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Bauder recommends to go short in San Diego real estate
According to the WSJ, the govt will probably announce that they will back all bank deposits. But I think the problem lies more with interbank lending;unlesss they are also guaranteeing bank debt it appears everyone will still afraid to lend so credit is still almost non existant. I would characterize much of this as panic selling. The losses weren't confined to financials. The losses were in every sector across the board. Even IBM finished more than 6% off the daily high after their earnings announcement, which is completely ridiculous. People apparently would rather dump their stocks for cash and toss it into an account earning literally no yield than risk it in the market. Alot of the so called "experts" are saying there is a 1000 point rally out there signaling we have hit bottom. It's possible there could be a small rally tomorrow in anticipation of some kind of announcement this weekend from the G7 meeting or the IMF. More likely, selloffs will continue. I would not be supprised to see the DOW drop to a 7500-7800 floor sometime next week before it tries to stage a stong rally. Something to remember. Historically, October is the Dow's best month and the 4th quarter is the best quarter. The way this month has started, that seems a tall order with almost a 25% loss in the last 8 trading days. This next week promises to be one of the most intersting in my lifetime anyway.— October 9, 2008 10:55 p.m.
Bauder recommends to go short in San Diego real estate
GM's 30%+ fall also had a great deal to do with the plunge also as they are 1 of the stocks that make up the Dow. I saw the market begin to fall in the last hour after it was announced that S&P put GM on credit watch negative. Also there was a noticeable groan on the floor when the Dow fell under the 9000 mark. Right now negative psychology is playing a role and that psychology is PANIC.— October 9, 2008 5:14 p.m.
San Diego continues to reward bad behavior
response to #54: I respectfully disagree. I believe some portion of this money will be used to purchase or ensure residential mortgages and in the case of future failures, protect college funds and pension plans affected by those failures. That being said, I wish that Sheila Baer should refrain from having the FDIC take over anymore banks. Let them orchestrate their own solutions or let them go under. Natural selection in the financial world BTW, do you still feel that this bailout is a hoax,that Paulson is trying to run up the stock market before the election and after that, the government will say doesn’t have the money to pull off this off and drop the whole thing?— October 6, 2008 8:21 p.m.
Stocks Down 3% to 4%, after Plunging 8%. Markets Take Bath Overseas, Too
The German govt helped precipitate this by deciding to guarantee all deposits with no limits on size of deposits without talking with the rest of the EU. The BBC reported this morning of large amounts of withdrawls from corp accounts being redeposited in Germany.This had a ripple effect across Europe and Asia. This is at least the 4th time in the last 30 days that the russian govt has halted trading. More than half of the russian markets is oil and gas. As reported by WSJ, investors have been liquidating their holdings as of late. Today oil closed around $88 per barrel, about 40% off the highs in July. On Friday, the 9th richest man in the world, a russian, walked away fron a 1.5 billion invetment.Some articles say he had to turn over the stake to meet a margin call. Alot of russia's growth was funded with cheap loans from overseas which have now all but disappeared. No wonder their market is tanking. As for no confidence, I guess it depends on who's talking. As of Friday Warren Buffet had confidence. In fact he said he would be willing to take a 1% stake in the action.— October 6, 2008 2:17 p.m.
San Diego continues to reward bad behavior
#49 Here's a link to a pdf of H.R.1424. http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cg… Download it and read for yourself.— October 6, 2008 1:47 p.m.
San Diego continues to reward bad behavior
# 43 "BTW, I see no reason why the PBGC would treat a public pension failure any different from a privatse failure." From the PBGC Mission Statement: The Pension Benefit Guaranty Corporation (PBGC) protects the retirement incomes of nearly 44 million American workers in more than 30,000 private-sector defined benefit pension plans. Doesn't say amything about handling public pensons.— October 6, 2008 9:15 a.m.
O.J. Simpson GUILTY!
Actually, the murders occured 14 years ago. The minimum sentences combined of each of the 12 counts is 23 yrs.— October 4, 2008 11:40 p.m.
The Girlfriend, Part Deux
Hawaii is not shark attack central. Since my first trip there in the early 80's, I have been back probably a couple dozen times, at different times of the year and never even heard of an attack while I was there. In 2007, there were 7.4 million visitors to the Hawaii Islands and eight shark attacks. That's 1 in 587,000. The last fatal shark attack in Hawaii occurred in April 2004 and on the average there are only about 3 attacks each year. In 2007 there were 5 attacks in California. Florida is regarded as "shark attack central", averaging about 33 reported attacks per year. "I don't know. Maybe they just like arms." Well, you're kinda of correct in the usual backassward joshboard way. From below, to a shark surfers look suprisingly like a sea turtle, one of their favorites. Quit being a crybaby and take your girl to Hawaii feeling safe with the knowledge that more people are killed by dogs in the U.S. every year than have been killed by shark attacks in the last 100 years. Just make sure you don't tick off her little weiner dog.— October 2, 2008 10:31 a.m.
Comfort Food
"It's funny, because as much as I've never found cheese on mac and cheese I liked...I've never found nachos I didn't dislike." Well the try putting the nacho cheese on your macaroni.— October 1, 2008 9:28 a.m.
Comerica Park, Chase Field – banks foolish to use stadiums
#34 Even more interesting about Pat Riley is that he played against Kareem in high school.— September 26, 2008 1:37 p.m.