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  • The US Economy



    I still believe in this great country, and that, together, we'll pull out of this mess. - Stormy

    http://www.youtube.com/watch?v=zWhDbkTmJHA

    I been in a cave
    For forty days
    Only a spark
    To light my way
    I wanna give out
    I wanna give in
    This is our crime
    This is our sin

    But I still believe
    I still believe
    Through the pain
    And the grief
    Through the lives
    Through the storms
    Through the cries
    And through the wars
    Oh, I still believe

    Flat on my back
    Out at sea
    Hopin' these waves
    Don't cover me
    I'm turned and tossed
    Upon the waves
    When the darkness comes
    I feel the grave

    But I still believe
    I still believe
    Through the cold
    And through heat
    Through the rain
    And through the tears
    Through the crowds
    And through the cheers
    Oh, I still believe

    I'll march this road
    I'll climb this hill
    Upon on my knees if I have to
    I'll take my place
    Up on this stage
    I'll wait 'til the end of time
    for you like everybody else

    I'm out on my own
    Walkin' the streets
    Look at the faces
    That I meet
    I feel like I Like I want to go home
    What do I feel
    What do I know

    But I still believe
    I still believe
    Through the shame
    And through the grief
    Through the heartache
    Through the tears
    Through the waiting
    Through the years

    For people like us
    In places like this
    We need all the hope
    That we can get
    Oh, I still believe
    Last edited by Stormy; 07-21-2008, 03:05 AM.

  • #2
    lol.

    You posted a picture of a sinking ship (which resembles the United States Economy).... then you say that we won't sink. Contradictory?

    Stormy.... I'm going to have my doc prescribe you some more anti-dep meds! lol.

    I get what you're saying, though...
    1*

    Comment


    • #3
      Ironic, isn't it, that the picture he posted of the ship sinking is inaccurate as to how the ship actually sank?
      "First of all, then we have to say the American public overwhelmingly voted for socialism when they elected President Obama." - Al Sharpton, March 21, 2010

      Comment


      • #4
        Originally posted by equinox137 View Post
        Ironic, isn't it, that the picture he posted of the ship sinking is inaccurate as to how the ship actually sank?
        Oh, your so brilliant observation. Have you bothered to notice all the men in the lifeboat? An incorrect depiction, by the way. How did that item pass by your expert eye? Have you noticed the length of the lifeboats? What else can your analytical eye tell us about that picture? It's really a hologram. Look carefully.

        Back then, chivalry was still considered a 'top priority' by gentlemen, unlike these days where the 'gentle man' has become a macho-type pushing and shoving his way to the head of the line. Women and children were boarded first onto the lifeboats before the menfolk. But, since you're the X gen, or the Y gen, or something else 'weird', you wouldn't understand that you missed the most important irony in the picture.

        Comment


        • #5
          Originally posted by Chit2001 View Post
          lol.

          You posted a picture of a sinking ship (which resembles the United States Economy).... then you say that we won't sink. Contradictory?

          Stormy.... I'm going to have my doc prescribe you some more anti-dep meds! lol.

          I get what you're saying, though...
          Glad you got a laugh. We'll all have a big laugh come this Fall and into '09, when we'll be paying $20 for a loaf of bread. As Phil Rizzutto used to say; 'Holy cow, now that's funny'.

          Comment


          • #6
            No comments, M-11. The article speaks for itself.

            ---------------------------------------------------------------------

            The Great American Nightmare


            by Martin D. Weiss, Ph.D. 07-21-08

            The rally you saw last week was little more than a normal, bear-market bounce — predicated on the myth of government omnipotence ... spurred by the blind faith in fiat money ... and triggered by the official attacks on short-sellers.

            For investors who jump into financial and other vulnerable stocks now, it's a trap door. But for those who feel like they're still stuck in all the stocks we've been telling you to get rid of, it's an escape hatch. Use it as your selling opportunity. And don't look back.

            We spelled out the reasons in our Special Midyear Update. And behind me on my monitor is just one of them.

            I hope you were able to attend. But whether you did or not, this gala, double-length edition of Money and Markets is the edited transcript, which I've taken the liberty to update with the latest inflation numbers ...

            http://www.moneyandmarkets.com/Issue...erEntryId=1993

            Comment


            • #7
              For every money manager, you will find one who says just the opposite.

              I see the rally as a response to the drop in crude oil prices and banks not doing as poorly as expected. Does that mean everything will be fine? No.
              Facts do not cease to exist because they are ignored. -- Aldous Huxley
              Two things are infinite: the universe and human stupidity. -- Albert Einstein

              Comment


              • #8
                Originally posted by DAL View Post
                For every money manager, you will find one who says just the opposite.

                I see the rally as a response to the drop in crude oil prices and banks not doing as poorly as expected. Does that mean everything will be fine? No.
                A post from a reader of www.lemetropolecafe.com ;

                '...FDIC checks

                The recent news that Wells Fargo and Washington Mutual are not accepting Indy Mac/FDIC checks is beyond belief. These actions carry ramifications that could not appear in a sci-fi movie. Are we to believe that 2 major US banks do not trust the federal government? If this policy is not reversed almost immediately, then the fuse is lit. This is, as far as I know the first time [other than dishoarding of $s] that the credit quality of the US government has come into question other than in the CDS markets. 8 weeks to clear a check? Third world countries clear US personal checks in 30 days! If this goes unchecked, how long will it be before the entire system refuses checks and accepts only Fed fund wire transfers? The epileptic siezures in the credit markets was like oil pouring out of the engine. Failure to accept/clear FDIC checks is akin to shoving a lit rag into the gas tank. They both have the same results more or less, only one explodes much faster and will even melt the tires to the ground.

                Indy Mac's failure will consume between 7-14% of FDIC's current available funds. A run on two or three midsized banks will use over half of what is remaining. Bottom line, the Fed will try to create Dollars upon Dollars to bail out everything. I don't think they can create Dollars fast enough or in sufficient quantity to keep banks and markets open. I do however think that in their failure to "save the system", they will destroy the international value of the Dollar. Possibly overnight. The ultimate bank run will not be Citigroup, Bank America, or Wells Fargo. It will be foreigners "standing in line" to get their Dollars out. It will be the failure of confidence in the US govenment. When US checks can no longer be cleared overseas, those banking systems will then have been dragged into the banking abyss with us. This is global.

                The simplest solution to all of this is to add a minimum of 3 zeros to the price of Gold. That puts 1000 times more capital into central bank coffers. Those that still have their Gold. Regards, Bill H.'


                I've taken my money out of my bank.

                Comment


                • #9
                  Originally posted by Stormy View Post
                  Oh, your so brilliant observation. Have you bothered to notice all the men in the lifeboat? An incorrect depiction, by the way. How did that item pass by your expert eye? Have you noticed the length of the lifeboats? What else can your analytical eye tell us about that picture? It's really a hologram. Look carefully.
                  The bow went into the water first. It broke in half as the bow went under, as the stern was far heavier, and the two pieces sank separately and were later located almost 1/2 a mile apart on the ocean floor. The picture you used has Titanic sinking as one piece, as was popularly believed at the time the picture was painted in 1912 by Willy Stoewer.

                  Originally posted by Stormy View Post
                  Back then, chivalry was still considered a 'top priority' by gentlemen, unlike these days where the 'gentle man' has become a macho-type pushing and shoving his way to the head of the line. Women and children were boarded first onto the lifeboats before the menfolk. But, since you're the X gen, or the Y gen, or something else 'weird', you wouldn't understand that you missed the most important irony in the picture.
                  Maybe I just missed the irony that's important to you pal. You know what Winston Churchill said after people that are still liberal when they're forty....
                  "First of all, then we have to say the American public overwhelmingly voted for socialism when they elected President Obama." - Al Sharpton, March 21, 2010

                  Comment


                  • #10
                    Stormy:
                    Originally Posted by Stormy View Post
                    Oh, your so brilliant observation. Have you bothered to notice all the men in the lifeboat? An incorrect depiction, by the way. How did that item pass by your expert eye? Have you noticed the length of the lifeboats? What else can your analytical eye tell us about that picture? It's really a hologram. Look carefully.
                    Equinox:
                    The bow went into the water first. It broke in half as the bow went under, as the stern was far heavier, and the two pieces sank separately and were later located almost 1/2 a mile apart on the ocean floor. The picture you used has Titanic sinking as one piece, as was popularly believed at the time the picture was painted in 1912 by Willy Stoewer.
                    Stormy:
                    Originally Posted by Stormy View Post
                    Back then, chivalry was still considered a 'top priority' by gentlemen, unlike these days where the 'gentle man' has become a macho-type pushing and shoving his way to the head of the line. Women and children were boarded first onto the lifeboats before the menfolk. But, since you're the X gen, or the Y gen, or something else 'weird', you wouldn't understand that you missed the most important irony in the picture.
                    Equinox:
                    Maybe I just missed the irony that's important to you pal. You know what Winston Churchill said after people that are still liberal when they're forty....
                    You, my friend, are a genius. You've pointed out the most important aspect of your analytical observation of Willy Stoewer's painting, from a conservative's vs. a liberal's point of view;

                    the conservative sees;

                    'The bow went into the water first. It broke in half as the bow went under, as the stern was far heavier, and the two pieces sank separately and were later located almost 1/2 a mile apart on the ocean floor. The picture you used has Titanic sinking as one piece, as was popularly believed at the time the picture was painted in 1912 by Willy Stoewer.


                    the liberal sees;

                    'Back then, chivalry was still considered a 'top priority' by gentlemen, unlike these days where the 'gentle man' has become a macho-type pushing and shoving his way to the head of the line. Women and children were boarded first onto the lifeboats before the menfolk.'


                    My Conclusion:

                    Conservatives do not see the missing women and children in the lifeboat. Whereas, the liberal does. Liberal's are more compassionate, conservative's more heartless.

                    It's obvious Willy Stoewer is a conservative's rendition of the sinking Titanic; the loss of an expensive money-making machine.

                    Thanks, for the great post.

                    Comment


                    • #11
                      WTF are you talking about???
                      "First of all, then we have to say the American public overwhelmingly voted for socialism when they elected President Obama." - Al Sharpton, March 21, 2010

                      Comment


                      • #12
                        Originally posted by Stormy View Post

                        My Conclusion:

                        Conservatives do not see the missing women and children in the lifeboat. Whereas, the liberal does. Liberal's are more compassionate, conservative's more heartless.

                        It's obvious Willy Stoewer is a conservative's rendition of the sinking Titanic; the loss of an expensive money-making machine.

                        Thanks, for the great post.

                        Effing wow......

                        Are you serious? Since you're desperately trying to push this.....I (as well as most here) would say that CONSERVATIVES see BOTH of those aspects. Whereas Liberals see the ship sinking and shout SINK, BABY!!!! SINK!!!!! DOWN WITH YOU! That is all.
                        1*

                        Comment


                        • #13
                          Originally posted by Stormy View Post
                          A post from a reader of www.lemetropolecafe.com ;

                          [i][b][color=blue]'...FDIC checks

                          The recent news that Wells Fargo and Washington Mutual are not accepting Indy Mac/FDIC checks is beyond belief.
                          Yes, it is beyond belief. This assertion appears to be based on an LA Times blog. http://latimesblogs.latimes.com/lala...efusing-i.html

                          The blog quotes ONE Indy Mac customer saying she was told this by an unidentified WaMu manager.

                          The blogger deigned to contact WaMu and was told "'WaMu is accepting checks from IndyMac customers; however, depending on the specifics, funds will be subject to an extended hold period."

                          The FDIC notwithstanding, it's just plain good business to be careful when accepting a check from a failed bank. If the check is for more than the FDIC insurance limit, darn right there will be "an extended hold period."

                          THere may well be signs that THE END IS NEAR, but I don't think this is one of them.

                          Comment

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