Tuesday, September 09, 2008

Sometimes I wish I were wrong

I told you so. This just in from the Financial Times:
"It is the CBO [Congressional Budget Office] view that Fannie Mae and Freddie Mac should be directly incorporated into the federal budget."
More socialism. Yippee.


Dan said...

Government creates the crisis and then offers a solution. The only problem for us is that the solution is more government control with an errosion of our freedoms and liberties - the loss of a truely free enterprise system. In summary as you say SOCIALISM.

Anonymous said...

Well, at least you were wrong about boring summer conclusion :)


linc campbell said...

The interesting part is that for the last eight years it has been the Republican party led by neo-cons leading the charge for a New American Socialism.

Jody said...


Well the summer isn't over yet. It's possible that the market will make some more big zig-zags and end up right where it started.


Yes, it's true. The American free market system is in real trouble when a Republican President and Congress (up to 2006) are actually promoting socialism.

Dan said...

Our free market is being suffocated by socialism and its grip is tigthtening.

Jody said...

Someone recently e-mailed me this comment:

Your post on 8/5/08 (Big up days = big trouble) ... seemed to indicate that any larger than -2% Dow or S&P index moves in a bear market would be unusual … and there have been at least two times in the last few weeks when the market saw negative 3% moves in the Dow and/or S&P (9/4 and 9/9).

I certainly didn't mean to imply that at all! In fact, some of the largest daily drops in history occurred during bear markets! (1929, anyone?) No, it's only large daily gains that distinguish between bull and bear markets. Big up days are bad omens, but large down days occur in both bull market corrections and in bear markets.

Dan said...


From Clearstation Website:

"Real close to July Lows & looks like market will gap down today. The put call ratio and Vix are high, but not to Jan/Mar/July Market Bottom Levels. I think there's a good chance DOW will challenge July low soon & if it breaks the VIX may finally spike which could indicate a bottom. Feels like a lot of people are expecting a bounce here and in the recent past they got it everytime the GOV/FED intervened. The link below clearly shows market reaction after news, the question is: Will this time be different?... We should have answer soon... - tonypar9
Check the second chart on $SPX called "!!!FED MANIPULATION." Chart by M Flavin at Stockcharts."


Your thoughts?