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alstry (35.03)

Who Is More Insane...Alstry vs. Fools?

Recs

11

August 06, 2010 – Comments (19)

Alstry for blogging so much

vs.

Fools for fantasizing we are having a recovery when Wall Street and Waghington are borrowing and spending over $3 trillion dollars per year and we are still losing jobs?

My guess is most of you would think your neighbor was really successful if he or she was borrowing and spending a million bucks a year living the perception of the "high life."

Now the only question is what would our economy look like if Washington and Wall Street couldn't borrow and spend money like they are now.....we saw what it did to new home construction......

19 Comments – Post Your Own

#1) On August 06, 2010 at 5:03 PM, dragonLZ (99.69) wrote:

For the first time: MY VOTE IS FOR ALSTRY.

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#2) On August 06, 2010 at 5:10 PM, alstry (35.03) wrote:

So you believe government and Wall Street can continue to borrow over 20% of GDP....annually........?..........and if they stop borrowing then what?

You must have been one of those people who thought one could keep borrowing on their home because home prices only went up......;)

Welcome aboard.....

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#3) On August 06, 2010 at 5:11 PM, Teacherman1 (62.19) wrote:

Come on Cato, be nice. He is a fanatic, but I don't think he's insane.

I must admit though, when I read that headline, my first instinct was to just type in his name.

Have a good weekend and a great week next week. 

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#4) On August 06, 2010 at 5:26 PM, alstry (35.03) wrote:

Alstry a fanatic?

What do you call Washington and Wall Street borrowing OVER $3 trillion dollars per year and spending it?

My guess is people viewed Markopolis as a "fanatic" too when he said Madoff's performance was impossible.....over 5 years before the fraud was uncovered.....

and you think your silence relieves you of liability of this behavior.....?  It is good you really don't understand the concept of joint and several liability.....as it is your pension fund participating in this nonsense....and indirectly, by your silence, you too.....;)

Just ask Madoff's client's who knew but said and did nothing.

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#5) On August 06, 2010 at 5:51 PM, dargus (86.23) wrote:

How exactly did you arrive at that figure, Alstry? How did you calculate what Wall Street is borrowing?

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#6) On August 06, 2010 at 5:54 PM, tfirst (36.80) wrote:

Alstry has my vote. The politicains are quite sane.They are only doing what the uninformed, spineless public have been goaded into letting them do. And nothing will change until they completely break the system or mobs of starving citizens begin to burn down banks and such. That kind of hunger isn't here yet, our poor have cell phones and cable TV.

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#7) On August 06, 2010 at 6:05 PM, alstry (35.03) wrote:

My buddy is a key bond trader for one of the largest banks in the nation........but the data is very public on how much debt Wall Street issued last year.....

and remember all that debt and"equity" is infecting your retirement, pension and investment accounts.......

and you imply Alstry is insane......amazing!

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#8) On August 06, 2010 at 6:41 PM, NDimensionalDino (98.16) wrote:

The reason we're still losing jobs. (in no particular order)

1. much of the so-called "stimulus package" only stimulated the pockets of a few.

2. billions of dollars continue leaving our shores in the form of trade deficits.  Half of it goes to oil rich countries.  And yes, some of them are selling us oil with the right hand while funding terrorism with the left.

3. We're spending trillions of dollars on foreign wars - largely paying foreign companies to run them.  Very little of that money is staying here at home.

4. The war on terrorism is strangling the movement of goods and people.  All these restrictions nearly meaningless.  Our losses on 9/11 were a couple billion dollars - public reaction cost 2 trillion dollars.  Then we've spent billions more on half assed security while the resulting restrictions have cost us trillions in lost opportunity costs and red tape.  Our reaction is costing us far more than any terrorists could ever dream to do.

5. wealth disparity is getting out of hand.  Not enough $$ left over for the majority of households to maintain demand.

6. Federal tax policies favor outsourcing.

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#9) On August 06, 2010 at 6:49 PM, alstry (35.03) wrote:

Wait a second....we are being told this is a recovery.....

And people think Alstry is insane?

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#10) On August 06, 2010 at 7:03 PM, dragonLZ (99.69) wrote:

So you believe government and Wall Street can continue to borrow over 20% of GDP....annually........?..........and if they stop borrowing then what?

You must have been one of those people who thought one could keep borrowing on their home because home prices only went up......;)

Yes, I'm one of those people. I was stupid, what can I say?

And you must be one of those people who thought home prices will go down to zero (so you red-thumbed all stocks that have anything to do with home building, or economy in general, and lost all of your points you made while being right)...

Not much smarter Alstry, not much smarter...

p.s.

+1 rec (# 2)

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#11) On August 06, 2010 at 7:08 PM, alstry (35.03) wrote:

actually....home prices are well on their way to zero....or really really close to zero.......Detroit is a good start.....

the only thing keeping home prices above zero is government and Wall Street borrowing $3 trillion dollars per year and spending it..............for now:)

Remember, without an income......it is very tough to afford a home......and almost just as hard living on unemployment or social security and trying to eat at the same time....even if the home is fully paid for after factoring maintenance, taxes and insurance.

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#12) On August 06, 2010 at 7:17 PM, ragedmaximus (< 20) wrote:

lets see .my neighbor who gets paid well just got laid off along with 39 other city workers and 20 are getting rehired and must apply again for less money I'm sure and his neighbor is letting the house get foreclosed on and walking away .The 5 million or more shopping plaza near the intercoastal waterway where all the old rich people live is barren and empty.But wallstreet is making hand over fist along with the banks who got all their hard earned money back.meanwhile wallstreet stocks continue to inflate on low volume so when enough dumb money sheep retail investors get back in and buy all this over priced inflated bag of poop filled with muratic acid ,wall street will light the fuse and it will blow up in retails face! So wally street is looking for a few good chumps! 

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#13) On August 06, 2010 at 7:32 PM, dragonLZ (99.69) wrote:

Remember, this is not the first time real estate prices plunged (and they recovered every time).

Same with the stock market...

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#14) On August 06, 2010 at 9:16 PM, alstry (35.03) wrote:

Tell that to the people of Detroit...............or Peoria......or Youngtown..........or........

The cycle for the buggy whip always recovered for 2000 years.........until the car was invented............

Remember.....this is a paradigm shift.....not a cycle.

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#15) On August 06, 2010 at 9:54 PM, dragonLZ (99.69) wrote:

I agree with you people are hurting real bad, I just not agree this is the end of the world.

Remember.....this is a paradigm shift.....not a cycle.

Paradigm shift like in we won't be living in houses any more, we won't need food any more, no more need for transportation,...?

p.s. Just FYI: Car is just a continuation of the buggy cycle... (and guess what? peple invented planes too. It looks like transportation is improving instead of dying off like you are suggesting. Even buggies are better today... :) )

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#16) On August 07, 2010 at 12:28 AM, bluebare (28.79) wrote:

The stock market affords profits on both sides of the trade.  A clear understanding of macro-economic conditions is one, but only one, of the many factors one should consider in making  investment decisions. 

Being double or triple short on every single investment hoping to capitalize on a doomsday scenario isn't insane compared to the more thoughtful strategies employed by most CAPS players. It's just the same stupid high-risk gamble you go public with every once in a while in the hope of a big score so on some magical crash day you can say "I told you so" to everyone at CAPS and, in your own eyes, be vindicated as the  prognosticator of some significance you presume yourself to be, an unhealthy pattern of grandiosity and single-minded investment behavior dating back to long before 09/09/09 that has led to a disastous decline in your personal credibility and CAPS rating.

My vote is for alstry to adopt a humbler outlook and find a more constructive hobby to channel his considerable well-intended energies. IMHO your repetitive apocalyptic blog rants insulting Fools, including me, for lack of economic understanding are offensive and don't advance the CAPS mission of being "informative" or "amusing."  I will always respect your right to free speech and free choice, alstry, but I wish you'd try a little harder to speak more kindly of and to others and make wiser investment choices.

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#17) On August 07, 2010 at 12:46 AM, atarigod (< 20) wrote:

Alstry, you know of Youngstown?! That is where I am from!

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#18) On August 07, 2010 at 5:05 AM, tomatoflu (< 20) wrote:

Even those who claim to something about finance have not picked the obvious.

"If money is created as debt, then how is the money to service the loan created and where?"

G.I.Gurdjieff:

"One thing alone is certain, that man's slavery grows and increases.
Man is becoming a willing slave. He no longer needs chains.
He begins to grow fond of his slavery, to be proud of it.
And this is the most terrible thing that can happen to a man".

"The crowd neither wants nor seeks knowledge, and the leaders of the crowd, in their own interests, try to strengthen its fear and dislike of everything new and unknown. The slavery in which mankind lives is based upon this fear."

 

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#19) On August 07, 2010 at 2:32 PM, atarigod (< 20) wrote:

Alstry, I am very impressed you know of Youngstown. I'll throw in my personal experiences in here to give a little meat to the argument. My grandparents bought their home in Youngstown in 1947, I do not recall what they paid for it then. However, I do know, they sold it in 1996 for $3,000. Yes, that is not a typo, three thousand dollars. While I do not know what they paid for it in 1947, I am certain they paid more than $3,000 for it. And no, they did not let the house get delapidated or run down, once businesses close and there are no jobs, who wants to or has the means to buy houses in an area that is in decay?

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