MSNBC and your money

[fett]

You are watching a breakdown in confidence. You are watching "Fast Money" being hung out to dry. You haven't even seen what will happen when these guys try to "Mark to Market" all the leveraged shit they own and try and sell them. This is bad. And it is not over by a long shot.

[fett]

This is a "Real" shitbox of worry. Mark my words. You have not seen anything yet. When the "Smart Guys" can't even figure out what their "Shit pretend money" is worth and Countrywide, the biggest mortgage lender, is on the brink this will get only worse. It's called "Deflation"

[fett]

The Fed just "Killed" the "Shorts" and gave them a gigantic Wedgie. You can't make money "Trading" this Market. Sit back for 6 months. The "Big Boys" are messing with this and you guys do not stand a chance.

[fett]

I'm bumping this thread up. You guys really need to pay attention to what is going on.

[fett]

Makes sense to me. I just emailed our banker and told him to lock in the rate. The check's in the mail Fett

On a sidenote, here's the house we're buying:
http://homes.realtor.com/prop/1085122498

Did you get into the house?

[fett]

The "VIX" has settled down. The bad days are over. No. It is not. The pros are sitting on mega-losses and are waiting for the market to "Stabilize". Those pricks will make the Market calm. Then the "Suckers" will come right back in and buy. This is the worse market I have seen since 1974.

[Argos]

Why are you listening to that TV bullshit? This isn't the massive doomsday that they're saying it is on TV.

[fett]

Bets? I have seen all the "Crashes" since before 1972. My uncle taught me. This "New Funny Money" world is like nothing I have ever seen. This has "Worldwide" Recession wriiten all over it. When you can't borrow money you can't can't grow. When the lenders will only lend to people that don't need to borrow, we are in deep shit. Wake up. The Easy Money Days are way over. I don't have to listen to the TV. I knew the Dot Com Crash was a no brainer. This is way worse than that. BTW. the "Average Investor" watches TV. They will think everything is OK.. They will watch the Market rally and buy from the pros. That's called "Distribution"

[DrDoug]

I am with fett on this one. I am no expert, but I have watched the markets for years (since the early 70's), and this house of cards that the mortgage lenders have built is going to fall. And I am betting it will fall hard.

Kudlow had a panel on his show and one of the guests told him that the market needs this correction, and that the fed should not intercede. Another guest gave Larry a hard time, taunting Larry that he wants people to be responsible for their personal finances but when the big boys start to lose then they whine and want Uncle Sam to step up and save the day.

Boy, that had Kudlow sputtering. Big capitalists are capitalistic only as long as they are making money. They switch to socialists when they cry for the government to intercede and save their bacon. In the meantime, to hell with the average guy on the street. He can fend for himselves.

The revisions to the bankruptcy laws and the sub-prime ALT-A/NINJA loans chickens are coming home to roost. There are going to be lots of little guys who get ground up in this meatgrinder. I hope the big guns take the hits that they deserve. They probably won't, but a person can wish, right?

The housing market was artificially inflated with all of the easy money that was floating around. Prices were driven higher and higher by creating an artificial demand by lending money to people who never would have qualified had cooler heads prevailed.

When it comes to big money and investments, the little guy can only hope to hang on to the coattails. The big guns are the ones who come up with these innovative ways to generate more wealth for themselves. They know how to game the system, and this version of the game is about over.

The hedge funds based on sub-primes are so interwoven into the international finance systems that nobody really has a complete picture of the mess we are facing. Plus the fact that quite a few of them are based out of the Cayman Islands means that people are going to get hurt and the rich will pocket the money they have extracted from the system.

Get lots of popcorn, this is going to get messy. Countrywide is laying off people, and they are borrowing money using paper collateral that is essentially worthless. A realtor friend of mine says that their brokers have cut off all sub-primes, and he says that we are looking at pretty grim times ahead.

[fett]

There is a Doctor in the House. I just can't tell you guys how fucked up this is. He helped alot. Where are the trillions of "Funny Money" going to end up? In the crapper. There is going to be a gigantic shakeout.