Poolman's Account Talk

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Show-me said:
I agree to let them fail but I also believe the people have spoken and the majority are the labor folks side. The real problem is Congress, always has been. They opened Pandora's box by bailing out the lenders against public opinion, both foreign and domestic to the tune of $2 trillion plus and growing. What is a lousy $100 billion compared to over $2 trillion?

I see it as a terrible double standard and nothing more than a attempt to squeeze the little guy again.

It is a mess and if they deny funds to the auto industry they should cut off everyone. They say they are drawing a line in the sand, but keep moving the line. All these people in Washington are crooks and you mark my words they will close ranks to protect their golden nest eggs and make the taxpayers pay out the ass.
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I have to admit, I blame Paulson and not the Congress. No time to study, then when the bill fails, the market tanks at least partially due to Paulson saying that he needed this money or there goes the economy. Emergency spending should not be due to bad planning and foresight.

I still am not sure if this was true, or a self-fulfilling prophecy. Whatever it was, most of the time it takes MONTHS to do a budget bill, and those are smaller than the bailout! So now, further in the hole, and well...there's that off budget "emergency" spending coming up to pay for Iraq and Afganistan, which will have to be off budget again because raising taxes during a recession is a Hoover economic mistake, the troops in Iraq and their equiment can't be teleported out even if it were a good idea (it's not).
 
We have a Broken Economy that is being held up on stilt's. We cannot keep printing money out of thin air. Congress thinks we can and thinks it will work.

IMO, I see disaster on the way within the next 3 months. Wait until Obama See's the books.
shocked.gif
Will Obama really be able to do something or will his hands be tied. I mean really, We can't just keep printing money.
nono.gif


http://money.cnn.com/news/specials/storysupplement/bailout_scorecard/index.html

http://money.cnn.com/2008/12/13/markets/markets_weekahead/index.htm
 
We can print as much as the world will let us to the point we devalue our currency so much that they stop buying our note and start redeeming them. Once we went off of the gold and silver standard it eliminated the limit to which we can print.
 
Wait until Obama See's the books. Will Obama really be able to do something or will his hands be tied. I mean really, We can't just keep printing money.

Being from Illinois, surely Obama will be able to cook up some illegal way to make everything look ok.:D
 
Why are they stalling? To keep the shorts on edge? This reminds me of the CNBC Gasperino ABK leaks. Or maybe they are waiting for a crash on Thursday, where shorts pile in, then announce the deal Friday morning(OPEX) before the bell, killing all the shorts? Ben did this last year with his first surprise rate cut.

White House says auto loans deal not imminent

White House officials say no announcement expected on plans to aid troubling auto industry

Sunday December 14, 2008, 10:25 am EST

WASHINGTON (AP) -- Don't expect an announcement Sunday or Monday from the White House on a possible plan to prevent the collapse of the troubled auto industry. That's the latest word from White House officials.

The Bush administration is considering ways to provide emergency aid to General Motors Corp. and Chrysler LLC. Those two car companies have said they could run out of cash within weeks without government help.
Last week, Congress failed to approve $14 billion in loans to help the automakers. That's when Bush officials said they were considering several options, including using money from the $700 billion financial bailout fund to provide loans to the carmakers.
http://finance.yahoo.com/news/White-House-says-auto-loans-apf-13826411.html
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This is sort of a rant.

Unfortunately, too many expect our government to do it all. President elect Obama is inheriting the most difficult situation that any President has had to face since the Depression...assuming we can actually relate then to now. Our world has great technology (developed in the US and exported to the third world, along with American jobs through corporate greed, and supported by our own government), but how much industrial capability still exists in the US. And the financial crisis is just as frightening. And where did all those dollars and wealth go. Not to us, but you can bet the true ruling class cleaned up.

I'm not one who thinks that the majority of those who own and control this planet are nice people. How often do we see how out of touch those in power are with the common guy, or with any human being for that matter. That's the environment Mr Obama inherits. What we (i.e. main street) will inherit is a need to help those around us with less than we have. We are destined to be the safety net. Without us, well, that a dark thought. Don't expect help from those that already own it all. They allowed this mess to happen in the first place. He(we) have huge challenges (1) getting cash back into the system, (2) devising a strategy that creates a modernized industrial complex (3) reforming a corrupt and broken political and financial system. So, let's all suck it up and do our part to get this mess fixed. As the Saturday Night guy says on Weekend Update. Just FIX IT!!!

FS
 
coolhand said:
Another day of sideways trading and Ira's going to a neutral bias as overbought condition dissipates.:cool:
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It didn't surprise me for his neutral stance.
That is sort of where I am at.

"VERY COOL FOR GETTING THIS VIDEO"

I am very close to joining his site. Market's are very unpredictable right now.

I am expecting a Santa Clause Rally very soon.

I don't know exactly when.

I am interpreting Data every day. I am getting close to a quick move.

In and out with a MAX possible time in 8 trading day's

We Will See,

Poolman
 
Goldman Sach's report in the morning.

CPI out at 8:30 in the morning.

FOMC announcement at 2:00 p.m.

It's going to be fun tomorrow :nuts:
 
Hey Poolman,

I am looking at going 30%F, 10%C, 30%S and 30%I. I currently hold no F. Wondering what your thoughts are on that? May be better to buy more C now and a smaller portion of F since I have one IFT left and hold until after Jan 1st?

Love your thread.
:)
HGL
 
HappyGoLucky said:
Hey Poolman,

I am looking at going 30%F, 10%C, 30%S and 30%I. I currently hold no F. Wondering what your thoughts are on that? May be better to buy more C now and a smaller portion of F since I have one IFT left and hold until after Jan 1st?

Love your thread.
:)
HGL
Click to expand...

Hello HGL,

It really depends on your time Horizon. I think your allocations will be fine for the longer term outlook.

I personally am looking to Hit and Run. 1 to 5 day Horizon. I want to be back in G by Jan 2, 2009.

I do think we will test the lows in the next 3 months and that would be more of an intermediate term move.

I hope this helps. I'm a day to day Player. At least until I get a job. :sick:

:)
 
I think I will "follow" you into G after Jan 1st and monitor to see what will happen after inauguration/bailouts/etc. There is alot going on - too much for me to gather!! I have been on the longterm train - but am testing the waters with controlling my own destiny some. I am learning SO much on this board, it's great. Your's is one of my fave threads, so, I'll continue to monitor your moves!! Thanks for your input...'preciate it.
 
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