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alstry (35.02)

Is Alstry DEAD Wrong?

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August 19, 2009 – Comments (7)

MADRID (MarketWatch) -- Investor optimism over the global economy reached the highest level in nearly six years in August, as money continues to pour into equities, according to the Banc of America Securities-Merrill Lynch August survey of global money managers.

"Strong optimism in August represents a big turnaround from the apocalyptic bearishness of March," said Michael Hartnett, chief equities global strategist at Banc of America Securities-Merrill Lynch Research, in the report which surveyed 204 fund managers who manage a total of $554 billion.

A net 75% of survey respondents believe the world economy will firm up in the next 12 months, the highest reading since November 2003, while confidence about corporate health is at the highest since January 2004. A net 70% of panel respondents expect global corporate profits to rise in the coming year, up from 51% last month.

Meanwhile, average cash balances are at the lowest levels since July 2007, while equity allocations rose sharply between August and July -- from 7% to 34%.

Goofy Alstry and his 9.09 against the rest of the world drinking wine. 

You think its time for the nut job to change his perspective after he just did a blog on how we could all be broke?......it won't be too much longer now.

We basically live in an economy where private borrowing drove public spending.  Without private borrowing and public spending, we basically have no economy.  Now that the banks have ostensibly cut off private borrowing, the private economy is dying rapidly and revenues to the public side have evaporated.  Without public spending, tens of millions would be standing in food lines begging....with continued MASSIVE public spending without much in the way of relative tax receipts, our currency could be worthless in the not too distant future.....

Will anything happen by 9.09......we will have to see as it is simply a matter of time.

7 Comments – Post Your Own

#1) On August 19, 2009 at 9:30 AM, dragonLZ (99.58) wrote:

Alstry is not dead wrong, he's just crazy... :)

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#2) On August 19, 2009 at 9:46 AM, drgroup (69.48) wrote:

I bet ML closed the article with "Contact your local ML agent to find out how you to can be a player in this turnaround. Commissions reduced to only 18% for first time suckers, I mean investors"

Wasn't ML bought out by BOA to save them from bancruptcey? This would make it hard for me to believe anything they post as nothing more than a Madison Ave publicity stunt to drum up more business. 

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#3) On August 19, 2009 at 10:46 AM, Tacomatight (73.65) wrote:

yes. He is of course. He's either a fool with a thousand shorts or just somebody with no real investments who enjoys pissing people off.

Although i've ragged on him several times, I take more of a selfish view now. The longer there is Alstry and people who follow him then the longer the rally will go. I now hope he pushes his destruction date out to 09/09/10.

Those ol'  bears keeps doin' their darndest to stand on them their hind legs and growl sumthin' awful. But they only  can keep that huffin' and puffin' up for so long. Eventually those ol' bears just have to rest and go down into a four-point stance. Then them ol' bull just saunters round from behind and mounts 'em sumthin' fierce. I'm startin' to think them ol' bears be likin' it. Woooooooweeeee boy!

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#4) On August 19, 2009 at 10:46 AM, alstry (35.02) wrote:

ARE YOU READY TO BE TAXED 100% OF YOUR ASSETS?

Louisiana Citizens faces $95 million bill

Louisiana Citizens could raise 'assessment' to pay $95 million legal

BATON ROUGE, La. (AP) -- State Insurance Commissioner Jim Donelon has called a news conference to discuss a very large legal bill.

Louisiana's state-backed insurance company has until Monday to post a $95 million bond after losing a class-action lawsuit that said the company took too long to settle Hurricane Katrina claims. Louisiana Citizens Property Insurance Corp. is appealing, but still must post the bond.

The bill could force Citizens to impose a new fee, or "assessment," on all homeowners in the state. Money raised by the existing 5 percent assessment goes to pay off debt incurred in paying off Katrina claims.

http://finance.yahoo.com/news/Louisiana-Citizens-faces-95-apf-4293076109.html?x=0&sec=topStories&pos=3&asset=6ced4250000e708a239e3e9afdbc3f04&ccode=2

Alstry is a lawyer, he understands the concept of joint and several liablility....soon it will be shoved down your throats and into your savings and retirement accounts.

$95 million for one little ole lawsuit.....just wait until Uncle Sam comes knocking.........

If you don't demand change...change will impose its demands upon you.

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#5) On August 19, 2009 at 11:10 AM, StopLaughing (< 20) wrote:

Alstry is somewhat right in the longer run. His timing is wrong on Sept 9th.

If you look at CA as a model. Government can not act as the employer of last resort in the long run. You can get too much government which is unsustainable. 

In the long run it is the health of the private sector and the jobs that it creates that supports employment,  government and the taxes that support government.

Revenues have dropped 10-20% for most companies. However, they have been able to counter act the effect on earnings to some extent by cost cutting. If the drop in revenues is a permanment drop that creates problems for tax revenue at local, state and federal level. It creates a crisis in SS and Medicare quickly.  Many local and state governments rely on sales taxes. Almost all taxes directly or indirectly derive to some degree from employment. However, SS and Medicare are direct.

If Obama and the Dems add vast new forms of goverment entitlements at the same time government revenues are lurching into a crisis they create unsustainable levels of government. 

That is one of the main drivers behind the opposition to so called health care reform.  The older people understand that government has decreased revenues and can't even fund the government we already have.  Adding more will bankrupt the system.

Keysian economics can be made to work in the short run. In the longer run it will bankrupt the country, devalue the currency and create massive stagflation. 

Will it get as bad as Alstry contends? I suspect the Dems will get thrown out befor we go past the point of no return. 

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#6) On August 19, 2009 at 12:07 PM, yourfinanceplan (< 20) wrote:

there are fears of a double dip recession. The stock markets rally isn't jusentrely by fundamants. A tiny pullback from 9400 to 9250 is hardly sufficient. Irrational exhuberence is here again.

 good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions



 

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#7) On August 19, 2009 at 12:07 PM, yourfinanceplan (< 20) wrote:

there are fears of a double dip recession. The stock markets rally isn't jusentrely by fundamants. A tiny pullback from 9400 to 9250 is hardly sufficient. Irrational exhuberence is here again.

 good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions



 

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