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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: patron_anejo_por_favor who wrote (147872)9/19/2008 1:11:35 AM
From: James HuttonRead Replies (1) of 306849
 
"3) This won't be construed as "dollar-positive" for very long. Moving risk to the taxpayer because the entire financial system could no longer handle it is hardly representative of a healthy economy or currency"

I've given up trying to figure out how the dollar moves up every time the Fed and Paulson promise more dollars to bail out some sh*thead who doesn't deserve it. Dollar up/gold down tonight.

FWIW, I talked to some folks tonight who aren't particularly interested in markets other than their retirement accounts they see every three months. One guy said he heard the AIG news and got really pissed, even though he didn't quite understand it. Another guy had the same reaction about FNM/FRE. And on and on. So, although most people sort of understand the government is "bailing out Wall Street", it is clear that most people have no clue that the Federal Reserve and the Bush Administration have killed whatever was left of the free markets in this country and have given away billions in taxpayer money to a select few wealthy individuals, and it appears the process will now go on for years. Boone Pickens may be wrong when he says buying oil from the A-rabs is the greatest transfer of wealth in the history of the world.

It's also pretty funny when you mention short selling, most reactions are, "that's illegal isn't it?" Until now, I laughed and explained the difference between naked and non-naked short selling, at which point most people's eyes just glaze over.

Anyway, the last couple weeks have been utterly surreal. Kind of like something Keynes, Putin, and FDR would have dreamed up together if they had shared some bad acid.
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