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My Original Position is Confirmed

Discussion in 'Political Discussion' started by PatriotsReign, Sep 19, 2008.

  1. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    For the past 6 months I have stated my position is that governmet intervention will make the economy AND the financial markets worse. I had stated this would happen in the Long Run, but I have 2 national experts that not only confirm or agree with my position, but they feel this will impact the markets quickly and predict a huge fall in the stock markets this October...Yes, one month from now.

    Depsite the fact some have accused me of cheering for a recession, I have always stated that I just want the government to stay out of trying to control the economy.

    Here's what these 2 experts have to say;

    Professor Bennet Sedacca - A well respected investment expert often quoted by the WSJ, Fortune Magazine, The Street and several other respected trade publishing companies

    "The Pain Trade

    The Federal Government just declared war on short sellers.
    Will it help the real economy? No sir.
    Will it help the value of my house? Nope.
    Will it blow up hedge funds? Yep.
    Is it a selling opportunity? You betcha.
    Will the rally last ? No.
    Will earnings increase? Actually I think they will fall.

    My conclusion? The pain trade, after this burst, is a crash in October. Yes, a crash. I am not talking my book as my firm is delta neutral.

    What makes me ill is that folks in the media are the mouth pieces of irresponsible Government officials.

    I am sick to my stomach watching Socialism take over. And with that, I head to the Ryder Cup."


    Mike "Mish" Shedlock investment advisor representative for SitkaPacific Capital Management

    "Government manipulation can never prevent financial Armageddon. In fact, government intervention and manipulation in the free markets eventually guarantees financial Armageddon."

    Mish's Global Economic Trend Analysis

    Only time will tell...But I think the current exhuberance will lead to a bigger fall. Just as Professor Sedacca has predicted. Remember, investor confidence doesn't lead to economic recovery because it won't fix what is broken.
     
    Last edited: Sep 19, 2008
  2. Michael

    Michael Moderator Staff Member PatsFans.com Supporter

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    #12 Jersey

    Governmet intervention makes anything worse. "I'm from the government and I'm here to help." RUN!!!!
     
  3. weswelker#83

    weswelker#83 In the Starting Line-Up

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    If you thought the last bubble was something, wait until you see what's brewing now. There is absolutely no incentive to prudently manage risk now... all financial bets are under the umbrella (as PIMCO might say) of the US taxpayer.
     
  4. Michael

    Michael Moderator Staff Member PatsFans.com Supporter

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    #12 Jersey

    [​IMG]


    ________
     
  5. Fogbuster

    Fogbuster Pro Bowl Player

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    The only thing the Government should do is make sure that banks eat their own mistakes when these banks want to give mortgage money to people with lousy credit/no credit history.

    It is NOT the American tax-payer who should be held accountable for crappy, selfish, opportunistic, predatory lending practices by greedy bankers.

    And I still say that since the relaxation of credit standards was initially recommended and started "14 years ago", we all need to focus on the administration who was in power at that time, and that was Bill Clinton's administration. If any Dems want to say one word about this debacle "belonging to Bush or Repubs", then it's game on, and the truth of the beginning of this problem will come out and only hurt Obama & Co.

    Go ahead. Make my day.


    //
     
    Last edited: Sep 20, 2008
  6. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

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    what about that article on derivatives and hedgefunds?
     
  7. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    I used the same line the other day saying no republican should ever again open their mouth to complain about tax dollars to the poor.

    You sound like a little kid..."He started it!", "It was his fault"...and you & I already went down this road Foggy.

    I've already explained to you (or someone) that the Clinton administration never encouraged stupidity and stupidity is why we are where we are.

    I'll say it again, If we pass a law that makes federal bailouts or loans to business organizations illegal, then we'll never get in this kind of mess again. It's actually a great idea!
     
    Last edited: Sep 20, 2008
  8. Michael

    Michael Moderator Staff Member PatsFans.com Supporter

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    #12 Jersey

    If you honestly believe that then you are just another yellow dog Democrat and I can stop reading your post as I have others who are just about their team.
     

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