Wisdom and Humor from Better Blogs then Mine. Marc Faber, The Onion, SNL Palin and Clinton
I just climbed back to #4 in points. abitarePerfect is up 700+ points today and climbed to 150ish.
For those who dare short this stupidity, these are outstanding times to be an "investor". I prefer to be a bull, but the level of stupidity, lies and leverage is so extreme, that I cannot help but to be 100% short the Market. Nouriel Roubini think the US market has another 20% fall coming, that makes sense to me.
When totally ridiculous heavily promoted stocks like: DRYS, CRM, GGP, LEH, etc....have 10X as many UNDERPERFORMS as Outperforms, then we will be near the bottom.
My Top Picks are where most of money circulates, as you might guess from my points, it has been a good day for my portfolio.
I have been actively looking for some farmland. But the housing bubble has had sent the price of Farmland to extreme highs as well. What use to be 2-10K an acre is now $10-40k an acre.
I wanted to attend a 30+ acre Estate, farm auction in PA, but I could not make it. Turns out they did not except the highest bid ($385k). The realtor wants more then $12K per acre. He wants to turn this beautiful and productive farm land into CONDOs or McMansions lots! It made me kind of sick. I thought we were running out of "greater and later fools" to buy into the housing bubble. The estate even had a horse carriage, which might be useful if "peak oil" is real?
My Top Blog is doing well; I am a head HynoToad and Lordz on RECs...so I guess I should share wisdom or humor worth reading. To keep my lead over these "two wannabe"
WISDOM Worth Reading:
Jim Kunstler 15 Sep 08
A Ripe Moment
" A lot of it was actually translated over the years into Hamptons villas, Gulfstream jets, and other playthings that will now go up on Ebay or some equivalent as we turn into Yard Sale Nation in a general liquidation of remaining assets. Of course, the trouble in a situation like this, where absolutely everybody is trying to pawn off assets, is that there are very few buyers on the scene, so the prices of all these things go down down down. Everything is for sale and nobody has any money.
This was essentially the state of things in the Great Depression of the 1930s, and the only escape from that turned out to be the mobilization for war. And in the aftermath of that terrible war, we were the only industrial nation that hadn't been bombed to rubble. What's more, we had a very handsome supply of industrial world's primary resource, oil, at our disposal. So we spent the next thirty years making oodles of things and selling them to people in other lands (lending them the money to buy), until these nations were back on their own feet and solvent. And after 1975, the industrial club picked up a bunch of new members and they all began to clean our clock."
Of Moose and Pit Bulls
"To countries competing with the US, as for example Japan, the American military budget is a godsend, the equivalent of a golf handicap on a rival, because it represents money the US cannot spend to become more competitive. Fortunately for Asia, American military expenditure cannot readily be cut back. Too many jobs, military towns, and corporate profits depend on it. Consequently China builds infrastructure while the US builds fighter planes. The only plausible brake will be conflict with Social Security and Medicare, cuts in which will wake the Public Monster."
Will U.S. Troops Invade Mexico?
By Carlton Meyer
Americans are inundated with debate about Iraq. Generals insist the USA is winning, which tells us nothing since they are incapable of negative assessments of their efforts. They tell us the “surge” was a success, even though more troops remain in Iraq today. If the USA is now victorious, why not reduce troop levels and spending? Presidential Candidate John McCain has no answer to this simple question. His opponent, Barack Obama, says most troops should be withdrawn, and sent to Afghanistan. While both plan their moves as the next emperor, whoever wins the election will likely bring troops home to deal with the failing state of Mexico.
Also the Bespoke Investment site is outstanding and Free here:
Goldman Sachs Cut To 'Neutral From 'Buy' At Merrill Lynch; Faber: It's Better For World To Have Fewer Brokers; Faber Sees 'Real Economy' In Recession In A Year
Watch the rest here:
1. (Humor) Palin / Hillary Open SNL
2. Brash Young Floor Trader Trying To Rally Dow All By Self
The Onion Reports here:
http://www.theonion.com/content/node/55941 3. Fed to Accept Lower Quality Assets As Collateral