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alstry (35.87)

Is the Stock Market ONE BIG FRAUD?????????

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February 01, 2010 – Comments (5)

As America shuts down and its people driven into unemployment and ever lower wages with millions now in poverty......we see more and more commentary like the following:

Even as ever more Congressmen express concern about the implications of the ongoing CRE "bubble" (yes, this is a quote), S&P comes out with a report noting that should the banking system be forced to take all appropriate CRE-associated writedowns, it likely would not survive. And all this is occurring as REITs probe new 52 week highs. Welcome to the new economy.

http://www.zerohedge.com/article/kanjorski-admits-there-growing-bubble-commercial-real-estate-sp-observes-cre-losses-could-wi

Hmmmmm......  "appropriate" writedowns would destroy the banking system????  Does that mean the whole system is insolvent?????

Remember when Fools thought the financial statements actually reflected an honest assessment of the company........???  The good ole days.......

I met with the President of a local bank today............it was a very interesting conversation to say the least.......let me tell you, unless we take a dramatic change in direction in our country to counter the effects of Zombulation.....few Fools really have any clue about how things are about to change.

Keep watching the ticker.....that is exactly what was happening right before the dot.com crash, Enron, and the crash in 2008.........interesting times indeed as we prepare for the Alstrynomic age.

5 Comments – Post Your Own

#1) On February 01, 2010 at 6:02 PM, alstry (35.87) wrote:

WHAT HAPPENED TO THE RECOVERY???????????????

New York City’s plans to close up to 20 fire companies will require the Fire Department to undertake its most radical reorganization since the financial crisis of the 1970s, according to senior department officials.

As a result, the department is analyzing statistics, block by block and neighborhood by neighborhood, to determine how it can most safely take engines and ladder trucks out of service.

“If we have to close 20 companies, which is a 6 percent reduction in the number of companies we have, it is going to tax us,” said Salvatore J. Cassano, the newly appointed commissioner of the Fire Department of New York. “It is certainly the most challenging thing we have faced in decades.”

http://www.nytimes.com/2010/02/02/nyregion/02fdny.html?hp

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#2) On February 01, 2010 at 6:06 PM, danteps (29.42) wrote:

No, but Alstry is a fraud. 

Hey it took you 3 minutes to respond to your own blog post.  Your are getting slow. 

You do realize you need to keep responding to your own posts to keep them on the main board. 

 

 

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#3) On February 01, 2010 at 6:21 PM, jddubya (< 20) wrote:

"...few Fools really have any clue about how things are about to change."

Including you, as you've proved over and over.

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#4) On February 01, 2010 at 6:49 PM, Varchild2008 (85.49) wrote:

If we extrapolate just the same number of bank failures in January to the rest of the year.....We get 15 banks failing times 12 months or .....drum roll.....

180

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#5) On February 01, 2010 at 9:40 PM, AvianFlu (33.73) wrote:

I noticed one of the failed banks (First Regional) was the one our company used to use for our corporate merchant account. Cost to FDIC expected to be about 885 million dollars. Thank goodness we bailed out a long time ago.

The local bank here that is supposedly the strongest financially just cancelled the subscription to the newspaper that was provided for the lobby, as well as cutting the quality of the free coffee. How desperate are you when start cancelling the newspaper????

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