CountryBoys's Account Talk

Sort by newest Sort by date
I bet a lot of us feel exactly as you do CB

CountryBoy said:
"A Touch of Reality and the American Dream"

Why all the optimism by the press that the stock rebound is just around the corner?

I hope I don't sound too paranoid or cynical or whatever... BUT I believe the MEDIA (THE PRESS) is like a puppet on strings and those strings are controlled by very high powered individuals who need to spark "The right message" - and largely ignore the truth.

From where I’m sitting, the psyche of the American people has taken a major blow to its confidence. Unfortunately the worst is yet to come.

I know growing up as a kid, most of us, were taught that if you went to college and worked hard, then you’d be able to retire and enjoy your golden years. Well that dream has been shattered, and regardless of how we got here, we’ve arrived anyway.
I don't believe that CB and deep down I doubt you do either. Integrity stands above everything and working hard to fulfilll your goal in life and stretching your heart and giving your life to make a difference WILL ALWAYS BE THE BEST WAY TO MAKE LIFE WORTHWHILE.

With the GDP, being driven by the consumer at the rate of 60% to 70%, I fail to see why there is so much optimism. We, the consumer, have seen our retirement and other investments take a beat down and until the American people are able to repair the damage, the economy will continue to stagnate.
They made a big mistake with this housing BOOM and letting those with nothing get everything. But Fannie Mae as a Private Company and Government Company were doomed to fail and lots of mistakes were made. Bottomline is GREED/CORRUPTION but I see the HEDGE FUNDS as a dangerous virus designed to distroy currencies (economies) - so right now there are still too many loop holes for Gold Diggers to Grab.

Will the infrastructure stimulus package help. Probably a little, but I think it’ll take to long to get into the system. It will help ONLY in conjunction with other MAJOR MOVES and changes put in place at the same time.

We must do it ourselves and hopefully the Government will not be an impediment to that good old fashion American work ethic. That ethic is what sets us apart CB; it always has and it always will.

We are a great country, that’s why everyone wants to come here. Why are we great? Mostly because we are a FREE SOCIETY and with overwhelming abundance - compared to the rest of the world. Our standards are miles above the rest. Our country is one of the few places where you can still acknowledge the Grace, Love, and Mercy of Jesus Christ and openly demonstrate His Glory without the fear of being tortured and killed.

We are an optimistic people. This is the country, where a person’s dream and hard work, can turn him into a success. That’s why we are an optimistic people, but until we rebuild our financial future, reality’s ugly head will be facing us eye to eye. Hard Work is one side of the coin; the other side is living simply and being thrifty. Making due with little and being grateful for much; having a deep sense of pain for those less fortunate and having a generous attitude.

We will come through this, as we’ve come through other tough times. We’ll be a different country, but hopefully still a democracy.
CB - our DEMOCRACY will be stronger than it's ever been before. The greatest changes being made are to keep those high power players and the most central and fundamental pillars of our society from doing this again.

Hopefully, our Government is up to the challenge to rebuilding the psyche and confidence of the American people without destroying that dream that made America great.

CB
Click to expand...
CB, I do not worship Obama - BUT THIS IS THE WHOLE BASIS for me bringing him into office. This has been his most central theme and it's what the overwhelming BULK of us want.

The DREAM has largely been distroyed and erroded away - all of us want to bring that dream back and make it better than ever.

God bless you my friend -

Steady
 
Thanks for your support and I know we won't always agree on everything, but that is what makes this a great country, my friend.

CB
 
Steadygain said:
I bet a lot of us feel exactly as you do CB


CB, I do not worship Obama - BUT THIS IS THE WHOLE BASIS for me bringing him into office. This has been his most central theme and it's what the overwhelming BULK of us want.

The DREAM has largely been distroyed and erroded away - all of us want to bring that dream back and make it better than ever.

God bless you my friend -

Steady
Click to expand...
:)
I am with Steady as he goes!
 
CountryBoy said:
Thanks for your support and I know we won't always agree on everything, but that is what makes this a great country, my friend.

CB
Click to expand...

Shucks :embarrest:

Sometimes I just get awry - and say things mainly to cause trouble and kind of pick a fight - ruffle a few feathers - and just act stupid.

I can guarantee you we agree on way more than you realize. I am NOT SOCIALISTIC at all - would be right beside you firing the guns to block socialism from taking control; I also DESPISE goverment taking over and see BIG GOVERNMENT and NATIONALIZED BANKS and Taking control of Everything as BAD - not good. I believe ACCOUNTABILITY should be stressed at the Higher Levels even more than at the lower levels and we all know Accountability is something we are highly subject to. In all sincerity CB - where it's the TSP Board, Barclay's (or whoever) screwing us over My REAL sentiments are exactly where yours are. But please don't tell anyone this because I enjoy throwing out contrary views - mainly to see the depth and grounding others have.
 
Steadygain said:
Shucks :embarrest:

Sometimes I just get awry - and say things mainly to cause trouble and kind of pick a fight - ruffle a few feathers - and just act stupid.

I can guarantee you we agree on way more than you realize. I am NOT SOCIALISTIC at all - would be right beside you firing the guns to block socialism from taking control; I also DESPISE goverment taking over and see BIG GOVERNMENT and NATIONALIZED BANKS and Taking control of Everything as BAD - not good. I believe ACCOUNTABILITY should be stressed at the Higher Levels even more than at the lower levels and we all know Accountability is something we are highly subject to. In all sincerity CB - where it's the TSP Board, Barclay's (or whoever) screwing us over My REAL sentiments are exactly where yours are. But please don't tell anyone this because I enjoy throwing out contrary views - mainly to see the depth and grounding others have.
Click to expand...

Steady,

No feathers ruffled here bud. :D This will just be between us, your secret is safe with me. :laugh:

CB
 
Now that the Huxtables are in the White House - will our 70% illegitimate rate among the at risk reduced lunch bunch begin to change. That would be the most positive thing that can happen for this country. To me this is the primary etiology of many of our social problems. Don't intentionally have kids to get a welfare check - get an education and then a job.
 
CB my friend. As always you are well grounded and a steady when others are running around like decapitated chickens. We need you so when you think you are "rambling" we will consider it sage observations. Thanks for posting your thoughts. It appears several of us agree with you.
 
justbizness45 said:
CB my friend. As always you are well grounded and a steady when others are running around like decapitated chickens. We need you so when you think you are "rambling" we will consider it sage observations. Thanks for posting your thoughts. It appears several of us agree with you.
Click to expand...

Thanks JB45,

I appreciate your comments, especially since I'm off sick today, they did brighten my day. :D

CB
 
I posted this elsewhere, but I thought it might get lost in the Friday rush and I am interested in what ya'll think.


Is UK Banks Nationalization Inevitable?


"Voices in favor of nationalizing major UK banks to save them from a mauling in the markets strengthened Thursday, sending banks' share prices into a roller coaster of hope and dismay."


http://www.cnbc.com/id/28788581

Would this nationalization of barclays force the TSP boards or the Governments hand to switch to another financial institution to run our TSP or would this possiblility be the excuse the Gov't is looking for to change our TSP into Social Security 2.0? I can't see the US Gov't allow an UK nationalized bank to handle our retirement funds. Things are getting interesting.

CB, at home under the weather from a bug going around the office :(
 
CountryBoy said:
I posted this elsewhere, but I thought it might get lost in the Friday rush and I am interested in what ya'll think.


Is UK Banks Nationalization Inevitable?


"Voices in favor of nationalizing major UK banks to save them from a mauling in the markets strengthened Thursday, sending banks' share prices into a roller coaster of hope and dismay."


http://www.cnbc.com/id/28788581

Would this nationalization of barclays force the TSP boards or the Governments hand to switch to another financial institution to run our TSP or would this possiblility be the excuse the Gov't is looking for to change our TSP into Social Security 2.0? I can't see the US Gov't allow an UK nationalized bank to handle our retirement funds. Things are getting interesting.

CB, at home under the weather from a bug going around the office :(
Click to expand...
I CAN see the Gov't letting foreign banks run TSP. They've been consistantly proving that they make important decisions, based on how the rest of the world might judge them. They don't have the gonads to do the right thing and make sensible decisions for themselves. Political 'yes-men'.:mad:

http://www.cnbc.com/id/28807630
Barclays Shares Plunge in 9th Day of Losses
23 Jan 2009 | 10:36 AM ET
"Investors are steering clear of any bank viewed as being at risk of nationalization, as a full state takeover would probably leave shareholders with nothing, analysts and dealers said."

"We would argue that the recent share price collapses mean that the risk/returns are out of whack, and that the stocks have the potential for massive upside if they avoid the perils of full nationalization," said Bruno Paulson, analyst at Bernstein.

Paulson said current share prices imply Barclays only has a 16-25 percent chance of staying independent, RBS a 13-20 percent chance and Lloyds a 19-30 percent chance.

UK Banks Are Already Nationalized
http://www.cnbc.com/id/28791113
​
 
Very interesting article, from the WSJ, on another view on how this economic meltdown should be handle. It's written that even a broken down engineer can understand the economics.

" By ROBERT J. BARRO
Back in the 1980s, many commentators ridiculed as voodoo economics the extreme supply-side view that across-the-board cuts in income-tax rates might raise overall tax revenues. Now we have the extreme demand-side view that the so-called "multiplier" effect of government spending on economic output is greater than one -- Team Obama is reportedly using a number around 1.5."

http://online.wsj.com/article/SB123258618204604599.html

CB
 
budnipper1 said:
I CAN see the Gov't letting foreign banks run TSP. They've been consistantly proving that they make important decisions, based on how the rest of the world might judge them. They don't have the gonads to do the right thing and make sensible decisions for themselves. Political 'yes-men'.:mad:

​
Click to expand...


Yeah budnipper,

I'm afraid that you could be right. They'd throw us under the bus if they thought it would help the Brits and score points with the rest of the world. :(

CB​
 
CB,
Please don't let this ruin your weekend - and I don't think anyone knows for sure....

My own feeling is the US Banks will be 'nationalized' and I've simply resigned to that fact. I think a lot more than Mega Money injections into the banks will be required to turn this around. The Stimulus Package is good too... but I can't help but think a lot more is needed besides Spending - and that spending more money in itself is going to suffice.

One day at a time my friend...

Hope you're feeling better and have a good weekend
 
CountryBoy said:
Yeah budnipper, I'm afraid that you could be right. They'd throw us under the bus if they thought it would help the Brits and score points with the rest of the world.
CB
Click to expand...
Yep, and I don't see much difference between this plan than the UK's bank nationalization you mentioned earlier, either. Both have the "government" meddling into banking business. :notrust:

'Bad Bank' Regains Favor As Solution for Toxic Debt
Analysts say both Wall Street and Washington are largely resolved to creating a government-run entity to buy troubled assets from banks and other struggling financial institutions. It's just a matter of how and when—and some say, the sooner the better.

"Get on with the process of putting a value on these assets and lifting them off the banks' balance sheets," says Robert Glauber, who supervised the Treasury Department's role in the rescue of the savings and loan industry, which included a version of the bad bank concept, the Resolution Trust Corporation.

"No one wants to put money into these banks and see it become worth less,” he adds. “That has happened quarter after quarter."

Momentum for the so-called aggregate bad bank asset-purchase plan has built quickly since Fed Chairman Ben Benrnake mentioned the idea in a wide-ranging speech last week.

FDIC Chairwoman Sheila Bair referred on Wednesday to the financial-aid options Bernanke outlined, telling CNBC the aggregate bad bank option "might have an advantage in the sense that it actually moves the assets off the balance sheets, freeing up lending capacity."

"They're [bank stocks] destroying the national wealth and they are dragging down the stock market," says Thomas Cooley, dean of NYU's Stern School of Business. "If the the financial system isn't provided the tools for commerce, the value of all firms declines. It's been like massive organ failure."
http://www.cnbc.com/id/28794041
​
 
Steadygain said:
CB,
Please don't let this ruin your weekend - and I don't think anyone knows for sure....

My own feeling is the US Banks will be 'nationalized' and I've simply resigned to that fact. I think a lot more than Mega Money injections into the banks will be required to turn this around. The Stimulus Package is good too... but I can't help but think a lot more is needed besides Spending - and that spending more money in itself is going to suffice.

One day at a time my friend...

Hope you're feeling better and have a good weekend
Click to expand...

Thanks Steady,

A good nap and I feel better already. :D

As for the banks, I've already resigned myself to the fact that they are goners and will be nationalized, so they are no longer a capitalistic organization, but part of the socialization of America.

I believe the Automotive industry will be next, if management and the union don't get their act together. They'll only be a shell of themselves regardless, cause people won't be able to purchase very many new cars for the next 2 years and the American people will not put up with bailing them out that long, even if BHO wants to keep the union in place. The writing is on the wall. Lets hope it stops here though. The more the Feds get involved in business the harder it will be for us home gamers to compete, because we don't have the funds the Feds can through at companies, especially for those of us that purchase individual companies. Now I gotta think about the Feds buying into a company and wiping out the common stockand/or divvies, making your holdings pretty worthless. Just more studying required. :laugh:

You have a good one also.:D

CB
 
We have public education and see how well that system has worked over the years. Think about the problems with busing and always trying to achieve racial parity. I think BHO will stay away from owning banks prefering to encourage mergers.
 
budnipper1 said:
Yep, and I don't see much difference between this plan than the UK's bank nationalization you mentioned earlier, either. Both have the "government"
meddling into banking business. :notrust:

'Bad Bank' Regains Favor As Solution for Toxic Debt
Analysts say both Wall Street and Washington are largely resolved to creating a government-run entity to buy troubled assets from banks and other struggling financial institutions. It's just a matter of how and when—and some say, the sooner the better.

"Get on with the process of putting a value on these assets and lifting them off the banks' balance sheets," says Robert Glauber, who supervised the Treasury Department's role in the rescue of the savings and loan industry, which included a version of the bad bank concept, the Resolution Trust Corporation.

"No one wants to put money into these banks and see it become worth less,” he adds. “That has happened quarter after quarter."

Momentum for the so-called aggregate bad bank asset-purchase plan has built quickly since Fed Chairman Ben Benrnake mentioned the idea in a wide-ranging speech last week.

FDIC Chairwoman Sheila Bair referred on Wednesday to the financial-aid options Bernanke outlined, telling CNBC the aggregate bad bank option "might have an advantage in the sense that it actually moves the assets off the balance sheets, freeing up lending capacity."

"They're [bank stocks] destroying the national wealth and they are dragging down the stock market," says Thomas Cooley, dean of NYU's Stern School of Business. "If the the financial system isn't provided the tools for commerce, the value of all firms declines. It's been like massive organ failure."
http://www.cnbc.com/id/28794041
​
Click to expand...

Hey Budnipper,

We sure do have enough Gov't intervention in our banking system now, but this bad bank plan may be the answer. I haven't really researched it enough yet, but it seemed to work with the S&L crisis (if you can say having no more S&L's anymore is called working), but the feds were able to get the toxic paper out of the market and hold it long enough to actually make a profit, if you can believe what the Gov't says anymore. :rolleyes: But as I said to Steady, I belive our banks are dead meat and nationalizing them is only a matter of time. We do need to free up credit, but I still think the Feds and experts are overlooking the main problem and that is us, the public, needs to rebuild our own balance sheet and until that is done, no amount of easy credit or loans will matter. JMHO.

Have a good weeked Bud, :D

CB
 
You must log in or register to reply here.

Similar threads

GameOn
GameOn Account Talk
Replies
6
Views
13K
Bullitt
Bullitt
AircrewChief
AircrewChief's Account Talk
2
Replies
31
Views
3K
AircrewChief
AircrewChief
I
InsaneZane1's Account Talk
2 3
Replies
48
Views
7K
InsaneZane1
I
A
A2Z1112 Account Talk
2 3
Replies
52
Views
7K
A2Z1112
A
Aitrus
Aitrus' Account Talk
2 3
Replies
58
Views
4K
Boghie
Boghie
Back
Top