Comments on: Seven Deadly Sins of the Meltdown http://www.ritholtz.com/blog/2008/10/seven-deadly-sins-of-the-meltdown/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 21:16:44 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: melvin polatnick http://www.ritholtz.com/blog/2008/10/seven-deadly-sins-of-the-meltdown/comment-page-1/#comment-123624 melvin polatnick Tue, 28 Oct 2008 17:18:56 +0000 http://ritholtz.vs3.wilder.ca/blog/2008/10/seven-deadly-sins-of-the-meltdown/#comment-123624 Big budget deficits will be on the minds of the new congress. Raising taxes and cutting entitlement programs usually has solved the problem. But a Democrat congressman named Barney Frank has a great idea,he has suggested trimming military spending by 25 percent. It would take the place of raising taxes and cutting entitlement programs. This suggestion has angered most congressmen. But with a new Democratic administration soon coming into power the suggestion by Barney Frank will be taken seriously. Military spending is necessary if our country is to remain safe. But there is a limit to how powerful we want our armed forces to be when there is no enemy nearly strong enough to challenge us. The money saved by cutting military spending could be better used to make our nation stronger by creating more jobs. The defeat of McCain and the Republican Party in the presidential elections will remove the strongest advocates of increased military spending. We need an economy based on peace not war. Obama is a peace candidate and will be a master of international negotiations. He is loved by peace loving people all over the world. Obama understands that America has internal economic problems and making new wars will not solve them. Big budget deficits will be on the minds of the new congress. Raising taxes and cutting entitlement programs usually has solved the problem. But a Democrat congressman named Barney Frank has a great idea,he has suggested trimming military spending by 25 percent. It would take the place of raising taxes and cutting entitlement programs. This suggestion has angered most congressmen. But with a new Democratic administration soon coming into power the suggestion by Barney Frank will be taken seriously.

Military spending is necessary if our country is to remain safe. But there is a limit to how powerful we want our armed forces to be when there is no enemy nearly strong enough to challenge us. The money saved by cutting military spending could be better used to make our nation stronger by creating more jobs. The defeat of McCain and the Republican Party in the presidential elections will remove the strongest advocates of increased military spending. We need an economy based on peace not war. Obama is a peace candidate and will be a master of international negotiations. He is loved by peace loving people all over the world. Obama understands that America has internal economic problems and making new wars will not solve them.

]]> By: Steve Stip http://www.ritholtz.com/blog/2008/10/seven-deadly-sins-of-the-meltdown/comment-page-1/#comment-123623 Steve Stip Tue, 28 Oct 2008 15:24:21 +0000 http://ritholtz.vs3.wilder.ca/blog/2008/10/seven-deadly-sins-of-the-meltdown/#comment-123623 Did the Fed commission your work? The root of the problem is the fraudulent and thieving fractional reserve banking system invented in 1694 to loot the people on behalf of bankers and the government. Please get a clue. Did the Fed commission your work?
The root of the problem is the fraudulent and thieving fractional reserve banking system invented in 1694 to loot the people on behalf of bankers and the government. Please get a clue.

]]> By: Eclectic http://www.ritholtz.com/blog/2008/10/seven-deadly-sins-of-the-meltdown/comment-page-1/#comment-123622 Eclectic Tue, 28 Oct 2008 08:16:28 +0000 http://ritholtz.vs3.wilder.ca/blog/2008/10/seven-deadly-sins-of-the-meltdown/#comment-123622 Barringo: I may be an asshole, but I'm not an asshat. There's a difference. Barringo:

I may be an asshole, but I’m not an asshat.

There’s a difference.

]]> By: Peter http://www.ritholtz.com/blog/2008/10/seven-deadly-sins-of-the-meltdown/comment-page-1/#comment-123621 Peter Tue, 28 Oct 2008 01:49:04 +0000 http://ritholtz.vs3.wilder.ca/blog/2008/10/seven-deadly-sins-of-the-meltdown/#comment-123621 Very clever cartoons. Might as well get to the point and make the points. Very clever cartoons. Might as well get to the point and make the points.

]]> By: samsin http://www.ritholtz.com/blog/2008/10/seven-deadly-sins-of-the-meltdown/comment-page-1/#comment-123620 samsin Tue, 28 Oct 2008 00:51:10 +0000 http://ritholtz.vs3.wilder.ca/blog/2008/10/seven-deadly-sins-of-the-meltdown/#comment-123620 Considering volume is pathetic these days, I guess it doesn't take much to make or break a day. Hard to trade this market if you try to follow hourly momentum. Considering volume is pathetic these days, I guess it doesn’t take much to make or break a day. Hard to trade this market if you try to follow hourly momentum.

]]> By: pitu http://www.ritholtz.com/blog/2008/10/seven-deadly-sins-of-the-meltdown/comment-page-1/#comment-123619 pitu Tue, 28 Oct 2008 00:13:11 +0000 http://ritholtz.vs3.wilder.ca/blog/2008/10/seven-deadly-sins-of-the-meltdown/#comment-123619 Just read the interesting below piece on Brad S. blog. " Back in May 08, a prediction/vision was written about the dollar, stocks and commodities. The price action has vindicated that prediction. What is interesting in that prediction is the WHOLE reasoning of why things would turn the way they did. And they turn exactly as explained in the article below. A FASCINATING and a MUST read. http://financialtraders.blogspot.com/2008/08/dollar-equities-stocks-and-commodities.html Just read the interesting below piece on Brad S. blog.

”

Back in May 08, a prediction/vision was written about the dollar, stocks and commodities. The price action has vindicated that prediction.

What is interesting in that prediction is the WHOLE reasoning of why things would turn the way they did. And they turn exactly as explained in the article below.

A FASCINATING and a MUST read.

http://financialtraders.blogspot.com/2008/08/dollar-equities-stocks-and-commodities.html

]]> By: John Borchers http://www.ritholtz.com/blog/2008/10/seven-deadly-sins-of-the-meltdown/comment-page-1/#comment-123618 John Borchers Tue, 28 Oct 2008 00:11:04 +0000 http://ritholtz.vs3.wilder.ca/blog/2008/10/seven-deadly-sins-of-the-meltdown/#comment-123618 Funny stuff on CNBC poll about are you afraid about losing your job. http://www.cnbc.com/id/27400144 One answer is: I voted no because I am currently out of work. — Jon LOL funny but sad. Funny stuff on CNBC poll about are you afraid about losing your job.

http://www.cnbc.com/id/27400144

One answer is:

I voted no because I am currently out of work. — Jon

LOL funny but sad.

]]> By: thisone http://www.ritholtz.com/blog/2008/10/seven-deadly-sins-of-the-meltdown/comment-page-1/#comment-123617 thisone Tue, 28 Oct 2008 00:07:00 +0000 http://ritholtz.vs3.wilder.ca/blog/2008/10/seven-deadly-sins-of-the-meltdown/#comment-123617 Laughter in middle of human-made economic madness. http://bigpicture.typepad.com/comments/2008/10/new-stock-marke.html Laughter in middle of human-made economic madness.

http://bigpicture.typepad.com/comments/2008/10/new-stock-marke.html

]]> By: Bruce in Tennessee http://www.ritholtz.com/blog/2008/10/seven-deadly-sins-of-the-meltdown/comment-page-1/#comment-123616 Bruce in Tennessee Mon, 27 Oct 2008 23:47:33 +0000 http://ritholtz.vs3.wilder.ca/blog/2008/10/seven-deadly-sins-of-the-meltdown/#comment-123616 Well, since my thoughts are usually random, I've had a couple of additional randoms.. Why would people younger than the baby boomers expect boomers to want to return to this market in any appreciable numbers? First the tech bubble losses, and now this...and boomers are too old to make up the losses between now and retirement... hmmmmmm???? Isn't what Paulson is doing really a transfer of wealth from taxpayers (read lower and middle classes) to those who work on Wall Street who may get to keep their job (and Henry's job after January)...isn't he buying back into his industry with taxpayer money? I mean, really....? 6.5% Countrywide callables reinvested today at 4.35% two year callables....no new money.. Good luck tomorrow... Well, since my thoughts are usually random, I’ve had a couple of additional randoms..

Why would people younger than the baby boomers expect boomers to want to return to this market in any appreciable numbers? First the tech bubble losses, and now this…and boomers are too old to make up the losses between now and retirement…
hmmmmmm????

Isn’t what Paulson is doing really a transfer of wealth from taxpayers (read lower and middle classes) to those who work on Wall Street who may get to keep their job (and Henry’s job after January)…isn’t he buying back into his industry with taxpayer money? I mean, really….?

6.5% Countrywide callables reinvested today at 4.35% two year callables….no new money..

Good luck tomorrow…

]]> By: Patrick http://www.ritholtz.com/blog/2008/10/seven-deadly-sins-of-the-meltdown/comment-page-1/#comment-123615 Patrick Mon, 27 Oct 2008 23:38:32 +0000 http://ritholtz.vs3.wilder.ca/blog/2008/10/seven-deadly-sins-of-the-meltdown/#comment-123615 @ Borchers. Totally agree that BBY is interesting. Market leader. Strong FCF. 5yr goal to double revenues to 80bn, in large part due to int'l expansion. L-T dollar should help. Top competitor is on the ropes - Circuit City fighting off bankruptcy. Not a great short-term view, but show me a company whose is. @ Borchers. Totally agree that BBY is interesting. Market leader. Strong FCF. 5yr goal to double revenues to 80bn, in large part due to int’l expansion. L-T dollar should help. Top competitor is on the ropes – Circuit City fighting off bankruptcy. Not a great short-term view, but show me a company whose is.

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