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This would be bad news...



November 05, 2007 – Comments (3)

Sooo, what if we can't fall back to plastic, folks?

3 Comments – Post Your Own

#1) On November 05, 2007 at 12:11 PM, 292972826 wrote:

Nice article, you can find more data regarding the saving and credit for the american household in the following link:

However, i disagree with your previous blog where you suggest that we should not buy stock now. If there is far more trouble ahead, i would rather buy foreign stock or commodities to protect myself from a dollar devaluation. From the argentinian crisis, i learned that a financial crisis often end up in a monetray crisis...I will avoid holding dollar at the moment.

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#2) On November 05, 2007 at 1:00 PM, RocketList (< 20) wrote:

No, can't be.  Subprime has been contained for a while now...  Contained to Earth!  Suckers!  I'm waiting for that "revenue" jump over at MA to turn into a "liability" jump.  Yet the vultures are still engaging in group think... Wow.

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#3) On November 05, 2007 at 2:24 PM, MakeItSeven (31.54) wrote:

MA is not a good short target since it essentially just rents out its name to the banks who own the credit card charges.  I shorted it a few months ago but stayed out for a while now  Lucky me, I guess.

Better targets would be DFS, AXP, COF, WM, WFC, BAC.  I suppose WM could be considered a double whammy.  There might be a crack underneath WFC strength, just guessing.

Disclosure: I hold SKF and short positions, off and on, on those short targets listed above. 

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