Another month goes by, another 600k jobs lost.
You know, I still can’t come to grips with the fact that Obama is supporting a criminally insane pork laden “stimulus bill.” It’s almost as if he is being led around by the nose, by some stupid bitch in Congress.
It’s equal to be broke/starved, with nothing but vinegar in the fridge, then going out and borrowing money to buy a new blu-ray dvd player, while the kids at home starve. Fucking idiotic.
Once again, it took Bush 8 years to steal $1 trillion from the Treasury. These fucking bastards are attempting to do it in 1 week, without debate or opposition support. Bush used the war on terrorism to scare the shit out of us; now these fuckers will use pictures of the Great Depression to get what they want.
At the end of the day, I’m all about banking coin and bowling on you fuckers in the comments section anyway. I am indifferent to politics, but find it amusing when the politicians try to steal.
Into a rally, I will likely sell off some of my longs and build my cash position to 50%+.
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Jed works at Macy’s
sell into the rally?
c’mon!
we’re going to monetise everything a la Zimbabwe.
markets going to 10k. Obama has only begun to print. Change we can believe in as long as you believe in what the last guy was doing.
nice post, fly!!!
god bless…
mrkcbill does farm animals
You know what FLY, like I said, the fucking money is going to the people who got Obama elected! Why the fuck he keep on pushing this bill get pass quickly? Didn’t we learn the same 700B shit didn’t work and why this shit would work? Keep on ripping middle class off like this, doomsday is coming at you quicker then you would think…
Jed, go fuck your gas tank.
Blues
Exactly.
Under Bush, it was the military/tobacco/asbestos assholes who benefited. Now under O, all of the greenies win, at our expense of course.
mrkcbill…I call em like I see em…Kansas City…has only steers and queers…which one are you?
Jed is a Homosexual…..Write it down.
Not that there is anything wrong with it.
Nancy Pelosi is a lying, worthless piece of SHIT. She has singlehandedly fucked up the poorly-named stimulus bill.
Obama should pull the ugly whore aside and say “Look, BITCH – write the bills the way I TELL you to write them, or I will rip your heavily botoxed face off, and use it to smother you co-asshole, Harry Reid.”
mrkcbills would willingly have sex with Nancy Pelosi
OK…sorry, that was over the line.
bullish or bearish today make your fuckin 2 days ago i went berish after 3 weeks of banking coin on the bullish side now it looks like im fucked and like i said the past mounth the market will grind its way back to 900 fuck me
The Flea is wise beyond his years .. must be a spiritform of many incarnations
yea this isint anoymous its your pal
Jed,
LOL…. in a NY minute.
Have a good day fucker.
Fly, NO FUCKING SHIT! This is bullshit, and we have to keep on paying taxes?! WTF? We always get screwed, and you know what, after they spent our tax and our children tax money dry, they probably go print more money and start a fucking hyper inflation and we get even more fucked! You know what we are fucked either way, either we get a fucking super deflation (which we are heading now) or we get a fucking hyperinflation where we need $100,000 to get a cup of coffee… fuck! People need to fucking wake up and we need to have an organized rally against this shit!
The Fly’s editorial should be read by the fucks in Congress. Fly’s bullishness was short lived.
Going DOWN 6% today.
You reckon you guys have it bad , we have a white version of the O’man in Oz that’s about put through a $42 billion package representing the same as the O’man’s in proportion to population . It’s basically thieving. We had a surplus with out previous conservative government and main street threw them out because they were ” tired”.
They paid off $96 billion of debt over 10 years and ran a surplus of 3% of GDP for about 5 years. These lowlife lefties get in and it’s gone with a projected debt of $200 billion in 5 years.
That simply spells one thing higher taxes all over the world.
We’re fucking crazy, we could buy a great beachfront home with fast internet connection in a place like Thailand where the foreigners are tax free.
Dog
It’s going down 15% today. I beat ya.
note the bullish header.
wait for it…
wait….wait…
Devildog predicts new lows by…… (wait for it)….
NEXT MONTH (surprise, surprise)
write it down.
Fly, Cronkite was a great hire. Thanks
How bout a Burnt Toast Rally!
Let’s face it Obama and especially Pelosi are Marxist
Fly should take his team and a few posters like TC,LG,DT to Washington and set those assholes straight. DD might blow them up so he stays behind.
Funny how the jobless number would never be 601,000
Um , excuse me, Fly? -that’s 500MILLION jobs
someone was commenting here that Hartford was up last Fri cause the front-runners of the article in Barrons. Today Hartford is down big…
moe
the o’amn is an opportunist which is how he made it through Chicago politics. Once he sees that stupid fucking Pelosi is a dumbassed moron and Harry ought to be incubated in an old people’s home he’ll run a mile.
The thing the Dems doesn’t realize is just how unpopular the congress is with people. If they get the blame next election they’re absolutely fucked.
They won’t be able to tag the GOP with the recession or depression and the people are fucking out to punish someone bad. This is a good election to lose.
Oh, Sorry Fly, my bad- I meant 500K. Guess I was trying to scare the public too hard. Of course I know there’s not 500Million jobs (unless I include bloggers)
Devildog, just as a side to the link you posted yesterday on China building new submarines, you might already know this but I find this odd, to go along with it. Is there something going on here?
http://www.defensenews.com/story.php?i=3875058&c=AME&s=SEA
Oil getting homo hammered early. At these prices John McCain will be able to live forever.
Rong Chiner!!!!
There were some comments from last night’s thread that I couldn’t let go:
__________________
They will spend 15 bill in buyback, in a 6 mo time frame, while oil is in rapid dissent.
And what’s worse, Obama has included oil in his plans for a new Fairness Doctrine. I for one support oil’s rights to free speech and public protest.
____________
And less comical, this:
E8 says:
Fuck the world …. honor free trade for private industry and import cheap consumer goods as usual but when it comes to “domestic stimulation” the labor and materials must be produced here. A foreign subsidiary of a U S corp should not be allowed to use imported materials or labor though a foreign entity producing here should be allowed to partake in the program if they use U S labor and raw materials produced here.
Employee 8’s new moniker: “Mr. Smoot.”
Those who cannot learn from history are doomed to repeat it. – George Santayana
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Phil from Brazil.
took your advice and bought some BAC yesterday. thanks.
Bought my gold back earlier that i sold..
Long Euro for a play back to 1.30
XOM having trouble breaking the 200 SMA on the Daily
Son of a bitch JPM is sky rocketing along with BAC
This is a trap IMO
Don’t look now but SWHC looks good.
DON’T LOOK!
Jake:
I was under the influence of a bottle of Bordeaux last night. Pardon the poor grammr [sic].
Gen Tommy Franks is buying BAC. Of course it’s going up.
Who’s Tommy Franks?
I’m on FIRE again!
Fact: The more jobs lost, the more iPhones sold. AAPL to $100.
THAR SHE BLOWS!!
Dick Bove off the port bowarrrrrrrrrghhh!!
Bank of America up as Ladenburg’s Dick Bove says the current fears about the bank (that it will fail and be nationalized) “make no sense whatsoever…this bank is cash flow positive. It is not in danger of failure. Plus, the United States is now committed to keep it in business…Plus, for the record, I have always believed and continue to believe that Ken Lewis may be the best operating manager of any bank in the United States. Moreover, I continue to think that this company has $5 per share in earnings power.”
I finally figured out the stock market. When there’s bad news and it’s the worst in 34 years, BUY STOCKS!!!!!!!!!!!!
anyone shorting the likes of AMZN GE COF GS at these levels for going into next week?
J,
The sad part is America marching towards third-tier status. I mean, seriously. The Fly loves America and wants to be positive, but the country is D-O-N-E. The financial system is one big set of skeletal remains, jobs are evaporating away, and Obama is lost in Washington.
Meanwhile, my BAC is up 15% . Does that make any sense at all to you?
BUCILICIOUS, good call FLY!
J,
I have a sell order at 6.43 for my BAC shares bot at 3.35 yesterday. 6.50 seems to be the target for the big boys. I plan on getting a bit ahead of those sell orders.
What a steaming pile of shit this BAC is. And yet, it goes higher. Funny, no?
Phil, how did you get BAC at 3.35 when I never saw it go below 3.77?
Artist-
I’m still short GS and it looks like it is rolling over
AAPL looks like it is going to 100 where it looks like it will meet resistance and will set up for a short IMO. As for COF I am waiting. The short trade got kind of crowded with its crash.
Phil is full of shit
I was under the influence of a bottle of Bordeaux last night. Pardon the poor grammr [sic].
That’s what you get for drinking French vino, paisan.
Don’t apologize, malaprops that invoke secondary meanings are excellent literary devices.
Indeud.
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would you babies quit crying over the stimulus package. Breadlines and mass bankruptcy seem to be what everyone on this board is rooting for. You got any better solutions? Fly, I haven’t heard one idea from your piehole as to what these jokers in DC should be doing to fix the problem. Less pork, no shit. And don’t give me some “let the free markets work” bullshit. They have already proven to be broken right now. This aint no ordinary downturn. Gov’t isn’t the answer- I would agree, but the reason the 30s sucked so badly was b/c Hoover and the boys did nothing for years, right?
Phil from Brazil…do you have indoor plumbing?
Seriously…NEVER underestimate the collective will of the good old USA. Sure we are in the middle of a shit storm…but that is when we are usually at our best.
Bottom line, you better hope and pray for the USA…if we don’t make it…you fuckers south of the border won’t have anyone to sell your overpriced nuts to.
My number is 4.35 on BAC. Apologies for the typo.
Check the boards yesterday, that’s my price. J saw me mention it in real time.
Dollar dollar bill breaking down in a big way folks.
Even Devil Dawg knows he’s liable for surprise buttseks* if that shit continues.
And he almost never knows.
______________
*(kudos to Moober)
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Jed,
The Brazilian government is so flush with cash they guaranteed Petrobrás’ capex investments for the next 5 years. Remember, Petrobras is owned partially by the state, partially by investors.
True, the jobless rate is igniting there as it is in America. The difference is the country is running 30% debt/GDP ratios and is sitting on a mountain of currency reserves with a high national savings rate.
When the market bottoms in mid to late 2010, the US will be stagnant for the next 30 years. Meanwhile, Brazil will start to reverse higher slowly but surely, outperforming the shit out of broke America. It’s that simple.
In sum, everyone’s going to go down together, but America will be very slow to bounce back.
The analysts got it wrong on emerging markets. The decoupling doesn’t happen at the top of a cycle, especially when most fund money was already heavily long emerging markets.
Now that the big boys have deflated those foreign stock markets, they are starting to become contrarian plays again. The irony is that’s precisely going to be the area of outperformance going forward. The decoupling theory is correct, but not at the top of a bull market. Decoupling will begin once we bottom.
Jed — Phil lives in NY.
Don’t be so xenophobic. We’ve got enough America haters on board without making fake ones.
__________
When the market bottoms in mid to late 2010, the US will be stagnant for the next 30 years. Meanwhile, Brazil will start to reverse higher slowly but surely, outperforming the shit out of broke America. It’s that simple.
I dunno if you’ve studied any of your economic policies over the last thirty years, but I would submit they would be the equivalent of Nancy Pelosi being made single vote Empress of America here in the States. But for thirty or forty years.
That’s a lot of socialism. No way Brasil sheds itself of that morass in a short period of time, without revolution, which is in itself somewhat economy inhibiting.
No, you’re not going anywhere without us, unfortuntely.
But hey, its great you have oil to sell to a larger economy.
The ‘pork’ that’s being tossed around is 1% of the bill, I’d love to hear views on the other 99% of the bill before a determination is made that this thing is just Ms. Piggy raping the fuck out of Kermit the Frog.
Jake,
2 things.
First, you’re correct I live in America.
But that’s going to change March 5th.
I’m moving back to Rio to work at the Central Bank of Brazil next month.
Second, contrary to popular thinking, the US is a small piece of the pie for Brazil (only 10% of our exports). Europe is another 10-15%. China is the biggie, with 25-30%. China may be fucked right now, but they’re still buying roughly the same iron ore, manganese and oranges from us. The difference of course is international prices for commodities, so yes, our revenues are much lower now. At some point, those prices will hit bottom (my guess is late 2010) and revs will stabilize, albeit at a lower base than in 2008. But at least “stuff” is being sold, for the most part, through long-dated contracts.
The problem with America is they sell nothing real. The only thing they really sell is US dollars. If the world stops buying these worthless US treasuries (a process which is slowly beginning as treasury yields reverse back higher), the US will be in deep shit. How’re they gonna plug the gap?
Gov’t isn’t the answer- I would agree, but the reason the 30s sucked so badly was b/c Hoover and the boys did nothing for years, right?
Oy vey, another Santayana quote victim.
No, exactly wrong. Hoover was a micromanager that would’ve done Joe Stalin proud. He immediately raised taxes in the teeth of the initial recession and then signed the Smoot Hawley Tariff bill which basically shredded world trade at the exact worst personal time. Then the idiots at the Fed tightened money for the trifecta.
Gov’t is ALWAYS the problem in exacerbating recessions into Depression and the fools with the purse are now doing it again.
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Since the vote on the obamarama comes after the close today they will keep the market from crashing today on “hope”. Therefor, the CRASH day is Monday which will be 6 – 10% breaking through S&P 800 like it was not even there. I can wait. Have a great weekend!
Señior Jed, your mother does not think my nuts are over priced. I make you deal.
I hate NAZI POLOSI.
she is pulling hard on the strings…
DD – at this point you look pretty wrong.
I just checked the futes – looks up 260 points.
Have a nice weekend indeed.
Yo FLy,
Nice rant – why don’t you and your acolytes do something more tangible – like filing complete BULLSHIT for your tax returns?
Make the cunts AUDIT every fucker in the country – drive the IRS’s costs through the roof.
By the by, check out my fucking AWESOME DAX prescience from last Monday (I recall you held a short over the weekend)… Monday morning I called for a 5% rise, got a little more than that…
It’s at Why So Glum? We’re Gonna Rally, with the specific entry declared ‘go’ at DAXRant: Here’s the Bad Ball.
Almost as legendary as my short EURGBP from two weeks ago…
Keep pwning those asstards
GT
GT’s Market Rant
Blues prob has the best fucking point in America God bless it!!!!!
Blues prob has the best fucking point in America God bless it!!!!! Oh and blueses comment was posted Feb 6th 2009