[cacruden]

Interesting note about Vancouver Olympics is that Vancouver is on the hook for a significant amount (re: billions) guaranteed as part of the Olympics. It does not mean that they will be out that amount of money - but it is one of the reasons why I did not want Toronto to win the Olympics - unknowns can end up screwing the city finances for decades.

 

[jade_lee]

There are bulls, bears and then there are pigs.....it's a pig market and the banks are leading the way.

Take a look around at all the fraud if you really can't figure out the definition of a pig market keithz. There have been other examples throughout other financial cycles.


Stay tune for more criminal greed to follow. Why do people want to deny what is clearly coming to the surface? All those financial wizards who in fact were ripping each other off where ordinary people receiving inflated profits never questioned the source of the wealth even when the losses elsewhere suggested the gains where not realistic or legal in terms of informing where sources of growth were on the balance sheets of fraudulent captains of industry . Balance sheets offered up to the slack regulators who now appear way out of their element in their oversight abilities! .....oink oink!

 

[cruzin4u]

Take a look around at all the fraud if you really can't figure out the definition of a pig market keithz. There have been other examples throughout other financial cycles.


Stay tune for more criminal greed to follow. Why do people want to deny what is clearly coming to the surface? All those financial wizards who in fact were ripping each other off where ordinary people receiving inflated profits never questioned the source of the wealth even when the losses elsewhere suggested the gains where not realistic or legal in terms of informing where sources of growth were on the balance sheets of fraudulent captains of industry . Balance sheets offered up to the slack regulators who now appear way out of their element in their oversight abilities! .....oink oink!

You are exactly right.

Here's yet another piggie to add to the list.

http://money.aol.com/news/articles/_a/bbdp/missing-money-manager/310142

- You had Madoff's $50 Billion Ponzi Scheme
- Marcus Schrenker's (pilot that faked his death) securities fraud investigation
- 2 other ponzi schemes (http://www.reuters.com/article/topNews/idUSTRE5075QQ20090109)
- Robert Rubin from CITI ponzi scheme (http://www.nypost.com/seven/12042008/business/ponzi_scheme_at_citi_142511.htm)

And I'm sure there are countless other's out there and many more that will come to light. There's no where to hide for these guys.

 

[W. K. Lis]

Here's your keys to your new car. It's one of those. Take your time finding it.


Carmakers around the world are cutting production as inventories build up to unprecedented levels. Storage areas and docksides are now packed with vast expanses of unsold cars as demand slumps.

From photo story, 1 of 13 pictures, at http://www.guardian.co.uk/business/gallery/2009/jan/16/unsold-cars?picture=341883529

 

[lordmandeep]

I went by Detroit in November and you saw parking lots full of unsold cars.

 

[urbanboom]

Here's your keys to your new car. It's one of those. Take your time finding it.


Carmakers around the world are cutting production as inventories build up to unprecedented levels. Storage areas and docksides are now packed with vast expanses of unsold cars as demand slumps.

From photo story, 1 of 13 pictures, at http://www.guardian.co.uk/business/gallery/2009/jan/16/unsold-cars?picture=341883529

Ah! I see Wal-Mart has released its new "pedestrian friendly" store model! Just perfect for Leslieville!

 

[jks]

Wait...where's the monorail to take me to Tomorrowland??

 

[cdr108]

My fear with the government throwing money around is that weak institutions will NOT FAIL. Recessions are bad for people, but are a necessary evil. They knock off weak uncompetitive companies and free up capital to invest in areas of strength. A recession every 7 years has some benefit. Problem is that this credit crisis could create a recession that is deeper and more destructive in nature. I hope we can avert the later - but not necessarily that confident.

I agree 110% ... it's the normal business cycle, which for some reason alot of people want to ignore.

Why reward incompetence and poor management by having the public coffers floating them ?

We've already dropped below my DOW 9,000 target for 2008 - kind of surprised by the rapid plunge. I think the DOW will have to hit 7,000 before things stabilize ... then it'll be pretty stagnant for awhile.

Closing in on DOW 7,000 fairly quickly !!!

I believe when we reach that point, there will be a bear bounce up to 8,000; then back down again to re-test the new low.

DOW 7,000 is another support and if it breaks that one, then 6,500; 6,000; 5,700.

Comments, insight and an exchange of ideas would be appreciated.

 

[urbanfan89]

All the big four US banks (Citi, BAC, Wells Fargo, JPMorganChase) are more or less insolvent, and the bond market may take fright if Uncle Sam guarantees all their debts.

Add the escalating troubles in Eastern Europe, and you get a rather nasty mix. Buckle up guys.

 

[ITcomputer]

Here's your keys to your new car. It's one of those. Take your time finding it.


Carmakers around the world are cutting production as inventories build up to unprecedented levels. Storage areas and docksides are now packed with vast expanses of unsold cars as demand slumps.

From photo story, 1 of 13 pictures, at http://www.guardian.co.uk/business/gallery/2009/jan/16/unsold-cars?picture=341883529

Did I park in A lot or B lot at itchy and scratchy land?

 

[ITcomputer]

Here's your keys to your new car. It's one of those. Take your time finding it.


Carmakers around the world are cutting production as inventories build up to unprecedented levels. Storage areas and docksides are now packed with vast expanses of unsold cars as demand slumps.

From photo story, 1 of 13 pictures, at http://www.guardian.co.uk/business/gallery/2009/jan/16/unsold-cars?picture=341883529

why oh why did I buy a silver car?

 

[cacruden]

Closing in on DOW 7,000 fairly quickly !!!

I believe when we reach that point, there will be a bear bounce up to 8,000; then back down again to re-test the new low.

DOW 7,000 is another support and if it breaks that one, then 6,500; 6,000; 5,700.

Comments, insight and an exchange of ideas would be appreciated.

If you are looking at it as a technical analyst, the DOW just took out it's previous lows, and S&P has taken out it's closing lows..... the intraday lows are a few points away. So if people are responding to it purely as a technical manner - I don't think there will be much support at 7,000. I was under the understanding that the DOW would be heading to 6,4xx, the S&P 500 has lots more room before it's next technical support (I believe - I am not a technical analyst). I sold out on the way up again, and I have been waiting for a point to re-enter the market again .... which has made last year a very good year for me (long only). This next time I will probably be in for the long term again. I am mainly just buying XSP (S&P hedged to the Canadian Dollar).

It should be interesting when the DOW re-evaluates the companies in the DOW 30 - and kicks out GM and some banks - and brings in Visa and potentially another company..... that might create a bounce

 

[cacruden]

I have kept on revising what I think will be the bottom in the exchange, first it was 8,000, then 7,000 maybe, now I believe we are actually headed lower. I will still be a buyer again (probably) soon.

I also think that by one definition of a depression - we will seal that in the first half of this year...... the one definition is a 10%+ contraction in GDP (multi-year drop). It is almost like we were a 747, with 4 engines, we had 4 engines running at full throttle, we lost one to birds, then all of a sudden we lost all 4 engines..... we are now in a steep dive, and the earliest we can restart the engines is when we drop below 10,000 feet (we were cruising at 33,000 feet). Of course there is always a chance we could just crash right into the ground -- but if that is the case - what will money be worth then

I was talking to my taylor here in Bangkok, and he said it was far far far far worse than the 1997 asian crisis for companies like his (although he was hurt probably more by the airport closure). When it was the Asian crisis, tourism continued, sales continued - business was still good. This is global, and he has lost three of his neighbours who did not own their own property (rent on that street for shops like his - which is not large - is around $9,300 CAD per month). Even owning his property outright, he lost money during the last 3 months last year. People that were renting, hung on for 3 months then had to throw in the towel. I have no hope on recovery this year, but I am still hopeful on 2010 - that we will start a long slow recovery.

He was visits China regularly (serveral cities in the south I think), the first time - 15,000 factories had shut - the second time it was up to 75,000. That being said - I believe this is the beginning of a realignment which will see China/Asia coming out in more of an economic leadership position, just like things sort of shifted from UK to United States last time. It is not to say that the United States won't recover, I believe it will - but we will return to having 2+ engines of world economic growth afterwards - which is actually more healthy for the world economy.

 

[Roy G Biv]

All the big four US banks (Citi, BAC, Wells Fargo, JPMorganChase) are more or less insolvent,

It will be great when the US government finally realizes this, and stops throwing cash at them.

Hell, AIG is back for a 3rd bailout.

Nationalize, and sell off what you can, or else the US will become 90's Japan.

 

[cacruden]

It will be great when the US government finally realizes this, and stops throwing cash at them.

Hell, AIG is back for a 3rd bailout.

Nationalize, and sell off what you can, or else the US will become 90's Japan.

I would agree with Bank of America and Citibank, JP Morgan is a fairly conservative bank - and is not insolvent. Wells Fargo, I am not sure about - but I believe they are suppose to be fairly stable. (relatively). Citibank and Bank of America should be washed through Chapter 11, and new banks created.