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United States economy doomed …
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freedom
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i suppose it all depends on your perspective ... if you go back to the START of the thread , you can see that i "CALLED " it long before anyone else ...
It's interesting to see the mix of econmic theories being discussed as major events unfold going all the way back from now till the start of the thread .... heck at one point we were talking about bear sterns and lehman brothers , not to mention freddie and fannie ....
you may not agree with my econmic views ,, but you must admit i've been ahead of the heard in my predictions of what's happening to our economy ..
we are just getting pounded right now , i mean pounded ... people are starting to have break downs , we are seeing mental illness and desperation spiral out of control ... it's a sary world out there now ... small bussiness are starting to cave in , consumer demand is down everywhere ....loans are drying up ... it is the end of the freaking economy as we know it ..
right now i'd love to share some really shocking econmic news with you , some great scary headline ... but i can't because the news media has gone SOFT ... horrible things are happening in the economy right now , but the media's switched over to HAPPY MODE! where we all close our eyes and pretend like we've reached the bottom and things are getting better!!! happy smiles!!
Gilding the Lily
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The problem, Freedom, as I have pointed out throughout this thread, is that many of your predictions have been unfounded.
The ones I can think of off the top of me head are when you predicted a "black monday" after the conservatorship of Fannie/Freddie. Rather, than the doom and gloom you predicted, the Dow went up about 2.5% that Monday.
Or remember when you predicted that oil would not fall below $110-120. Uhmm... oil got pretty darn low this winter.
In all your preparation, Freedom, you fail to prepare for the success of the US economy. Start paying back your credit card debt; stop being part of the problem and become part of the solution.
Gilding the Lily
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It fell WAY below $110... you said it wouldn't fall to $110-120 until a critical hit... wrong again, bud. Your low-batting average continues. Start repaying your credit card debt that you purposefully maxed out without the intention of paying it back. Start contributing to society instead of trying to destroy it.
southwind
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But isn't that the Socialist mantra ! "To leech and take from people who have "EARNED IT" and give to the people who have not !
Can't Lily.....need money for ciggies,booze and dope to deal with it.
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freedom
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actually this is what i said
1. OIL , oil as we all know is the backbone of the us economy , and it’s like someone’s just taken our backbone and snapped it over their knee like a twig .. I don’t believe that our country can survive with oil prices as high as they are today ,, maybe somewhere in the 110 to 120 range … but I don’t see the prices falling that low until we’ve sustained critical damage ..
there's no contraciction on what i wrote lilly .... oil fell to 110-120 after we had taken a critcal hit and then continued to fall further , i don't recall saying that oil WOULDN'T fall further than that ...
As for paying back my CC's , i DO have a moral responsiblity to do so ... but it's not the SMART thing to do ..
there IS no recovery coming , perhaps some minor bull runs in this long market spiral into nothingness , but there is NO HOPE for this economy ...
please lilly , give me the numbers that should cause me to think there's a recovery down the road ... because from what i've seen we are still taking hits everywhere ... CC charge off's are increasing , prime loans are starting to weaken .... it goes on and on and on ....
Gilding the Lily
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Freedom,
You can spin it any which way you want to spin it... but when someone uses it as justification to commit what is arguably fraud, and intends on becoming a burden on all taxpayers, then I am going to take exception to that person when he essentially argues that we should take his advice. By your own admission, people that intentionally do not pay back credit card debt are acting immorally. As for giving you numbers that should cause you to think there's a recovery down the road... just take a look at our great history. While there will be more pain (starting with the quarterly reports), there will be recovery. And you will have missed it. Take care, Freedom; but most importantly, take heed.
You can spin it any which way you want to spin it... but when someone uses it as justification to commit what is arguably fraud, and intends on becoming a burden on all taxpayers, then I am going to take exception to that person when he essentially argues that we should take his advice. By your own admission, people that intentionally do not pay back credit card debt are acting immorally. As for giving you numbers that should cause you to think there's a recovery down the road... just take a look at our great history. While there will be more pain (starting with the quarterly reports), there will be recovery. And you will have missed it. Take care, Freedom; but most importantly, take heed.
southwind
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And btw Freedom, when the economy levels out, let us know, after NOT paying your bills, how your credit score is doing ! :blink:
Maybe thats why you talk about taking others possessions by force, because you won't be able to buy them !
In my neck of the woods, thats known as a theif !
Maybe thats why you talk about taking others possessions by force, because you won't be able to buy them !
In my neck of the woods, thats known as a theif !
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freedom
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ah lilly , sweet innocent lilly ....
todays economy is nothing like the economy of the 1930's ....hope and good wishes will not change the facts and just because the economy has always bounced back doesn't mean it always will ... (some say the sun always rises , but if the sun goes super nova it won't rise anymore )
there was a very good article in yesterdays WSJ on the depression , if you get a chance ,see if you can get mondays copy and read it ..
Did i ever share my titantic example with any of you ?
let's say i travled back in time and i was on the titantic in the bar , and i knew that in one hour the ship would get hit by an ice berg and then sink ...
let's say that at that time they had paper checks , and my account had ZERO funds in it ... knowing that the ship was going to sink , would i really be all that wrong to write a check and buy everyone at the bar a round of drinks? i mean , really what does it matter ,the ship is going down anyways ..
on the subject of credit card defaults , you should know that i watch the issue very closely , charge off's are going to be a very strong indicator as to the TRUE state of the U.S economy ... as more and more people go " $%^# IT" when it comes time to pay their credit card bills we will get a feel for what's going on ... right now the major corporations expect a charge off rate of 10% , but i recently talked to someone who deals with the charge off situation and he told me that 10% is WAY to low , and he personally expects a rate of 25% ...i beleive him ..
Right now in india they are having a HUGE problem with the charge off rate , we're talking 50% here .....
So when i tell you that you should max out and then default on your credit cards , i'm not telling you that as someone who lacks knlowlege but rather as someone who posses it ... you can chose the honorable path , but if your lower class , all you are doing is depriving yourself of necessary funds etc ...
todays economy is nothing like the economy of the 1930's ....hope and good wishes will not change the facts and just because the economy has always bounced back doesn't mean it always will ... (some say the sun always rises , but if the sun goes super nova it won't rise anymore )
there was a very good article in yesterdays WSJ on the depression , if you get a chance ,see if you can get mondays copy and read it ..
Did i ever share my titantic example with any of you ?
let's say i travled back in time and i was on the titantic in the bar , and i knew that in one hour the ship would get hit by an ice berg and then sink ...
let's say that at that time they had paper checks , and my account had ZERO funds in it ... knowing that the ship was going to sink , would i really be all that wrong to write a check and buy everyone at the bar a round of drinks? i mean , really what does it matter ,the ship is going down anyways ..
on the subject of credit card defaults , you should know that i watch the issue very closely , charge off's are going to be a very strong indicator as to the TRUE state of the U.S economy ... as more and more people go " $%^# IT" when it comes time to pay their credit card bills we will get a feel for what's going on ... right now the major corporations expect a charge off rate of 10% , but i recently talked to someone who deals with the charge off situation and he told me that 10% is WAY to low , and he personally expects a rate of 25% ...i beleive him ..
Right now in india they are having a HUGE problem with the charge off rate , we're talking 50% here .....
So when i tell you that you should max out and then default on your credit cards , i'm not telling you that as someone who lacks knlowlege but rather as someone who posses it ... you can chose the honorable path , but if your lower class , all you are doing is depriving yourself of necessary funds etc ...
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freedom
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Dear doom journal ...
Are we about to see short selling outlawed ? ??
http://www.investmentnews.com/apps/pbcs.dl...2/REG/304129976
a link to an article that discusses the issue
One of the proposals being considered would reinstate the original rule, which was introduced in 1938. It required that a stock's last trade represent an increase in price before it could be sold short.
WOW!!!!!
The patient is FINE , nothing is wrong , he's going to be FINE ! NURSE , SHUT THE CURTIN , SHUT IT RIGHT NOW!!!!
but wait , if he's OK and he's going to be fine , why do you have to shut the curtain, can't i see him ? he's just right there on the gurney ?
BECAUSE! NOW STOP ASKING QUESTIONS AND WALK AWAY !!!
Dear doom journal i can't wait till monday morning , i wonder what this week will hold for the market? maybe i'll jet over to DC this week or next and give my two cents during the 90 day public comment period ...
talk about unreported news , this is so under the radar i just barely noticed it ... amazing ! exciting , thrilling!!!!!!!!!!!!!!!!!
Are we about to see short selling outlawed ? ??
http://www.investmentnews.com/apps/pbcs.dl...2/REG/304129976
a link to an article that discusses the issue
One of the proposals being considered would reinstate the original rule, which was introduced in 1938. It required that a stock's last trade represent an increase in price before it could be sold short.
WOW!!!!!
The patient is FINE , nothing is wrong , he's going to be FINE ! NURSE , SHUT THE CURTIN , SHUT IT RIGHT NOW!!!!
but wait , if he's OK and he's going to be fine , why do you have to shut the curtain, can't i see him ? he's just right there on the gurney ?
BECAUSE! NOW STOP ASKING QUESTIONS AND WALK AWAY !!!
Dear doom journal i can't wait till monday morning , i wonder what this week will hold for the market? maybe i'll jet over to DC this week or next and give my two cents during the 90 day public comment period ...
talk about unreported news , this is so under the radar i just barely noticed it ... amazing ! exciting , thrilling!!!!!!!!!!!!!!!!!
Gilding the Lily
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Uhm. In short: NO. This has been debated ever since the wound-down the rule in 2005, and it has been more sharply debated since October 2007. The article (and the debate) is simply over whether to reinstate the uptick rule... not outlawing short selling. And people have been hanging out in the Azores if they believe that it is underreported. A quick google search would point them to numerous mainstream media outlets that have covered the debate.
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