Quote of the Day
I know I’m going to get jumped on by the usual financial pundits here, but as someone who doesn’t even know what all of those strange court reporter type keyboard terminals on the stock market floor are for, let alone understand the intricate maneuvering of market forces, let me just say this – isn’t this…
I know I’m going to get jumped on by the usual financial pundits here, but as someone who doesn’t even know what all of those strange court reporter type keyboard terminals on the stock market floor are for, let alone understand the intricate maneuvering of market forces, let me just say this – isn’t this all a cyclical (albeit harsh) period of correction? As an educated and halfway intelligent and informed person, whose only dealings with the market are in the form of my miniscule and shrinking 401K, I can see why where we are, and understand the fear, but it only makes sense that what rises must eventually fall.
— by Montrose Morris in Dead Cat Bounce or the Bottom?
I think that I was the first poster to state some weeks ago that polemicist has absolutely no idea what the heck he is talking about.
As usual, Montrose Morris is a voice of reason. Looking around the blog today, I think we could use a little more reason and a little less reaction.
Thank you MM, for your cool and steady hand on the tiller! I’m particularly looking forward to meeting you.
Polemicist –
“militaristic ideals” “sedition”???
Truly one of the most worst posts ive ever seen on this blog. I personally found it amusing just how ill informed folks are sometimes about american history as it relates to who fought in its so called wars and revolutions. i dont care how many “weak hippies” you have met over the years in park slope. What kind of an irrelevant anecdote is that?
Montrose spelled it out clearly – you have no idea what you are talking about…
right on 11217
Sedition? Dear lord.
What next? Thoughtcrime?
Ok, but I think 11217, whom I basically agree with, hits on an important point. We are going to have to fundamentally change our lifestyles in this country. Obama, or any politician, is not going to wave his hand and change reality. It’s going to take years, he’s going to have to fight every step of the way, and he’s going to have to make changes and compromise on many of the plans he’s talking about. And that’s if the rest of the world doesn’t do anything to muck it up, such as terrorist attacks, or nuclear proliferation, or natural disasters.
Even if he is blessed with everything going his way, we need to radically change our consumption of everything – energy, natural resources, consumer goods, and credit. I don’t know when we, as a country, decided that we could have everything we want, on credit, but it is out of hand, and is one of the main causes of this whole mess. Everyone is guilty of it. Over the last 20 years, they’ve handed out credit cards like candy, and we are all addicted. The banks made fortunes, and then invested in shady deals, all dependant on people paying their mortgages, which some couldn’t, as they are maxed out and overextended in homes many couldn’t afford or maintain, anyway. It’s like blaming the addict for robbing your house when you provided the drugs in the first place. Easy to say no one made you do it, but where is the culpability of the lender?
We need to take a breath here, and get responsible. We don’t need all of the stuff we buy, we don’t need gigantic vehicles, or homes. We have to stop the cycles of pollution, energy consumption, etc. Obama, or God help us, McPain, can’t do it for us. I think the Western consumer party is definitely over. Perhaps this is the equivilent of the Fall of Rome. There certainly are parallels.
Switching gears, Polemicist, please go away. You have no idea what you are talking about, and expressing dissatisfaction in the way we are governed is hardly sedition. Your despised hippy liberals are a hardy bunch, and we hardly cut and run.
Finally, so WHAT are those little machines for, anyway?
“Sedition” polemicist? Really? When the expression of a political position in the USA “borders on sedition,” then the country really is in trouble. Ah, but I guess you’re a Republican, and would therefore like to see things simply continue as they are.
Such doom and gloom. The DOW is up over 900 points! that is unheard of. As a student of history I know that the main reason the 1929-32 downswing was so bad was because prior to Roosevelt, the government did nothing. It was called “laissez-faire” and it got us into a heap of trouble. Today, by contrast, our government and that of Britain and the EU are doing a lot. I do believe this is a major transition for US capitalism but one that is justified. Saying that, I cannot believe that real estate prices in Brooklyn will continue their upward swing. At a certain point people will refuse to pay, and more importantly, banks will refuse to give mortgages for overpriced properties. So hopefully our 401(k)’s and 403(b)’s will recover a bit but I doubt that real estate prices will remian where they were they are today. The price trend will be down. We are already seeing a tiny bit of that.
11217
Your words border on sedition. Having grown up in Park Slope, I can say that every hippie liberal I have met is incapable of fighting a revolution. They lack the convictions and the fortitude, have an aversion to discipline, and possess an affinity for the weak that is incompatible with the kind of militaristic ideals necessary for victory.
At the same time, I’ve also heard liberals talk like you are right now since I was a toddler. While I don’t think McCain will win, if he did – things would simply continue as they are. Don’t kid yourself.
You’re views on the past 4 years also are not shared by the millions of immigrants who have come to this country. Feel free to leave – it’s not like we have any shortage of people wanting to move here.
Our political system is also at a crossroads. If McCain DOES win, the Democratic Congress will make things very difficult,i if not impossible. I suspect little will get done and the country will sink even deeper in a hole.
It is quite possible that our economic and political systems at this point could effectively collapse the United States as we know it onto itself. Just look around at how incredibly polarized this country is becoming in this election. Even more than ever before.
I can tell you one thing…If McCain wins this, I won’t be around to see it for long. I refuse to witness another 4 years of this destruction of this country.