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quote:

Originally posted by stefanoc i was just going to mention the risk of etrade but just realized theyre FDIC insured (i guess every public company is FDIC insured). does anyone know how FDIC really works? do they really give your money back right away or do they first try to liquidate a company and then try to pay off liabilities in that way?

The FEDs will return your money back up to $100,000 for an individual.

The market is sure taking another big dump today. We need more helicopters!

quote:

Originally posted by djGT The FEDs will return your money back up to $100,000 for an individual. The market is sure taking another big dump today. We need more helicopters!

and whats funny is the emergency 75bps cut the dip shits at the fed did yesterday morning that brought the dow back up from a 464 point drop, only held it for one day!

as of this post the dow is at 11,791, almost as low as when it the market opened yesterday morning causing the emergency cut, pffffffft.

Jim Cramer on Mad Money calls for investigation of the Fed

http://www.pbs.org/moyers/journal/01182008/watch.html




Lets not make the same mistakes our parents did.

quote:

Originally posted by ninetyninej and whats funny is the emergency 75bps cut the dip shits at the fed did yesterday morning that brought the dow back up from a 464 point drop, only held it for one day! as of this post the dow is at 11,791, almost as low as when it the market opened yesterday morning causing the emergency cut, pffffffft.

Wall street is expecting another 3/4 point rate cut next week. Just make it 0% already then everyone can be rich. Oh look, those helicopters just arrived, DOW is almost back to previous close.

ugh wall street is so fickle... fuck their speculation. they speculate on weather forecasts and create their own fluctuations based on it. the fed needs to get off its knees, reread its charter and stick to controlling inflation above all else. if they can't accomplish that, they are basically useless. let the free market sort out economic issues. we are still a free market capitalist economy are we not? sometimes i really wonder. if i see another rate cut next week i'm gonna vomit into my wallet.

Rich, didn't you know that the fed isnt audited, and its a private bank? And prints money from thin air to create the "economy" you see. No gold backs it anymore (for a long time), and these recessions seem to only happen when people are profiting from war... and the rich get richer and the poor get poorer...

Its about as Federal as FedEX.

This recession is used to weaken the people during the war into thinking that the government is their saviors.

And to not listen to Ron Pauls message of freedom and liberty. He wants to dismantle the IRS, and the Fed, and save our "Constitution"!

quote:

Originally posted by toolman667 Rich, didn't you know that the fed isnt audited, and its a private bank? And prints money from thin air to create the "economy" you see. No gold backs it anymore (for a long time), and these recessions seem to only happen when people are profiting from war... and the rich get richer and the poor get poorer... Its about as Federal as FedEX. This recession is used to weaken the people during the war into thinking that the government is their saviors. And to not listen to Ron Pauls message of freedom and liberty. He wants to dismantle the IRS, and the Fed, and save our "Constitution"!

yeah i know all this, but i'm accustomed to a responsible chairman of the fed one who expresses concern over the rate of inflation and works to keep the dollar strong against foreign currencies. you can really see through the hypocracy of bush when he talks about his distaste for taxes when in fact printing money is essentially a flat tax and all we've been doing since his rule is printing more and more money to pay for his astronomical spending. i like how the government has to pay interest on it's own legal tender too, genius . the back story to the creation of the federal reserve act is pretty makavelian as well. this country was basically sold to a handful of powerful bankers.

a good quote to always keep in mind...

" The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists. "

Going bankrupt: The US's greatest threat

2008-01-24 � atimes.com

'The military adventurers of the George W Bush administration have much in common with the corporate leaders of the defunct energy company Enron. Both groups of men thought that they were the "smartest guys in the room",'


http://www.atimes.com/atimes/Middle_East/JA24Ak04.html

quote:

Originally posted by R!CH the back story to the creation of the federal reserve act is pretty makavelian as well. this country was basically sold to a handful of powerful bankers.

yeap.

the fed reserve is the biggest most unconstitutional misleading act of the last 100 years imho.

they tried amending the constitution in late 1800s for a central bank and i forget which president knocked it down and called those promoting it 'a den a vipers' who let greed and power take over their good judgment and what was right for the country.

then in 1913 after a handful of power players secretly met and coerced congress to pass the 'federal reserve act' ... and i believe even JFK tried abolishing it during his presidency if im not mistaken:

http://en.wikipedia.org/wiki/Federal_Reserve_System

The chief of the bipartisan National Monetary Commission was financial expert and Senate Republican leader Nelson Aldrich. Aldrich set up two commissions � one to study the American monetary system in depth and the other, headed by Aldrich himself, to study the European central-banking systems and report on them.[5] Aldrich went to Europe opposed to centralized banking, but after viewing Germany's banking system came away believing that a centralized bank was better than the government-issued bond system that he had previously supported. Centralized banking was met with much opposition from politicians, who were suspicious of a central bank and who charged that Aldrich was biased due to his close ties to wealthy bankers such as J.P. Morgan and his daughter's marriage to John D. Rockefeller, Jr. In 1910, Aldrich and executives representing the banks of J.P. Morgan, Rockefeller, and Kuhn, Loeb, & Co., secluded themselves for 10 days at Jekyll Island, Georgia.[5] The executives included Frank A. Vanderlip, president of the National City Bank of New York, associated with the Rockefellers; Henry Davison, senior partner of J.P. Morgan Company; Charles D. Norton, president of the First National Bank of New York; and Col. Edward House, who would later become President Woodrow Wilson's closest adviser and founder of the Council on Foreign Relations.[6] There, Paul Warburg of Kuhn, Loeb, & Co. directed the proceedings and wrote the primary features of what would be called the Aldrich Plan. Warburg would later write that "The matter of a uniform discount rate (interest rate) was discussed and settled at Jekyll Island." Vanderlip wrote in his 1935 autobiography From Farmboy to Financier :

I was as secretive, indeed I was as furtive as any conspirator. Discovery, we knew, simply must not happen, or else all our time and effort would have been wasted. If it were to be exposed that our particular group had got together and written a banking bill, that bill would have no chance whatever of passage by Congress�I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System.�

Despite meeting in secret, from both the public and the government, the importance of the Jekyll Island meeting was revealed three years after the Federal Reserve Act was passed; when journalist Bertie Charles Forbes wrote an article about the "hunting trip" in 1916.



You guys have to read this book ... it will open your eyes to the corruption and the truth behind the fed reserve:

http://www.amazon.com/Creature-Jeky...01221686&sr=8-2

The Creature from Jekyll Island : A Second Look at the Federal Reserve (Paperback)
by G. Edward Griffin (Author)

Editorial Reviews
Publisher/Editor, Dan Smoot Report
"A superb analysis deserving serious attention by all Americans. Be prepared for one heck of a journey through time and mind."

Ron Paul

Publisher/Editor, Ron Paul Report

Member, House Banking Committee

"What every American needs to know about central bank power. A gripping adventure into the secret world of the international banking cartel."

Mark Thornton

Asst. Professor of Economics, Auburn Univ.

Coordinator Academic Affairs,

Ludwig von Mises Institute

"A magnificent accomplishment - a train load of heavy history, organized so well and written in such a relaxed and easy style that it captivated me. I hated to put it down."

Dan Smoot

Publisher/Editor, Dan Smoot Report



the 'central bank system' is a ponzi scheme at best and what rich posted above is dead on.

did everyone forget that a key requirement for a recession is several consecutive months of job loss???

Q4 2007++ payroll growth

let me keep posting a bunch of articles that a bunch of ******s are writing to try and scare people to make stupid financial moves to cause the dumb recession

I can't wait for May 2008.

"Paper's PULEEZE"

Its only a recession for the poor saps in the real estate biz..

i'm sorry it's not my fucking fault you bought a shitty house with shitty credit and an interest only ARM you can't afford.

thanks, maybe I can afford to buy a house in 10 years.

*you* is not directed to anyone personally. just a general consensus.

quote:

Originally posted by |Thrax| Its only a recession for the poor saps in the real estate biz.. i'm sorry it's not my fucking fault you bought a shitty house with shitty credit and an interest only ARM you can't afford. thanks, maybe I can afford to buy a house in 10 years. *you* is not directed to anyone personally. just a general consensus.

laff.

you contradicted yourself. a recession means the entire economy, which includes even you!

but you are right in that the 'saps' in the real estate not only played one of the biggest roles in causing it but will also be hurt the most by it. as well as those who bought homes who they couldn't afford will have to deal with the consequences of their choices.

but make no mistake a recession affects just about everyone


on a lighter note, housing will actually be affordable for us Californians once this is done!

quote:

Originally posted by ninetyninej on a lighter note, housing will actually be affordable for us Californians once this is done!

affordable = having 5 roommates or making at least $150k/year

quote:

Originally posted by MikeLord did everyone forget that a key requirement for a recession is several consecutive months of job loss??? Q4 2007++ payroll growth let me keep posting a bunch of articles that a bunch of ******s are writing to try and scare people to make stupid financial moves to cause the dumb recession

lol

either i'm misinterpreting your post or you are the dipshit that didn't get informed that unemployment jumped up to 5.0% recently

as far as articles, i'm sure everyone at bloomberg would love your financial and economic insight.

get informed there guy...and btw its already been said a couple times in this thread that a recession, although anyone smart enough can see we've entered in one, can't be 'officially declared' until 2 quarters into it.



http://www.wealth.bloomberg.com/markets/index.html

U.S. Unemployment 01/04 5.0%
http://www.bloomberg.com/apps/news?...id=a7jgWmHo3ol8

Unemployment May Rise, Factories Slow: U.S. Economy Preview

By Bob Willis

Dec. 30 (Bloomberg) -- Employers in the U.S. hired fewer workers in December and the unemployment rate rose, signaling one of the few remaining bright spots in the economy dimmed heading into 2008, economists said before reports this week.

quote:

Originally posted by ninetyninej on a lighter note, housing will actually be affordable for us Californians once this is done!

This fact, and Ron Paul are the only things keeping me going right now.

out of curiosity, is anyone getting ass raped w/ taxes this year?

This question could be irrelevant to the topic but I would like to see if there is some type of connection.

quote:

Originally posted by ninetyninej lol either i'm misinterpreting your post or you are the dipshit that didn't get informed that unemployment jumped up to 5.0% recently as far as articles, i'm sure everyone at bloomberg would love your financial and economic insight. get informed there guy...and btw its already been said a couple times in this thread that a recession, although anyone smart enough can see we've entered in one, can't be 'officially declared' until 2 quarters into it. http://www.wealth.bloomberg.com/markets/index.html U.S. Unemployment 01/04 5.0% http://www.bloomberg.com/apps/news?...id=a7jgWmHo3ol8 Unemployment May Rise, Factories Slow: U.S. Economy Preview By Bob Willis Dec. 30 (Bloomberg) -- Employers in the U.S. hired fewer workers in December and the unemployment rate rose, signaling one of the few remaining bright spots in the economy dimmed heading into 2008, economists said before reports this week.

woah.. damn i got stumped. PAYROLL GROWTH INCREASED LAST QUARTER. the unemployment rate is not part of the recession formula. overall payroll growth is what it is factored into a recession. even if unemployment is increases, payroll growth would have to go with that as well for consecutive quarters.

slower growth <> recession

i'll be sure to read in depth next time. let me find a bunch of articles to show how smart i am...

i knew it was coming

november december was the time to sell sell sell stocks and go short.

Id wait till later this year or early next year before taking any big positions on the long side. Buy the beat up companies that have future proof business models in the markets that will grow outside of America. India,China,Middle East and some European markets (If the Euro stays strong) will be hot as will the companies that do business there.

I called GOOG short at $725

Out of curiosity, what do you guys do for a living???

I'm a janitor

One of the best things you can do in this market is to buy stocks that have been beat down to shreds, but also have a good balance sheet and/or a good amount of cash on hand.... small caps are ace for this market.

Avoid bloated stocks with high PEG ratios...

quote:

Originally posted by |Thrax| Its only a recession for the poor saps in the real estate biz.. i'm sorry it's not my fucking fault you bought a shitty house with shitty credit and an interest only ARM you can't afford. thanks, maybe I can afford to buy a house in 10 years. *you* is not directed to anyone personally. just a general consensus.

its not the people who got an interest only arm. its the people who got an OPTION ARM. why? cause you have 4 ways to pay, one being the negative amortization payment. this payment is LOWER than the interest only. at the end of the fixed period the difference between the negam payment and the interest payment is put on the end of the loan. this creates a larger loan than originally secured and moves the mortgage payment up in the end by a large amount. there are also caps on the max the interest rate can adjust from year to year. normally its about 1/2 a point but can be as mucha as 1. i may be mistaken though as i havent been in the mortgage business for over a year.

A recession is when your neighbor loses his job. A depression is when you lose your job. I read that somewhere but it seems to make sense. According to the Economic Cycle Research Institute:

quote:

A recession is a period of falling economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

quote:

Originally posted by 72hrpartyanimal out of curiosity, is anyone getting ass raped w/ taxes this year? This question could be irrelevant to the topic but I would like to see if there is some type of connection.

Bush and House reach deal on stimulus package

quote:

The deal will provide cheques of between $300 and $1,200 to some 117m Americans, with payments phasing out for individuals earning more than $75,000 a year and couples earning more than $150,000 a year.

Looks like I might be getting some new gear! Of course, this money is probably coming from you people making more than $75K so thanks in advance.

quote:

Originally posted by MikeLord woah.. damn i got stumped. PAYROLL GROWTH INCREASED LAST QUARTER. the unemployment rate is not part of the recession formula. overall payroll growth is what it is factored into a recession. even if unemployment is increases, payroll growth would have to go with that as well for consecutive quarters. slower growth <> recession i'll be sure to read in depth next time. let me find a bunch of articles to show how smart i am...

laff

well everyone we can all go back to business as usual. mikelord's payroll factoid, although ignoring two dozen other employment and economic factors, has conclusively erased all evidence of being in or heading towards a recession!

i for one am relieved. phew, that was a close one mike. thanks buddy!


hey mikey, you should consider applying for an internship in the white house. you have a talent for ignoring all the facts and thinking one dimensional, also known as 'the Bush administration economic policy'

quote:

Originally posted by ninetyninej laff well everyone we can all go back to business as usual. mikelord's payroll factoid, although ignoring two dozen other employment and economic factors, has conclusively erased all evidence of being in or heading towards a recession! i for one am relieved. phew, that was a close one mike. thanks buddy! hey mikey, you should consider applying for an internship in the white house. you have a talent for ignoring all the facts and thinking one dimensional, also known as 'the Bush administration economic policy'

I'll also be sure to only use what i read from "public" websites that is government controlled as my only sources. not saying that its not possible we might be in one but we are a good ways away from even coming close to one (recession). You must be one of those conspiracy theory guys...

maybe if you took the time to analyze the data for yourself and not just read articles that make you think you are smart you might find some interesting information. but then again... you are probably one of those typical stupid media junkie that believes everything written.

why don't you show us how smart you are and show us your own data and research. you will probably have a different opinion then this stupid stock market scare BS that is going on right now.

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