable price appreciation and lax lending practices, a housing correction is inevitable and necessary," Paulson said.

He said that the correction was taking a toll on the economy that would continue for a period of months.

"It will take additional time for markets to regain confidence," Paulson said. "The overhang of unsold homes will contribute to a prolonged adjustment and poses by far the biggest downside risk."

Paulson and President Bush both delivered speeches Monday declaring the economy is fundamentally sound. Bush received an update Friday from Paulson, Federal Reserve Chairman Ben Bernanke and other market regulators about how markets have been performing following a severe credit squeeze that began in August that roiled financial markets around the world.

The administration is considering an economic stimulus package that might include tax cuts to ward off a recession. Bush is expected to unveil the package, if he decides to go ahead with it, around the time of the Jan. 28 State of the Union address.

Asked about a stimulus package, Paulson said Monday that Bush has not made any decisions yet but that the administration was very much focused on the issue.

"This is a decision the president still has to make. When he makes it, we will report to all of you," Paulson said during a question-and-answer session after his speech.

The credit crisis was sparked by raising defaults on subprime mortgages. Those defaults have already resulted in multibillion-dollar losses at many financial institutions who bought securities backed by the subprime mortgages that have gone bad.

Paulson said that those large write-downs showed the system was working.

"As markets reassess, we should not be surprised or disappointed to see financial institutions writing down assets and strengthening balance sheets," he said.

Paulson said the administration is continuing to work with the mortgage industry to ensure the quick implementation of the agreement to freeze subprime mortgages that are due to reset if the homeowner is living in the house, is current with payments before they reset but cannot make the higher payments.

He said that last Friday more than 20 mortgage institutions that are part of the HOPE NOW alliance met to work through outstanding issues involved in the mortgage plan. "We expect most servicers to begin fast-tracking borrowers in the next few weeks," he said.

Associated Press business writer Vinnee Tong in New York contributed to this report.

 

[DeathEatsaCracker]

The DOW closed down 19 points to 10,035 on 11/2/04. Ho hum.

Last week's market action had nothing to do with Iowa.

The Dow was down 240 points immediately following the Supreme Court declaring Bush the President.

Oh, snap.

 

[Dawoofdaddy]

While away for a couple weeks gold knocked out another new multi decade high, oil touched the century mark, major indexes falling, dollar falls further into toilet.

Meanwhile, bush is still telling people the economy is doing ok and two of my favorite companies/stocks to bash countrywide and ford motor made new multi year lows.

:drink:

 

[valium]

While away for a couple weeks gold knocked out another new multi decade high, oil touched the century mark, major indexes falling, dollar falls further into toilet.

Meanwhile, bush is still telling people the economy is doing ok and two of my favorite companies/stocks to bash countrywide and ford motor made new multi year lows.

:drink:

So in others words things have gone real well in the time you been gone. Just that much closer to that place in south america for ya.

 

[Dawoofdaddy]

Valium here is one sure bet for 2008.

Gold will be more than 1k per oz and thats a very conservative estimate.

Silver will be more than $20 per oz and again thats a very conservative estimate.

The precious metals/commodity bull market has a long way to go.

Eventually it will become a stampede as people scramble to exit pesos and get something tangible thats outside the control of the govt printing presses.

Looks like Goldman Sachs attempt to talk down the metals didnt work.

Ill also bet that thejdog will be living in south america before I get there, and hopefully you are on board this commodity bull market.

:missingte

 

[Dawoofdaddy]

<table id="post4969846" class="tborder" align="center" border="0" cellpadding="6" cellspacing="0" width="100%"><tbody><tr><td class="thead" style="border-style: solid none solid solid; border-color: rgb(253, 222, 130) -moz-use-text-color rgb(253, 222, 130) rgb(253, 222, 130); border-width: 1px 0px 1px 1px; font-weight: normal;">01-07-2008, 03:30 PM <!-- / status icon and date --> </td> <td class="thead" style="border-style: solid solid solid none; border-color: rgb(253, 222, 130) rgb(253, 222, 130) rgb(253, 222, 130) -moz-use-text-color; border-width: 1px 1px 1px 0px; font-weight: normal;" align="right"> #2371 </td> </tr> <tr valign="top"> <td class="alt2" style="border-style: none solid; border-color: -moz-use-text-color rgb(253, 222, 130); border-width: 0px 1px;" width="175"> tiznow <script type="text/javascript"> vbmenu_register("postmenu_4969846", true); </script>
RX Senior



Join Date: Mar 2006
Location: iowa
Posts: 4,137


</td> <td class="alt1" id="td_post_4969846" style="border-right: 1px solid rgb(253, 222, 130);"> <!-- icon and title -->

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Could somebody resize that? Id like to use it for an avatar.

 

[Dawoofdaddy]

Might take a couple good earning q's ( just to break even, LOL )but picked a another beaten downer.

NWA 14.13

Happy new year everyone

Fastest way to become a millionaire?

"Start with a billion and buy an airline".

Believe it was Buffet or some rich dude that said that.

Come on JP, you can do better than buying airline stocks.

Stop being a hometown boy and you cant stop that brick from falling.

 

[Dawoofdaddy]

RIMM comes in with VERY good numbers....UP big AH....Market was looking for news like this before Christmas and got it

Wasnt it nice of them to give all that great news and the stock fall 20% a week or two after the earnings release?

Govt going to have to chop down alot of trees to get this dud market off its arse.

 

[JoeContrarian]

<table id="post4969846" class="tborder" align="center" border="0" cellpadding="6" cellspacing="0" width="100%"><tbody><tr><td class="thead" style="border-style: solid none solid solid; border-color: rgb(253, 222, 130) -moz-use-text-color rgb(253, 222, 130) rgb(253, 222, 130); border-width: 1px 0px 1px 1px; font-weight: normal;">01-07-2008, 03:30 PM <!-- / status icon and date --> </td> <td class="thead" style="border-style: solid solid solid none; border-color: rgb(253, 222, 130) rgb(253, 222, 130) rgb(253, 222, 130) -moz-use-text-color; border-width: 1px 1px 1px 0px; font-weight: normal;" align="right"> #2371 </td> </tr> <tr valign="top"> <td class="alt2" style="border-style: none solid; border-color: -moz-use-text-color rgb(253, 222, 130); border-width: 0px 1px;" width="175"> tiznow <script type="text/javascript"> vbmenu_register("postmenu_4969846", true); </script>
RX Senior



Join Date: Mar 2006
Location: iowa
Posts: 4,137


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Could somebody resize that? Id like to use it for an avatar.

Here you go

 

[Dawoofdaddy]

If the DOW can drop 200 points a day then sometime in March the market will be back to zero a level not seen since before 1900.

That cant happen.

Im not allowed to have that much fun.

Its nice to be back around some of you bulls, for when Im away too long my bearishness becomes overwhelming.

 

[Hitman26]

Woofy!


Welcome back.

 

[Dawoofdaddy]

tiznow, kudos to you. You have been calling for a recession for some time. The consensus has been 50-50, can go either way---This weeks data swings the pendulum in your favour. You have taken quite a few shots in this thread, but you never resort to name calling, like others.

housing dramatically in the tubes, a credit squeeze, manufacturing slowing and todays possible dagger--stunning jobs report.

this one's for you.........

Its nice to see one of our resident rx ghosts show up here.

h26, I can never stay away for too long.

I have to be here the day gold hits 1k.

Still bitter I wasnt around for oil 100.

%^_

 

[Hitman26]

Woofy, I'm now a long term bull. Looks like we are indeed headed for a nasty recession (you were right and I was wrong).

 

[Dawoofdaddy]

The market will continue to tank as most investors liquidate their assets sensing another Democrat wave.

Bring on the socialists....gold will be 100k.

Thanks for resizing that avatar.

 

[Dawoofdaddy]

Woofy, I'm now a long term bull. Looks like we are indeed headed for a nasty recession (you were right and I was wrong).

The stock market can still nominally soar via inflation during a recession. Same holds true during economic prosperity.

Plenty of bull markets around such as certain commodities, but Im not optimistic at all about us economy. The real question is how much of the rest of world economy does it take down along for the ride.

 

[eek.]

While away for a couple weeks gold knocked out another new multi decade high, oil touched the century mark, major indexes falling, dollar falls further into toilet.

Meanwhile, bush is still telling people the economy is doing ok and two of my favorite companies/stocks to bash countrywide and ford motor made new multi year lows.

Its called having not enuf credit available Woofy.

Which will be situation normal under a gold standard system.

 

[hellah10]

gold up $16 today! i need this bitch to stay down till Saturday... ugh... figures

 

[Jointpleasure]

Welcome back Woof!

I was actually going to day trade it Woof but it got away from me. Oh well, glad I picked up a gold fund to more than offset that pick.

Hitman,
What's your take in the Wachovia's downgrade of ISRG?

Thanks

 

[Dawoofdaddy]

Its called having not enuf credit available Woofy.

Which will be situation normal under a gold standard system.

There has been too much credit and that has alot to do with why the real estate bubble and economy has so many capital dislocations.

No job, no income, no down payment? People can have as much a house as you wish for, since we need more credit, yessiree.

Eek, are you now advocating a gold standard? Im confused, but thanks for posting an avatar more fitting yourself.

:aktion033