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On The Triviality Of Campaign Promises And "Letting The Process Work Its Way Through"
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From AP:
"Treasury Secretary Timothy Geithner and National Economic Council
Director Larry Summers both sidestepped questions on Obama's intentions
about taxes. Geithner said the White House was not ready to rule out a
tax hike to lower the federal deficit; Summers said Obama's proposed
health care overhaul needs funding from somewhere."
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For the guy who was asking about his Mom's IRA: meet in the middle and sell half of it. If you're wrong and the rally continues, you can ride half of it up. If you're right and the whole thing craps out (as I think it will) then you've at least saved some hide.
OR sell some calls on the SPY maybe 5% out of the money and 6 weeks to go...and keep rolling it. I'm totally out of the market myself except for a few high-dividend stocks, which I will have no fear about adding to when we drop 10 or 20% from here.
the 'O' man gets only one thing right - hOpe doesn't cost you anything, and hOpe is the only thing that human beings can really have, permanently.
but what a shame that hope never helps.
the events of next days and weeks on financial markets will be named by historians as the Perfect Storm.
'O' man has had his chance to change the 'future'.
Palin has a very strong libertarian streak, which would be good for us for a change.
I never asked for this bailout, in fact I called repeatedly and said NO...why would I at all be inclined to want to pay more in taxes because you've now spent it, much to my chagrin?
Wanna save money....eliminate the rest of the porkulous, er stimulus bill and retire the bank bailout money that's been returned.
I still remember Feinstein standing up there saying something like, "if we really care about our consituents then there's only one vote and that's yes"....WTF!
my .02
Maybe if they would stop giving away the farm to the same guys that destroyed it, there'd be a little more left over for productive purposes:
Wall Street profits from trades with Fed
By Henny Sender in New York
Published: August 2 2009 23:04 | Last updated: August 2 2009 23:04
http://tinyurl.com/lequ2g
“You can make big money trading with the government,” said an executive at one leading investment management firm. “The government is a huge buyer and seller and Wall Street has all the pricing power.”
A former official of the US Treasury and the Fed said the situation had reached the point that “everyone games them. Their transparency hurts them. Everyone picks their pocket.”
However, another official familiar with the matter said the central bank “has heard that dealers load up on securities to sell to the Fed. There is concern, but policy goals override other considerations.”
Larry Fink, chief executive of money manager BlackRock, has described Wall Street’s trading profits as “luxurious”, reflecting the banks’ ability to take advantage of diminished competition.
Scanning the comments...i'm looking for the, his lips are moving he's lying quote.
Of course taxes are going up. Let's make a quick comparison. A week ago, at a silly town hall event, BB said that he didn't want to be the Fed President to preside over the next depression. Candor from a Fed Chairman. Now consider the daily drone of this Administration. The same talking points, over and over again even in the face of Congressional action, CBO analysis and shifting public opinion.
My prediction is that Obama will be the President known for creating a US VAT, (Value Added,) tax. This will be a memorable moment in American history. It will be a function of the audacity of liberal Democrats who believe the federal system can do anything and the colossal failure of the Republicans who are cannot figure out how to stop the madness.
Of course with all the sound and fury over health care and taxes we should not forget that the template for federal healthcare, Medicare, is basically bankrupt.
Guys, I don't know what the big deal is, the recession is over, the green shoots are sprouting, the automotive secor has replaced financials, or was it comodities, as the new leader... this baby is going higher and we're all gunna be rich...aparently bankruptcy WAS all they needed to get things going again... don't believe me... check out these 2
ARM
DAN
When did the comment section of ZH get over run with idiots? When?
It's like when you have a favorite neighborhood bar and suddenly, almost overnight, it gets overrun with posers and wannabees and the party's over... just. like. that.
This is starting to suck. Most of you are trying to run your own personal blog vicariously through ZH. And here's a news flash for you - no one gives a shit what you have to say. SO, with that in mind, go start your own blog somewhere else and see how many hits you get.
Dude, you are so uptight that it sucks being you. You should go smoke a bowl or hire a whore or something. Nobody wants to sit next to you at a bar anyway.
I am Chumbawamba.
And, I'm sorry but I have to say it - Project Mayhem, you're, like, the KING IDIOT on these boards. You, "Had your ppls go into cash and metals months ago"? And they still talk to you? After missing a 40% rally on the S&P? With the dollar now as of this weekend trading at the lows of the year? And you're actually on this site trying to project some air of respectability? Are you fucking kidding me?
1st of all I doubt very much that you have any "ppls." 2ndly, you need to give it up. You ain't Tyler Durden and you ain't ever gonna be Tyler Durden, no matter how hard you try. Whether you come up with some ridiculous ID like Project Mayhem or name drop Aphex Twin. For every article ZH puts up, there's you all of the sudden with more content in your posts in the comments section than there is in the actual article. It's getting annoying. No one gives a shit, dude. Get a life. Please. Stop cluttering up the comment section with your desperate and utterly transparent attempts at acceptance. Or, as I suggested earlier - go and start your own blog. Because no one comes here to read your crap.
Yes, because "vicelord" is a much more down-to-earth ID than "Project Mayhem". Why, you're gangsterrific.
Zero Hedge used to be a good forum for sharing information with other like-minded economic intellectuals. What the fuck happened here? Does 4chan have a new project?