Tag Archives: stock market crash

Bank Of America Newest Awsome, Incredible Fraud on TARP and Investors

Bank of America  Chief Executive Officer Kenneth Lewis just forecast an absurd, totally unbelievable profit of $50 billion for this year on revenue of over $100 billion, a 50 percent profit margin. No legitimate bank in history ever had a 50 percent profit margin!

Under Chief Executive Officer Kenneth Lewis, Bank America  took $163 billion from the federal rescue program, and was widely expected to be taken over and totally nationalized because of bad assets. “Bad Assets” means that management had no idea what it was doing with shareholders’ and depositors’ money; i.e., bad management, failed management, management that should be replaced, invested in more than $163 billion of worthless assets, the losses on which had to be covered by the taxpayers..

CEO Ken Lewis also bought Merrill Lynch and failed to foresee that Merrill had tens of billions MORE of bad assets  than it told Bank America about during negotiations. Then a few months after being acquired by Ken Lewis’ Bank, Merrill suddenly discovered another billion or so of losses in its London office.

Ken Lewis appears to be guilty of, select one or more of the following:

1.   Not having the foggiest idea of what is going on inside his bank;

2.  Not knowing what the condition of Merrill Lynch was when he was dumb enough to buy Merrill, let alone overpaid for Merrill;

3. Defrauding the government out of $163 billion to save a troubled bank when it actually had the highest profit margin in the history of all banks anywhere in the world, anytime;

4. Lewis presided over a gigantic phoney, criminal write down of assets last year, and then reversed the write down this year to save his job by falsely claiming his grand intelligent management saved the bank;

5.  Bank America is run by escapees from the lunatic asylum, or by Barney Frank, or by Chris Dodd, and has no connection to reality whatsoever, just like Obama’s stimulus plan, and just makes up numbers for press releases depending on how much coffee the good ol’ boys drank that morning;

6. No one in finance or the government has any idea what the truth is about any big bank, so it is acceptable for a bank to say it needs $163 billion of taxpayer money, and the 90 days later accidentally notices that it made $50 billion profit;

7. In an industry that normally has a 3 to 5 percent profit margin, incompetent management can make a 50 percent profit margin, and nobody smells a “Madoff?”

With events like this continuuing, it is insane to believe any reported financials, which means there is no way to decide which stocks to buy or sell. In the land of the blind, the one eyed person is king. This one eyed person sees nothing but piles of deaf, dumb and blind retards pretending to be corporate boards of directors, and will not own any stock or bond for a long time.

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We Have Not Been This Oversold Since Tomorrow

Yesterday March 6, 2009, a NYSE Floor Broker with 30 years trading expertise was asked his opinion on the market prospects.

His comment was heard around the world within 90 seconds because it summed our prospects so clearly.

Or as Obama might say “boldly.”

The guys who knew say tomorrow will be worse, Obama says buy now. Stocks dropped a lot since Obama said to buy.

Don’t you just hope all those morons who bought his “Change” BS also bought stocks when the Messiah said to buy?

Of course his supporters would have to use Food Stamps to buy stocks.

Stocks Went Up A Little After Obama Said Buy Stocks But

the increase is what professional investors call a “fool’s rally” and a “bull trap.” The market is still in a downtrend. The most dangerous time to buy is in the “fool’s rallies” that happen repeatedly during a long term bear market.

Warren Buffet, who knows a bit more about stocks than our food stamp president, told us to buy stocks just before the market went down 3,000 points to where we are today, and Buffet like Obama is saying to buy now.

You heard it here: this is time to sell an stocks you have left, dump them and dump Obama.

Obama thinks passing a bill with $8 billion of earmarks is the way to revive the market!

Duh! Is this the same lying welfare leech who promised us no more earmarks?

Liar, liar, market killer!

Barack Obama Says Buy Stocks Now

After meeting with the new beggar to join “The New World Order” from the United Kingdom, Prime Minister Gordan Brown, our Food Stamp President said that it might be a good idea to buy stocks now!

Ladies and gentlemen! You have just heard the greatest sell signal in history.

When the welfare babies start telling us to buy stocks, it is time to sell any stock you have left.

The S&P 500 Index has broken through its support level of 700.

The next support level is 600 on the .spx.

If you have any stocks left, sell them right now,

Emperor Nero (Obama) Keeps Fiddling As Rome Burns

Obama cannot understand that the stock market is the most intelligent evaluator that the world has ever seen, and it does not like what Obama is saying.

Obama keeps rolling out more and more expenditures, $275 billion for mortgages, $787 billion for a stimulus plan, $441 billion extra spending beyond Bush dumb budget. Golly gee, that is more than $1,500 billion in two weeks?

Plus trillions more to buy mortgages from Fannie Mae since no one else will buy worthless crap any more. Gee, why should we taxpayers? Just get rid of Fannie Mae, since she started this whole mess.

Plus trillions more into failed banks that just cannot stop failing over and over again.

The results of Obama’s Spendomania Orgy? January was the worst January in the history of America for the stock market.

So Obama announced more spending but tried to disguise it by saying he would cut the deficit in half in four years, but first he had to increase it to the most ridiculous number ever seen. The result?

February was the worst February in the history of America for the stock market.

The size of the deficit after he cuts it in half (assuming that he will, which defies credulity) the remaing deficit will be by far the largest deficit we have ever seen (before Obama, of course). To set that large a “reduced” deficit as acceptable is not reasonable. To set it as our goal is so ridiculous that words fail me.

Cumulatively, the Dow Jones and Standard & Poor’s indexes have all broken below their previous lows, signaling that the worst January in history, and the worst February in history, are only a harbinger of things to come.

These are the worst stock index charts in history. Let me repeat this in terms even a food stamp baby can understand:

THE CURRENT STOCK MARKET DECLINES FOR JANUARY AND FEBRUARY, COMBINED WITH THE DECLINES SINCE THE POLLS SAID A TAX RAISING SOCIALIST WAS ABOUT TO BECOME PRESIDENT, ARE FAR WORSE THAN ANY TWO MONTHS OF CHARTS IN THE GREAT DEPRESSION!!!

The market has just told us that Obama’s plans will fail to save us from a new Great Depression.

Sell ALL your stocks and real estate today, even at these low prices, and put all the money in insured bank deposits and T-Bills.

The worst part is Obama continues to mesmerize the media and the press and the youth, so he will get what he wants, and all value will be destroyed. Our financial future is lost.

Made In USA All Electric Plug In Car Available NOW!!!

All the world’s auto makers wallow in oil based obsolescence and incompetency, begging for government handouts to enable them to make vehicles that destroy our economy and national security.

A silicon valley based American venture capital firm named Tesla, after the Serbian immigrant who made Thomas Edison obsolete by inventing alternating current (you know, AC voltage like is in your house), is building the Tesla plug in electric car that uses absolutely no oil.

Tesla did this for a few hundred million, starting from an empty garage, starting from scratch, at the same time that GM geniuses burned up tens of billions of taxpayer money for pure Sh__.

Buy your all electric, no oil car at

http://www.teslamotors.com/

view a home made video on a test drive

http://www.youtube.com/watch?v=p7U3W7sDZxY

The Obama Bear Market: Why Smart Investors Are Dumping Everything Before Obama Gets Elected

Yes, there was a credit crisis (which is separate from the stock market), but government announced effective plans to fix it. So why did the stock market crash afterwards?

There are four big reasons why smart investors are causing a stock bear market crash by dumping all their US stocks before Obama becomes President:

1. If by some chance, despite all the burdens listed below that Barry will place on companies, if you still manage to sell a stock for a profit, Barry will double the tax you pay on capital gains.

Therefore, smart investors who had any profits on stocks sold their stocks as soon as the polls turned in Barry’s favor, preferring to pay a smaller current capital gains tax today instead of Barry’s higher tax tomorrow. Even Kelsey Grammer, Frasier, was on TV saying he sold all his stocks as soon as the polls turned in favor of Obama. Don’t believe me? Look at the polling history. The week that McCain’s post-convention lead evaporated and Obama took the lead, the market crash began.

2.   Obama made a deal with labor unions to eliminate secret ballots when voting on whether or not to unionize. Also Barry will make the Union Steward the guy who walks up to you and collects your vote in front of him, so they can destroy your car in the parking lots if you vote against the union. This means all businesses will become unionized, further driving up costs, so you will pay a higher price for everything, yes EVERYTHING, and making it even harder for US companies to compete abroad. SO IMPORTS WILL INCREASE, AND EXPORTS AND JOBS WILL GO DOWN.

3. Obama is going to increase income and other taxes on business and eliminate all the loopholes, increasing companies’ costs and further decreasing companies’ ability to compete abroad.

4. Health care. Obama wants all health coverage to equal the health care that Congress has. Barry is such a stupid doofus that he does not realize that the insurance companies give Congress excellent coverage for very low premiums AS A BRIBE!!!! repeat as a bribe!!!

When the insurance companies have to include all those rich benefits in policies for everybody, the insurance companies will have to increase the premiums to cover the high costs, plus profit, plus commissions, plus the bribes/payoffs to Barry and the Democratic party for giving such a windfall proft to the insurance companies. And I guarantee you that Barry will not call for a windfall profits tax on the insurance companies who got him elected.

This will increase already out of control health costs by 30 percent, putting US companies at an even bigger disadvantage competing with foreign companies who have no health care costs at all, zero, because other countries pay socialized health care nationally, without stupidly putting the burden on employers. 

All four of these points add greatly, hugely to the costs of running every business in America, so every business will be forced to increase prices to pay for all of Barry’s added costs. That is called inflation. Barry says he will not increase taxes on moderate income families, but his four points above will make everything you buy cost more. Much more.

And given all of the above, there is no reason to own stocks in American Companies.

Obama killed the stock market.

Obama caused the stock market crash and long term bear market.

Obama will kill the US economy.

Barack will give us Change instead of our 401k’s. Pocket change instead of retirement savings.

I found this one on Obama’s secret executive experience: http://ngoldfarb.wordpress.com