DC Tom Posted September 23, 2008 Share Posted September 23, 2008 I certainly would not raise taxes into the teeth of a recession. This rescue package puts a floor under the problem and will save the system. It is not a panacea curing all that ails the system. I would extend the Bush cuts indefinately, proportionally cutting spending (unlike the abhorrant Bush administration and Republican Congress). But then, I am a tax cutter and spending reducer. Fixed. The Democratic Congress isn't exactly reining anything in. Link to comment Share on other sites More sharing options...
Dwight Drane Posted September 23, 2008 Share Posted September 23, 2008 Good for Congress.... Libby Dole brought up the Level 3 asset question, and all the braintrust could do was dance around it and say they needed to regulate them better. Then there was some good follow up. They locked on to the big problem. At least Congress isn't as clueless as it seemed about 72 hours ago. Link to comment Share on other sites More sharing options...
bills_fan Posted September 23, 2008 Share Posted September 23, 2008 Fixed. The Democratic Congress isn't exactly reigning anything in. Absolutely right. But the Dems have had less time to mess it up than the Reps had. I expect that to change if Obama is elected. Link to comment Share on other sites More sharing options...
erynthered Posted September 25, 2008 Author Share Posted September 25, 2008 Absolutely right. But the Dems have had less time to mess it up than the Reps had. I expect that to change if Obama is elected. Since Buffet's getting in on the feeding and the market is reacting to the news of the "bailout" are we at bottom yet? When big money comes in isnt that an indication we're there? Link to comment Share on other sites More sharing options...
erynthered Posted September 25, 2008 Author Share Posted September 25, 2008 Within hours of revealing his dramatic, confidence-boosting investment in Goldman Sachs yesterday, Warren Buffett had made a $783 million (£424 million) notional profit. The Wall Street investment bank astounded its rivals by raising $10 billion in fresh capital — $5 billion from Berkshire Hathaway, Mr Buffett’s main listed company, and $5 billion through a public share offering. Shares in Goldman rose 6 per cent to $133.00, giving Berkshire an instant theoretical profit on a side deal, under which it has warrants to buy up to $5 billion of new Goldman shares at $115 a share at any time in the next five years. Analysts said that the decision by Mr Buffett, widely regarded as one of the world’s most astute long-term investors, to take the plunge in financial stocks — having passed on previous capital-raisings by banks — might come to be seen as the turning point in the financial crisis. In a separate public offering, Goldman raised $5 billion through the issue of new shares at $123 a share. http://business.timesonline.co.uk/tol/busi...icle4821506.ece Link to comment Share on other sites More sharing options...
meazza Posted September 25, 2008 Share Posted September 25, 2008 Since Buffet's getting in on the feeding and the market is reacting to the news of the "bailout" are we at bottom yet? When big money comes in isnt that an indication we're there? Maybe just for Goldman... They're at a bargain and probably have a huge upside value... Link to comment Share on other sites More sharing options...
DC Tom Posted September 25, 2008 Share Posted September 25, 2008 Since Buffet's getting in on the feeding and the market is reacting to the news of the "bailout" are we at bottom yet? When big money comes in isnt that an indication we're there? Buffet's investing philosophy is to make long-term bets on companies, not on markets. (I believe it was he who said something akin to "The markets exist only to let me know if anyone's offering to do anything stupid.") As such, Buffet's actions are more indicative of Goldman-Sachs' quality than they are of any market bottom. My general rule is that we've hit bottom when otherwise sane people go apocylaptic. When CNBC starts sounding like Dwight Drane, I'll go full-in on index futures. Link to comment Share on other sites More sharing options...
John Adams Posted October 17, 2008 Share Posted October 17, 2008 Everyone do yourselves a favor and enjoy tomorrow's home game. Not to sure what the status of the SD game in a month will be. This is really gonna !@#$ up my Sunday plans. Any more info on this Nostradamus? Link to comment Share on other sites More sharing options...
Dwight Drane Posted October 18, 2008 Share Posted October 18, 2008 This is really gonna !@#$ up my Sunday plans. Any more info on this Nostradamus? So sorry that we only had a 20-30% drop in the equity markets, there has been a call for a global currency from France, Russia, Italy, China, etc..., the Secretary of the Treasury runs the country, and the President has given 5 press conferences on national TV in the 4 weeks since I said that. You're right...everything's just peachy! I have gone long 80% however. Only because people need to raise cash and are dumping things that have a chance of surviving that shouldn't be dumped. No big names.....big names are in trouble. Tiny names sitting on cash, no debt, and with earnings next year because of backlog. $20 million companies will be able to take over $100 million companies. That is where you want to be in my opinion. I guess if I'm buying, the terrorist attack happens next week? Link to comment Share on other sites More sharing options...
John Adams Posted October 18, 2008 Share Posted October 18, 2008 So sorry that we only had a 20-30% drop in the equity markets, there has been a call for a global currency from France, Russia, Italy, China, etc..., the Secretary of the Treasury runs the country, and the President has given 5 press conferences on national TV in the 4 weeks since I said that. You're right...everything's just peachy! I have gone long 80% however. Only because people need to raise cash and are dumping things that have a chance of surviving that shouldn't be dumped. No big names.....big names are in trouble. Tiny names sitting on cash, no debt, and with earnings next year because of backlog. $20 million companies will be able to take over $100 million companies. That is where you want to be in my opinion. I guess if I'm buying, the terrorist attack happens next week? Easy boy: no need to get defensive. Just wondering about the game is all. Link to comment Share on other sites More sharing options...
Dwight Drane Posted October 18, 2008 Share Posted October 18, 2008 Easy boy: no need to get defensive. Just wondering about the game is all. I was talking in general. I figured we would have had a shutdown of the markets and banks by now and that commerce would grind to a halt. Nothing special about Buffalo itself. If there is a banking shutdown, I would expect games to get cancelled because of the threat of civil unrest. Nothing like getting 70,000 drunken, rowdy people in one place tht have just been denied access to their savings and have no idea what is going on. It seems as if there is pretty much full disclosure with the seriousness of the economy now. I don't think the average person understands yet that their pension fund is on the brink, or that their state and county is going to get slammed in all aspects. Everyone is on alert though. The problem now is that there is a powderkeg of tension built up, and just about anything can set it off. The way the Treasury pulled off the coup was pretty amazing. They were able to make Congress the bad guys in all this. When there is finally a banking holiday, and I'd be willing to wager there is....depending how drastic the outcome on the other side of it, the American people for the most part will not take it rolling over. What was speculation a few months ago is now palpable. I have figured this would happen before the election. It still may. If it doesn't, I will feel a bit more at ease that there isn't as much of an inside force driving events. If it happens before the election.....I will be scared for everyone in this country. If it never happens, I'll go see a shrink and get some anti-anxiety meds. Remember...there has to be an end game at some point. We cannot afford social security and medicare. Those alone will bankrupt the US 4x over. That has been my fear all along. If you have money and power, would you wait for it to happen naturally, or would you take control of the situation and make it happen on your terms if possible? On a bright note....the Canadian Dollar is almost to the point again of making a trip to the Sundowner worth it. Link to comment Share on other sites More sharing options...
John Adams Posted October 19, 2008 Share Posted October 19, 2008 Game suspended?!?! Gee, I wonder who cut the power. Link to comment Share on other sites More sharing options...
Booster4324 Posted October 19, 2008 Share Posted October 19, 2008 Game suspended?!?! Gee, I wonder who cut the power. OMG what a coincidence. :lol: :lol: Link to comment Share on other sites More sharing options...
meazza Posted October 19, 2008 Share Posted October 19, 2008 OMG what a coincidence. :lol: :lol: Dwight Drane was right!!!! *Pulls out shutgun and canned food and runs for a bunker.* Link to comment Share on other sites More sharing options...
Dwight Drane Posted October 19, 2008 Share Posted October 19, 2008 Game suspended?!?! Gee, I wonder who cut the power. I was in the pisser as it happened and figured if there really was a problem, I would probably have FBI at my house at the end of the game. Link to comment Share on other sites More sharing options...
GG Posted October 20, 2008 Share Posted October 20, 2008 I was in the pisser as it happened and figured if there really was a problem, I would probably have FBI at my house at the end of the game. Was that the dry run for the doomsday machine? Link to comment Share on other sites More sharing options...
John Adams Posted October 20, 2008 Share Posted October 20, 2008 I was in the pisser as it happened and figured if there really was a problem, I would probably have FBI at my house at the end of the game. Too funny that when I heard about it, I thought, "Man that SOB will do anything to be right. Does the beer man take bouillon?" Link to comment Share on other sites More sharing options...
Ramius Posted October 21, 2008 Share Posted October 21, 2008 looks like dwight drane made it into the news. http://www.msnbc.msn.com/id/27244465 Link to comment Share on other sites More sharing options...
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