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I am #2. FYI - Ron Paul. Marc Faber $700 Billion Bailout Could Balloon to $5 Trillion A $700,000,000,000 Picture!!!

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September 29, 2008 – Comments (18) | RELATED TICKERS: GLD , SKF , DRYS

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.”

Marc Faber 

http://www.breitbart.tv/?p=182363

A $700,000,000,000 Picture!!!

FYI - Time Magazine?:

America's No. 1 Export: Debt

 

 

18 Comments – Post Your Own

#1) On September 29, 2008 at 5:30 PM, abitare (35.58) wrote:

FYI - abitarePERFECT, is now ranked #70 with 1200 points today.

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#2) On September 29, 2008 at 5:55 PM, StatsGeek (29.33) wrote:

Ares,

I share most of your views and think you are a sharp guy.  I just wish you wouldn't gloat and also that you would do less bashing of those with whom you disagree.  Just a suggestion for a valuable contributor to Caps.

 

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#3) On September 29, 2008 at 6:22 PM, kdakota630 (29.63) wrote:

Excellent Ron Paul clips, and I appreciated the Paul Newman clip as well.  Going to have to watch Cool Hand Luke again soon.

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#4) On September 29, 2008 at 6:30 PM, abitare (35.58) wrote:

StatsGeek

Thanks for the reply. Good comment. I will take it on. I bash to try and prevent people from speading bad ideas or shilling. But I am readily admit, I am not that smart.

Luck + time + following the right ideas = my CAPS position

I recognize the silliness of gloating over any sucess in CAPS. It is like celebrating the high score in Space Invaders. So what?

The first time I made the ALLSTARS, I wrote a post and was then taken down to 71% with my points cut in half. I though I would be (<20) forever. 

My real life portfolio has held, even with the short ban. But I would rather have prosperity, strong dollar and a bull market. What good is a high CAPS score, if the dollar falls and people you know loose their jobs? 

There is nothing to gloat about really. It is like being on the Titanic and bragging that you saw the ice berge first, but no one would listen. So what....  

I have also been taken to the "wood shed" several times. The day after I recommended SKF it went up 20% then fell 50%. Now I am at even with SKF position... 

I should state, I steal many or most ideas from the CAPS community and others regularly. I try and give credit to those, whos ideas I steal. I.E. Mish Shedlock, Peter Schiff.

dwot talked me out of Gold Corp long position

DemonDoug found SKF and brought out the idea of shorting the Mortgage Insurers etc....

I am surprized that I have climbed this high. My "gloating" has more to do with drawing attention to those, I follow, who have been right and trying to help the Fool, who have helped me.

Making fun of bad ideas and Newbies, well...can't I have a little fun? 

I will try and be more polite.... 

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#5) On September 29, 2008 at 6:35 PM, TDRH (99.49) wrote:

Congratulations.

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#6) On September 29, 2008 at 6:53 PM, abitare (35.58) wrote:

TDRH,

I think I would prefer to be (<20) then #2 on a panic out of the market. But I have followed Schiff, Faber, Dr Paul, Soros, Buffett and Jim Rogers and they have been Bearish and right. Not to mention those here at fool, whose ideas I share.

Like I said, it is like spotting the iceberg while on the Titanic. It does not bring me much joy....

I live in the US, I have family members, who will be impacted. I might be impacted as well. Who knows how serious this will be...

Like alstry, dwot etc.... I just hope some wisdom might help those that will listen.

If I have to post my resume here, maybe one of my 4 or 5 groupies will hire me? I can clean, paint, make some jokes, embed videos.... 

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#7) On September 29, 2008 at 6:54 PM, StatsGeek (29.33) wrote:

Awesome, Ares.  As I said, I really value your blogging.  And I follow the same truthtellers that you do.  People take you more seriously based on the quality of your arguments than anything else.

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#8) On September 29, 2008 at 7:21 PM, lquadland10 (< 20) wrote:

Ok Ares how are you? Being an x files buff let me ask you something. From a military point of view what do you think of a pirate ship sitting on the coast of African coast being held by U.S. navel ships disputing if the massive tons and ship to shore missles and arms were stolen or paid for? I wonder if that amount of weponds would be around 770 bill. to purchase? Also Bush must be desperate to get Mc Cane to win because there was a 1 min news brief that the NIEA said that Iran might be gearing up for nuk war with sattlelight photos on how something has been moved around. What preparing to get bombed? Yep I think that is what they are talking about. Where is all this money going? I DEMAND a parer trail account from one year ago until now about where all this money has gone before they get one more cent red from me. What do you think?

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#9) On September 29, 2008 at 7:54 PM, Tastylunch (29.34) wrote:

Nice work Ares, I wouldn't mind being sub 20 again either if it meant America could be spared all this mularkey.

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#10) On September 30, 2008 at 12:01 AM, alstry (36.01) wrote:

Keep up the great blog.....and congrats.

It's nice to see some people still thinking.

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#11) On September 30, 2008 at 12:02 AM, lquadland10 (< 20) wrote:

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#12) On September 30, 2008 at 12:19 AM, lquadland10 (< 20) wrote:

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#13) On September 30, 2008 at 1:54 AM, pjani06 (29.13) wrote:

Ares, congrats, and keep up the active work in the blogs!

Everyone, See the link below for the FULL list of representatives with first name, last name, and state represented, & indicates if they voted for the bailout or against the bailout with CLICKABLE LINKS for their contact information!!!

see this here :

Now its personal, full names & links to all the Representvs. who voted YES or NO to the BAILOUT

this is far from over! 

do something, pat them on the back or convert them or...vote them OUT!

enjoy.

 

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#14) On September 30, 2008 at 5:22 AM, TheParadox (94.81) wrote:

ares, i really enjoy your blog... i think your should start a website or something... i think more people should listen to you (and maybe give people some resources) so they can be an informed individual about whats right for everyone.

 

ron paul needs to run the FED if you ask me... he'd abolish it.

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#15) On September 30, 2008 at 3:33 PM, pjani06 (29.13) wrote:

i agree with paradox.

Ares, get a sleek website going, organized & all.  jus be careful not to throw up a million videos on a single page as that seems to crash my friends' computers. 

 

Check this out, the solution to the mess, posted today by Karl Denninger from fedupusa.org / market ticker;

Denninger's "How To Fix Our Banking System" sent to all in Congress today

 

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#16) On September 30, 2008 at 6:30 PM, abitare (35.58) wrote:

ALCON,

Thanks for the replies.

lquadland10,

The pirates are doing what pirates do. Most commercial ships are NOT US flagged, although the US has the biggest Navy and keeps the sea lanes relatively safe most commercial vessels avoid paying US licenses fees and taxes. So if the pirates take a vessel, non US flagged? no big deal to me.

pjani06,

WILCO.

TheParadox,

Thanks for the idea. I will consider it in the future.

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#17) On October 01, 2008 at 3:16 AM, pjani06 (29.13) wrote:

what is WILCO?  When googling I find some german band, are you a fan?

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#18) On October 23, 2008 at 12:13 AM, jgseattle (30.29) wrote:

will comply.  LOL

Hope you know LOL.  even more laughs

 

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