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alstry (35.40)

Manipulation????

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23

February 12, 2009 – Comments (15)

The S&P hits key support at 805 and we get an announcement that some mortgages will be subsidized?  Anyone think Goldman and/or other players were tipped off prior to the announcement?

The problem is the system has TOOOOO MUCH DEBT.........plain and simple....... and the revenues are not enough to cover the debt.  Until we purge the debt, revenes will continue to contract and the deterioration will continue.  The longer we take to purge it, the longer this down cycle will continue........

Alstrynomics has known this for some time.......you can spin it anyway you want....but until the debt comes into line with the revenues.......we will see more and more defaults.  The longer we take to purge the debt.....the more painful this will be for ALL Americans.

So you can keep dreaming about the market recovering.....but until we kill the debt cancer.....the distress will keep on spreading...........why do you think Alstrynomics NEVER waivers and remains laser focused on the issues???????

If we subsidize some homeowners on a street, do you think the other homeowners will want to be subsidized too????

15 Comments – Post Your Own

#1) On February 12, 2009 at 6:08 PM, alstry (35.40) wrote:

WASHINGTON (MarketWatch) -- A program that would subsidize mortgage payments for troubled homeowners subject to an affordability test is being considered by the Obama administration, according to a media report.

This approach would be different from other assistance programs, according to Reuters news service, because borrowers would go through a standard eligibility test and could be approved before their mortgage becomes delinquent.

The Dow Jones Industrial Average recovered from a more than 250-point drop to end 6.77 points lower at 7,932.76, in part, on news of the possible program.

CAN ANYONE SAY TAXPAYER REVOLT!!!!!!!!!!!!!????????

Johnny can't pay his mortgage.  Tom and Dick, two of Johnny's neighbors are working two jobs because their hours got cut back.

If we subsidize Johnny, WTF do you think Tom and Dick are going to do?????You guessed it....Amreicans are now incentivized to be lazy.......F*^K ME!!!!!!!!!!

There is not a chance in hell this can pass.....if it does......we as a nation are screwed.

I repeat my original title....can anyone say MANIPULATION?????

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#2) On February 12, 2009 at 6:30 PM, cmoney85 (< 20) wrote:

Ya I'm afraid we are all wasting our time saving for retirement and bad times.  Those who have money will just get it yanked from them to give to those who don't.  

I was buying stocks while my friends were buying video games.  I was working 40hrs and going to school while my friends were playing video games.  I wouldn't even buy a soda when I could get a free water, while they blew money on cloths, movies, etc.

I've worked many a 80 hr weeks, grown a nice business, nice house, nice savings, nice retirement, nothing extreme, just the american dream, but I gave up alot to get it.  And its stuff like this that I hear, that really makes me upset.  And its stuff like this that is really going to kill america.  

This country was founded on hard work, saving, being smart, being honest, etc.  All that is going out the window.

People say credit/ to much debt is the problem, but I think its the that we lost our work ethic, and morals.

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#3) On February 12, 2009 at 6:34 PM, cmoney85 (< 20) wrote:

What I should say is the laziness, greed, etc lead to to much debt, which lead to the fall.  But even if you fix the debt problem, it will just happen again unless you fix the root cause.

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#4) On February 12, 2009 at 6:42 PM, alstry (35.40) wrote:

You think Alstry is pissed....No Sh*t!!!!!!  My friend, it is a combination of many issues.

If we keep going down this path...pretty soon everthing shuts down.....including TMF!!!!!!!!

We are disincentivizing work.....same with savings.......practically every business in America is on the fast track to bankruptcy.....EVEN those with strong balance sheets....because soon they won't have any customers that can pay.

If we don't purge the debt....the cancer keeps spreading unless you had out $100K to every man woman and child in America.

Why the heck do we have so many people from Harvard and Goldman in Washington?????

Get them the hell outta there!!!!!!!!

 

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#5) On February 12, 2009 at 6:56 PM, cbwang888 (26.02) wrote:

The stock market is now supported by not fundamentals.

Credit crisis CANNOT be without creating yet another bubble. Treasury bond or USD bubble whatever you want to call it. 

Instead to let the free market function by itself, governement thinks that it can the crisis. This crisis is now beyond housing. Commerical REs, credit cards, corporate debts, ...

Now FED is leveraging with Treasury's money approved by Congress and giving out credits to some credit-worthless firms/people. How is that going to help in the long run?

 

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#6) On February 12, 2009 at 6:58 PM, cbwang888 (26.02) wrote:

I meant to say: 

The stock market is now supported NEWS by not fundamentals.

Credit crisis CANNOT be SOLVED without creating yet another bubble. Treasury bond or USD bubble whatever you want to call it. 

Instead to let the free market function by itself, governement thinks that it can SOLVE the crisis. This CREDIT crisis is now beyond housing. Commerical REs, credit cards, corporate debts, ...

Now FED is leveraging with Treasury's money approved by Congress and giving out credits to some credit-worthless firms/people. How is that going to help in the long run?

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#7) On February 12, 2009 at 7:06 PM, alstry (35.40) wrote:

My friend...we are out of bubbles......the house was it......

The only thing left is to leave a bag full of cash on everyone's door step which ostensibly screws us all with hyperinflation.

THE ONLY SOLUTION IS TO PURGE THE SYSTEM OF DEBT THROUGH RAPID AND SYSTEMATIC BANKRUPTCIES.

Anything else compounds the problems by destroying the dollar and savings.  If the dollar is worthless, than we are all bankrupt as costs rise faster than our abilities to pay.

At least with a reorganiztion....those that were prudent savers can remain standing to set the foundation for a recovery.

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#8) On February 12, 2009 at 7:10 PM, nuf2bdangrus (< 20) wrote:

It's why I keep a short leash on my shorts.  I went to lunch at 230 DOW down 220, and came home down 90.  Luckily I has stops.  I'll reshort.  We're fighting a giant battle in which the printers of money (who hold the power) are trying to keep the music playing.  Market bounces off support again.  PPT at the helm.  GOvernment will do ANYTHING to keep it up.  Including killing the dollar.

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#9) On February 12, 2009 at 7:27 PM, vriguy (71.49) wrote:

cknapp01

Completely agree.  I am sick of hearing that I have to be responsible for bad financial decisions made by people.  I suppose the taxocrats will not be satisfied till I am broke too. 

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#10) On February 12, 2009 at 7:32 PM, alstry (35.40) wrote:

WE WILL ALL BE BROKE!!!!!!!!

So will TMF....I would be shocked if they are not taking drastic cost cutting actions right now!!!!!!!!!  Almost every other business that I am aware of is not acutely feeling the slowdown.

TMF...as a community based organiztion should be leading the charge to put an end to this nonsense.  We are concentrating wealth and power into very few hands.

Unless we purge the system of debt...the cancer will consume us all....very very soon!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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#11) On February 12, 2009 at 7:41 PM, alstry (35.40) wrote:

For you Fools FANTASIZING about Inflation.....

Toyota plans huge U.S. cuts Reeling from global recession, world's largest automaker says it will cut production at U.S. and Canadian plants, offer buyouts to employees, eliminate bonuses, freeze wages and cut execs' pay.

None of what is going on right now is inflationary.  Not the wage cuts and wage freezes.  Not the job losses.  Not the business shut downs or banruptcies.

As far as the government printing money.....it is printing at a MUCH slower pace than money is being destroyed.  If you havn't figured that out yet....YOU WILL LEARN THE HARD WAY!!!!!!!!!!!!!!!!!!!!!!!!!!

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#12) On February 12, 2009 at 7:48 PM, Bupp (28.62) wrote:

bankruptcy is one way of lowering the debt burden.  Inflation is another.  either way, you are right that the debt needs to be dealt with.  It will be interesting to see how it gets handled (most likely a combination of the two?)

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#13) On February 12, 2009 at 7:49 PM, alstry (35.40) wrote:

More evidence of DEFLATION:

Falling Milk Prices Kill Cows

Airline Stocks: Continental, AMR soar with falling oil prices

Charter to file for bankruptcy by April 1

Marriott swings to loss on charges, revenue slump

Dow Chemical cuts dividend for the first time, slashing it by 64%

Economic Report: Seven years of wealth gains gone

Midway Games files for Chapter 11 bankruptcy protection

If you are banking on Inflation....you may be at the wrong bank.  When the fed is printing a few trillion while tens of trillions are being destroyed....those that practice Alstrynomics call that DEFLATION..........and the evidence is everywhere.

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#14) On February 13, 2009 at 9:53 AM, SharpSEO (70.66) wrote:

"THE ONLY SOLUTION IS TO PURGE THE SYSTEM OF DEBT THROUGH RAPID AND SYSTEMATIC BANKRUPTCIES."

But, but.. then the stock goes to zero! Makes Pete Najarian mad.

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#15) On February 13, 2009 at 12:16 PM, RookieQB (28.91) wrote:

Alstry said:

"If we subsidize some homeowners on a street, do you think the other homeowners will want to be subsidized too????"

Bang! You can hold on to my Rec for that, because I d*amn sure want my subsidy if the "troubled" homeowners get one.

If there are two homes with mortgages of 100k but the value is now 50k, how can they justify modifying one person's mortgage if they are now in "trouble" but not the other person even if he can still afford it? The person that can afford it is now 50k in negative equity while the person in "trouble" is forgiven 50k so they can build their equity from that point?

 Man I wish I found CAPS and really paid attention to the economy back when I bought my condo in May 08 because I am really steamed.

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