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Thread: Volcker: Taxes likely to rise eventually to tame deficit

  1. #141
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by TurtleDude View Post
    you ever thought that the habit of the government bailing out poorly run companies might have been part of the problem all along?
    Quote Originally Posted by USA-1 View Post
    Didn't the "habit" begin with the Bailout of AIG? So how could it have been the problem all along?
    Greenspan did have a record despite his "Austrian" Ayn Rand roots of bailing out the financial industry typically with interest rates being kept lower then what they should have been or directly as in the LCTM issue

    If I recall correctly there was a term called the " Greenspan Put" regarding his interest rate polices.


    That said, the federal government has not made a habit of bailing out poorly run companies.

    I can only recall 2 other such times in the recent US history, the S&L bailout and the LCTM crisis.
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by Lord Tammerlain View Post
    Greenspan did have a record despite his "Austrian" Ayn Rand roots of bailing out the financial industry typically with interest rates being kept lower then what they should have been or directly as in the LCTM issue

    If I recall correctly there was a term called the " Greenspan Put" regarding his interest rate polices.


    That said, the federal government has not made a habit of bailing out poorly run companies.

    I can only recall 2 other such times in the recent US history, the S&L bailout and the LCTM crisis.


    Chrysler was bailed out IIRC



  3. #143
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by TurtleDude View Post
    Chrysler was bailed out IIRC
    I forgot about that,
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by Lord Tammerlain View Post
    You think it takes a crystal ball to realize that stocks were overvalued at 14k in the Dow? Historical P/E valuations would have told anyone with any rationale that

    Or that housing prices increasing at 205+ a year was a bubble in the making required some sort of magic to understand?


    Again, knowing that peoples incomes had to pay for any homes that would be sold would give a strong indication that housing prices were unsustainable at the prices anytime after 2005.

    Heck Goldman was so good it sold the MBS, made a profit on that, then bet the MBS that they sold were going to go bust and made more money.

    As for Barney Frank, we should nominate him for god hood. For a lowly Congressman to have the power to bring the US government under a repubican congress, senate and presidency to heel, along with the multi trillion dollar financial industry must mean he is some sort of god, the most powerfull creature in America

    And Yes USA1 was predicting the housing bubble collapse as early as 2005 at the latest, along with a few other rational people
    A lot of folks thought that the markets were hot. It is very hard to know when we the peak is hit. Even some of the hedge fund folkd that got things right were early by a couple of years but still made money when it all crashed.

    So if you got out in 2005 you and USA1 got out in 2005 you missed the crash, but you also missed 4,000 dow points. The market is now higher than that level. So getting out was half the issue getting back in was the other.

    I will leave the Barney stuff for others as it is not worth the silly back and forth of who had culpability for this mess.

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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by washunut View Post
    A lot of folks thought that the markets were hot. It is very hard to know when we the peak is hit. Even some of the hedge fund folkd that got things right were early by a couple of years but still made money when it all crashed.

    So if you got out in 2005 you and USA1 got out in 2005 you missed the crash, but you also missed 4,000 dow points. The market is now higher than that level. So getting out was half the issue getting back in was the other.

    I will leave the Barney stuff for others as it is not worth the silly back and forth of who had culpability for this mess.
    I did not get out in 2005. I knew it could not last too much longer in 2005 and was predicting a future housing collapse at that time. We were building way too many houses. It was inevitable.
    I was watching closely, paying attention to our company's analysts and got out of stocks at the first signs it was all about to come crashing down in the fall of 2007. The DOW was still around 14000 and just after it started dropping from it's all time high, I bailed.. Got back in when the DOW was at 7000 and it was obvious the government and the FED were going to manipulate the market upwards. I didn't miss anything. MY 401k and other investments never went down. I am glad I did not listen to financial advisers.

    I do predict another crash and am getting ready to bailout again. The current economy is being propped up by zero percent interest rates, and government spending. Not to mention people are putting more and more into stocks because they can't get any kind of return on safer investments. Some event will trigger another panic selloff. Maybe a big jump in gas prices. Or maybe credit card companies in trouble.

    We may not have seen the worst of the Bush recession, just yet. I am more afraid of losing my retirement than missing out on a surge in the market, so I have to be careful. I don't have time to make up for a major loss right now and I don't trust financial advisers.
    Last edited by USA_1; 04-11-10 at 11:09 AM.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by USA-1 View Post
    I did not get out in 2005. I knew it could not last too much longer in 2005 and was predicting a future housing collapse at that time. We were building way too many houses. It was inevitable.
    I was watching closely and got out of stocks at the first signs it was all about to come crashing down in the fall of 2007. The DOW was still around 14000 and just after it started dropping from it's all time high, I bailed.. Got back in when the DOW was at 7000 and it was obvious the government and the FED were going to manipulate the market upwards. I didn't miss anything. MY 401k and other investments never went down.

    I do predict another crash and am getting ready to bailout again. The current economy is being propped up by zero percent interest rates, and government spending. Not to mention people are putting more and more into stocks because they can't get any kind of return on safer investments. Some event will trigger another panic selloff. Maybe a big jump in gas prices. Or maybe credit card companies in trouble.

    We may not have seen the worst of the Bush recession, just yet. I am more afraid of losing my retirement than missing out on a surge in the market, so I have to be careful. I don't have time to make up for a major loss right now and I don't trust financial advisers.
    I am in the same spot, just retired. Let us know when you pull the eject button!

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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by washunut View Post
    I am in the same spot, just retired. Let us know when you pull the eject button!
    Don't you have a feeling that things could go south really fast? The economy is still on life support, yet wild exuberance is pushing the market higher and higher. It's deja vu all over again. Sometimes there a benchmark in the DOW that triggers a selloff. I wonder if 11,000 might be it.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by USA-1 View Post
    Don't you have a feeling that things could go south really fast? The economy is still on life support, yet wild exuberance is pushing the market higher and higher. It's deja vu all over again. Sometimes there a benchmark in the DOW that triggers a selloff. I wonder if 11,000 might be it.
    I agree. For me it is a bit scary. I am putting some money into realtively short term ( 2-4 years) bonds, and multi-nationals that get a lot of their earnings outside the U.S.

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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by washunut View Post
    I agree. For me it is a bit scary. I am putting some money into realtively short term ( 2-4 years) bonds, and multi-nationals that get a lot of their earnings outside the U.S.
    Don't you long for the days of Jimmy Carter when you could get 15% on a FDIC insured CD?
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by USA-1 View Post
    Don't you long for the days of Jimmy Carter when you could get 15% on a FDIC insured CD?
    Those long term CDs helped my parents in their retirement. With all of this debt, we might wind up with high interest and relatively low inflation.

    I think though that this administration is going to favor inflation. The way to do that with a slack economy will be to devalue the currency. Like is being pushed with the Chinese currency. Look at what has happened to the dollar against the Looney.

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