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Latest Comments45 Comments
Don't Worry About the FDIC
Don't Worry About the FDIC
Dollar Bulls and Bears Struggle for Dominance
Dollar Bulls and Bears Struggle for Dominance
Market Nosedive Pushes Dollar Down
We are going on a financial water fast. We are excreting all the unpleasant tumors that have been residing in the financial nether regions.
Things are falling apart. Some say that everything is going to be alright once the housing market starts back up again. Hasn't everyone had the chance to own a house already? If they haven't failed in their bid for ownership, then their knuckles are bloody and their hope is fading with every head shot as they hold on to their homes. Hard to get a loan when creditors become less lenient. Jobs are also handy and they are disappearing like pine needles popping in a forest fire.
Are we expecting all the DINKs to get divorced and buy separate homes?
Even if you get a home loan and can afford the mortgage for a while, you still have to eat, fuel your car and have some fun. And that costs more every day too.
It is all very interesting to me. And I have lost some money myself, so I am not standing on high ground here. I just don't understand how home purchasing is going to prop the economy.
Or people could just slow down. Eat less. Use less energy. Be simple.
By the way Grace, you sizzle.
Morgan Stanley in the Crosshairs
We are going on a financial water fast. We are excreting all the unpleasant tumors that have been residing in the financial nether regions.
Things are falling apart. Some say that everything is going to be alright once the housing market starts back up again. Hasn't everyone had the chance to own a house already? If they haven't failed in their bid for ownership, then their knuckles are bloody and their hope is fading with every head shot as they hold on to their homes. Hard to get a loan when creditors become less lenient. Jobs are also handy and they are disappearing like pine needles popping in a forest fire.
Are we expecting all the DINKs to get divorced and buy separate homes?
Even if you get a home loan and can afford the mortgage for a while, you still have to eat, fuel your car and have some fun. And that costs more every day too.
It is all very interesting to me. And I have lost some money myself, so I am not standing on high ground here. I just don't understand how home purchasing is going to prop the economy.
Or people could just slow down. Eat less. Use less energy. Be simple.
Remember Those $200 Oil Predictions?
$300/Barrel Oil Is Coming - Barron's Interview
People are just going to get used to colder winters and hot summers.
The only way we got up to 20mil barrels a day was due to easy credit. More people were able to afford and drive cars more. Now more people will be walking, taking mass transit and riding bikes. There isn't going to be an apocalypse, it will just be basic economics. I can be a mindless driver myself. But I know I could drive 50% less than I do if I needed to. Having a fridge full of yummy food and heating and cooling my home are far more important than taking 20 trips a day to buy things I don't need because I am bored.
Look at what is happening right now... Oil is dropping like a brick and so is our economy. Normally oil becoming cheaper would be helpful. The reason it isn't helpful is because it is still too expensive to help our sickly economy gain any ground. If oil went down to $30/barrel tomorrow, it would raise the economy from the dead like a defibrillator. But it would slowly descend and end up at point that makes economical sense. There is logic to all of this.
Honestly, if oil stays above $100 for a year, it would bleed us drier than we are. It might, but I doubt it.
The world uses 87mil barrels a day, right? We use 20mil of that. Well, we have been using less. But the argument is that world will use more. Not exactly. The worlds interdependence on us is tightly woven. We will see relative drops in the rest of the world's use.
If the world could truly afford $100 oil, then OPEC would put the floor in, but in all likelihood they are not.
And yes I am short oil right now. At least until it hits $80.
Oil Drops - But OPEC Looms
So for OPEC to put a floor on the market is not feasible for us nor them in the long run... the short run alone is economically suffocating.... Companies need to watch their bottoms lines like hawks... Therefore people are starting to lose jobs in increasing rates... What does the average person do when they lose their job and they don't have any savings? This is happening to people I know...
A First Look Inside the Fannie / Freddie Bailout Plan
I will probably take a big hit tomorrow on my financial short position. But that is the price for playing this game.
Does anyone know why, despite the pre-trading hours starting at 8am EST, there are people that can put trades in earlier?
A First Look Inside the Fannie / Freddie Bailout Plan
A First Look Inside the Fannie / Freddie Bailout Plan
Fannie and Freddie: We All Support You!
Rescuing Frannie
Fannie and Freddie will both be diluted to basically Zero and forgotten. Someone has to lose at some point. If they are theoretically bankrupt, why would they be worth anything to anyone? They are basically stocks with negative equity. Maybe we could just default on all the debts that we have accrued throughout the years. Then we could tear our homes down to the studs and ship the materials back to the source of origin. Or we maybe someone could invent a magical machine that creates oil from air, so we could replenish the foreign oil fields we deleted using other people's money.
The World's Revenge