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March 28, 2008 – Comments (8)

In the comments earlier when I read about the degree of fraud and how Wall Street is getting bailed out for behaviour that would get you executed in China, well, my comment was:

"Why, pray tell, am I not reading about Americans protesting the Wall Street bailouts?  Why aren't the people organizing to protest against tax payers paying for this while these wall street players have an average income of something like $300k I believe I was reading this week... "

Well, the protest is starting via the internet...

http://www.creditbubblestocks.com/2008/03/stop-housing-bailout.html 

So, will this one catch on?

8 Comments – Post Your Own

#1) On March 28, 2008 at 7:48 PM, dwot (97.29) wrote:

Reading Mish, commodities are booming, but sometimes so many people get on a boat, it sinks...

The level leverage, speculation and hedge fund activities seem to be making that boat awfully full.  I'm waiting for a safer boat.

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#2) On March 28, 2008 at 7:50 PM, dwot (97.29) wrote:

Go vote on whether the S&P has seen the low for the year.

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#3) On March 28, 2008 at 8:00 PM, dwot (97.29) wrote:

If this isn't an enormous statement of reasons to RUN...

Well, at least to me it is, 5 new ways to lend to banks since the summer... 

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#4) On March 28, 2008 at 8:50 PM, jahbu (89.14) wrote:

Run to what? 

If you have savings, retirement or wealth where do you recommend placing it?

Jahbu

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#5) On March 28, 2008 at 9:11 PM, Hezakiah (93.87) wrote:

I do not think it will catch on.  Many of these people are the same ones who feverishly supported Ron Paul, yet he could only muster a handful of delegates... barely making a dent in the big picture.  It never ceases to amaze me how uninformed and complacent the vast majority of society remains. 

I do agree that most commodity prices have a fair amount of speculative demand priced in.  Rice is especially interesting of late (up 30% on Thursday alone).  http://www.ft.com/cms/s/0/d6f1cd74-fc29-11dc-9229-000077b07658.html?nclick_check=1

 

I think that if stock markets capitulate as many expect, then we may first see a further flight to commodities before this bubble has a chance to deflate.  One set of commodities that certainly does not seem to be sharing in the glory is livestock.  See COW, which tracks U.S. beef and pork.

http://www.ipathetn.com/iPath-Dow-Jones-AIG-Livestock-Total-Return-Subindex-ETN-overview.jsp 

This chart is quite telling: http://finance.yahoo.com/q/bc?t=6m&s=COW&l=on&z=m&q=l&c=dba 

I would have thought that as corn prices rocket higher, livestock would follow... not so far.  Anyone have any insight here? 

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#6) On March 28, 2008 at 9:20 PM, cluelessmorgan (95.62) wrote:

Look at the oats futures.  Up 4.5% today.

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#7) On March 28, 2008 at 11:50 PM, FleaBagger (29.19) wrote:

Jahbu -

Check out downwithinfidels for some surprisingly sapient investment ideas for the coming inflationary recession, once known as "stagflation." Gold, silver, platinum, and foreign companies that operate and denominate in other currencies in countries that are still in their growth period.

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#8) On March 29, 2008 at 3:14 PM, dwot (97.29) wrote:

jahbu, excellent question.  I tend to think the market is heading down much further.  I think we are heading into the last phase of the market which is a down turn phase. 

I believe the market has out performed every asset class simply because of the perfect storm for growth that it has been in for a very long time, population growth and new markets to enter.  Our planet is showing its limits all over the place and I am not a religious person, but if I was, praying for the planet would be in my daily prayers.  Population growth will never be the same, and the opportunity to increase in new markets is also far more limited due to limits on the planet, like access to clean water.  And another thing, the "gains" are being averaged out over an every increasing base, it simply means growth has no place to go but to decline.  At least that's how I see it.

I think trying to maintain is a far better way to go than trying to increase, even if means some loss of buying power, at least until the market stabilizes some.

I agree Hezakiah.  One of my favourite quotes is Margaret Mead, "Never doubt that a small group of thoughtful citizens can change the world. Indeed, it's the only thing that ever has."

When I think about the stress on the planet and the need to eat, well, we are seeing food costs skyrocket... 

Yup cluelessmorgan...

FleaBagger, I think Canada is a good place to be.  We have small population, big resources and resources are stretched.  I am happy to watch, in my Canadian dollars. 

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