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Direxion Daily Financial Bear 3X ETF Message Board

  • midnightmarge77 midnightmarge77 May 26, 2009 10:07 PM Flag

    IF CONSUMER CONFIDENCE IS SO GREAT

    -Why is everyone i know either losing jobs, house, 401k,
    -home values so depressed that 1% (if that) qualify for refi or modify
    -factories closing left and right
    -dollar collapse
    -bond value collapse
    -gm bondholders getting squat
    -banks with their gdamn cds, cmds, cdos, you name it they did it.
    This is gonna be one SOB of a recession when all this crap is exposed and
    this is total f'in bullcrap government policies
    Cash is king for the moment for me! FU government azzholes. LOL Man that felt great!

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    • Because stupid people spend money when they don't have any! They are so confident that the government will just send you another stimulus check or you can just max out your credit cards and let the banks (meaning our government) pay for everything. The report wasn't complete, this consumer confidence is to measure how much we believe we are completely screwed!

    • Look, I would not pay too much attention the the cc number. The market just needed some excuse to rally. It could be anything, for exampple WH got a new dog, or something. The whole thing is done with no volume at all, it's pure manipulation. If you still have long positions, sell them. I sold oil stocks, bank stocks and some high tech stocks today, thank you Goldman, thank you Tim and thank you FED!

    • Consumer confidence is actually horrible. It was all fixed and regulators and their family and friends got in on it to rip off everyone.

    • -Why is everyone i know either losing jobs, house, 401k,
      Okay many people have lost there jobs but this is what happens in a recession and 8.9% still has not completely shook the economy considering there is 91.1% still in work that means 1 out of 9 Americans lost jobs and before the recession were about at 4.5% I think. So this doesn't play such a big role yet but its good to keep an eye on. I think the market already anticipate about an 9.5% loss.

      -home values so depressed that 1% (if that) qualify for refi or modify
      Basically the market is clocking this into the market since we are all aware this recession if fueled by the Housing Market.
      -factories closing left and right
      If the factory is big enough the government will save it.
      -dollar collapse
      This wont be recognized till after recession but it being realized but most people look at it as just "well the markets down, the dollar should suck" more of the real details behind it is being recognized and really i dont think this will effect financial's unless its drastic but this will defiantly effect commodities.
      -bond value collapse
      Only happens in bankrupt companies and there isnt enough bankrupt companies to cause panic.
      -gm bondholders getting squat
      Government writing new rules.
      -banks with their gdamn cds, cmds, cdos, you name it they did it.
      Some banks were more responsible like JPM.

      Bottom line if the market continues to move up slightly after this 30% jump you can expect the the confidence to climb up but it will be inconsistent.

      • 1 Reply to duarterich
      • I appreciate your well thought explanation of all points! But..yes but..have you considered all the debt government is incurring, treasury bonds sales out the wazoo, commercial swaps (which hasnt even started to show its ugly face),global economic downturns, etc. I mean this is something we Americans have not seen in our lifetimes. Granted ,Bernanke has talent and knowledge but this is just too big for one govt to control and that is just what they are trying to do is control the potential chaos.

    • Once people have lost their jobs, it gives them more time to spend at the mall shopping.

    • Because McDonalds has a heck of a dollar menu.

    • LOL, the confidence is from the fact that they will be getting more unemployment,30 weeks and counting,
      more food stamps from Obama admin., free health care, don't have to pay mortgage,and don't have to make auto payments...
      Now, that will give U alot of confidence, rite??

      • 1 Reply to dubble_dog
      • LOL Ya know i was venting but i was at Kelley's Island (Lake Erie at Port Clinton, Oh) this weekend partying and it was to say the least sombering! I mean, there were grown men crying at bars about no job, no money. What cracks me up is WTF r u doin here if you have no money or job...Kinda like the banks, auto companies. Get the gist!

    • Great Post. I agree that something is very fishy here! I was speaking to a well established Business Man who also agrees that where ever he goes Business(es) are hurting. He said and if you are curious try this. If he is wondering how the economy is doing the next time you take a cab ask the cabby how the economy is doing "all cab drivers know everything" from talking to their clientel.

    • Look, no doubt economy, credit quakity, etc is in trouble. The question is: Is the govt bottomless in funding that blackhole? I mean if they are prepared to suspend capitalism along with the value of our currency and shift taxpayer funds to the banks indefintely, we're all screwed anyway.

 
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