Comments on: UPDATED: Worst Predictions for 2008

By: ottovbvs

ottovbvs — Wed, 31 Dec 2008 21:35:31 +0000

whosonfirst Says:

December 31st, 2008 at 1:52 pm

I’m afraid your facts are a little shaky. The Brits were actually fairly conscientious about trying to pay off their WW 1 debt because of sterling’s continuing status as a reserve currency. Finland was not a direct participant in WW 1 because it was part of the Russian Empire at the time. It declared its independance from Russia in 1917 at the time of the Revolution. Perhaps you’d have been more annoyed if Continental Europe and Britain had ended up as part of Hitler’s empire. As to their WW 2 debt I think they paid the final instalment about two years ago. Also in return for lend lease they had to hand over all their Sterling balances and investments in the US and its territories. Since the US also took over most of their markets too as they were 100% committed to the war effort, the US came out of the liquidation of the British Empire fairly well.

By: Stuart

Stuart — Wed, 31 Dec 2008 19:57:14 +0000

http://216.157.72.247/wp-content/uploads/2008/12/image00120081231-100810.jpg

Excellent and so how true….

By: Tom K

Tom K — Wed, 31 Dec 2008 19:41:06 +0000

My “predictions” for what it’s worth: http://www.regimenia.com/2008/12/predictions-for-2009.html

By: Al Czervik

Al Czervik — Wed, 31 Dec 2008 19:27:33 +0000

Regarding Cramer’s prediction about Bear Stearns, I met a guy recently who is one of 30,000 former Bear Stearns *brokerage* customers who still has no access to his money. When JP Morgan/Chase took it over last March, his account was frozen. He has had no access to his money and no ability to re-allocate while the market was sinking. I think he said he had been given access to *some* of his money.

My acquaintance says that SIPC guarantees that he’ll get his money back but doesn’t guarantee that it will be promptly. They have been told that the date is January 6, 2009.

A complete disaster for all involved. Nice work Jim Cramer.

By: DL

DL — Wed, 31 Dec 2008 19:04:04 +0000

Mark Hulbert on the “year after” a big loss in the market:

http://www.marketwatch.com/news/story/A-review-stock-market-2008/story.aspx?guid={C804E9C8-2C7C-4E33-84E6-9A056024E3AE}

By: whosonfirst

whosonfirst — Wed, 31 Dec 2008 18:52:30 +0000

Ottovbvs,

Re GB paying us back in full for their WWI war debt, my understanding is that the only country to pay us back in full was Finland. Not that it matters at this point. But it annoys me that when WWII rolled around they played us like a calliope and even had hopes that they could get us to restore their Empire.

By: Blackhalo

Blackhalo — Wed, 31 Dec 2008 18:15:27 +0000

“they are not held accountable by their employers”

Uh, their employers are GE and the brokerages that advertise on CNBC. Their mandate it to do one puff piece after another. After all, it is a great time to buy or sell stock.

By: rww

rww — Wed, 31 Dec 2008 18:05:54 +0000

SB, it feels like last Spring. Which means we need to see at least one, maybe two quarters earnings to shake the tree.

By: Steve Barry

Steve Barry — Wed, 31 Dec 2008 17:53:50 +0000

Looks like 2008 will close with the 10 day MA for put/call and the 21 day at the lows for the year. What will it take to raise some bearishness? Complacency kills.

By: MikeDonnelly

MikeDonnelly — Wed, 31 Dec 2008 17:50:48 +0000

I’ve got two more:

Bob Doll at BlackRock

“Look for equities to maintain bull market course in ’08″
“U.S. narrowly escapes a Recession”

Nariman Behravish at IHS Global Insight

“U.S. Economy will rebound in the second half of 2008.”
“Housing sector will bottom out in mid-2008.”