Word on Wall Street

[Brian A. MacNeish]

Word on Wall Street
“Stocks and commodities had attempted to regain their footing overnight but found the rug pulled out from under them this morning with the release of disappointing guidance from Hewlett Packard and more poor U.S. housing data,” said Colin Cieszynski, an analyst with CMC Markets, in an interview with MarketWatch. “This news, coupled with worse-than-expected consumer price inflation in the U.K., suggests that the risk of global stagflation remains high.”

May be a longer way back than hoped for.

[Nick Gromicko]

Housing data doesn't mean much to the economy. People transferring the ownership of homes means almost nothing in the big picture. The homes still exist. The people still exist. Only who owns what changes. Meaningless.

The entire economy now rests on whether the Tea Party succeeds or not. It's all on them. Our government has run up a huge debt and continues to spend more than twice what it takes in... and the Tea Party is our only chance of stopping the spending.

[Kate Tarasenko]

Hmm...

[Joseph Burkeson, CMI]

"Dedicated to The Tea Party and all the Patriots."

[Michael Larson]

Dedicated to all the Obamabots especially Burky

[Steven C. Waskewicz]

http://www.youtube.com/watch?v=WdcQGJF_jmY

Get rid of these idiots from the top down.

[John E. Mullarkey]

Nick, you said housing data doesn't mean much to the economy. YIKES! The value of a home represents over 60% of the average indivuals net worth, how can you say that? When consumers feel as if they are losing $$$ eg declining home values, they are not inclined to spend which means a drag on the economy. Until housing turns around NOTHING is going to improve this economy. Wall Street is a total hoax, the Fed is buying with all the BS dollars it is printing and the DOW in real terms isn't worth a penny over 8500, perhaps 9000. Look at commodities! Just wait until all the TARP money is gone, a few months, then watch interest rates soar and housing decline even more...refer to the above. The whole thing is upside down....what happened to your silver bet? And that is another thing, how many of you have listened to all the financal guru's out ther. They all say this one "betted" wrong on gold or that one "betted' wrong on oil etc etc. Personally I prefer the trotters, find out who is behind in stable and feed bills and you will know the next winner. We are at the point where horse racing is more honest than the stock market.

[Nick Gromicko]

Nick, you said housing data doesn't mean much to the economy. YIKES! The value of a home represents over 60% of the average indivuals net worth, how can you say that? When consumers feel as if they are losing $$$ eg declining home values, they are not inclined to spend which means a drag on the economy.

Because I don't view consumer spending as helping the economy (YES I SAID IT!)... at least not our economy. Buying over-sized flat screen TVs helps someone's economy, but not ours... it helps the economy in the country that made and sold us the TVs (China or South Korea).

Furthermore, shuffling the names on deeds to real estate (home sales) doesn't help the economy either, it only helps the economy of home inspectors. This is why I want housing prices to fall. If housing prices fall, the number of transfers (sales), and thus the number of home inspections... increases.

BTW: Silver is going to $145/ounce.

[John E. Mullarkey]

"BTW: Silver is going to $145/ounce." From your lips to His ears! Remember the Hunt brothers? Sorry Nick but I think you have it *** backwards. Consumer spending is what drives our economy. Granted in the long term a good part of it goes to China and Japan (yes they build cars here but the profits go to Japan WAKE UP America) We can get into the micro and macro economical impact of housing valuations but all said and done it is the consumer who drives our economy and the consumer is not a very happy camper right now!
Many years ago I worked for EF Hutton, remember them, when E.F.Hutton speaks everyone listens I learned much about Wall Street then, no need for details now but I learned the ins and outs. Currently, the whole market is TOTAL BS. There is no rhyme or reason to the current averages, totally inflated and all due to the intervention of the Fed. That intervention will end in a few months. You predict silver at $145. per ounce? Do you care/dare to predict the Dow or interest rates in 6 months? To quote my friend from the midlands of Ireland "yer fooked!" Sorry Nick, but the debt and BS policies of the Fed, Reid, Schumer, Obama bin Laden et al are going to sink us. I could bring forth so many discussions/arguments.... no point now.
BTW no comment re the stock market Vs. the ponies?...... fascinating!
Just my 0.0002 cents adjusted for inflation.

I enthusiasticlly await your reply

[Nick Gromicko]

Remember the Hunt brothers?

Yes, but silver isn't going to $145 because of two people this time. It's going to $145 because of 4 billion people wanting hard assets... instead of little pieces of paper with faces on them.

Consumer spending is what drives our economy.

That's what everyone claims. It isn't true though. The only reason they came up with that theory is because people spend when the economy is good. But spending is the result of a good economy, not the cause of it. Hey, every time my gutters overflow I notice it's raining. But the gutters overflowing is a result of it raining. The gutters don't cause it to rain.

the debt and BS policies of the Fed, Reid, Schumer, Obama bin Laden et al are going to sink us.

They're going to sink the dollar first (the dollar will lose much of its purchasing power) which means that you'll need more dollars to buy hard assets, a lot more... 145 of them to buy an ounce of silver.

[Rick Strand]

Originally Posted by gromicko

...They're going to sink the dollar first (the dollar will lose much of its purchasing power) which means that you'll need more dollars to buy hard assets, a lot more... 145 of them to buy an ounce of silver.

Gotta go with Nick on this one and don't think for one minute that they (Timmy, helicopter Ben and Obama) don't realize what they are doing!! The first step in gaining control is to create a crisis...

Fasten your seat belts!

[John E. Mullarkey]

Yikes! It's late and would love to get into this now but will do so in the AM. Nick, yer wrong, more to follow

Best regards
John


BTW I need 3 more IR Certified Logo stickers for the truck, the Florida sun eats them alive. Hmm perhaps 3 of the INACHI logos as well.

Thanks Nick,

John

[Michael Larson]

BTW: Silver is going to $145/ounce.

Before or after it makes $25 again?