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FatalWishes
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First Time for everything
Dollar falls below parity vs Swiss franc
http://sg.news.yahoo.com/rtr...rex-swiss-franc-7318940.html
They should take the warning labels off of everything and let stupidity sort itself out.
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FatalWishes
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I dont know how much more bad news we can stand at this point before there is panic in the major markets. All markets across the globe have gone down and adjusted accordingly but we are walking a razor thin blade and we teeter to either side its going to be a long way down to the bottom. I can almost see a day where they will have to halt trading to stop the blood flow.
S&P seeing light at the end of the tunnel yesterday that we may be reaching a bottom? That was a miner with a flash light taking a dump before he started digging down deeper.
S&P was way too early on that call. Just wait until fall of this year. Its gonna be a hell of a ride.
They should take the warning labels off of everything and let stupidity sort itself out.
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FatalWishes
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Man I am just sitting here fuming. This is Robin Hood in the reverse.
Steal from the poor to keep the suits happy. Thank you FED!! Bernanke is a crook. Steal from the taxpayers to save your buddies.
Somebody from JP morgan bought 55k puts on Bear Sterns yesterday. They made millions off of that today. Fucking bastards, this was all a setup. Just a short while ago, The CEO of Bear Sterns stated they were good to go and had lots of liquidity. Now today they are about to go under. This was planned and timed with the market.
This is a crock of shit. I'd blame Bush but he's not smart enough to figure all this out.
Why should we have to bail out Bear Sterns??? Fuck em.....its their fault. Let em go under and take all those other rich assholes down with em. Sure it may hurt us but at least they will be hurting too. There is not much left to sponge from the middle class anymore.
This Novembers election is going to be Huge.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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U S A
Use
Societies'
Assets
They should take the warning labels off of everything and let stupidity sort itself out.
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MountainManMike
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good thing im lower class and have nothing more to be taken from me, lol...other than gas in my gas tank, lol. |
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FatalWishes
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Foreclosure on Las Vegas Casino to Begin
| Quote From Source: | The developer of the Cosmopolitan Resort Casino, a $3.9 billion condo-hotel complex on the Las Vegas Strip, has been notified by its primary lender that it will begin foreclosure proceedings.
The move by Deutsche Bank AG, the lender on a $760 million senior loan, comes after the developer, Ian Bruce Eichner, wasn't able to finalize a deal for new financing amid the credit crunch. Mr. Eichner in late February cut a tentative deal with two of his other lenders, Global Hyatt Corp. and New York hedge fund Marathon Asset Management, for a possible rescue of the twin-tower project. A default ...
| | Click source url to view entire story. |
Source Wall Street Journal
Source URL:
http://online.wsj.com/articl...8671.html?mod=googlenews_wsj
Two Projects in Default Dog Big Home Builders
http://online.wsj.com/articl...9.html?mod=hpp_us_whats_news
Looks like Las Vegas growth has come to an end. I know Toll Brothers builds really expensive homes. Average cost in my area is 500k-600k. I don't know too many people that can afford that.
They should take the warning labels off of everything and let stupidity sort itself out.
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MountainManMike
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yet the market keeps chugging along here in durango. its ridiculously frustrating. im never going to be able to afford a house here.
and now theres news that rent is going to go sky high this coming year. too much demand in the town now...we can thank the fact that were a sanctuary city for that. |
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FatalWishes
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JPMorgan acquires troubled Bear
| Quote From Source: | NEW YORK (CNNMoney.com) -- JPMorgan Chase & Co. said Sunday that it would acquire troubled Wall Street firm Bear Stearns amid deepening fears that Bear's demise could have sent shockwaves across the already shaky financial markets.
The deal values Bear Stearns at $236 million, or just $2 a share - shares had closed at $30 on Friday, down 47% that day.
JPMorgan is taking immediate responsibility for Bear's trading obligations and assuming "management oversight" of the firm's operations. The deal is subject to approval by shareholders but has already been approved by the Federal Reserve and other regulators, according to a statement released by JPMorgan.
| | Click source url to view entire story. |
Source CNN
Source URL:
http://money.cnn.com/2008/03...x.htm?postversion=2008031619
That CEO must have been lying his ass off. Lets see that stock opened Thursday morning at 57.00 then closed at 30.00 Friday.
Now to fuck the stock holders they just sold out at 2.00 a share on a Sunday so nobody can dump their shares and try to recover some of their money.
This stock/company has lost over 40 billion dollars in just 12 months.
2 dollars a share is what the stockholders have now...instead of 159.00 a share.
You are now broke. Tomorrow morning will be a sad day. I wonder how many mutual funds and 401ks and IRAs had this stock in their portfolios?
This will resonate world wide.
Like I said at the beginning..this will get worse.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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Market is going down tomorrow...the futures are way down...
http://www.bloomberg.com/markets/stocks/futures.html
Now that Bear Stearns has been exposed for lying and being in way bigger trouble nobody believes anything the other banks are saying.
I hope there is not a mass sell off tomorrow but its not looking good right now. Our banking system is in serious trouble tomorrow.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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DJIA INDEX 11,726.00 -258.00
S&P 500 1,259.10 -33.90
NASDAQ 100 1,684.50 -40.00
Not looking too good...
http://www.bloomberg.com/markets/stocks/futures.html
That emergency rate cut the Fed just did today won't do anything to calm the already jittery nerves. Tuesday is just going to make things worse I'm afraid when they cut rates again. I think that big sell off we have been waiting for is going to happen this week. I hope I'm wrong about all of this.
We may be in serious trouble. That means EVERYBODY. Not just those in the market.
If there is a run on the banks...all that paper we have been trading that we call money is worthless. It is based on faith and there is none left in the banks. No faith left in the Fed either. We don't have the gold to base our money on either. Its just paper..it really is worthless.
JPM/FED/Bear Stearns all knew last week what was gong to happen. Stock holders got totally screwed. Billions have been lost and when the market opens up tomorrow andybody holding BSC is going to have no money. 15000.00 just became 1000.00 over the weekend. Nobody is going to trust the fed or the banks. Nobody is going to want to hold their troubled bank stocks over the weekend anymore. Watch some of the bank stocks tomorrow.
This is about as serious as it gets. This coming week may make history. We are setting up for a true Black Monday in the market. God I hope I'm wrong and things work out for the best.
I hope for some miracle....but I wouldn't be holding any financial stocks at this point.
They should take the warning labels off of everything and let stupidity sort itself out.
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Indy
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The Fed should leave things alone. Let the economy take the hit and correct itself. Let it weed out the bad players and move on.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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FatalWishes
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They need to raise the rates. They must raise interest rates.....inflation is going to make this bad situation worse. Once the financial credit mess gets fixed we will have to deal with that. This mess is not anywhere near over. This year is going to be tough for everybody.
http://www.bloomberg.com/app...YcPKuDDE&refer=worldwide
All faith has been lost.
http://www.reuters.com/artic...sNews&rpc=23&sp=true
http://www.ft.com/cms/s/619b...-11dc-b6bc-0000779fd2ac.html
I hate to say I told you so...
But I told you so.
I cannot stress how serious this is.....People better pay attention to their banks. I mentioned over a month ago to move your retirement funds out of the market. Tomorrow will be too late to do it I'm afraid.
After market trading and pre-market trading is usually a lot more volatile so things may look way worse than they actually are. Cooler heads may prevail as the professional traders step in. Still a lot of bulls out there......
I think the bears are gong to short the shit out of the financial institutions though and that is a worry right now.
We'll have to wait and see how tomorrow unfolds. I do hope for the best. I want this market to correct itself and people to have confidence and start buying again.
They should take the warning labels off of everything and let stupidity sort itself out.
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FatalWishes
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Gold is now 1028 dollars an ounce, oil is now 111.13 a barrel. We will probably have 4.00 a gallon gas by this summer. Get used to it. The dollar is fucking worthless...Commodities are going apeshit right now.
http://www.bloomberg.com/markets/commodities/cfutures.html
They should take the warning labels off of everything and let stupidity sort itself out.
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DanG
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http://finance.yahoo.com/
ALL RED
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FatalWishes
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umm..that was from last Friday dude...
You will see those numbers lower tomorrow...look here for the futures.....then back to yahoo once trading opens.
http://www.bloomberg.com/markets/stocks/futures.html
They should take the warning labels off of everything and let stupidity sort itself out.
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DanG
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I meant the NIKKEI & HANG SENG are down.
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FatalWishes
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Right, they just took out their 52 week lows. FTSE, DAX, NIKKEI, HANG SENG (still higher..needs to drop to 18,770), DOW, NAS....its a global meltdown. All the major markets except the HANG SENG have already made new 52 week lows.
What scaress me is the firesell of Bear Stearns is going to hurt the other banks. I see a very bad day for financials. Any banks that were walking a thin edge may lose 50% of their value today and that is going to push them over the edge. As banks start to fail that will cascade or dominio until all this mess is fully exsposed. If one more big bank fails today...that will start and avalanche.....oh my today is going to be very interesting indeed.
Hrmm...we may find a bottom to this marktet sooner than I thought.
They should take the warning labels off of everything and let stupidity sort itself out.
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DanG
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"all time" low for dollar... "all time" high for oil...
and don't even ask about housing.
got cash ?
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FatalWishes
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Well every market has plunged except ours. Makes me wonder what the government is up to...
The "Plunge Protection Team" may be reality instead of myth....
http://www.washingtonpost.co...s/longterm/blackm/plunge.htm
http://www.telegraph.co.uk/m...oney/2006/10/30/ccview30.xml
And my Favorite..
http://www.atimes.com/atimes/Global_Economy/JC18Dj02.html
Basically they are printing money to buy stocks to keep the market from plunging......
This will not end well. Why dont other markets do this? Because of inflation.....the dollar won't be worth shit. We will need a truckload of dollars to buy a pair of shoes in the future.
They should take the warning labels off of everything and let stupidity sort itself out.
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DanG
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I know, dammit. I really wish the a$$holes in charge would knock it off.
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FatalWishes
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Well I cooled off a little. See the Fed is supposed to bail out commercial banks, not security/equity/brokerage firms....like Bear Stearns. Although Bear Stearns is a Bank, it is not a commercial bank. It is not FDIC insured. Which means if you worked for them, owned stocks, or had money tied up in them, you are screwed. I think they did have some good paper but most of it was bad stuff.
So the Fed went through JpMorgan....well the shareholders got fucked. Then again..maybe not?? If the shareholders all vote no..I wonder what happens? I'm not too sure this deal is done even though its been inked. And JPMorgan has 30billion worth of insurance through the fed to back them up. That is very unfair to the stock holders of Bear Stearns. Its like a hostile takeover. The Fed gave JP Morgan 30 billion, they could have bought BSC for more than 2 dollars a share. The damn building is worth 10 dollars a share at least. None of this makes any sense.
What worries me now is the fed has opened a back door to a list of banks and firms (TBTF too big to fail) list so they run to the fed and say "We are in trouble", the Fed uses taxpayer dollars to loan out billions, or turns on the printing presses, gives them a loan at an extremely low reduced rate and saves them.
Why does the Fed have to do this? Because other banks won't loan them money. And if the other banks won't loan them money because they don't trust them!! Makes you wonder why are the taxpayers having to do it? Because they are on the TBTF list? This cannot be good. I cannot believe the market is only down 150 pts. Nasdaq and S&P are getting hammered though.
Well lets just see how this week unfolds. I don't think anybody is buying this "Fed Saved The Day thing."
We need to find a bottom to this market and right now there is no trust out there. Everybody is nervous and is sitting on the sidelines with huge piles of cash afraid to jump in waiting for the hammer to fall so they can pull the rest of their money out.
They should take the warning labels off of everything and let stupidity sort itself out.
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Indy
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If there is some good news it would be that speculators are taking a serious beating today when it comes to oil. It is down almost 5% today. But don't worry. They will find a way to manipulate the press to get out some kind of supply shortage story to help get prices boosted back up.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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FatalWishes
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| Quoting Indy - posted on 3/17/2008 at 13:02 |
If there is some good news it would be that speculators are taking a serious beating today when it comes to oil. It is down almost 5% today. But don't worry. They will find a way to manipulate the press to get out some kind of supply shortage story to help get prices boosted back up.
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Gold retreated as well from 1033.00 an ounce. Think its sitting around 1012 right now. Oil fell over 4 dollars. Incredible day. Only thing that will make the gold and oil bubble pop is confidence in our banking system. It going to be a long week for everybody.
Just look at some of the banking/financial stocks...
MER
LEH (may be next)
NMX
CME
GS
FCSX
IBN
MS
LM
BSC (screwed)
WM (first commercial bank to fail on the TBTF list???)
They are all taking a beating today. If you knew which ones to trust...those are the ones to buy now because some of them will bounce back in the years ahead.
They should take the warning labels off of everything and let stupidity sort itself out.
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Indy
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Oil is down over $6 now.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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FatalWishes
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Tent cities springing up outside of L.A.
They should take the warning labels off of everything and let stupidity sort itself out.
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posted on 3/14/2008 at 12:16
