James Galbraith on the Bailouts: Discussing government help for struggling businesses, with James Galbraith, University of Texas economics professor.
click for video
~~~
Whether the government will have to spend more than $700B to bail out big business, with Doug Dachille, First Principles Capital Management; Rick Santelli & Steve Liesman.
click for video
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
read more »
November 12th, 2008 at 2:07 pm
Be cautious if you are short the market. If times get really bad it is totally possible the gov’t will outlaw shorting and short funds which could overnight take those fuinds to $0.
I got the crash part right but didn’t wait. Shouldn’t have flipped. Oh well! Down we go.
I do intend to keep investing in blocks. I have limit orders set to go on the way down.
November 12th, 2008 at 2:44 pm
It’s hard to take seriously a guy that looks that much like Jim Cramer, he said sardonically.
November 15th, 2008 at 11:07 am
Kiernan is a horse’s a**.