I am #2. FYI - Ron Paul. Marc Faber $700 Billion Bailout Could Balloon to $5 Trillion A $700,000,000,000 Picture!!!
Today, I am # 2. Second only to SPECBEAR. I even passed TrackJimCramer, who has 1914 active picks. I had wanted to pass that ____________, but I did not think it was possible because of the crazy amount of stock picks MF give that __________.
There is not much to add. Most Fools knew what was coming.
The government is mostrly powerless, the size of the problem is beyond their ability to correct, IMO. $700 billion will be a band aid to the $61 trillion derevative market that needs to shrink. Government intervention will excell the collpase of the fiat currency. The less "help" from the government the better, hopefully the market will correct the leverage without collapsing the dollar.
I am optimistic for the future, but I do not believe we have seen the bottom of the market, the dollar, or real estate. Also unemployment is coming, my guess is there will be a significant rise in unemployment.
I covered some shorts today that were not performing. ARO and long SKF (partially covered)
I think there is plenty of sell off left, but there might be a rally in the near term. The market still has plenty of leverage and there are still plenty of incredibly dumb companies that you can ride down. Many "dry bulk shippers" are silly leveraged stock shells and have plenty of room to fall.
I am not far from taking my money out of a bank and out of stocks. After The Man, Who Would Be King ordered the end of "shorting" certain stocks. Ron Paul: Bailout will DESTROY THE DOLLAR!
Ron Paul - BAILOUT FAILS!!!
R.I.P. Tribute to Paul Newman
Paul Newman showed an outstanding example of what good people can do.
FYI - Marc Faber was on an Asian Business channel and the video was not allowed to play in the US via youtube.com
"This video is not available in your country."
But I found the video on Breitbart here:
$700 Billion Bailout Could Balloon to $5 Trillion
“So now they try to solve the problem by having this credit bubble actually extended and I think the $700 billion will be like a drop in the bucket because the total credit market in the U.S. is something close to $60 trillion, then you have the CDS market – credit default swap – of around $62 trillion. Then you have the whole derivatives worldwide worth about a notional $1,300 trillion. So the $700 billion is really nothing and the Treasury is just giving out this figure when actually the end figure may be $5 trillion.”
A $700,000,000,000 Picture!!!
FYI - Time Magazine?:America's No. 1 Export: Debt